Adams State University BUS 304 Module 3 Quiz (2015) Answers

Take Test: module 3 quiz

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Course Principles of Marketing

Test module 3 quiz

Question 1

1. Subcontracting to a foreign company is a contractual agreement that allows avoidance of the import duties and regulations.

1. False

2. True

2 points

Question 2

1. Food manufacturers often set up tables in grocery stores where customers can sample featured products. The goal of this type of promotion is to influence the _____ component of attitude.

1. behavioral

2. rational

3. cognitive

4. affective

2 points

Question 3

1. Education, individualism, freedom, health and humanitarianism are some of the:

1. considerations involved in the formation of family groups.

2. core values in U.S. culture.

3. buying activities related to and based internationally.

4. objectives reached by most people.

2 points

Question 4

1. Business marketers advertise primarily to announce new products, to enhance their company image and presence, and to attract potential customers who would then deal directly with a salesperson.

1. False

2. True

2 points

Question 5

1. A business paying for the use of equipment owned by an outside supplier for a specified period of time is known as:

1. supply chain management.

2. external acquisition.

3. leasing.

4. supplier research.

2 points

Question 6

1. Culture can be defined as values, beliefs, preferences, and tastes that are handed down from one generation to the next.

1. True

2. False

2 points

Question 7

1. Generally speaking, human behavior is primarily a function of pressures exerted by outside environmental forces on the individual.

1. False

2. True

2 points

Question 8

1. When business purchasers shift from straight rebuy to modified rebuy behavior, it is often due to:

1. a deterioration in supplier service or delivery.

2. the routine buying format being outdated.

3. corporate expansion.

4. a change in the accelerator principle.

2 points

Question 9

1. A manufacturer retains more control over the export process when it deals with an export-management company than if it were to sell the goods outright to an export-trading company.

1. False

2. True

2 points

Question 10

1. Assume China and the United States are involved in a trade dispute. Which organization will attempt to resolve the dispute?

1. WTO

2. GATT

3. United Nations

4. EU

2 points

Question 11

1. A company's buying center encompasses:

1. a representative from each department within an organization.

2. only a gatekeeper and a buyer.

3. everyone who is involved in any aspect of the buying process.

4. an exclusive top-notch buying department.

2 points

Question 12

1. “Merchandiser” is the common designation for a purchasing agent in wholesale and retail trades.

1. False

2. True

2 points

Question 13

1. Approximately, half of the U.S. national GDP generated by services comes from:

1. retailing.

2. entertainment.

3. tourism.

4. banking.

2 points

Question 14

1. Honda, a Japanese firm, builds a factory in Alabama to make minivans to be marketed to Americans. This strategy is best described as:

1. indirect exporting.

2. international direct investment by Honda in the United States.

3. a joint venture between Honda and Alabama legislatures seeking to increase employment opportunities.

4. foreign marketing by Honda.

2 points

Question 15

1. In the B2B marketplace, segmentation based on the precise way in which the business will use the product is called:

1. segmentation by customer type.

2. segmentation by purchasing situation.

3. end-use application segmentation.

4. segmentation by demographic characteristics.

2 points

Question 16

1. If the demand for product A stays constant regardless of the increase or decrease in demand for product B, it can be said that product A is experiencing _____ demand.

1. joint

2. volatile

3. derived

4. inelastic

2 points

Question 17

1. NAFTA created a common market among countries in North America.

1. True

2. False

2 points

Question 18

1. Which of the following is one of the major policy initiatives of the WTO?

1. Liberalizing world financial services.

2. Increasing the average level of education worldwide.

3. Promoting and protecting the environment.

4. Regulating automobile production by less-advanced nations.

2 points

Question 19

1. NAFTA has experienced more success than the European Union because the United States, Mexico, and Canada only concern themselves with three languages, whereas the EU has 25 nations speaking 25 different languages.

1. True

2. False

2 points

Question 20

1. Marketers find various methods like providing exclusive, unique or prestigious products to attract and impress the upper classes.

1. False

2. True

2 points

Question 21

1. If consumer demand for dishwashers increases, dishwasher manufacturers will buy more raw materials, components and supplies as a result of the link between the consumer market and the industrial market. This linkage is called coordinated demand.

1. True

2. False

2 points

Question 22

1. The most profitable service export for the United States is:

1. entertainment.

2. business and financial services.

3. retailing.

4. medical services.

2 points

Question 23

1. Which of the following is not an example of international direct investment by a firm?

1. Overseas marketing subsidiaries

2. Acquisition of an existing foreign company

3. Foreign sales office

4. Export management company

2 points

Question 24

1. All of the following are advantages of foreign licensing over exporting except:

1. access to the local partners' (licensees') marketing information.

2. access to local distribution channels.

3. protection from certain legal barriers.

4. less control of the venture by the licensor.

2 points

Question 25

1. A buying situation in which business purchasers are willing to re-evaluate their available options is known as:

1. new-task buying.

2. routinized response behavior.

3. a modified rebuy.

4. a straight rebuy.