MKT 421 multiple choice question use it as a guide only5
MKT 421 multiple choice question use it as a guide only5
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Date Created: 11/12/15
Your passing grade is dependent upon you taking the exam yourself, checking your answers against these, and determining any discrepancies before submitting the exam. It would be appreciated if you would let me know of any differences you might find. I hope you have found this answer helpful. Your positive feedback will also be greatly appreciated. If you need additional information or further assistance, please message me. Thanks for the opportunity to be of help. Best wishes, SPQR 1) According to the text, marketing means: A. Much more than selling and advertising. B. Selling. C. Producing and selling. D. Advertising. 2) Which of the following statements best describes the modern view of marketing? A. The job of marketing is to get rid of whatever the company is producing. B. Marketing is concerned with generating a single exchange between a firm and a customer. C. Marketing begins with anticipating potential customer needs. D. Marketing should take over production, accounting, and financial services within a firm. 3) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of A. Production. B. Marketing. C. Making goods or performing services. D. A command economy. 4) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at: A. Combination. B. Market development. C. Product development. D. Market penetration. 5) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at A. Market penetration. B. Market development. C. Product development. D. Diversification. 6) Which of the following statements regarding marketing strategies is FALSE? A. It is useful to think of the marketing strategy planning process as a narrowingdown process. B. Developing successful marketing strategies does not need to be a hitormiss proposition. C. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market. D. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm. 7) The four Ps of a marketing mix are: A. Production, Personnel, Price, and Physical Distribution B. Product, Price, Promotion, and Profit C. Product, Place, Promotion, and Price D. Promotion, Production, Price, and People 8) Which of the following is true? A. The product P in the marketing mix stands for only physical goods. B. The product P in the marketing mix stands for only tangible merchandise. C. The product P in the marketing mix stands for both physical goods and tangible D. The product P in the marketing mix stands for both physical goods and services. 9) Product is NOT concerned with: A. Quality level. B. Wholesale price. C. Packaging. D. Branding. 10) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as: A. Branding is to pricing. B. Personal selling is to mass selling. C. Store location is to sales force selection. D. Production is to marketing. 11) Big Fizz Co., a manufacturer of colaflavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix? A. Product B. Price C. Promotion D. Place 12) The ______ area of the marketing mix is concerned with decisions about getting the right product to the target market when and where it is wanted. A. Product B. Place C. Promotion D. People 13) The main difference between a marketing strategy and a marketing plan is that: A. Timerelated details are included in a marketing plan. B. A marketing strategy omits pricing plans. C. A marketing strategy provides more detail. D. A marketing plan includes several marketing strategies. 14) A marketing plan is: A. A marketing program. B. A target market and a related marketing mix. C. A marketing strategy—plus the timerelated details for carrying it out. D. A marketing strategy. 15) Which of the following is part of a complete marketing plan? A. Competitors' marketing strategies. B. What company resources (costs) are required and at what rate. C. How different marketing mixes (for different target markets) relate to each other. D. All of these. 16) Target marketing, in contrast to mass marketing, A. Is limited to small market segments. B. Focuses on fairly homogeneous market segments. C. Ignores markets that are large and spread out. D. Assumes that all customers are basically the same. 17) Marketing strategy planners should recognize that: A. Target markets should not be large and spread out. B. Target marketing is not limited to small market segments. C. Large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets. D. Mass marketing is often very effective and desirable. 18) Good marketing strategy planners know that: A. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets. B. The terms mass marketing and mass marketer mean basically the same thing. C. Mass marketing is often very desirable and effective. D. Target marketing does not limit one to small market segments. 19) The process of naming broad productmarkets and then segmenting them in order to select target markets and develop suitable marketing mixes is called: A. Market penetration. B. Market research. C. Market development. D. Market segmentation. 