Principles of Marketing 100 MCQs 1 answer below »

Principles of Marketing MCQs

1. All of the following are accurate descriptions of modern marketing EXCEPT which one?

2. Consumer research, product development, communication, distribution, pricing and service are all core __________ activities.

3. Which marketing orientation calls for aggressive promotional efforts and focuses on generating transactions to obtain profitable sales?

4. Which of the following reflects the marketing concept philosophy?

5. Building, keeping, and growing profitable relationships by delivering customer value and satisfaction is called ________.

6. You are an assistant marketing director for a firm in a market with manylow-margincustomers. What type of relationship would be most profitable for you to develop with these customers?

7. Which of the following is the total combined customer lifetime values of all a company's current and potential customers?

8. Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing their future funeral needs, and she must somehow first get their attention. Jolene's firm most likely practices the ________.

9. The Niketown running club that organizes twice weekly evening runs andfollow-upmeetings in the Nike Store is an example of which of the following?

10. A church targeting different demographic groups to increase attendance is an example of

11. Which of the following is NOT a step in the strategic planning process?

12. Which of the following can be a company division, a product line within a division, or sometimes a single product or brand?

13. Which of the following does NOT accurately reflect a problem with the BCG matrix approach?

14. In a basic SWOT analysis the "T" stands for ________.

15. Saturn is "a different kind of company, different kind of a car"; the Hummer is "like nothing else." Statements such as these reflect a firm's ________.

16. You are directed to study the demographic, economic, natural, technological, political, and cultural factors that are larger societal forces affecting your company. What are you studying?

17. A(n) ________ is defined as any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives

18. Which type of market buys goods and services for further processing or for use in the production process?

19. Of the following diversity segments in the American population, which is currently the largest?

20. Value marketing is the strategy of offering consumers ________.

21. Many firms today use RFID technology to ________.

22. A company or association's ________ is designed to help guide responses to complex social responsibility issues.

23. Watching the cultural trends of how people view others, observers have noted an increased interest in ________.

24. LandPort Transportation and Omega Warehousing move and store the products your company sells. The two businesses are examples of ________.

25. Innovations is a producer of electronic circuits that power a variety of technological devices produced by other companies. Innovations sell its products to ________ markets.

26. With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on which of the following?

27. espite the data glut that marketing managers receive, they are most likely to complain that they lack which of the following?

28. A marketing information system (MIS) consists of people and procedures to assess information needs, ________, and help decision makers analyze and use the information.

29. The real value of a company s marketing research and information system lies in the _______.

30. ________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

31. Observational research is best suited for gathering ________ information.

32. What are the two main types of research instruments used to collect primary data?

33. Which of the following is the best advice about creating research questionnaires?

34. You have been asked to locate secondary data for your small organization's research needs. Which of the following is NOT a common source for this type of research?

35. Nathan Zabalas owns a regional chain of drug stores. Before expanding nationwide, Nathan is conducting marketing research to determine the best options for opening new stores. He plans to start by collecting secondary data. Which of the following is NOT a source of secondary data that Nathan might use?

36. Although moreprice-consciousthan other population segments, ________ consumers tend to be strongly motivated by quality and selection. Brands are important. They seem to enjoy shopping more than other ethnic groups do.

37. ________ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday for the Los Angeles Lakers.

38. A ________ consists of the activities people are expected to perform according to the persons around them.

39. A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.

40. Maslow's theory is that ________ can be arranged in a hierarchy.

41. People tend to interpret new information in a way that will support what they already believe. This is called ________.

42. ________ describes changes in an individual's behavior arising from experience.

43. According to one analyst, aHarley-Davidsonmotorcycle can make you feel like "the toughest, baddest guy on the block."Harley-Davidsonpromotes its motorcycles with images of independence, freedom, and power.Harley-Davidsonhas created a(n) ________.

44. Bob's job description had been changed. The rationale for the changes made no sense to Bob when they were explained. Bob continued to perform most of his job duties as usual. He has engaged in ________.

45. An invitation to go skiing for the weekend forced Donna to look at her current wardrobe. She decided she needed a much warmer coat. Donna was in which stage of the purchase decision?

46. Dips in the economy and the instant price comparisons made possible by the internet have both contributed to __________.

