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