Practice Test Marketing

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Which of the following is most essential to any definition of marketing?
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c- customer relationships
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All of the following are accurate descriptions of modern marketing today, EXCEPT which one?
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c- selling and advertising are synonymous with marketing
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The ______ steps of the five step marketing process are about understanding customers, creating customer value, and building strong customer relationships.
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b- first three
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Which of the following is an example of a type of market offering?
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e- all of the above; ideas, information, experiences, products(?)
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______ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.
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d- marketing myopia
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______ is a set of actual and potential buyers of a product?
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a- a market
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The art and science of choosing target markets and building profitable relationships with them is called _____.
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c-
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Selecting which segments of a population of customers to serve is called _____.
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d- target marketing
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Family Dollar stores probably focusing on buyers who have relatively modest means is an example of _____.
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d- target marketing
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____ is the set of benefits a company promises to deliver to its consumers to satisfy their needs.
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d- a value proposition
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. “build a better mousetrap and the world will beat a path to your door” reflects the ____ concept.
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d- product
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According to the authors of your text, the _____ concept is a “sense and respond” philosophy rather than a “make and sell” philosophy.
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c- marketing
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The three areas of consideration that should be balanced in the social marketing concept are consumer wants, society’s interests and ____.
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c- c profits?
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The set of marketing tools a firm uses to implement its marketing strategy is called the _____.
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c- marketing mix
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The first step in strategic planning is to ____.
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c- define the company mission
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The collection of businesses and products that make up a company is called its _____.
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d- business portfolio
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Business proportion planning involves two steps: _____ and _____
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e-identifying growth opportunities, evaluating growth opportunities
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. Most portfolio analysis methods evaluate SBU’s on two dimensions, namely _____ and ______.
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c-
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In the Boston Consulting Group approach, _____ provide(s) a measure of market attractiveness.
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d-
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In the BCG approach, ____ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth. When their growth slows down, they turn into ______.
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d-
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c-
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a-
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The four possible strategies that can be pursued for each SBU are building, holding, ____ and ______.
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b-
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A sound marketing strategy begins with ______.
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c-
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. ______ involves evaluating each market segments attractiveness and selecting one or more segments to enter.
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b-
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_____ is the place a product occupies in the consumer’s mind relative to competitor’s products.
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d-
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In a SWOT analysis, which of the following refers to factors in the external environment?
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a-
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b-
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Which type of organization helps companies to stock and move goods from their points of origin to their destination?
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a-
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(?), credit companies, insurance companies, and other businesses that help finance
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b-

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