Values Of Marketing
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If you are thinking about a career as a marketing executive and manager, then you should take this quiz it will helpful for you!
- 1.Which of the following activities does NOT involve marketing?
- A.
Purchasing gasoline
- B.
Attending marketing class
- C.
Downloading music
- D.
Deciding how many hours to sleep
- E.
Selling a CD on eBay
- 2.Marketing involves all of the following EXCEPT:
- A.
Exchange.
- B.
Satisfying customer needs and wants.
- C.
Creating value.
- D.
Efforts by individuals and organizations.
- E.
Production scheduling.
- 3.When reffering to "exchange", marketers are focusing on:
- A.
Location where products and services are traded.
- B.
Price charged adjusted for currency exchange rates.
- C.
Creating value.
- D.
Promotional offers designed to stimulate barter.
- E.
The trading of things of value.
- 4.The four P's compromise the ____________, which is the controllable set of activities that the firm uses to respond to the wants of its target markets.
- A.
Elements of practice
- B.
Internal operation focus
- C.
Needs response mechanism
- D.
Marketing mix
- E.
Functional marketing discipline
- 5.The fundamental goal of marketers when creating goods, services, or combinations of both, is to:
- A.
Differentiate themselves from the competition.
- B.
Overwhelm customers.
- C.
Provide what is needed as defined by government regulations.
- D.
Stimulate short-term sales.
- E.
Create value.
- 6.Marketing includes offering:
- A.
Products.
- B.
Services.
- C.
Ideas.
- D.
Causes.
- E.
Combinations of products, services, ideas, and causes.
- 7.In most supermarkets the are numerous almost identical products, some with brand names and others with store or generic labels. In terms of creating product value for the consumer, which of the following does nit create a difference in value between branded and generic products?
- A.
Brand image
- B.
Intrinsic ingredients
- C.
Price
- D.
Customer relationship between the manufacture and the store manager
- E.
How it is sold in the store
- 8.The basic difference between and good and a service is a good:
- A.
Provides intangible benefits.
- B.
Can be physically touched.
- C.
Is always less expensive than a corresponding service.
- D.
Generates greater interest among consumers.
- E.
Depreciates more rapidly in the minds of the consumers.
- 9.Four Winds Art Gallery recently began offering appraisals of customers art collections. Four Winds is:
- A.
Expanding from offering just a service to offering goods.
- B.
Implementing a market segmentation strategy.
- C.
Capturing value through multiple pricing strategies.
- D.
Expanding from offering just goods to offering services.
- E.
Increasing customer value through inflated appraisal evaluations.
- 10.The owner of The House Doctor, a home repair business, often helped potential customers evaluate alternative ways to fix problems. Since he got paid for materials and labor when doing repairs the House Doctor:
- A.
Was only offering a product.
- B.
Was offering only a service.
- C.
Provided both a service and a product.
- D.
Was primarily a marketer of ideas.
- E.
Focused on supply chain management.
- 11.The time involved in making a purchasing decision, the actual money to be spent, the effort involved, and any sacrifice the buy makes are all elements of:
- A.
Promotion parameters.
- B.
Distribution or place drivers.
- C.
Core product differentiators.
- D.
Processes consumers must follow.
- E.
Price.
- 12.Some discount stores put products in larger bins and let consumers hunt and find bargains. Part of the price these consumers pay is:
- A.
Cost of providing the bins.
- B.
The value of their time and energy.
- C.
Excitement they experience in finding an item they desire.
- D.
The savings to the store of not having to display the products neatly on shelves.
- E.
The savings to the store of not having to hire retail sales personnel.
- 13.Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her service. Henriette recognized that her pricing decisions primarily depend on:
- A.
Regulations determining the fees financial advisors can charge.
- B.
Changes in technology allowing consumers to manage their own affairs.
- C.
How much consumers are willing to pay and are satisfied with their purchase.
- D.
Changes in the economy creating recessions or periods of expansion.
- E.
How much effort she has to expand in assisting her clients.
- 14.Marketing efforts designed to get the product or service to the right consumer, when that customer wants is, are called:
- A.
Supply chain management.
- B.
Situational distribution efficiency.
- C.
