MKT 320 Old Exam- dan – Flashcards
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As discussed in class, which officer in the company is frequently described as the Chief Marketing Officer?
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The CEO
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The major problem with observation research is:
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it tells what people are doing, but not why they are doing it.
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As discussed in class, the objective of the marketing information system is to:
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reduce decision risk.
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(p. 17) Which of the following is MOST LIKELY to be found in a production-oriented firm?
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A. Agreements among departments about how to improve customer satisfaction. B. Making products that are easy to produce.(CORRECT) C. Producing goods that exactly meet the customer's needs. D. A focus on profit rather than sales.
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(p. 43) Which of the following statements about customer equity is FALSE?
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A. Expected losses depend on customer equity. B. If the parts of a firm's marketing program work well together, it should increase the firm's customer equity. C. Expected profits depend on customer equity. D. If a firm has more than one marketing strategy, it will likely decrease the firm's customer equity. (CORRECT ANSWER)
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(p. 211) One of the major disadvantages of the focus group interview approach is that
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it is difficult to measure the results objectively.
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(p. 207) When a marketing manager scans a firm's MIS to try to obtain information about why the firm's product sales are down, this is an example of a(n):
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situation analysis.
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(p. 50) When Colgate encourages its current customers to brush more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing?
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Market penetration
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(p. 66) Competitive barriers
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may make it difficult for a firm to compete in a market.
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(p. 215) Joy Rinaldo has agreed to participate in marketing research in which she will provide information about her purchases on an ongoing basis. She is probably part of a:
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consumer panel.
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General Electric's strategic planning grid focuses on:
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industry attractiveness and business strengths.
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(p. 63) Regarding the competitive environment, a marketing manager usually can:
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choose strategies to avoid head-on competition.
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As discussed in class, a strategic or key business unit:
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A. is treated as a separate profit center. B. has a defined set of competitors. C. has its own mission statement. D. Two of the above. E. Three of the above. (Correct)
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(p. 6) Marketing encourages research and _______________, the development and spread of new ideas, goods and services.
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innovation
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(p. 48) Differentiation of a firm's marketing mix:
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May provide the firm with a competitive advantage in the marketplace.
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(p. 59) According to the text, which of the following is NOT a basic guideline for setting a firm's objectives?
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Identifying its current and prospective competitors.
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(p. 8) Societies need a macro-marketing system
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to help match supply and demand.
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(p. 209) Which of the following is probably NOT a part of a situation analysis?
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A computer company asks ten lawyers to participate in a focus group on how they use computers.
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(p. 70) Which of the following statements about the technological environment is NOT TRUE?
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The transfer of technology from one part of the world to another is automatic.
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24. Which of the following statements are true?
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A. Copyrights protect ideas once they have been reduced to a tangible form. B. Copyrights do not protect the idea themselves, only the expressions of the idea. C. A copyright is for the life of the author , plus 50 years. D. Two of the above. E. All of the above. (Correct)
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. (p. 208) All of the following are examples of secondary data sources EXCEPT:
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a phone survey this month of past customers.
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(p. 7) Effective marketing should begin with
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potential customer needs.
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As discussed in class, which of the following are defenses to the Robinson-Patman Act?
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A. Cost justification. B. Changing market conditions. C. Distinct markets. D. Two of the above. E. Three of the above. (CORRECT)
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As discussed in class, if everyone in a population is questioned, the analyst has performed a:
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A. population study. B. population - census study. C. census. D. stratified population study. E. Two of the above. ACCEPTING B, C & E AS CORRECT
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(p. 6) The text stresses that:
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marketing is a social process and a set of activities performed by organizations.
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As discussed in class, a marketing plan that involves "present markets" and "new products" is called:
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product development.
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(p. 74) Which of the following U.S. antimonopoly laws deals with conspiracy to fix prices?
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Sherman Act (1890)
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As discussed in class, it is important to study marketing because:
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many people work as marketing executives in volunteer or regularly paid positions for non-profit organizations.
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As discussed in class, Henry Ford understood that customers wanted to purchase:
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inexpensive transportation.
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As discussed in class, the FTC cooling off rule states that:
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a product or service costing $25 or more that is purchased from a door-to-door salesperson may be cancelled in 72 hours with the buyer receiving a full refund.
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(p. 64) In monopolistic competition,
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each competitor tries to get control in its "own" target market.
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As discussed in class, the modern definition of value is:
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quality, plus convenience, plus service, plus experience, plus innovation, divided by price.
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(p. 205) The scientific method
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is an orderly and objective approach to judging how good an idea really is.
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(p. 61) Company objectives
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guide managers as they search for and evaluate opportunities.
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Trademarks last:
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forever.
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(p. 15) The text considers five "eras" of marketing evolution. Which of the following shows the logical order in which these eras occur?
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Simple trade, production, sales, marketing department, marketing company
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(p. 10) The buying function of marketing involves
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looking for and evaluating goods and services.
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(p. 38) ______ refers to personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase.
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Customer service
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(p. 12) An economic system in which government planners determine production levels is known as
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a command economic system.
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(p. 33) Marketing strategies
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are not whole-company plans.
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(p. 69) The _____ refers to how much one country's money is worth in another country's money.
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exchange rate
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(p. 202) An outside sales force can provide customers with up-to-date inventory levels, product prices, delivery dates, and so forth by accessing information on the firm's own:
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A. marketing model. B. marketing dashboard. C. intranet. D. JIT system. E. EDI system. ACCEPTING B & C AS CORRECT
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(p. 36) A "channel of distribution":
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is any series of firms (or individuals) from producer to final user or consumer.
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(p. 9) The primary purpose of the transporting and storing functions of marketing is to overcome:
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spatial separation.
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(p. 213) Which variation of personal interview surveys helps reduce the cost of locating consumer respondents?
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Mall intercept interviews
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(p. 200) Marketing research:
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is needed to keep marketing managers in touch with their markets.
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