Quiz: Marketing Principles And Processes Questions!

48 Questions | Total Attempts: 721

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Quiz: Marketing Principles And Processes Questions!

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Questions and Answers
  • 1. 
    Marketing is:
    • A. 

      About the invention of new markets, new products and new services

    • B. 

      About the invention of new ways of distributing and reaching customers

    • C. 

      About researching, finding, understanding and making new markets

    • D. 

      About creating and changing market processes that change markets

    • E. 

      All of the answers listed

  • 2. 
    The presence of price and quality variance in markets means:
    • A. 

      Markets are not efficient

    • B. 

      Many consumers are ignorant

    • C. 

      A few suppliers’ products and services are best buys. Most are not.

    • D. 

      All of the answers listed

  • 3. 
    Marketing is about:
    • A. 

      Trading off between increased customer satisfaction and increased profits

    • B. 

      Increasing customer satisfaction, which in turn increases profits

    • C. 

      Increasing both customer satisfaction and company profits

    • D. 

      All of the answers listed

  • 4. 
    Product innovation and the diffusion of innovation create:
    • A. 

      Customer satisfaction

    • B. 

      Profits

    • C. 

      Capital

    • D. 

      All of the answers listed

  • 5. 
    Marketing is the business discipline responsible for:
    • A. 

      Product innovation

    • B. 

      The diffusion of innovation

    • C. 

      Product innovation and the diffusion of innovation

    • D. 

      None of the answers listed

  • 6. 
    The focus of companies needs to be on winning:
    • A. 

      The product innovation race

    • B. 

      The distribution innovation race

    • C. 

      Both a and b

    • D. 

      Either a or b

    • E. 

      None of the answers listed

  • 7. 
    A responsibility of marketers is to sell new products and ideas to:
    • A. 

      Their organization

    • B. 

      Their existing customers

    • C. 

      New customers

    • D. 

      All of the answers listed

  • 8. 
    Excellence in advertising and promotions is most needed:
    • A. 

      When your products and distribution are weak

    • B. 

      When your products and distribution are strong

    • C. 

      At all times

    • D. 

      At no time

  • 9. 
    The United States market is no longer where the action is:
    • A. 

      Because it is no longer the largest economy in the world

    • B. 

      Because its economy is shrinking in size

    • C. 

      Because it is growing much slower than Asia

    • D. 

      All of the answers listed

  • 10. 
    The future of the United States and Canada depends on their:
    • A. 

      Product innovation skills

    • B. 

      Service innovation skills

    • C. 

      Marketing skills

    • D. 

      Diffusion of innovation skills

  • 11. 
    The British Trading Empire replaced:
    • A. 

      The German Trading Empire

    • B. 

      The Spanish Trading Empire

    • C. 

      The French Trading Empire

    • D. 

      None of the answers listed

  • 12. 
    For how long has trading dominated raiding as a way of obtaining wealth and power?
    • A. 

      It is relatively new

    • B. 

      For a thousand years

    • C. 

      For three thousand years

    • D. 

      For five thousand years

  • 13. 
    The first ecological disaster that destroyed an early trading empire occurred in:
    • A. 

      China

    • B. 

      Africa

    • C. 

      Central America

    • D. 

      The Middle East

    • E. 

      Europe

  • 14. 
    How many times has China closed down its trade with the world?
    • A. 

      Once

    • B. 

      Twice

    • C. 

      Three times

    • D. 

      Five times

  • 15. 
    Wealth is created by:
    • A. 

      Selling and buying

    • B. 

      Invention

    • C. 

      The additive combination of trading and invention

    • D. 

      The dynamic combination of selling, buying and invention

  • 16. 
    Schumpeterian wealth is created by:
    • A. 

      Selling and buying

    • B. 

      Invention

    • C. 

      The additive combination of trading and invention

    • D. 

      The dynamic combination of selling, buying and invention

  • 17. 
    Adam Smith described a process where wealth is created by:
    • A. 

      Selling and buying

    • B. 

      Invention

    • C. 

      The additive combination of trading and invention

    • D. 

      The dynamic combination of selling, buying and invention

  • 18. 
    The biggest example of the humanizing, welfare creating and civilizing benefits of world trade in inventions is:
    • A. 

      The Internet

    • B. 

      The steamship

    • C. 

      Money

    • D. 

      Antibiotics

  • 19. 
    When a nation’s trading ability declines:
    • A. 

      It often resorts to raiding

    • B. 

      People blame the leaders

    • C. 

      It is because it becomes overconfident and arrogant

    • D. 

      The whole culture loses its vitality and declines

  • 20. 
    The good created by global free trade vastly outweighs the bad it has created.
    • A. 

      This is a matter of opinion

    • B. 

      This has been established by thousands of years of advancing civilization and prosperity

    • C. 

      Is the sort of statement you would expect from a marketing textbook

    • D. 

      This is simply not true

  • 21. 
    What competitive advantage does North America have that is discussed in this section?
    • A. 

      A superior higher education system

    • B. 

      Most of the world’s capital

    • C. 

      A superior distribution system

    • D. 

      None of the answers listed

  • 22. 
    Walmart has increased the productivity of    .
    • A. 

      Parts of the United States

    • B. 

      The supermarkets in the United States

    • C. 

      The whole of the United States

    • D. 

      American workers

  • 23. 
    Economic history is hard on:
    • A. 

      The timid who do not want to risk change

    • B. 

      The conservatives who do not want change

    • C. 

      The lazy

    • D. 

      All of the answers listed

  • 24. 
                    leads as the innovator and mass market trendsetter in reducing supply chain and distribution costs.
    • A. 

      Walmart

    • B. 

      Canada

    • C. 

      Germany

    • D. 

      Apple Computer

  • 25. 
    What created the mixing of cultures?
    • A. 

      The invention of books

    • B. 

      Trading route crossroads

    • C. 

      Intermarriage between cultures

    • D. 

      Global advertising

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