Devry BUSN 115 Week 4 Quiz Latest

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Devry BUSN 115 Week 4 Quiz Latest

Question 1. Question : (TCO 3) A small business is defined as a company that _____.

is newly launched and has fewer than 100 shareholders

is dominant in its field and employs fewer than 1,500 employees

has a revenue of less than $750,000

is independently owned and operated and not dominant in its field

is funded through personal lines of credit and has fewer than 1,000 employees

Question 2. Question : (TCO 3) One of the general characteristics of a small business is that it typically sells fewer products _____.

to a larger customer base

to fewer market segments

to foreign companies

at lower costs to government agencies

at higher costs

Question 3. Question : (TCO 3) TechPoint, a technical writing and business documentation firm, finds it difficult to handle its training requirements. The company forms a one-year contract with Impact Inc., a language training firm, to conduct training and refresher courses for their employees. This is an example of _____.

downsizing

outsourcing

vertical integration

market penetration

diversification

Question 4. Question : (TCO 3) _____ are expensive organizational products with a long useful life.

Shopping products

Capital items

Expense items

Specialty products

Convenience products

Question 5. Question : (TCO 3) The introductory stage will be followed by a _____ stage for a successful product.

maturity

research

saturation

growth

infiltration

Question 6. Question : (TCO 3) The maturity stage of product lifecycle is _____.

a stage where a product’s price is at a high level

usually the shortest stage in a product’s lifetime

characterized by steep decline in profits

typically followed by a growth stage

a stage where firms have to win sales away from others

Question 7. Question : (TCO 4) Which of the following statements is true about the consumer decision process?

Behavioral economics suggests that consumer behavior follows a completely rational process.

Cognitive dissonance refers to the delivery of marketing messages to people who are not aware that they are being marketed to.

Companies, government agencies, and other organizations that buy goods and services are a part of the consumer market.

Many consumers tend to believe that “you are what you buy,” so they make or avoid choices that support their desired self-images.

Aspirational reference groups are those to which consumers actually belong, such as families, networks of friends, clubs, and work groups.

Question 8. Question : (TCO 4) The process of examining an organization’s current marketing situation, assessing opportunities and setting objectives, and then developing a marketing strategy to reach those objectives is called _____.

stealth marketing

strategic marketing planning

marketing research

social commerce

marketing concept

Question 9. Question : (TCO 4) Creating new goods and services for a firm’s current markets is called _____.

market penetration

product development

market development

diversification

pure play

Question 10. Question : (TCO 4) Wholesalers differ from retailers in that wholesalers _____.

sell products to organizational customers

are marketing intermediaries

primarily sell products to consumers for personal use

cannot sell products to consumers for personal use

create place utility and time utility

Question 11. Question : (TCO 4) AMS Technologies, a computer hardware reseller, purchases computer components from leading manufacturers and builds fully operational personal computer systems customized for specific consumer requirements, such as nonlinear video editing capabilities. The firm sells its products to various companies and educational institutions. AMS Technologies belongs to which of the following class of intermediaries?

Retail outlet

Drop shippers

Manufacturers’ representatives

System integrators

Specialty stores

Question 12. Question : (TCO 4) Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions?

Transport the goods from the producer to the retail outlets

Assist with advertising, in-store displays, and other promotional efforts

Provide market information

Divide bulk quantities into smaller packages

Complete or customize solutions for customers

Question 13. Question : (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.

Federal Communications Commission

Consumer Product Safety Commission

Federal Trade Commission

Federal Advertising Administration

Federal Regulatory Commission

Question 14. Question : (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites.

attack ads

advocacy advertising

cooperative advertising

remarketing

search engine marketing

Question 15. Question : (TCO 4) A television commercial promoting a new range of naturally flavored ice cream, manufactured by Ice Fountain, an ice cream and candy manufacturing firm, is an example of which of the following elements in the communication mix?

Institutional advertising

Sales promotion

Social media

Product advertising

Personal selling

(TCO 3) The introductory stage will be followed by a _____ stage for a successful product.

maturity

research

saturation

growth

infiltration

week 6

 

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