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1. MKT 571 Final Exam
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MKT 571 Week 1 Quiz -
1.Whatdata analysis typeis being used here? When Sam thought about
openinga foreign car repair shop in Phoenix, he researched all of the firms
in the area before decidingon a location. He also analyzed their capabilities
and found articles about many of them in terms of their capabilities,
strengths, and weaknesses.
 Secondary data
 Primary data
 Licensed information
 Tertiary information
2. Marketing is considered both an art and a science. How do the 4Ps, or
marketing mix, help us bridge the gap between art and science?
 Marketingfocuses on sales as the primary goal.
 Marketingbalances the need for data with that of creativity.
 Marketingis about advertising.
 Marketingis involved withprice as the major factor.

2. 3. Which of the followingstatements demonstratesbehavioral loyalty
towardsa brand?
 My friends agree My favourite Laundry detergentisthe best.
 My favourite Laundry detergentis so easy to use.
 My favourite Laundry detergentsmells good.
 I always buy my favourite Laundry detergentwhen purchasinglaundry
detergent.
4.By 2015, projectionsindicatethat the largest category of households will
be composed of
 childless married couples and empty nesters
 married couples with children
 single-parentfamilies
 singles living with nonrelatives
5. One of the most critical steps in the definingprocess of market research
is
 readingmarketing research journals
 definingthe problem, the decision alternatives, and research objectives
 analyzingthe internal environment
 developinga research plan
6. Which of the followingis correct about marketingmanagement?
 It is primarily concerned withthe systematic gathering, recording, and
analysis of data about issues related to marketing products and services.
 It focuses mostly on monitoringthe profitability of a company's
products and services.
 It is defined as the field that deals with planningand managinga
business at the highest level of corporate organization.
 It occurs when at least oneparty to a potential exchange thinks about
the means of achieving desired responses from other parties.

3. 7.In the U.S., consumer expenditureson homesand other large purchases
tend to slow down duringarecession because
 of stringent credit policies adopted by the Fed before the onset of
recession
 the consumers havea high debt-to-income ratio
 of steady supply of loanable funds in the economy duringrecession
 consumer borrowingincreases duringrecession
8.Which of the followingelements of socioculturalenvironmentcan be
associated with the growingdemand for social surrogates like social
networkingsites, television, and so on?
 Views of ourselves
 Views of nature
 Views of others
 Views of organizations
9.WabashBank would like to understand if there is a relationship between
the advertisingor promotion it doesand the number of new customers the
bank gets each quarter. What typeof research is this an example of?
 Causal
 Exploratory
 Secondary
 Qualitative
10.Whichstrategy does this exemplify? Kayak and Orbitz providetheir
customerswith a variety of travel optionsincludingflight reservations,
vacation packages, flight and hotel optionswith or without car rentals, and
cruise offerings.
 Focus
 Diversification
 Differentiation
 Promotional

4. 11.Whichof the followingindustriesis mostlikely to usedatabase
marketing?
 A supermarketchain
 A local restaurant
 A physician’s office
 A school system
12.Whichmarket do customerswho have purchased and are drivingAudi
automobiles represent?
 Potential market
 Available market
 Target market
 Penetrated market
13.When AppleintroducediTunes, anew market wasopened. Which of the
followingdescribes this typeof innovation?
 Presence
 Operational excellence
 Value chain
 Value capture
14TheSoccer World Cup ispromoted aggressively to both companiesand
fans. This is an exampleof marketing a(n)
 service
 event
 place
 idea
15How doesthe market demand curvechange (as a function of marketing
expenditure)duringrecession?
 Shifts upward
 Becomes vertical
 Remains unaffected
 Shifts downward

5. 16A company'ssalespotential would be equal to market potential when
which situations exists?
 The marketingexpenditure of the company is reduced to zero.
 The company gets 100 percentshareof the market.
 Industry marketingexpenditures approachinfinity for agiven
marketing environment.
 The marketis non expandable.
17Duringtheholidays, companies often providegifts to customers. The
morea client spends, the larger the gift, usually. To segment customersin
this way, for what purposeisthis data being mined?
 To deepen customer loyalty
 To beat the competition to a sale
 To avoid serious customer mistakes
 To decide which customers should receive a new sales offer
18Costco is able to keep its inventory expenditurerelatively low through
its managementtechnology and cutting-edge point-of-sale inventory
managementtechnology. As a result, Costco is able to passthese savings on
to consumersin the form of low prices. This strategy is best described as
 market development
 integrative growth
 overall cost leadership
 differentiation
19..Whatdataanalysis typeis being used here? When Sam thought about
openinga foreign car repair shop in Phoenix, he researched all of the firms
in the area before decidingon a location. He also analyzed their capabilities
and found articles about many of them in terms of their capabilities,
strengths, and weaknesses.
 Secondary data
 Primary data
 Licensed information
 Tertiary information

