SOM 122 Marketing Questions – Flashcards

The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following marketing eras? A. Production era B. Selling era C. Marketing era D. Customer relationship era

The __________ is based on three elements: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation. A. mercantile philosophy B. hierarchy of needs C. relationship approach to marketing D. marketing concept

According to the _________ concept, a firm must (1) find out what customers want and provide it, (2) make sure everyone in the organization has customer satisfaction as an objective, and (3) provide goods and services that will earn a profit. A. stakeholder relationship B. consumerism C. marketing D. demand-side

A firm's marketing mix refers to the combination of: A. goods the firm offers to different market segments. B. advertising media the firm utilizes to promote its products. C. strategies regarding product, price, place, and promotion. D. people directly involved in making marketing decisions.

Which of the following is part of the marketing process? A. Developing an understanding of company finances available for new products B. Determining an appropriate brand name for a new product C. Designing the most efficient method of production of a new product D. Contacting suppliers after a purchase to ensure producer satisfaction

Successful marketing researchers: A. focus their efforts on determining historical needs of customers, since the core value of marketing is that the customer needs don't change. B. develop as much information as possible from primary sources. C. listen to customers and other stakeholders. D. rely on their experience and personal opinions when making decisions.

A widely used technique commonly used for collecting primary data is: A. collecting relevant articles in trade journals. B. benchmarking. C. conducting a survey. D. reviewing government reports

Which of the following is considered a step in the marketing research process? A. Designing a product to meet the need based on research B. Defining the question and determining the present situation C. Planning for product modifications and test advertising D. Setting the price for a product

A firm that uses __________ segmentation divides a market into groups based on values, attitudes, or interests. A. demographic B. benefit C. psychographic D. normative

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? A. Micro targeting B. Narrowcast marketing C. Focused marketing D. Niche marketing

A ________ marketing strategy develops products and promotions designed to please large groups of people. A. volume B. mass C. relationship D. value

The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements. A. niche marketing B. mass marketing C. relationship marketing D. segment marketing

. Understanding consumers in marketing is considered so important that a whole area of marketing called _____________________ emerged. A. customer programming B. consumer behavior C. individual benchmarking D. customers competency

A consumer's decision-making process is influenced by his/her _________, consisting of those people who help shape the consumer's beliefs, attitudes, values or behavior. A. reference group B. focus group C. target audience D. social class

Susan purchased an expensive new automobile four months ago after struggling to choose between a Cadillac and a Rolls Mobile. Even now, after purchasing the Rolls Mobile, she wonders if she made the right choice. Susan is experiencing: A. customer validation. B. consumer resonance. C. conscious regression. D. cognitive dissonance.