BUS 360 500F, Midterm, Spring 2010, Burbank 1. According to the Boston Consulting Group, marketers may classify their products as all of the following except B) cash contributors. 2. What national self-regulatory organization screens ads? B) National Advertising Review Board 3. Successful business organizations should take actions to convert internal weaknesses into ___________ and external threats into ___________. E) strengths; opportunities 4. Which of the following employees is most responsible for setting the ethical tone for the entire marketing organization? A) Marketing manager B) Marketing employee C) Product manager D) Chief executive officer E) Vice president of marketing research 5. Why are marketers interested in consumers' levels of disposable income? D) It is a ready source of buying power. 6. Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is A) risk. B) time. C) monetary price. D) effort. E) availability. 7. Marketing activities are A) used by all sizes of organizations including for-profit, nonprofit, and government agencies. B) limited to use by larger for-profit and nonprofit organizations. C) implemented only to increase profits for the organization and to expand the scope of its customer base. D) used by all types and sizes of businesses but are not used by nonprofit organizations. E) used by small businesses and small nonprofit organizations the most. Use the following to answer question 8: James Reverley owns a funeral home that offers discount funerals. Reverley's funerals cost around $3,900, compared with an average cost of $6,500. Although business was slow at first,
his funeral home is now busy, because of referrals and advertising. Reverley does not believe that the funeral industry has been marketing-oriented, especially in price-disclosure policies and sales techniques. He became disenchanted with the traditional funeral services after working for several funeral homes. He drove limousines to cemeteries and kept hearing people in the back seat saying, ―This is terrible. Don't do this type of thing when I die. ‖ Reverley has indicated that he wants to provide an alternative. 8. Reverley apparently believes that traditional funeral directors are not using the _________ concept. A) marketing B) selling C) product D) people E) service 9. Extended problem solving is the type of consumer problem-solving process that A) involves no conscious planning but rather a powerful and persistent urge to buy something. B) is the most complex problem-solving behavior, which comes into play when a purchase involves unfamiliar, expensive, or infrequently bought products. C) requires a moderate amount of time for information gathering and search.
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