Need Help with MKT 571 Coursework Week One Quiz

Need Help with MKT 571 Coursework Week One Quiz

Question – 1 A company’s sales potential would be equal to market potential when which situationsÂ
exists? Â
 Â
a) The company gets 100 percent share of the market.Â
b) Industry marketing expenditures approach infinity for a given marketing environment.Â
c) The marketing expenditure of the company is reduced to zero.Â
d) The market is nonexpandable.Â
Â
Â
2 Marketing is considered both an art and a science. How do the 4Ps, or marketing mix,Â
help us bridge the gap between art and science?Â
 Â
a) …Read MoreMarketing focuses on sales as the primary goal.Â
b) Marketing is about advertising.Â
c) Marketing is involved with price as the major factor.Â
d) Marketing balances the need for data with that of creativity.Â
Â
3 Wabash Bank would like to understand if there is a relationship between theÂ
advertising or promotion it does and the number of new customers the bank gets eachÂ
quarter. What type of research is this an example of? Â
 Â
a)Â CausalÂ
b)Â QualitativeÂ
c)Â SecondaryÂ
d)Â ExploratoryÂ
Â
4 Costco is able to keep its inventory expenditure relatively low through its managementÂ
technology and cutting­edge point­of­sale inventory management technology. As aÂ
result, Costco is able to pass these savings on to consumers in the form of low prices.Â
This strategy is best described as Â
 Â
a) market development Â
b) overall cost leadership Â
c)Â differentiationÂ
d) integrative growthÂ
Â
5 In the U.S., consumer expenditures on homes and other large purchases tend to slowÂ
down during a recession becauseÂ
 Â
a) of stringent credit policies adopted by the Fed before the onset of recessionÂ
b) of steady supply of loanable funds in the economy during recessionÂ
c) the consumers have a high debt­to­income ratioÂ
d) consumer borrowing increases during recessionÂ

Â
6 By 2015, projections indicate that the largest category of households will be composedÂ
ofÂ
 Â
a) married couples with children Â
b) childless married couples and empty nestersÂ
c) singles living with nonrelativesÂ
d) single­parent familiesÂ
Â
7 Which of the following elements of sociocultural environment can be associated withÂ
the growing demand for social surrogates like social networking sites, television, and soÂ
on?Â
 Â
a) Views of natureÂ
b) Views of organizationsÂ
c) Views of othersÂ
d) Views of ourselvesÂ
Â
8 How does the market demand curve change (as a function of marketing expenditure)Â
during recession?Â
 Â
a) Remains unaffectedÂ
b) Shifts upwardÂ
c) Becomes verticalÂ
d) Shifts downwardÂ
Â
9 During the holidays, companies often provide gifts to customers. The more a clientÂ
spends, the larger the gift, usually. To segment customers in this way, for what purposeÂ
is this data being mined?Â
 Â
a) To avoid serious customer mistakesÂ
b) To deepen customer loyaltyÂ
c) To decide which customers should receive a new sales offerÂ
d) To beat the competition to a saleÂ
Â
10 What data analysis type is being used here? When Sam thought about opening aÂ
foreign car repair shop in Phoenix, he researched all of the firms in the area beforeÂ
deciding on a location. He also analyzed their capabilities and found articles about manyÂ
of them in terms of their capabilities, strengths, and weaknesses.Â
 Â
a) Licensed information Â
b) Primary dataÂ
c) Tertiary in…


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