Marketing Exam 1

51 Questions  I  By Jennibeee
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 Marketing Exam 1
Marketing Exam 1

  
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  • 1. 
    Marketing enriches society by:
    • A. 

      Encouraging employees to participant and invest in socially responsible activities and charities.

    • B. 

      Solely focusing on maximizing firm profits.

    • C. 

      Recognizing that the firm can do very little by itself, and so it should stay focused on - and develop - its own core competencies and let municipal, state and federal governments sort out the complex, societal issues.

    • D. 

      All of the above

    • E. 

      None of the above


  • 2. 
    Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase _________ marketing. 
    • A. 

      B2C

    • B. 

      C2C

    • C. 

      B2B

    • D. 

      A2C

    • E. 

      Underground


  • 3. 
    To become value driven, firms:
    • A. 

      Share information across the entire organization about customers and competitors

    • B. 

      Balance relationships with customers beyond thinking about individual transactions

    • C. 

      Balance benefits with costs to create value for customers

    • D. 

      None of the above

    • E. 

      All of the abobe


  • 4. 
    The evolution of marketing progressed along the continuum:
    • A. 

      Production, sales, marketing, value-based marketing

    • B. 

      Sales, marketing, value-based marketing, production

    • C. 

      Marketing, value-based marketing, production, sales

    • D. 

      Value-based marketing, production, sales, marketing

    • E. 

      -sales, value-based marketing, marketing, production


  • 5. 
    Which of the following is not true about marketing?
    • A. 

      Marketing adds value to the products and services you use and buy.

    • B. 

      Marketing makes life easier.

    • C. 

      The growth of the internet means that marketing will diminish in importance and impact as customers interact directly with the firms

    • D. 

      Marketing establishes a price that is affordable to the customers while covering the costs of the features and benefits and providing a reasonable profit for the company.


  • 6. 
    The four Ps comprise the marketing mix, which is the ______________ set of activities that the firm uses to respond to the wants of its target markets. 
    • A. 

      Reversible

    • B. 

      External

    • C. 

      Organic

    • D. 

      Global

    • E. 

      Controllable


  • 7. 
    ________________ is communication by a marketer that informs, persuades, and reminds potential customers.
    • A. 

      Promotion

    • B. 

      Pricing

    • C. 

      Placement

    • D. 

      Product value creation

    • E. 

      Pork barreling


  • 8. 
    Of the five steps to the strategic marketing planning process, which step usually comes in the MIDDLE of the process?
    • A. 

      Evaluate performance

    • B. 

      Define the business mission.

    • C. 

      Situation analysis

    • D. 

      Identifying and evaluating opportunities.

    • E. 

      Implement marketing mix and resources.


  • 9. 
     Which of the following is NOT one of the four major growth strategies marketers typically utilize?
    • A. 

      Market penetration

    • B. 

      Product proliferation

    • C. 

      Market development

    • D. 

      Diversification

    • E. 

      Product development


  • 10. 
    Firms achieve ___________ through efficient procedures and excellent supply chain management.
    • A. 

      Operational excellence

    • B. 

      Customer loyalty

    • C. 

      Strategic acceptance

    • D. 

      Relative market share

    • E. 

      Value-based penetration


  • 11. 
    When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?
    • A. 

      Implementation

    • B. 

      Control

    • C. 

      Segmentation

    • D. 

      Planning

    • E. 

      All of the above


  • 12. 
    A mission statement describes a firm's tactical mission.
    • A. 

      True

    • B. 

      False


  • 13. 
    Brian is struggling with the choice of publishing his new book,“How to cook Polish Barbeque” as an e-book or a paperback. Brian is addressing which core marketing aspect? 
    • A. 

      Making product decisions

    • B. 

      Satisfying customer needs and wants.

    • C. 

      Exchange function of marketing.

    • D. 

      Decisions regarding in which setting marketing takes place.

    • E. 

      Making pricing decisions.


