Business > QUESTIONS & ANSWERS > DeVry University, New Jersey - BUSN 460 Week 4 CAPSIM. 10/10 Score (All)

DeVry University, New Jersey - BUSN 460 Week 4 CAPSIM. 10/10 Score

Document Content and Description Below

DeVry University, New Jersey - BUSN 460 Week 2. 10/10 Score QUESTION 1 The marketing mix includes: price promotion product placement all the above QUESTION 2 What is market segmentation? Dividing people into common groups based on Zip Code. Grouping products into distinct categories based on their historical sales levels Creating segments based on the five income levels Dividing your store (market) in separate areas for each kind of product that you sell Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs QUESTION 3 Market research is designed to: Help determine what is important to customers and how they want product to perform Produce a product that will have the highest Reliability possible Understand the funding of the business Track revenues and expenses to improve business information and planning Create a product that will sell at any price QUESTION 4 What is the "fifth" aspect of the marketing mix? distribution product price place service QUESTION 5 Price, promotion, placement and product (the four Ps) are aspects of what? Finance Accounting Management Marketing Advertising QUESTION 6 Market segmentation identifies customer groups on the basis of their needs regarding: geography demographics psychographics all the above QUESTION 7 Marketing strategy is most successful when it has: an internal focus an accounting focus a printed marketing document a customer orientation a bonus program in place QUESTION 8 Primary market research includes: conducting research based on published information online research reviewing articles and published data conducting direct research with existing and potential customers all the above QUESTION 9 What does target marketing involve? Selecting the largest market possible Concentrating marketing efforts on one or a few key markets most likely to buy your product. Focusing on anybody that may purchase the product Selecting only one market to reach The use of demographic information only QUESTION 10 What does the research and development department do? Determines sources of funding Allocates resources and responsibilities Creates new products and changes specifications on existing products based on customer needs Tracks revenues and expenses Designs more advanced production systems

[Show More]

Last updated: 3 years ago

Preview 1 out of 4 pages

Buy Now

Instant download