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