  • 14. 
    The basic difference between a good and a service is a good:
    • A. 

      Provides intangible benefits.

    • B. 

      -always less expensive than a corresponding service.

    • C. 

      Can be physically touched

    • D. 

      Generates greater interest among consumers

    • E. 

      Depreciates more rapidly in the minds of consumers.


  • 15. 
    The marketing goal of getting the "right quantities to the right locations, at the right time" is: 
    • A. 

      Communicating the value proposition.

    • B. 

      Creating value.

    • C. 

      Supply chain management

    • D. 

      Capturing value.

    • E. 

      Price and performance management.


  • 16. 
    When referring to “exchange,” marketers are focusing on:
    • A. 

      Location where products and services are traded.

    • B. 

      Price charged adjusted for currency exchange rates.

    • C. 

      The trading of things of value

    • D. 

      Creating value.

    • E. 

      Promotional offers designed to stimulate barter.


  • 17. 
    Franco uses a database software system to remind him when his customers should be ready to re-order his industrial cleaning products. With this reminder system,Franco contacts his customers when they are most likely to be “in the buying mode.” Franco’s system is part of: 
    • A. 

      Customer relationship management

    • B. 

      C2C marketing

    • C. 

      A transactional marketing orientation.

    • D. 

      Supply chain retail simplification system.

    • E. 

      A value driven global positioning system.


  • 18. 
    Value is:
    • A. 

      The lowest cost option.

    • B. 

      Represented by brand names.

    • C. 

      The highest priced alternative.

    • D. 

      Everyday low prices.

    • E. 

      What you get for what you give


  • 19. 
    To build a sustainable competitive advantage,most companies should focus on a single strategy. 
    • A. 

      True

    • B. 

      False


  • 20. 
    In ________________ pricing,the firm first determines the perceived worth of the product from the customer's point of view and then prices accordingly.
    • A. 

      Product-based

    • B. 

      Cost-based

    • C. 

      Competitor-based

    • D. 

      Management-based

    • E. 

      Value-based


  • 21. 
     A ___________ is a group of products that consumers may use together or perceive as similar in some way.
    • A. 

      SBU

    • B. 

      STP

    • C. 

      Market segment

    • D. 

      Product line

    • E. 

      Promotional service


  • 22. 
    When positioning products relative to competitors’ offerings, firms typically are most successful when they focus on opportunities:
    • A. 

      For diversification.

    • B. 

      In international markets.

    • C. 

      Where value-based pricing can be ignored.

    • D. 

      That build on their strengths relative to those of their competitors

    • E. 

      Where customer excellence can be substituted with product excellence.


  • 23. 
    Marketing involves all of the following EXCEPT:
    • A. 

      Exchange

    • B. 

      Efforts by individuals and organizations

    • C. 

      Satisfying customer needs and wants

    • D. 

      Production scheduling

    • E. 

      Creating value


  • 24. 
    Jenny, the delivery and sales representative for a beer distributor is calling on a retailer and sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge increase in sales. She calls her company’s distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of:
    • A. 

      Advising production on how much product to make.

    • B. 

      Engaging customers and developing long-term relationships.

    • C. 

      Identifying opportunities to expand.

    • D. 

      Synthesizing and interpreting sales, accounting, and customer-profile data.

    • E. 

      Alerting the logistics department when to ship products.


  • 25. 
    Price should be based on the value that the customer perceives.
    • A. 

      True

    • B. 

      False


  • 26. 
     To build a sustainable competitive advantage, most companies should focus on a single strategy.
    • A. 

      True

    • B. 

      False


  • 27. 
    E-books, in addition to being an alternative product form, provide __________ value creation through access via the Internet.
    • A. 

      Price

    • B. 

      Promotion

    • C. 

      Product

    • D. 

      Place

    • E. 

      All of the above


  • 28. 
    Based on the BCG portfolio analysis, products in low-growth markets that have received heavy investments and now have excess resources to spin off are:
    • A. 

