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.
Marketing begins with anticipating potential customer needs.
B.
Marketing should take over production, accounting, and financial services within a firm.
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.
Macro-Marketing
B.
Standardization and grading
C.
Micro-Marketing
D.
Social quant. analysis
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.
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.
Marketing managers
B.
Government analysts
C.
Consumer action groups
D.
Intermediaries
Question #5
Which of the following types of firms are collaborators?
A.
Product-testing labs
B.
Marketing research firms
C.
All of these are collaborators
D.
Advertising agencies
E.
Overnight delivery firms
Question #6
In a command economy:
A.
Prices usually fluctuate according to supply and demand.
B.
Producers have a lot of choice about what and how much to produce.
C.
Marketing activities such as advertising, branding, and market research are encouraged.
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.
Cost of labor and materials
B.
The number of producers
C.
Inventories
D.
Discrepancies of quantity
E.
Prices
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Production
B.
Marketing Company
C.
Marketing Department
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, entrepreneurial, marketing company
B.
Simple trade, production, sales, marketing department, international trading
C.
Simple trade, production, sales, marketing company, marketing department
D.
Subsistence, production, sales, entrepreneurial, marketing company
E.
Simple trade, production, sales, marketing department, marketing company
Question #10
The main difference between the "Marketing Department era" and the "Marketing Company era" is:
A.
More emphasis on selling and advertising in the marketing department era.
B.
There is no difference.
C.
More emphasis on short-run planning in the marketing company era.
D.
Whether the whole company is customer-oriented.
E.
Whether the president of the firm has a background in marketing.
Question #11
The three basic ideas in the "Marketing Concept" are:
A.
Resource efficiency, sales growth, profit maximization.
B.
Customer satisfaction, resource efficiency, sales unit maximization.
C.
Customer satisfaction, total company effort, sales unit growth.
D.
Customer satisfaction, marketing manager as chief executive, profit.
E.
Customer satisfaction, total company effort, profit.
Question #12
The marketing management process is the process of:
A.
Planning marketing activities.
B.
Controlling marketing plans.
C.
All of these.
D.
Implementing 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 programming
B.
Strategic (management) planning
C.
Management by objective
D.
Marketing upfront planning
E.
Inventory planning
Question #14
A marketing strategy specifies:
A.
The resources needed to implement a marketing quant.
B.
A target market and a related marketing mix
C.
A target market
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.
Marketing requirements
D.
Target market
E.
Channel of distribution
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
is limited to small market segments
B.
assumes that all customers are basically the same
C.
focuses on fairly homogeneous market segments
D.
ignores markets that are large and spread out
Question #17
The "four Ps" of a marketing mix are:
A.
Production, Personnel, Price, and Physical Distribution
B.
Promotion, Production, Price, People
C.
Product, Place, Promotion, and Price
D.
Product, Price, Promotion, and Profit
E.
Potential customers, Product, Price, and Personal Selling
Question #18
Which of the following is NOT considered a product?
A.
All of these are considered products
B.
A haircut
C.
A computer
D.
Tax advice from a financial consultant
E.
A chair
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.
Place
C.
Promotion
D.
Personnel
E.
Product
Question #20
"Promotion" includes:
A.
All of these may be included in Promotion
B.
Advertising
C.
Publicity
D.
Sales Promotion
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.
All of these are included in Advertising
E.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
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.
Publicity
C.
Distribution
D.
Market penetration
E.
Product development
Question #23
A "Marketing Plan" is:
A.
A plan focused on the necessary operational decisions
B.
Similar to a public relations strategy
C.
Similar to a marketing sales promotion
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.
Seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips."
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.
Identifies a firm's "strengths, weaknesses, opportunities, and threats."
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.
Market development
D.
Diversification
Question #26
Which of the following is not an element of the external market environment?
A.
Company environment
B.
Cultural and social environment
C.
Economic environment
D.
Legal environment
E.
Technological environment
Question #27
A mission statement has the following purposes except:
A.
To provide detailed goals and plans.
B.
To help firms decide what opportunities to avoid.
C.
To keep managers working towards a common purpose.
D.
To help firms decide what opportunities to pursue.
E.
To communicate the firm's basic reason for being.
Question #28
Overall, company objectives should:
A.
Be specific
B.
All of these are correct.
C.
Be realistic and achievable.
D.
Focus on returning some profit to the business.
E.
Be compatible with one another.
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, promotion objectives,sales promotion objectives, company objectives.
B.
Company objectives, marketing objectives, promotion objectives, sales promotion objectives.
C.
Company objectives, sales promotion objectives, marketing objectives, 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.
Objective-centered approach
B.
Competitor analysis plan
C.
Competitor matrix
D.
Resource combination
E.
Sustainable competitive advantage
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.
Over the long run, most product-markets tend toward monopolistic competition.
D.
Marketing managers should choose strategies that avoid head-on competition
E.
Competition-free environments are rare.
Question #32
The Sherman Act sought to:
A.
Restrict importing into the United States.
B.
Prevent monopolies or consperacies in restraint of trade.
C.
Establish the Calif. State University Protection Agency.
D.
Eliminate price differences among different competing suppliers.
E.
Prevent fraud on the Internet.
Question #33
How is "Segmenting" different from "Combining"?
A.
A combiner tries to meet the demand in several segments.
B.
None of these are correct.
C.
A segmenter assumes that a broad product market consists of a homogeneous group of customers.
