MKT 304 - Marketing Management » Fall 2022 » Test 1
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Question #1
Which of the following statements best describes the modern view of Marketing?
A.
The job of Marketing is to get rid of whatever the company is producing.
B.
Marketing begins with anticipating potential customer needs.
C.
Marketing is concerned with generating a single exchange between a firm and a customer.
D.
Production, not Marketing, should determine what goods and services are to be developed.
E.
Marketing should take over production, accounting, and financial services within a firm.
Question #2
______________ directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the society's objectives.
A.
Standardization and grading
B.
Social quant. analysis
C.
Macro-Marketing
D.
The transporting function
E.
Micro-Marketing
Question #3
American supermarket chain, FoodMart, purchases cheese from five different manufacturers from around the world to assure its customers can choose among different types of cheeses at different prices. FoodMart facilitates the macro-marketing system by helping to address:
A.
All of these are correct.
B.
Spatial separation
C.
Discrepancies of assortment
D.
Separation of values
Question #4
Since individual firms cannot perform all Marketing functions, _____________ often play a role in the exchange process.
A.
Intermediaries
B.
Consumer action groups
C.
Government analysts
D.
Marketing managers
Question #5
Which of the following types of firms are collaborators?
A.
All of these are collaborators
B.
Marketing research firms
C.
Overnight delivery firms
D.
Advertising agencies
E.
Product-testing labs
Question #6
In a command economy:
A.
Producers have a lot of choice about what and how much to produce.
B.
Economies have little variety, so consumers have few choices.
C.
Prices usually fluctuate according to supply and demand.
D.
Marketing activities such as advertising, branding, and market research are encouraged.
Question #7
__________ in the marketplace are a rough measure of how society values particular goods and services.
A.
Prices
B.
Cost of labor and materials
C.
The number of producers
D.
Discrepancies of quantity
E.
Inventories
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Simple Trade
B.
Production
C.
Marketing Department
D.
Marketing Company
Question #9
The textbook considers five "eras" of Marketing evolution. These five eras in their logical order are:
A.
Subsistence, production, sales, entrepreneurial, marketing company
B.
Simple trade, production, sales, marketing company, marketing department
C.
Simple trade, production, sales, marketing department, marketing company
D.
Simple trade, production, sales, entrepreneurial, marketing company
E.
Simple trade, production, sales, marketing department, international trading
Question #10
The main difference between the "Marketing Department era" and the "Marketing Company era" is:
A.
There is no difference.
B.
More emphasis on short-run planning in the marketing company era.
C.
Whether the president of the firm has a background in marketing.
D.
Whether the whole company is customer-oriented.
E.
More emphasis on selling and advertising in the marketing department era.
Question #11
The three basic ideas in the "Marketing Concept" are:
A.
Customer satisfaction, marketing manager as chief executive, profit.
B.
Resource efficiency, sales growth, profit maximization.
C.
Customer satisfaction, resource efficiency, sales unit maximization.
D.
Customer satisfaction, total company effort, profit.
E.
Customer satisfaction, total company effort, sales unit growth.
Question #12
The marketing management process is the process of:
A.
Implementing marketing plans.
B.
Controlling marketing plans.
C.
All of these.
D.
Planning marketing activities.
Question #13
The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
A.
Management by objective
B.
Marketing programming
C.
Inventory planning
D.
Marketing upfront planning
E.
Strategic (management) planning
Question #14
A marketing strategy specifies:
A.
A marketing mix
B.
A target market
C.
The resources needed to implement a marketing quant.
D.
A target market and a related marketing mix
Question #15
Herbal Essences Hair Care Company tries to sell its hair shampoos and conditioners to adult women, ages 18-24. These women represent Herbal Essences' primary:
A.
4Ps
B.
Marketing requirements
C.
Channel of distribution
D.
Target market
E.
Marketing mix
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
ignores markets that are large and spread out
B.
is limited to small market segments
C.
assumes that all customers are basically the same
D.
focuses on fairly homogeneous market segments
Question #17
The "four Ps" of a marketing mix are:
A.
Product, Place, Promotion, and Price
B.
Production, Personnel, Price, and Physical Distribution
C.
Promotion, Production, Price, People
D.
Potential customers, Product, Price, and Personal Selling
E.
Product, Price, Promotion, and Profit
Question #18
Which of the following is NOT considered a product?
A.
A chair
B.
A haircut
C.
A computer
D.
Tax advice from a financial consultant
E.
All of these are considered products
Question #19
Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix variable that is being considered here is:
A.
Promotion
B.
Price
C.
Product
D.
Place
E.
Personnel
Question #20
"Promotion" includes:
A.
Publicity
B.
Personal selling
C.
All of these may be included in Promotion
D.
Advertising
E.
Sales Promotion
Question #21
Advertising is:
A.
