question

The 4 Ps are A) Price Product Promotion Place B) Price Production Production Packaging C) Promotion Production People Packaging D) promoting Packaging Placement Price E) none of the above

answer

A

question

The 4P's views the marketing mix from the seller's point of view. Buyers view a company's marketing mix as the 4Cs. Which of the following is NOT one of the 4Cs? A) convenience B) Captivation C) Communication D) Customer Cost E) Customer Solution

answer

B

question

A company's marketing mix consists of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. This is also called A) integrated marketing B) Direct marketing C) Competitive marketing D) The promotion mix E) Target marketing

answer

D

question

Successful new product development requires A) Customer- Centered Approach B) Team-Based Effort C) Systematic New product development D) All of the above

answer

D

question

A cash cow is A) a product that shows potential for significant revenue growth B) A product with a high market share, and a high rate of growth C) a product with a low market share and a low rate of growth D) A product with a high market share and a low rate of growth

answer

D

question

A product life cycle A) Shows how a products sales or profits depending on units used, may rise and fall over its life B) tells you how long a product will sell for and make a profit C) is divided into three stages D) shows how profitable a product will be

answer

A

question

Market share tells you A)how well a from is doing B) how much power a firm has in a market C) How many firms there are in a particular market D) how big a market is

answer

B

question

Ideally, good packaging should A) help to market the brand B) protect the contents C) provide convenience and ease of use D) All of the above

answer

D

question

The Boston Matrix is a visual presentation, or model, which A) shows if a product is likely to be a success or not B) allows firms to classify their products according to their market share and the growth C) builds-in of reliability of product D) launches a new product that extends the product range

answer

B

question

The strategic management process is A) a set of activities that will assure a sustainable competitive advantage and above average returns for the firm B) a decision making activity concerned with a firm's internal resources, capabilities and competencies, independent of the conditions in its external environment C) A process directed by top management with input from other stakeholders that seeks to achieve above average returns for investors through effective use of the organization's resources D) the full set of commitments, decisions and actions required for the firm to achieve above average returns and strategic competitiveness

answer

C

question

A firm's mission A) is a statement of a firm's business in which it intends to compete and the specific customers it intends to serve B) is an internally-focused affirmation of the organization's financial, social and ethical goals C) is mainly intended to emotionally inspire employees and other stakeholders D) is developed by a firm before the firm develops its vision

answer

A

question

Which of the following is not a purpose of a marketing plan A) It explains the present and future situations of the organization B) It describes specific actions that are to take place C) It explains how marketing activities are performing compared to other functional areas D) It identifies needed resources

answer

C

question

In the context of marketing landing, why is it vital that the marketing plan be capable of selling itself to top management? A) because top managers are responsible for executing the marketing plan B) because top managers must be able to evaluate the performance of the marketing program C) because top managers must be able to clearly communicate the strategy to external stakeholders D) because top managers must decide whether the marketing plan is the best use for the organization's scarce resources

answer

D

question

One way of looking at ____ is to consider the marketing and financial value associated with a brand's position in the marketplace A) brand equity B) brand identity C) brand equality D) brand value

answer

A

question

Coordinating the flow of all goods, services, and information among channel members, from raw materials to end consumers is referred to as A) Supply chain management B) Distribution Channel C) Strategic planning D) Flow marketing

answer

A

question

Every marketing decision should be based on A) theories B) research C) intuition D) opinions

answer

B

question

Which of the following statements is correct? A) marketing is the term used to refer only to the sales function within a firm B) marketing managers don't usually get involved in production or distribution decisions C) marketing is an activity that considers only the needs of the organizations; not the needs of society as a whole D) Marketing is the activity, set of institutions, and processes for crediting, communicating, delivering and exchanging offerings that have value for customers,clients, partners and society at large

answer

D

question

A marketing philosophy summarized by the phrase "a stronger focus on social and ethical concerns in marketing" is a characteristic of the ________ period. A) production B) sales C) ehtical marketing D) societal marketing

answer

D

question

Which skills and capabilities will marketers need to increasingly have in the 21st century? A) market research B) digital and social media marketing C) strategic marketing D) sales

answer

B

question

In relationship marketing firms focus on _____ relationships with ______. A) short term; customers and suppliers B) short term; customers and suppliers C) short term; customers D) long term; customers

answer

B

question

The term 'marketing mix' describes: A) a composite analysis of all environmental factors inside and outside of the firm B) a series of business decisions that aid in selling a product C) the relationship between a firms marketing strengths and its business weakness D) a blending of strategic elements to satisfy specific target markets

answer

D

question

Newsletters, catalogues, and invitations to organization sponsored events are most closely associated with the marketing mix activity of A) pricing B) distribution C) product development D) promotion

answer

D

question

When customer expectations regarding product quality, service quality and value-based price are met or exceeded, _____ is created. A) customer satisfaction B) planning excellence C) a quality rift D) a value line

answer

A

question

A market orientation recognizes that A) price is the most important variable for customers B) market intelligence relating to current and future customer needs is important C) selling and marketing are essentially the same thing D) sales depend predominantly on an aggressive sales force

answer

B

question

In order for exchange to occur: A) a complex societal system must be involved B) organized marketing activities must also occur C) a profit-oriented organization must be involved D) each party must have something of value to the other party

