Exam 1

Question 1

What word refers to wants backed by buying power? (wk1)

Answer 1

Demand

Question 2

Which element does not belong in Maslow’s Hierarchy of Needs?

Answer 2

Art

Question 3

What is true regarding customer lifetime value? (wk1)

Answer 3

• It is cheaper to keep an old customer than acquire a new one

Question 4

What is not one of the 4 elements of the marketing mix?

Answer 4

People

Question 5

Which element of the marketing mix refers to how an offering will be made
available to target customers?

Answer 5

Place

Question 6

The collection of businesses and products that make up a company

Answer 6

Company Portfolio

Question 7

Selling new products to existing markets

Answer 7

Product development

Question 8

Adding new products to new markets.

Answer 8

Diversification

Question 9

When a company must prune or divest businesses that are unprofitable or no longer fit the strategy

Answer 9

Downsizing

Question 10

What does the W stand for in SWOT analyses?

Answer 10

Weakness

Question 11

Not an example of Micro-Environment

Answer 11

Economics

Question 12

An example of Macro-Environment |

Answer 12

Demographics

Question 13

Study of human population

Answer 13

Demographics

Question 14

What does B2G stand for?

Answer 14

Business-to-government

Question 15

Which of the following is not a source of marketing information?

Answer 15

Product roadmap

Question 16

Which of the following has the shortest sales cycle?

Answer 16

B2C

Question 17

What do we call groups who adopt products after it’s become something of a
tradition itself?

Answer 17

Lagging adopters

Question 18

What is an influence on consumer behavior

Answer 18

• All of the above (Family, Occupation, Belief)

Question 19

What is true about customer advocacy?

Answer 19

The most satisfied customers proactively recommend the company to potential customers

Question 20

What makes B2B selling complex?

Answer 20

Larger buyers

Question 21

What is not a trend in wholesaling?

Answer 21

Changing products

Question 22

Targets the whole market with one offer.

Answer 22

Undifferentiated marketing

Question 23

The full mix of benefits upon which a brand is positioned

Answer 23

Value Proposition

Question 24

Visual for consumer perceptions of marketer’s brands versus competing
products on important buying dimensions. |

Answer 24

Positioning Map

Question 25

Producers, wholesalers, and retailers as a unified system.

Answer 25

Vertical marketing system

Question 26

Integrates in-store, online, and mobile shopping

Answer 26

Omni-Channel Retailing

Question 27

Which is not a product/service attribute?

Answer 27

Audience

Question 28

Consumer does not know about or knows about but does not normally think of
buying. |

Answer 28

Unsought Products

Question 29

Which is not an example of a fixed cost |

Answer 29

Raw materials

Question 30

Cost advantages companies experience when production becomes efficient

Answer 30

Economics of scale

Question 31

Which is not an element of the promotion mix?

Answer 31

Incentive promotion

Question 32

Which is an example of Sales Promotion?

Answer 32

Discounts

Question 33

What does AIDA stand for?

Answer 33

Attention interest desire action

Question 34

Which is not a step in the Marketing Communication framework?

Answer 34

Pull marketing

Question 35

When are initial discussions posted due?

Answer 35

Tuesday before class

Question 36

Is the midterm and final cumulative?

Answer 36

Yes