BCOR 350 EXAM 1 2025 QUESTIONS
WITH COMPLETE SOLUTIONS.
, Frequently purchased, relatively low-cost products for which customers have little
interest in seeking new information and rely heavily on prior purchase behavior are
called ________ goods. - ANSWERconvenience
Peter Drucker, the father of modern management, stated that the only purpose of an
organization is to ________. - ANSWERcreate a customer
________ is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners,
and society at large. - ANSWERMarketing
From a customer's perspective, what is defined as a ratio of the bundle of benefits a
customer receives from an offering, compared to the costs incurred by the customer in
acquiring that bundle of benefits? - ANSWERValue
Which of the following are two core marketing concepts? - ANSWERValue and
Exchange
Henry Ford is well known to business students for creating the assembly line that
enabled mass production of the Model T. This is an example of the ________
orientation. - ANSWERProduction
The stereotypical automobile dealership uses tactics like high pressure and bargaining
to get customers to buy. This is an example of the ________ orientation. -
ANSWERSales
Making a change in any one of the marketing mix elements will ________. -
ANSWERhave a domino effect on the other elements
Which of the following is NOT part of the marketing mix? - ANSWERPolicy
Today customers have limitless access to facts about companies, products,
competitors, other customers, and even detailed elements of marketing plans and
strategies. In the context of change drivers impacting the future of marketing, this
reflects the ________. - ANSWERshift in information power from marketer to customer
The primary function of marketing and the entire organization, in a broader context, is to
________. - ANSWERdeliver value to the customer
The failure of Apple Newton, the first PDA, highlights the fact that ________. -
ANSWERthe best product technically is not always the most successful product
WITH COMPLETE SOLUTIONS.
, Frequently purchased, relatively low-cost products for which customers have little
interest in seeking new information and rely heavily on prior purchase behavior are
called ________ goods. - ANSWERconvenience
Peter Drucker, the father of modern management, stated that the only purpose of an
organization is to ________. - ANSWERcreate a customer
________ is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners,
and society at large. - ANSWERMarketing
From a customer's perspective, what is defined as a ratio of the bundle of benefits a
customer receives from an offering, compared to the costs incurred by the customer in
acquiring that bundle of benefits? - ANSWERValue
Which of the following are two core marketing concepts? - ANSWERValue and
Exchange
Henry Ford is well known to business students for creating the assembly line that
enabled mass production of the Model T. This is an example of the ________
orientation. - ANSWERProduction
The stereotypical automobile dealership uses tactics like high pressure and bargaining
to get customers to buy. This is an example of the ________ orientation. -
ANSWERSales
Making a change in any one of the marketing mix elements will ________. -
ANSWERhave a domino effect on the other elements
Which of the following is NOT part of the marketing mix? - ANSWERPolicy
Today customers have limitless access to facts about companies, products,
competitors, other customers, and even detailed elements of marketing plans and
strategies. In the context of change drivers impacting the future of marketing, this
reflects the ________. - ANSWERshift in information power from marketer to customer
The primary function of marketing and the entire organization, in a broader context, is to
________. - ANSWERdeliver value to the customer
The failure of Apple Newton, the first PDA, highlights the fact that ________. -
ANSWERthe best product technically is not always the most successful product
