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.
Production, not Marketing, should determine what goods and services are to be developed.
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.
The job of Marketing is to get rid of whatever the company is producing.
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.
Social quant. analysis
B.
Micro-Marketing
C.
Standardization and grading
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.
Separation of values
C.
Discrepancies of assortment
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.
Consumer action groups
C.
Government analysts
D.
Intermediaries
Question #5
Which of the following types of firms are collaborators?
A.
Advertising agencies
B.
Product-testing labs
C.
All of these are collaborators
D.
Overnight delivery firms
E.
Marketing research firms
Question #6
In a command economy:
A.
Marketing activities such as advertising, branding, and market research are encouraged.
B.
Economies have little variety, so consumers have few choices.
C.
Prices usually fluctuate according to supply and demand.
D.
Producers have a lot of choice about what and how much to produce.
Question #7
__________ in the marketplace are a rough measure of how society values particular goods and services.
A.
Cost of labor and materials
B.
Discrepancies of quantity
C.
Inventories
D.
The number of producers
E.
Prices
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Simple Trade
B.
Marketing Department
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, entrepreneurial, marketing company
B.
Subsistence, production, sales, entrepreneurial, marketing company
C.
Simple trade, production, sales, marketing company, marketing department
D.
Simple trade, production, sales, marketing department, international trading
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.
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.
Resource efficiency, sales growth, profit maximization.
B.
Customer satisfaction, marketing manager as chief executive, profit.
C.
Customer satisfaction, total company effort, profit.
D.
Customer satisfaction, total company effort, sales unit growth.
E.
Customer satisfaction, resource efficiency, sales unit maximization.
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.
Management by objective
B.
Strategic (management) planning
C.
Marketing upfront planning
D.
Inventory planning
E.
Marketing programming
Question #14
A marketing strategy specifies:
A.
A marketing mix
B.
A target market and a related marketing mix
C.
The resources needed to implement a marketing quant.
D.
A target market
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 requirements
B.
Target market
C.
Marketing mix
D.
Channel of distribution
E.
4Ps
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
focuses on fairly homogeneous market segments
B.
is limited to small market segments
C.
assumes that all customers are basically the same
D.
ignores markets that are large and spread out
Question #17
The "four Ps" of a marketing mix are:
A.
Product, Price, Promotion, and Profit
B.
Potential customers, Product, Price, and Personal Selling
C.
Promotion, Production, Price, People
D.
Product, Place, Promotion, and Price
E.
Production, Personnel, Price, and Physical Distribution
Question #18
Which of the following is NOT considered a product?
A.
Tax advice from a financial consultant
B.
A chair
C.
A haircut
D.
A computer
E.
All of these are considered products
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.
Place
B.
Promotion
C.
Personnel
D.
Product
E.
Price
Question #20
"Promotion" includes:
A.
Advertising
B.
Sales Promotion
C.
All of these may be included in Promotion
D.
Publicity
E.
Personal selling
Question #21
Advertising is:
A.
All of these are included in Advertising
B.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
C.
The main form of publicity
D.
Direct communication between sellers and potential customers.
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.
Sales Promotion
C.
Distribution
D.
Publicity
E.
Product development
Question #23
A "Marketing Plan" is:
A.
Similar to a marketing sales promotion
B.
A plan focused on the necessary operational decisions
C.
A target market and a generic marketing mix
D.
A marketing strategy - plus the time-related details for carrying it out
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.
Focuses on what a firm plans to do to "Satisfy Wishes of a Target" customer.
D.
Helps defend against potential competitors by developing a set of competitive "Safeguards, weapons, offensives, and tactics."
E.
Seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips."
Question #25
When Colgate (personal care products company) encourages its current customers to brush their teeth more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing?
A.
Product development
B.
Diversification
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.
Company environment
C.
Technological environment
D.
Cultural and social environment
E.
Legal environment
Question #27
A mission statement has the following purposes except:
A.
To communicate the firm's basic reason for being.
B.
