BUS 360|102 EXAM 1 Question Quest:
Test Your Knowledge and Skills
A ________Blank is a measuring system that quantifies a trend, dynamic, or characteristic and is used by
marketers to help explain why things happened and also to predict the future.✔ ✔ metric
A business philosophy and set of strategies, programs, and systems that focus on identifying and
building loyalty among the firm's most valued customers is known as✔ ✔ customer relationship
management.
Which growth strategy is being used when a firm introduces a new product or service to a market
segment that is currently not being served by the firm?✔ ✔ diversification
Which marketing mix element corresponds to what the buyer gives up in the marketing exchange?✔
✔ price
A firm makes generous donations to charities, but its employees are always being scrutinized for
engaging in questionable sales practices. This firm would be considered✔ ✔ unethical but socially
responsible.
A local bakery is known for poor customer service and an unclean environment. These factors would be
classified as ________Blank in a SWOT analysis.✔ ✔ weakness
A manager at a marketing research firm is trying to determine if the firm acted ethically when it
conducted its latest study. In doing so, the manager is evaluating whether or not the research
respondents were told the real purpose of the study before proceeding. Which step of the ethical
decision-making framework is the manager participating in?✔ ✔ identifying issues
A national hotel chain engages in conversations with its customers through Facebook and allows them
to book their hotel reservations through its Facebook page. This is an example of marketing using
________Blank to be more value driven.✔ ✔ social media
A person who has downloaded the Flipboard app on his or her smartphone to get full-screen magazines,
multiple news and entertainment sources, entertainment, local news, and business news is attempting
to fulfill which motivation for using a mobile application?✔ ✔ discovery
A person who wishes to fulfill the need for "me time" would most likely download which type of app?✔
✔ one focused on entertainment and relaxation
A service is different from a good in that the benefit is✔ ✔ intangible
, A struggling company determined that it would close down divisions that were in low-growth markets
with relatively low market shares. According to the BCG product portfolio analysis, this company was
identifying divisions in the ________Blank category for closure.✔ ✔ dogs
A SWOT analysis involves an analysis of factors internal to the company, which include ________Blank,
as well as factors outside the company, which include ________Blank.✔ ✔ strengths and
weaknesses; opportunities and threats
A written document composed of an analysis of the current marketing situation, opportunities and
threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action
programs, and projected income statements is referred to as a(n)✔ ✔ marketing plan
According to recent research, the majority of Americans✔ ✔ will refuse to buy products from
companies that are opposed to issues important to them.
According to the BCG matrix, which type of product typically has excess resources that can be used to
support other products that need additional resources?✔ ✔ cash cows
According to your text, what can be said regarding the use of social media in advertising?✔ ✔ Only
30 percent of the world's population uses Facebook—which means 70 percent are not accessible
After a firm has carefully considered all relevant alternatives to address an ethically difficult situation,
the next step would be to ________Blank to bring about the best solution.✔ ✔ choose a course of
action
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing
planning, which is ________Blank and involves using STP (segmentation, targeting, and positioning).✔
✔ identifying and evaluating opportunities
After weighing various alternatives and choosing the most appropriate action to take, what action
should be taken if the marketer is not confident about that decision?✔ ✔ Reexamine other
alternatives.
Although Olive Garden, Maggiano's Little Italy, and Bertucci's all strive to provide good Italian food and
service to their respective target markets, the difference in their choice of target market, design of their
marketing mix, and the basis of their competitive advantage is directly related to their own✔ ✔
marketing strategy.
Although there are many and varied definitions of corporate social responsibility (CSR), firms generally
acknowledge that, in addition to economic and legal duties, they have responsibilities to✔ ✔ society
American Airlines recognizes that there are different groups of travelers with different needs, wants,
and characteristics in their choice of airline transportation. The process of dividing American's market
into these various groups is✔ ✔ market segmentation
Test Your Knowledge and Skills
A ________Blank is a measuring system that quantifies a trend, dynamic, or characteristic and is used by
marketers to help explain why things happened and also to predict the future.✔ ✔ metric
A business philosophy and set of strategies, programs, and systems that focus on identifying and
building loyalty among the firm's most valued customers is known as✔ ✔ customer relationship
management.
Which growth strategy is being used when a firm introduces a new product or service to a market
segment that is currently not being served by the firm?✔ ✔ diversification
Which marketing mix element corresponds to what the buyer gives up in the marketing exchange?✔
✔ price
A firm makes generous donations to charities, but its employees are always being scrutinized for
engaging in questionable sales practices. This firm would be considered✔ ✔ unethical but socially
responsible.
A local bakery is known for poor customer service and an unclean environment. These factors would be
classified as ________Blank in a SWOT analysis.✔ ✔ weakness
A manager at a marketing research firm is trying to determine if the firm acted ethically when it
conducted its latest study. In doing so, the manager is evaluating whether or not the research
respondents were told the real purpose of the study before proceeding. Which step of the ethical
decision-making framework is the manager participating in?✔ ✔ identifying issues
A national hotel chain engages in conversations with its customers through Facebook and allows them
to book their hotel reservations through its Facebook page. This is an example of marketing using
________Blank to be more value driven.✔ ✔ social media
A person who has downloaded the Flipboard app on his or her smartphone to get full-screen magazines,
multiple news and entertainment sources, entertainment, local news, and business news is attempting
to fulfill which motivation for using a mobile application?✔ ✔ discovery
A person who wishes to fulfill the need for "me time" would most likely download which type of app?✔
✔ one focused on entertainment and relaxation
A service is different from a good in that the benefit is✔ ✔ intangible
, A struggling company determined that it would close down divisions that were in low-growth markets
with relatively low market shares. According to the BCG product portfolio analysis, this company was
identifying divisions in the ________Blank category for closure.✔ ✔ dogs
A SWOT analysis involves an analysis of factors internal to the company, which include ________Blank,
as well as factors outside the company, which include ________Blank.✔ ✔ strengths and
weaknesses; opportunities and threats
A written document composed of an analysis of the current marketing situation, opportunities and
threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action
programs, and projected income statements is referred to as a(n)✔ ✔ marketing plan
According to recent research, the majority of Americans✔ ✔ will refuse to buy products from
companies that are opposed to issues important to them.
According to the BCG matrix, which type of product typically has excess resources that can be used to
support other products that need additional resources?✔ ✔ cash cows
According to your text, what can be said regarding the use of social media in advertising?✔ ✔ Only
30 percent of the world's population uses Facebook—which means 70 percent are not accessible
After a firm has carefully considered all relevant alternatives to address an ethically difficult situation,
the next step would be to ________Blank to bring about the best solution.✔ ✔ choose a course of
action
After a firm has conducted a SWOT analysis, it would typically progress to the next step of marketing
planning, which is ________Blank and involves using STP (segmentation, targeting, and positioning).✔
✔ identifying and evaluating opportunities
After weighing various alternatives and choosing the most appropriate action to take, what action
should be taken if the marketer is not confident about that decision?✔ ✔ Reexamine other
alternatives.
Although Olive Garden, Maggiano's Little Italy, and Bertucci's all strive to provide good Italian food and
service to their respective target markets, the difference in their choice of target market, design of their
marketing mix, and the basis of their competitive advantage is directly related to their own✔ ✔
marketing strategy.
Although there are many and varied definitions of corporate social responsibility (CSR), firms generally
acknowledge that, in addition to economic and legal duties, they have responsibilities to✔ ✔ society
American Airlines recognizes that there are different groups of travelers with different needs, wants,
and characteristics in their choice of airline transportation. The process of dividing American's market
into these various groups is✔ ✔ market segmentation
