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Adams State University BUS 304 Module 1 Quiz Principles of Marketing (2015)

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Question 1 The strategic business unit (SBU) concept is best identified as a: 1. planning tool that separates tactical and operational issues for analysis. 2. marketing planning tool best suited to the needs of large, diversified organizations. 3. way to create units of business activity based solely on sales potential. 4. device used primarily to separate marketing costs from production expenses. 2 points Question 2 Which of the following is now the second-largest market in the world? 1. China 2. United Kingdom 3. Japan 4. India 2 points Question 3 1. One of the busiest areas of interactive marketing involves online auction sites, such as eBay. 1. False 2. True 2 points Question 4 The emergence of the marketing concept can best be explained by: 1. higher production levels. 2. a focus on product quality. 3. a shift from a seller’s market to a buyer’s market. 4. a shift from a production to a sales orientation. 2 points Question 5 In the relationship era, firms focus on: 1. long term relationships with customers and suppliers. 2. short term relationships with customers and suppliers. 3. long term relationships with customers. 4. short term relationships with suppliers. 2 points Question 6 Production and marketing of goods and services are two basic functions that create utility. 1. True 2. False 2 points Question 7 To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization. 1. False 2. True 2 points Question 8 1. The buying function of marketing involves advertising, personal selling, and sales promotion in the attempt to match products and services to consumer needs. 1. True 2. False 2 points Question 9 The rapid development of telecommunications from Internet to cell phones allows marketers to accomplish all of the following except: 1. standardize product lines and marketing promotions to appeal to the largest possible audience. 2. realize improved marketing efficiencies, including lower sales and marketing costs. 3. find new markets on a global level. 4. target markets to locate, secure, and maintain customers in a one-to-one marketing relationship. 2 points Question 10 Relationship marketing focuses more attention on _____ customers because new customers are _____ to acquire compared to existing customers. 1. new; less expensive 2. existing; more expensive 3. existing; less expensive 4. new; more expensive 2 points Question 11 Sally Myers, head of marketing at Sally’s Salon, serviced six new customers over the past two weeks. Through a feedback form, Sally learnt that all of them had acted upon the opinions of their friends and family members. What Sally encountered is an example of: 1. interactive marketing success. 2. a success story in buzz marketing. 3. effective target market strategies. 4. marketing myopia. 2 points Question 12 When determining product costs, marketing expenses will amount to approximately one half of the total cost of the product. 1. True 2. False 2 points Question 13 Whirlpool combines metal, rubber, and other components in the production of appliances. In doing so the company creates _____ utility. 1. ownership 2. place 3. form 4. time 2 points Question 14 Decisions about distribution strategy involve such challenges as: 1. placing an automatic stamping machine in the plant. 2. when to raise prices to cover costs. 3. warehouse design and inventory control. 4. where to advertise. 2 points Question 15 What is the third step in the planning process? Obtaining necessary financing Writing a marketing plan Assessing strengths, weaknesses, and opportunities Establishing organizational objectives 2 points Question 16 Some Florida drivers have license plates that say “Save the Manatee.” This is an example of _____ marketing. 1. organization 2. cause 3. event 4. place 2 points Question 17 Operat

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