BADM 320 EXAM 1 QUESTIONS &
ANSWERS(RATED A+)
what are the 4 p's of marketing otherwise known as a marketing mix? -
ANSWERproduct, price, place, promotion
if you sell your old Nintendo video games to someone on eBay or another online sale
website, you are taking part in what type of marketing? - ANSWERC2C marketing -
consumer to consumer marketing
T or F: giving customers incredible customer service will always lead to more sales and
profits - ANSWERfalse
The University of Illinis offers an incredible education, a way fir young people to get
ahead in the world, a fun environment for learning and a way for people to prepare for
the working world. this is an example of what? - ANSWERThe U of I'd Value
Proopostions
"pure Michigan" is the marketing slogan used by the state to inspire people to visit MI
not heir vacation. this would be an example of which general type of marketing? -
ANSWERplace marketing
when politicians develop advertisements and campaigns, they re trying ti get voters to
like theme and vote for them. which woful be the best type of marketing that they should
use.? - ANSWERperson marketing
why do people buy things? - ANSWERthey have a problem and they see your product
as an opportunity for growth
when coca-cola develops multiple flavors of soda, develops different and and bottle
design for fir the different soda drinking situations, and they develop the coca-cola
brand, they re focusing on chic of the 4 p's of marketing? - ANSWERproduct
When a firm organizes their store to better serve their customers, and make it easier for
their customers to shop and find products in the store, they are adding value in which
part of the 4 Ps of marketing? - ANSWERplace
If a product fails, because potential customers never hear about the product. Where
would the most likely issue be within the 4 Ps of marketing? - ANSWERpromotion
When firms divide up their customer base, it is called what? - ANSWERsegemntation
, When a firm only focuses on the product and developing the best product possible in
the firm's opinion without considering what the end customer want, what is the main
issue that the firm might have? - ANSWERmarketing myopia
Why do marketers fail? - ANSWERall the above:
-Underestimating the competition
-Not doing enough research on the market
-Have the incorrect pricing model
Which sustainable competitive advantage focuses on creating long term value for the
customers so they return again and again to your business? - ANSWERcustomer
excellence
When Starbucks buys up as many retail locations as they can in downtown Chicago to
make sure that all the workers have easy access to Starbucks Coffee, Starbucks is
going for what type of Sustainable Competitive Advantage? - ANSWERlocation
excellence
The GIES College of Business has a strong Human Resources department that helps
faculty grow into better researchers and better educators. Gies also have a top notch
management team whose head was named Dean of the Year. Looking at this which
type of sustainable competitive advantage is The Gies College of Business going for? -
ANSWERoperational excellence
Which is a bonus of having long term loyal customers? - ANSWERall the above:
-They tend to purchase more products and services
-They are willing to pay more for what they want from the firm
-They know how the firm works and require less time and energy answering questions
Traditionally the University of linois would only receive tuition from students, however
over time the university added university housing for students, a university book store
where students could buy their textbooks, they also started selling University of Illinois
clothing to students as well. In this situation the University of Illinois is trying to do what?
- ANSWERIncrease their share of a student's wallet
Delta Airlines knows that college students do not fly a lot of times per year, and that
college students do not show much loyalty to airlines. However, Delta does know that
students are willing to spend a lot of money on flights for Spring Break. In this sense,
when it comes to Delta Airline's relationship with college students, Delta would see
College Students as part of which customer relationship group? - ANSWERbutterflies
Harvard University is one of the most popular and well known universities in the world.
You can see people wearing Harvard University sweatshirts in every country, even if
none of them actually went to Harvard for school. In terms fo the customer relationship
groups, how would Harvard University label the people that buy a Harvard University
ANSWERS(RATED A+)
what are the 4 p's of marketing otherwise known as a marketing mix? -
ANSWERproduct, price, place, promotion
if you sell your old Nintendo video games to someone on eBay or another online sale
website, you are taking part in what type of marketing? - ANSWERC2C marketing -
consumer to consumer marketing
T or F: giving customers incredible customer service will always lead to more sales and
profits - ANSWERfalse
The University of Illinis offers an incredible education, a way fir young people to get
ahead in the world, a fun environment for learning and a way for people to prepare for
the working world. this is an example of what? - ANSWERThe U of I'd Value
Proopostions
"pure Michigan" is the marketing slogan used by the state to inspire people to visit MI
not heir vacation. this would be an example of which general type of marketing? -
ANSWERplace marketing
when politicians develop advertisements and campaigns, they re trying ti get voters to
like theme and vote for them. which woful be the best type of marketing that they should
use.? - ANSWERperson marketing
why do people buy things? - ANSWERthey have a problem and they see your product
as an opportunity for growth
when coca-cola develops multiple flavors of soda, develops different and and bottle
design for fir the different soda drinking situations, and they develop the coca-cola
brand, they re focusing on chic of the 4 p's of marketing? - ANSWERproduct
When a firm organizes their store to better serve their customers, and make it easier for
their customers to shop and find products in the store, they are adding value in which
part of the 4 Ps of marketing? - ANSWERplace
If a product fails, because potential customers never hear about the product. Where
would the most likely issue be within the 4 Ps of marketing? - ANSWERpromotion
When firms divide up their customer base, it is called what? - ANSWERsegemntation
, When a firm only focuses on the product and developing the best product possible in
the firm's opinion without considering what the end customer want, what is the main
issue that the firm might have? - ANSWERmarketing myopia
Why do marketers fail? - ANSWERall the above:
-Underestimating the competition
-Not doing enough research on the market
-Have the incorrect pricing model
Which sustainable competitive advantage focuses on creating long term value for the
customers so they return again and again to your business? - ANSWERcustomer
excellence
When Starbucks buys up as many retail locations as they can in downtown Chicago to
make sure that all the workers have easy access to Starbucks Coffee, Starbucks is
going for what type of Sustainable Competitive Advantage? - ANSWERlocation
excellence
The GIES College of Business has a strong Human Resources department that helps
faculty grow into better researchers and better educators. Gies also have a top notch
management team whose head was named Dean of the Year. Looking at this which
type of sustainable competitive advantage is The Gies College of Business going for? -
ANSWERoperational excellence
Which is a bonus of having long term loyal customers? - ANSWERall the above:
-They tend to purchase more products and services
-They are willing to pay more for what they want from the firm
-They know how the firm works and require less time and energy answering questions
Traditionally the University of linois would only receive tuition from students, however
over time the university added university housing for students, a university book store
where students could buy their textbooks, they also started selling University of Illinois
clothing to students as well. In this situation the University of Illinois is trying to do what?
- ANSWERIncrease their share of a student's wallet
Delta Airlines knows that college students do not fly a lot of times per year, and that
college students do not show much loyalty to airlines. However, Delta does know that
students are willing to spend a lot of money on flights for Spring Break. In this sense,
when it comes to Delta Airline's relationship with college students, Delta would see
College Students as part of which customer relationship group? - ANSWERbutterflies
Harvard University is one of the most popular and well known universities in the world.
You can see people wearing Harvard University sweatshirts in every country, even if
none of them actually went to Harvard for school. In terms fo the customer relationship
groups, how would Harvard University label the people that buy a Harvard University
