ashworth college BM350 Online Exam 1

Part 1 of 1 – 90.0/ 100.0 Points
Question 1 of 20
5.0/ 5.0 Points
As economies advance, a growing proportion of their activities focuses on the production of:
A. products.
B. events.
C. experiences.
D. services.
Question 2 of 20
0.0/ 5.0 Points
Companies address needs by putting forth a __________, a set of benefits that they offer to customers to satisfy their needs.
A. brand
B. value proposition
C. deal
D. marketing plan
Question 3 of 20
0.0/ 5.0 Points
__________ goods constitute the bulk of most countries’ production and marketing efforts.
A. Durable
B. Impulse
C. Physical
D. Luxury
Question 4 of 20
5.0/ 5.0 Points
If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a:
A. service channel.
B. distribution channel.
C. communication channel.
D. relationship channel.
Question 5 of 20
5.0/ 5.0 Points
Michael Porter’s value chain would identify which of the following as a support activity?
A. Shipping out final products
B. Marketing products
C. Procurement
D. Servicing products
Question 6 of 20
5.0/ 5.0 Points
What are hollow corporations?
A. Companies that market their products through franchisees
B. Companies that have liabilities exceeding their assets
C. Companies that outsource all production to suppliers
D. Companies that do not have any physical presence and only operate online
Question 7 of 20
5.0/ 5.0 Points
The success of online purchasing resulted in __________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
A. disintermediation
B. diversification
C. reduced competition
D. deregulation
Question 8 of 20
5.0/ 5.0 Points
When companies measure the number of people who are willing and able to buy their products, they are measuring:
A. demand.
B. price elasticity.
C. real needs.
D. standard of living.
Question 9 of 20
5.0/ 5.0 Points
The __________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).
A. operations processes
B. manufacturing processes
C. primary activities
D. secondary activities
Question 10 of 20
5.0/ 5.0 Points
__________ has three characteristics: (1) it is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits; (2) it has applications in a wide variety of markets; and (3) it is difficult for competitors to imitate.
A. Core competency
B. Market sensing process
C. Corporate social responsibility
D. Strategic business unit
Question 11 of 20
5.0/ 5.0 Points
A(n) __________ is when a company might seek new businesses that have no
relationship to its current technology, products, or markets.
A. concentric strategy
B. diversification strategy
C. horizontal strategy
D. intensive growth strategy
Question 12 of 20
5.0/ 5.0 Points
The “Malaysia, Truly Asia” ad campaign that showcased Malaysia’s beautiful landscape and its multicultural society in order to attract tourists is an example of __________ marketing.
A. event
B. property
C. service
D. place
Question 13 of 20
5.0/ 5.0 Points
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.
A. developing
B. positioning
C. communicating
D. reversing
Question 14 of 20
5.0/ 5.0 Points
James Frank has been put in charge of gathering marketing intelligence, disseminating it within his organization, and eventually directing action on the information. Mr. Frank’s task is best described as part of the:
A. market-sensing process.
B. new-offering realization process.
C. customer acquisition process.
D. customer relationship management process.
Question 15 of 20
5.0/ 5.0 Points
Juan Garcia plans the daily promotional releases about his company’s products and services. He can be described as a __________ planner.
A. strategic
B. selective
C. tactical
D. niche
Question 16 of 20
5.0/ 5.0 Points
Value delivery process can be divided into three phases, out of which “choosing the value” implies __________, which is the essence of strategic marketing.
A. segmentation, developing, and delivering
B. targeting, positioning, and communicating
C. targeting, positioning, and delivering
D. segmentation, targeting, and positioning
Question 17 of 20
5.0/ 5.0 Points
A characteristic of a __________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.
A. strategic business unit
B. subsidiary unit
C. merged unit
D. niche market unit
Question 18 of 20
5.0/ 5.0 Points
The __________ includes the actors involved in producing, distributing, and promoting an offering. The main actors are the company, suppliers, distributors, dealers, and the target customers.
A. economic environment
B. management environment
C. strategic environment
D. task environment
Question 19 of 20
5.0/ 5.0 Points
A __________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
A. metamarket
B. vertically integrated market
C. horizontally integrated market
D. marketspace
Question 20 of 20
5.0/ 5.0 Points
Which of the following holds that consumers prefer products that are widely available and inexpensive?
A. The product concept
B. The production concept
C. The selling concept
D. The marketing concept