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BCOR 360 FINAL EXAM ACTUAL EXAM | ALL QUESTIONS
AND CORRECT ANSWERS | GRADED A+ | LATEST EXAM
2025 | VERIFIED ANSWERS | JUST RELEASED
If demand is normally distributed with mean demand = 12 units/day, your average lead time is 3 days, and your standard deviation of demand during lead time is 7.6, what is your reorder point? Assume your desired CSL is 90%. ---------CORRECT ANSWER----------------- 46 Which of the following is a good reason to carry inventory? --------- CORRECT ANSWER-----------------e. All of the above Carrying too much inventory or the wrong inventory can lead to which of he following? ---------CORRECT ANSWER-----------------f. A, B, & C only Which of the following is not a commonly used metric used to evaluate inventory performance? ---------CORRECT ANSWER-----------------c. Cash- to-cash cycle time Inventory Turnover is defined as Current Inventory/Average Daily Usage. -- -------CORRECT ANSWER-----------------false In an ABC analysis of a firm's SKUs, C items make up 20% of the total SKU count and collectively account for 80% of total usage. --------- CORRECT ANSWER-----------------false
Which of the following is the most effective and productive way to reduce the optimal order quantity (Q)? ---------CORRECT ANSWER-----------------b. Reduce order or set-up costs What is your economic order quantity if the annual demand is 100 units, the order placement cost is $25, and the holding cost per unit per year is $50? ---------CORRECT ANSWER-----------------a. 10 units If annual demand is 24,000 units, and the order quantity is 3,000 units, which of the following accurately describes the decision-making environment? ---------CORRECT ANSWER-----------------a. The annual number of order placements will be 8, and average inventory levels will be 1, If your EOQ is 60 and the associated total cost is G(Q)=$4,200. What will be the total cost if you use an order quantity of 40 (rather than the EOQ)? -- -------CORRECT ANSWER-----------------d. More than $4, "Sandy is a buyer for a museum gift shop. Her organization uses a large amount of gift-wrapping supplies, so she decides to negotiate an agreement with a local maker of these supplies to automatically ship them to the museum once a week. This type of arrangement is called a(n) _____." ---------CORRECT ANSWER-----------------e-procurement process Which of the following products or services are most likely to be high- involvement decisions? Select all that apply. ---------CORRECT ANSWER-- ---------------An automobile An engagement ring
high quality? ---------CORRECT ANSWER-----------------By naming the ingredients used in production Building and maintaining relationships with customers is especially important when _____. ---------CORRECT ANSWER-----------------more and more product choices enter the market The marketing information and research section in a marketing plan does which of the following? ---------CORRECT ANSWER-----------------Discusses key questions that need to be answered and the information needed to answer them "When using Google Sites to create a presentation, the presenter should do which of the following? Select all that apply." ---------CORRECT ANSWER-----------------Ask for feedback from others about how the presentation looks. Test the presentation on both computer screens and smartphones. "True or false: The more successful the plan is, the longer it will take to require a significant revision." ---------CORRECT ANSWER----------------- False "Each action in a marketing plan will generate new _____ regarding what works and what doesn t work, creating opportunities for new analysis and better strategies." ---------CORRECT ANSWER-----------------market data
The marketing plan acts as a mechanism to _____ other functions and to check for alignment. ---------CORRECT ANSWER----------------- communicate with The _____ strategy specifies how a company will get the most benefit from marketing resources and capabilities. ---------CORRECT ANSWER------------ -----marketing "As the marketing planning process grows and develops, only the _____ remain(s) unchanged." ---------CORRECT ANSWER-----------------company mission All of the following would represent an effective marketing objective for a company EXCEPT: ---------CORRECT ANSWER-----------------Developing an exciting and fresh new marketing campaign "True or false: When monitoring a marketing campaign after implementation, it is not imperative for the organization to monitor the entire campaign." ---------CORRECT ANSWER-----------------True "True or false: When determining a budget for a marketing campaign, the marketing team s first consideration should be how much its competitors are spending on marketing." ---------CORRECT ANSWER----------------- False Which of the following is an advantage of using secondary sources for marketing research? Select all that apply. ---------CORRECT ANSWER------ -----------They are considerably less expensive than using primary data.
