Principles of marketing Practice Questions

Transcription

1 Principles of marketing Practice Questions 1. Which marketing orientation assumes people will buy more goods and services if aggressive marketing techniques are used? a. Sales b. Production c. Market d. Customer e. Marketplace 2. Fujifilm Computer Products has improved the efficiency and productivity of its plant, which manufactures printing technology. For the new fiscal year, the company projects a production increase of 25 percent. It has instructed its sales force to aggressively distribute and promote its printers. The CEO is sure the market will absorb more product if the sales force is determined and assertive. Fujifilm appears to have a orientation. a. market b. production c. sales d. customer e. marketplace 3. At customers are encouraged to share their ideas and thoughts about how Starbucks can better serve their customers. Starbucks customers told management that they wanted to be recognized for choosing Starbucks coffee. So Starbucks instituted the Starbucks Reward program with money saving benefits to their Starbuck card-holders. Starbucks is an example of a company with a -oriented philosophy. a. transactional b. sales c. production d. societal marketing e. market 4. The marketing concept involves: a. focusing on customers' wants and needs so that the organization can distinguish its product (or products) from competitors' products b. satisfying management's needs and wants with the idea of maximizing profits in the short run c. selling as much product as possible under the assumption people will buy more goods and services if aggressive selling techniques are used d. selling as much as possible under the assumption consumers will buy more at lower prices e. focusing on production in order to increase product quality and lower prices

2 5. The sales and market orientations differ on all of the following characteristics EXCEPT: a. those to whom the product is directed b. firm s performance c. firm s business d. firm s primary goal e. tools to achieve goals 6. Marketers interested in offering customer value can: a. offer products that perform b. give the buyer facts c. offer organization-wide commitment in service and after-sales support d. avoid unrealistic pricing e. do all of these 7. Which of the following is the customer s evaluation of a good or service in terms of whether that good or service has met his or her needs and expectations? a. Value b. Perception c. Attitude d. Dissonance e. Satisfaction 8. Kellogg s gives consumers the chance to receive a free DVD. Consumers who buy five boxes of specially marked cereal can cut out the coupons and mail in their completed official form to get a free DVD. Kellogg s is engaging in: a. transactional marketing b. sports distribution c. relationship marketing d. one-to-one marketing e. customer transformation 9. Most successful relationship marketing strategies depend on: a. customer-oriented personnel b. effective training programs c. employees with authority to make decisions and solve problems d. teamwork e. all of these 10. gives customers the feeling their concerns are being addressed and at the same time gives employees the feeling their expertise matters to management. a. Management-employee synergy b. Organizational entropy c. Managerial reciprocity d. Empowerment e. Delegation

3 11. A sales-oriented firm defines its business (or mission) in terms of: a. employees b. goods and services c. customers d. competitors e. benefits 12. is the managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities. a. Tactical management b. The market audit c. Functional planning d. Environmental scanning e. Strategic planning 13. A subgroup of a single business or a collection of related businesses within the larger organization is called a(n): a. conglomerate b. joint venture c. strategic business unit (SBU) d. oligarchy e. strategic alliance 14. Which of the following is a type of strategic alternative that tries to increase market share among existing customers? a. Vertical integration b. Product penetration c. Divestment d. Horizontal integration e. Market penetration 15. Years ago, Arm & Hammer baking soda convinced millions of homemakers that their product could be effective in keeping refrigerators smelling fresh. After years of languishing sales, this campaign led to a huge increase in sales of a simple, basic product. This is a classic example of a strategy. a. market development b. product development c. market penetration d. product penetration e. divestment

4 16. Pure Digital Technologies created the Flip, a digital camera that is priced around $150. It filled a gap between expensive digital cameras and webcams. The Flip plugs straight into your computer and the video can easily be viewed and shared instantly. Creating a new product for a new market is called. a. divestment b. segment development c. target marketing d. diversification e. directed growth 17. The is a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate. a. market audit b. portfolio model c. experience matrix d. market development analysis e. market opportunity analysis 18. All of the following are categories used in the Boston Consulting Group s portfolio model EXCEPT: a. cash cows b. stars c. problem children d. meat eaters e. dogs 19. Tide laundry detergent is the market leader, but overall industry growth is low in this market. Tide would be classified as a in a portfolio model. a. star b. cash cow c. problem child d. question mark e. dog 20. Before Heinz sold its 9-Lives brand cat food unit, the company identified the product as having a low market share in a high-growth market. The portfolio model would classify 9-Lives as a(n): a. star b. exclamation point c. problem child d. cash cow e. widow 21. A written document that acts as a guidebook of marketing activities for the marketing manager is known as the. a. strategy document b. marketing plan c. vision statement d. mission statement e. strategic plan

