MKT 304 - Marketing Management » Fall 2022 » Test 1
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ MKT 304 - Marketing Management ] course for $25 USD.
Existing Quiz Clients Login here
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 is concerned with generating a single exchange between a firm and a customer.
C.
Marketing should take over production, accounting, and financial services within a firm.
D.
Production, not Marketing, should determine what goods and services are to be developed.
E.
Marketing begins with anticipating potential customer needs.
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.
Micro-Marketing
D.
The transporting function
E.
Macro-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.
Spatial separation
B.
Discrepancies of assortment
C.
Separation of values
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.
Intermediaries
B.
Marketing managers
C.
Government analysts
D.
Consumer action groups
Question #5
Which of the following types of firms are collaborators?
A.
Overnight delivery firms
B.
All of these are collaborators
C.
Product-testing labs
D.
Marketing research firms
E.
Advertising agencies
Question #6
In a command economy:
A.
Producers have a lot of choice about what and how much to produce.
B.
Marketing activities such as advertising, branding, and market research are encouraged.
C.
Prices usually fluctuate according to supply and demand.
D.
Economies have little variety, so consumers have few choices.
Question #7
__________ in the marketplace are a rough measure of how society values particular goods and services.
A.
Discrepancies of quantity
B.
Inventories
C.
Prices
D.
Cost of labor and materials
E.
The number of producers
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Simple Trade
B.
Marketing Company
C.
Production
D.
Marketing Department
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 department, international trading
C.
Simple trade, production, sales, marketing department, marketing company
D.
Subsistence, production, sales, entrepreneurial, marketing company
E.
Simple trade, production, sales, marketing company, marketing department
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.
More emphasis on selling and advertising in the marketing department era.
C.
Whether the whole company is customer-oriented.
D.
More emphasis on short-run planning in the marketing company 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.
Customer satisfaction, total company effort, sales unit growth.
D.
Customer satisfaction, marketing manager as chief executive, profit.
E.
Resource efficiency, sales growth, profit maximization.
Question #12
The marketing management process is the process of:
A.
All of these.
B.
Implementing marketing plans.
C.
Planning marketing activities.
D.
Controlling marketing plans.
Question #13
The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
A.
Marketing upfront planning
B.
Management by objective
C.
Inventory planning
D.
Marketing programming
E.
Strategic (management) planning
Question #14
A marketing strategy specifies:
A.
A target market and a related marketing mix
B.
A target market
C.
A marketing mix
D.
The resources needed to implement a marketing quant.
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 mix
C.
Target market
D.
Marketing requirements
E.
Channel of distribution
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
ignores markets that are large and spread out
B.
assumes that all customers are basically the same
C.
focuses on fairly homogeneous market segments
D.
is limited to small market segments
Question #17
The "four Ps" of a marketing mix are:
A.
Product, Place, Promotion, and Price
B.
Product, Price, Promotion, and Profit
C.
Production, Personnel, Price, and Physical Distribution
D.
Potential customers, Product, Price, and Personal Selling
E.
Promotion, Production, Price, People
Question #18
Which of the following is NOT considered a product?
A.
A computer
B.
A chair
C.
Tax advice from a financial consultant
D.
All of these are considered products
E.
A haircut
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.
Personnel
B.
Price
C.
Promotion
D.
Product
E.
Place
Question #20
"Promotion" includes:
A.
All of these may be included in Promotion
B.
Advertising
C.
Personal selling
D.
Publicity
E.
Sales Promotion
Question #21
Advertising is:
A.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
B.
Direct communication between sellers and potential customers.
C.
All of these are included in Advertising
D.
The main form of publicity
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.
Market penetration
B.
Distribution
C.
Publicity
D.
Sales Promotion
E.
Product development
Question #23
A "Marketing Plan" is:
A.
A marketing strategy - plus the time-related details for carrying it out
B.
A plan focused on the necessary operational decisions
C.
A target market and a generic marketing mix
D.
