What are the outcomes associated with changes in digital technology and the rise of the Internet, except mass customization, cognitive dissonance, new types of promotional tools and methods, and a shift in power from producers to customers?

  

Answer the following mcqs
Introduction to Business work help
Question 1
Q.1 All of the following are outcomes associated with changes in digital technology and the rise of the
Internet EXCEPT:
1.mass customization.
2.cognitive dissonance.
3.new types of promotional tools and methods.
4.a shift in power from producers to customers.
Question 2
Q.2 The relevant concept of value in marketing is based on the:
1.objective measure of quality exclusively.
2.customer’s belief that a product has a better relationship than its competitors between the cost and
the benefits.
3.ability to buy the product at the lowest possible cost irrespective of the decrease in quality.
4.form utility of the product.
Question 3
Q.3 The biggest disadvantage of observation research is that it:
1.tends to be extremely expensive.
2.yields little or no insight into the motivation behind the observed behavior.
3.generates secondary data rather than primary data.
4.focuses on what people say rather than what they actually do.
Question 4
Q.4 Which of the following scenarios exemplifies green marketing?
1.Janet sells home-made pickles and jams.
2.Claire sells solar-powered jackets.
3.Sam volunteers at a local self-help group.
4.Christine gives money to a nonprofit organization.
Question 5
Q.5 __________ holds that delivering unmatched value to customers is the only way to achieve longterm profitability for the organization.
1.The marketing concept
2.Market segmentation
3.Consumer behavior
4.The product strategy
Question 6
Q.6 Rapid improvements in digital technology and the rise in Internet usage over the past 20 years have:
1.shifted the balance of power away from customers and toward producers.
2.decreased the costs of marketing new products and services.
3.increased the costs of distributing new products and services.
4.contributed to a movement away from mass customization and toward demographic marketing
exclusively.
Question 7
Q.7 When Suzanne was shopping for school supplies in the mall, she was approached by a woman with a
clipboard, asking questions about her preference for jeans. Therefore, Suzanne is part of __________
research.
1.secondary
2.unobtrusive
3.survey
4.observation
Question 8
Q.8 __________ is a vital starting point for most marketers.
1.Psychographics
2.Analyticals
3.Demographics
4.Cultural awareness
Question 9
Q.9 Jesse is the marketing manager for a large Midwest-based producer of food products. He is in the
process of developing the __________, which takes into consideration the marketing strategies for
product, price, promotion, and place.
1.competitive mix
2.value chain
3.marketing environment
4.marketing mix
Question 10
Q.10 A well-chosen target market embodies the following characteristics:
1.size, profitability, accessibility, and limited competition.
2.size, limited profitability, accessibility, and competition.
3.limited size, profitability, accessibility, and intense competition.
4.size, profitability, limited accessibility, and intense competition.
Question 11
Q.11 In its broadest sense, __________ refers to an organization’s ongoing efforts to create positive
relationships with its consumers, employees, suppliers, the community, the general public, and the
government.
1.publicity
2.advertising
3.sales promotion
4.public relations
Question 12
Q.12 __________ involves purchasing the right to use another company’s brand name or symbol.
1.Diffusion
2.Exporting
3.Branding
4.Licensing
Question 13
Q.13 A product has three product layers. They are the:
1.implied benefit, explicit benefit, and combined benefit.
2.physical form, intangible form, and perceived form.
3.core benefit, actual product, and augmented product.
4.external layer, internal layer, and environmental layer.
Question 14
Q.14 __________ refers to marketing activities designed to stimulate wholesalers and retailers to push
specific products more aggressively over the short term.
1.Brand equity
2.A pull strategy
3.Publicity
4.Trade promotion
Question 15
Q.15 In which of the following stages of a product’s life cycle would heavy advertising reinforce the
brand positioning strategy?
1.Growth
2.Maturity
3.Decline
4.Introduction
Question 16
Q.16 Sponsorships typically have which of the following characteristics?
1.It is expected they will experience healthy worldwide growth in the next few years.
2.It is the newest form of product promotion.
3.It is one of the least effective promotional channels when it comes to reaching a specific target
market.
4.It is expected that sponsorships will thrive in the U.S. in the next few years at a much faster rate than
in other countries.
Question 17
Q.17 Successful product differentiation requires that the:
1.difference be real rather than merely perceived.
2.marketers put most of their efforts into developing an appropriate brand name.
3.product not only be different from those of competitors but also be better.
4.products have both higher quality and higher cost than those of the competition.
Question 18
Q.18 What do Mary Kay Cosmetics, The Pampered Chef, and Tupperware have in common?
1.They are intensive distribution, nonstore retailers.
2.They are multilevel marketers.
3.They earn the majority of their revenue from direct response marketing.
4.They are a part of the wheel of retailing.
Question 19
Q.19 Many insurance companies utilize __________, while __________ often handle real estate and
seasonal products.
1.merchant wholesalers; retailers
2.agents; brokers
3.retailers; distributors
4.full-service merchants; limited-service merchants
Question 20
Q.20 Fashion trend setters, such as Gucci, who establish one retail outlet in a given area, are utilizing
a(n) __________ distribution strategy.
1.intensive
2.selective
3.exclusive
4.multichannel
Question 21
Q.21 The goal of distribution strategy is to:
1.minimize the number of distributors in the channel of distribution.
2.allocate goods from producers to consumers in the fairest possible way.
3.reconcile conflicts between pricing strategies and promotion strategies.
4.get the right product to the right person at the right place at the right time.
Question 22
Q.22 __________ are marketing intermediaries that sell directly to final consumers.
1.Wholesalers
2.Brokers
3.Truck jobbers
4.Retailers
Question 23
Q.23 A(n) __________ takes legal possession of the goods being distributed.
1.broker
2.agent
3.merchant wholesaler
4.store retailer
Question 24
Q.24 A firm’s distribution strategy is concerned with two key elements:
1.shipping and warehousing.
2.the channel of distribution and physical distribution.
3.pricing strategy and credit standards.
4.facility location and value stream mapping for product flow.
Question 25
Q.25 When comparing the advantages of trucks and rail as modes of transportation, a key advantage of
trucks is that they __________, while an advantage of railroads is that they __________.
1.are less costly; offer the greatest flexibility in handling
2.offer faster and more frequent shipments; offer lower shipping costs
3.offer more flexibility in handling; offer greater dependability
4.are the fastest mode of transportation; are the most readily available mode of transportation