47. Another name for systems selling is ________ selling.

48. Which of the following types of factors influencing members of a buying center are typically the most difficult for marketer to assess?

49. Status, empathy, and persuasiveness are all examples of ________ influences on business buyer behavior.

50. B-to-B e-procurement yields many benefits. These include all of the following EXCEPT ________.

51. Sage, Inc., provides food services to schools, hospitals, and nursing homes in the Midwest. Management at Sage is involved in the ________ market.

52. All of the following are difficulties associated with selling to government buyers EXCEPT ________.

53. Most newspapers use ________ so they do not need to rely on only one supplier to provide the tons of paper that they use annually.

54. Which of the following is the most popular method for segmenting markets?

55. When Positive Image, Inc., caters to clothing, cosmetics, and toiletries markets, it is most likely using which type of segmentation?

56. When a business market segment is large or profitable enough to serve, it is termed ________.

57. Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?

58. The 55-year-old baby boomers share common needs in music and performers. When a music company decides to serve this group, the group is called a(n) ________.

59. A product's position is based on important attributes as perceived by ________.

60. Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?

61. "Less-for-much-less" positioning involves meeting consumers' ________.

62. Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the _____________, which addresses the question, what is the buyer really buying

63. Which of the following capital items is NOT considered accessory equipment?

64. In recent years, product safety and environmental responsibility have become major ________ concerns.

65. A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.

66. An alternative to product line stretching is ________, adding more items within the present range of the line.

67. A company can increase its business in four ways. Which is NOT one of these ways?

68. All of the following are methods for developing a differentiated service offer, delivery, or image EXCEPT ________.

69. The total financial value of a brand is estimated through the process of brand ________.

70. A ________ involves the use of a successful brand name to launch new or modified products in a new category.

71. Under what circumstances might it be wise for a company to do little or no test marketing?

72. The team-based new-product development approach uses cross-functional teams that overlap the steps in the process to achieve which of the following goals?

73. ________ is the product life cycle period when sales fall off and profits drop.

74. All of the following are stages in the PLC EXCEPT ________.

75. Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.

76. It's What's Hip, a chain of 18 music and CD stores, has discovered that carrying a weak product during the decline stage of the PLC can be very costly to a firm, and not just in profit terms. Which one of these is NOT likely to be one of those costs?

77. Price is the only element in the market mix that produces ___________.

78. Walmart is famous for using what important type of value pricing?

79. Costs that do not vary with production or sales level are referred to as ________.

80. With target costing, marketers will first ________ and then ________.

81. A company should set prices that will allow ________ to receive a fair profit.

82. In the case of services, captive product pricing is called ___________ pricing.

83. Companies involved in deciding which items to include in the base price and which to offer as options are engaged in ________ pricing.

84. What type of pricing is being used when a company temporarily prices it product below the list price or even below cost to create buying excitement and urgency?

85. Which of the following is NOT on an effective action that a company can take to combat a competitor's price cut on a product?

86. Intermediaries play an important role in matching _________.

87. Companies today are placing greater emphasis on ________.

88. __________ logistics controls the movement of products from points of production to cosnumers.

89. Which of the following is the best example of a direct channel?

90. Specialty stores carry __________ with ______ within them.

91. In-store demonstrations, displays, contests and visiting celebrities are examples of _________. 92. Most shopping centers are ________ containing between 5 and 15 stores; they are close and convenient for consumers. 93. ________ are the largest group of wholesalers. The group can be divided into the two broad types of full-service and limited-service. 94. The use of short-term incentives to encourage the purchase or sale of a product or service is called _______. 95. To communicate effectively, a marketing communicator must ________ the consumer's field of experience. 96. The six buyer-readiness stages include all of the following EXCEPT ________. 97. All of the following are strategies a marketer would use to lead consumers into making the final step toward a purchase EXCEPT which one? 98. An ad for Maybelline age-minimizing makeup in Ladies' Home Journal magazine featured actress Melina Kanakaredes and offered readers a $1-off coupon when they try the new makeup. In terms of the communication model, the sender of this message is ________. 99. Mercy University's initial ads for the school's new MBA program are most likely intended to create ________. 100. All of the following are the examples of cultural pollution EXCEPT ______.