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Marketing creates utility. ____________________ is the benefit provided when products are stored or inventoried until they are needed. correct answers TIME A city hired a research company to survey spring break vacationers to learn about this market. One of the questions asked was, "If you were ...

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  • August 28, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
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  • marketing creates utility is

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MKTG 350 || Already Graded A+.
Marketing creates utility. ____________________ is the benefit provided when products are
stored or inventoried until they are needed. correct answers TIME

A city hired a research company to survey spring break vacationers to learn about this market.
One of the questions asked was, "If you were able to hang out on the beach with any celebrity,
who would she or he be?" This type of question is a means for gathering ________. correct
answers qualitative data

The three levels of business planning are ______ correct answers Strategic, Functional,
Operational

Grace is a researcher interested in determining the long-term effects of drinking sweet tea on
tooth enamel discoloration. She selects a group of 1,000 subjects that she looks at once per year
for 30 years for her study. This is an example of ______________________________ research.
correct answers observation method

Analysis of the external environment of an organization identifies the organization's
_________________. correct answers opportunities and threats

The Marketing Director at the Natalie's Windows wants to know what will happen if she reduces
her TV advertising spend by 50% - will her sales go down? Will she reach fewer customers?
What would be the best source to help answer her question? correct answers

Nintendo Wii, the popular video gaming system, decided to market its product to older
consumers as a light and fun physical workout option. This is an example of a
____________________________. correct answers Relationship era

A ____________________ is when one firm gives another firm the right to produce and market
its product in a specific country. correct answers licensing agreement

The extent to which research actually measures what it was intended to measure is called
______________. correct answers measurement

Buyers, sellers, or investors in a company; community residents; and citizens of nations where
goods and services are made or sold are all defined as _________________. correct answers
stakeholders

In most cases, which of the following is true about a least developed country (LDC)? correct
answers it has an economy based on agriculture

Case studies, ethnographies and focus groups are examples of which kind of research? correct
answers qualitative

, A customer's desire for a product coupled with the buying power or resources to obtain that
product is called ____________________. correct answers demand

In Henry Ford's famous quote, we learn that customers "can have any color they want, as long as
it is black." This best represents which marketing era? correct answers production- oriented era

Assignment of responsibilities, time lines, budgets, and measurement and control processes are
documented in a(n) _________________________. correct answers action plan

Mariana's Marina sells boats and boating supplies. They want to conduct a focus group to
determine the types of features customers look for most when purchasing a new yacht. The data
gathered in their study will be ___________________. correct answers qualitive research
method

Which of the following is a true statement about the four Ps of the marketing mix? correct
answers A decision about one of the Ps affects every other marketing-mix decision

Which of the following is the best example of a service? correct answers A) the medical
examination Jonathon had yesterday

Jason's Landing, a local restaurant, is looking to conduct a survey of 100 of its customers to
determine how much they are willing to spend on a new menu item. The owner believes men are
likely to spend more than women and wants to test his theory. Jason's Landing customers break
down to 60% men and 40% women. When selecting the sample for the survey, they split the
customer list into groups of men and women, then randomly select 60 men and 40 women to
participate. This type of sampling is known as _______________________. correct answers
probability

Define a CRM system. Then give me an example of one that you have seen at work in the real
world - describe and discuss WHY it is a CRM system. correct answers Customer relationship
management (CRM) is the combination of practices, strategies and technologies that companies
use to manage and analyze customer interactions and data throughout the customer lifecycle,
with the goal of improving customer service relationships and assisting in customer retention and
driving sales growth.

When a company decides to go global, they have to make a decision on their product strategies.
If they offer a similar but modified product in the foreign market, this is an example of
________. correct answers global product strategy

Which of the following is NOT a focus of customer relationship management? correct answers
undifferentiated targeting

Which of the following is NOT an example of a good? correct answers shopping malls

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