Liberty University BUSI 330 Midterm Exam Complete Solutions Correct Answers Key
Complete solutions for the midterm exam.
Victoria Lee
Contributor
4.4
50
about 1 month ago
Preview (8 of 25)
Sign in to access the full document!
Liberty University BUSI 330 Midterm Exam Complete Solutions Correct Answers Key
More than two versions
Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?
Which of the following statements describes an environmental force?
Organizations such as American Airlines, U.S. Bank, and the Red Cross provide customers with
products that are typically called a(n)
Shortly after World War II, Sam Jackson developed an idea for a biodegradable lubricant that was
superior to anything currently on the market. He was excited about his new idea and persuaded a
number of his friends to help produce samples… This is an example of marketing behavior that
would occur during the era of U.S. business history.
The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at
the door is .
The value to consumers that comes from having the offering available when they need it
constitutes utility.
All of the following are true about marketing except:
Many companies subscribe to being “green” because they feel that consumers value this. Yet, in
many of these same firms, office computers are left on 24 hours a day and office paper is not
recycled. This example indicates it is not always easy for firms to act in accordance with the
A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He
doesn’t know how to find a dealer though, and doesn’t have Internet access. Which of the
following reasons explain why marketing fails to occur here?
3M’s place strategy in its marketing program made it convenient for to buy Post-
it Flag Highlighters and Post-it Flag Pens.
Insisting upon a market orientation within one’s firm first occurred during which era in U.S.
business history?
According to Figure 2-3c above, which of the following states has the highest number of monthly
website visits?
More than two versions
Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?
Which of the following statements describes an environmental force?
Organizations such as American Airlines, U.S. Bank, and the Red Cross provide customers with
products that are typically called a(n)
Shortly after World War II, Sam Jackson developed an idea for a biodegradable lubricant that was
superior to anything currently on the market. He was excited about his new idea and persuaded a
number of his friends to help produce samples… This is an example of marketing behavior that
would occur during the era of U.S. business history.
The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at
the door is .
The value to consumers that comes from having the offering available when they need it
constitutes utility.
All of the following are true about marketing except:
Many companies subscribe to being “green” because they feel that consumers value this. Yet, in
many of these same firms, office computers are left on 24 hours a day and office paper is not
recycled. This example indicates it is not always easy for firms to act in accordance with the
A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He
doesn’t know how to find a dealer though, and doesn’t have Internet access. Which of the
following reasons explain why marketing fails to occur here?
3M’s place strategy in its marketing program made it convenient for to buy Post-
it Flag Highlighters and Post-it Flag Pens.
Insisting upon a market orientation within one’s firm first occurred during which era in U.S.
business history?
According to Figure 2-3c above, which of the following states has the highest number of monthly
website visits?
Step 3 in the planning phase of the strategic marketing process consists of
“HowAboutWe is the fastest, easiest, most fun way to go on awesome dates” is the for
the online dating service that focuses on setting up actual activities as dates for its users.
Despite being slow to exploit its digital camera technology, Kodak eventually did (moved
successfully from a question mark to a star) and became the market leader by 2005. The product
was then considered to be a cash cow. However, with the arrival of smartphones such as Apple’s
iPhone in 2007, sales fell dramatically by 2012 and the Kodak’s digital camera SBU approached
being a in its portfolio.
Specialized functions such as marketing and finance are generally referred to as
Men’s Wearhouse caters to the man who doesn’t necessarily enjoy shopping… The MW targets
the budget-conscious consumer with suit prices ranging from $250 to $500. Earnings rose 23%
recently, indicating that the location of its stores and the pricing strategy both are part of MW’s
One of the strengths inherent in the use of BCG business portfolio analysis is that it
The marketing strategy to sell current products to new markets is referred to as
The second phase of the strategic marketing process is the
The name Netflix was chosen specifically because
The primary purpose of a marketing metric is to
Moral idealism refers to
There are three concepts of social responsibility, each relating to particular constituencies.
