MKTG Test Review 1-5

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Your firm’s marketing campaign appeals to consumers’ desires to own an automobile that will impress others. Your marketing campaign appeals to consumers’:
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Wants
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Wants
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are shaped by society and described in terms of objects that will satisfy needs.
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Which of the following is most essential to any definition of marketing? 1. Demand management 2. The production concept 3. Customer relationships 4. Making a sale 5. Making a profit
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3. Customer relationships
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Your company offers free maintenance and repair for the first 2 years after the purchase of a bicycle. Therefore, along with the physical product, you offer an attractive package of: 1. Values 2. Ideas 3. Events 4. Services
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4. Services
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Services
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are intangible activities or benefits that do not result in the ownership of anything. Services are often part of a market offering that includes a physical good.
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Kodak continued to focus on manufacturing traditional film-based cameras long after competitors introduced digital models. Kodak suffered from: 1. Marketing myopia 2. Poor partner relationship management 3. Outside-in perspective 4. Customer drive strategy
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1. Marketing myopia (Kodak ignored customers’ desire for digitized photos that could be printed at home or shared over the internet)
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The ______ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors. A) product B) production C) selling D) equity E) marketing
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E) marketing
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Which of the following marketing management concepts is most likely to lead to marketing myopia: 1. Customer-driven marketing 2. Customer-driving marketing 3. Societal marketing 4. Selling 5. Product
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5. Product
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The act of obtaining a desired object from someone by offering something in return is known as: 1. Exchange 2. Marketing 3. Production 4. Promotion
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1. Exchange
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You favor an approach that emphasizes the quality and new features of your product while your associate prefers to emphasize innovative promotion strategies. Which two marketing concepts are being exhibited? 1. Marketing and selling 2. Production and societal marketing 3. Product and marketing 4. Product and selling
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4. Product and selling
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What does the product concept focus on? Selling concept?
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Product concept emphasizes product quality, performance, and innovative features. The selling concept focuses on creating sales transactions.
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To save on labor and production costs, you build a factory in Vietnam. However, you provide benefits to the Vietnamese workers comparable to those Americans receive, thus practicing the _____ concept. 1. Production 2. Product 3. Marketing 4. Societal marketing
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4. Societal marketing (Under the societal marketing concept, marketing strategy delivers value to customers that maintains or improves both the consumer’s and the society’s well-being.)
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You’ve developed a product for consumers and priced it at a level they are willing to pay. You’ve established the stores where consumers can purchase your product and launched an advertising campaign to let consumers know about the product. Collectively, these four elements are known as the: 1. Marketing mix 2. Product mix 3. Marketing concept 4. Value proposition
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1. Marketing mix
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Marketing mix
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Consists of the four Ps: Product Price Place Promotion
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Your kitchen appliance firm keeps a database of those who send in their warranty cards. Customers receive quarterly newsletters, special discounts, and access to a password protected cooking-related Web site. Your firm is engaging in: 1. Caring capitalism 2. Customer Relationship Management 3. Partner Relationship Management 4. Not-for-profit marketing
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2. Customer Relationship Management
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Customer Relationship Management
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deals with all aspects of acquiring, keeping, and growing customers. Example: The newsletter and Web site help retain customers, while discounts help to grow the the business.
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During the economic downturn, marketers have been emphasizing the ____ of their products more than ever. 1. Image 2. Value 3. Personality 4. Safety 5. Uniqueness
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2. Value
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In the new digital age, the most important technology for connecting is: 1. The Internet 2. The database 3. The laptop computer 4. The fiber optic telephone
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1. The Internet (The Internet allows anytime, anywhere connections to information, entertainment, and communications.)
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_____ is the task of developing and maintaining an overall company strategy for long-run survival and growth. 1. Strategic planning 2. Annual marketing planning 3. Short-term planning 4. Long-range planning 5. Advertising
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1. Strategic planning
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As a company’s different functions work to produce value for consumers, the marketing department of a firm should take the ____ point of view. 1. Employees’ 2. Managers’ 3. Stockholders’ 4. Consumers’ 5. Distributors’
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4. Consumers’
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Marketing planning takes place at the: 1. Business unit level 2. Product level 3. Market level 4. All of the above
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4. All of the above (Market planning occurs at all three levels–business unit, product, market–and supports the company’s strategic planning efforts with more detailed plans for marketing opportunities.)
