Multiple choice questions:
Question1
Which of the following elements of sociocultural environment can be associated with the growing demand for social surrogates like social networking sites, television, and so on?
• Views of others
• Views of ourselves
• Views of organizations
• Views of nature
Question 2
Which of the following is correct about marketing management?
• It focuses mostly on monitoring the profitability of a company's products and services.
• It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
• It is defined as the field that deals with planning and managing a business at the highest level of corporate organization.
• It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.
Question 3
In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because
• consumer borrowing increases during recession
• of steady supply of loanable funds in the economy during recession
• the consumers have a high debt-to-income ratio
• of stringent credit policies adopted by the Fed before the onset of recession
Question 4
A company's sales potential would be equal to market potential when which situations exists?
• The marketing expenditure of the company is reduced to zero.
• The market is nonexpandable.
• Industry marketing expenditures approach infinity for a given marketing environment.
• The company gets 100 percent share of the market.
Question 5
Which of the following industries is most likely to use database marketing?
• A physician's office
• A school system
• A local restaurant
• A supermarket chain
Question 6
The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n)
• event
• idea
• service
• place
Question 7
Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as
• integrative growth
• overall cost leadership
• market development
• differentiation
Question 8
Which market do customers who have purchased and are driving Audi automobiles represent?
• Available market
• Potential market
• Penetrated market
• Target market
Question 9
During the holidays, companies often provide gifts to customers. The more a client spends, the larger the gift, usually. To segment customers in this way, for what purpose is this data being mined?
• To decide which customers should receive a new sales offer
• To avoid serious customer mistakes
• To deepen customer loyalty
• To beat the competition to a sale
Question 10
Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science?
• Marketing is about advertising.
• Marketing balances the need for data with that of creativity.
• Marketing is involved with price as the major factor.
• Marketing focuses on sales as the primary goal.
Question 11
How does the market demand curve change (as a function of marketing expenditure) during recession?
• Becomes vertical
• Shifts upward
• Shifts downward
• Remains unaffected
Question 12
Wabash Bank would like to understand if there is a relationship between the advertising or promotion it does and the number of new customers the bank gets each quarter. What type of research is this an example of?
• Qualitative
• Secondary
• Exploratory
• Causal
Question 13
Which of the following statements demonstrates behavioral loyalty towards a brand?
• Myfavorite Laundry detergent smells good.
• My friends agree Myfavorite Laundry detergent is the best.
• Myfavorite Laundry detergent is so easy to use.
• I always buy Myfavorite Laundry detergent when purchasing laundry detergent.
Question 14
Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings.
• Differentiation
• Promotional
• Diversification
• Focus
Question 15
By 2015, projections indicate that the largest category of households will be composed of
• married couples with children
• singles living with nonrelatives
• childless married couples and empty nesters
• single-parent families
Question 16
What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and found articles about many of them in terms of their capabilities, strengths, and weaknesses.
• Licensed information
• Tertiary information
• Primary data
• Secondary data
Question 17
When Apple introduced iTunes, a new market was opened. Which of the following describes this type of innovation?
• Value capture
• Presence
• Operational excellence
• Value chain
Question 18
One of the most critical steps in the defining process of market research is
• analyzing the internal environment
• reading marketing research journals
• defining the problem, the decision alternatives, and research objectives
• developing a research plan