Questions:
Question 1
Which of the following is most essential to any definition of marketing?
demand management
the production concept
customer relationships
making a profit
Question 2
When backed by buying power, wants become:
social needs
demands
physical needs
exchanges
Question 3
The art and science of choosing target markets and building profitable relationships with them is called:
selling
segmentation
positioning
marketing management
Question 4
Which of the following best explains why consumers have greater power and control in today's marketplace?
The production concept and competition have lowered prices.
Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.
Implementation of the product concept has resulted in continually improving products.
Customer-driven marketing creates goods and services that meet customers' future needs.
Question 5
The act of obtaining a desired object from someone by offering something in return speaks most closely to:
needs, wants and demands
market offerings
value and satisfaction
exchange relationships
Question 6
The set of benefits a company promises to deliver to its consumers to satisfy their needs is called:
a money-back guarantee
low pricing
a value proposition
good customer service
Question 7
Each department in a company that carries out value-creating activities can be thought of as a link in the company's:
market development
product development
business portfolio
value chain
Question 8
The place a product occupies in the consumer's mind relative to competitors' products is termed:
product placement
product position
market segmentation
market targeting
Question 9
In the four P's of the marketing mix, design, packaging, services, and variety all fall under the category of:
product
price
promotion
place
Question 10
Instead of thinking of selling products, marketers would be wise to take the customer's view and think of:
providing convenience
initiating two-way communication
offering discounts
offering solutions to problems
Question 11
Regarding customer relationship groups, a long-term customer who has a very low contribution to overall profits is called a:
butterfly
true friend
barnacle
stranger
Question 12
A product with a low market growth rate and relatively high market share is known in the Growth-Share Matrix as a:
dog
cash cow
star
question mark
Question 13
If you want to sell new products to new markets, you are using a strategy called:
market penetration
product development
market initiation
diversification
Question 14
Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched?
psychographic
economic
demographic
geographic
cultural and social
Question 15
Which of the following descriptions most accurately characterizes the baby boomers?
They are aging and slowing down.
They are a shrinking market for new housing and home remodeling.
They are past their peak earning and spending years.
They hold 70% of the country's financial assets.
They were largely unaffected by the recent recession.
Question 16
What is the first step in the marketing research process?
developing a marketing information system
defining the problem and research objectives
developing the research plan for collecting information
implementing the research plan
interpreting data and deciding on type of research
Question 17
Secondary data consists of information:
that already exists somewhere but is outdated
that does not currently exist in an organized form
that is used by competitors
that the researcher can only obtain through surveys and observation
that already exists but was collected for a different purpose
Question 18
Companies who use brand ambassadors are using a specific technique called:
opinion leading
buzz marketing
direct marketing
values marketing
Question 19
Researchers found that a number of well-known brands tended to be strongly associated with one particular trait, such as JetBlue with "being human". Which of the following terms would a marketer use to describe a specific mix of traits that may be attributed to a particular brand?
brand personality
product image
product perception
brand equity
Question 20
You are bringing out a new product and want to be sure to reach those customers who will influence the choices of others. Which group will you target to carry your message?
early adopters and innovators
laggards and late mainstream customers
early mainstream and early adopters
innovators and early mainstream