Home / Courses / Centre for Enterprise Development / IME511C / General / Test 2

Started on Wednesday, 18 October 2023, 8:13 PM

State Finished
Completed on Wednesday, 18 October 2023, 8:30 PM
Time taken 16 mins 45 secs
Marks 2200.00/2600.00
Grade 84.62 out of 100.00

Question 1 Which step of the marketing process lets the company reap the rewards of its strong customer
Correct relationships?
Mark 100.00 out
of 100.00 a. Designing a customer-driven marketing strategy
b. Building customer relationships
c. Capturing value from customers
d. Understanding the marketplace and customer needs

Your answer is correct.

The correct answer is:

Capturing value from customers

Question 2 _____ concept holds that consumers will favor products that are available and highly affordable.
Correct

Mark 100.00 out

of 100.00

a. Product

b. Marketing

c. Selling

d. Production

Your answer is correct.

The correct answer is: Production
Question 3 When backed by buying power, wants become _____.
Correct

Mark 100.00 out a. benefits

of 100.00
b. demands

c. offerings
d. needs

Your answer is correct.

The correct answer is: demands

Question 4 Which of the following is a result of the recent Great Recession?

Correct

Mark 100.00 out a. Growth of societal marketing

of 100.00
b. Move toward frugality

c. Increased spending on technology

d. Reduced regulatory intervention

Your answer is correct.

The correct answer is: Move toward frugality

Question 5 Which group of customers are referred to as “barnacles”?

Incorrect

Mark 0.00 out of

100.00

a. Those who show low potential profitability and little projected loyalty. 

b. Those who are potentially profitable but not loyal

c. Those who are highly loyal but not very profitable

d. Those who are both profitable and loyal.

Your answer is incorrect.

The correct answer is: Those who are highly loyal but not very profitable
Question 6 What is customer equity?
Incorrect

Mark 0.00 out of a. Customer's perceived opinion of a product's value to him or her.
100.00
b. The total combined customer lifetime values of all of the company’s current and potential
customers.
c. The difference between what a customer gets from a product, and what he or she has to give in
order to get it.
d. The present value of the future cash flows attributed to the customer relationship. 

Your answer is incorrect.

The correct answer is:
The total combined customer lifetime values of all of the company’s current and potential customers.

Question 7 Which of the following depends on the product’s perceived performance relative to a buyer’s
Correct expectations?
Mark 100.00 out
of 100.00 a. Customer satisfaction
b. Customer-generated marketing

c. Customer-perceived value
d. Customer-managed relationships

Your answer is correct.

The correct answer is:
Customer satisfaction

Question 8 Which is the first step in the marketing process?

Correct

Mark 100.00 out a. Preparing an integrated marketing plan and program.

of 100.00
b. Designing a customer-driven marketing strategy.
c. Building customer relationships.
d. Understanding the marketplace and customer needs.

Your answer is correct.

The correct answer is:
Understanding the marketplace and customer needs.
Question 9 The _____ concept questions whether the pure marketing concept overlooks possible conflicts between
Correct consumer short-run wants and consumer long-run welfare.
Mark 100.00 out
of 100.00 a. selling
b. product
c. responsibility marketing
d. societal marketing

Your answer is correct.

The correct answer is:
societal marketing

Question 10 With mature consumerism and environmentalism movements, marketers are called to develop _____.
Correct

Mark 100.00 out a. selling oriented practices

of 100.00
b. consumer-generated marketing
c. sustainable marketing practices
d. customer-managed relationships

Your answer is correct.

The correct answer is:

sustainable marketing practices

Question 11 Which of the following is the first step in the strategic planning process?
Correct

Mark 100.00 out a. Defining a market-oriented mission

of 100.00
b. Developing strategies for growth and downsizing
c. Designing the business portfolio
d. Setting company objectives and goals

Your answer is correct.

The correct answer is: Defining a market-oriented mission

Question 12 What is market penetration?

Correct

Mark 100.00 out a. Starting up or buying businesses beyond current products and markets.
of 100.00
b. Making more sales without changing the original product.
c. Identifying and developing new markets for current products.
d. Offering modified or new products to current markets.