According to Figure 3-A above, “C” represents responsibility.
All of the following statements about a person’s moral philosophy are true EXCEPT:
The form of competition in which many sellers compete with their products on a substitutable
basis within a price range is called.
Multicultural marketing refers to combinations of the marketing mix that reflect the unique
attitudes, ancestry, communication preferences, and lifestyles of different
In marketing, the effective rules of the game, the boundaries between competitive and unethical
behavior, and the codes of conduct in business dealings are referred to as
“HowAboutWe is the fastest, easiest, most fun way to go on awesome dates” is the for
the online dating service that focuses on setting up actual activities as dates for its users.
Despite being slow to exploit its digital camera technology, Kodak eventually did (moved
successfully from a question mark to a star) and became the market leader by 2005. The product
was then considered to be a cash cow. However, with the arrival of smartphones such as Apple’s
iPhone in 2007, sales fell dramatically by 2012 and the Kodak’s digital camera SBU approached
being a in its portfolio.
Specialized functions such as marketing and finance are generally referred to as
Men’s Wearhouse caters to the man who doesn’t necessarily enjoy shopping… The MW targets
the budget-conscious consumer with suit prices ranging from $250 to $500. Earnings rose 23%
recently, indicating that the location of its stores and the pricing strategy both are part of MW’s
One of the strengths inherent in the use of BCG business portfolio analysis is that it
The marketing strategy to sell current products to new markets is referred to as
The second phase of the strategic marketing process is the
The name Netflix was chosen specifically because
The primary purpose of a marketing metric is to
Moral idealism refers to
There are three concepts of social responsibility, each relating to particular constituencies.
According to Figure 3-A above, “C” represents responsibility.
All of the following statements about a person’s moral philosophy are true EXCEPT:
The form of competition in which many sellers compete with their products on a substitutable
basis within a price range is called.
Multicultural marketing refers to combinations of the marketing mix that reflect the unique
attitudes, ancestry, communication preferences, and lifestyles of different
In marketing, the effective rules of the game, the boundaries between competitive and unethical
behavior, and the codes of conduct in business dealings are referred to as
A firm conducting an environmental scan of the marketplace might uncover key like
the growth of social networks or the increasing economic impact of Asia
Economic espionage refers to
The Lanham Act (1946)
Income used to buy luxury items such as a Cunard cruise is referred to as
In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises
readers that “The company has helped you enjoy your time with the kids and it can now help you
enjoy your time without them.” The ad is most likely targeted toward which generational cohort?
Febreeze is an odor-controlling spray that is manufactured by Procter & Gamble. When Febreeze
was introduced, a few people in a chat room stated that the product was harmful to house pets.
Though untrue, unfortunately the rumor spread. If P&G had not been convinced it would be a
very successful product, it would have dropped Febreeze from its P&G product line as a result of
In most cases, which problem solving variation would be used for blenders, lunch, and
professional ball game tickets?
Advertising explains that the drug Plavix works by preventing plague buildup in arteries that can
cause heart attack and stroke. This is an example of
VALS groups of consumers motivated by are those who are guided by knowledge and
principle
Vals creates profiles of people based on their primary motivation and resources. In the VALS
framework above, “B” refers to
Selective exposure is most likely to occur during which stage of the consumer purchase decision
process?
Which of the following statements about the family life cycle is most accurate?
VALS groups of consumers motivated by are those who look for products and
services that demonstrate success to their peers or to a peer group they aspire to
When Kia Motors offers a 10-year, 100,000-mile warranty for the Kia Soul automobile, its strategy
is to reduce consumers’ and encourage purchases
the growth of social networks or the increasing economic impact of Asia
Economic espionage refers to
The Lanham Act (1946)
Income used to buy luxury items such as a Cunard cruise is referred to as
In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises
readers that “The company has helped you enjoy your time with the kids and it can now help you
enjoy your time without them.” The ad is most likely targeted toward which generational cohort?
