BUS2-130 Exam 1 Questions and Answers Latest Update 2025

BUS2-130 Exam 1 Questions and Answers Latest Update 2025 After World War I and the Great Depression, consumers purchased far less. To address overproduction, companies relied on advertising and personal selling. This was the - Answers sales-oriented era In the ________ era, manufacturers focused on product innovation, rather than satisfying the needs of individual customers. - Answers production-oriented Which of the following is one of the core practices among value-oriented marketers? - Answers constantly measuring the benefits that customers receive against the costs of offerings Rather than being just a random activity, good marketing requires ________ in determining appropriate actions to produce sound decisions. - Answers thoughtful planning The ________ consists of the product, price, place, and promotion of an offering. - Answers marketing mix According to your text, which of the following can be said regarding the use of social media in advertising? - Answers Only about 30 percent of the world's population uses Facebook—which means 70 percent still has not signed up. The ________ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers. - Answers marketing plan Understanding consumers' ________ is fundamental to marketing success. - Answers needs and wants A group that sponsors poster contests for children to promote bicycle safety is providing which of the following marketing offerings? - Answers ideas 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 - Answers customer relationship management. When an optical center provides eye exams and new contact lenses as its offering, it is an example of which the following combinations? - Answers goods and services Amazon collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. This activity refers to - Answers marketing analytics. Which marketing mix element deals specifically with retailing and marketing channel management? - Answers place During the last couple of decades, it has become important for value-oriented marketers to ________ with customers. - Answers move toward a relational orientation from a transactional perspective Redbox uses the ________ element of the marketing mix to make movie rentals available for customers when and where they need them. - Answers place The ________ era embraced the belief that a good product would sell itself. - Answers production-oriented Smithward. Inc. manufactures reusable water bottles. It targets its marketing campaigns at different market ________, including outdoor enthusiasts, health-conscious buyers, and young people who want the current fashion accessory. - Answers segments Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange? - Answers price The goal of a marketing exchange is that the parties to the transaction be - Answers satisfied. A national hotel chain engages in conversations with its customers through Facebook and even allows them to book their hotel reservations through its Facebook page. This is an example of marketing using - Answers social media. Which of the following elements of the marketing mix is involved when marketers make their offering available when and where the customer wants it? - Answers place Companies must deliver more value and satisfaction to target consumers than their competitors to gain a - Answers competitive advantage. What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm? - Answers relative market share and market growth rate Hyatt recognizes that there are different groups of travelers with different needs, wants, and characteristics in their choice of lodging. The process of dividing Hyatt's market into these various groups is - Answers market segmentation. According to the BCG matrix, which type of product typically has excess resources, which can be used to support other products that need additional resources? - Answers cash cows Honda marketed its CR-Z hybrid model to a distinct segment of consumers as a fun, green, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example of which of the following? - Answers market positioning When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which of the following steps of the marketing planning process? - Answers defining the mission Which of the following is one of the four major growth strategies marketers typically utilize? - Answers product development Southwest Airlines is recognized as an industry leader for exemplary customer service and has continued to add new ways to serve customers better than competitors. In doing so, it has focused on sustaining its competitive advantage through ________ excellence. - Answers customer When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through ________ excellence. - Answers operational