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BUS 508 Week 7 Chapter 11 Practice Quiz

BUS 508 Week 7 Chapter 11 Practice Quiz

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BUS 508 Week 7 Chapter 11 Practice Quiz -

Question 1

A marketing plan is not a key component of a firm’s overall business plan.

Answer

  • True
  • False

 

Question 2

________ are activities and technologies for gathering, storing, and analyzing data to make better competitive decisions.

Answer

  • Marketing research
  • Business intelligence
  • Data mining
  • Data warehouse

 

Question 3

________ is part of the broader field of business intelligence, is the task of using computer-based technology to evaluate data in a database and identify useful trends.

Answer

  • Data mining
  • Data warehouses
  • Market segmentation
  • Consumer markets

 

Question 4

Age is perhaps the most volatile factor in demographic segmentation in the United States, with our rapidly aging population.

Answer

  • True
  • False

 

Question 5

________ is dividing consumer markets into groups with similar attitudes, values, and lifestyles.

Answer

  • Psychographic segmentation
  • Market segmentation
  • Geographical segmentation
  • Demographic segmentation

 

Question 6

To solve the problem or take advantage of the opportunity, the consumer does not seek information alternatives, such as available brands.

Answer

  • True
  • False

 

Question 7

________ power of a good or service to satisfy a want or need.

Answer

  • Time
  • Place
  • Ownership
  • Utility

 

Question 8

Good relationship with customers can be vital strategic weapons for a firm.

Answer

  • True
  • False

 

Question 9

An organization’s ________ is the group of potential customers toward whom it directs its marketing efforts.

Answer

  • Consumer products
  • Business products
  • Target market
  • Marketing mix

 

Question 10

________ are actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that precede and follow these actions.

Answer

  • Business behavior
  • Production behavior
  • Interpersonal determinants
  • Consumer behavior

 

Question 11

 Organizations didn’t fully recognize the importance of their customers until the marketing era of the 1950s, when they began to adopt a consumer orientation.

Answer

  • True
  • False

 

Question 12

 Not-for-profit organizations do not operate in both public and private sectors.

Answer

  • True
  • False

 

Question 13

________ can be divided through geographical segmentation, demographic, or customer-based, segmentation, and end-use segmentation.

Answer

  • Open markets
  • Business markets
  • Closed markets
  • Developing markets

 

Question 14

The final category of nontraditional marketing, ________, influences consumers to accept the goals of, receive the services of, or contribute in some way to an organization.

Answer

  • Personal marketing
  • Place marketing
  • Organization marketing
  • Cause marketing

 

Question 15

________ is dividing markets on the basis of various demographic or socioeconomic characteristics such as gender, age, income, occupation, household size, stage in family life cycle, education, or ethic group.

Answer

  • Geographical segmentation
  • Demographic segmentation
  • Market segmentation
  • Basic segmentation

 

Question 16

________ are another tool for building emotional links with customers.

Answer

  • Frequently marketing
  • Affinity programs
  • Lifetime value of a customer
  • Customer relationships

 

Question 17

Small and large companies often do not rely on customer relationship management (CRM) software technology that helps them gather, sort, and interpret data about customers.

Answer

  • True
  • False

 

Question 18

________ is the process of dividing a market into several relatively homogeneous groups.

Answer

  • Data mining
  • Data warehouses
  • Market segmentation
  • Consumer markets

 

Question 19

________ is the process of collecting and evaluating information to help marketers make effective decisions.

Answer

  • External data
  • Internal data
  • Marketing research
  • Observational studies

 

Question 20

Marketing a good or service in foreign markets means deciding whether to offer the same marketing mix in every market or to develop a unique mix to fit each market.

Answer

  • True
  • False

 

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