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 should take over production, accounting, and financial services within a firm.
B.
Marketing is concerned with generating a single exchange between a firm and a customer.
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 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.
Macro-Marketing
B.
Micro-Marketing
C.
The transporting function
D.
Social quant. analysis
E.
Standardization and grading
Question #3
American supermarket chain, FoodMart, purchases cheese from five different manufacturers from around the world to assure its customers can choose among different types of cheeses at different prices. FoodMart facilitates the macro-marketing system by helping to address:
A.
Discrepancies of assortment
B.
Separation of values
C.
Spatial separation
D.
All of these are correct.
Question #4
Since individual firms cannot perform all Marketing functions, _____________ often play a role in the exchange process.
A.
Consumer action groups
B.
Marketing managers
C.
Intermediaries
D.
Government analysts
Question #5
Which of the following types of firms are collaborators?
A.
Overnight delivery firms
B.
All of these are collaborators
C.
Marketing research firms
D.
Product-testing labs
E.
Advertising agencies
Question #6
In a command economy:
A.
Producers have a lot of choice about what and how much to produce.
B.
Economies have little variety, so consumers have few choices.
C.
Prices usually fluctuate according to supply and demand.
D.
Marketing activities such as advertising, branding, and market research are encouraged.
Question #7
__________ in the marketplace are a rough measure of how society values particular goods and services.
A.
Inventories
B.
Discrepancies of quantity
C.
Cost of labor and materials
D.
Prices
E.
The number of producers
Question #8
From the Industrial Revolution until the 1920s, most companies were in the ________________ era.
A.
Marketing Company
B.
Simple Trade
C.
Production
D.
Marketing Department
Question #9
The textbook considers five "eras" of Marketing evolution. These five eras in their logical order are:
A.
Subsistence, production, sales, entrepreneurial, marketing company
B.
Simple trade, production, sales, marketing department, marketing company
C.
Simple trade, production, sales, marketing department, international trading
D.
Simple trade, production, sales, marketing company, marketing department
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.
More emphasis on short-run planning in the marketing company era.
B.
More emphasis on selling and advertising in the marketing department era.
C.
Whether the president of the firm has a background in marketing.
D.
There is no difference.
E.
Whether the whole company is customer-oriented.
Question #11
The three basic ideas in the "Marketing Concept" are:
A.
Customer satisfaction, resource efficiency, sales unit maximization.
B.
Resource efficiency, sales growth, profit maximization.
C.
Customer satisfaction, total company effort, sales unit growth.
D.
Customer satisfaction, total company effort, profit.
E.
Customer satisfaction, marketing manager as chief executive, profit.
Question #12
The marketing management process is the process of:
A.
All of these.
B.
Implementing marketing plans.
C.
Controlling marketing plans.
D.
Planning marketing activities.
Question #13
The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
A.
Inventory planning
B.
Marketing upfront planning
C.
Marketing programming
D.
Strategic (management) planning
E.
Management by objective
Question #14
A marketing strategy specifies:
A.
A target market and a related marketing mix
B.
A marketing mix
C.
A target market
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.
Marketing requirements
B.
Target market
C.
Channel of distribution
D.
Marketing mix
E.
4Ps
Question #16
"Target marketing," in contrast to "mass marketing," …
A.
ignores markets that are large and spread out
B.
focuses on fairly homogeneous market segments
C.
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.
Product, Place, Promotion, and Price
B.
Production, Personnel, Price, and Physical Distribution
C.
Potential customers, Product, Price, and Personal Selling
D.
Product, Price, Promotion, and Profit
E.
Promotion, Production, Price, People
Question #18
Which of the following is NOT considered a product?
A.
A computer
B.
A haircut
C.
All of these are considered products
D.
A chair
E.
Tax advice from a financial consultant
Question #19
Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix variable that is being considered here is:
A.
Place
B.
Personnel
C.
Price
D.
Product
E.
Promotion
Question #20
"Promotion" includes:
A.
All of these may be included in Promotion
B.
Publicity
C.
Advertising
D.
Sales Promotion
E.
Personal selling
Question #21
Advertising is:
A.
Direct communication between sellers and potential customers.
B.
All of these are included in Advertising
C.
The designing and distribution of novelties, point-of-purchase materials, store signs, contests, catalogs and circulars.
D.
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
E.
The main form of publicity
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.
Product development
B.
Market penetration
C.
