BUSN319 Quiz-QUESTIONS 1 questions and answers docs newly updated 2020 Grand Canyon

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BUSN319 Quiz-QUESTIONS 1 questions and answers docs newly updated 2020 Page 1 1. (TCO 4) Three commonly used methods of evaluating marketing programs are (Points : 5) sales analysi... s, marginal analysis, and cost analysis. sales analysis, profitability analysis, and marketing audits. marketing ROI, metrics, and dashboards. sales audits, cost audits, and marketing audits. internal audits, external audits, and marketing control boards. 2. (TCO 1) Marketing plans must enable results to be compared with planned targets which allows __________, the flexibility to update original plans. (Points : 5) replanning contingency planning downsizing dynamic planning proactive change 3. (TCO 3) Which marketing strategy focuses on a single market segment but adds additional product lines? (Points : 5) full coverage market specialization product specialization selective specialization market-product concentration 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter's four generic business strategies are differentiation, cost focus, differentiation focus, and (Points : 5) exclusivity electronic-focus. quality focus. cost leadership. service leadership. 5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5) corporate return on investment Gantt charts revenues associated with each point of market share trends in past and current revenues for industry and competitors in total and by segment possible cannibalization effects on other products in the line 6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5) corporate return on investment market share for the product revenues associated with each point of market share trends in past and current revenues for industry and competitors possible cannibalization effects on other products in the line 7. (TCO 3) The first decision in developing an advertising program is to (Points : 5) set the budget. state the mission of the advertising program. identify the target audience. select the appeal. select the media. 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are complexity, __________, and ancillary services. (Points : 5) Risk Size Durability Accessibility Acceptability 9. (TCO 4) At which stage in the product life cycle would your promotional objective be to persuade the consumer to buy the product rather than substitutes? (Points : 5) introduction growth incubation decline maturity 10. (TCO 2) The __________ includes advertising, personal selling, sales promotion, public relations and direct marketing. (Points : 5) promotion channel communication chain marketing matrix promotional mix media mix 11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5) The least precise terms used to describe marketing intermediaries are dealer and distributor. A retailer sells to business markets. An agent has no legal authority to act on behalf of a manufacturer. A wholesaler is an intermediary who sells to consumers. A broker is a synonym for a dealer. 12. (TCO 7) Price fixing is (Points : 5) an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor. the practice of charging a very low price for a product with the intent of driving competitors out of business. the practice of charging different prices to different buyers for goods of like grade and quality. a conspiracy among firms to set prices for a product. a seller's requirement that the purchaser of one product also buy another product in the line. 13. (TCO 2) Which of the following is NOT one of the six major pricing objectives? (Points : 5) profit unit volume break-even survival market share 14. (TCO 3) The ratio of perceived benefits to __________ is called value. (Points : 5) price prestige value value-added pricing value analysis perceived costs 15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that have common needs and will (Points : 5) pay attention to marketing messages. respond similarly to a marketing action. be responsive to marketing research. use the same payment methods. go shopping on a regular basis. 16. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 5) environmental trending. organizational scanning. environmental scanning. a SWOT analysis. acquisition scanning. 17. (TCO 1) A key role of the marketing department is to (Points : 5) allocate financial resources across business units. set the overall mission of the company. provide talent management services. look outward. assess global political situations. 18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5) the large number of one-to-one relationships customers are asked to sustain the large number of products on the market the increasing number of retail stores that are closing the changing regulatory environment diluted cultural diversity [Show More]

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