MKT 571 Week 1 Quiz (A+ guaranteed)

Total 18 Questions with correct Solutions

1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as 

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differentiation

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market development 

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integrative growth

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overall cost leadership 

2. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n)

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event

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place

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service

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idea

3. 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. 

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Differentiation

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Diversification

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Promotional 

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Focus

4. A company's sales potential would be equal to market potential when which situations exists? 

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Industry marketing expenditures approach infinity for a given marketing environment.

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The company gets 100 percent share of the market.

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The marketing expenditure of the company is reduced to zero.

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The market is nonexpandable.

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

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analyzing the internal environment

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defining the problem, the decision alternatives, and research objectives

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reading marketing research journals 

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developing a research plan

6. 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.

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Licensed information 

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Secondary data

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Primary data

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Tertiary information

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

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

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the consumers have a high debt-to-income ratio

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of steady supply of loanable funds in the economy during recession

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consumer borrowing increases during recession