BA 317 Exam 1 Study Guide
BA 317 Exam 1 Study Guide BA 317
Popular in Mkt: Valu for Customer
Popular in Business Administration
This 4 page Study Guide was uploaded by Amy Notetaker on Sunday September 6, 2015. The Study Guide belongs to BA 317 at University of Oregon taught by Jessyca Lewis in Fall 2014. Since its upload, it has received 148 views. For similar materials see Mkt: Valu for Customer in Business Administration at University of Oregon.
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Date Created: 09/06/15
Study Guide Midterm Exam Fall 2014 Student According to the text marketing means A much more than selling and advertising B selling C producing and selling D advertising E selling and advertising Answer A Micromarketing A tries to accomplish a company39s objectives by anticipating customers39 needs and trying to satisfy them B begins with the production process C involves persuading customers to buy your product D is a social process involving all producers intermediaries and consumers E tries to make the whole economic system fair and effective Answer A Which of the following statements about a marketdirected economic system is True A Consumers enjoy substantial freedom of choice B Profit growth and survival are guaranteed C Government has no role D There is very little interaction between producers and consumers Answer A The quotmarketing conceptquot says that a business firm should A Aim all its efforts at meeting society39s needsregardless of profitability B Aim all its efforts at satisfying its customersat a profit C Sell those products which it can make at lowest cost D Place heavy emphasis on developing new products E Treat advertising and selling as its priority Answer B Target marketing in contrast to mass marketing A Assumes all customers have the same needs B Assumes everyone is a potential customer C Focuses only on small market segments D Tailors a marketing mix to fit some specific group of customers E Makes it more likely that a firm will face direct competition Answer D target marketing refers to marketing mix u A marketing mix consists of A policies procedures plans and personnel B the customer and the quotfour Psquot C all variables controllable and uncontrollable D product price promotion and place Answer D Any series of firms or individuals that participate in the flow of products from producer to final user or consumer is known as A customer service B a packaging line C a production line D a channel of distribution E mass marketing Answer D Promotion includes A advertising B personal selling C sales promotion D publicity E All of these may be included in Promotion Answer E means that a firm has a marketing mix that the target market sees as better than a competitor39s mix A Competitive advantage B Strategic policy C Customer equity D Comparative opportunity E Market development Answer A A SWOT analysis A focuses on what a firm plans to do to quotSatisfy Wishes Of a Targetquot customer B summarizes a firm39s quotstrategy wishes of its customers outlook and tacticsquot C helps defend against potential competitors by developing a set of competitive quotsafeguards weapons offensives and tacticsquot D identifies a firm39s quotstrengths weaknesses opportunities and threatsquot E seeks to reduce the risk of competitive surprises by scanning the market for quotsignals warnings omens and tipsquot Answer D A is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way A market segment B market grid C consumer network D market network E generic market Answer A Consumers remembering only what they want to remember is called A conscious response B selective retention C selective exposure D cognitive learning E selective perception Answer B Dissonance is a A tension caused by uncertainty about the rightness of a decision B conflict between opinion leaders C confirmation in the learning process D kind of belief E form of social influence Answer A In the purchase of a new computer monitor which of the following is an example of a user A A purchasing manager who arranges the terms of the sale B An IT manager who supplies information for evaluating alternatives C A secretary whose computer monitor is being replaced D A receptionist who controls the flow of information E A supply manager who helps write specifications Answer C ABC Technologies manufactures computer accessories such as modems and network cards Even though the company has several purchasing managers the company president has final authority on all purchases over 500 including the selection of the supplier In the typical buying center in this company the company president would have the primary role of A User B Buyer C lnfluencer D Decider E Gatekeeper Answer D Vendor analysis A Has the sole objective of getting the lowest possible price on a particular product or service from the supplier B Does not take into account the behavioral needs of purchasing managers and others involved in the buying decision C Is a formal rating of suppliers on all relevant areas of performance D None of these alternatives about vendor analysis is correct Answer D utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions A Marketing planning B Marketing processing C Marketing structure D Marketing research E Marketing strategy Answer D BA 317 Essentials of Marketing Fall 2014 Study Guide Midterm Exam Other Tips Be sure you understand what a strategy decision is what we need to do to accomplish an objective versus a tactical decision let s change the color of the shirts we offer The first step in evaluating any marketing opportunities is to consider what and what Understand market penetration Know what a vendor analysis is Another term for a dealer brand is a PRIVATE LABEL What is the first step in the marketing research process
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