Multiple choice questions:
1. Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as
differentiation
market development
integrative growth
overall cost leadership
2. The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n)
event
place
service
idea
3. 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.
Differentiation
Diversification
Promotional
Focus
4. A company's sales potential would be equal to market potential when which situations exists?
Industry marketing expenditures approach infinity for a given marketing environment.
The company gets 100 percent share of the market.
The marketing expenditure of the company is reduced to zero.
The market is nonexpandable.
5. One of the most critical steps in the defining process of market research is
analyzing the internal environment
defining the problem, the decision alternatives, and research objectives
reading marketing research journals
developing a research plan
6. 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
7. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because
of stringent credit policies adopted by the Fed before the onset of recession
the consumers have a high debt-to-income ratio
of steady supply of loanable funds in the economy during recession
consumer borrowing increases during recession