MAR4832- EXAM #3 QUESTIONS AND VERIFIED
ANSWERS
Which is NOT a way Innovation creates efficiency?
a. Reducing consumer opinion to stay focused
b. Adds technology
c. Allows for the relevant full or partial integration
d. Finds new users or markets for the products sold - Answers - a. Reducing consumer
opinion to stay focused
Which of the following is NOT a way innovation contributes to customers or society?
a. Satisfies customer needs
b. Creates wealth to help it develop more products for society
c. Contributes to economic growth
d. Innovation tends to lower earning power by shifting jobs to areas that pay less -
Answers - d. Innovation tends to lower earning power by shifting jobs to areas that pay
less
Which of the following is NOT a way companies add value to society outside
innovation?
a. By donating time and funds back to community
b. Practicing social responsibility
c. Focusing on internal issues and being less transparent
d. Teaming up with a special interest group to advance their mission - Answers - c.
Focusing on internal issues and being less transparent
Innovation has played a key part in increasing life expectancy of humans over the past
200 years.
True or False - Answers - True
Which of the following is NOT a way social media adds value to society?
a. Allows companies to market their products
b. Avoids customer negative comments by stating the truth behind their lies
c. Allows for firms to do marketing research
d. allows for collaboration between customers and the company - Answers - b. Avoids
customer negative comments by stating the truth behind their lies
Innovations tend to build on each other to add value to society.
, True or False - Answers - True
Having a presence at major industry events is not important
True or False - Answers - False
Thanking someone is a type of Extrinsic Quality.
True or False - Answers - False
Which is NOT driving the need for greater CSR?
a. Focusing less on employee interests and more on profits
b. Reduced government legislation
c. Greater interest on the part of consumers over what the firm is doing
d. Pressure by investors - Answers - a. Focusing less on employee interests and more
on profits
Trading a car battery when buying a new one is an example of reverse logistics.
True or False - Answers - True
Which is NOT a form of marketing intelligence?
a. surveys
b. census information
c. Phone interviews
d. ethnographic research - Answers - b. census information
A perceptual map helps firms to see where consumers feel their company is in relation
to each other.
True or False - Answers - True
Intuition is the ability to think in a calculated manner.
True or False - Answers - False
You ask me to buy a laptop i own. You ask for a ballpark price, and i say it'll cost $100,
but i must check with my parents first, so its not a set price. You agree and when i get
back to you, i say its $200; you tell me you thought it was $100. This is an example of
confirmation bias.
True or False - Answers - False
ANSWERS
Which is NOT a way Innovation creates efficiency?
a. Reducing consumer opinion to stay focused
b. Adds technology
c. Allows for the relevant full or partial integration
d. Finds new users or markets for the products sold - Answers - a. Reducing consumer
opinion to stay focused
Which of the following is NOT a way innovation contributes to customers or society?
a. Satisfies customer needs
b. Creates wealth to help it develop more products for society
c. Contributes to economic growth
d. Innovation tends to lower earning power by shifting jobs to areas that pay less -
Answers - d. Innovation tends to lower earning power by shifting jobs to areas that pay
less
Which of the following is NOT a way companies add value to society outside
innovation?
a. By donating time and funds back to community
b. Practicing social responsibility
c. Focusing on internal issues and being less transparent
d. Teaming up with a special interest group to advance their mission - Answers - c.
Focusing on internal issues and being less transparent
Innovation has played a key part in increasing life expectancy of humans over the past
200 years.
True or False - Answers - True
Which of the following is NOT a way social media adds value to society?
a. Allows companies to market their products
b. Avoids customer negative comments by stating the truth behind their lies
c. Allows for firms to do marketing research
d. allows for collaboration between customers and the company - Answers - b. Avoids
customer negative comments by stating the truth behind their lies
Innovations tend to build on each other to add value to society.
, True or False - Answers - True
Having a presence at major industry events is not important
True or False - Answers - False
Thanking someone is a type of Extrinsic Quality.
True or False - Answers - False
Which is NOT driving the need for greater CSR?
a. Focusing less on employee interests and more on profits
b. Reduced government legislation
c. Greater interest on the part of consumers over what the firm is doing
d. Pressure by investors - Answers - a. Focusing less on employee interests and more
on profits
Trading a car battery when buying a new one is an example of reverse logistics.
True or False - Answers - True
Which is NOT a form of marketing intelligence?
a. surveys
b. census information
c. Phone interviews
d. ethnographic research - Answers - b. census information
A perceptual map helps firms to see where consumers feel their company is in relation
to each other.
True or False - Answers - True
Intuition is the ability to think in a calculated manner.
True or False - Answers - False
You ask me to buy a laptop i own. You ask for a ballpark price, and i say it'll cost $100,
but i must check with my parents first, so its not a set price. You agree and when i get
back to you, i say its $200; you tell me you thought it was $100. This is an example of
confirmation bias.
True or False - Answers - False
