BCOR 350 Quiz 1 QUESTIONS AND CORRECT
ANSWERS (VERIFIED AND WELL DETAILED
ANSWERS) LATEST UPDATE 2024/2025
What is the underlying reason that most small businesses fail? - ✔✔Failure to plan
sufficiently
Like military strategy, business strategy includes a degree of _____, which makes it more
challenging to achieve desired results. - ✔✔uncertainty
When an organization adopts the ______ concept, it has made the attempt to know as
much about the consumer as possible and has decided to base its marketing strategy on
this information. - ✔✔marketing
During his lunch break, John stops by a locally owned fast-food sandwich shop,
purchasing a meatball sub and a side order of pasta salad. From a marketing
perspective, John is _____ in this transaction. - ✔✔both the consumer and customer
Darby works on a relatively quiet street in the suburbs. Her only option for lunch
(without driving into town) is GreatBurger, a fast food hamburger restaurant across the
street where a full meal can be purchased for under ten dollars. One day, an upscale
Mediterranean restaurant called the Olive Branch opens next door to GreatBurger.
Darby likes the Olive Branch better than GreatBurger, but she cannot afford to eat there
except on special occasions. The Olive Branch would be considered a competitor to
GreatBurger because they are both restaurants and are located right next to each other.
- ✔✔False
It is easy to recognize a bad value proposition if it _____. - ✔✔does not explain
clearly why the product is different
, In the marketing mix, the term _____ refers to the communications that occur between
the company and the customer. - ✔✔promotion
A marketing plan s budget should include a list of _____ required for executing the plan.
- ✔✔resources
A good business presentation should always _____. Select all that apply. - ✔✔drive
action
be short and focused
include recommendations
True or false: The marketing plan is required of most banks and investors because it
forces a degree of discipline on small businesses that they may not already have. -
✔✔True
Marketing exists to support an organization s _____, among other things. Select all that
apply. - ✔✔growth
profits
After spending months finalizing a marketing plan, the lead marketing manager presents
it to the entire company. It soon becomes clear that the budget given in the plan is far
lower than the marketing team had determined it would need. This mistake is likely a
result of a lack of _____. - ✔✔alignment
The marketing information and research section in a marketing plan does which of the
following? - ✔✔"Gives basic information about the organization, its offerings, and
competitive set"
ANSWERS (VERIFIED AND WELL DETAILED
ANSWERS) LATEST UPDATE 2024/2025
What is the underlying reason that most small businesses fail? - ✔✔Failure to plan
sufficiently
Like military strategy, business strategy includes a degree of _____, which makes it more
challenging to achieve desired results. - ✔✔uncertainty
When an organization adopts the ______ concept, it has made the attempt to know as
much about the consumer as possible and has decided to base its marketing strategy on
this information. - ✔✔marketing
During his lunch break, John stops by a locally owned fast-food sandwich shop,
purchasing a meatball sub and a side order of pasta salad. From a marketing
perspective, John is _____ in this transaction. - ✔✔both the consumer and customer
Darby works on a relatively quiet street in the suburbs. Her only option for lunch
(without driving into town) is GreatBurger, a fast food hamburger restaurant across the
street where a full meal can be purchased for under ten dollars. One day, an upscale
Mediterranean restaurant called the Olive Branch opens next door to GreatBurger.
Darby likes the Olive Branch better than GreatBurger, but she cannot afford to eat there
except on special occasions. The Olive Branch would be considered a competitor to
GreatBurger because they are both restaurants and are located right next to each other.
- ✔✔False
It is easy to recognize a bad value proposition if it _____. - ✔✔does not explain
clearly why the product is different
, In the marketing mix, the term _____ refers to the communications that occur between
the company and the customer. - ✔✔promotion
A marketing plan s budget should include a list of _____ required for executing the plan.
- ✔✔resources
A good business presentation should always _____. Select all that apply. - ✔✔drive
action
be short and focused
include recommendations
True or false: The marketing plan is required of most banks and investors because it
forces a degree of discipline on small businesses that they may not already have. -
✔✔True
Marketing exists to support an organization s _____, among other things. Select all that
apply. - ✔✔growth
profits
After spending months finalizing a marketing plan, the lead marketing manager presents
it to the entire company. It soon becomes clear that the budget given in the plan is far
lower than the marketing team had determined it would need. This mistake is likely a
result of a lack of _____. - ✔✔alignment
The marketing information and research section in a marketing plan does which of the
following? - ✔✔"Gives basic information about the organization, its offerings, and
competitive set"