20) ______________ is the process of naming broad productmarkets and then segmenting these broad productmarkets in order to select target markets and develop suitable marketing mixes. A. Market positioning B. Market segmentation C. Mass marketing D. Diversification 21) Clustering techniques applied to segmenting markets A. Usually require computers to group people based on data from market research. B. Remove the need for managerial judgment. C. Eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers. D. All of the above are true. 22) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions. A. Marketing planning. B. Marketing processing. C. Marketing structure. D. Marketing research. 23) Procedures that develop and analyze new information to help marketing managers make decisions are called: A. Strategy planning. B. Operational planning. C. Analytical research. D. Marketing research. 24) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions. A. Marketing information system B. Marketing model C. Marketing research project D. Marketing research department 25) One of the major disadvantages of the focus group interview approach is that A. Ideas generated by the group cannot be tested later with other research. B. It is difficult to measure the results objectively. C. It is difficult to get indepth information about the research topic. D. There is no interviewer, so the research questions may not be answered. 26) The part of the relevant population that is surveyed by a researcher is called the: A. Representative group. B. Focal group. C. Target population. D. Sample. 27) Marketing research which seeks structured responses that can be summarized is called: A. Focus group research. B. Quantitative research. C. Qualitative research. D. Situation analysis research. 28) Which of the following statements about consumer products is true? A. Convenience products are those that customers want to buy at the lowest possible price. B. Shopping products are those products for which customers usually want to use routinized buying behavior. C. Specialty products are those that customers usually are least willing to search for. D. Unsought products are not shopped for at all. 29) The observing method in marketing research: A. Uses personal interviews. B. May require customers to change their normal shopping behavior. C. Is used to gather data without consumers being influenced by the process. D. Is not suitable for obtaining primary data. 30) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem is and has been carefully analyzing secondary data to check his thinking. His next step should be to: A. Conduct an experiment. B. Develop a formal research project to gather primary data. C. Conduct informal discussion with outsiders, including intermediaries, to see if he has correctly defined the problem. D. Develop a hypothesis and predict the future behavior of sales. 31) Which is the first step in market segmentation? A. Finding one or two demographic characteristics to divide up the whole mass market. B. Clustering people with similar needs into a market segment. C. Naming a broad productmarket of interest to the firm. D. Evaluating market segments to determine if they are large enough. 32) ______________ is the process of naming broad productmarkets and then segmenting these broad productmarkets in order to select target markets and develop suitable marketing mixes. A. Market segmentation B. Strategic planning C. Mass marketing D. Market positioning 33) The first step in market segmentation should be: A. Deciding what new product you could develop. B. Evaluating what segment(s) you currently serve. C. Finding a demographic group likely to use your products. D. Defining some broad productmarkets where you may be able to operate profitably. 34) Which of the following is a DEMOGRAPHIC segmenting dimension? A. Rate of use. B. Brand familiarity. C. Type of problem solving. D. Family life cycle. 35) The product life cycle has four stages. Which of the following is NOT one of these? A. Market introduction B. Market growth C. Market maturity D. Economic competition 36) The product life cycle: A. Describes the stages a new product idea goes through from beginning to end. B. Has five major stages. C. Applies more to individual brands than to categories or types of products. D. Shows that sales and profits tend to move together over time. 37) An industry's sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid pricecutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle? A. Market growth B. Market development C. Market introduction D. Market maturity 38) During the market introduction stage of the product life cycle: A. Considerable money is spent on promotion while place development is left until later stages. B. Most potential customers are quite anxious to try out the newproduct concept. C. Funds are being invested in marketing with the expectation of future profits. D. Products usually show large profits if marketers have successfully carved out new markets. 39) Cargill, Inc. is finally earning a profit on the unique product it introduced 6 months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on Place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating? A. Market growth B. Sales decline C. Market maturity D. Market introduction 40) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are: A. Quantity discounts. B. Push money allowances. C. Advertising allowances. D. Brokerage allowances. 41) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is A. Probably illegal because it might encourage price competition among retailers. B. The type of promotion that continues to impact sales even after the promotion is over. C. An example of a producer using sales promotion in the channel. D. An example of cooperative advertising. 