Marketing Mid Review Multiple Choice Quiz Questions! Trivia

28 Questions | Total Attempts: 82

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Marketing Mid Review Multiple Choice Quiz Questions! Trivia


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

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