Direct communication between sellers and potential customers.
B.
The main form of publicity
C.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
D.
All of these are included in Advertising
E.
The designing and distribution of novelties, point-of-purchase materials, store signs, contests, catalogs and circulars.
Question #22
When Herbal Essences Hair Care Company offers "dollar-off coupons" to adult women to motivate them to try its shampoos and conditioners, this is an example of:
A.
Product development
B.
Sales Promotion
C.
Publicity
D.
Distribution
E.
Market penetration
Question #23
A "Marketing Plan" is:
A.
Similar to a marketing sales promotion
B.
A marketing strategy - plus the time-related details for carrying it out
C.
A plan focused on the necessary operational decisions
D.
A target market and a generic marketing mix
E.
Similar to a public relations strategy
Question #24
A "S.W.O.T." analysis:
A.
Identifies a firm's "strengths, weaknesses, opportunities, and threats."
B.
Focuses on what a firm plans to do to "Satisfy Wishes of a Target" customer.
C.
Seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips."
D.
Helps defend against potential competitors by developing a set of competitive "Safeguards, weapons, offensives, and tactics."
E.
Summarizes a firm's "strategy, wishes (of its customers), outlook and tactics."
Question #25
When Colgate (personal care products company) encourages its current customers to brush their teeth more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing?
A.
Product development
B.
Market penetration
C.
Diversification
D.
Market development
Question #26
Which of the following is not an element of the external market environment?
A.
Technological environment
B.
Company environment
C.
Economic environment
D.
Cultural and social environment
E.
Legal environment
Question #27
A mission statement has the following purposes except:
A.
To provide detailed goals and plans.
B.
To keep managers working towards a common purpose.
C.
To communicate the firm's basic reason for being.
D.
To help firms decide what opportunities to pursue.
E.
To help firms decide what opportunities to avoid.
Question #28
Overall, company objectives should:
A.
Be specific
B.
Be compatible with one another.
C.
Focus on returning some profit to the business.
D.
All of these are correct.
E.
Be realistic and achievable.
Question #29
Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?
A.
Marketing objectives, company objectives, promotion objectives, sales promotion objectives.
B.
Company objectives, marketing objectives, promotion objectives, sales promotion objectives.
C.
Marketing objectives, promotion objectives,sales promotion objectives, company objectives.
D.
Company objectives, sales promotion objectives, marketing objectives, promotion objectives.
Question #30
A(n) ___________ is a marketing mix that customers see as better than a competitor's mix and cannot be quickly or easily copied.
A.
Competitor matrix
B.
Sustainable competitive advantage
C.
Objective-centered approach
D.
Competitor analysis plan
E.
Resource combination
Question #31
Which of the following statements about the competitive environment is FALSE?
A.
Marketing managers should choose strategies that avoid head-on competition
B.
Over the long run, most product-markets tend toward monopolistic competition.
C.
In a competitor analysis, the firm's first step should be to identify all potential competitors.
D.
Competition-free environments are rare.
E.
A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage.
Question #32
The Sherman Act sought to:
A.
Prevent monopolies or consperacies in restraint of trade.
B.
Establish the Calif. State University Protection Agency.
C.
Prevent fraud on the Internet.
D.
Eliminate price differences among different competing suppliers.
E.
Restrict importing into the United States.
Question #33
How is "Segmenting" different from "Combining"?
A.
Combiners usually have more sales potential than segmenters.
B.
A combiner tries to meet the demand in several segments.
C.
None of these are correct.
D.
A segmenter assumes that a broad product market consists of a homogeneous group of customers.
Question #34
A complete product-market definition includes a four-part description comprising all of the following except:
A.
Customer types
B.
Marketing mix
C.
Geographic area
D.
Customer needs
E.
Product types
Question #35
A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the:
A.
Competitive environment
B.
Political and legal environment
C.
Cultural and social environment
D.
Technological environment
E.
Economic environment
Question #36
Which of the following would help prevent marketing mistakes in evaluating international market opportunities?
A.
Assume that all cultures around the world are the same.
B.
Do not "think locally."
C.
Save money by cutting research into foreign markets.
D.
Use machine translators.
E.
Include local citizens in the evaluation process.
Question #37
The process of marketing strategy planning is about:
A.
Narrowing down possible market opportunities to the most attractive ones.
B.
Creating products that managers like.
C.
Identifying as many market opportunities as can be imagined.
D.
Figuring out how to offer products at the lowest possible price.
Question #38
Which of the following is LEAST LIKELY to compete in the same generic market with the others?
A.
Champagne
B.
A greeting card
C.
A tomato
D.
Long-stem roses
Question #39
When you are "in the market" for a new car, and are considering different brands to purchase, what type of market is involved?
A.
Determining market
B.
Product-market
C.