competition?" ---------CORRECT ANSWER-----------------Refresh its selection of goods on a bimonthly basis "True or false: In some cases, a basic product or service can be positioned differently for different market segments." ---------CORRECT ANSWER------ -----------True "True or false: The repositioning process, including its initial focus, is identical to the positioning process." ---------CORRECT ANSWER------------- ----False "True or false: A catchy, memorable positioning statement will take hold in the minds of consumers; therefore, it might be effective even if it is not credible and convincing." ---------CORRECT ANSWER-----------------False In terms of evaluating market segments, the firm must consider their own company objectives and resources. These include all of the following except: ---------CORRECT ANSWER-----------------Is the segment aligned with our company's operating philosophy? The place that the firm's offering occupies in the mind of the consumer; the sum of all that the consumer thinks and fells about a product, is known as: - --------CORRECT ANSWER-----------------positioning ________________ is measured by studying the activities, interests, and opinions of customers. This approach is widely used as it enables marketers to identify tightly defined market segments and better
understand individual consumer motivations for the selection of products. -- -------CORRECT ANSWER-----------------Psychographic segmentation AND Lifestyle segmentation Depending on company philosophy, resources, product type or marketing characteristics, a business may develop one of two approaches. An undifferentiated approach is often also referred to as: ---------CORRECT ANSWER-----------------Mass Marketing One example of this type of segmentation includes Generation Z, also known as centennials who were born between 1995 and 2015. --------- CORRECT ANSWER-----------------General Segmentation "Of the criteria listed below, which are essential for a market to exist? Select all that apply." ---------CORRECT ANSWER-----------------The person/organization must have the authority to buy the product. "There must be a true need and/or want for the product, service, or idea." The person/organization must have the ability to pay for the product via acceptable means. "For a marketing mix to provide the greatest return on investment (ROI), careful consideration must be given to which of the following items? Select all that apply." ---------CORRECT ANSWER-----------------Product Promotion Price "As the needs, interests, and desires of a market segment change over time, marketing professionals can agree that _____." ---------CORRECT ANSWER-----------------segmentation approaches should change as well
A self-contained planning unit for which discrete business strategies can be developed is known as a _____. ---------CORRECT ANSWER----------------- strategic business unit Which of the following are stages of the product life cycle? Select all that apply. ---------CORRECT ANSWER-----------------Introduction Growth In the _________stage of the product life cycle, the emphasis shifts from drawing in new customers to the market to capturing more of the existing market. The company may extend a product line or add new models that have greater appeal to a smaller segment of the market. ---------CORRECT ANSWER-----------------Maturity Marketers talk about four levels of a product. The physical aspects of the product that can be observed, touched and held are referred to as: --------- CORRECT ANSWER-----------------Tangible Product Existing products targeted at new markets or market segments are called: - --------CORRECT ANSWER-----------------Repositioned products The rate or pattern with which consumers adopt new product is predictable and is called the diffusion of innovation. ---------CORRECT ANSWER--------- --------True
Marketers talk about four levels of a product. The __________ is the long- term result that the customer hopes to achieve by selecting the product. ---- -----CORRECT ANSWER-----------------Promised Product Geographic branding is used frequently to attract commerce and economic investment, tourism and new residents to a particular area. --------- CORRECT ANSWER-----------------True A good brand name should ______. Select all that apply. ---------CORRECT ANSWER-----------------be legally available for use and unique among competition realize the functions of sales promotion and persuasion What are the primary functions of a brand? Select all that apply. --------- CORRECT ANSWER-----------------To identify a product To distinguish a product from those of competitors True or false: A brand that is inconsistent will fail to make a lasting impression because it is difficult for customers to trust it or register what the brand represents. ---------CORRECT ANSWER-----------------True A _____ constitutes a branding strategy. Select all that apply. --------- CORRECT ANSWER-----------------brand mark brand name "_____ influences that impact the consumer s problem-solving process relate to the consumer s learning and socialization, motivation and personality, and lifestyle." ---------CORRECT ANSWER-----------------internal
Gain or take market share from the competition Provide an inducement to switch brands Provide an incentive to buy more T/F: One of the key benefits of advertising is that it allows marketers to repeat a message at regular intervals, which increases the audience's ability to recall and remember the product. ---------CORRECT ANSWER----- ------------True In digital content marketing, ____________, common in B2B applications, requires users to complete contact information or a lead qualification form. Common examples are research reports or whitepapers, ---------CORRECT ANSWER-----------------Gated Access What is one of the biggest disadvantages of digital marketing? --------- CORRECT ANSWER-----------------It requires the firm to be vigilant and monitor the digital world 24/7 to make sure that customer feedback/ complaints are handled quickly. ______ is best described as a non-personalized form of paid IMC messaging by a clearly identified brand or sponsor. ---------CORRECT ANSWER-----------------Advertising T/F: the "sender and receiver" model of communication, created by Shannon-Weaver is less effective for person-to-person communication than group or mass communication. ---------CORRECT ANSWER----------------- False