answer

D

question

Why is market segmentation carried out? A) to break down large markets into smaller markets B) provides an opportunity to surpass competitors C) by grouping together consumers with similar needs, it provides a commercially viable method of serving these customers D) allows the achievement of greater market share

answer

C

question

An example of segmented market would be A) Phillips marketing its product to all residents of the European Union with one marketing mix based on the concept of "Sense and Sensibility" B) high income and low income consumers being treated the same at Marks and Spencer C) a garden nursery seeing residents of urban and rural areas as one market needing trees D) Honda separating its potential customers into economy car buyers and luxury car buyers

answer

D

question

Which of the following are three broad groups of consumer segmentation criteria? A) Behavioral, Psychological and profile criteria B) behavioral, gender and industry type variables C) Organizational size, demographic and behavioral variables D) Psychographic, geographic and demographic variables

answer

D

question

The family life cycle A) is a way to apply psychographic segmentation B) refers to the process of formation and dissolution C) provides insights into the relationships among age, occupation, income and housing D) is composed of the 11 stages of personal growth from infancy to retirement

answer

D

question

Psychographic segmentation is based on A) the quantitative side of consumer demographic analysis B) the quantitative side of consumer geographic analysis C) individual's residential patterns and life cycle preferences D) grouping people according to their activities interests and opinions

answer

D

question

Before beginning the market segmentation process, a firm should A) identify bases for segmenting markets B) forecast total market potential C) forecast market share D) select target market segments

answer

A

question

In marketing, the term product: A) refers only to tangible times that can be seen, tasted or touches B) is a broad concept that refers to anything that can be offered for use and consumption, in exchange for money or some other form of value C) is limited in meaning to goods, services and ideas only D) never refers to such things as package design, brand name or warranty

answer

B

question

This gives added value to products in attempt to augment their products with values and associations that are recognized by and are meaningful to their customers A) promotion B) brand C) product D) price

answer

B

question

The ____ consists of the physical good or delivered service that provides the expected benefit. It consists of many factors, for example the features and capabilities, the durability, design, packaging and brand name. A) core products B) embodied products C) Augmented products D) premium products

answer

B

question

This is the process by which two established brands work together, either on one product or service A) brand awaremeness B) cobranding C) parent brand D) child brand

answer

B

question

A process by which manufacturers and retailers help customers to differentiate between various offering in a market. This is called: A) diffusion B) innovation C) market testing D) branding

answer

D

question

Which of the following is a stage in the new product development process, undertaken when a new product is tested with a sample of customers or is launched in a specified geographical area to judge customers reactions prior to a national launch? A) test marketing B) focused marketing C) live marketing D) generic marketing

answer

C

question

This group, which forms 34% of the market, is more risk-averse and requires reassurance that the offering works and has been proven in the market. This is referred to as: A) innovators B) laggards C) late majority D) early majority

answer

C

question

Which of the following is the rate at which a market adopts to an innovation A) positioning process B) process of differentiation C) diffusion process D) adoption lifecycle

answer

C or D

question

A(n) ____ is a condition in the external environment that if exploited effectively, helps a company achieve strategic competitiveness A) resource B) strength C) opportunity D) trend

answer

C

question

Stakeholders can best be defined as ______. A) any person, company or other institution that has the potential to profit if a company does well, but also the potential to lose if the company does poorly. B) the individuals groups and organizations that are affected by the strategic outcomes achieved and have enforceable claims on a firms performance. C) people responsible for controlling or administering all or part of a company or similar organization D) people or organizations that buy goods or services from a store or business

answer

B

question

Which of the following does NOT describe characteristics of a market A) people or organization B) possession of needs or wants C) having the awareness to buy D) having the ability to buy E) having the willingness to buy

answer

C

question

Staples, impuse and emergency purchases fall under which category of product? A) convenience B) Shopping C) unsought D) homogeneous

answer

A

question

A regularly unsought product, like a gravestone, requires which of the following marketing mix considerations? A) Should be treated as convenience product to reach persons not yet sold on its specialty product status B) need widespread distribution near probable point of need; price sensitivity low C) need enough exposure to facilitate price comparison, price sensitivity high D) requires aggressive promotion, usually personal selling

answer

D

question

Product Mix dimensions include all of the following Except: A) width B) length C) depth D) volume E) consistency

answer

D

question

The number of version offered of each product in the product line is referred to as : A) width B) length C) depth D) volume E) consistency

answer

C

question

Which of the following is NOT one of the 5 dimensions of differentiation? A) product B) brand/ image C) supply chain management D) channel E) services

answer

C

question

What is marketing myopia? A) occurs when sellers pay more attention to specific rodents they offer than the benefits and experiences produced by the products B) occurs when sellers pay more attention to consumer needs and lose sight of consumer wants C) occurs when consumers fail to clearly communicate what they really want D) occurs when consumers do not know what they really want

answer

A

question

What is the best way for companies to gain competitive advantage? A) understand consumer needs better than competitors do and deliver more value B) find points of differentiation that require examining the entire marketing offering C) select a unique selling proposition by deciding how many and which differences to promote D) all of the above

answer

D

question

At this stage of the product life cycle, sales reach its peak, cost of supporting the product declines, sales growth is likely to be low and competition is likely to be high A) growth B) maturity C) saturation D) decline

answer

B

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