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A sound marketing strategy begins with _____. 1. Positioning 2. Customer analysis 3. Differentiation 4. Promotion 5. SWOT Analysis
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2. Customer analysis
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Which of the following mission statements is market-oriented? 1. Revlon: We sell cosmetics 2. Disney: We run theme parks 3. Walmart: We deliver value through low prices 4. Xerox: We make copy, fax, and other office machines
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3. Walmart: We deliver value through low prices
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In the BCG growth-share matrix, low-growth, high-share businesses or products are called: 1. Stars 2. Question marks 3. Cash cows 4. Dogs
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3. Cash cows
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Cash cows
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are low-growth, high-share businesses or products that produce a lot of cash for an organization and require little investment.
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Schwinn Bicycle Company wants to grow by diversification. To accomplish this, Schwinn will: 1. Introduce new bicycle models 2. Introduce modifications to its existing bicycle products 3. Identify new market segments for its current products 4. Start up or acquire businesses outside of its current products and markets
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4. Start up or acquire businesses outside of its current products and markets
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Diversification
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is the riskiest strategy as it requires that businesses develop new products in new markets.
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Proctor & Gamble once had more than 10 different brands of laundry detergent but now markets only 6. This is an example of: 1. Downsizing 2. Diversification 3. Market contraction 4. Market penetration
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1. Downsizing
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Downsizing
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is reducing the business portfolio by eliminating products of business units that are not profitable or that no longer fit the company’s overall strategy.
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Natalie has divided the cellphone market into 5 groups based on age. This an example of: 1. Market positioning 2. Market segmentation 3. Market targeting 4. Marketing mix
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2. Market segmentation
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Walmart “partners” with its vendors to deliver greater value to its customers. This is an example of: 1. Convenience 2. Value delivery network 3. Customer orientation 4. Diversification
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2. Value delivery network
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Value delivery network
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is made up of the company, suppliers, distributors, and ultimately customers who “partner” with each other to improve the performance of the entire system.
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To identify opportunities and problem areas, companies often hire an independent consultant to conduct a systematic examination of their environment, objectives, and strategies. This is an example of a: 1. SWOT Analysis 2. Marketing implementation 3. Marketing audit 4. Value delivery network
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3. Marketing audit
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Marketing audit
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is a comprehensive, systematic, independent, and periodic examination of a company’s environment, objectives, strategies, and activities.
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If a manager is busy working with other managers evaluating the products and businesses making up their company, he/she is engaged in _____. 1. Defining the company’s mission statement. 2. Preparing a business portfolio 3. Portfolio analysis 4. Marketing planning 5. Marketing control
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3. Portfolio analysis
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Companies that sell one product line to many different types of markets should use: 1. Functional organization 2. Geographic organization 3. Product management organization 4. Market management organization
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4. Market management organization (This method of organization allows the company to be organized around the needs of specific customers.)
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The net return from a marketing investment divided by the costs of the marketing investment is called: 1. Return on sales 2. Return on profits 3. Return on marketing investment 4. Value return
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3. Return on marketing investment
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Return on marketing investment (or marketing ROI)
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is the net of return from a marketing investment divided by the costs of the marketing investment.
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Which of the following is NOT an actor within the microenvironment? 1. Cultural forces 2. The company 3. Suppliers 4. Marketing intermediaries
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1. Cultural forces (Microenvironmental actors are close to the company and affect the firm’s ability to serve its customers. Cultural forces influence the macroenvironment.)
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Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers? 1. The marketing environment 2. Strategic planning 3. Target markets 4. The marketing mix 5. None of the above
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1. The marketing environment
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To sell products more efficiently and effectively, most manufacturers seek the assistance of all of the following marketing intermediaries EXCEPT: 1. Resellers 2. Financial institutions 3. Physical distribution firms 4. Suppliers
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4. Suppliers (Suppliers provide the resources needed by the company to produce its goods and services, but do not help resell, distribute, or finance transactions.)
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You and your marketing team must develop a plan to sell computer systems to telecommunications providers. This plan targets which of the following customer markets? 1. Business market 2. Consumer market 3. International market 4. Government market
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1. Business market (Business markets buy goods and services for further processing or for use in their production process.)
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A cosmetic manufacturer receives a letter from PETA expressing concern over the use of animals in product testing. To which of the following publics does PETA belong? 1. Local 2. Financial 3. Citizen action 4. Government
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3. Citizen action (PETA is one of many citizen action groups which may question a firm’s marketing efforts.)
