Mkt 571 Week 1 Quiz

MKT 571 WEEK 1 QUIZ

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MKT 571 Week 1 Quiz,

WEEK 1

1

In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because

the consumers have a high debt-to-income ratio

consumer borrowing increases during recession

of stringent credit policies adopted by the Fed before the onset of recession

of steady supply of loanable funds in the economy during recession

Correct

2

Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science?

Marketing balances the need for data with that of creativity.

Marketing is about advertising.

Marketing focuses on sales as the primary goal.

Marketing is involved with price as the major factor.

Correct

3

What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and found articles about many of them in terms of their capabilities, strengths, and weaknesses.

Licensed information

Secondary data

Primary data

Tertiary information

Correct

4

Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings.

Diversification

Differentiation

Focus

Promotional

Correct

5

The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n)

service

event

place

idea

Correct

6

When Apple introduced iTunes, a new market was opened. Which of the following describes this type of innovation?

Value capture

Presence

Value chain

Operational excellence

Correct

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