42) While watching a television program, Liza gets a phone call just as a commercial is starting. She presses the mute button on the television's remote control and takes the call, so she pays no attention to the commercial. In terms of the communication process, the telephone call is an example of: A. Encoding. B. Decoding. C. Feedback. D. Noise. 43) Integrated directresponse promotion: A. Is not necessary or useful when the channel of distribution involves intermediaries. B. Is usually part of a pushing effort rather than part of a pulling approach. C. Focuses on achieving a measurable, direct response from specific target customers. D. None of these are true. 44) American Tourister, Inc.—a producer of luggage—is planning to introduce a new product line. The marketing manager is having her sales force call on retailers to explain American Tourister's consumer advertising plans, the unique features of the new luggage, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. This is an example of: A. A pulling policy. B. Selective distribution. C. A pushing policy. D. Intensive distribution. 45) The Canyonlands Corporation is introducing a new product next month. To prepare for the introduction, the marketing manager is having his sales force call on distributors to explain the unique features of the new product, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. In addition, Canyonlands is budgeting 2% of its estimated sales for magazine advertising. This is an example of: A. Selective distribution. B. Exclusive distribution. C. A pushing policy. D. A pulling policy. 46) Positioning analysis A. Helps managers understand the actual characteristics of their products. B. Shows that managers and customers usually view present brands similarly. C. Is a visual aid to understanding a productmarket. D. Is not a productoriented approach. 47) Which of the following statements about positioning is NOT TRUE? A. It often makes use of techniques such as perceptual mapping. B. It helps marketing managers know how customers view the firm's offering. C. Positioning issues are especially important when competitors in a market are very dissimilar. D. It refers to how customers think about proposed or present brands in a market. 48) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the A. Combined target market approach. B. Mass marketing approach. C. Multiple target market approach. D. Single target market approach 49) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing? A. Tensions between have and havenot cultures. B. Decreasing role of airfreight. C. Global communication over the Internet. D. More attention to exporting by small companies. 50) When a company grows globally, this is an example of: A. Market development B. Market penetration. C. Diversification. D. Product development. 51) A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs. A. Generic market B. Productmarket C. Target market D. Standard market 52) Identify the incorrect statement about sales promotions. A. Sales promotions have increased because of competition in emerging markets. B. The availability of more ad agencies and specialists has spurred growth in sales promotions. C. Changes in technology have made sales promotions more efficient. D. Sales promotions can be used as tools to overcome consumer price resistance. 53) Which of the following is a key trend affecting marketing strategy planning? A. Senior and ethnic submarkets are getting smaller. B. Growth of marketing information systems. C. Less use of technology in personal selling. D. Slower newproduct development. 54) Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake? A. "When it comes to my marketing strategy, if it ain't broke, don't fix it." B. "I try to place myself in the position of the consumer and do unto others as I would have them do unto me." C. "I leave marketing applications of technology to the information technology staff. There's no need for me to learn about them." D. "International competition is just a fad. We can ignore it." 55) Which of the following statements about ethical behavior in business is true? A. The legal environment sets the highest standards of ethical behavior. B. The legal environment sets the maximum standards of ethical behavior. C. The legal environment sets the minimum standards of ethical behavior D. The legal environment sets the normative standards of ethical behavior. 56) The future poses many challenges for marketing managers because: A. New technologies are making it easier to abuse consumers' rights to privacy. B. The marketing concept has become obsolete. C. It is marketing managers who have full responsibility to preserve our macro marketing system. D. Social responsibility applies only to firms—not to consumers. 57) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information about the prices of new and used vehicles that anyone can use for free. In light of the availability of this information, what is the responsibility of consumers to use it? A. Consumers should not use it because it gives them an unfair advantage over car dealers. B. Consumers have a responsibility to use the information and be smarter customers. C. Consumers can use it, but should not feel a responsibility to do so. D. Consumers should not trust any information they receive from any source except the government.