5 22. All of the following are elements of the marketing plan EXCEPT: a. business mission statement b. situation analysis c. target market strategy d. marketing mix e. portfolio analysis 23. A statement of the firm s business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions is known as a(n): a. business audit b. marketing plan c. mission statement d. environmental focus e. portfolio model 24. The SWOT acronym refers to a firm s analysis of its: a. sales, width of product mix, observations, and technology b. situations, wealth, organizational strengths, and target markets c. strengths, weaknesses, opportunities, and threats d. service levels, willingness to spend, organizational culture, and total revenues e. strategies, willingness to change, objectives, and trends 25. After learning that many of their customers were shopping at a nearby health-food store for freerange chickens and organic produce, IGA grocery stores began stocking more organic items. IGA adjusted its market strategy based on a. market sampling b. internal audit c. environmental scanning d. competitive analysis e. strategic analysis 26. The set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition is known as a(n): a. environmental advantage b. experience curve c. competitive advantage d. market segment e. strategic business unit 27. Which of the following is NOT a type of competitive advantage? a. Management structure b. Cost c. Product/service differentiation d. Niche strategies e. All of these choices are types of competitive advantages

6 28. Everyone knows the brand name Maytag. Maytag is what many consumers think of when they think of home appliances. This widely recognized brand name is a source of: a. a product differentiation competitive advantage b. a cost advantage c. market augmentation d. a niche competitive advantage e. none of these things 29. An advantage that cannot be copied by the competition is called a(n) competitive advantage. a. sustainable b. monopolistic c. primary d. unique e. dominant 30. All of the following are characteristics of a good objective EXCEPT: a. profitable b. realistic c. measurable d. time-specific e. compared to a benchmark 31. is the process of gauging the extent to which marketing objectives have been achieved during a specified time period. a. Implementation b. Control c. Heuristic measurement d. Evaluation e. Mechanistic compliance 32. All of the following are factors in the external environment affecting marketing EXCEPT: a. marketing mix b. economic conditions c. technology d. political and legal factors e. competition 33. factors are environmental factors that include our attitudes, values, and lifestyles. a. Social b. Economic c. Political d. Competitive e. Demographic

7 34. A(n) is the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to traditional stereotypes. a. aggregated lifestyle b. component lifestyle c. psychographic mode of living d. demographically defined lifestyle e. targeted lifestyle 35. The growth of dual-income families has resulted in: a. burnout b. a sense of entitlement c. decreased discretionary income d. decreased GNP e. increased purchasing power 36. The study of people's vital statistics, such as age, race and ethnicity, and location, is called: a. cultural sociology b. psychometrics c. ecology d. ethnography e. demography 37. Which of the following is NOT a demographic characteristic of a population? a. Income level b. Age c. Values d. Education e. Birthrate 38. The group of people in the United States who were born between 1946 and 1964 are known as: a. generation Xers b. gray markets c. synergistic cohorts d. the baby bust generation e. baby boomers 39. The majority of Hispanic Americans are of descent. a. Mexican b. Puerto Rican c. Spanish d. South American e. Cuban 40. Which ethnic group has the highest average family income? a. Hispanic Americans b. African Americans c. Asian Americans d. South Americans

8 e. Cuban Americans 41. Recession, inflation, and consumers incomes that influence the marketing environment are called factors. a. economic b. socio-demographic c. political d. government e. consumption 42. is the primary determinant of a person s earning potential. a. Race b. Education c. Social class d. Gender e. Marital status 43. A period of economic activity characterized by negative growth, which reduces demand for goods and services, is called: a. stagnation b. inflation c. recession d. price escalation e. parity 44. Laws and regulations of various governments and their ongoing development and change are an example of factors that are part of the external environment of all organizations. a. economic investment b. political and legal c. research and development d. competitive e. demographic 45. Blogs created by consumers can be used to assess customer attitudes toward new products as well as customer perceptions of new products. Marketers ability to search for key words used in the blogs is an example of a change in the factor of the external environment. a. psychographic b. technological c. competitive d. demographic e. economic