MKT 571 Complete Week 1 NEW

Question 1

MKT 571 Complete Week 1 NEW

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MKT 571 Week 1 DQ 1 NEW

Marketing Events and Supplemental Conversations

What are some of the events that caught your eye during the past week, and what are the marketing implications of those events? Discuss the strengths and the room for improvement in what you have noticed.

MKT 571 Week 1 DQ 2 NEW

My Personal Information

How responsive are you to personal questions asked on a survey? Are you more likely to answer questions if you are a customer? What incentive do you need to respond to questions from a company that is not your employer or with whom you are not a customer?

MKT 571 Week 1 DQ 3 NEW

Art or Science

How is marketing management both an art and a science? What marketing challenges and opportunities do businesses face today? What marketing challenges and opportunities does your organization face?

MKT 571 Week 1 Individual Marketing Environment Simulation and Summary

Complete the Marketing Environment Simulation and Summary in MyMarketingLab.

Save your results report from the simulation to your computer in a Word document or a .Pdf file.

Click the Assignment Files tab to submit your assignment. Your grade is based on your ability in the simulation, not on participation. You can repeat as many times as you like before you submit your results.

MKT 571 Week 1 Quiz NEW

1. What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and found articles about many of them in terms of their capabilities, strengths, and weaknesses.

Secondary data

Primary data

Licensed information

Tertiary information

2. Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science?

Marketing focuses on sales as the primary goal.

Marketing balances the need for data with that of creativity.

Marketing is about advertising.

Marketing is involved with price as the major factor.

3. Which of the following statements demonstrates behavioral loyalty towards a brand?

My friends agree Myfavorite Laundry detergent is the best.

Myfavorite Laundry detergent is so easy to use.

Myfavorite Laundry detergent smells good.

I always buy Myfavorite Laundry detergent when purchasing laundry detergent.

4. By 2015, projections indicate that the largest category of households will be composed of

childless married couples and empty nesters

married couples with children

single-parent families

singles living with nonrelatives

5. One of the most critical steps in the defining process of market research is

reading marketing research journals

defining the problem, the decision alternatives, and research objectives

analyzing the internal environment

developing a research plan

6. Which of the following is correct about marketing management?

It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.

It focuses mostly on monitoring the profitability of a company’s products and services.

It is defined as the field that deals with planning and managing a business at the highest level of corporate organization.

It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

7. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because

of stringent credit policies adopted by the Fed before the onset of recession

the consumers have a high debt-to-income ratio

of steady supply of loanable funds in the economy during recession

consumer borrowing increases during recession

8. Which of the following elements of sociocultural environment can be associated with the growing demand for social surrogates like social networking sites, television, and so on?

Views of ourselves

Views of nature

Views of others

Views of organizations

9. Wabash Bank would like to understand if there is a relationship between the advertising or promotion it does and the number of new customers the bank gets each quarter. What type of research is this an example of?

Causal

Exploratory

Secondary

Qualitative

10. Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings.

Focus

Diversification

Differentiation

Promotional

11. Which of the following industries is most likely to use database marketing?

A supermarket chain

A local restaurant

A physician’s office

A school system

12. Which market do customers who have purchased and are driving Audi automobiles represent?

Potential market

Available market

Target market

Penetrated market

13. When Apple intro

Answer 1

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