MKT-315 TOPIC 3 AND 6 QUIZ..QUESTIONS AND ANSWERS

MKT-315 TOPIC 3 QUIZ 1. By the offended look on the foreign company representative’s face, it was obvious that Alex had ignored the of that country. Cultural exclusives 2. Some of the reasons that make people decide what to buy are: Personal, situational, psychological, and social interactions 3. The purchases that involve the reordering of goods or services already under contract is: Straight buy 4. The United States decides to restrict annual imports of paper products. This is called . A quota 5. Foreign visitors must conform to so that they are acceptable to their hosts. Cultural imperatives 6. Since Albert wants to market a different product mix at some locations, he should employ a strategy. Multidomestic marketing 7. Dynamic Fasteners, an American company, wants to ensure that it can effectively market its fastener product in Malaysia. Therefore, Dynamic Fasteners should complete a that compares each nation’s culture. Cross-cultural analysis 8. What are the factors that influence human behavior? Economic factor, Psychology factor, Demographic factor 9. are universal beliefs that affect the actions and behaviors of a particular culture. Cultural values 10. When attending a business meeting in China, everyone bows as they meet one another. This is an example of the of that country. Customs 11. It is beneficial to utilize in order to gain marketing opportunities across product categories. 12. The factors that include demographics, culture, and subcultures are known as: Sociocultural factors 13. A process by which consumers choose to remember or reject and forget the information proffered is known as: Selective retention 14. Who is affected by the individual consumer tolerance of risk? Purchase decision 15. Whenever Sam Jones travels overseas, there are that he chooses to follow. Cultural electives Topic 4 quiz (midterm) MKT-315 Topic 5 Quiz 1. The point with the largest vertical distance between the total revenue and total costs represents the point at which: Production is optimized and profitability peal 2. The most difficult part of marketing mix is: Pricing 3. Self-actualization is NOT: Buying Mercedes but is purchasing for self-fulfillment, learning a new language , acting for the higher good 4. represent where the total revenue and total cost are equal. Break-even analysis 5. The ROI equation does not: Include customer service values but does include Measure the profit or loss generated from the product, Relate to the costs associated with that product and Concern operating income divided by the segment’s average total assets. 6. The Robinson-Patman Act: Was enacted to prevent unfair pricing practices favoring larger retail establishments over smaller mom-and-pop stores and Permits some forms of price discrimination. 7. An income gained from business activities, this term means the gross (before taxes, expenses, etc.): Revenue 8. Milton Friedman’s famous maxim, paraphrased: The social responsibility of business is to: Make a profit 9. must be established with added value, or what is above and beyond what is expected. Positioning 10. Because of , businesses are forced to be competitive: Both internet and E-commerce MKT-315 Topic 6 Quiz 1. conflict can occur when management at Eat and Run Restaurants disagree about specific discount rates for high school students. Horizontal 2. An exclusive distribution strategy . Promote a brand’s image 3. Considering an economic system, converting products made by producers into varieties sought by consumers is the role of . Marketing intermediaries 4. Indirect distribution is an example of . Producer to wholesaler to retailer to end-consumer 5. Priceless Creations provides its products exclusively to Craftys, a chain of pottery painting stores across the country. The chain then makes its pottery and painting supplies available to end-consumers. This is an example of . An indirect marketing channel 6. An intensive distribution strategy would be best implemented for these products. Soft Drinks 7. A "supply chain" is thought of as limited because it . Implies that planning commence with raw materials and factory capacity 8. Adding new channels in a multichannel distribution system provides the following advantage. It expands market and slave coverage 9. When service producers bypass intermediaries and market directly to final buyers, or when new channel intermediaries replace traditional ones, occurs. 10. Instead of offering their products through "brick-and-mortar" companies, a book distributor decides to market directly to customers through the U.S. mail. This is an example of . Disintermediation 11. A direct marketing channel would be utilized by which of these companies? 12. What type of marketing channel would Secure Insurance use if it offers its products exclusively through door-to-door salespersons? Direct 13. When an organization changes its distribution channels, it is true that . 14. When a company arranges two or more marketing channels to target one or more customer segments, it is called a(n) system. Multichannel distribution 15. When Juicy Chicken decides to promote grilled chicken instead of traditional fried chicken, Juicy Chicken experiences conflict. Vertical