Febreeze is an odor-controlling spray that is manufactured by Procter & Gamble. When Febreeze
was introduced, a few people in a chat room stated that the product was harmful to house pets.
Though untrue, unfortunately the rumor spread. If P&G had not been convinced it would be a
very successful product, it would have dropped Febreeze from its P&G product line as a result of
In most cases, which problem solving variation would be used for blenders, lunch, and
professional ball game tickets?
Advertising explains that the drug Plavix works by preventing plague buildup in arteries that can
cause heart attack and stroke. This is an example of
VALS groups of consumers motivated by are those who are guided by knowledge and
principle
Vals creates profiles of people based on their primary motivation and resources. In the VALS
framework above, “B” refers to
Selective exposure is most likely to occur during which stage of the consumer purchase decision
process?
Which of the following statements about the family life cycle is most accurate?
VALS groups of consumers motivated by are those who look for products and
services that demonstrate success to their peers or to a peer group they aspire to
When Kia Motors offers a 10-year, 100,000-mile warranty for the Kia Soul automobile, its strategy
is to reduce consumers’ and encourage purchases
The process by which an individual selects, organized, interprets information to create a
meaningful picture of the world is referred to as
Many automobile dealerships employ a non-negotiable or “no haggle” price strategy to sell their
cars. A customer who wants to buy a new or used car would pay the posted price. These dealers
probably adopted this pricing policy because
The sales department’s identification of an improvement made to a competitor’s product would
occur during which stage of the organizational buying decision process?
Another name for an e-marketplace is a(n)
Large multi-store chain retailers such as Sears, Safeway, and Target use a highly formalized buying
center referred to as a(n)
Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste
would be an example of demand
When JCPMedia buys paper, it considers suppliers’ forest management and other sustainability
practices. For JCPMedia, these are important
A buy class situation affects buying center tendencies in different ways. If there are two or three
people involved, the problem definition has only minor modifications, and the buying objective is
the low-priced supplier, the buy class situation is a
An IT engineer specifies the type of plug-in to be used on the company’s new websites. The
engineer also chooses the supplier who receives the contract to provide the software. In the
buying center, this person is the
For routine orders, the decider is usually
Most large multistore chain resellers use that are highly formalized and known as
buying committees to arrive at buying decisions.
Which of the following is a service business within the industrial market?
In a buying center, affect the buying decision, usually by helping define the
specifications for what is bought
Exporting refers to a global market-entry strategy
meaningful picture of the world is referred to as
Many automobile dealerships employ a non-negotiable or “no haggle” price strategy to sell their
cars. A customer who wants to buy a new or used car would pay the posted price. These dealers
probably adopted this pricing policy because
The sales department’s identification of an improvement made to a competitor’s product would
occur during which stage of the organizational buying decision process?
Another name for an e-marketplace is a(n)
Large multi-store chain retailers such as Sears, Safeway, and Target use a highly formalized buying
center referred to as a(n)
Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste
would be an example of demand
When JCPMedia buys paper, it considers suppliers’ forest management and other sustainability
practices. For JCPMedia, these are important
A buy class situation affects buying center tendencies in different ways. If there are two or three
people involved, the problem definition has only minor modifications, and the buying objective is
the low-priced supplier, the buy class situation is a
An IT engineer specifies the type of plug-in to be used on the company’s new websites. The
engineer also chooses the supplier who receives the contract to provide the software. In the
buying center, this person is the
For routine orders, the decider is usually
Most large multistore chain resellers use that are highly formalized and known as
buying committees to arrive at buying decisions.
Which of the following is a service business within the industrial market?
In a buying center, affect the buying decision, usually by helping define the
specifications for what is bought
Exporting refers to a global market-entry strategy
Loading page 6...
Loading page 7...
Loading page 8...
3 more pages available. Scroll down to load them.
Preview Mode
Sign in to access the full document!
100%
Study Now!
XY-Copilot AI
Unlimited Access
Secure Payment
Instant Access
24/7 Support
Document Chat
Document Details
University
Liberty University
Subject
Business Management