Generic market
D.
Qualifying market
Question #40
The process of market segmentation is a two-step process that involves:
A.
Identifying target groups with the fewest potential customers and making subsets of these.
B.
Selecting a marketing mix to reach everyone and then going to lunch at Chipotle Mexican Grill.
C.
Identifying broad product markets and segmenting them into narrower target markets.
D.
Identifying small target markets and expanding them into broad product markets.
Question #41
According to the textbook, segmenting should be viewed as a(n) ______________ process.
A.
assorting
B.
mechanical, nonjudgmental
C.
"breaking apart" or disaggregatingg
D.
"clustering" or aggregating
Question #42
When deciding how far to carry the segmentation process …
A.
It is easier to develop effective marketing mixes for larger, more heterogeneous segments.
B.
The threat of potential competitors suggests more aggregating.
C.
Profit should be the balancing point - determining how unique a marketing mix the firm can offer to some target market.
D.
All of these alternatives are true.
Question #43
Which of the following is a BEHAVIORAL segmenting dimension?
A.
Region of the world or country
B.
Education
C.
Income
D.
Needs
Question #44
Which of the following is a consumer market demographic dimension?
A.
Age
B.
Sex
C.
Education
D.
Occupation
E.
All of these are examples of a consumer market demographic dimension
Question #45
Which of the following best describes the use of real-time data to continuously update a customer's placement in a market segment?
A.
None of these
B.
Dynamic behavioral segmentation.
C.
Random Clustering
D.
Positioning
E.
AIC analysis
Question #46
A.
Generic market
B.
Aggregating approach
C.
Clustering approach
D.
CRM database
Question #47
Positioning Maps are based on:
A.
The opinions of the marketing managers.
B.
The actual objective characteristics of products.
C.
Customers' perceptions of products
D.
The potential places where a product may be sold and purchased.
Question #48
An economic buyer is a person who:
A.
Will not pay extra for convenience.
B.
Is averse to spending time and money.
C.
Logically compares choices to get the greatest satisfaction from spending time and money.
D.
Makes buying decisions based only on price.
Question #49
Discretionary income is defined as:
A.
Income available before taxes.
B.
Income available after taxes and necessities.
C.
Gross domestic product per capita.
D.
Income available after taxes.
E.
Total market value of goods and services produced.
Question #50
The "economic-buyer" model:
A.
Is seen as too simplistic by most marketing managers to explain consumer behavior..
B.
Suggests that men and women behave differently as buyers.
C.
Assumes that buyers don't have enough information to make logical choices - and as a result buy products that are not a good value.
D.
None of these is true of the economic-buyer model.
Question #51
Which of the following is NOT a psychological variable?
A.
Learning
B.
Age
C.
Motivation
D.
Perception
E.
Attitudes
Question #52
Marci Bello is status-oriented. When she buys clothing she only considers items with well-known "labels" that her friends will notice. This behavior illustrates:
A.
Satisfying a need
B.
All of these are equally good answers
C.
The "economic-buyer" model of buyer behavior
D.
Satisfying a want
Question #53
Ranked from lowest (most basic) level to highest level, the "hierarchy of needs" model includes:
A.
Physiological, safety, social, and personal needs.
B.
Personal, social, safety, and physiological needs.
C.
safety, personal, social, and physiological needs.
D.
Social, personal, safety, and physiological needs.
Question #54
________ refers to processes that screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs.
A.
Focal socialization
B.
Selective learning
C.
Selective perception
D.
Selective exposure
Question #55
Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes aware of many TV ads for allergy products that she never noticed before. This illustrates:
A.
Selective exposure
B.
Selective calculation
C.
Reinforced cognition
D.
Selective organization
Question #56
The order of the steps in the learning process is:
A.
None of these alternatives is correct
B.
Drive, cue, response, reinforcement
C.
reinforcement, drive, cue, response
D.
Cue, response, drive, reinforcement
Question #57
Attitudes are:
A.
All of these alternatives are correct.
B.
Things we believe strongly enough to be willing to take some action
C.
reasonably enduring points of view about something
D.
usually thought of as involving liking or disliking
E.
more action-oriented than beliefs
Question #58
Which of the following would be the most difficult task facing a marketing manager?
A.
Strengthen existing positive attitudes.
B.
Discover the attitudes of the firm's target market.
C.
Change existing negative attitudes.
D.
Create new attitudes toward his or her brand.
Question #59
Psychographics may also be called:
A.
Personality analytics
B.
Lifestyle analysis
C.
Opinion insight
D.
Social group dynamics
Question #60
Which of the following social influences will likely have the greatest impact on a teenager's purchase of a high-profile (visibility) item like a skateboard?
A.
CSUN instructor
B.
Grandparents
C.
Reference group
D.
