Question 1. Marketing:
a. should begin with the production process.
b. is defined as the advertising and selling process.
c. should anticipate potential customer needs or wants.
d. means selling whatever products are easy to produce.
Question 2. In advanced economies, marketing costs about 20 cents of each consumer dollar.
__True __ False
Question 3. A company focused on rushing a new product to market in order to take advantage of the company's exiting materials and capabilities is operating with a marketing orientation.
__True __ False
Question 4. The marketing concept means that an organization aims all its efforts at satisfying its customers?at a profit.
__ True __ False
Question 5. Put a "P" if it pertains to Production Orientation and "M" if it pertains to Marketing Orientation.
a. Customer needs determine company plans.
b. The company sells what it can make.
c. If we build a Web site, customers will flock to us.
d. Profit is a critical objective.
e. Eliminate costs that do not give value to customer.
Question 6. Retaining current customers is usually more costly than winning them away from competitors.
__True __ False
Question 7. A target market:
a. is a production oriented approach.
b. responds to a "one size fits all" marketing mix.
c. is a fairly homogeneous (similar) group of customers to whom a company wishes to appeal.
d. is limited to small market segments.
Question 8. Mass marketing strategy assumes that all customers are the same and the market is fragmented.
__True __ False
Question 9. The acronym SWOTT stands for:
a. Strategy, Work-in-progress, Opportunities, Technology, Trends
b. Strengths, Weaknesses, Opportunities, Trends, Threats
c. Strategy, Wealth, Organization, Technology, Training
d. Strengths, Weaknesses, Opportunities, Threats, Trends
e. Strategic Work Options To Target
Question 10. Target marketers believe that __ should be the focus of all business and marketing activity.
a. Products
b. Customers
c. Budgets
d. Distribution channels
e. Advertising mediums
Question 11. The marketing research process is a five-step application of the scientific method that includes:
a. Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, and solving the problem
b. Defining the target market, analyzing the customers, getting survey feedback,interpreting the data, and launching the marketing campaign
c. Defining the marketing campaign goals, analyzing the product features, analyzing the situation, getting budget approval, and launching the marketing campaign
d. Defining the problem, conducting surveys, analyzing survey feedback, interpreting the data, and changing product attributes
e. Defining company goals, analyzing customers, analyzing products, conducting interviews, and changing product attributes
Question 12: The difference between primary and secondary research is:
a. Primary research consists of one-on-one interviews while secondary research is done in a group setting
b. Primary research data sources come from observation and questioning while secondary research data sources come from both inside and outside of the company
c. Primary research data is qualitative while secondary research data is quantitative
d. Primary research is based on focus group interviews while secondary research is based on one-on-one interviews
e. Primary research is less expensive but more time consuming
Question 13. It is expected that by the next 25 years the population of U.S. seniors will:
a. more than double
b. be cut in half by the avian flu epidemic
c. will remain the same
e. will increase by about 10 percent.
Question 14. The buyer decision process consists of three stages: evaluation of alternatives, purchase decision, and postpurchase behavior.
__True __ False
Question 15. The following are all factors affecting a firm's decision to pursue market segmentation strategy except:
a. Similarity of customer needs, attitudes, and buying behavior
b. Firm's resources
c. Nature of competition
d. Homogeneous markets
e. Size of target markets
Question 16: The Internet has impacted marketing research in all of the following ways except:
a. It is easier and faster to locate secondary data
b. Research data found on the Internet is more reliable than other sourcesc. Primary research data can be obtained directly from some business processes
d. It is less costly to locate secondary data
e. In some cases it may be less costly to obtain primary data