Wholesaling.
- D.
Marketing myopia.
- E.
Endless chain marketing.
- 15.____________________ is communication by a marketer that informs, persuades, and reminds potential customers.
- A.
Pricing
- B.
Promotion
- C.
Placement
- D.
Product value creation
- E.
Pork barreling
- 16.By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to:
- A.
Increase social norms regarding sexuality.
- B.
Increase price resistance.
- C.
Stimulate supply chain management cooperation.
- D.
Increase the perceived value of their products.
- E.
Avoid interference from the Federal Trade Commission.
- 17.The traditional marketing channel through which consumers find and purchase goods and services is known as:
- A.
B2B
- B.
C2C
- C.
D2C
- D.
C2D
- E.
B2C
- 18.The advent of auction sites like eBay has increased ________________ marketing.
- A.
B2B
- B.
C2C
- C.
D2C
- D.
C2D
- E.
B2C
- 19.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.
- 20.The "Got Milk" advertising campaign was designed to help market an:
- A.
Individual.
- B.
Firm.
- C.
Industry.
- D.
Organization.
- E.
Nutritional cause.
- 21.Imagine you are now in charge of marketing at your own university. You will be very busy working on all of the activities below except:
- A.
Curriculum design.
- B.
Promotion.
- C.
Pricing.
- D.
Scheduling/distribution.
- E.
Grading marketing exams and papers.
- 22.Over the last few months, John and his colleagues have been identifying the target markets for his firms personal care products and then developing the products, prices, distribution and promotion that will appeal to each of those target markets. In doing so, he has also identified what he believes is an advantage his competitors cannot match. John has been working on:
- A.
Strategic planning.
- B.
Vision development.
- C.
Team building exercises.
- D.
A marketing strategy.
- E.
Competitive assessments.
- 23.When Everetts firm purchased a small diversified company, he was assigned the task of assessing a small company that was not a major reason for the acquisition. He needs to determine what the company could do as part of his company and what will be needed to address this question more completely. Everett is engaged in the _________ stage of the strategic marketing planning process.
- A.
Evaluate performance
- B.
Define business mission
- C.
Situation analysis
- D.
Implement marketing mix and resources
- E.
Identifying and evaluation opportunities
- 24.Even when big-box discount retailers enter a market, some small, local retailers survive and prosper. These retailers have developed a ________________ generating long-term profitability.
- A.
Value-based customer avoidance
- B.
Successful mission-goal statements
- C.
Sustainable competitive advantage
- D.
Market segmentation strategy
- E.
Strategic business simulation.
- 25.After developing a mission statement, a firm or organization next must perform:
- A.
Relative market share division.
- B.
A situational analysis.
- C.
A market penetration strategy analysis.
- D.
A mission-accomplished ceremony.
- E.
Cost-cutting surgery.
- 26.As a part of her company's SWOT analysis, Valerie is assessing the companys internal environment, including:
- A.
Strengths.
- B.
Opportunities.
- C.
Strengths and weaknesses.
- D.
Threats.
- E.
Opportunities and threats.
- 27.Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's:
- A.
Strengths.
- B.
Opportunities.
- C.
Strengths and weaknesses.
- D.
Threats.
- E.
Opportunities and threats.
- 28.When identifying and evaluation opportunities, STP refers to:
- A.
Simplification, teaching, and professing.
- B.
Strategic, target, and preferences.
- C.
Segmentation, targeting, and positioning.
- D.
Situation, teamwork, and planning.
- E.
Sustainable, temporary, and positions.
- 29.Lionel is asked to conduct an STP analysis for his firm. The first thing he will do is:
- A.
Generate sum of segments.
- B.
Target potential targets.
- C.
Reposition existing segments.
- D.
Divide the marketplace into subgroups.
- E.
Conduct a SWOT analysis.
- 30.Imagine, you are in a gourmet food store choosing your favorite "comfort" food instead of being in a classroom taking this test. Notice the packaging, colors, labels, even the fonts used on labels. All of these efforts are part of marketers':
- A.
Cost-based promotion.
- B.
Market segmentation.
- C.
Positioning.
- D.
Customer excellence strategy.
- E.
Targeting.
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