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John was born in 1995. To which generation does he belong? 1. Generation X 2. Millennials or Generation Y 3. Baby Boomers 4. Boomerangers
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2. Millennials or Generation Y (Millennials or Generation Y were born between 1977 and 2000.)
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Which of the following is NOT a current trend associated with the changing American household? 1. The percent of married couples with children is increasing 2. More people are divorcing, separating, and choosing not to marry 3. The number of working women is increasing 4. The number of nontraditional households is growing more rapidly.
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1. The percent of married couples with children is increasing
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Based on recent geographic shifts in population, you would most likely open your new branch of a sporting goods store in which of the following areas? 1. The South 2. The Northeast 3. The Midwest 4. Canada
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1. The South (The US population has been migrating toward the Southern and Western states for the past 2 decades)
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From a demographic point of view, your new Internet-service company stands a good chance of succeeding because the US population is: 1. Becoming more ethnically diverse 2. Growing older 3. More inclined towards citizen action 4. Becoming better educated
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4. Becoming better educated
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Factors that affect consumer buying power and spending patterns fall under which environment? 1. Natural 2. Cultural 3. Economic 4. Technological
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3. Economic
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For every pair of blue jeans purchased by customers, GAP is donating $5 to the World Wildlife Fund. This is an example of: 1. Cause-related marketing 2. Philanthropy 3. Social marketing 4. Cultural marketing
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1. Cause-related marketing
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Which of the following American government agencies is charged with setting and enforcing pollution standards? 1. The Environmental Protection Agency (EPA) 2. The Federal Trade Commission (FTC) 3. The Food and Drug Administration (FDA) 4. The Consumer Product Safety Commission 5. The Federal Energy Regulatory Commission
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1. The Environmental Protection Agency (EPA)
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The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ____ and _____. 1. Ethics; promotion responsibility 2. Ethics; social responsibility 3. Finances; employee discrimination 4. Management ethics; cultural bias 5. Promotion; pricing
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2. Ethics; social responsibility
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What does BCG stand for?
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Boston Consulting Group
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When purchasing goods and services, University Medical Center solicits bids on the Internet and awards their business to the low bidder. This is an example a(n): 1. Modified bid 2. Reverse auction 3. E-purchase situation 4. Electronic auction
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2. Reverse auction
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Cox is a cable television company that is offering customers Internet, Phone and Televised services as well. Cox is trying to increase its: 1. Production share 2. Relationship share 3. Share of customer 4. Share of value
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3. Share of customer
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Share of Customer
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The share a company gets of the customer’s purchasing in their product categories.
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Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force and the _____. 1. Owners 2. Stockholders 3. Marketing department 4. Competition 5. Web
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3. Marketing department
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The real value of marketing research and marketing information lies in how it is used-in the ____ it provides. 1. Customer insights 2. Profits 3. Sales 4. Data
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1. Customer insights
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A good MIS balances the information users would _____ against what they really _____ and what is _____. 1. Need; like; feasible 2. Like; can afford; needed 3. Like to have; need; feasible to offer 4. Need; can afford; useful 5. Use; have to use; available
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3. Like to have; need; feasible to offer
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______ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. 1. The marketing information system 2. Marketing research 3. Exploratory research 4. Observational research 5. Causal research
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2. Marketing research
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A pet store offers shoppers a membership card. Members receive monthly mailings featuring coupons for the specific brand of pet food they purchased previously. This is made possible by: 1. Survey data 2. The internal database 3. Competitive intelligence 4. Observational research
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2. The internal database
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Part of your job entails monitoring several blogs to learn what consumers are saying about your products as well as your competitors’. You are gathering: 1. Experimental data 2. Casual data 3. Focus group intelligence 4. Marketing intelligence
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4. Marketing intelligence
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A back surveys mortgage and loan holders to learn their household size, income, age, and marital status. The bank has engaged in: 1. Descriptive research 2. Casual research 3. Exploratory research 4. Focus group research
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1. Descriptive research
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If your firm was interested in learning which of two television advertising campaigns would be effective, the company should conduct: 1. Ethnographic research 2. Secondary research 3. Observational research 4. Experimental research
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4. Experimental research
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When survey data must be collected quickly, the best data collection technique would be: 1. Group interviewing 2. Telephone surveying 3. Online surveying 4. Mail surveying