6. 20.Whichof the followingstatements demonstratesbehavioral loyalty
towardsa brand?
 My friends agree Myfavorite Laundrydetergentis the best.
 My favorite Laundry detergentis so easy to use.
 My favorite Laundry detergentsmells good.
 I always buy Myfavorite Laundrydetergentwhen purchasinglaundry
detergent.
21.By 2015, projectionsindicatethat the largest category of households
will be composed of
 childless married couples and empty nesters
 married couples with children
 single-parentfamilies
 singles living with nonrelatives
22.Oneof the most critical steps in the definingprocessof market research
is
 readingmarketing research journals
 definingthe problem, the decision alternatives, and research
objectives
 analyzingthe internal environment
 developinga research plan
23.Whichof the followingis correct about marketing management?
 It is primarily concerned withthe systematic gathering, recording,
and analysis of data about issues related to marketing products and
services.
 It focuses mostly on monitoringthe profitability of a company's
products and services.
 It is defined as the field that deals with planningand managinga
business at the highest level of corporate organization.
 It occurs when at least oneparty to a potential exchange thinks about
the means of achieving desired responses from other parties.

7. 24. In the U.S., consumer expenditureson homesand other large purchases
tend to slow down duringarecession because
 of stringent credit policies adopted by the Fed before the onset of
recession
 the consumers havea high debt-to-income ratio
 of steady supply of loanable funds in the economy duringrecession
 consumer borrowingincreases duringrecession
25. Which of the followingelementsof socio cultural environmentcan be
associated with the growingdemand for social surrogates like social
networkingsites, television, and so on?
 Views of ourselves
 Views of nature
 Views of others
 Views of organizations
26. Wabash Bank would liketo understand if there is a relationship
between the advertisingor promotion it doesand the number of new
customersthe bank gets each quarter. What typeof research is this an
exampleof?
 Causal
 Exploratory
 Secondary
 Qualitative
27. Which strategy does this exemplify? Kayak and Orbitz providetheir
customerswith a variety of travel optionsincludingflight reservations,
vacation packages, flight and hotel optionswith or without car rentals, and
cruise offerings.
 Focus
 Diversification
 Differentiation
 Promotional

8. 28. Which of the followingindustriesis most likely to usedatabase
marketing?
 A supermarketchain
 A local restaurant
 A physician’s office
 A school system
29. Which market do customerswho have purchased and are drivingAudi
automobiles represent?
 Potential market
 Available market
 Target market
 Penetrated market
30. When Appleintroduced iTunes, anew market wasopened. Which of the
followingdescribes this typeof innovation?
 Presence
 Operational excellence
 Value chain
 Value capture
31.TheSoccer World Cup ispromoted aggressively to both companiesand
fans. This is an exampleof marketing a(n)
 service
 event
 place
 idea
32.How doesthe market demand curvechange(as a function of marketing
expenditure)duringrecession?
 Shifts upward
 Becomes vertical
 Remains unaffected

9.  Shifts downward
33. A company'ssalespotential would be equal to market potential when
which situations exists?
 The marketingexpenditure of the company isreduced to zero.
 The company gets 100 percentshareof the market.
 Industry marketingexpenditures approachinfinity for agiven
marketing environment.
 The marketis non expandable.
34. Duringthe holidays, companiesoften providegiftsto customers. The
morea client spends, the larger the gift, usually. To segment customersin
this way, for what purposeisthis data being mined?
 To deepen customer loyalty
 To beat the competition to a sale
 To avoid serious customer mistakes
 To decide which customers should receive a new sales offer
35. Costco is able to keep its inventory expenditurerelatively low through
its managementtechnology and cutting-edge point-of-sale inventory
managementtechnology. As a result, Costco is able to passthese savings on
to consumersin the form of low prices. This strategy is best described as
 market development
 integrative growth
 overall cost leadership
 differentiation
Complete paper here
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