Family
Question #61
Marketers increasingly hire celebrities and even full-time bloggers to engage consumers in social media discussions about new products. A person who is able to influence followers to try products is:
A.
A source
B.
A channel captain
C.
A consumer advocate
D.
An opinion leader
Question #62
The whole set of beliefs, attitudes and ways of doing things of a reasonably homogeneous group of people is called a(n):
A.
Learned set
B.
Motivation
C.
Opinion set
D.
Personal environment
E.
Culture
Question #63
Which of the following statements accurately compares marketing to final consumers with marketing to organizational customers?
A.
Firms may choose to serve either organizational buyers or final consumers, but not both.
B.
Purchasing decisions by organizational buyers are usually more economic and less emotional as compared to consumers.
C.
Business-to-business marketing includes marketing to final consumers.
D.
Marketing to organizations is just like marketing to final consumers.
Question #64
After conducting a vendor analysis on potential suppliers, purchasing managers are likely to choose the vendor that:
A.
Offers AEG certification.
B.
Enables the firm to operate more efficiently with the least risks.
C.
Offers lowest price.
D.
Offers widest assortment
Question #65
Suppliers to businesses often:
A.
All of these answers are correct
B.
Provide info. about industry trends
C.
Provide J.I.T. delivery
D.
Serve as technical consultants to their customers.
Question #66
If a firm targets business and organizational markets, ....
A.
each customer may need to be treated as a different segment.
B.
the geographic location of the customer is likely to be less important than in segmenting consumer markets.
C.
NAICS codes may help in segmenting manufacturers but not producers of services.
D.
All of these alternatives are correct.
Question #67
A purchasing manager:
A.
Is only interested in finding the lowest possible price for a product.
B.
Is the only person a business-to-business salesperson ever needs to see in order to make a sale to a buying organization.
C.
Is basically a clerk who fills out paperwork to place orders.
D.
May specialize by product area if he/she works for a large organization.
Question #68
A sales representative calls on a prospective business customer only to find that the customer has an established relationship with another supplier that seems to be working well. The customer is not interested in considering other suppliers. The customer is currently in a __________________ situation.
A.
Extensive problem-solving
B.
Modified rebuy
C.
Straight rebuy
D.
New-task
Question #69
__________ refers to a producer (i.e. Nestle) reliably getting products delivered exactly before the customer (i.e. Walmart) needs them.
A.
Just-in-time delivery
B.
Total quality shipping
C.
Assured outsourcing
D.
Effective gatekeeping
Question #70
________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
A.
Marketing processing
B.
Marketing structure
C.
Marketing Research
D.
Marketing planning
Question #71
________________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
A.
Marketing processing dept.
B.
Marketing logistics system
C.
Marketing model
D.
Marketing information system
E.
Marketing status project
Question #72
________________ are educated guesses about the relationships between things or about what will happen in the future.
A.
Situation analyses
B.
Progressions
C.
Hypotheses
D.
Marketing Z modeling
E.
Data quants
Question #73
Identify the correct sequence in the marketing research process.
A.
Getting problem-specific data, interpreting the data, defining the problem, analyzing the situation.
B.
Analyzing the situation, getting problem-specific data, interpreting the data, defining the problem, solving the problem.
C.
Analyzing the situation, defining the problem, getting problem-specific data, interpreting the data, solving the problem.
D.
Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem.
Question #74
When a marketing manager has phone conversations with key wholesalers of the firm's products to try to obtain information about why the firm's product sales are down, this is an example of a(n):
A.
Hypothesis testing
B.
Situation analysis
C.
Experiment
D.
Intranet
E.
Data warehouse
Question #75
Data (Information) that has already been collected or published is:
A.
Secondary data
B.
Recycle data
C.
Eisner data
D.
Primary data
Question #76
Secondary data:
A.
Is often all that is needed to solve a problem.
B.
May not be specific enough to answer the question under consideration.
C.
Should be considered before primary data is collected.
D.
All of these alternatives are correct.
Question #77
Which of the following would be a source of Primary data?
A.
A Google search
B.
Company implemented specific market research tests to gather new data.
C.
None of these is a good choice
D.
Historical company records on sales, costs, and advertising for the past ten years.
E.
U.S. Census Bureau reports
Question #78
Qualitative research, compared to Quantitative research:
A.
Asks yes or no type questions
B.
Asks closed-ended questions
C.
Provides more representative samples of consumers
D.
Relies on open-ended questioning
Question #79
Marketing research which seeks structured responses that can be summarized is called:
A.
Situation analysis reserach
B.
Focus group research
C.
Open-ended reserach
D.
Quantitative research
Question #80
Information is obtained on a continuing basis from the same respondents using a:
A.
Responder group
B.
Statistical package
C.
Contributor group
D.
Consumer panel
E.
Consumer experiment
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