Multiple choice questions:
Question 1
The difference between human needs and wants is that needs are not influenced by marketers.
Question 1 options:
a) True
b) False
Question 2
Nickson released a new range of watches that were titled after the famous mountaineer Adam Wills. These new watches were promoted through claims that the design is a favorite of Adam Wills who used a similar watch designed by Nickson for its high durability and quality on his expeditions. Such a measure to entice customers to buy one's products aims at creating ________.
a) customer equity
b) relationship marketing campaign
c) customer-perceived value
d) equitable relationship
e) societal marketing campaign
Question 3
Product, price, place, and promotion make up the elements of a firm's marketing mix.
Question 3 options:
a) True
b) False
Question 4
In the final step, the company reaps the rewards of its strong customer relationships by capturing value from customers.
Question 4 options:
a) True
b) False
Question 5
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ concept.
Question 5 options:
a) marketing
b) product
c) production
d) societal marketing
e) selling
Question 6
________ is the total combined customer lifetime values of all the company's current and potential customers.
a) Share of customer
b) Customer payoff
c) Customer equity
d) Customer cardinality
e) Customer perceived value
Question 7
Ryan attempts to deliver customer satisfaction every day in his installation business, Audio Expressions. The key to achieving this goal is to match the customer-perceived performance of his product with ________.
a) company projections
b) customer values
c) customer expectations
d) customer relationship levels
e) company expectations
Question 8
The societal marketing concept holds that ________.
Question 8 options:
a) consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort
b) a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests
c) the society will favor products that are available and highly affordable
d) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do
e) consumers will favor products that offer the most in quality, performance, and innovative features
Question 9
The process of dividing the market into segments of customers is known as market penetration.
Question 9 options:
a) True
b) False
Question 10
Sally purchased the newly launched "Jolie" lotion. By attempting to find out if the lotion's perceived performance matches her expectations, Sally was measuring her level of customer ________.
a) perceived value
b) satisfaction
c) equity
d) engagement
e) lifetime value
Question 11
In the four Ps of the marketing mix, promotion refers solely to advertising.
Question 11 options:
a) True
b) False
Question 12
In a SWOT analysis, which of the following would be considered a strength for a company?
a) a favorable economic climate that encourages consumption
b) the exit of a competitor from the market
c) inflation, which leads to higher prices of the company's products
d) increasing consumer interest in its products
e) the company developing improved production technology
Question 13
Which of the following measures the profits generated by investments in marketing activities?
a) SWOT analysis
b) the BCG matrix
c) the growth/share matrix
d) marketing ROI
e) the product/market expansion grid
Question 14
________ involves looking at whether a company's basic strategies are well matched to its opportunities.
a) Operating control
b) Task control
c) Agency control
d) Strategic control
e) Clan control
Question 15
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.
a) market targeting
b) positioning
c) diversification
d) market segmentation
e) market penetration
Question 16
In the BCG matrix, ________ are low-share businesses and products in a market that is not expected to grow. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.
a) dogs
b) cash cows
c) black holes
d) stars
e) question marks
Question 17
Which of the following groups is included in both a company's value chain and its value delivery network?
a) customers
b) suppliers
c) employees
d) distributors
e) competitors
Question 18
Which of the following best describes the value chain of a company?
a) the collection of businesses and products that make up the company
b) the series of cash cows and stars in the company's product line-up
c) the touchpoints at which a company or brand interacts with consumers of the company's products
d) the series of departments that design, produce, market, deliver, and support a firm's products
e) the collection of all the products in a particular product line
Question 19
Which of the following products would CypressSound classify as a cash cow in on its BCG matrix?
a) Cyan, a cell phone that is specially designed for music lovers, has a very low market share, though the market is growing steadily.
b) The home entertainment system offered by CypressSound has a strong market share, and the market is likely to expand in the future.
c) Xpress, an MP3 player, has a high market share, but the market for MP3 players is not expected to grow significantly.
d) AutoPlay, the company's audio product for installation in cars, has a high market share, and the market for these systems has been growing constantly.
e) Unipress, a CD player, has a very low market share in a market that is shrinking rapidly.
