Question 1

Students use mobile applications primarily for educational purposes.

Accepted Answer

A) True 
 B)False

Question 2

One of the reasons Starbucks is successful at content marketing is that its campaigns are community focused.

Accepted Answer

A) True 
 B)False

Question 3

Which short-term pricing approach did Facebook (owner of Oculus)follow when the company first sold the Oculus Rift?

Accepted Answer

A) penetration 
B) skimming 
C) cost-based 
D) demand-based 
A) penetration 
B) skimming 
C) cost-based 
D) demand-based

Question 4

A company using dynamic pricing considers only two factors: consumer demand and alternative products.

Accepted Answer

A) True 
 B)False

Question 5

Big Data is primarily used to determine if a company has made a profit.

Accepted Answer

A) True 
 B)False

Question 6

Why would Mark Zuckerberg (CEO of Facebook)pay $3 billion for Oculus?

Accepted Answer

A) The Oculus Rift competes with Facebook product/services 
B) Because Facebook had plenty of cash and could spend it 
C) Zuckerberg believed virtual reality is the future and was "awesome" 
D) Facebook's users were getting older and he was looking for the next big thing 
A) The Oculus Rift competes with Facebook product/services 
B) Because Facebook had plenty of cash and could spend it 
C) Zuckerberg believed virtual reality is the future and was "awesome" 
D) Facebook's users were getting older and he was looking for the next big thing

Question 7

An empty hotel room brings in no revenue.Then why wouldn't a hotel manager at a luxury hotel or resort offer a very low,last-minute rate for an unfilled room?

Accepted Answer

A) it would reduce the manager's bonus which is based on total revenue 
B) it would result in a price war with similar hotels or resorts 
C) it is likely the person getting the discount rate will cancel 
D) to avoid "cheapening" the reputation of the luxury hotel 
A) it would reduce the manager's bonus which is based on total revenue 
B) it would result in a price war with similar hotels or resorts 
C) it is likely the person getting the discount rate will cancel 
D) to avoid "cheapening" the reputation of the luxury hotel

Question 8

The desire for connectivity by college students requires companies to focus on which of the following product characteristics?

Accepted Answer

A) It has been around for more than ten years 
B) Product can connect to a student's smart phone or tablet 
C) product is innovative 
D) product is similar to competitor's products 
A) It has been around for more than ten years 
B) Product can connect to a student's smart phone or tablet 
C) product is innovative 
D) product is similar to competitor's products

Question 9

After Facebook purchased Oculus (and Palmer Luckey was no longer connected with the product)the Oculus team decided to use penetration pricing.

Accepted Answer

A) True 
 B)False

Question 10

More than half of all adults in the U.S.have not shopped online.

Accepted Answer

A) True 
 B)False

Question 11

The term "Big Data" describes very large collections of data that are analyzed by computers to reveal useful consumer information.

Accepted Answer

A) True 
 B)False

Question 12

It is no longer true that products must fill an unmet customer need.

Accepted Answer

A) True 
 B)False

Question 13

Should you be concerned about data security- In a recent survey _______ Americans reported that they do not trust businesses with their personal information online.

Accepted Answer

A) more than 75% 
B) less than 30% 
C) approximately 45% 
D) approximately 60% 
A) more than 75% 
B) less than 30% 
C) approximately 45% 
D) approximately 60%

Question 14

The practice of using dynamic pricing was started in the 1980’s by American Airlines as an effort to compete with a now out-of-business discounter airline, People’s Express.  Dynamic pricing then moved to other industries, including hotels and car rental companies, but only became popular when e-commerce arrived.  
You are a consultant to a number of different organizations that use dynamic pricing, including American Airlines, St. Louis Cardinals, Coca Cola, and Marriott International. You are advising your clients of the use of dynamic pricing.  Here are some questions that they have raised:
-What is dynamic pricing?

Accepted Answer

A) A pricing approach that uses analytics software to improve demand forecasting 
B) A pricing approach in which the price of an item changes based on the demographics of individual customers 
C) A pricing approach that adjusts prices based solely on fluctuations in competitor's prices 
D) A pricing approach where the price of an item changes frequently based on complex algorithms 
A) A pricing approach that uses analytics software to improve demand forecasting 
B) A pricing approach in which the price of an item changes based on the demographics of individual customers 
C) A pricing approach that adjusts prices based solely on fluctuations in competitor's prices 
D) A pricing approach where the price of an item changes frequently based on complex algorithms

Question 15

A revenue optimization system can set a "hurdle" rate - a rate above which the hotel will not price the room.

Accepted Answer

A) True 
 B)False

Question 16

Personal information supplied by members of OKCupids,a free online dating site,was protected from release by a privacy agreement between the organization and its members.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is not a reason for advertising online?

Accepted Answer

A) 90% of young adults (ages 18 to 29)engage in social media (which places them online). 
B) The average consumer spends more time online than watching TV and reading print media combined. 
C) Companies can collect personal information from those using their websites and possibly sell this information to others 
D) By capturing information on customers shopping online,marketers can send relevant ads that match a customer's shopping habits. 
A) 90% of young adults (ages 18 to 29)engage in social media (which places them online). 
B) The average consumer spends more time online than watching TV and reading print media combined. 
C) Companies can collect personal information from those using their websites and possibly sell this information to others 
D) By capturing information on customers shopping online,marketers can send relevant ads that match a customer's shopping habits.

