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.
Production, not Marketing, should determine what goods and services are to be developed.
C.
Marketing should take over production, accounting, and financial services within a firm.
D.
The job of Marketing is to get rid of whatever the company is producing.
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.
Social quant. analysis
B.
Micro-Marketing
C.
Macro-Marketing
D.
Standardization and grading
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.
Discrepancies of assortment
B.
Spatial separation
C.
All of these are correct.
D.
Separation of values
Question #4
Since individual firms cannot perform all Marketing functions, _____________ often play a role in the exchange process.
A.
Government analysts
B.
Intermediaries
C.
Marketing managers
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.
Advertising agencies
E.
Marketing research firms
Question #6
In a command economy:
A.
Producers have a lot of choice about what and how much to produce.
B.
Prices usually fluctuate according to supply and demand.
C.
Economies have little variety, so consumers have few choices.
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.
Discrepancies of quantity
B.
Inventories
C.
The number of producers
D.
Prices
E.
Cost of labor and materials
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Marketing Department
B.
Simple Trade
C.
Marketing Company
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, marketing company, marketing department
B.
Simple trade, production, sales, marketing department, international trading
C.
Subsistence, production, sales, entrepreneurial, marketing company
D.
Simple trade, production, sales, marketing department, 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 whole company is customer-oriented.
B.
More emphasis on short-run planning in the marketing company era.
C.
There is no difference.
D.
Whether the president of the firm has a background in marketing.
E.
More emphasis on selling and advertising in the marketing department era.
Question #11
The three basic ideas in the "Marketing Concept" are:
A.
Resource efficiency, sales growth, profit maximization.
B.
Customer satisfaction, total company effort, sales unit growth.
C.
Customer satisfaction, resource efficiency, sales unit maximization.
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.
Controlling marketing plans.
B.
All of these.
C.
Planning marketing activities.
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 upfront planning
B.
Marketing programming
C.
Strategic (management) planning
D.
Inventory planning
E.
Management by objective
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.
Target market
B.
Channel of distribution
C.
Marketing mix
D.
Marketing requirements
E.
4Ps
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
focuses on fairly homogeneous market segments
B.
ignores markets that are large and spread out
C.
is limited to small market segments
D.
assumes that all customers are basically the same
Question #17
The "four Ps" of a marketing mix are:
A.
Potential customers, Product, Price, and Personal Selling
B.
Product, Place, Promotion, and Price
C.
Product, Price, Promotion, and Profit
D.
Promotion, Production, Price, People
E.
Production, Personnel, Price, and Physical Distribution
Question #18
Which of the following is NOT considered a product?
A.
All of these are considered products
B.
A chair
C.
Tax advice from a financial consultant
D.
A haircut
E.
A computer
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.
Place
E.
Product
Question #20
"Promotion" includes:
A.
Advertising
B.
All of these may be included in Promotion
C.
Publicity
D.
Sales Promotion
E.
Personal selling
Question #21
Advertising is:
A.
The designing and distribution of novelties, point-of-purchase materials, store signs, contests, catalogs and circulars.
B.
The main form of publicity
C.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
D.
Direct communication between sellers and potential customers.
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.
Distribution
B.
Sales Promotion
C.
Market penetration
D.
Product development
E.
Publicity
Question #23
A "Marketing Plan" is:
A.
A target market and a generic marketing mix
B.
Similar to a public relations strategy
C.
A marketing strategy - plus the time-related details for carrying it out
D.
A plan focused on the necessary operational decisions
E.
Similar to a marketing sales promotion
Question #24
A "S.W.O.T." analysis:
A.
Summarizes a firm's "strategy, wishes (of its customers), outlook and tactics."
B.
Identifies a firm's "strengths, weaknesses, opportunities, and threats."
C.
Helps defend against potential competitors by developing a set of competitive "Safeguards, weapons, offensives, and tactics."
D.
Seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips."
E.
Focuses on what a firm plans to do to "Satisfy Wishes of a Target" customer.
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.
Diversification
C.
Market development
D.
Product development
Question #26
Which of the following is not an element of the external market environment?
A.
Economic environment
B.
Technological environment
C.
Legal environment
D.
Company environment
E.
Cultural and social environment
Question #27
A mission statement has the following purposes except:
A.
To provide detailed goals and plans.
B.
To keep managers working towards a common purpose.
C.
To communicate the firm's basic reason for being.
D.
To help firms decide what opportunities to pursue.
E.
To help firms decide what opportunities to avoid.
Question #28
Overall, company objectives should:
A.
Be compatible with one another.
B.
Focus on returning some profit to the business.
C.
Be specific
D.
Be realistic and achievable.
E.
All of these are correct.
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, sales promotion objectives, marketing objectives, promotion 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.
Sustainable competitive advantage
B.
Resource combination
C.
Competitor analysis plan
D.
Objective-centered approach
E.
Competitor matrix
Question #31
Which of the following statements about the competitive environment is FALSE?
A.
Over the long run, most product-markets tend toward monopolistic competition.
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.
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.
Establish the Calif. State University Protection Agency.
B.
Eliminate price differences among different competing suppliers.
