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 begins with anticipating potential customer needs.
B.
Marketing is concerned with generating a single exchange between a firm and a customer.
C.
Production, not Marketing, should determine what goods and services are to be developed.
D.
Marketing should take over production, accounting, and financial services within a firm.
E.
The job of Marketing is to get rid of whatever the company is producing.
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.
Micro-Marketing
B.
The transporting function
C.
Macro-Marketing
D.
Social quant. analysis
E.
Standardization and grading
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.
Separation of values
B.
Discrepancies of assortment
C.
Spatial separation
D.
All of these are correct.
Question #4
Since individual firms cannot perform all Marketing functions, _____________ often play a role in the exchange process.
A.
Marketing managers
B.
Government analysts
C.
Intermediaries
D.
Consumer action groups
Question #5
Which of the following types of firms are collaborators?
A.
All of these are collaborators
B.
Advertising agencies
C.
Product-testing labs
D.
Marketing research firms
E.
Overnight delivery firms
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.
The number of producers
B.
Inventories
C.
Cost of labor and materials
D.
Discrepancies of quantity
E.
Prices
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Simple Trade
B.
Marketing Company
C.
Marketing Department
D.
Production
Question #9
The textbook considers five "eras" of Marketing evolution. These five eras in their logical order are:
A.
Simple trade, production, sales, entrepreneurial, marketing company
B.
Simple trade, production, sales, marketing company, marketing department
C.
Subsistence, production, sales, entrepreneurial, marketing company
D.
Simple trade, production, sales, marketing department, 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.
Whether the whole company is customer-oriented.
B.
More emphasis on short-run planning in the marketing company era.
C.
More emphasis on selling and advertising in the marketing department era.
D.
There is no difference.
E.
Whether the president of the firm has a background in marketing.
Question #11
The three basic ideas in the "Marketing Concept" are:
A.
Customer satisfaction, resource efficiency, sales unit maximization.
B.
Customer satisfaction, marketing manager as chief executive, profit.
C.
Customer satisfaction, total company effort, sales unit growth.
D.
Customer satisfaction, total company effort, profit.
E.
Resource efficiency, sales growth, profit maximization.
Question #12
The marketing management process is the process of:
A.
Implementing marketing plans.
B.
All of these.
C.
Controlling marketing plans.
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 upfront planning
C.
Inventory planning
D.
Marketing programming
E.
Strategic (management) planning
Question #14
A marketing strategy specifies:
A.
A target market
B.
A target market and a related marketing mix
C.
The resources needed to implement a marketing quant.
D.
A 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.
Marketing mix
B.
4Ps
C.
Channel of distribution
D.
Target market
E.
Marketing requirements
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
ignores markets that are large and spread out
B.
focuses on fairly homogeneous market segments
C.
assumes that all customers are basically the same
D.
is limited to small market segments
Question #17
The "four Ps" of a marketing mix are:
A.
Product, Place, Promotion, and Price
B.
Potential customers, Product, Price, and Personal Selling
C.
Promotion, Production, Price, People
D.
Production, Personnel, Price, and Physical Distribution
E.
Product, Price, Promotion, and Profit
Question #18
Which of the following is NOT considered a product?
A.
A haircut
B.
A chair
C.
All of these are considered products
D.
A computer
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.
Product
C.
Personnel
D.
Place
E.
Promotion
Question #20
"Promotion" includes:
A.
Advertising
B.
All of these may be included in Promotion
C.
Sales Promotion
D.
Publicity
E.
Personal selling
Question #21
Advertising is:
A.
Direct communication between sellers and potential customers.
B.
The designing and distribution of novelties, point-of-purchase materials, store signs, contests, catalogs and circulars.
C.
The main form of publicity
D.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
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.
Product development
D.
Distribution
E.
Publicity
Question #23
A "Marketing Plan" is:
A.
Similar to a public relations strategy
B.
A marketing strategy - plus the time-related details for carrying it out
C.
Similar to a marketing sales promotion
D.
A target market and a generic marketing mix
E.
A plan focused on the necessary operational decisions
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.
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.
Identifies a firm's "strengths, weaknesses, opportunities, and threats."
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.
Market penetration
B.
Product development
C.
Diversification
D.
Market development
Question #26
Which of the following is not an element of the external market environment?
