BUS2-130 Exam 1 Questions and Answers Latest Update 2025
After World War I and the Great Depression, consumers purchased far less. To address
overproduction, companies relied on advertising and personal selling. This was the - Answers
sales-oriented era
In the ________ era, manufacturers focused on product innovation, rather than satisfying the
needs of individual customers. - Answers production-oriented
Which of the following is one of the core practices among value-oriented marketers? - Answers
constantly measuring the benefits that customers receive against the costs of offerings
Rather than being just a random activity, good marketing requires ________ in determining
appropriate actions to produce sound decisions. - Answers thoughtful planning
The ________ consists of the product, price, place, and promotion of an offering. - Answers
marketing mix
According to your text, which of the following can be said regarding the use of social media in
advertising? - Answers Only about 30 percent of the world's population uses Facebook—which
means 70 percent still has not signed up.
The ________ addresses how a product will be designed, how much it should cost, how it will be
promoted, and how it will get to consumers. - Answers marketing plan
Understanding consumers' ________ is fundamental to marketing success. - Answers needs and
wants
A group that sponsors poster contests for children to promote bicycle safety is providing which
of the following marketing offerings? - Answers ideas
A business philosophy and set of strategies, programs, and systems that focus on identifying
and building loyalty among the firm's most valued customers is known as - Answers customer
relationship management.
When an optical center provides eye exams and new contact lenses as its offering, it is an
example of which the following combinations? - Answers goods and services
Amazon collects massive amounts of data about how, when, why, where, and what people buy,
and then analyzes those data to better serve its customers. This activity refers to - Answers
marketing analytics.
Which marketing mix element deals specifically with retailing and marketing channel
management? - Answers place
During the last couple of decades, it has become important for value-oriented marketers to
________ with customers. - Answers move toward a relational orientation from a transactional
, perspective
Redbox uses the ________ element of the marketing mix to make movie rentals available for
customers when and where they need them. - Answers place
The ________ era embraced the belief that a good product would sell itself. - Answers production
-oriented
Smithward. Inc. manufactures reusable water bottles. It targets its marketing campaigns at
different market ________, including outdoor enthusiasts, health-conscious buyers, and young
people who want the current fashion accessory. - Answers segments
Which of the marketing mix elements corresponds to what the buyer gives up in the marketing
exchange? - Answers price
The goal of a marketing exchange is that the parties to the transaction be - Answers satisfied.
A national hotel chain engages in conversations with its customers through Facebook and even
allows them to book their hotel reservations through its Facebook page. This is an example of
marketing using - Answers social media.
Which of the following elements of the marketing mix is involved when marketers make their
offering available when and where the customer wants it? - Answers place
Companies must deliver more value and satisfaction to target consumers than their
competitors to gain a - Answers competitive advantage.
What two metrics are used in the BCG portfolio analysis to evaluate the various products of a
firm? - Answers relative market share and market growth rate
Hyatt recognizes that there are different groups of travelers with different needs, wants, and
characteristics in their choice of lodging. The process of dividing Hyatt's market into these
various groups is - Answers market segmentation.
According to the BCG matrix, which type of product typically has excess resources, which can
be used to support other products that need additional resources? - Answers cash cows
Honda marketed its CR-Z hybrid model to a distinct segment of consumers as a fun, green,
sporty hybrid that stands out as being uniquely different from other hybrid models. This is an
example of which of the following? - Answers market positioning
When a firm considers its overall objectives and considers the type of business it is in, it is
engaged in which of the following steps of the marketing planning process? - Answers defining
the mission
Which of the following is one of the four major growth strategies marketers typically utilize? -
Answers product development
After World War I and the Great Depression, consumers purchased far less. To address
overproduction, companies relied on advertising and personal selling. This was the - Answers
sales-oriented era
In the ________ era, manufacturers focused on product innovation, rather than satisfying the
needs of individual customers. - Answers production-oriented
Which of the following is one of the core practices among value-oriented marketers? - Answers
constantly measuring the benefits that customers receive against the costs of offerings
Rather than being just a random activity, good marketing requires ________ in determining
appropriate actions to produce sound decisions. - Answers thoughtful planning
The ________ consists of the product, price, place, and promotion of an offering. - Answers
marketing mix
According to your text, which of the following can be said regarding the use of social media in
advertising? - Answers Only about 30 percent of the world's population uses Facebook—which
means 70 percent still has not signed up.
The ________ addresses how a product will be designed, how much it should cost, how it will be
promoted, and how it will get to consumers. - Answers marketing plan
Understanding consumers' ________ is fundamental to marketing success. - Answers needs and
wants
A group that sponsors poster contests for children to promote bicycle safety is providing which
of the following marketing offerings? - Answers ideas
A business philosophy and set of strategies, programs, and systems that focus on identifying
and building loyalty among the firm's most valued customers is known as - Answers customer
relationship management.
When an optical center provides eye exams and new contact lenses as its offering, it is an
example of which the following combinations? - Answers goods and services
Amazon collects massive amounts of data about how, when, why, where, and what people buy,
and then analyzes those data to better serve its customers. This activity refers to - Answers
marketing analytics.
Which marketing mix element deals specifically with retailing and marketing channel
management? - Answers place
During the last couple of decades, it has become important for value-oriented marketers to
________ with customers. - Answers move toward a relational orientation from a transactional
, perspective
Redbox uses the ________ element of the marketing mix to make movie rentals available for
customers when and where they need them. - Answers place
The ________ era embraced the belief that a good product would sell itself. - Answers production
-oriented
Smithward. Inc. manufactures reusable water bottles. It targets its marketing campaigns at
different market ________, including outdoor enthusiasts, health-conscious buyers, and young
people who want the current fashion accessory. - Answers segments
Which of the marketing mix elements corresponds to what the buyer gives up in the marketing
exchange? - Answers price
The goal of a marketing exchange is that the parties to the transaction be - Answers satisfied.
A national hotel chain engages in conversations with its customers through Facebook and even
allows them to book their hotel reservations through its Facebook page. This is an example of
marketing using - Answers social media.
Which of the following elements of the marketing mix is involved when marketers make their
offering available when and where the customer wants it? - Answers place
Companies must deliver more value and satisfaction to target consumers than their
competitors to gain a - Answers competitive advantage.
What two metrics are used in the BCG portfolio analysis to evaluate the various products of a
firm? - Answers relative market share and market growth rate
Hyatt recognizes that there are different groups of travelers with different needs, wants, and
characteristics in their choice of lodging. The process of dividing Hyatt's market into these
various groups is - Answers market segmentation.
According to the BCG matrix, which type of product typically has excess resources, which can
be used to support other products that need additional resources? - Answers cash cows
Honda marketed its CR-Z hybrid model to a distinct segment of consumers as a fun, green,
sporty hybrid that stands out as being uniquely different from other hybrid models. This is an
example of which of the following? - Answers market positioning
When a firm considers its overall objectives and considers the type of business it is in, it is
engaged in which of the following steps of the marketing planning process? - Answers defining
the mission
Which of the following is one of the four major growth strategies marketers typically utilize? -
Answers product development
