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Questions Answered Incorrectly 1. Promoting an ethical business
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Questions Answered Incorrectly

 

1. Promoting an ethical business climate requires all employees to be dedicated to that goal

 

because

 


 

A. customers are only vaguely interested in a firm's ethical standards.

 

B. the roots of ethical conflict often are competing values of individuals.

 

C. managers rarely enforce values unless employees ask them to do so.

 

D. employees have to be taught ethical standards.

 

Student Answer: D

 

Answer: Incorrect

 

Reference:

 

4. Of the five steps to the strategic marketing planning process, which step usually comes in the middle of the

 

process?

 


 

A. Implementing marketing mix and resources

 

B. Evaluating performance

 

C. Defining the business mission

 

D. Identifying and evaluating opportunities

 

Student Answer: B

 

Answer: Incorrect

 

Reference:

 

7. Companies seek to develop a sustainable competitive advantage that can be maintained over a long period of

 

time and

 


 

A. can be patented or registered to protect it as intellectual property.

 

B. is easy for employees to use and remember.

 

C. is difficult for competitors to copy.

 

D. appeals to financial analysts and potential shareholders.

 

Student Answer: B

 

Answer: Incorrect

 

Reference:

 

8. When referring to exchange, marketers are focusing on the

 


 

A. trading of things of value.

 


 

B. promotional offers designed to stimulate barter.

 

C. location where products and services are traded.

 

D. price charged adjusted for currency exchange rates.

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

9. Henry often observes the FedEx and UPS delivery people who bring packages to his law firm, counting the

 

number of packages they deliver to other law firms in the building. He also regularly reviews court documents

 

about upcoming cases to see which firms are representing clients. Henry is engaged in

 


 

A. macroeconomic variable analysis.

 

B. intuitive diagnostics.

 

C. competitive intelligence.

 

D. demographic data collection.

 

Student Answer: A

 

Answer: Incorrect

 

Reference:

 

10. When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization

 

presently engaged?

 


 

A. Planning

 

B. Segmentation

 

C. Control

 

D. Implementation

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

11. Which of the following growth strategies involves expanding marketing efforts toward existing customers?

 


 

A. Product development

 

B. Market penetration

 

C. Market development

 


 

D. Diversification

 

Student Answer: A

 

Answer: Incorrect

 

Reference:

 

14. The centerpiece of the marketing environment analysis framework

 

is

 


 

A. consumers.

 

B. competitive intelligence.

 

C. green marketing.

 

D. corporate partners.

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

15. Wal-Mart is often used as an example of a store that consumers love to hate. The opening of a new WalMart in an area often results in the decline of small, local businesses. Local groups often protest but, before long,

 

find themselves shopping at Wal-Mart because Wal-Mart

 


 

A. makes life easier for the remaining businesses.

 

B. benefits consumers through low prices and large assortment.

 

C. benefits local communities through social-welfare programs.

 

D. offers better-quality products.

 

Student Answer: D

 

Answer: Incorrect

 

Reference:

 

19. When Mattel quickly recalled some of its toys upon learning of potential lead hazards, it used ethical

 

principles and approaches to

 


 

A. make sure it didn't get blamed for the problem.

 

B. shed unprofitable product lines and dispose of defective products.

 

C. maintain its strong relationship with its customers.

 

D. minimize the damage by focusing on the few product lines affected.

 

Student Answer: D

 


 

Answer: Incorrect

 

Reference:

 

20. Almost every organization includes values and ethics as part of their mission statement and includes a set of

 

explicit rules in the company's employee handbook. Once the rules are in place, there must be

 


 

A. weekly reminder seminars to enforce guidelines.

 

B. a system of controls that rewards appropriate behavior and punishes inappropriate

 

behavior.

 

C. a Web site where employees can vent their frustration over lapses in ethical

 

behavior.