To help firms decide what opportunities to avoid.
C.
To provide detailed goals and plans.
D.
To help firms decide what opportunities to pursue.
E.
To keep managers working towards a common purpose.
Question #28
Overall, company objectives should:
A.
Be specific
B.
Focus on returning some profit to the business.
C.
Be realistic and achievable.
D.
All of these are correct.
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.
Company objectives, marketing objectives, promotion objectives, sales promotion objectives.
B.
Marketing objectives, promotion objectives,sales promotion objectives, company objectives.
C.
Marketing objectives, company objectives, promotion objectives, sales promotion 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.
Competitor analysis plan
B.
Resource combination
C.
Sustainable competitive advantage
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.
Competition-free environments are rare.
C.
A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage.
D.
In a competitor analysis, the firm's first step should be to identify all potential competitors.
E.
Marketing managers should choose strategies that avoid head-on competition
Question #32
The Sherman Act sought to:
A.
Prevent monopolies or consperacies in restraint of trade.
B.
Eliminate price differences among different competing suppliers.
C.
Prevent fraud on the Internet.
D.
Restrict importing into the United States.
E.
Establish the Calif. State University Protection Agency.
Question #33
How is "Segmenting" different from "Combining"?
A.
A 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.
None of these are correct.
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.
Marketing mix
B.
Customer needs
C.
Product types
D.
Customer types
E.
Geographic area
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.
Cultural and social environment
B.
Technological environment
C.
Political and legal environment
D.
Economic environment
E.
Competitive environment
Question #36
Which of the following would help prevent marketing mistakes in evaluating international market opportunities?
A.
Use machine translators.
B.
Do not "think locally."
C.
Save money by cutting research into foreign markets.
D.
Assume that all cultures around the world are the same.
E.
Include local citizens in the evaluation process.
Question #37
The process of marketing strategy planning is about:
A.
Creating products that managers like.
B.
Narrowing down possible market opportunities to the most attractive ones.
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.
A tomato
B.
Champagne
C.
Long-stem roses
D.
A greeting card
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.
Qualifying market
D.
Generic 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.
"breaking apart" or disaggregatingg
B.
mechanical, nonjudgmental
C.
"clustering" or aggregating
D.
assorting
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.
Profit should be the balancing point - determining how unique a marketing mix the firm can offer to some target market.
D.
The threat of potential competitors suggests more aggregating.
Question #43
Which of the following is a BEHAVIORAL segmenting dimension?
A.
Income
B.
Region of the world or country
C.
Education
D.
Needs
Question #44
Which of the following is a consumer market demographic dimension?
A.
Age
B.
Sex
C.
Education
D.
All of these are examples of a consumer market demographic dimension
E.
Occupation
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.
AIC analysis
B.
Positioning
C.
None of these
D.
Random Clustering
E.
Dynamic behavioral segmentation.
Question #46
When a customer orders a book at Amazon.com, the online retailer recommends related books that have been purchased by other customers who bought that book. Amazon is using a(n):
A.
Aggregating approach
B.
CRM database
C.
Generic market
D.
Clustering approach
Question #47
Positioning Maps are based on:
A.
The potential places where a product may be sold and purchased.
B.
Customers' perceptions of products
C.
The opinions of the marketing managers.
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.
Logically compares choices to get the greatest satisfaction from spending time and money.
D.
Makes buying decisions based only on price.
Question #49
Discretionary income is defined as:
A.
Income available after taxes and necessities.
B.
Income available after taxes.
C.
Total market value of goods and services produced.
D.
Income available before taxes.
E.
Gross domestic product per capita.
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.
Attitudes
B.
Age
C.
Motivation
D.
Perception
E.
Learning
Question #52
Marci Bello is status-oriented. When she buys clothing she only considers items with well-known "labels" that her friends will notice. This behavior illustrates:
A.
Satisfying a need
B.
All of these are equally good answers
C.
Satisfying a want
D.
The "economic-buyer" model of buyer behavior
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 organization
B.