Question 20
Which of the following is true of company mission statements?
a) Mission statements should be defined in terms of satisfying customer needs.
b) A firm's mission statement should be product-oriented, focusing on the products the company sells.
c) Mission statements should not be specific, as this reduces the company's potential for growth.
d) A company mission statement should be directed at the company's publics rather than at its employees.
e) Mission statements should focus both on the company's product as well as the technology used to produce it.
Question 21
Kelstone Developers is planning to build a new shopping mall which requires the partial taking of a nearby park. Walking Green, an environmental group, challenged the plan, citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promised to build a park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.
a) financial public
b) government public
c) citizen-action public
d) internal public
e) media public
Question 22
Which of the following factors would come under the demographic environment for marketers?
a) the company's competitors
b) the company's suppliers
c) the company's shareholders
d) the level of technological advancement in the company's production processes
e) the educational level of the company's customers
Question 23
A bank that helps a company finance transactions can be seen as both a financial intermediary and a financial public.
a) True
b) False
Question 24
Which of the following would be a component of a company's marketing microenvironment?
a) a just-in-time inventory system followed by the company when making purchase decisions
b) a set of laws that require the company to scale down its promotional phone calls to customers
c) a changing demographic picture that the firm has to constantly adapt its products to
d) a new technology that would ensure significant cost-cutting if implemented in the firm
e) a set of environmental sustainability laws that significantly impact the company's production processes
Question 25
The ________ empowers the FTC to establish limits on quantity discounts, forbid some brokerage allowances, and prohibit promotional allowances except when made available on proportionately equal terms.
a) Taft-Hartley Act
b) Robinson-Patman Act
c) Lanham Trademark Act
d) Wheeler-Lea Act
e) CAN-SPAM Act
Question 26
Dextora Technologies manufactures microprocessors and caters exclusively to companies that produce high-end computers. Which of the following types of markets does Dextora target in this scenario?
a) retail markets
b) government markets
c) consumer markets
d) business markets
e) reseller markets
Question 27
Large societal forces like demographic, economic, natural, technological, political, and cultural forces that affect the microenvironment are considered to be part of the ________ of an organization.
a) supplier chain
b) macroenvironment
c) marketing intermediaries
d) internal environment
e) distribution channels
Question 28
Generation X is the largest age demographic in the U.S.
a) True
b) False
Question 29
The baby boomer generation has been the poorest generation in U.S. history
a) True
b) False
Question 30
The purchasing power of a population is categorized as being part of the technological environment of a company's macroenvironment.
a) True
b) False
Question 31
Which of the following has resulted from the increased educational levels of the U.S. population?
a) decreased dependency on technology
b) increased job growth for professional workers
c) rise in the number of manufacturing jobs
d) decreased mobility of the population within the U.S.
e) a decrease in the number of women workers
Question 32
Which of the following is true of the Telephone Consumer Protection Act?
a) It establishes the Consumer Product Safety Commission and authorizes it to set safety standards for telephones and related accessories.
b) It authorizes the FTC to determine rules and regulations for consumer warranties.
c) It authorizes the implementation of the National Do-Not-Call Registry.
d) It prohibits discrimination against hiring people with disabilities in the telecommunication business.
e) It limits marketers' use of automatic dialing systems and artificial or prerecorded voices.
Question 33
Which of the following is true of the Robinson-Patman Act?
a) It bans the sale of hazardous toys and articles.
b) It protects and regulates distinctive brand names and trademarks.
c) It establishes the Federal Trade Commission to monitor and remedy unfair trade methods.
d) It amends the Clayton Act to define price discrimination as unlawful.
e) It regulates the distribution and content of unsolicited commercial e-mail.
