3301 Mkt Exam 2 Questions

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Question 1
Macy's is considered which type of organizational customer? Answer
| | Producer.|
| | Intermediary.|
| | Government.|
| | Nonprofit.|
2 points
Question 2
"From a marketing perspective, product quality primarily depends on, " Answer
| | the price of a product.|
| | a product working as it is supposed to work.|
| | quality control procedures used during manufacturing.| | | the customer's specific requirements and needs.|
| | the features of products offered by competitors.|
2 points
Question 3
______ are a boom-or-bust business.
Answer
| | Accessories|
| | Professional services|
| | Installations|
| | Specialty|
| | Supplies|
2 points
Question 4
Raw materials
Answer
| | are treated as expense items.|
| | are unprocessed but eventually become part of a final physical good.| | | include both farm products and natural products.|
| | move to the next production process with little handling.| | | All of these alternatives are correct.|
2 points
Question 5
"Wu Chen frequently travels to Caracas, Venezuela where the only hotel he will stay at is the Crown Prince Hotel. His level of brand familiarity toward the Crown Prince Hotel is ______ " Answer
| | brand awareness.|
| | brand familiarity.|
| | brand rejection.|
| | brand recognition.|
| | brand insistence.|
2 points
Question 6
Business market researchers commonly use ______________ because of their flexibility. Answer
| | mail questionnaires|
| | focus group interviews|
| | personal interviews|
| | telephone interviews|
| | none of these choices is a good answer.|
2 points
Question 7
When looking at NAICS codes:
Answer
| | "The fewer numbers in the code, the more general the industry classification is."| | | "The more numbers in the code, the more general the industry classification is."| | | "The fewer numbers in the code, the more specific the industry classification is."| | | The United States is the only country to collect data that groups firms in similar lines of business.| | | None of these alternatives is correct.|

2 points
Question 8
The U.S. government collects and publishes data by _____ codes -- groups of firms in similar lines of business. Answer
| | JIT|
| | MFG LIST|
| | PRIZM USA|
| | NAPCS|
| | NAICS|
2 points
Question 9
"Boatwright College gives manufacturers of clothing and gift items permission to place the college's name and emblem on a wide variety of merchandise. In return, Boatwright is paid a fee for granting this permission. In this case, the Boatwright name and logo is a(n): " Answer

| | Manufacturer brand.|
| | Individual brand.|
| | Dealer brand.|
| | Licensed brand.|
| | Private brand.|
2 points
Question 10
Which of the following is NOT an economic need?
Answer
| | Dependability in use|
| | Hunger|
| | Economy of use|
| | Convenience|
| | Efficiency in use|
2 points
Question 11
Economists' economic-buyer theory assumes that:
Answer
| | income data are very useful for predicting consumer behavior.| | | buyers logically compare choices in order to maximize their satisfaction.| | | consumers should purchase only low-priced products.| | | buyers focus primarily on price.|

| | None of these is correct.|
2 points
Question 12
Which of the following is a condition favorable to successful branding? Answer
| | The product quality is difficult to maintain.|
| | The product is difficult to label and identify by brand.| | | Favorable shelf locations or display spaces are available in stores.| | | Limited availability for the product in the market.| | | No economies of scale for the product.|

2 points
Question 13
"Procter and Gamble buys unprocessed logs which are...
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