Marketing 350 Practice questions – Flashcards

1. Firms that take voluntary actions to address the ethical, social, and environmental impacts of its business operations are involved in A. a SWOT analysis. B. unethical business practices. C. strategic planning. D. corporate social responsibility. E. covert operations.

2. A firm whose employees act in an ethical manner, and which is concerned with only its closest stakeholders is considered to be A. ethical but socially irresponsible. B. ethical and socially responsible. C. unethical but socially responsible. D. unethical and socially irresponsible. E. neither ethical nor socially responsible.

3. Companies must deliver more value and satisfaction to target consumers than its competitors to gain a A. competitive advantage. B. competitor analysis. C. competitive benchmark. D. competitor-centered advantage. E. competitive franchise.

4. Which of the following represents the three major phases of a marketing plan? A. Assessment, action, adjustment B. Planning, implementation, control C. Strategy, execution, regulation D. Design, apply, manage E. Forecasting, application, management

5. When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which of the following steps of the marketing planning process? A. Defining the mission. B. Conducting a situation analysis. C. Identifying and evaluating opportunities. D. Implementing the marketing mix. E. Evaluating performance.

6. A SWOT analysis involves an analysis of factors internal to the company, which include _____ as well as factors outside the company, which include _____. A. opportunities and threats; strengths and weaknesses B. strengths and weaknesses; opinions and thoughts C. substantial winnings; opportunities and threats D. strengths and weaknesses; opportunities and threats E. strategic worldview; options and tactics

7. Through which of the following marketing mix variables do companies capture value from consumers, resulting in the generation of revenue? A. Product B. Price C. Promotion D. People E. Place

8. When marketers make their offering available when and where the customer wants it, which of the following elements of the marketing mix is involved? A. Product B. Price C. Promotion D. People E. Place

9. A _______ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future. A. benchmark B. target C. metric D. segment E. scale

10. When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in _____ marketing. A. C2B B. C2C C. B2B D. B2C E. A2B

11. The _____ era embraced the belief that a good product would sell itself. A. sales-oriented B. production-oriented C. value-based D. consumer-demand E. market-oriented

12. Crest toothpaste targets different consumer _____ by offering different types of toothpaste for smokers than it does for children based on their differing needs and wants. A. segments B. geographics C. fragments D. modules E. exchanges

13. Which of the following entities is at the center of the marketing environment? A. The company itself B. Corporate partners C. Competitors D. Consumers E. Culture

14. Which of the following frameworks for analysis is comprised of a company's capabilities, competitors and corporate partners? A. Economic factors B. Environmental factors C. Immediate environment D. Intermediate environment E. Macroenvironmental factors