A.
Company environment
B.
Economic environment
C.
Cultural and social environment
D.
Technological environment
E.
Legal 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 avoid.
C.
To communicate the firm's basic reason for being.
D.
To provide detailed goals and plans.
E.
To help firms decide what opportunities to pursue.
Question #28
Overall, company objectives should:
A.
Be compatible with one another.
B.
Be specific
C.
All of these are correct.
D.
Focus on returning some profit to the business.
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.
Objective-centered approach
B.
Resource combination
C.
Competitor matrix
D.
Competitor analysis plan
E.
Sustainable competitive advantage
Question #31
Which of the following statements about the competitive environment is FALSE?
A.
Competition-free environments are rare.
B.
Marketing managers should choose strategies that avoid head-on competition
C.
In a competitor analysis, the firm's first step should be to identify all potential competitors.
D.
Over the long run, most product-markets tend toward monopolistic competition.
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.
Restrict importing into the United States.
B.
Prevent monopolies or consperacies in restraint of trade.
C.
Eliminate price differences among different competing suppliers.
D.
Establish the Calif. State University Protection Agency.
E.
Prevent fraud on the Internet.
Question #33
How is "Segmenting" different from "Combining"?
A.
None of these are correct.
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.
A combiner tries to meet the demand in several segments.
Question #34
A complete product-market definition includes a four-part description comprising all of the following except:
A.
Product types
B.
Customer needs
C.
Marketing mix
D.
Geographic area
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.
Political and legal environment
C.
Competitive environment
D.
Cultural and social environment
E.
Technological environment
Question #36
Which of the following would help prevent marketing mistakes in evaluating international market opportunities?
A.
Save money by cutting research into foreign markets.
B.
Include local citizens in the evaluation process.
C.
Use machine translators.
D.
Assume that all cultures around the world are the same.
E.
Do not "think locally."
Question #37
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.
Champagne
B.
Long-stem roses
C.
A greeting card
D.
A tomato
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.
Generic market
D.
Determining 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.
Identifying broad product markets and segmenting them into narrower target markets.
C.
Identifying small target markets and expanding them into broad product markets.
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.
assorting
B.
mechanical, nonjudgmental
C.
"clustering" or aggregating
D.
"breaking apart" or disaggregatingg
Question #42
When deciding how far to carry the segmentation process …
A.
The threat of potential competitors suggests more aggregating.
B.
All of these alternatives are true.
C.
It is easier to develop effective marketing mixes for larger, more heterogeneous segments.
D.
Profit should be the balancing point - determining how unique a marketing mix the firm can offer to some target market.
Question #43
Which of the following is a BEHAVIORAL segmenting dimension?
A.
Income
B.
Needs
C.
Region of the world or country
D.
Education
Question #44
Which of the following is a consumer market demographic dimension?
A.
Occupation
B.
Sex
C.
All of these are examples of a consumer market demographic dimension
D.
Education
E.
Age
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.
Random Clustering
B.
None of these
C.
Positioning
D.
Dynamic behavioral segmentation.
E.
AIC analysis
Question #46
A.
Clustering approach
B.
Generic market
C.
Aggregating approach
D.
CRM database
Question #47
Positioning Maps are based on:
A.
The actual objective characteristics of products.
B.
The potential places where a product may be sold and purchased.
C.
Customers' perceptions of products
D.
The opinions of the marketing managers.
Question #48
An economic buyer is a person who:
A.
Makes buying decisions based only on price.
B.
Is averse to spending time and money.
C.
Logically compares choices to get the greatest satisfaction from spending time and money.
D.
Will not pay extra for convenience.
Question #49
Discretionary income is defined as:
A.
Income available after taxes.
B.
Income available after taxes and necessities.
C.
Gross domestic product per capita.
D.
Total market value of goods and services produced.
E.
Income available before taxes.
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.
Motivation
C.
Age
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.
The "economic-buyer" model of buyer behavior
B.
Satisfying a want
C.
Satisfying a need
D.
All of these are equally good answers
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.
Social, personal, safety, and physiological needs.
C.
Personal, social, safety, and physiological needs.
D.
safety, personal, social, 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.
Selective exposure
C.
Focal socialization
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 exposure
B.
Selective calculation
C.
Reinforced cognition
D.