Similar to a marketing sales promotion
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.
Summarizes a firm's "strategy, wishes (of its customers), outlook and tactics."
C.
Helps defend against potential competitors by developing a set of competitive "Safeguards, weapons, offensives, and tactics."
D.
Focuses on what a firm plans to do to "Satisfy Wishes of a Target" customer.
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.
Diversification
B.
Product development
C.
Market development
D.
Market penetration
Question #26
Which of the following is not an element of the external market environment?
A.
Economic environment
B.
Legal environment
C.
Technological environment
D.
Cultural and social environment
E.
Company 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 help firms decide what opportunities to pursue.
D.
To communicate the firm's basic reason for being.
E.
To provide detailed goals and plans.
Question #28
Overall, company objectives should:
A.
Be realistic and achievable.
B.
Focus on returning some profit to the business.
C.
Be compatible with one another.
D.
All of these are correct.
E.
Be specific
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.
Objective-centered approach
C.
Sustainable competitive advantage
D.
Competitor analysis plan
E.
Competitor matrix
Question #31
Which of the following statements about the competitive environment is FALSE?
A.
A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage.
B.
In a competitor analysis, the firm's first step should be to identify all potential competitors.
C.
Competition-free environments are rare.
D.
Marketing managers should choose strategies that avoid head-on competition
E.
Over the long run, most product-markets tend toward monopolistic competition.
Question #32
The Sherman Act sought to:
A.
Eliminate price differences among different competing suppliers.
B.
Restrict importing into the United States.
C.
Prevent fraud on the Internet.
D.
Establish the Calif. State University Protection Agency.
E.
Prevent monopolies or consperacies in restraint of trade.
Question #33
How is "Segmenting" different from "Combining"?
A.
A segmenter assumes that a broad product market consists of a homogeneous group of customers.
B.
A combiner tries to meet the demand in several segments.
C.
Combiners usually have more sales potential than segmenters.
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.
Customer types
C.
Marketing mix
D.
Product types
E.
Customer needs
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.
Technological environment
B.
Cultural and social environment
C.
Political and legal environment
D.
Competitive environment
E.
Economic environment
Question #36
Which of the following would help prevent marketing mistakes in evaluating international market opportunities?
A.
Include local citizens in the evaluation process.
B.
Assume that all cultures around the world are the same.
C.
Use machine translators.
D.
Do not "think locally."
E.
Save money by cutting research into foreign markets.
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.
Figuring out how to offer products at the lowest possible price.
D.
Identifying as many market opportunities as can be imagined.
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.
Determining market
B.
Generic market
C.
Product-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.
Identifying broad product markets and segmenting them into narrower target markets.
C.
Selecting a marketing mix to reach everyone and then going to lunch at Chipotle Mexican Grill.
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.
mechanical, nonjudgmental
B.
"breaking apart" or disaggregatingg
C.
assorting
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.
All of these alternatives are true.
C.
The threat of potential competitors suggests more aggregating.
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.
Region of the world or country
B.
Income
C.
Needs
D.
Education
Question #44
Which of the following is a consumer market demographic dimension?
A.
Education
B.
Occupation
C.
All of these are examples of a consumer market demographic dimension
D.
Age
E.
Sex
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.
AIC analysis
C.
Dynamic behavioral segmentation.
D.
Positioning
E.
Random Clustering
Question #46
A.
CRM database
B.
Clustering approach
C.
Aggregating approach
D.
Generic market
Question #47
Positioning Maps are based on:
A.
The opinions of the marketing managers.
B.
The potential places where a product may be sold and purchased.
C.
Customers' perceptions of products
D.
The actual objective characteristics of products.
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.
Makes buying decisions based only on price.
D.
Logically compares choices to get the greatest satisfaction from spending time and money.
Question #49
Discretionary income is defined as:
A.
Income available before taxes.
B.
Total market value of goods and services produced.
C.
Income available after taxes.
