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Homework answers / question archive / Franklin University MBA 711 Chapter 11: 1)A retail store increases its hours of operation so that it is open from 9:00 a

Franklin University MBA 711 Chapter 11: 1)A retail store increases its hours of operation so that it is open from 9:00 a

Business

Franklin University

MBA 711

Chapter 11:

1)A retail store increases its hours of operation so that it is open from 9:00 a.m. until 9:00 p.m. Monday through Friday, and 9:00 a.m. until 6:00 p.m. on Saturday and Sunday. Which form of utility does this represent?

A.            Form

B.            Possession

C.            Place D. Time

E. Task

 

2.            In response to growing consumer demand for environmentally friendly products, a retailer of men's clothing offers a selection of vegan and leather-free footwear and carries only items that meet a strict set of environmental standards. This would BEST reflect which element of the company's external environment?

A.            Competitive environment B. Sociocultural environment

C.            Political-legal environment

D.            Economic environment

E.            Technological environment

 

3.            Exciting Electronics, Inc. provides options for its customers. Its products can be purchased online or at retail stores. What is Exciting Electronics providing?

A.            Form utility B. Place utility

C.            Value

D.            Time utility

E.            Possession utility

 

4.            For every $100 Jason spends each month on groceries at his favorite store, he receives 10 cents off a gallon of gas, so Jason often will drive out of his way to shop at this store. This is an example of

                .

A.            brand loyalty

B.            utility

C.            marketing mix

D.            public relations

E.            relationship marketing

 

5.            A company stops using a celebrity in its ads because he was reported to have made offensive racial comments. This is an example of how the            environment affects marketing.

A.            economic

B.            technological C. sociocultural

D. competitive

E. political-legal

 

6.            All cell phone companies have similar products, so their advertising focuses on convincing potential customers of the benefits their products offer. What are these companies facing?

A.            Geographic variables B. Brand competition

C.            Demographic variables

D.            International competition

E.            Substitute products competition

 

7.            The element of the marketing mix that includes personal selling, publicity and public relations, and direct or interactive marketing is .

A.            distribution B. promotion

C.            pricing

D.            product

E.            place

 

8.            The marketing mix is comprised of which four basic components? A. Product, pricing, place, and promotion

B.            Position, promotion, pricing, and public relations

C.            Product, pricing, possession, and promotion

D.            Form, time, place, and possession

E.            Product, promotion, pricing, and position

 

9.            Inventory control and transportation options are part of which of the four "Ps" of marketing?

A.            Public relations B. Place

C.            Promotion

D.            Product

E.            Price

 

10.          Custom Cosmetics is offering a free gift with any purchase of $25 or more. This is an example of

                .

A.            personal selling

B.            personal influence

C.            public relations D. sales promotion

E. advertising

 

11.          Employees of Magnificent Manufacturing are spending the weekend restoring a home for a local family in need. The company and some of its vendors have provided all the necessary materials and company employees will make the repairs. Magnificent Manufacturing has written a news release and sent it to the local television stations and newspapers. This is an example of  .

A.            advertising

B.            sales promotion

C.            personal influence

D.            personal selling E. public relations

 

12.          A mattress company advertises that they have a new technology that is so good, you won't have to count sheep to fall asleep and you'll finally get a good night's sleep. What is the mattress company attempting toaccomplish?

A. Psychographic segmentation B. Product differentiation

C.            Behavioral segmentation

D.            Demographic segmentation

E.            Personal influence

 

13.          A nationwide department store features a broader selection of winter coats and boots in its stores located in states with cooler climates than in its stores in states with warmer climates. This marketing decision reflects                segmentation.

A.            psychographic

B.            behavioral C. geographic

D. demographic

E. cultural

 

14.          Segmenting a broad target market on the basis of factors such as age, gender, income, family size, and occupation is      segmentation.

A.            geographic

B.            sociocultural

C.            psychographic

D.            behavioral E. demographic

 

15.          Krazy Kids focuses its advertising toward females between the ages of 25 and 35 with children under 6 years old. This is the company's             .

A.            target market

B.            behavioral segmentation

C.            demographic segmentation

D.            product differentiation

E.            psychographic segmentation

 

16.          Purchasing products in bulk and buying them for specific situations or for specific purposes are examples of which of the following?

A.            Demographic variables

B.            Geographic variables

C.            Psychographic variables

D.            Psychographic segmentation E. Behavioral variables

 

17.          Marvelous Merchandise has identified the categories of customers who have similar wants and needs and who are likely to be interested in its products. This is an example of        .

A. relationship marketing B. market segmentation

C.            product differentiation

D.            product positioning

E.            consumer behavior

 

 

18.          Which market segment uses age, income, gender, ethnic background, marital status, race, and religion to separate consumers?

A.            Geographic segmentation

B.            Psychographic segmentation

C.            Behavioral segmentation

D.            Geo-demographic segmentation E. Demographic segmentation

 

19.          Which of the following is the first step in the marketing research process?

A.            Collect the data.

B.            Analyze the data.

C.            Prepare the report.

D.            Select a research method. E. Study the current situation.

 

20.          The marketing department of a community college invites a group of students to participate in a guided discussion of their college experience, including what they like and dislike, and how their expectations of college life differ from their actual experiences. What form of marketing research is the community college using?