Question 34
Which of the following developments has resulted from a combination of changes in technological shifts and the geographical shifts of the U.S. population?
a) a decrease in ethnic diversity and culture
b) a decrease in manufacturing jobs and workers
c) an increase in the conservative consumption patterns
d) an increase in the number of marriages with no intent to bear children
e) an increase in the small office/home office markets
Question 35
The U.S. population is considered to be a homogeneous population where different ethnic groups have assimilated and lost their diversities.
a) True
b) False
Question 36
Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.
a) True
b) False
Question 37
Data age quickly, so keeping the database current requires dedicated resources.
a) True
b) False
Question 38
Which of the following statements is true with regard to the status of international research?
a) It is on the decrease due to high costs.
b) The costs are significantly higher than the benefits.
c) There is an abundance of qualified research personnel.
d) Despite the costs of international research, the costs of not doing it are higher.
e) There is no dearth of primary data in international marketing research.
Question 39
________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
a) Test marketing
b) Marketing research
c) Commercialization
d) Integrated marketing
e) Exclusive distribution
Question 40
In a simple random sample, ________.
a) the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group
b) the researcher selects the easiest population members from which to obtain information
c) the researcher finds and interviews a prescribed number of people in each of several categories
d) every member of the population has a known and equal chance of selection
e) the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview
Question 41
What is a major drawback of probability sampling?
a) It can be time consuming.
b) Sampling error cannot be measured.
c) The sample size chosen is often too large for valid generalizations to be made.
d) Everyone has an equal chance of selection.
e) Marketers must rely on the judgment of the researcher in respondent selection.
Question 42
Which of the following demonstrates the real value of a company's marketing research and information system?
a) the amount of data it generates
b) the variety of contact methods it uses
c) the efficiency with which it implements the research plans
d) the quality of customer insights it provides
e) the sampling plan it follows
Question 43
Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?
a) LexisNexis
b) Hoover's
c) Dialog
d) U.S. Security and Exchange Commission's database
e) ProQuest
Question 44
As a marketing researcher for SoundSense, Nancy Bales has been asked to gather preliminary information that will help create a research hypothesis about EasyPlay, the new music player by SoundSense. Nancy has the task of conducting first-hand research about the characteristics of the target group that would buy EasyPlay, which the company believes to be superior to i-Pods and cell phones in terms of audio quality. Nancy Bales should conduct ________ research at this stage.
a) causal
b) experimental
c) secondary
d) internal
e) exploratory
Question 45
Vernon Producers are running a series of marketing exercises to price their new range of goods suitably. With this purpose in mind, they have sold one of their key new products at two different prices in two different locations, holding all other factors like quality, promotion, customer service, and so on constant. This is an example of ________ research.
a) exploratory
b) descriptive
c) causal
d) focus group
e) ethnographic
Question 46
In a ________, the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview.
a) stratified random sample
b) cluster sample
c) simple random sample
d) quota sample
e) convenience sample
Question 47
Which of the following methods could a marketing researcher use to obtain information that people are unwilling or unable to provide?
a) observational research
b) focus groups
c) personal interviews
d) Internet surveys
e) questionnaires
Question 48
A researcher is conducting a study on a new type of insurance that has been released for professionals in jobs that pose a high risk to their life. The researcher, who has substantial experience in this field, has decided to select people who serve as fire fighters and fighter pilots following his own assessment of the people who would serve as good prospects for this insurance. The researcher has used ________ sampling here.
a) stratified random
b) cluster
c) simple random
d) judgment
e) probability
Question 49
Which of the following is true about customer relationship management (CRM)?
a) It eliminates the need to depend on information produced through primary research.
b) Its aim is to directly maximize profit margins.
c) Its aim is to establish cause-effect relationships between marketing strategies and consumption trends.
d) Its aim is to maximize customer loyalty.
e) It eliminates the need to use data mining techniques in marketing research studies.
Question 50
Typically, customer information is buried deep in separate databases, plans, and records of many different company functions and departments. To overcome such problems, which of the following should you use?
a) online market research tools
b) integrated marketing system
c) customer relationship management
d) internal company databases
e) mass marketing approach