Quiz: Marketing Principles And Processes Questions!

48 Questions | By Amphib2007 | Updated: Mar 22, 2022 | Attempts: 743

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Quiz: Marketing Principles And Processes Questions! - Quiz

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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