      Stars

    • B. 

      Question marks

    • C. 

      Dogs

    • D. 

      None of the above

    • E. 

      Cash cows


  • 29. 
    Almost every organization includes values and ethics as part of their mission statement and includes a set of explicit rules in the company's employee handbook. Once the rules are in place there must be:
    • A. 

      A system of controls that rewards appropriate behavior and punishes inappropriate behavior.

    • B. 

      A Web site where employees can vent their frustration over lapses in ethical behavior.

    • C. 

      Weekly reminder seminars to enforce guidelines.

    • D. 

      All of the above


  • 30. 
    Being socially responsible is generally considered ____________________. 
    • A. 

      Beyond the norms of corporate ethical behavior.

    • B. 

      A good thing to do only when a company is profitable.

    • C. 

      Inappropriate for most firms in today 's market.

    • D. 

      More appropriate for regulators, ethical philosophers and clergy with a special interest in social and corporate behavior.

    • E. 

      Corporate foundations who can effectively concentrate a firm' s philanthropy.


  • 31. 
    Charges that firms are using "sweatshop" labor to produce their products are likely to occur during the ___________________ phase of the strategic marketing planning process.
    • A. 

      Implementation stage

    • B. 

      Planning stage

    • C. 

      Control stage

    • D. 

      Evolution stage

    • E. 

      Marketing mix stage


  • 32. 
    Competitive intelligence activities are likely to include any of the following EXCEPT:
    • A. 

      Reviewing court records.

    • B. 

      Paying auditing companies for previews of competitor 's quarterly statements.

    • C. 

      Interviewing customers.

    • D. 

      Observing competitor' s stores.

    • E. 

      Counting cars in competitor's parking lots.


  • 33. 
    Corporate social responsibility (CSR):
    • A. 

      Is becoming more prevalent

    • B. 

      Covers a wide range of activities beyond philanthropic and community-based activities, including marketing, sales and production.

    • C. 

      Is one criterion for determining whether a firm should be included in most-admired company rankings.

    • D. 

      Is a voluntary activity

    • E. 

      All of the above


  • 34. 
    During which phase of the strategic marketing plan would the firm address the question of, “Is the firm prepared to support the development of an ethical climate?”
    • A. 

      Implementation.

    • B. 

      Control.

    • C. 

      Evaluation.

    • D. 

      Planning

    • E. 

      Marketing mix.


  • 35. 
    Firms with strong ethical climates tend to: 
    • A. 

      Make greater utilization of business development consultants.

    • B. 

      Offer more goods and services than firms without strong ethical climates.

    • C. 

      Invest more in sales training software.

    • D. 

      Be more socially responsible

    • E. 

      All of the above


  • 36. 
    Firms use _______________ to collect, and synthesize information about their position with respect to their rivals.
    • A. 

      Demographic data.

    • B. 

      Regional regression analysis.

    • C. 

      Competitive intelligence

    • D. 

      Macroeconomic variable analysis

    • E. 

      Intuitive diagnostics.


  • 37. 
    Improved computer storage capabilities, and the manipulation of consumer information has increased consumers’:
    • A. 

      Access to competitive intelligence.

    • B. 

      Cultural awareness.

    • C. 

      Green marketing preferences.

    • D. 

      Technological comfort.

    • E. 

      Privacy concerns.


  • 38. 
    Marketers have learned that gender roles:
    • A. 

      Have been blurred.

    • B. 

      Are a constant cultural norm.

    • C. 

      Require firms to avoid gender neutrality.

    • D. 

      Are important and gender boundaries should never be crossed.

    • E. 

      All of the above


  • 39. 
    Marketers to _______________ income groups attempt to create value by offering one-of-a-kind products and exclusive services.
    • A. 

      Upper

    • B. 

      Middle

    • C. 

      Lower

    • D. 

      Lower-middle

    • E. 

      All


  • 40. 
    Marketers need to include blogs in the marketing plans because:
    • A. 