In this stage of the personal selling process, the sales representative introduces themselves and offers "small talk" to warm up the prospect and help them open up. ---------CORRECT ANSWER-----------------Approach The most important factor in the IMC strategy is to _____. --------- CORRECT ANSWER-----------------determine the target audience "Unlike sales promotions techniques, the goals of trade promotions techniques include which of the following? Select all that apply." --------- CORRECT ANSWER-----------------Expanding or improving distribution Developing in-store merchandizing support True or false: Qualifying a lead involves confirming that the lead actually has a recognized need for the offering and the ability to pay for it. --------- CORRECT ANSWER-----------------True The key to effective direct marketing activity depends on the use of _____. ---------CORRECT ANSWER-----------------databases The number and variety of marketing communication tools have proliferated with the expansion of all of the following EXCEPT: --------- CORRECT ANSWER-----------------print media True or false: It is always easier to communicate effectively when moving against the current consumer demand than with it. ---------CORRECT ANSWER-----------------False
Why is it often difficult for marketers to succeed by using the profit-oriented pricing strategy? ---------CORRECT ANSWER-----------------Because it limits flexibility The competitive bid process includes which of the following steps? Select all that apply. ---------CORRECT ANSWER-----------------Negotiating terms Requesting proposals from multiple vendors Evaluating the proposals by comparing them "True or false: Charging more for a product than competitors do can be a good strategy, provided the objectives of the pricing policy are clearly understood." ---------CORRECT ANSWER-----------------True _____ is/are used to encourage middlemen to aggressively promote the organization s products. ---------CORRECT ANSWER-----------------Personal Allowances True or false: Price is the most difficult element of the marketing mix for competitors to copy. ---------CORRECT ANSWER-----------------False Marketing channels provide what key functions or utility? ---------CORRECT ANSWER-----------------Time, place and ownership Of all the marketing decisions, the one decision that has the most direct effect on the bottom line is ______________. ---------CORRECT ANSWER- ----------------Pricing
Looking back at channel structure over time; historically ___________ marked the beginning of formal channels of distribution. ---------CORRECT ANSWER-----------------Exchange process or barter T/F: Distribution channels create efficiencies by reducing the number of transactions necessary for goods to flow from many different manufacturers to large numbers of customers. ---------CORRECT ANSWER----------------- True If a firm wishes to maximize profits, which of the following is true with respect to setting prices? ---------CORRECT ANSWER-----------------Set prices higher but attract a less price sensitive segment of the market A more accurate description of the "place" element of the marketing mix is: ---------CORRECT ANSWER-----------------Distribution What is the first task for the marketer in determining a pricing policy? --------
- CORRECT ANSWER-----------------Set pricing objectives "True or false: Today, most large organizations have supply chain functions spread across different divisions, where they are performed independently and do not interact." ---------CORRECT ANSWER-----------------False True or false: Incentives extended to a sales employee in a retail setting can take the form of either a direct commission on sales or a less direct financial or benefits bonus for the store meeting its goals. --------- CORRECT ANSWER-----------------True
workplace to management positions? Which of the following is not correct? ---------CORRECT ANSWER-----------------ALL BELOW ARE CORRECT It will send a message that business results are more important than ethics. It is important that the firm communicate that honesty and integrity are key traits expected of promotable employees. They will likely encourage their employees to achieve business results at any cost. "Full-Fat Tater Chips is a brand known for its delicious but not particularly healthy snack foods. The marketing department notices that many other brands are using environmental causes as a means of exercising social responsibility and also posing their products as socially responsible. They decide to follow suit, and Full-Fat begins a widespread marketing campaign focusing on the fact that the material used to make the packaging for the products is and always has been recycled and recyclable. In doing this, Full-Fat is being socially responsible by addressing a risk that its company brings to its market." ---------CORRECT ANSWER-----------------False Why does the use of search data in customizing advertisements present an ethical issue in marketing? ---------CORRECT ANSWER-----------------It raises questions concerning the privacy of data that is being accessed and stored. "The American Marketing Association s Statement of Ethics defines values as the collective conception of what communities find desirable, important, and morally proper." ---------CORRECT ANSWER-----------------True According to the ethics model developed by Archie Carroll, the most basic level of the pyramid is: ---------CORRECT ANSWER-----------------Be profitable
Firms will choose different entry strategies into the global marketplace depending on the several factors. Which is NOT one of them? --------- CORRECT ANSWER-----------------The ability of the firms executives to speak the native language All of the following are examples of ethics issues in business EXCEPT: ----- ----CORRECT ANSWER-----------------ALL BELOW ARE CORRECT Purchasing and suppliers Gifts and entertainment Relationships with customers Fair competition This firm provides an excellent example of the international marketing strategy to create new products or modify existing products for international markets while keeping their messages largely the same. ---------CORRECT ANSWER-----------------McDonalds This type of global market entry strategy is particularly useful in those markets where the culture, both business and social, is substantively different than your own as local partners bring local market knowledge and contacts. ---------CORRECT ANSWER-----------------Partnerships The first step organizations undertake when implementing corporate social responsibility is: ---------CORRECT ANSWER-----------------Identify the focus of the program When evaluating global markets, firms must consider the country's _______________, the structure and dynamics of individuals and groups