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3. Online surveying
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Mallory is selecting a research sample by finding and interviewing 25 males and 25 females in each of four geographic regions. Which type of sample is Mallory using? 1. Cluster sample 2. Convenience sample 3. Simple random sample 4. Quote sample
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4. Quote sample
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Pupillometer tests in advertising measure a consumer’s pupil dilation as he or she views an advertisement. A pupillometer is an example of a(n): 1. Mechanical device 2. Questionnaire 3. Secondary device 4. Survey device
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1. Mechanical device
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_____ allows an organization’s suppliers, customers, and resellers to update account information, check purchases, and more. 1. CRM 2. An intranet 3. An extranet 4. A marketing intelligence system
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3. An extranet
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A successful CRM program can be expected to help a company achieve all of the following EXCEPT ______. 1. Providing higher levels of customer service 2. Developing deeper customer relationships 3. Creating offers tailored to specific customer requirements 4. Understanding competition better 5. Understanding how to build the marketing mix
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4. Understanding competition better
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Two major public policy and ethics issues in marketing research are intrusions on consumer privacy and: 1. Cost of primary data 2. Lack of information availability 3. Misuse of research findings 4. Government interference
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3. Misuse of research findings
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Elizabeth purchases items for her family’s personal use, such as food and clothing. Elizabeth and her family are part of which market? 1. Business 2. Consumption 3. Current 4. Consumer
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4. Consumer
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_______ is never simple, yet understanding it is the essential task of marketing management. 1. Brand personality 2. Consumption pioneering 3. Early adoption 4. Consumer buying behavior 5. Understanding the difference between primary and secondary data
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4. Consumer buying behavior
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After certain types of sales, markers often send consumers communications to help them feel good about their purchases. Marketers do so in order to: 1. Increase variety-seeking behavior 2. Encourage complex buying behavior 3. Encourage habitual buying behavior 4. Reduce cognitive dissonance
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4. Reduce cognitive dissonance
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Consumers do not always assign the same meaning to a marketer’s message that was intended by the marketer. This is because of consumers’: 1. Expectations 2. Selective distortion 3. Selective perception 4. Cognitive dissonance
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2. Selective distortion
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The buyer decision process consists of five stages. Which of the following is NOT one of these stages? 1. Need recognition 2. Information search 3. Variety-seeking buying behavior 4. Purchase decision 5. Post-purchase behavior
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3. Variety-seeking buying behavior
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Consumers learn about new products for the first time and make the decision to buy them during the ______. 1. New product recognition 2. Adoption process 3. Evaluation process 4. Information search 5. Quality assessment
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2. Adoption process
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While watching the Super Bowl, you become intrigued by an ad for a radical new product, which you buy the following week. In this circumstance you are behaving like a(n): 1. Laggard 2. Early adopter 3. Innovator 4. Late adopter
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3. Innovator
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The speed of adoption for new products that are technologically advanced is particularly dependent upon which of the following new product characteristics? 1. Relative advantage 2. Communicability 3. Divisibility 4. Complexity
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4. Complexity
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Business buyer demand is derived from: 1. Consumer demand 2. Technological factors 3. Psychological factors 4. Cultural factors
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1. Consumer demand
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Large business purchasers usually call for detailed product specifications, written purchase orders, careful supplier searches, and formal approval. These are all examples of how the business buying decision process is: 1. Formalized 2. Creative 3. Relationship-oriented 4. Independent 5. Concentrated
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1. Formalized
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Dell manufacturers computers but purchases many of the components from other manufacturers. If Dell desires to renegotiate a more favorable purchase agreement or seeks a new supplier for a part, which type of buying situation fits the scenario? 1. Straight rebuy 2. Modified rebuy 3. Variety-seeking 4. New task (In a modified rebuy, the buyer wants to modify product specifications, prices, terms, or suppliers)
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2. Modified rebuy
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Economic developments, technological changes, and culture and customs are among the _____ influences that impact business buyer behavior. 1. Environmental 2. Interpersonal 3. Organizational 4. Individual (Political and competitive developments in the environment also influence buyer behavior.)
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1. Environmental
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All EXCEPT which of the following are examples of the first stage of the buying process? 1. A company decides to launch a new product 2. A machine breaks down and needs new parts. 3. A buyer invites qualified suppliers to submit proposals. 4. A purchasing manager is unhappy with a current supplier’s service.
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4. A purchasing manager is unhappy with a current supplier’s service.

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