      They can gain important feedback on products and product uses.

    • B. 

      They are important media vehicles for advertising.

    • C. 

      Everyone else is doing it.

    • D. 

      Blogs are important ways for customer to “vent” but they have little use in product planning or other parts of the mix.

    • E. 

      Only younger Internet users blog, but these are an important audience.


  • 41. 
    One of Big Ben Clock Company’s customers has complained to the home office about high-pressure sales tactics used by their leading sales representative. The company’s code of ethics explicitly directs sales personnel not to engage in such practices. The manager of Big Ben will likely:
    • A. 

      Assess whether the organization has a strong ethical climate.

    • B. 

      Determine what punishment is appropriate

    • C. 

      Determine what explicit rules for governing the firm’s transactions exist.

    • D. 

      Review ambiguity in the current a code of ethics.

    • E. 

      All of the above.


  • 42. 
    Unlike other business functions like accounting or finance, people in marketing are often singled out as the root cause of ethical concerns because:
    • A. 

      They are trained in the art of effective persuasive communication.

    • B. 

      They interact directly with consumers.

    • C. 

      Consumers recognize marketers are not as quantitatively skilled as accounting and finance people.

    • D. 

      Problems like those that occurred at Enron, Tyco, and WorldCom were caused by marketers.

    • E. 

      Marketers, by definition, are less ethical.


  • 43. 
    Which of the following types of unethical behavior are likely to be observed in marketing environments?
    • A. 

      High pressure sales techniques.

    • B. 

      Misleading advertising.

    • C. 

      Deceptive sales tactics

    • D. 

      Misrepresentation of company data.

    • E. 

      All of the above.


  • 44. 
    Which of the following stakeholders were affected by Enron’s unethical business practices?
    • A. 

      Shareholders

    • B. 

      Employees

    • C. 

      Retirees

    • D. 

      Community

    • E. 

      All of the above


  • 45. 
    When evaluating competitors, marketers need to assess competitors’:
    • A. 

      Strengths

    • B. 

      Weaknesses

    • C. 

      Likely reaction to marketer’s activities

    • D. 

      All of the above


  • 46. 
    When marketers look at advertising media they often begin with viewer or listener profiles such as, age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using _____________ to see if the media “fits” with their advertising agenda.
    • A. 

      Country culture

    • B. 

      Regional culture

    • C. 

      Demographics

    • D. 

      Macromarketing measures

    • E. 

      Scenario planning


  • 47. 
    When considering the use of a radio commercial designed for U.S. markets, in England, a marketer would likely consider which of the following aspects of culture that might be different in England?
    • A. 

      Dress

    • B. 

      Symbols

    • C. 

      Language

    • D. 

      Ceremonies

    • E. 

      All of the above


  • 48. 
    The firms that work along with the focal firm to provide goods and services to consumers are viewed as: 
    • A. 

      Competitive intelligence

    • B. 

      Cultural monitors

    • C. 

      Corporate partners

    • D. 

      The macroeconomic environment

    • E. 

      Customers


  • 49. 
    The center of all marketing efforts is:
    • A. 

      Profits

    • B. 

      Corporate social responsibility

    • C. 

      Scenario planning

    • D. 

      The consumer

    • E. 

      Foreign cultural fluctuations


  • 50. 
    Though Asian Americans comprise only 3 percent of the U.S. population, they represent:
    • A. 

      The easiest minority group to access.

    • B. 

      A large proportion of the minority in the Southeast.

    • C. 

      A uniform group of consumers with a common language and cultural background.

    • D. 

      The fastest growing minority population

    • E. 

      All of the above


  • 51. 
    The "key" task in the _______________ phase is to ensure that all potential ethical issues raised in the planning process have been addressed and that all employees of the firm have acted ethically.
    • A. 

      Planning

    • B. 

      Implementation

    • C. 

      Evolution

    • D. 

      Control

    • E. 

      Marketing mix


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