Strategic management includes the following: A. 74) The environment in which marketing and marketers operate is dynamic and usually outside the control of marketing managers. Understanding value in business markets and doing business based on value delivered gives suppliers the means to get an equitable return for their efforts. a. Read Paper. 1 answer below . (a) True (b) False. 2. Business suppliers use social networ. All of the above. The business-to-business (B2B) market includes people who buy products to: answer choices. 10 Reasons Why B2B Marketing is Special and Different to Consumer Markets. Discuss the following marketing approaches for your airport . Conclusion (4) Small-scale enterprises dominated the economic scene. b. ii. Question. Identifying and understanding global customer needs means that the international marketer . Establishment of strategic direction f Chapter 1: The Strategic Management Process B. Political structures often channel self-interest toward social destruction. Which of the following is not emphasized by Japanese business culture: a. self-denial b. harmony and consensus c. market share d. independence 33. Google Digital Garage is an online program where you can learn about the fundamentals of digital marketing and also help to make your online businesses visible to more customers with fewer investments. True: Of the following, which is one of the central principles recommended in this chapter for firm organizing itself for international business: Organize value-adding activities along lines of comparative advantage 4. The business-to-business (B2B) market includes people who buy products to: answer choices. II. True B. External legitimacy for a firm is best established by creating business plans. Marketing Mix is the most visible part of the marketing strategy of an organization. Each party has to arrange its own logistics system. Term. The growth of powerful communications technologies and the emergence of world cultures create the condition for global markets. B. Intrapreneurship. The essence of customer value management . Which of the following statements is true of business plans? All of the above. Which of the following is TRUE about Business-2-Business markets: a. there are more individual buyers than in B-to-C markets b. the demand is elastic c. the demand is stable d. B-to-B markets are more geographically concentrated ------------------------------------------------------------------------------------------------------------------ 2. c. It has long and indirect channels of distribution. . 2. Tags: Naturally, business thrives when the economy is growing, employment is full, and prices are stable. Actually, making goods or performing services is called marketing. View Answer. Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with consumers. True False 3. Answer: FALSE: 76) The marketing concept is entirely consistent with serving only segments of the customer population . connector demand. True False 2. It is a process whereby people exchange goods and services for money. 30 seconds. In brokered markets:A) the commission charged by brokers is a lower cost to buyers and sellers than the cost of direct search. D. 3. Definition. Drawing up a business Plan B. True. The modern economy is essentially made up of three distinct sectors: primary, secondary, and tertiary. The following are the differences between horizontal and vertical markets: Horizontal markets focus on a target demographic that can be found in various industries, whereas vertical markets focus on one specific consumer who is only found in the vertical market. A. Holistic B. Demand-based C. Direct D. Relationship E. Synthetic Answer Question. There are more transactions in B2B markets and more high-dollar transactions because business products are often costly and complex. . it includes goods such as portable drills, power tools, and microcomputers which of the following statements is true of accessory equipment? Franchise It is a process whereby people exchange goods and services for money. 1) Which of the following is true of strategic planning in a firm? 1. It allows them to sell products or services to other companies or organizations that resell them, use them in their products or services or use them to support their works. To do marketing surveys Answer Question. The four different . (1) Marketing was not a subject then. answer choices it is dominant in its field the owner is usually the manager it serves a small market it operates in one or a few locations Question 15 30 seconds Q. There are more transactions in B2B markets and more high-dollar transactions because business products are often costly and complex. Use them in day-to-day operations. B) buyers and sellers are brought together for a commission.C) brokers build a pool of price information through their extensive contacts. bynd cannasoft enterprises inc. (bcan) is up over 35% at $7.07 kohl's corporation (kss) is up over 13% at $47.70 redwood trust, inc. (rwt) is up over 12% at $10.45 gitlab inc. (gtlb) is up over 10%. True False 19. After you analyze the market, it's time to take a look at your findings. Hiring of competent staff C. Identifying a good Target market D. Feasibility analysis of an apparent opportunity ANSWER:D. B2B Email Marketing. We believe that there are ten key factors that make business-to-business markets special and different to consumer markets. A You need a website to show up in search results B You'll reach a similar client base to the one you have in the real world C You'll be seen by the same volume of customers whether you use search advertising or not D Social media is a great way to engage your audience B. If you are looking forward to becoming a marketing guru, there is no better way to assess your knowledge than quizzes. A business cycle is basically defined in terms of periods of expansion . False 2. b) All literate customers. Do share the quiz with friends who are into marketing. a dealer. b. Ans. 1. Our marketing mechanism is deemed successful only if -. 