A.            Surveys

B.            Field trial

C.            Observation

D.            Experimentation E. Focus group

 

21.          Data a company collects itself when consumers test its products is           .

A.            secondary data

B.            public relations C. primary data

D. market segmentation

E. promotion

 

22.  Perfect Pizza likes to find out directly from customers what customers like and don't like. Management brings together groups of customers and asks them questions about the company and its products. This is an example of which of the following?

A. Experimentation B. Focus group

C.            Secondary data

D.            Observation

E.            Survey

 

22.          Management of Alright Airlines wanted to know why passengers were not selecting their flights, so they hired a company to make phone calls to former customers to find out why they switched to a different airline. What type of research did Alright Airlines conduct?

A.            Secondary data

B.            Observation

C.            Focus group

D.            Experimentation E. Survey

 

 

23.          What is the BEST way for a company to gather information that it needs quickly?

A.            Observation

B.            Focus group

C.            Secondary data

D.            Experimentation

E.            Survey

 

 

24.          Ruby is turned down for a promotion at work because she doesn't have a college degree, so she decides to go back to school. Which step of the consumer buying process does this BEST describe?

A.            Postpurchase evaluation

B.            Purchase decision

C.            Problem or need recognition

D.            Information seeking

E.            Evaluation of alternatives

 

25.          After deciding that she needs to finish her degree if she wants to be promoted at work, Ruby visits the websites of a few colleges near her home to see what they have to offer. Which step of the consumer buying process does this BEST describe?

A.            Postpurchase evaluation

B.            Problem or need recognition

C.            Purchase decision

D.            Evaluation of alternatives E. Information seeking

 

26.          Lifestyle and economic status are factors of which of the influences on consumer behavior?

A.            Demographic

B.            Cultural C. Personal

D. Social

E. Psychological

 

27.          Gerry decided which new car to buy based on the price of the car, its quality, and how it fits into his lifestyle. What is Gerry's purchasing decision based on?

A.            Rational motives

B.            Social influences

C.            Emotional motives

D.            Cultural influences

E.            Brand loyalty

 

28.          Dustin just had to have that convertible roadster! It is so fast, and everyone is impressed with it. When he bought it, he knew that it cost more than he wanted to spend and that it wouldn't get good gas mileage, but he decided those weren't important issues. Dustin's purchase decision was based on which of the following?

A.            Brand loyalty

B.            Cultural influences

C.            Rational motives

D.            Social influences E. Emotional motives

 

29.          Which buyers are more likely to broadcast their consumer experience?

A.            Satisfied customers

B.            Internet customers

C.            Repeat customers

D.            First-time customers E. Unsatisfied customers

 

30.          Delta Airlines, Carnival Cruises, and Club Med Resorts participate in which of the following B2B categories?

A.            Services companies market

B.            Small business market

C.            Reseller market

D.            Institutional market

E.            Industrial market

 

 

31.          A manufacturer of electronic controls used in major appliances purchases printed circuit boards, resistors, capacitors, diodes, transformers, and microprocessors to manufacture its products. Based on this information, in which organizational or commercial B2B market does this company participate?

A.            Services companies market

B.            Reseller market

C.            Governmental market

D.            Institutional market E. Industrial market

 

32. Superior Supplies sells its products to several large manufacturing companies that then use the materials in their production processes. This is an example of which type of business market?

A. Services B. Industrial

C.            Reseller

D.            Government

E.            Institutional

 

32.          Hospitals are part of which market?

A.            Reseller

B.            Government C. Institutional

D. Services

E. Industrial

 

34. Which is true of the B2B sales process?

A. The salesperson usually must educate the buyer, as they often have not researched the product. B. There is usually a long-term relationship.

C. There is rarely a signed contract.

D Most selling occurs via telephone and email.

E. They generally buy in small quantities.

 

35. Which of the following are examples of the services companies market? A. Nursery schools and veterinary clinics

B.            Wholesalers and retailers

C.            Museums and churches

D.            Local and state governments

E.            Farmers and manufacturers

 

36. Small businesses may have an advantage over larger competitors in which of the following areas?

A.            Price

B.            Distribution

C.            Number of products

D.            Purchasing power

E.            Promotion

 

37. Which of the following factors is particularly critical for the success of new service businesses?

A.            Promotion

B.            Products

C.            Pricing

D.            Psychographics E. Location

 

 

38. Which is NOT a reason that many small businesses are not successful? A. They are unable to quickly address customer needs

B.            Pricing is haphazard

C.            Products go to market quickly

D.            Few customers want or need the product

E.            They don't plan for promotional expenses

 

39. What is usually the cause of pricing errors in small businesses?

A.            Owners price too high

B.            Too much put aside for shipping and storage

C.            Failure to estimate operating expenses accurately

D.            Failure to estimate realistic market potential

E.            Computer errors

 

40. A small business grocery store in a rural town has employed local farmers and growers to work in its produce and meat departments. Which of the following BEST explains why this was a good hiring and distribution choice for the small business?

A.            The business can get local products for a fraction of the cost.

B.            The business gave steady employment to people with unsteady jobs.

C.            The business will have an edge over its larger competitors.

D.            The business can reduce its prices on produce for its local customers.

E.            The business can provide a personal yet professional touch for its customers.

 

41. Which of the following would be the LEAST effective marketing plan for a small business?

A.            An ad in a local newspaper

B.            An ad on a television station C. An ad in a magazine

D. A website

E. Online messaging

 

 

 

 

 

 

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