Distribution
D.
Publicity
E.
Sales Promotion
Question #23
A "Marketing Plan" is:
A.
A plan focused on the necessary operational decisions
B.
Similar to a public relations strategy
C.
A target market and a generic marketing mix
D.
Similar to a marketing sales promotion
E.
A marketing strategy - plus the time-related details for carrying it out
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.
Identifies a firm's "strengths, weaknesses, opportunities, and threats."
D.
Summarizes a firm's "strategy, wishes (of its customers), outlook and tactics."
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.
Diversification
B.
Market development
C.
Market penetration
D.
Product development
Question #26
Which of the following is not an element of the external market environment?
A.
Economic environment
B.
Company environment
C.
Legal environment
D.
Technological 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 help firms decide what opportunities to avoid.
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.
All of these are correct.
B.
Be specific
C.
Be compatible with one another.
D.
Be realistic and achievable.
E.
Focus on returning some profit to the business.
Question #29
Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?
A.
Marketing objectives, company objectives, promotion objectives, sales promotion objectives.
B.
Company objectives, sales promotion objectives, marketing objectives, promotion objectives.
C.
Marketing objectives, promotion objectives,sales promotion objectives, company objectives.
D.
Company objectives, marketing 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 matrix
C.
Resource combination
D.
Sustainable competitive advantage
E.
Competitor analysis plan
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.
Eliminate price differences among different competing suppliers.
B.
Prevent monopolies or consperacies in restraint of trade.
C.
Prevent fraud on the Internet.
D.
Establish the Calif. State University Protection Agency.
E.
Restrict importing into the United States.
Question #33
How is "Segmenting" different from "Combining"?
A.
Combiners usually have more sales potential than segmenters.
B.
A segmenter assumes that a broad product market consists of a homogeneous group of customers.
C.
None of these are correct.
D.
A combiner tries to meet the demand in several segments.
Question #34
A complete product-market definition includes a four-part description comprising all of the following except:
A.
Customer needs
B.
Geographic area
C.
Customer types
D.
Marketing mix
E.
Product types
Question #35
A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the:
A.
Political and legal environment
B.
Competitive environment
C.
Cultural and social environment
D.
Technological 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.
Assume that all cultures around the world are the same.
C.
Do not "think locally."
D.
Use machine translators.
E.
Include local citizens in the evaluation process.
Question #37
A.
Identifying as many market opportunities as can be imagined.
B.
Narrowing down possible market opportunities to the most attractive ones.
C.
Creating products that managers like.
D.
Figuring out how to offer products at the lowest possible price.
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 tomato
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.
Qualifying market
C.
Determining market
D.
Generic market
Question #40
The process of market segmentation is a two-step process that involves:
A.
Selecting a marketing mix to reach everyone and then going to lunch at Chipotle Mexican Grill.
B.
Identifying small target markets and expanding them into broad product markets.
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.
"clustering" or aggregating
C.
mechanical, nonjudgmental
D.
"breaking apart" or disaggregatingg
Question #42
When deciding how far to carry the segmentation process …
A.
Profit should be the balancing point - determining how unique a marketing mix the firm can offer to some target market.
B.
All of these alternatives are true.
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.
Region of the world or country
B.
Needs
C.
Education
D.
Income
Question #44
Which of the following is a consumer market demographic dimension?
A.
Sex
B.
Education
C.
Age
D.
Occupation
E.
All of these are examples of a consumer market demographic dimension
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.
Dynamic behavioral segmentation.
B.
None of these
C.
Random Clustering
D.
Positioning
E.
AIC analysis
Question #46
A.
Aggregating approach
B.
Clustering approach
C.
CRM database
D.
Generic market
Question #47
Positioning Maps are based on:
A.
The actual objective characteristics of products.
B.
The opinions of the marketing managers.
C.
Customers' perceptions of products
D.
The potential places where a product may be sold and purchased.
Question #48
An economic buyer is a person who:
A.
Will not pay extra for convenience.
B.
Makes buying decisions based only on price.
C.
Is averse to spending time and money.
D.
Logically compares choices to get the greatest satisfaction from spending time and money.
Question #49
Discretionary income is defined as:
A.
Income available after taxes and necessities.
B.
Income available before taxes.
C.
Income available after taxes.
D.
Total market value of goods and services produced.
E.
Gross domestic product per capita.
Question #50
The "economic-buyer" model:
A.
