BUSB 340 – Week 2 Quiz – Understanding Buyers and Markets

The University of Redlands offers an outstanding business school education. Cali pays the tuition to attend the school and earns her MBA with an emphasis in Marketing. Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange?

A local pet supplies boutique had a good year with rising revenues and reduced operating costs that resulted in the owner receiving personal income of approximately $100,000. One-third of that was taken for local, state, and federal income taxes and another third went to pay for a home mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?

TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following groups of people would be the MOST LIKELY target market for TUMI brand briefcases?

Which of the following is an example of possession utility?

__________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races are referred to as __________ marketing programs. For example, advertising agency Alma created an ad to appeal to McDonald’s Hispanic audience.

Which of the following statements accurately distinguishes between laws and ethics? __________

__________ is a moral philosophy that that considers individual rights or duties as universal, regardless of the outcome. For example, consumers’ safety should always come first.