Question 1

When a firm analyzes its objectives and performance,availability of resources,structural characteristics,and organizational culture,the firm is most likely examining its:

Accepted Answer

Analyzing objectives and performance, availability of resources, structural characteristics, and organizational culture are all aspects of the internal environment of a firm. This includes factors within the organization that can potentially impact its strategy and operations.

Question 2

Which of the following cultural values is not typically associated with American consumers?

Accepted Answer

American consumers are generally known for their short-term thinking and immediate gratification, rather than a long-term focus.

Question 3

Which of the following statements does not describe a reason why noncustomers do not purchase a firm's products?

Accepted Answer

A

Question 4

In the 5W model of customer analysis,what is the primary emphasis of the "What" question?

Accepted Answer

The answer of In the 5W model of customer analysis,what...

Question 5

Compared to primary data,secondary data have the main advantage of:

Accepted Answer

Secondary data is typically cheaper to obtain than primary data, which involves collecting data from scratch through surveys, experiments, or other methods.

Question 6

In the 5W model of customer analysis,what is the primary emphasis of the "Why" question?

Accepted Answer

The primary emphasis of the "why" question in the 5W model of customer analysis is to identify the basic need-satisfying benefits provided by the firm's products. This helps in understanding why customers choose to buy a particular product and what motivates them to do so. It also helps in developing effective marketing strategies that align with the customers' needs and preferences.

Question 7

What is the main purpose of the Sarbanes-Oxley Act of 2002?

Accepted Answer

The main purpose of the Sarbanes-Oxley Act of 2002 is to increase the accuracy and reliability of corporate disclosures of financial information, in order to protect investors and to prevent corporate fraud.

Question 8

The collection of strategic activities aimed at marketing an organization,its issues,and its ideals to potential stakeholders is referred to as __________.It typically involves marketing activities that are not directed to the end users of a firm's products.

Accepted Answer

The answer of The collection of strategic activities aimed at...

Question 9

In many buying situations,customers will buy one product because it complements another product.In these cases of __________ demand,the demand of one product depends on the demand of another product.

Accepted Answer

Derived demand is a type of demand where the demand for a product is influenced by the demand for another related product. In this case, customers buy one product because it complements another product. The demand for the first product is derived from the demand of the second product. Therefore, the best choice is E - derived.

Question 10

As a form of __________ competition,bicycles can solve the same basic need as automobiles,albeit with a very different product.

Accepted Answer

Generic competition refers to the competition between products that can fulfill the same need or desire, even if they are different types of products, such as bicycles and automobiles for transportation.

Question 11

Between now and 2050,__________ will account for a full 90 percent of the growth in the total U.S.population.

Accepted Answer

Minority populations, specifically Hispanic, Black, and Asian communities, are projected to experience significant growth through both natural increase (births minus deaths) and immigration. This trend is expected to continue through 2050, accounting for 90 percent of the total U.S. population growth.

Question 12

The sheer volume of available information on the economy,population,and business activities is the major strength of most __________ data sources.

Accepted Answer

Government data sources, such as from the Bureau of Labor Statistics or Census Bureau, have access to a large amount of information on the economy, population, and business activities. This information is often comprehensive and reliable, making it a major strength of government data sources.

Question 13

Which of the following examples best describes an advance in backstage technology?

Accepted Answer

The use of radio frequency identification (RFID) to control inventory and logistics is an example of backstage technology, as it is a technology used behind the scenes to manage and track inventory and logistics processes. The other options are more related to consumer-facing technology and do not necessarily impact backstage operations.

Question 14

Although internal data sources have a number of advantages,one of their biggest problems is:

Accepted Answer

Internal data can be stored in various forms and formats, which may not be easily accessible or compatible with the software used for analysis. This can make it difficult and time-consuming to extract relevant information from internal data sources.

Question 15

Microsoft is interested in customers' perceptions of Windows 8,its new PC operating system.Since the research goal is rather specific,Microsoft should conduct its own __________ research by asking customers to complete an online questionnaire.

Accepted Answer

Since Microsoft wants to gather information directly from its customers about their perceptions of Windows 8, conducting its own primary research is the best choice. This can be achieved by asking customers to complete an online questionnaire. Secondary research involves analyzing existing data from secondary sources, such as published reports or government statistics. Qualitative research involves gathering non-numerical data and observation involves watching people in natural settings. Experimental research requires manipulating variables to identify cause-and-effect relationships.

Question 16

Issues such as marketing's position and authority in a firm's hierarchy,the overall market orientation of the firm,and the emphasis on short- or long-term planning are examples of which component of the internal environment?

Accepted Answer

The organizational structure of a firm determines the position and authority of different departments, including marketing. It also affects the overall market orientation of the firm and the emphasis on short- or long-term planning. Resource availability, marketing objectives, marketing infrastructure, and marketing strategy are all related to marketing itself and not the internal environment component in question.

Question 17

In the competitive sports drink market,Gatorade pays very close attention to the activities of Powerade,a major __________ competitor that markets drinks that are similar in features and benefits.

Accepted Answer

The answer of In the competitive sports drink market,Gatorade pays...

Question 18

What is perhaps the most important economic reality in the United States over the last 50 years?

Accepted Answer

The answer of What is perhaps the most important economic...

Question 19

With respect to conducting a situation analysis,which of the following IS NOT one of the four important issues to keep in mind?

Accepted Answer

Not all bits of data are relevant, and it is important to prioritize and analyze the most important and relevant data.

Question 20

The growth of the Internet has changed the way that situation analysis is conducted in today's business environment.In terms on situation analysis,which of the following is the most drastic change caused by the Internet?

Accepted Answer

The answer of The growth of the Internet has changed...

Quiz 3: Collecting and Analyzing Marketing Information