1. 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.
â€¢ Secondary data
â€¢ Primary data
â€¢ Licensed information
â€¢ Tertiary information
2. Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science?
â€¢ Marketing focuses on sales as the primary goal.
â€¢ Marketing balances the need for data with that of creativity.
â€¢ ...view middle of the document...
â€¢ It focuses mostly on monitoring the profitability of a company's products and services.
â€¢ It is defined as the field that deals with planning and managing a business at the highest level of corporate organization.
â€¢ It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
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7. In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because
â€¢ of stringent credit policies adopted by the Fed before the onset of recession
â€¢ the consumers have a high debt-to-income ratio
â€¢ of steady supply of loanable funds in the economy during recession
â€¢ consumer borrowing increases during recession
8. Which of the following elements of sociocultural environment can be associated with the growing demand for social surrogates like social networking sites, television, and so on?
â€¢ Views of ourselves
â€¢ Views of nature
â€¢ Views of others
â€¢ Views of organizations
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9. Wabash Bank would like to understand if there is a relationship between the advertising or promotion it does and the number of new customers the bank gets each quarter. What type of research is this an example of?
10. 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.
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11. Which of the following industries is most likely to use database marketing?
â€¢ A supermarket chain
â€¢ A local restaurant
â€¢ A physicianâ€™s office
â€¢ A school system
12. Which market do customers who have purchased and are driving Audi automobiles represent?
â€¢ Potential market
â€¢ Available market
â€¢ Target market
â€¢ Penetrated market
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13. When Apple introduced iTunes, a new market was opened. Which of the...