BUSI 2204 MIDTERM EXAM 2023 - BASIC MARKETING REAL EXAM VERSION B

1. Solitude Nurseries is a retailer that helps homeowners create backyard sanctuaries for pondering the wonders of nature. Its owner believes he maintains the loyalty of the store’s customers by stocking only the highest quality merchandise and offering a customer satisfaction guarantee. With which element of the marketing mix is the manager most concerned? a. price b. distribution c. product d. promotion Scenario Because Telus Corporation wanted to become a big player in the booming market for outsourcing computer services, it set up Lucent Technologies to manage corporate clients’ worldwide computer networks. Lucent Technologies assists corporations in global network and computer management by drawing on Telus’s worldwide digital network and its computer hardware and software businesses. It also relies on the expertise of technicians at Bell Laboratories. 2. Refer to the Scenario. What does Lucent Technologies sell? a. consumer items b. business products c. supplies d. installations 3. Although the price of a chemical added to paint to protect surfaces from mould and mildew has almost doubled, the price of paint only rose an average of 5 percent, and the demand for both paint and the chemical that eliminates mould and mildew remained stable. What is the demand for this chemical? a. elastic b. derived c. bundled d. inelastic 4. Post Properties is a company that manages apartments in various communities. It is currently concerned with apartments in Toronto and Hamilton. Its market researcher begins by examining the rental markets in southern Ontario—all information that was on hand and did not require any new research to locate. What did the market researcher look at? a. a regression analysi