MKT 353 Week 1 Quiz

MKT 353 Week 1 Quiz | University of Phoenix

1.            A marketer is primarily in charge of which of the following tasks in a business?

·                      Creating a strategic plan to influence company objaectives and long-term business goals

·                      Performing financial analysis on the company’s past earnings

·                      Using creativity to build trust and cooperation within working groups

·                      Identifying the essence of the company’s brand story and conveying that story with passion

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2.            What is the difference between a marketing tactic and a marketing strategy?

·                      Successful marketing tactics change based on available technology and trends, while successful marketing strategies have stayed constant over time.

·                      Successful marketing tactics depend on consumer input and buy-in, while successful marketing strategies depend on the marketer’s skills and creativity.

·                      Marketing tactics are often seen as untrustworthy or exaggerated, while marketing strategies are usually seen as clever and intelligent.

·                      Marketing tactics are typically short-lived and unsuccessful, while marketing strategies are typically long-term efforts that yield results.

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3.            Which of the following is an example of digital disruption?

·                      Privacy controls on Facebook that prevent strangers from seeing one’s profile

·                      A consumer’s preference for using Apple products instead of Samsung

·                      A Wi-Fi network that stops working due to a faulty router

·                      Streaming services like Netflix replacing video rental stores like Blockbuster

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4.            Which of the following is true of product and brand management?

·                      Brand management is the role of marketers, while product management is the duty of advertisers.

·                      It takes years to build a successful brand, and it requires careful planning and consistent execution.

·                      Brand management typically takes on a supporting role, albeit an important one, to more central marketing activities.

·                      It requires little conscious thought to build a brand because consumers tell the brand story on their own.

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5.            Given current trends in the consumption of video content, which modes of advertising have faced barriers to reaching a wide audience in recent years? (Select all that apply.)

·                      Targeted television advertisements

·                      Video ads on YouTube

·                      Advertisements on television streaming services

·                      Social media advertisements

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6.            Which of the following describes the essential role of marketing?

·                      To convey to the customer how a product will make their life better

·                      To develop the most creative content that will make potential customers remember the brand

·                      To give a company’s customer touchpoints a consistent, visually appealing look and feel

·                      To make the biggest splash in a pool of competing products

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7.            How can marketers successfully use new possibilities presented by digital technology?

·                      Marketers should be quick to adopt new technologies—if a marketer can do something new, they should do it, or else they risk being left behind.

·                      Marketers should monitor the possibilities presented by new digital technology and integrate them if it makes sense in line with their broader marketing fundamentals.

·                      Marketers should be cautious about adopting any new strategies or tactics, because consumers are suspicious of changes.

·                      Marketers should stick to the fundamentals rather than being swayed by new possibilities, because the fundamentals are tried-and-true methods for success.

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8.            What is the purpose of the AIDA model?

·                      To provide a set of guidelines for creating marketing materials

·                      To understand how consumers make purchase decisions

·                      To model how to create a strong brand in a digital marketplace

·                      To influence consumers’ emotions and thoughts to encourage them to purchase something

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9.            Which of the following is true of today’s consumers?

·                      Advertising to older adults is tricky because they expect a seamless experience with a brand across different touchpoints more than other segments do.

·                      Consumers have more access to information, content, and purchasing options than ever before due to access to digital devices.

·                      Consumers today feel most satisfied about a purchase when they have spent a great deal of time and effort to make the right purchase decision.

·                      Advertising to teenagers and young adults is easy because they listen to a lot of radio, read extensively, and watch a lot of TV.

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10.          Which of the following should be included in a working mission statement for a hotel chain?

·                      The names of the manager and the head of each department

·                      The responsibilities of each employee in the company

·                      The daily cleaning schedule and room service menu

·                      The company’s commitment to provide clean rooms and exceptional customer service

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11.          How can a working mission statement help a company succeed?

·                      It gives employees a set of rules for how to interact with one another and with customers.

·                      It gives employees an understanding of budget constraints.

·                      It gives employees creative direction when developing marketing campaigns.

·                      It gives employees an understanding of strategic goals.

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12.          Which of the following is a good example of a working mission statement for a health and wellness company?

·                      We treat our employees with respect and acknowledge their individual contributions to our health and wellness initiatives.

·                      To grow our profits 10% year-over-year while investing in environmental sustainability initiatives

·                      We help our clients balance their lives and achieve wholeness through mental, physical, and emotional wellness. We guide you on your journey to true wellness and physical fitness and sustain our efforts by caring for the earth and caring for all human beings.

·                      To create healthier and happier clients through sustainable wellness initiatives

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13.          Which of the following types of information would be important to include in an operating charter for a marketing department?

·                      The primary objectives and job responsibilities of your team in creating marketing campaigns

·                      The salaries of each team member

·                      The due dates for each of your projects

·                      The company’s values of efficiency and innovation

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14.          How can a combined mission statement and operating charter help a company improve its systems?

·                      It grants authority to individuals within an organization and sets parameters for their roles.

·                      It helps focus employees’ time, energy, and resources on improving the business and reaching goals.

·                      It provides a view of the company’s goals and objectives in broad strokes.

·                      All of the above.

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15.          Which of the following is true?

·                      There is little reason to create a departmental working mission statement and operating charter if the company as a whole already has one.

·                      The most successful companies keep their business objectives a secret so that employees don’t take advantage of them.

·                      Working mission and operating charters help define internal systems so that employees can focus on meeting business objectives.

·                      Most of the problems in a corporation come from restrictive mission statements that provide little room for creativity.

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