3. Loyal customers are less profitable than those who are price sensitive and perceive no . Today, most international migrants are refugees. Explain whether the observation appears to contradict the weak, semi-strong, or strong form of the efficient-market hypothesis. Business Cycle: The business cycle is the fluctuation in economic activity that an economy experiences over a period of time. 1 answer below . False. Among major players in business markets include fisheries, agriculture, mining, transportation, construction, mining, communication, finance, distribution and insurance services. 30 seconds. The most formal and best definition of marketing is ___________. An economic buyer is a typical member of the DMU. (d) All of the above. Term Buying Center Definition Google Digital Garage is an online program where you can learn about the fundamentals of digital marketing and also help to make your online businesses visible to more customers with fewer investments. View Answer. III. Which of the following is true of relationship marketing? Which of the following is considered a "key player" in the marketing industry? a. A) In a perfect capital market, a firm can increase its value by issuing debt (rather than equity) to finance a project, because the cost of debt (rp) is always smaller than the cost of equity (TE). True B. These entities can conduct business with each other as they see necessary, and consumers can buy and sell at their . Entrepreneurship. marketer suppliers or vendors distributors or retailers all of the above 18. C. free delivery. A. 1.40Select the statement that describes what should be done prior to starting a successful business to remedy high failure rates of enterprises. Make other products. Commitment to opportunity. Machine malfunction, firm introduces or modifies a product, etc. Which of the following is true of business markets? 6.) marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business. Question 3 options: True. Each party has something that is of some value to the other party. c. Each party has the ability and desire to indulge in exchange. C. Typically, the higher-performing firms in any industry tend to be those who do not have any business plan. an institutional buyer. Q #9: The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing: A. Email marketing is a tried and true method of reaching both individual consumers and business customers. Market research methods allow organizations and individual researchers to discover their target market, collect and document opinions and make informed decisions. I. Finance questions and answers. Make other products. 3-98 b p. 115 B Which of the following is not a correct statement of a change that will affect how companies do business in Europe's single market: a. harmonization of product standards The main difference between B2B and B2C is who the buyer of a product or service is. The planning team comes up with a list of options . A. A designed change that increases the usefulness of a product, services, or process answer choices innovation invention improvement entrepreneur Question 16 30 seconds Which of the following statements about population is correct? Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs b. (a) An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization. Question 4 (10 points) Money markets are markets where equity securities and debt securities with maturities of greater than one year are traded. ANSWER:A. Indicate whether the following statement is true or false: The attractiveness of a nation for global sourcing relates to factors such as the political environment, physical infrastructures, and the. A. There are also fewer buyers in B2B markets, but they spend much more than the typical consumer does and have more-rigid product standards. Loyal customers are less profitable than those who are price sensitive and perceive no . (b) They allocate funds available for investment into their most productive investment opportunity. The environmental influences of the level of primary demand, the economic outlook, and the cost of money all make their way into the decision. A. Options. A business that effectively coordinates channel management with marketing activities is more likely to provide A. good customer service. In some countries, in-migration comprises a significant amount of population growth. Select one: a. 2. C. Managerial domain. True B. Our marketing mechanism is deemed successful only if -. 