MKT Exam 1 practice questions

Marketing is the process of

A) promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders
B) creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment
C) delivering a standard of living to a society
D) creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm’s objectives
E) focusing on customers needs

B
Distributions, price, promotion, and product are all elements of
A) marketing strategy
B) the marketing mix
C) a target mix
D) a consumer good
E) a business strategy
B
______ are the focal point of all marketing activities
A) products
B) advertisements
C) customers
D) brands
E) retailers
C
In which of the following situations is the marketer selling an idea, rather than a service or a good?
A) the green party holds a press conference to let the public know its views on capital pnishment
B) charity organization friends of families publicizes its charitable activities in African countries to collect funds
C) Skin-So-Soft salons offer consultations to help customers determine their skin type and the products best suited for their skin
D) Green Lawns is a private school that focuses on arts and the humanities in addition to traditional subjects
E) bluegray jeans markets its jeans using a famous actor in its advertisements to convey an impression of ruggedness and durability
A
The ____ variable of the marketing mix relates to activities used to inform individuals or groups about the organization and its products
A) product
B) distribution
C) customer
D) Pricing
E) promotion
E
The marketing plan is
A) a plan of all aspects of an organizations business strategy
B) a written document for each SBU
C)a written document detailing activities to be performed to implement and control marketing actions
D) designed to specify not only marketing but all other functional areas of business activities as well
E) updated only periodically
C
The process of putting marketing strategies into action is called
A) marketing implementation
B) marketing control
C) marketing action
D)marketing auditing
E) the marketing action plan
A
An organizations goals should be based on its _____, which is a long term view or vision of what the organization wants to become
C
Groups of individuals and/or organizations that need products in a products class and have the ability, willingness, and authority to purchase those products are called ____
A) markets
B) suppliers
C)shareholders
D)investors
E) competitors
A
Procter and Gambles superb marketing distribution skills and R&D capabilities in five core technologies (fats, oils,skin chemistry, surfactants, and emulsifiers) have enabled it to build a strong reputation in the market place and drive down competition. It can be said that these skills and capabilities are examples of Procter and Gambles
A) market opportunities
B) marketing plan
C) core competencies
D) strategic windows
E) marketing objectives
C
To monitor changes in the marketing environment effectively, marketers must engage in
A) environmental scanning and analysis
B) economic scanning
C) self-regulatory
D) marketing research analysis
E) information collecting
A
Most marketers operate in a competitive environment of either
A) oligopoly or monopoly
B) oligopoly or monopolisitic competition
C) oligopoly or pure competition
D) monopoly or pure competition
E) pure competition or monopolistic competition
B
Which of the following is a characteristic of pure competition?
A) large number of sellers
B)differentiation of products
C)large number of entry barriers
D) few competitors
E) no product substitutes
A
Which of the following is a characteristics of the prosperity stage of the business cycle?
A) there is high amount of unemployment
B) the buying power of consumers is low
C) total income is relatively high
D) customers are more price- and- value conscious
E) there is a decrease in consumer and business spending
C
The amount of money left after payment of taxes that is used by individuals for spending on purchase of basic necessities and savings is refereed to as
A)disposable income
B) wealth
C) discretionary income
D) income
E)Credit
A
Employees customers communities and investors are all considered ______ in relation to marketing
A) responsibilities
B) stakeholders
C)shareholders
D) constituents
E) owners
B
All companies have a responsibility to _____ so they can provide a return on investment to their owners and investors create jobs for the community and contribute goods and services to the economy
A) offer the lowest price
B) be profitable
C)obey their customers
D) provide the largest selection possible
E) pay employees more than minimum wage
B
The term refers to the principles and standards that define acceptable conduct in marketing as determined by various stakeholders
A) marketing ethics
B) relationship marketing
C) customer-centric marketing
D) green marketing
E) sustainable marketing
A
The practice of linking products to a particular social cause on an ongoing or short term basis is known as
A) target marketing
B) cause related marketing
C) relationship marketing
D) customer centric marketing
E) sustainable marketing
B
______ refers to the potential for the long term well being of the natural environment including all biological entities as well as the interaction among nature and individuals organizations and business strategies
A) consumerism
B) multicutural marketing
C) sustainability
D)real time marketing
E) strategic philanthropy
C
Marketing research is a process designed to gather information
A)exclusively about a companys customers
B) from the company’s database
C) not currently availiable to decision makers
D) about the needs and desires of employees
E) concerning the interpretation of the company’s sales goals
C
An overall plan for obtaining the information needed to address a research problem or issue is called the
A) research design
B) problem recognition
C) hypothesis
D) data collection method
E) sampling procedure
A
_____ is the systematic design, collection, interpretation, an reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities
A) marketing ethics
B) codes of conduct
C) marketing research
D) market planning
E) a SWOT analysis
C
The marketing research process begins with
A) the collection of data
B) the segmentation of data
C) designing the research project
D) benchmarking competitors
E) locating and defining the problem
E
For the purpose of marketing research, joe picked up the telephone directory and just selected a few numbers from it to form his sample. Joe is using ____ sampling to select the participants for his research
A) non- probability
B) random
C) stratified
D)quota
E) core
B
To find a target market, a firm can use the
A) total market strategy and the undifferentiated strategy
B) product differentiation strategy and they psychographic strategy
C) demographic strategy and the psychological strategy
D) socioeconomic strategy and the psychological strategy
E) undifferentiated strategy, the concentrated strategy, and the differentiated strategy
E
Age, rate of product use, location, and gender are all examples of common
A) demographic variables
B) geographic characterisitics
C) targeting strategies
D) psychographic variables
E) segmentation variables
E
A(n) ____ market consists of purchasers and household members who intend to use or benefit from the purchased products and do not buy products for the main purpose of making profit
A) business
B) industrial
C) institutional
D) reseller
E) consumer
E
_____ is the process of dividing a total market into groups of people with similar product needs in order to design a marketing mix that matches those needs
A) market testing
B) target marketing
C) market analysis
D) market segmentation
E)Positioning
D
Which of the following is a geographic variable for segmentation of a market?
A) family size
B) benefit expectations
C) city size
D) lifestyle
E) gender
C
An unplanned buying behavior resulting from a powerful urge to buy something immediately is called
A) impulse buying
B) habitual buying
C) compulsive response behavior
D) non-problem solving
E) cognitive dissonance
A
The five major stages of the consumer buying decision process, in order, are
A) information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation
B) problem recognition, information search, evaluation of alternatices, postpurchase evaluation and purchase
C) problem recognition, information search, evaluation of alternatives, postpurchase evaluation, and purchase
D) information search, evaluation of alternatives, purcahse, trial adoption period, and postpurchse evaluation
E) problem recognition, purchase, evaluation of alternatives, post purcahse evaluation, and rebuy
B
Emma looks at her watch and realizes that it has stopped. She knows that the watch is old and that she will have to buy a new one. Emma is in the ____ stage of the consumer buying decision process
A) information search
B) purchase
C) postpurchase evaluation
D) problem recognition
E
The group of brands that a buyer views as possible alternatives is known as the ___
A) evoked set
B) evaluative criteria
C) product family
D) inert set
E) marketing mix
A
______ describes the tendency of people to reject information that is inconsistent with their beliefs, even when presented with information to the contrary
A) selective distortion
B) selective retention
C) selective exposure
D) framing
E) closure
A