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Business students are often required to gain knowledge in various fields related to marketing and advertising. One such field is the impact of digital technology and the rise of the Internet on businesses. There are several questions related to this area that students need to answer to understand the topic thoroughly.

Description:

This article will provide answers to some multiple-choice questions related to the Introduction to Business work; help students understand the concepts of marketing, advertising, and public relations better. The questions cover various topics related to the impact of digital technology, consumer behavior, target markets, and product development. This article aims to provide students with detailed explanations and insights into each of the questions posted. The headings cover the various areas of inquiry, such as the Marketing Concept, Green Marketing, Observation Research, Target Market, and Public Relations.

Objectives: To understand the impact of changes in digital technology and rise of the internet on businesses, marketing strategies, and consumer behavior.

Learning Outcomes:
1. Explain the outcomes associated with changes in digital technology and the rise of the internet.
2. Understand the concept of value in marketing and its relevance to customers’ belief of a product’s benefits and costs.
3. Discuss the advantages and disadvantages of observation research in market research.
4. Identify examples of green marketing in business activities.
5. Describe the marketing concept and its role in achieving long-term profitability for businesses.
6. Analyze the impact of changes in digital technology and the rise of the internet on marketing strategies.
7. Differentiate between different types of market research, including survey, observation, and secondary research.
8. Discuss the relevance of demographics data in marketing strategies.
9. Define and explain the marketing mix and its components, including product, price, promotion, and place.
10. Identify the characteristics of a well-chosen target market, including size, profitability, accessibility, and competition.
11. Define and explain public relations and its role in creating positive relationships between businesses and various stakeholders.
12. Explain the concept of licensing in marketing and its relevance to brand names and symbols.
13. Analyze the three product layers, including implied benefit, explicit benefit, and combined benefit.

MCQs:

Question 1
Answer: 2. cognitive dissonance.

Question 2
Answer: 2. customer’s belief that a product has a better relationship than its competitors between the cost and the benefits.

Question 3
Answer: 2. yields little or no insight into the motivation behind the observed behavior.

Question 4
Answer: 2. Claire sells solar-powered jackets.

Question 5
Answer: 1. The marketing concept.

Question 6
Answer: 2. decreased the costs of marketing new products and services.

Question 7
Answer: 4. observation.

Question 8
Answer: 3. demographics.

Question 9
Answer: 4. marketing mix.

Question 10
Answer: 1. size, profitability, accessibility, and limited competition.

Question 11
Answer: 4. public relations.

Question 12
Answer: 4. licensing.

Question 13
Answer: 1. implied benefit, explicit benefit, and combined benefit.

Solution 1:

Rapid improvements in digital technology and the rise in Internet usage over the past 20 years have led to a lot of transformations in the business world. These changes have brought about new methods of promotion and communication, mass customization, and a shift in power from producers to consumers. However, there are still a few outcomes that have not been associated with these changes, such as cognitive dissonance.

One possible solution to this issue is through educating consumers. Businesses need to create awareness of the benefits of digital technology and the internet. They need to explain how digital technology and the internet can help them access products and services easily, and how they can customize them to their preference. This will help reduce cognitive dissonance among consumers and increase adoption of digital technology in their daily activities.

Solution 2:

A well-chosen target market is essential for any business that wants to succeed in the market. A good target market should be sizeable, profitable, accessible, and have limited competition.

One possible solution to identifying a good target market is through market segmentation. By dividing the market into smaller segments, businesses can target specific groups of customers with similar needs and preferences. This approach allows businesses to develop tailor-made products and services that meet the specific needs of the target market. This not only increases profitability but also customer satisfaction and loyalty.

Suggested Resources/Books:
– “Marketing 4.0: Moving from Traditional to Digital” by Philip Kotler
– “Principles of Marketing” by Gary Armstrong and Philip Kotler
– “Marketing Analytics: Strategic Models and Metrics” by Stephan Sorger

Similar asked questions:
1. What are the key principles of marketing?
2. How has the rise of digital technology impacted marketing strategies?
3. What is the importance of target market in marketing?
4. What are the different types of market research methods?
5. How can a company effectively implement a green marketing strategy?

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