Marketing Mid Review Multiple Choice

28 Questions | Total Attempts: 76

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Marketing Mid Review Multiple Choice

All of the Marketing Review he put in the weird PDF format is now in multiple choice format. BOTH the questions and answers will shuffle after each time you take it.


Questions and Answers
  • 1. 
    Marketing refers toCh. 1
    • A. 

      The production of products or services that will generate the highest return on investment

    • B. 

      The strategies used in the advertising and promotion of products and services

    • C. 

      The process of identifying target market segments for a product or service

    • D. 

      The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large

    • E. 

      The activity involved in actually getting a product or service to the ultimate user

  • 2. 
    Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) ___________; (3) a way for the parties to communicate; and (4) something to exchange.Ch. 1
    • A. 

      A healthy competitive environment

    • B. 

      Government approval

    • C. 

      A sense of social responsibility

    • D. 

      A desire and ability on their part to be satisfied

    • E. 

      An ability to see hidden potential within an environmental force

  • 3. 
    A target market refers toCh.1
    • A. 

      People who could purchase a product regardless who ultimately uses it.

    • B. 

      One or more specific groups of potential consumers toward which an organization directs its marketing program

    • C. 

      Former customers who now use competitors' products

    • D. 

      Customers who shop at Target stores.

    • E. 

      People with both the desire and the ability to buy a specific offering.

  • 4. 
    The reward to a business firm for the risk it undertakes in marketing its offerings is referred to asCh. 2
    • A. 

      Shareholders' equity.

    • B. 

      Profit

    • C. 

      Assets

    • D. 

      Contribution margin.

    • E. 

      Goodwill.

  • 5. 
    Mission refers toCh. 2
    • A. 

      The target goal set by a company regarding future profits

    • B. 

      The target objective set by a company regarding future market share

    • C. 

      The functional philosophy of a corporation that dictates the behavior of all its employees

    • D. 

      Specific strategies and tactics that will be used to counteract any advantages of competitors.

    • E. 

      A statement of the organization's functions in society, often identifying its customers, markets, products, and technologies

  • 6. 
    The acronym "SWOT" in the term "SWOT analysis" stands for _________.Ch. 2
    • A. 

      Strengths, weaknesses, opportunities, and tactics

    • B. 

      Strengths, weaknesses, options, and tactics

    • C. 

      Strengths, weaknesses, opportunities, and threats

    • D. 

      Simple, workable, optimal, and timely

    • E. 

      State the problem, work out a strategy, organize your team, and take action

  • 7. 
    In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects _________.Ch. 2
    • A. 

      Market growth rate

    • B. 

      Marketing efficiencies

    • C. 

      Industry attractiveness

    • D. 

      Market segment size

    • E. 

      Relative market share with respect to largest competitor

  • 8. 
    What are the four critical factors in a “SWOT” analysis that help an organization identify the critical strategy related factors that could have major effects on it? ( ), ( ), ( ), ( )MCP Ex. - Ch 2
    • A. 

      Strengths, Weaknesses, Opportunities, Threats

    • B. 

      Strengths, Weaknesses, Objects, Threats

    • C. 

      Support, Weaknesses, Objects, Threats

    • D. 

      Strength , Weaknesses, Objectives, Threats

    • E. 

      Growth rate

  • 9. 
    AT&T, MCI, Verizon, and Sprint control approximately 80 percent of the international long distance telephone market, which can be characterized as a(n) _________.Ch. 3
    • A. 

      Monopoly

    • B. 

      Cross-market

    • C. 

      Pure competition

    • D. 

      Monopolistic competition

    • E. 

      Oligopoly

  • 10. 
    __________ is the form of competition in which distribution (in the sense of shipping products) is the only element of the marketing mix that exerts an impact.Ch. 3
    • A. 

      Cross-market competition

    • B. 

      Pure competition

    • C. 

      Oligopoly

    • D. 

      Monopolistic competition

    • E. 

      Monopoly

  • 11. 
    The form of competition in which many sellers compete with their products on a substitutable basis within a price range is calledCh. 3
    • A. 

      pure competition.

    • B. 

      Cross-market competition.

    • C. 

      Oligopoly.

    • D. 

      Monopolistic competition

    • E. 

      Monopoly.

  • 12. 
    __________________, the fastest -growing US demographic segment, now number more than 41 millionCh. 3
    • A. 

