St. Leo ACCOUNTING 560 Accounting Quiz Ch 1 - 4

1. Question : All of the following are rules of thumb for questionnaire design EXCEPT ________.

  Student Answer:   making questions as simple as possible

     making the questions specific

      ensuring that fixed responses overlap

     avoiding hypothetical questions

     avoiding questions with a negative in them

 2. Question : The last step in the value creation and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product.

  Student Answer:   developing

     distributing

      communicating

     reversing

     researching

 3. Question : A ________ is someone seeking a response (attention, a purchase, a vote, a donation) from another party, called the ________.

  Student Answer:   salesperson; customer

     fund-raiser; contributor

     politician; voter

      marketer; prospect

     celebrity; audience

 4. Question : Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align themselves with consumers' ________.

  Student Answer:   views of others

      views of organizations

     views of themselves

     views of the universe

     views of society

 5. Question : ________ are groups of individuals who are born during the same time period and travel through life together.

  Student Answer:    Cohorts

     Populations

     Demographics

     Societies

     Markets

 6. Question : Procurement, technology development, human resource management, and firm infrastructure are handled in certain specialized departments and are called ________.

  Student Answer:   materials handling

      support activities

     inventory activities

     primary activities

     benchmark activities

 7. Question : Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process?

  Student Answer:   reviewing all macro relationships

     reviewing global outreach projections

      redefining the business concept (the "big idea")

      reviewing successes from e-commerce (if any)

     revamping the ethics statement

 8. Question : According to the information found in the social-cultural environment, with respect to views of others, ________ are considered to be things that allow people who are alone to feel they are not (e.g., television, home video games, and Internet chat rooms).

  Student Answer:    social surrogates

     subliminal fantasies

     relationship avoidance

     primary products

     secondary products

 9. Question : The firm should estimate its competitors' costs and performances as ________ against which to compare its own costs and performance.

  Student Answer:   competition

     standards

     challenges

      benchmarks

     moveable standards

 10. Question : In the famous case where Coca-Cola introduced New Coke after much research, the failure of New Coke was largely due to a marketing research barrier identified as ________.

  Student Answer:   a narrow conception of the research

     uneven caliber of researchers

      poor framing of the problem

     late and occasional erroneous findings

     personality and presentation differences

 11. Question : Which of the following types of marketing research firms would best be described as being one that gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?

  Student Answer:   Custom marketing research firms

      Syndicated-service research firms

     Specialty-line marketing research firms

     General-line marketing research firms

     Nonprofit marketing research firms

 12. Question : Value reflects ________.

  Student Answer:   the price consumers are charged for a product

     the cost of manufacturing a product

     the degree to which consumer demand for the product is positive
      the sum of the perceived tangible and intangible benefits and costs to customers
     all of the above

 13. Question : The value of an offering is described as ________.

  Student Answer:   the price consumers are charged for a product

     the cost of manufacturing a product

     the degree to which consumer demand for a product is positive

      the sum of the tangible and intangible benefits and costs to customers
     the intangible benefits gained from a product

 14. Question : When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.

  Student Answer:   defined strategy

      focused strategy

     value-added strategy

     competitive advantage strategy

     customer-focused strategy

 15. Question : A social definition of marketing says ________.

  Student Answer:   effective marketing requires companies to remove intermediary parties to achieve a closer connection with direct consumers
     a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products
      marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
     marketing is the process of extracting maximal value from consumers to facilitate corporate growth
     marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer

 16. Question : The firm's success depends both on how well each department performs its work, and on how well the various departmental activities are coordinated to conduct ________.

  Student Answer:   core strategies

     satellite businesses

     core values

      core business processes

     core technologies

 17. Question : A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.

  Student Answer:   sales-force surrogates

     intermediaries

      external networks

     advisory panels

     customer feedback systems

 18. Question : Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

  Student Answer:   demographic segments

     cliques

     consumer bundles

      subcultures

     behavioral niches

 19. Question : Time-series analysis, exponential smoothing, and statistical demand analysis are all forms of ________.

  Student Answer:   expert opinion

     market-test methods

     buyer intention surveys

      past-sales analysis

     none of the above

 20. Question : Several scholars have found that companies who embrace the marketing concept achieve superior performance. This was first demonstrated for companies practicing a ________-understanding and meeting customers' expressed needs.

  Student Answer:    reactive market orientation

     proactive marketing orientation

     total market orientation

     impulsive market orientation

     holistic market orientation