Suggests that men and women behave differently as buyers.
B.
None of these is true of the economic-buyer model.
C.
Assumes that buyers don't have enough information to make logical choices - and as a result buy products that are not a good value.
D.
Is seen as too simplistic by most marketing managers to explain consumer behavior..
Question #51
Which of the following is NOT a psychological variable?
A.
Attitudes
B.
Motivation
C.
Perception
D.
Learning
E.
Age
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.
All of these are equally good answers
B.
The "economic-buyer" model of buyer behavior
C.
Satisfying a need
D.
Satisfying a want
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.
Physiological, safety, social, and personal needs.
C.
safety, personal, social, and physiological needs.
D.
Personal, social, 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.
Focal socialization
B.
Selective exposure
C.
Selective learning
D.
Selective perception
Question #55
Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes aware of many TV ads for allergy products that she never noticed before. This illustrates:
A.
Selective exposure
B.
Selective calculation
C.
Reinforced cognition
D.
Selective organization
Question #56
The order of the steps in the learning process is:
A.
reinforcement, drive, cue, response
B.
None of these alternatives is correct
C.
Drive, cue, response, reinforcement
D.
Cue, response, drive, reinforcement
Question #57
Attitudes are:
A.
reasonably enduring points of view about something
B.
Things we believe strongly enough to be willing to take some action
C.
usually thought of as involving liking or disliking
D.
All of these alternatives are correct.
E.
more action-oriented than beliefs
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.
Discover the attitudes of the firm's target market.
C.
Strengthen existing positive attitudes.
D.
Change existing negative attitudes.
Question #59
Psychographics may also be called:
A.
Social group dynamics
B.
Personality analytics
C.
Lifestyle analysis
D.
Opinion insight
Question #60
Which of the following social influences will likely have the greatest impact on a teenager's purchase of a high-profile (visibility) item like a skateboard?
A.
Reference group
B.
Grandparents
C.
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 consumer advocate
B.
A source
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.
Opinion set
B.
Motivation
C.
Culture
D.
Personal environment
E.
Learned set
Question #63
Which of the following statements accurately compares marketing to final consumers with marketing to organizational customers?
A.
Firms may choose to serve either organizational buyers or final consumers, but not both.
B.
Purchasing decisions by organizational buyers are usually more economic and less emotional as compared to consumers.
C.
Business-to-business marketing includes marketing to final consumers.
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 lowest price.
B.
Offers widest assortment
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.
All of these answers are correct
D.
Provide J.I.T. delivery
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 only interested in finding the lowest possible price for a product.
B.
Is the only person a business-to-business salesperson ever needs to see in order to make a sale to a buying organization.
C.
May specialize by product area if he/she works for a large organization.
D.
Is basically a clerk who fills out paperwork to place orders.
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.
New-task
C.
Straight rebuy
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.
Assured outsourcing
C.
Total quality shipping
D.
Just-in-time delivery
Question #70
________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
A.
Marketing planning
B.
Marketing structure
C.
Marketing processing
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 status project
B.
Marketing processing dept.
C.
Marketing information system
D.
Marketing logistics system
E.
Marketing model
Question #72
________________ are educated guesses about the relationships between things or about what will happen in the future.
A.
Situation analyses
B.
Progressions
C.
Marketing Z modeling
D.
Hypotheses
E.
Data quants
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.
Situation analysis
B.
Hypothesis testing
C.
Experiment
D.
Data warehouse
E.
Intranet
Question #75
Data (Information) that has already been collected or published is:
A.
Primary data
B.
Recycle data
C.
Secondary data
D.
Eisner data
Question #76
Secondary data:
A.
May not be specific enough to answer the question under consideration.
B.
Should be considered before primary data is collected.
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.
A Google search
B.
Historical company records on sales, costs, and advertising for the past ten years.
C.
None of these is a good choice
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.
Asks closed-ended questions
B.
Relies on open-ended questioning
C.
Provides more representative samples of consumers
D.
Asks yes or no type questions
Question #79
Marketing research which seeks structured responses that can be summarized is called:
A.
Quantitative research
B.
Open-ended reserach
C.
Situation analysis reserach
D.
Focus group research
Question #80
Information is obtained on a continuing basis from the same respondents using a:
A.
Consumer experiment
B.
Statistical package
C.
Responder group
D.
Contributor group
E.
Consumer panel
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