Strayer MKt100 week 3 quiz 2
Question 1
Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called
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strengths. |
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market strategies. |
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market niches. |
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threats. |
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opportunities. |
Question 2
The term "____" describes measuring and evaluating a firm's quality in products and processes against industry leaders.
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total quality management |
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benchmarking |
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internal marketing |
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empowerment |
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implementation |
Question 3
According to the text, a market is defined as
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a place to buy products. |
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the buyers of the products that a company develops, promotes, prices, and distributes. |
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the specific group of customers on whom an organization focuses its marketing efforts. |
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a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase these products. |
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the percentage of a group of customers that actually buys a specific product from a specific company. |
Question 4
An organization's business goals should be derived from its
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mission statement. |
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strategic plan. |
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strategic business plan. |
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marketing plan. |
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marketing strategy. |
Question 5
The Boston Consulting Group classifies products that have a dominant market share but low prospects for growth and that generate more cash than is required to maintain market share as
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dogs. |
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cash cows. |
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stars. |
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cash contributors. |
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question marks. |
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Question 6 According to the Boston Consulting Group, marketers may classify their products as all of the following except Answer
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Question 8
A marketing unit can be organized according to functions, products, regions, and
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sales. |
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target markets. |
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competitive units. |
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types of customers. |
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product features. |
Question 9
A ____ is created when a company matches its core competency to opportunities it has discovered in the marketplace.
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market opportunity |
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market requirement |
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competitive advantage |
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strategic window |
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competitive opportunity |
Question 10
Resource deployment and coordination of functional areas of business are determined by
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the mission statement. |
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corporate strategy. |
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business-unit strategy. |
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marketing strategy. |
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the marketing mix. |
Question 11
The amount of money received through wages, rents, investments, pensions, and subsidies is called
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income. |
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wealth. |
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discretionary income. |
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prosperity. |
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credit. |
Question 12
Employees, customers, communities, and investors are all considered ____ in relation to marketing.
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responsibilities |
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stakeholders |
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shareholders |
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constituents |
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owners |
Question 13
Consumers begin to become more price and value conscious during periods of
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inflation. |
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prosperity. |
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recession. |
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depression. |
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recovery. |
Question 14
Procompetitive laws are those designed to
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preserve competition. |
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protect the consumer. |
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ensure product safety. |
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reduce competition. |
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limit business lobbying of government officials. |
Question 15
Assuming that inflation is low, high buying power characterizes the ____ stage of the business cycle.
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prosperity |
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depression |
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recovery |
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succession |
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recession |
Question 16
Marketing ethics
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refers to laws and regulations that govern marketing. |
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refers to principles and standards that define acceptable conduct in marketing. |
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maximizes an organization's positive impact and minimizes its negative impact on society. |
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is most important for advertising agencies. |
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applies well-defined rules for appropriate marketing behavior. |
Question 17
Total buying power declines during periods of economic
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recovery. |
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prosperity. |
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recession. |
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uncertainty. |
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expansion. |
Question 18
When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.
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oligopoly |
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monopoly |
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pure competition |
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oligopolistic competition |
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monopolistic competition |
Question 19
Which of the following agencies would most likely have jurisdiction over the problem with lead in the paint of children's toys?
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Consumer Product Safety Commission |
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Children's Online Protection Act |
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Food and Drug Administration |
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Environmental Protection Agency |
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National Advertising Review Board |
Question 20
The 1990 Nutritional Labeling and Education Act directly prohibits
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exaggerated claims made by health and fitness products. |
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putting the words "cholesterol-free" on any food package. |
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putting nutritional information on most food products. |
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exaggerated health claims on food packages. |
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the use of any health claim on food packaging. |
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Solution: Strayer MKt100 week 3 quiz 2