MKT571 MKT/571 Week 1 Quiz (18/18) - 57144

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MKT-571 MKT/571 MKT571 Week 1 Quiz

1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 

2. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing 

3. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings. 

4. A company’s sales potential would be equal to market potential when which situations exists? 

5. One of the most critical steps in the defining process of market research is

6. What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and found articles about many of them in terms of their capabilities, strengths, and weaknesses.

 

7. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because

 

8. Which of the following is correct about marketing management?

 

9. Which of the following industries is most likely to use database marketing?

10. Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science?

11. Which of the following elements of sociocultural environment can be associated with the growing demand for social surrogates like social networking sites, television, and so on?

 

12. Which of the following statements demonstrates behavioral loyalty towards a brand?

13. Wabash Bank would like to understand if there is a relationship between the advertising or promotion it does and the number of new customers the bank gets each quarter. What type of research is this an example of? 

14. Which market do customers who have purchased and are driving Audi automobiles represent?

By 2015, projections indicate that the largest category of households will be composed of

16. During the holidays, companies often provide gifts to customers. The more a client spends, the larger the gift, usually. To segment customers in this way, for what purpose is this data being mined?

17. When Apple introduced iTunes, a new market was opened. Which of the following describes this type of innovation?

18. How does the market demand curve change (as a function of marketing expenditure) during recession?

Solution Description

1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 

2. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing 

3. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings. 

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