D.
Combiners usually have more sales potential than segmenters.
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.
Product types
D.
Marketing mix
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.
Competitive environment
C.
Cultural and social environment
D.
Political and legal environment
E.
Economic 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.
Assume that all cultures around the world are the same.
D.
Use machine translators.
E.
Do not "think locally."
Question #37
A.
Identifying as many market opportunities as can be imagined.
B.
Creating products that managers like.
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.
Long-stem roses
B.
Champagne
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.
Qualifying market
B.
Generic market
C.
Determining market
D.
Product-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.
Selecting a marketing mix to reach everyone and then going to lunch at Chipotle Mexican Grill.
C.
Identifying target groups with the fewest potential customers and making subsets of these.
D.
Identifying broad product markets and segmenting them into narrower target markets.
Question #41
According to the textbook, segmenting should be viewed as a(n) ______________ process.
A.
assorting
B.
"breaking apart" or disaggregatingg
C.
mechanical, nonjudgmental
D.
"clustering" or aggregating
Question #42
When deciding how far to carry the segmentation process …
A.
All of these alternatives are true.
B.
Profit should be the balancing point - determining how unique a marketing mix the firm can offer to some target market.
C.
The threat of potential competitors suggests more aggregating.
D.
It is easier to develop effective marketing mixes for larger, more heterogeneous segments.
Question #43
Which of the following is a BEHAVIORAL segmenting dimension?
A.
Needs
B.
Income
C.
Region of the world or country
D.
Education
Question #44
Which of the following is a consumer market demographic dimension?
A.
Sex
B.
All of these are examples of a consumer market demographic dimension
C.
Occupation
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.
None of these
B.
Dynamic behavioral segmentation.
C.
Positioning
D.
Random Clustering
E.
AIC analysis
Question #46
A.
Generic market
B.
CRM database
C.
Aggregating approach
D.
Clustering approach
Question #47
Positioning Maps are based on:
A.
The actual objective characteristics of products.
B.
Customers' perceptions of products
C.
The opinions of the marketing managers.
D.
The potential places where a product may be sold and purchased.
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 and necessities.
B.
Total market value of goods and services produced.
C.
Income available before taxes.
D.
Income available after taxes.
E.
Gross domestic product per capita.
Question #50
The "economic-buyer" model:
A.
None of these is true of the economic-buyer model.
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.
Assumes that buyers don't have enough information to make logical choices - and as a result buy products that are not a good value.
Question #51
Which of the following is NOT a psychological variable?
A.
Age
B.
Perception
C.
Motivation
D.
Learning
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.
Selective exposure
B.
Selective learning
C.
Selective perception
D.
Focal socialization
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.
Selective calculation
C.
Reinforced cognition
D.
Selective exposure
Question #56
The order of the steps in the learning process is:
A.
reinforcement, drive, cue, response
B.
Cue, response, drive, reinforcement
C.
Drive, cue, response, reinforcement
D.
None of these alternatives is correct
Question #57
Attitudes are:
A.
more action-oriented than beliefs
B.
All of these alternatives are correct.
C.
Things we believe strongly enough to be willing to take some action
D.
usually thought of as involving liking or disliking
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.
Strengthen existing positive attitudes.
B.
Change existing negative attitudes.
C.
Create new attitudes toward his or her brand.
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.
Grandparents
B.
Reference group
C.
Family
D.
CSUN instructor
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.
Personal environment
B.
Motivation
C.
Learned set
D.
Culture
E.
Opinion set
Question #63
Which of the following statements accurately compares marketing to final consumers with marketing to organizational customers?
A.
Purchasing decisions by organizational buyers are usually more economic and less emotional as compared to 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.
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 widest assortment
B.
Enables the firm to operate more efficiently with the least risks.
C.
Offers lowest price.
D.
Offers AEG certification.
Question #65
Suppliers to businesses often:
A.
Provide info. about industry trends
B.
Provide J.I.T. delivery
C.
All of these answers are correct
D.
Serve as technical consultants to their customers.
Question #66
If a firm targets business and organizational markets, ....
A.
NAICS codes may help in segmenting manufacturers but not producers of services.
B.
the geographic location of the customer is likely to be less important than in segmenting consumer markets.
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.
Is only interested in finding the lowest possible price for a product.
C.
May specialize by product area if he/she works for a large organization.
D.
Is the only person a business-to-business salesperson ever needs to see in order to make a sale to a buying 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.
Assured outsourcing
C.
Total quality shipping
D.
Effective gatekeeping
Question #70
________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
A.
Marketing planning
B.
Marketing structure
C.
Marketing Research
D.
Marketing processing
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 logistics system
C.
Marketing processing dept.
D.
Marketing status project
E.
Marketing model
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.
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.
Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem.
D.
Analyzing the situation, defining the problem, 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.
Hypothesis testing
D.
Situation analysis
E.
Intranet
Question #75
Data (Information) that has already been collected or published is:
A.
Primary data
B.
Recycle data
C.
Eisner data
D.
Secondary data
Question #76
Secondary data:
A.
May not be specific enough to answer the question under consideration.
B.
Is often all that is needed to solve a problem.
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.
Company implemented specific market research tests to gather new data.
B.
None of these is a good choice
C.
U.S. Census Bureau reports
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.
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.
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.
Responder group
B.
Statistical package
C.
Consumer experiment
D.
Contributor group
E.
Consumer panel
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