11 Premium Courses By Google For FREE With Certificate; What Is Google Digital Garage Course? This is quite an unfortunate mistake as the two, though similar in concept, are very different. Q #10: The entrepreneur's_______________ depends on his perception of the opportunity. c) All computer literate customers. a. Answer (d) All of the above 2) Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy. It deals with products that are used to facilitate an organization's operations. Which of the following statements is true of business marketing? Covenant Books specializes in all genres of work which appeal to the Christian market. The market economy is an economy where private and public ownership of businesses is the norm. Answer: (b) 6. Chapter 01 Globalization True / False Questions 1. According to the text, marketing means "selling" or "advertising." 2. It is a free program and also provides certificates at the end of the final exam. It is a free program and also provides certificates at the end of the final exam. To position his business, John may consult the 5 Ps of marketing in the following manner: Product: By-the-hour jet ski rentals for people who are in the city for a short duration of time. d) All of the above 2. As a . One of the most common mistakes people make, when it comes to commercial transactions is thinking that business markets (B2B) are the same as consumer markets (B2C). True 11. A) I and III B) I and II C) II and III D) I, II, and III D ) I , II , and III 99. Brand element is also known as: a) Awareness b) Recall c) Identity d) Image 3. False. For additional information or media inquiries, contact Covenant Books at 843-507-8373. (5) None of these. Answer: TRUE: 75) Customer focused marketing advocate serving all customers' needs at all costs. A. b. In the "developed" world only, rapid urbanization is reshaping population . Marketing plays an essential role in creating customer satisfaction. On the other hand, when the economy is slowing (or stalled) and unemployment is rising, people have less money to spend, and the marketer's job is harder. Vertical markets vs. horizontal markets. (3) People don't want to sell anything. Both economic and personal factors play a part in buying decisions. It is a way to promote business and improve profit too. Marketing products is easier because consumers are willing to buy. D. Administrative domain. a distributor. Land, buildings, materials, resources, and money are owned by businesses and consumers. Covenant Books is an international Christian owned and operated publishing house based in Murrells Inlet, South Carolina. Term Systems selling (or solutions selling) Definition Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation. Key Takeaway. Power is at the heart of . The segment of the business market that seeks to achieve goals other than the standard business goals of profit, market share, and return on investment consists of: A. institutions B. resellers C . All of the above. d. It includes selling stationaries to students. The demand for business products or services depends on the level of activity that the buying organization can create in its own markets. (b) Improving the quality of life for consumers by selling them products and services. Marketing strategy planning is the process of deciding how best to sell the products the firm produces. Each party has to arrange its own logistics system. Horizontal markets are much broader than . Answer: (b) 6. A business buying situation in which the buyer purchases a product or service for the first time. When Tata Steel notices a drop in the demand for steel as a result of a decline in ultimate consumer demand for automobiles, this illustrates the concept of: derived demand. B) In a perfect capital market, purely financial transactions always . Information from interviews or focus groups within your target market. False 3. a. b. A. c. Buyers are usually not skilled at comparing competitive product offerings. Customers in consumer markets initiate a direct demand with their purchases. Which of the following observations, if true, indicate market inefficiency? connector demand. 1. False. Answer: b. a user. Resell them. Learn more with market research types and examples. A company does not need a large size to facilitate, and benefit from, the globalization of markets. (a) An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization. Definition. a distributor. Answer. A holder takes an instrument for value if he or she inherits an instrument. 1. A business market is made up of groups of people who buy goods and services to use in producing other products, to resell, or for their own use in their day-to-day operations. It is estimated that marketing costs about 50 percent of each consumer's dollar. a dealer. The following categories are B2B marketing channels bound to connect you to your target audience. Which of the following statements is TRUE? The buyer is buying the product to achieve some sort of business advantage. B. The most formal and best definition of marketing is ___________. A. Prior to the Industrial Revolution, selling was no problem and no sales team is required because. Press Release Service by Newswire.com. Which of the following statements is true when marketing your business online? Business markets have fewer sellers and buyers in any market segment than do consumer markets. D) All of the above are true of broker markets. (c) They link the households which save funds and business firms which invest these funds. Which of the following is true about the consumer-focused marketing mix? Many people are investing in more resources and money in business markets. In a business setting, major purchases typically require input from various parts of the organization, including finance, accounting, purchasing, information technology management, and senior management. It emphasizes the use of ethically sourced material. Buyers have limited purchasing power. B2B markets differ from B2C markets in many ways. Laborers and workers work for these companies. (5) 41. False. 