St. Leo ACCOUNTING 560 Accounting Quiz Ch 1 – 4

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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

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