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BUSML 3250 Exam 1 Questions with Complete Solutions
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BUSML 3250 Exam 1 Questions with Complete Solutions
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BUSML 3250 Exam 1 Questions withComplete Solutions
achieve the organization's goals - Answer-The marketing concept is a philosophy that
states that an organization should try to satisfy customers' needs and also
Deciding whether or not to have retail outlets in addition to a website - Answer-Which of
the following scenarios involves the distribution element of the marketing mix?
sales - Answer-During the 1920s, competition increased and business people realized
they had to do more than just focus on manufacturing, which led to the ____ orientation.
product - Answer-Deciding to add gel insoles to its running shoes would be a change in
the ____ element of the marketing mix for Nike.
all efforts of the organization. - Answer-The marketing concept is a management
philosophy that affects
competitive advantage - Answer-A ____ is created when a company matches its core
competency to opportunities it has discovered in the marketplace.
Market - Answer-________: a group of individuals and/or organizations that have needs
for products in a product class and have the ability, willingness, and authority to
purchase those products.
stars - Answer-Based on the work by the Boston Consulting Group, products with a
dominant share of the market and good prospects for growth are
executive summary - Answer-A marketing plan document usually begins with a(n)
establish performance standards - Answer-The first step in the strategic performance
evaluation is to
Federal Trade Commission (FTC) - Answer-Of all the federal regulatory units, the ____
most heavily influences marketing activities.
preserve competition - Answer-Procompetitive laws are those designed to
cultural values - Answer-In addition to the proliferation of new organic brands, many
conventional marketers have introduced organic versions of their products, including
Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in
Product - Answer-____ competitors are those that compete in the same product class,
but their products have different features, benefits, and prices.
, the federal government - Answer-More than half of the research of technology created
is paid for by
stakeholder - Answer-Companies that are considered to be good corporate citizens and
consider the diverse perspectives of different groups affected by their operations are
said to have a ____ orientation.
philanthropic - Answer-Actions that promote human health and welfare address the
____ dimension of the pyramid of social responsibility.
safety - Answer-Product testing for reliability and quality helps to ensure a consumer's
right to
Promotion - Answer-A potato chip company advertises that its newly launched product
can lower cholesterol, although the company cannot provide evidence to substantiate
this claim. This situation involves an ethical issue related to which element of the
marketing mix?
Chief executive officer - Answer-Which of the following employees is most responsible
for setting the ethical tone for the entire marketing organization?
yields a group of brands that a buyer views as possible alternatives. - Answer-In the
consumer buying decision process, the information search stage
Cognitive dissonance - Answer-doubts that occur because the buyer questions whether
the decision to purchase the product was right.
Extended decision making - Answer-is the most complex decision-making behavior,
which comes into play when a purchase involves unfamiliar, expensive, or infrequently
bought products
Social surroundings - Answer-Thoughts about who is around when the product is
purchased relate to which of the following situational influences?
organization - Answer-After certain inputs have been selected to reach an individual's
awareness, the next step in the perceptual process is perceptual
Government - Answer-Which type of business market tends to have the most complex
buying procedures?
Orders in business markets tend to be smaller than those placed in consumer markets.
- Answer-Which of the following statements about business buying is false?
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