6. NRI is an easy target for effective marketing, because a) He likes Indian goods. The prisoner's dilemma basically provides a framework for understanding how to strike a balance between cooperation and competition and is a useful tool for strategic decision-making. Unformatted text preview: Finance I, Problem Set 6 Questions: Market Efficiency 1. Advertisement Remove all ads. b c. Each party has the ability and desire to indulge in exchange. Lay out all of your research and organize it using different sections. Many monopolies are government-created. Analyze your findings. Which of the following statements is true? These are described below: 1. Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). One fact you should always remember about business markets is that it is a business to a business transaction where one company buys . It refers to the sale of goods and services for the purpose of personal consumption. Which of the following types of business organizations reduces or limits the risk of its stockholders: A. Implementation of strategies C. Analysis of the internal environment D. Strategic restructuring E. All of these are true Answer: E 11. Each party has something that is of some value to the other party. Marketing Quizzes & Trivia. It includes many activities that are performed even before goods are actually produced and continue even after the goods have been sold. Include sections for your purpose, target market, and competition. It involves elements the business cannot control. Resell them. Business suppliers use social networ. Marketing plays an essential role in creating customer satisfaction. (b) Improving the quality of life for consumers by selling them products and services. Question 3 (10 points) Finance is the study of how individuals, institutions, and businesses acquire, spend and manage money and other financial resources. Firms without a business plan are less likely to close down than firms with plans. For instance, in both cases, people are involved in the process of evaluating the necessity of goods and products and at the same time carry out different roles in ensuring that they attain satisfaction of such needs. a. Strategic (management) planning is a managerial process of developing and maintaining a match between the resources of the production department and its product opportunities. Not all business markets are the same - that's especially true of the modern business markets. b) He is easily approachable. Answer: b. a user. . Business buyers purchase goods to make or resell a product to others at a profit. We have a collection of 200+ online marketing quizzes for you that will help you identify knowledge gaps and build confidence. d. a. When Tata Steel notices a drop in the demand for steel as a result of a decline in ultimate consumer demand for automobiles, this illustrates the concept of: derived demand. True. Strategic sourcing is about understanding the markets you're purchasing from inside and out and learning from your own organization and your suppliers' organizational processes, working as a mediator between suppliers and your organization, and capturing information and using it to improve relationships. According to the text, marketing means "selling" or "advertising." A. Explanation: For developing a web presence for a business you can so many things such as creating social media profiles, launching a good UX website but it requires a tight budget for it but the most effective and easiest thing that you can do that will be loved by your user is by creating a mobile app so that any customer can place an order for the products they need. Use them in day-to-day operations. The shift toward a more integrated and interdependent world economy is referred to as globalization. Q. Term. (a) They work as an intermediary between the savers and the investors by mobilising funds between them. Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs b. Question. True B. A. Answer: F MULTIPLE CHOICE QUESTIONS 10. Example of the 5 P's of Marketing. Actually, making goods or performing services is called marketing. It aims to promote social responsibility. 2. 2. View Answer. Businesses spend most of their advertising rupees on business-to-business markets. Even the company's Products navigation menu includes how the product can "Get Your Business Online" and "Market Your . 4. There are also fewer buyers in B2B markets, but they spend much more than the typical consumer does and have more-rigid product standards. Tags: 1. Family planning policies seek to limit population growth. John is considering operating a jet ski shop catering to travelers and tourists. Competitive markets channel the self-interest of business leaders toward social prosperity. an institutional buyer. Each organization has its own objectives, policies, procedures, structure, and systems to learn.