Question 18

Which of following statements about RFID (radio-frequency identification)tags is false?

Accepted Answer

A) The popularity of RFID has increased 
B) An RFID tag attached to a product can be used to trace the product 
C) The use of RFID tags increase supply chain member's costs 
D) RFID tags can capture data giving managers real-time,up-to-date information 
A) The popularity of RFID has increased 
B) An RFID tag attached to a product can be used to trace the product 
C) The use of RFID tags increase supply chain member's costs 
D) RFID tags can capture data giving managers real-time,up-to-date information

Question 19

Which statement about content marketing is false?

Accepted Answer

A) If you write a blog as part of a content marketing campaign,you can be sure it will be read. 
B) Many of the most popular content marketing strategies are usually fairly inexpensive relative to product marketing strategies 
C) Content marketing campaigns can create lasting value 
D) content marketing builds brand awareness and fosters strong relationships with customers 
A) If you write a blog as part of a content marketing campaign,you can be sure it will be read. 
B) Many of the most popular content marketing strategies are usually fairly inexpensive relative to product marketing strategies 
C) Content marketing campaigns can create lasting value 
D) content marketing builds brand awareness and fosters strong relationships with customers

Question 20

Which pricing approach calculates the amount that can be spent to make a product by determining how much consumers are willing to pay and then subtracting a reasonable profit?

Accepted Answer

A) skimming 
B) cost-based pricing 
C) target costing 
D) demand-based pricing 
A) skimming 
B) cost-based pricing 
C) target costing 
D) demand-based pricing

Students use mobile applications primarily for educational purposes.

One of the reasons Starbucks is successful at content marketing is that its campaigns are community focused.

Which short-term pricing approach did Facebook (owner of Oculus)follow when the company first sold the Oculus Rift?

A company using dynamic pricing considers only two factors: consumer demand and alternative products.

Big Data is primarily used to determine if a company has made a profit.

Why would Mark Zuckerberg (CEO of Facebook)pay $3 billion for Oculus?

An empty hotel room brings in no revenue.Then why wouldn't a hotel manager at a luxury hotel or resort offer a very low,last-minute rate for an unfilled room?

The desire for connectivity by college students requires companies to focus on which of the following product characteristics?

After Facebook purchased Oculus (and Palmer Luckey was no longer connected with the product)the Oculus team decided to use penetration pricing.

More than half of all adults in the U.S.have not shopped online.

The term "Big Data" describes very large collections of data that are analyzed by computers to reveal useful consumer information.

It is no longer true that products must fill an unmet customer need.

Should you be concerned about data security- In a recent survey _______ Americans reported that they do not trust businesses with their personal information online.

A revenue optimization system can set a "hurdle" rate - a rate above which the hotel will not price the room.

Personal information supplied by members of OKCupids,a free online dating site,was protected from release by a privacy agreement between the organization and its members.

Which of the following is not a reason for advertising online?

Which of following statements about RFID (radio-frequency identification)tags is false?

Which statement about content marketing is false?

Which pricing approach calculates the amount that can be spent to make a product by determining how much consumers are willing to pay and then subtracting a reasonable profit?

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters

Exam 11: Operating in a Digital Marketing and Social Networking

Students use mobile applications primarily for educational purposes.

One of the reasons Starbucks is successful at content marketing is that its campaigns are community focused.

Which short-term pricing approach did Facebook (owner of Oculus)follow when the company first sold the Oculus Rift?

A company using dynamic pricing considers only two factors: consumer demand and alternative products.

Big Data is primarily used to determine if a company has made a profit.

Why would Mark Zuckerberg (CEO of Facebook)pay $3 billion for Oculus?

An empty hotel room brings in no revenue.Then why wouldn't a hotel manager at a luxury hotel or resort offer a very low,last-minute rate for an unfilled room?

The desire for connectivity by college students requires companies to focus on which of the following product characteristics?

After Facebook purchased Oculus (and Palmer Luckey was no longer connected with the product)the Oculus team decided to use penetration pricing.

More than half of all adults in the U.S.have not shopped online.

The term "Big Data" describes very large collections of data that are analyzed by computers to reveal useful consumer information.

It is no longer true that products must fill an unmet customer need.

Should you be concerned about data security- In a recent survey _______ Americans reported that they do not trust businesses with their personal information online.

A revenue optimization system can set a "hurdle" rate - a rate above which the hotel will not price the room.

Personal information supplied by members of OKCupids,a free online dating site,was protected from release by a privacy agreement between the organization and its members.

Which of the following is not a reason for advertising online?

Which of following statements about RFID (radio-frequency identification)tags is false?

Which statement about content marketing is false?

Which pricing approach calculates the amount that can be spent to make a product by determining how much consumers are willing to pay and then subtracting a reasonable profit?

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters