MKT 331 Exam 1
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Marketing
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B. provides direction for production
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_____ Not the government's job in a market-directed economy
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D. determining what and how much is to be produced is
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The total system view of the marketing concept builds on the idea that
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D. all departments-not just marketing-should be guided by customer needs
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According to the concept of social responsibility, a firm has a duty to:
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E. conduct business in a way that is good for society as a whole, both now and for the future.
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The fact that many Americans want the convenience of driving gas-guzzling trucks and sport utility vehicles-which also contribute disproportionately to pollution and global warming-is an example of
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A. the micro-macro dilemma
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\"Product\" is concerned with:
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E. All of these might be involved with Product
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A firm's decisions regarding channel type, market exposure and kinds of intermediaries would fall under the marketing mix variable of
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B. Place
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\"Promotion\" is NOT concerned with:
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B. designing new products
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When Ford Motor Co. introduced its Escape hybrid SUV, it offered a $1,000 rebate as an incentive to attract new buyers. This was an example of which aspect of the marketing mix?
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A. Price
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The text's \"Toddler University\" example shows that:
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B. the needs of a target market determine the nature of the appropriate marketing mix.
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The segmenting step of the segmentation process
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E. looks for similarities in needs.
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Which of the following criteria should a marketing manager use when segmenting a broad productmarket?
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D. All of these criteria would be useful
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Which of the following statements about market-oriented strategy planning is true?
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B. Both \"segmenters\" and \"combiners\" can be target marketers.
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Which of the following would be a determining dimension for a customer who needs to buy a marketing textbook for school?
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B. Status as college student
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In the seven-step approach to market segmentation
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E. All of these are true
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Which of the following statements accurately describes the collaboration between marketing managers and market researchers?
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A. Marketers explain real marketing problems and request information from researchers; Researchers conduct tests that provide information to marketers.
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A good place for a marketing analyst to START looking for published statistical data os the:
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D. Statistical Abstract of the United States
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The two basic methods for obtaining primary information about customers are
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B. questioning and observing.
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When focus group interviews are used on marketing,
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D. the research conclusions will vary depending on who watches the interview whether online if offline.
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By computing confidence intervals a researcher can:
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C. estimate how precise her research results are likely to be.
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Discretionary income is the portion of a person's income that pays for:
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C. luxuries
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An economic buyer is a person who
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A. logically compares choices to get the greatest satisfaction from spending time and money.
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_____ are concerned with making the best use of a consumer's time and money-as the consumer judges it.
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A. Economic needs
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_____ is one of the psychological variables that affects a person's buying behavior
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A. Perception
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Which of the following is not a selective process used in gathering and interpreting information from the world around us?
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D. Selective attention
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The basic objective of the U.S. market-directed economic system is to:
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B. satisfy consumer needs as they--the consumers--see them
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MACRO-marketing:
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A. is probably best evaluated by how individual consumer-citizens vote
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_____ is an economical way to inform large numbers of potential customer about a firm's products.
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C. Advertising
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_____ is one of the most criticized of all marketing activities
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B. Advertising
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Which of the 4Ps in the marketing mix is most directly related to the publicity for a B2B campaign?
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C. Promotion