Selective organization
Question #56
The order of the steps in the learning process is:
A.
reinforcement, drive, cue, response
B.
Cue, response, drive, reinforcement
C.
None of these alternatives is correct
D.
Drive, cue, response, reinforcement
Question #57
Attitudes are:
A.
usually thought of as involving liking or disliking
B.
Things we believe strongly enough to be willing to take some action
C.
All of these alternatives are correct.
D.
more action-oriented than beliefs
E.
reasonably enduring points of view about something
Question #58
Which of the following would be the most difficult task facing a marketing manager?
A.
Change existing negative attitudes.
B.
Strengthen existing positive attitudes.
C.
Discover the attitudes of the firm's target market.
D.
Create new attitudes toward his or her brand.
Question #59
Psychographics may also be called:
A.
Social group dynamics
B.
Personality analytics
C.
Lifestyle analysis
D.
Opinion insight
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.
A source
B.
A channel captain
C.
An opinion leader
D.
A consumer advocate
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.
Motivation
B.
Learned set
C.
Culture
D.
Personal environment
E.
Opinion set
Question #63
Which of the following statements accurately compares marketing to final consumers with marketing to organizational customers?
A.
Marketing to organizations is just like marketing to final consumers.
B.
Business-to-business marketing includes marketing to final consumers.
C.
Firms may choose to serve either organizational buyers or final consumers, but not both.
D.
Purchasing decisions by organizational buyers are usually more economic and less emotional as compared to consumers.
Question #64
After conducting a vendor analysis on potential suppliers, purchasing managers are likely to choose the vendor that:
A.
Offers lowest price.
B.
Offers AEG certification.
C.
Offers widest assortment
D.
Enables the firm to operate more efficiently with the least risks.
Question #65
Suppliers to businesses often:
A.
Provide info. about industry trends
B.
All of these answers are correct
C.
Serve as technical consultants to their customers.
D.
Provide J.I.T. delivery
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.
All of these alternatives are correct.
D.
NAICS codes may help in segmenting manufacturers but not producers of services.
Question #67
A purchasing manager:
A.
May specialize by product area if he/she works for a large organization.
B.
Is basically a clerk who fills out paperwork to place orders.
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 only interested in finding the lowest possible price for a product.
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.
New-task
C.
Extensive problem-solving
D.
Straight rebuy
Question #69
__________ refers to a producer (i.e. Nestle) reliably getting products delivered exactly before the customer (i.e. Walmart) needs them.
A.
Effective gatekeeping
B.
Just-in-time delivery
C.
Total quality shipping
D.
Assured outsourcing
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 logistics system
B.
Marketing information system
C.
Marketing status project
D.
Marketing model
E.
Marketing processing dept.
Question #72
________________ are educated guesses about the relationships between things or about what will happen in the future.
A.
Hypotheses
B.
Marketing Z modeling
C.
Situation analyses
D.
Progressions
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, defining the problem, getting problem-specific data, interpreting the data, solving the problem.
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.
Data warehouse
B.
Experiment
C.
Hypothesis testing
D.
Situation analysis
E.
Intranet
Question #75
Data (Information) that has already been collected or published is:
A.
Primary data
B.
Eisner data
C.
Secondary data
D.
Recycle data
Question #76
Secondary data:
A.
All of these alternatives are correct.
B.
Should be considered before primary data is collected.
C.
Is often all that is needed to solve a problem.
D.
May not be specific enough to answer the question under consideration.
Question #77
Which of the following would be a source of Primary data?
A.
Historical company records on sales, costs, and advertising for the past ten years.
B.
None of these is a good choice
C.
U.S. Census Bureau reports
D.
Company implemented specific market research tests to gather new data.
E.
A Google search
Question #78
Qualitative research, compared to Quantitative research:
A.
Relies on open-ended questioning
B.
Asks yes or no type questions
C.
Provides more representative samples of consumers
D.
Asks closed-ended questions
Question #79
Marketing research which seeks structured responses that can be summarized is called:
A.
Open-ended reserach
B.
Focus group research
C.
Situation analysis reserach
D.
Quantitative research
Question #80
Information is obtained on a continuing basis from the same respondents using a:
A.
Consumer panel
B.
Consumer experiment
C.
Statistical package
D.
Responder group
E.
Contributor group
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