 

D. commitment from customers to accept these rules.

 

Student Answer: D

 

Answer: Incorrect

 

Reference:

 

22. The many demands on consumers today have made it more difficult for marketers to

 


 

A. grab consumers' attention.

 

B. differentiate between the needs of Tweens and Baby Boomers.

 

C. deliver products just-in-time.

 

D. decide what to offer.

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

24. Products that may damage the environment, the use of sweatshop labor, and the marketing of hazardous

 

products are examples of

 


 

A. marketing social issues.

 

B. internal, controllable marketing issues.

 

C. managerial issues, but not marketing issues.

 

D. situational ethical issues.

 

Student Answer: B

 

Answer: Incorrect

 

Reference:

 


 

4. CVS drugstores used both lifestyle and demographic segmentation to

 


 

A. close unprofitable stores, or stores that would become unprofitable in the near

 

future.

 

B. determine what stores in what cities should carry lifestyle products like birth

 

control.

 

C. develop a product mix and set of promotion messages to reach their most frequent

 

and regular shoppers.

 

D. assist federal drug enforcement agents to track down illegal use of over-the-counter

 

drugs.

 

Student Answer: D

 

Answer: Incorrect

 

Reference:

 

7. _______ segmentation is the most common basis of consumer market segmentation because these

 

segments are easy to define and usually easy to reach.

 


 

A. Demographic

 

B. Geographic

 

C. Psychographic

 

D. Self-value

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

8. The first step in the segmentation process is to

 


 

A. clearly articulate the competition's modes and methods in advertising.

 

B. produce a disclosure statement listing the strengths and weaknesses of the firm's

 

past marketing strategies.

 

C. produce a perceptual map.

 

D. clearly articulate the firm's vision or marketing strategy objectives.

 

Student Answer: B

 

Answer: Incorrect

 

Reference:

 

14. Because marketing is all about creating value for customers, dividing the market based on _______

 

segmentation can be quite useful.

 


 

A. benefit

 

B. psychographic

 

C. geographic

 

D. self-actualization

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

15. Retail checkout scanning systems create a tremendous amount of purchasing information usually stored in a

 

company's

 


 

A. syndicated data service.

 

B. Web site.

 

C. data warehouse.

 

D. iPod system.

 

Student Answer: D

 

Answer: Incorrect

 

Reference:

 

16. A(n) _______ is often used to illustrate the position of a firm's products or brands in consumers'

 

minds.

 


 

A. VALS summary

 

B. perceptual map

 

C. loyalty timeline

 

D. mass-marketing analysis

 

Student Answer: C

 

Answer: Incorrect

 

Reference:

 

22. If a marketing researcher is ready to move beyond preliminary insights, he or she is ready to engage

 

in

 


 

A. syndicated marketing surveys.

 

B. conclusive research.

 


 

C. data warehousing.

 

D. exploratory research.

 

Student Answer: A

 

Answer: Incorrect

 

Reference:

 

23. Benefit-cost analysis in market research weighs the

 


 

A. benefit of primary data research versus the benefit of secondary data research.

 

B. benefit of a MkIS versus the cost of syndicated data.

 

C. potential benefit of exploratory research against the exact benefit of conclusive

 

research.

 

D. benefits of answering questions against the cost of the research.

 

Student Answer: A

 

Answer: Incorrect

 

Reference:

 

24. Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the

 

media. Paul is using this type of market research primarily to

 


 

A. help him understand the needs of his customers.

 

B. monitor his competitors.

 

C. increase profits through the sale of syndicated data.

 

D. provide a link between him and his production center.

 

Student Answer: A

 

Answer: Incorrect

 

Reference:

 

25. Within a perceptual map, an ideal point represents where

 


 

A. the lifestyle symbolism matches the consumer's self-idealization perception.

 

B. costs and benefits equal each other.

 

C. the marketing mix is established as a base-line.

 

D. a particular market segment's desired product would lie.

 


 

Student Answer: A

 

Answer: Incorrect

 

Reference:

 


 

 







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