C.
Prevent monopolies or consperacies in restraint of trade.
D.
Restrict importing into the United States.
E.
Prevent fraud on the Internet.
Question #33
How is "Segmenting" different from "Combining"?
A.
Combiners usually have more sales potential than segmenters.
B.
A combiner tries to meet the demand in several segments.
C.
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.
Customer needs
B.
Customer types
C.
Product types
D.
Geographic area
E.
Marketing mix
Question #35
A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the:
A.
Competitive environment
B.
Economic environment
C.
Technological environment
D.
Political and legal environment
E.
Cultural and social environment
Question #36
Which of the following would help prevent marketing mistakes in evaluating international market opportunities?
A.
Assume that all cultures around the world are the same.
B.
Use machine translators.
C.
Do not "think locally."
D.
Include local citizens in the evaluation process.
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.
Figuring out how to offer products at the lowest possible price.
C.
Creating products that managers like.
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.
A greeting card
C.
A tomato
D.
Long-stem roses
Question #39
When you are "in the market" for a new car, and are considering different brands to purchase, what type of market is involved?
A.
Product-market
B.
Determining market
C.
Generic market
D.
Qualifying market
Question #40
The process of market segmentation is a two-step process that involves:
A.
Identifying target groups with the fewest potential customers and making subsets of these.
B.
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.
assorting
B.
"clustering" or aggregating
C.
mechanical, nonjudgmental
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.
Profit should be the balancing point - determining how unique a marketing mix the firm can offer to some target market.
C.
All of these alternatives are true.
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.
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.
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.
Positioning
C.
Random Clustering
D.
AIC analysis
E.
Dynamic behavioral segmentation.
Question #46
A.
CRM database
B.
Clustering approach
C.
Aggregating approach
D.
Generic market
Question #47
Positioning Maps are based on:
A.
The potential places where a product may be sold and purchased.
B.
The actual objective characteristics of products.
C.
The opinions of the marketing managers.
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.
Income available before taxes.
B.
Income available after taxes.
C.
Total market value of goods and services produced.
D.
Gross domestic product per capita.
E.
Income available after taxes and necessities.
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.
None of these is true of the economic-buyer model.
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.
Learning
B.
Age
C.
Attitudes
D.
Perception
E.
Motivation
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.
Social, personal, safety, and physiological needs.
B.
Personal, social, safety, and physiological needs.
C.
Physiological, safety, social, and personal 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 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 calculation
B.
Selective exposure
C.
Reinforced cognition
D.
Selective organization
Question #56
The order of the steps in the learning process is:
A.
reinforcement, drive, cue, response
B.
Drive, cue, response, reinforcement
C.
None of these alternatives is correct
D.
Cue, response, drive, reinforcement
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.
reasonably enduring points of view about something
E.
usually thought of as involving liking or disliking
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.
Opinion insight
B.
Lifestyle analysis
C.
Social group dynamics
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.
Family
C.
CSUN instructor
D.
Grandparents
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 channel captain
C.
A consumer advocate
D.
A source
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.
Opinion set
B.
Learned set
C.
Personal environment
D.
Culture
E.
Motivation
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.
Firms may choose to serve either organizational buyers or final consumers, but not both.
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.
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 info. about industry trends
C.
Provide J.I.T. delivery
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.
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 only interested in finding the lowest possible price for a product.
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.
Modified rebuy
B.
New-task
C.
Straight rebuy
D.
Extensive problem-solving
Question #69
__________ refers to a producer (i.e. Nestle) reliably getting products delivered exactly before the customer (i.e. Walmart) needs them.
A.
Total quality shipping
B.
Assured outsourcing
C.
Just-in-time delivery
D.
Effective gatekeeping
Question #70
________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
A.
Marketing structure
B.
Marketing processing
C.
Marketing Research
D.
Marketing planning
Question #71
________________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
A.
Marketing 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.
Situation analyses
B.
Data quants
C.
Marketing Z modeling
D.
Progressions
E.
Hypotheses
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.
Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem.
C.
Analyzing the situation, getting problem-specific data, interpreting the data, defining the problem, 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.
Data warehouse
B.
Situation analysis
C.
Intranet
D.
Experiment
E.
Hypothesis testing
Question #75
Data (Information) that has already been collected or published is:
A.
Secondary data
B.
Primary data
C.
Recycle data
D.
Eisner data
Question #76
Secondary data:
A.
Is often all that is needed to solve a problem.
B.
All of these alternatives are correct.
C.
May not be specific enough to answer the question under consideration.
D.
Should be considered before primary data is collected.
Question #77
Which of the following would be a source of Primary data?
A.
A Google search
B.
Company implemented specific market research tests to gather new data.
C.
Historical company records on sales, costs, and advertising for the past ten years.
D.
U.S. Census Bureau reports
E.
None of these is a good choice
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.
Focus group research
B.
Situation analysis reserach
C.
Open-ended reserach
D.
Quantitative research
Question #80
Information is obtained on a continuing basis from the same respondents using a:
A.
Statistical package
B.
Responder group
C.
Contributor group
D.
Consumer experiment
E.
Consumer panel
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