      African American

    • B. 

      Hispanics

    • C. 

      Asian American

    • D. 

      Mature consumers

    • E. 

      Gay and lesbians

  • 13. 
    The American Marketing Association Statement of Ethics identifies six key ethical values. These include: ________, responsibility, fairness, respect, openness, and citizenship.Ch. 4
    • A. 

      Diversity

    • B. 

      integrity

    • C. 

      honesty

    • D. 

      perseverance

    • E. 

      charity

  • 14. 
    An employee who reports illegal accounting procedures is an example of a (n)Ch. 4
    • A. 

      Crony

    • B. 

      Scab

    • C. 

      Whistle-blower

    • D. 

      corporate snitch.

    • E. 

      Ombudsman.

  • 15. 
    Ultimately, ethical choices are based onCh. 4
    • A. 

      The personal moral philosophy of the decision maker.

    • B. 

      Societal culture and norms.

    • C. 

      Business culture and industry practices.

    • D. 

      Laws enacted by Congress and regulations by federal and state governments.

    • E. 

      chance and opportunity

  • 16. 
    Conducting business in a way that protects the natural environment while making economic progress is referred to asCh. 4
    • A. 

      Sustainable development

    • B. 

      Green marketing.

    • C. 

      Stakeholder responsibility

    • D. 

      The marketing concept

    • E. 

      Environmental marketing.

  • 17. 
    There are five stages in the purchase decision process. The first stage is _________.Ch. 5
    • A. 

      Information search

    • B. 

      Purchase decision

    • C. 

      Alternative evaluation

    • D. 

      Postpurchase behavior

    • E. 

      Problem recognition

  • 18. 
    During the purchase decision process, an individual at the __________ stage will perceive differences between his or her ideal and actual situations big enough to trigger a decision.Ch 5
    • A. 

      Problem recognition

    • B. 

      Alternative evaluation

    • C. 

      Cognitive dissonance

    • D. 

      Information search

    • E. 

      Post purchase behavior

  • 19. 
    Bob's friend Mike turns 21 next week and will have a party. Bob decided to purchase an MP3 player as a present. Because they like the same music, Bob scanned his memory for various brand options. This is an example of what part of the consumer purchase decision process?Ch 5
    • A. 

      Memorization

    • B. 

      external search

    • C. 

      Evaluative criteria

    • D. 

      Antecedent states

    • E. 

      Internal search

  • 20. 
    The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware, is referred to asCh 5 
    • A. 

      Evaluative set

    • B. 

      Evolved set.

    • C. 

      Consideration set.

    • D. 

      Alternative selection group.

    • E. 

      aspiration group.

  • 21. 
    What type of scale is the following? "Check your degree of agreement with the following statement: Marketing is an interesting subject."( ) Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly DisagreeCh 8
    • A. 

      Likert scale

    • B. 

      Semantic differential scale

    • C. 

      Dichotomous question

    • D. 

      Open-ended question

    • E. 

      Attitudinal question

  • 22. 
    A(n) __________ question requires respondents to select one or more response options from a set of predetermined choices.Ch 8
    • A. 

      Dichotomous

    • B. 

      open-ended

    • C. 

      Closed-end

    • D. 

      attitudinal

    • E. 

      semantic differential

  • 23. 
    Many consumers use __________ to communicate with and share opinions among friends, family, and other like-minded individuals around the world about the products and services they use or want.Ch 8
    • A. 

      Internet portals

    • B. 

      Virtual focus groups

    • C. 

      Wikis

    • D. 

      Social networking Web sites

    • E. 

      E-journals

  • 24. 
    An advantage of using a panel for marketing research isCh 8
    • A. 

      the discussion leader can help change negative panel responses into positive ones.

    • B. 

      The company can find out if consumers change their purchasing behavior over time.

    • C. 

      Panel members often help each other by bringing up ideas for discussion that others didn't initially think of but that were important to them

    • D. 

      There will usually be one panel member who dominates the discussion and helps keep the conversation focused.

    • E. 

      . panel members are highly defined demographically, so it is relatively simple to replace an individual member without losing continuity

  • 25. 
    Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to asCh. 9
    • A. 

      Consumer differentiation

    • B. 

      Psychographics

    • C. 

      Market segmentation

    • D. 

      Market delineation

    • E. 

      aggregation marketing