D.
Gross domestic product per capita.
E.
Income available after taxes and necessities.
Question #50
The "economic-buyer" model:
A.
Suggests that men and women behave differently as buyers.
B.
Assumes that buyers don't have enough information to make logical choices - and as a result buy products that are not a good value.
C.
Is seen as too simplistic by most marketing managers to explain consumer behavior..
D.
None of these is true of the economic-buyer model.
Question #51
Which of the following is NOT a psychological variable?
A.
Age
B.
Learning
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 want
B.
Satisfying a need
C.
The "economic-buyer" model of buyer behavior
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.
safety, personal, social, and physiological needs.
B.
Personal, social, safety, and physiological needs.
C.
Physiological, safety, social, and personal 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 learning
B.
Focal socialization
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.
Drive, cue, response, reinforcement
B.
Cue, response, drive, reinforcement
C.
None of these alternatives is correct
D.
reinforcement, drive, cue, response
Question #57
Attitudes are:
A.
usually thought of as involving liking or disliking
B.
more action-oriented than beliefs
C.
All of these alternatives are correct.
D.
reasonably enduring points of view about something
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.
Change existing negative attitudes.
B.
Create new attitudes toward his or her brand.
C.
Strengthen existing positive attitudes.
D.
Discover the attitudes of the firm's target market.
Question #59
Psychographics may also be called:
A.
Social group dynamics
B.
Opinion insight
C.
Lifestyle analysis
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.
CSUN instructor
B.
Grandparents
C.
Family
D.
Reference group
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 consumer advocate
C.
A channel captain
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.
Personal environment
B.
Culture
C.
Motivation
D.
Opinion set
E.
Learned 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.
Purchasing decisions by organizational buyers are usually more economic and less emotional as compared to consumers.
C.
Firms may choose to serve either organizational buyers or final consumers, but not both.
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.
Offers widest assortment
B.
Offers lowest price.
C.
Enables the firm to operate more efficiently with the least risks.
D.
Offers AEG certification.
Question #65
Suppliers to businesses often:
A.
Serve as technical consultants to their customers.
B.
Provide J.I.T. delivery
C.
Provide info. about industry trends
D.
All of these answers are correct
Question #66
If a firm targets business and organizational markets, ....
A.
the geographic location of the customer is likely to be less important than in segmenting consumer markets.
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.
All of these alternatives are correct.
Question #67
A purchasing manager:
A.
Is basically a clerk who fills out paperwork to place orders.
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 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.
Straight rebuy
B.
Extensive problem-solving
C.
New-task
D.
Modified 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.
Assured outsourcing
D.
Total quality shipping
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 model
B.
Marketing processing dept.
C.
Marketing logistics system
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.
Hypotheses
B.
Marketing Z modeling
C.
Progressions
D.
Data quants
E.
Situation analyses
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.
Analyzing the situation, getting problem-specific data, interpreting the data, defining the problem, 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.
Experiment
B.
Data warehouse
C.
Intranet
D.
Situation analysis
E.
Hypothesis testing
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.
U.S. Census Bureau reports
B.
Historical company records on sales, costs, and advertising for the past ten years.
C.
Company implemented specific market research tests to gather new data.
D.
A Google search
E.
None of these is a good choice
Question #78
Qualitative research, compared to Quantitative research:
A.
Relies on open-ended questioning
B.
Provides more representative samples of consumers
C.
Asks closed-ended questions
D.
Asks yes or no type questions
Question #79
Marketing research which seeks structured responses that can be summarized is called:
A.
Situation analysis reserach
B.
Open-ended reserach
C.
Focus group research
D.
Quantitative research
Question #80
Information is obtained on a continuing basis from the same respondents using a:
A.
Statistical package
B.
Consumer experiment
C.
Consumer panel
D.
Responder group
E.
Contributor group
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ MKT 304 - Marketing Management ] course for $25 USD.
Existing Quiz Clients Login here