BUS203 Principles of Marketing - Saylor Direct Credit Final Exam Questions And Solutions

BUS203 Principles of Marketing - Saylor Direct Credit
Final Exam Questions And Solutions
What kind of business approach recognizes that consumers want value in both their
products and services?

a.Market-oriented (x)

b.Product-oriented (x)

c.Customer-oriented

d.Service-oriented - ANSWER -c.Customer-oriented

Which of the following is designed to deliver one consistent promotional message to a
potential buyer?

a.Integrated marketing communication (x)

b.Advertising

c.Personal Selling (x)

d.Public Relation - ANSWER -

What do companies use public relations to do?

a.Build brand awareness through free advertising

b.Create a favorable image for a brand

c.Ensure a controlled audience response

d.Attract investors and maintain a relationship with shareholders - ANSWER -b.Create a
favorable image for a brand

Which of the following describes the process of designing and manufacturing a product,
and then bringing it to the market?

a.Strategy

b.Exchange

c.Value chain

,d.Commercialization - ANSWER -c.Value chain

Which of the following describes the proper order of the elements of marketing plan
development?

a.Research customer needs, create the right offerings, communicate value

b.Communicate value, create the right offerings, launch promotional plan

c.Research customer needs, develop corporate strategy, develop Mission Statement

d.Develop corporate strategy, develop Mission Statement, research customer needs -
ANSWER -a.Research customer needs, create the right offerings, communicate value

What marketplace issues might best be considered with a SWOT analysis?

a.Media selections

b.Competitor offerings

c.Organization and training

d.Position among competitors - ANSWER -b.Competitor offerings

Which of the following is a benefit of segmenting and targeting markets?

a.Identify market expansion opportunities .x

b.Focus on profitable customers

c.Segmenting brands to provide customer benefits .x

d.Target customers who cross shop a competitor - ANSWER -d.Target customers who
cross shop a competitor

What categories might marketers segment a target audience into?
a.
Behavioral and realistic
b.
Intellectual and behavioral
c.
Interactive and demographic
d.
Demographic and geographic - ANSWER -d. Demographic and geographic

Why is segmentation of target audiences useful in marketing campaigns?

, a.
A segmented audience strengthens competitors. x
b.
Segmentation is useful for countering ethnic stereotypes.
c.
A segmented target audience increases competitive advantage.
d.
A broad general outreach works best with segmented audiences. - ANSWER -

You own a gourmet coffee shop that has been doing good business. A tea shop
recently opened up in the neighborhood, and you are concerned about losing sales to
this business. Which of the following competitive forces does this describe?
a.
Entry
b.
Substitutes
c.
Buyer power
d.
Bargaining power of buyers x - ANSWER -

Which of the following aspects of a competitive analysis will enable you to determine
the features and benefits that are meaningful to customers and potential customers?
a.
Product evaluation
b.
Go to market analysis
c.
Customer reviews
d.
Customer service evaluation x - ANSWER -

Which of the following is true for business-to-business (B2B) marketing?
a.
Media for B2B audiences is more expensive than consumer options.
b.
More personal selling is involved than in business-to-consumer marketing.
c.
A consumer is more likely to buy online than a company purchasing agent.
d.
Businesses have less rigid standards for a product than customers do for the same
product. x - ANSWER -

Which of the following is a business-to-business (B2B) buying situation in which a
company buys the same type of product as it has in the past but changes it in some
way?