C16 Principles of Marketing Exam 1 Answers (Ashworth College)

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C16 Principles of Marketing Exam 1 Answers (Ashworth College)

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C16 Principles of Marketing Exam 1 Answers (Ashworth College)

Question 1 of 20

5.0/ 5.0 Points

Which of the following is a consumer product?

A. Salt and gravel used by cities to spread on icy roads

B. A bulk package of tissues to be separated and resold at a convenience store

C. A bag of potato chips to be eaten by an individual

D. A carton of tomatoes to be used at a restaurant

Question 2 of 20

0.0/ 5.0 Points

Columbia Sportswear makes nylon activewear. Its marketing manager set a goal to use greater promotional efforts to increase by 12% over the next three years the sales of the company’s line of comfortable, lightweight clothing for people who fish. Columbia Sportswear’s marketing manager is engaged in:

A. portfolio planning.

B. strategic planning.

C. tactical planning.

D. mass marketing.

Question 3 of 20

5.0/ 5.0 Points

In a basic SWOT analysis, the “S” stands for:

A. situation.

B. solutions.

C. satisfactions.

D. strengths

Question 4 of 20

5.0/ 5.0 Points

Don Brady is responsible for obtaining price quotations from various vendors. After reviewing the vendors’ proposals, Don then determines whether or not to send each vendor a contract. Don apparently plays two roles in the buying center, that of __________ and __________.

A. user; buyer

B. buyer; gatekeeper

C. initiator; user

D. decider; buyer

Question 5 of 20

5.0/ 5.0 Points

A company that focuses on building value-added relationships is most likely to place the highest value on which of the following?

A. Cutting short-term costs

B. Building long-term relationships

C. Attracting one-time customers who are highly profitable

D. Building short-term relationships

Question 6 of 20

5.0/ 5.0 Points

According to your textbook, modern marketing has its roots in all of the following EXCEPT:

A. anthropology.

B. economics.

C. psychology.

D. sociology.

Question 7 of 20

5.0/ 5.0 Points

A marketer who first identifies consumer needs and then creates value by providing products that satisfy those needs is practicing the:

A. sales orientation.

B. marketing concept.

C. customer lifetime value concept.

D. production orientation.

Question 8 of 20

5.0/ 5.0 Points

Risk-taking and the promise of servicing a product after purchase are examples of __________ functions.

A. exchange

B. facilitating

C. consumer

D. public

Question 9 of 20

5.0/ 5.0 Points

Business legislation has been created for three basic reasons: to protect companies from each other, to protect consumers, and to:

A. protect the interests of society.

B. regulate prices.

C. increase world trade.

D. regulate monopolies.

Question 10 of 20

5.0/ 5.0 Points

A __________ is the process a business uses to evaluate the different combinations of products and services the business offers.

A. SWOT analysis

B. portfolio analysis

C. marketing mix

D. ROMI analysis

Question 11 of 20

5.0/ 5.0 Points

In marketing terms, B2B stands for:

A. buyer-to-buyer.

B. buyer-to-business.

C. business-to-buyer.

D. business-to-business.

Question 12 of 20

5.0/ 5.0 Points

A company would most likely use the Porter analysis for which of the following?

A. Determining whether or not to expand a brand into a new market segment

B. Assessing employee understanding of and commitment to company values

C. Identifying shifting cultural values relevant to the company’s products

D. Identifying lobbying efforts with the highest likelihood of success

Question 13 of 20

5.0/ 5.0 Points

In recent years, security regulations initiated by the federal government through the Transportation Safety Administration affected Southwest Airlines. These regulations are part of the __________ affecting this airline.

A. external environment

B. internal environment

C. competitive environment

D. brand strategies

Question 14 of 20

5.0/ 5.0 Points

__________ are necessities to meet urgent requirements.

A. Needs

B. Wants

C. Demands

D. Utilities

Question 15 of 20

5.0/ 5.0 Points

Which of the following is the BEST example of a service?

A. The medical examination Jonathon had yesterday

B. The sheet music purchased by the piano teacher

C. The software Monica purchased from a website

D. The cleaning supplies purchased for the veterinarian’s office

Question 16 of 20

5.0/ 5.0 Points

Which of the following would a company most likely use to conduct a marketing audit?

A. the Five Forces of Competitive Position Model

B. ROMI analysis

C. the BCG matrix

D. CRM analysis

Question 17 of 20

5.0/ 5.0 Points

A company’s business mission serves as a statement of:

A. fact.

B. achievement.

C. purpose.

D. financial goals.

Question 18 of 20

5.0/ 5.0 Points

Large business purchasers usually call for detailed product specifications, written purchase orders, careful supplier searches, and formal approval. These are all examples of how the business buying process is more __________ than the consumer buying process.

A. formalized

B. creative

C. opinion-based

D. independent

Question 19 of 20

5.0/ 5.0 Points

Which of the following groups is the ultimate judge of a product’s utility?

A. Marketers

B. Management

C. Consumers

D. Suppliers

Question 20 of 20

5.0/ 5.0 Points

Which of the following marketing orientations was prevalent during the years of the Great Depression?

A. Product

B. Social responsibility

C. Consumer

D. Sales

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