BUS 2201 Principles of Marketing - Final
Review Questions With All Correct & Verified
Answers
Which element of the marketing mix would include advertising and
sales? Correct answer-promotion
Lucy lists the positive factors associated with her company, such as sales growth, world class
distribution, and industry recognition for product quality. She is listing the company's _____.
Correct answer-strengths
_____ combines the lifestyle traits of consumers and their personality
styles with an analysis of their attitudes, activities, and values to
determine groups of consumers with similar characteristics . Correct answer-Psychographics
A fashion design house purchased a music company. This is an example
of a _____ strategy. Correct answer-diversification
A _____ strategy involves offering products that are unrelated to other
existing products produced by the organization . Correct answer-diversification
_____ occurs when a small change in demand by consumers has a big
effect through the chain of businesses that supply all of the goods and services that produce it.
Correct answer-Fluctuating demand
A scan of the _____ should include any new government regulations as
well as legislation. Correct answer-political climate
What is the correct order of strategic development for today's
marketing organizations? Correct answer-the mission statement, the corporate strategy,
and the marketing plan
An individual's disposition as other people see it is known as _____. Correct answer-personality
Michael Porter's five forces model includes all of the following EXCEPT: Correct answer-threat of
supplier penetration development.
_____ are groups of people within organizations who make purchasing
decisions . Correct answer-Buying centers
An example of a primary data resource is: Correct answer-an in-depth interview
Threats include Correct answer-external negative conditions of the macroenvironment.
Characteristics of secondary research include Correct answer-the data is collected for another
purpose.
The personal value equation of the customer is reflected in the formula: Correct answer-Value =
Benefits received − [Price + Hassle]
, When the Elliott Corporation decides to exhibit its products in an
industry trade show,it is performing which marketing activity Correct answer-communicating
offerings
The business market is characterized as having Correct answer-longer decision cycles.
Neuroticism refers to Correct answer-how prone you are to negative mental states.
_____ seeks to measure or describe phenomenon so as to answer the
questions who, what, where, when and how. Correct answer-Descriptive research
Purchasing a product with no planning or forethought is called _____. Correct answer-impulse
buying
A _____ is a two-dimensional graph that visually shows where a product
stands relative to competitors. Correct answer-perceptual map
A group of related offerings is known as a _____. Correct answer-product line
_____ refers to the possibility that the company will fail to earn the
appropriate return on the money and effort it puts into the new
product. Correct answer-Investment risk
Mobile marketing Correct answer-utilizes cell phones and forms of transportation.
Firms offering more technical or expensive products often utilize _____. Correct answer-personal
selling
Delivering what is promised, when it was promised, and the way it was
promised are key drivers of _____. Correct answer-customer satisfaction
Selling the same product to all consumers is known as _____. Correct answer-mass marketing
Consumers often care about brand names when they are deciding on
_____. Correct answer-shopping offerings
Telemarketing is an example of Correct answer-direct marketing.
Cutting middlemen out of the channel is known as Correct answer-disintermediation.
The most risky global entry strategy is known as _____. Correct answer-direct foreign investment
Most consumer products are in the _____ stage of their life cycle. Correct answer-maturity
All of the people and organizations that buy, resell, and promote a
product "downstream" as it makes it to the end user is referred to as
the _____. Correct answer-distribution channel
Customers who are good at generating new product ideas or
applications of products are called _____. Correct answer-lead users
Review Questions With All Correct & Verified
Answers
Which element of the marketing mix would include advertising and
sales? Correct answer-promotion
Lucy lists the positive factors associated with her company, such as sales growth, world class
distribution, and industry recognition for product quality. She is listing the company's _____.
Correct answer-strengths
_____ combines the lifestyle traits of consumers and their personality
styles with an analysis of their attitudes, activities, and values to
determine groups of consumers with similar characteristics . Correct answer-Psychographics
A fashion design house purchased a music company. This is an example
of a _____ strategy. Correct answer-diversification
A _____ strategy involves offering products that are unrelated to other
existing products produced by the organization . Correct answer-diversification
_____ occurs when a small change in demand by consumers has a big
effect through the chain of businesses that supply all of the goods and services that produce it.
Correct answer-Fluctuating demand
A scan of the _____ should include any new government regulations as
well as legislation. Correct answer-political climate
What is the correct order of strategic development for today's
marketing organizations? Correct answer-the mission statement, the corporate strategy,
and the marketing plan
An individual's disposition as other people see it is known as _____. Correct answer-personality
Michael Porter's five forces model includes all of the following EXCEPT: Correct answer-threat of
supplier penetration development.
_____ are groups of people within organizations who make purchasing
decisions . Correct answer-Buying centers
An example of a primary data resource is: Correct answer-an in-depth interview
Threats include Correct answer-external negative conditions of the macroenvironment.
Characteristics of secondary research include Correct answer-the data is collected for another
purpose.
The personal value equation of the customer is reflected in the formula: Correct answer-Value =
Benefits received − [Price + Hassle]
, When the Elliott Corporation decides to exhibit its products in an
industry trade show,it is performing which marketing activity Correct answer-communicating
offerings
The business market is characterized as having Correct answer-longer decision cycles.
Neuroticism refers to Correct answer-how prone you are to negative mental states.
_____ seeks to measure or describe phenomenon so as to answer the
questions who, what, where, when and how. Correct answer-Descriptive research
Purchasing a product with no planning or forethought is called _____. Correct answer-impulse
buying
A _____ is a two-dimensional graph that visually shows where a product
stands relative to competitors. Correct answer-perceptual map
A group of related offerings is known as a _____. Correct answer-product line
_____ refers to the possibility that the company will fail to earn the
appropriate return on the money and effort it puts into the new
product. Correct answer-Investment risk
Mobile marketing Correct answer-utilizes cell phones and forms of transportation.
Firms offering more technical or expensive products often utilize _____. Correct answer-personal
selling
Delivering what is promised, when it was promised, and the way it was
promised are key drivers of _____. Correct answer-customer satisfaction
Selling the same product to all consumers is known as _____. Correct answer-mass marketing
Consumers often care about brand names when they are deciding on
_____. Correct answer-shopping offerings
Telemarketing is an example of Correct answer-direct marketing.
Cutting middlemen out of the channel is known as Correct answer-disintermediation.
The most risky global entry strategy is known as _____. Correct answer-direct foreign investment
Most consumer products are in the _____ stage of their life cycle. Correct answer-maturity
All of the people and organizations that buy, resell, and promote a
product "downstream" as it makes it to the end user is referred to as
the _____. Correct answer-distribution channel
Customers who are good at generating new product ideas or
applications of products are called _____. Correct answer-lead users
