BUSN 319 Week 2 Quiz

This pack of BUSN 319 Week 2 Quiz includes:

(TCO 1) 3M inventor David Windorski's challenge was to design new products for college students. The first step in solving this challenge was to


(TCO 1) The first objective in marketing is to discover consumer


(TCO 6) The four Ps of the marketing mix are

(TCO 1) _____ is the money left over after a business firm's total expenses are subtracted from its total revenues.

(TCO 1) Which of the following statements about strategy is most true?


(TCO 1) Often used interchangeably with vision, a(n) _____ statement frequently has an inspirational theme.

(TCO 1) The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is called

(TCO 1) Step 2 in the planning phase of the strategic marketing process is

(TCO 1) A recent Congressional initiative mandated that the U.S. Department of Transportation (USDOT) establish a national traffic information collection system. The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as

(TCO 1) There are no magic, one-size-fits-all guidelines for writing successful marketing and business plans. Nevertheless, all of the following generally apply, except

(TCO 5) Which of the following statements about environmental scanning is true?

(TCO 5) The social forces of the environment include the demographic characteristics of the population and its _____. Changes in these forces can have a dramatic impact on marketing strategy.

(TCO 5) Generally, the U.S. population is becoming

(TCO 6) The concern for obtaining the best quality, features, and performance of a product or service for a given price is called

(TCO 5) In an inflationary economy, the cost to produce and buy products and services _____ as prices _____.

(TCO 5) Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how _____ help(s) to improve or replace existing products and companies.

(TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales.

(TCO 6) Which stage in the consumer purchase decision process suggests criteria to use for the purchase, yields brand names that might meet the criteria, and develops consumer value perceptions?

(TCO 6) Putting a dollar value on what a satisfied, loyal, repeat customer spends on a firm's products during a year or a lifetime reveals that

(TCO 6) Organizational buyers can be divided into three different markets. They are

(TCO 6) Which of the following statements accurately characterizes the organizational buying process?

(TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) ability to meet the quality specifications required for the item, (3) _____, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity.

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