Your answer is correct.

The correct answer is:
Making more sales without changing the original product.
Question 13 Which of the following involves evaluating each market segment’s attractiveness and selecting one or
Correct more segments to enter?
Mark 100.00 out
of 100.00 a. Market segmentation
b. Market differentiation
c. Market targeting
d. Market positioning

Your answer is correct.

The correct answer is:
Market targeting

Question 14 Which of the following Cs best describes the ‘Place’ component of the four Ps concept?
Correct

Mark 100.00 out a. Customer solution

of 100.00
b. Convenience
c. Communication
d. Customer cost

Your answer is correct.

The correct answer is:
Convenience

Question 15 _____ markets buy goods and services for further processing or for use in their production processes.
Correct

Mark 100.00 out a. Business 

of 100.00
b. Government

c. Reseller

d. Consumer

Your answer is correct.

The correct answer is: Business

Question 16 Which of the following is part of a company’s microenvironment?

Correct

Mark 100.00 out a. Marketing Intermediaries

of 100.00
b. Technological factors
c. Cultural factors
d. Demographic environment

Your answer is correct.

The correct answer is: Marketing Intermediaries
Question 17 Which of the following generational groups is characterized by utter fluency and comfort with digital
Correct technology?
Mark 100.00 out
of 100.00 a. Millennials

b. Generation X

c. Late bloomers
d. Baby boomers

Your answer is correct.

The correct answer is: Millennials

Question 18 Which of the following groups include neighborhood residents and community organizations?
Correct

Mark 100.00 out a. Internal publics

of 100.00
b. Citizen-action publics
c. Local publics

d. General publics

Your answer is correct.

The correct answer is: Local publics

Question 19 In a marketing information system, the first step is _____.

Correct

Mark 100.00 out a. forming focus groups

of 100.00
b. developing the needed information
c. assessing users’ information needs
d. distributing data to managers

Your answer is correct.

The correct answer is:

assessing users’ information needs

Question 20 Which of the following does marketing information derive its value from?
Correct

Mark 100.00 out a. Databases

of 100.00
b. Marketing information itself
c. Customer insights
d. Technology

Your answer is correct.

The correct answer is:
Customer insights
Question 21 _____ are electronic collections of consumer and market information obtained from data sources within a
Correct company’s network.
Mark 100.00 out
of 100.00 a. Commercial online databases
b. Data aggregators
c. Secondary databases
d. Internal databases

Your answer is correct.

The correct answer is:
Internal databases

Question 22 The systematic collection and analysis of publicly available information about consumers, competitors,
Correct and developments in the marketplace is referred to as _____.
Mark 100.00 out
of 100.00 a. industrial espionage
b. marketing research
c. business intelligence
d. competitive marketing intelligence

Your answer is correct.

The correct answer is:
competitive marketing intelligence

Question 23 The marketing research process includes four steps. The final step of this process is _____.
Incorrect

Mark 0.00 out of a. interpreting and reporting the findings

100.00
b. implementing the research plan 
c. developing the research plan
d. defining the problem and research objectives

Your answer is incorrect.

The correct answer is:
interpreting and reporting the findings
Question 24 The objective of _____ research methodology is to gather preliminary information that will help define the
Incorrect problem and suggest hypotheses.
Mark 0.00 out of
100.00 a. quantitative 
b. causal
c. exploratory
d. descriptive

Your answer is incorrect.

The correct answer is:
exploratory

Question 25 The research approaches used to gather primary data are _____, _____, and _____.
Correct

Mark 100.00 out a. surveys; observations; historic reviews

of 100.00
b. observations; experiments; surveys
c. experiments; databases; surveys
d. observations; surveys; databases

Your answer is correct.

The correct answer is:
observations; experiments; surveys

Question 26 Which of the following would a marketer use to collect large amounts of information at a low cost per
Correct respondent?
Mark 100.00 out
of 100.00 a. Personal interviews
b. Focus groups
c. Approach interviews
d. Mail questionnaires

Your answer is correct.

The correct answer is:
Mail questionnaires

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