Random
What is/are?
Application
Business Decisions
Consumer Behavior
100
What is true regarding causality and correlation? (1) Causality does not imply correlation, (2) correlation leads to causality, (3) causality leads to correlation, or (4) correlation does not lead to causality.
3,4
100
What are the three components of the fraud triangle?
Opportunity, pressure, rationalization
100
Testing Fish McBites is an example of which of the 4 P’s?
Product
100
In a buying center for a business, who is the gatekeeper?
Secretary
100
When you perceive a need, you notice a discrepancy between what?
Actual and desired state.
200
What social change over the last 50 years has had the greatest effect on marketing?
Women Working
200
What is marketing’s role within the firm?
Creating value for the firm’s chosen customers by meeting customer’s functional and emotional needs.
200
Wonderbread puts out an ad for its customers showing that its bread can be used for toast, sandwiches, French toast, and just for eating it plain. This is an example of what?
Market Penetration
200
If you want to conduct a research process to find out what direction to take for your new marketing campaign and begin by using the US census from that year, what kind of data are you starting with?
secondary data
200
You want to make a purchase and decide to go ask your friends what products they like. This is an example of what?
External Search
300
When you go into Nordstrom, they bring you more and more clothes while you’re in the dressing room and convince you to buy more than you originally thought you would. They also convince you to buy new dress socks, ties, and shoe polish. What profitability driver is this?
Sales Per Customer
300
What is the marketing mix?
Product, price, promotion, place (distribution)
300
You go to buy a car and the salesman uses very aggressive sales techniques and doesn’t care that you are a good, hard-working person who needs a car at a good price. He is using what marketing philosophy?
Sales Orientation
300
When do you not do research?
If the cost of a wrong assumption is less than the cost of the research, don’t do the research!
300
What kind of factors have the deepest influence on consumer behavior?
cultural factors
400
You work at Nike and are approached by a very angry customer who is NOT happy with his purchase. He says that his shoes weigh more than was advertised and that they slow down his running. Why are we happy about this situation?
When customers complain, we are able to explain ourselves, make it right, and retain them in the company.
400
What are the four profitability drivers?
Customer acquisition, customer retention, sales per customer, margin
400
You own a computer software development company and someone in Australia wants to sell your products. They contact you and ask if they can pay you to use your patent, name, manufacturing process, and trademark. You accept. What global market entry strategy is this?
Licensing
400
Apple decides to buy out a small company that manufactures blank cd’s. This small company generates extra cash for apple by selling a lot of its product without having much growth and development. This small company is a ____ for Apple.
Cash Cow
400
What are the two important points of consumer behavior?
Person variability and situation variability
500
It costs us $50 to make each smartphone that we sell for $100 each. In Iraq, the same smartphone would cost $60 to manufacture and only sells for $120. We enter the market in Iraq, selling our smartphones for $100. What is this an example of?
Price Dumping
500
What is sustainability?
Organizations focus on the world’s social problems and view them as opportunities to build profits and help the world.
500
In the following USP, what component is missing? For college-aged students who do not have a lot of money, Macey’s is the most economical store among all supermarkets.
Single most important support.
500
What question does corporate strategy ask?
What business SHOULD we be in?
500
If you hear an ad for a product you don’t like and interpret it to support your belief that that is a horrible product, you are using what kind of perception?
Selective Distortion
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