BUSI 330 Quiz 1

BUSI 330 Quiz 1 Liberty University

1. To avoid new-product failure, new-product expert Robert M. McMath suggests
2. Innovations in the textile industry have led to fabrics that help regulate body temperature, reduce wind resistance, and control muscle vibration, all of which help improve athletic performance. This shows how manufacturing can create
3. A target market refers to
4. The element of the marketing mix that describes a good, service, or idea to satisfy consumers’ needs is known as
5. Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?
6. The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and before- and after-sale service at a specific price is called
7. The place strategy in 3M’s marketing program made it convenient for to buy Post-it® Flag Highlighters and Post-it® Flag Pens.
8. An organization’s stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?
9. In Figure 1-2, “A” represents and “B” represents      .
10. According to the textbook, Starbucks provides its customers with the best
11. is the visual computer display of the essential information related to achieving a marketing objective.
12. Netflix is a company that rents DVD movies and television programming either by mail or streaming over the Internet. It faces many competitors, but continues to grow both in the United States and abroad. Netflix now has around 47 million subscribers in the United States out of 82 million worldwide. Part of what has driven success in recent years is its original content, with shows like Stranger Things and 13 Reasons Why, popular programming that cannot be seen elsewhere. Its original content provides Netflix’s
13. Strategic business units (SBUs) with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as
14. An effective summary tool for an organization’s situation analysis is referred to as
15. A business model
16. All of the following are important branded offerings that will meet IBM’s customer needs into the future except which?
17. Social entrepreneurs who start new ventures such as Teach for America and NexGenVest are usually structured as rather than business firms.
18. A new company has an objective that its sales will exceed its expenses during its first year of operation. This is an example of which type of goal?
19. In Figure 2-1, C represents the of an organization.
20. Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as
21. The Internet of Things refers to
22. Employees who report unethical or illegal actions of their employers are referred to as
23. Two former sales representatives of Amgen, a biotech company, alleged the company strongly encouraged its salesforce to search confidential medical records in dermatologist’s offices to find names of patients that would benefit Amgen’s drug Enbrel, a psoriasis treatment. After reporting this practice to the president, one rep was fired and the other resigned after receiving a poor performance review. Both sued Amgen, claiming they did not go along with the scheme because they objected to it as being unethical. The two sales representatives are
24. Which of the following currently affects baby boomers, and thus those that market to them, in a significant way?
25. Small businesses make up a large portion of the competitive landscape for most businesses. There are approximately small businesses in the United States.
26. The population explosion has occurred
27. The set of values, ideas, and attitudes that is learned and shared among the members of an organization is referred to as
28. Societal responsibility refers to
29. Dell Inc. learned that the lithium-ion batteries in its notebook computers posed a fire hazard to consumers. The company recalled 2.7 million batteries and gave consumers a replacement before any personal injuries resulted. Dell was most likely concerned with which Consumer Bill of Rights principle?
30. Generation X consumers indicate they want online customer support; websites that are comprehensive, professional, and interactive; and advertising that is authentic, family-oriented, and unique. Generation X is also replacing baby boomers as the largest segment of business travelers. In response, American Airlines is offering travelers in-flight Wi-Fi, entertainment on demand, and personal power ports. This is an example of how     forces impact the marketing environment.