Selective calculation
C.
Selective exposure
D.
Reinforced cognition
Question #56
The order of the steps in the learning process is:
A.
reinforcement, drive, cue, response
B.
None of these alternatives is correct
C.
Cue, response, drive, reinforcement
D.
Drive, cue, response, reinforcement
Question #57
Attitudes are:
A.
All of these alternatives are correct.
B.
usually thought of as involving liking or disliking
C.
reasonably enduring points of view about something
D.
more action-oriented than beliefs
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.
Create new attitudes toward his or her brand.
B.
Change existing negative attitudes.
C.
Strengthen existing positive attitudes.
D.
Discover the attitudes of the firm's target market.
Question #59
Psychographics may also be called:
A.
Personality analytics
B.
Social group dynamics
C.
Opinion insight
D.
Lifestyle analysis
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.
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.
Culture
C.
Opinion set
D.
Motivation
E.
Learned set
Question #63
Which of the following statements accurately compares marketing to final consumers with marketing to organizational customers?
A.
Business-to-business marketing includes marketing to final consumers.
B.
Marketing to organizations is just like marketing to final consumers.
C.
Purchasing decisions by organizational buyers are usually more economic and less emotional as compared to consumers.
D.
Firms may choose to serve either organizational buyers or final consumers, but not both.
Question #64
After conducting a vendor analysis on potential suppliers, purchasing managers are likely to choose the vendor that:
A.
Enables the firm to operate more efficiently with the least risks.
B.
Offers AEG certification.
C.
Offers widest assortment
D.
Offers lowest price.
Question #65
Suppliers to businesses often:
A.
Serve as technical consultants to their customers.
B.
Provide 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.
each customer may need to be treated as a different segment.
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.
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.
Is the only person a business-to-business salesperson ever needs to see in order to make a sale to a buying organization.
D.
May specialize by product area if he/she works for a large 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.
Extensive problem-solving
C.
New-task
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.
Assured outsourcing
B.
Total quality shipping
C.
Effective gatekeeping
D.
Just-in-time delivery
Question #70
________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
A.
Marketing processing
B.
Marketing Research
C.
Marketing planning
D.
Marketing structure
Question #71
________________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
A.
Marketing processing dept.
B.
Marketing model
C.
Marketing information system
D.
Marketing status project
E.
Marketing logistics system
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.
Analyzing the situation, getting problem-specific data, interpreting the data, defining the problem, solving the problem.
B.
Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem.
C.
Analyzing the situation, defining the problem, getting problem-specific data, interpreting the data, solving the problem.
D.
Getting problem-specific data, interpreting the data, defining the problem, analyzing the situation.
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.
Intranet
B.
Experiment
C.
Hypothesis testing
D.
Situation analysis
E.
Data warehouse
Question #75
Data (Information) that has already been collected or published is:
A.
Recycle data
B.
Primary data
C.
Secondary data
D.
Eisner data
Question #76
Secondary data:
A.
Should be considered before primary data is collected.
B.
May not be specific enough to answer the question under consideration.
C.
Is often all that is needed to solve a problem.
D.
All of these alternatives are correct.
Question #77
Which of the following would be a source of Primary data?
A.
None of these is a good choice
B.
Historical company records on sales, costs, and advertising for the past ten years.
C.
A Google search
D.
U.S. Census Bureau reports
E.
Company implemented specific market research tests to gather new data.
Question #78
Qualitative research, compared to Quantitative research:
A.
Provides more representative samples of consumers
B.
Asks yes or no type questions
C.
Asks closed-ended questions
D.
Relies on open-ended questioning
Question #79
Marketing research which seeks structured responses that can be summarized is called:
A.
Situation analysis reserach
B.
Quantitative research
C.
Open-ended reserach
D.
Focus group research
Question #80
Information is obtained on a continuing basis from the same respondents using a:
A.
Consumer panel
B.
Responder group
C.
Statistical package
D.
Contributor group
E.
Consumer experiment
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