QUESTIONS :
1. (TCO 1) 3M inventor David Windorski's challenge was to design new products for college students. The first step in solving this challenge was to (Points : 3)
pastedGraphic.pdf satisfy students studying needs.
pastedGraphic.pdf advertise the new products he had invented.
pastedGraphic.pdf use word-of-mouth to tell college students about his ideas.
pastedGraphic_1.pdf discover students studying needs.
pastedGraphic.pdf ask 3M to support him while he pursued his new ideas. |
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2. (TCO 1) The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Afterwards, Amanda returned home feeling satisfied that she had performed a good deed. Was this a marketing exchange? (Points : 3)
pastedGraphic.pdf no, because the Red Cross is non-profit organization.
pastedGraphic.pdf yes, because the Red Cross ran an advertisement.
pastedGraphic.pdf yes, because the donated blood was exchanged for a feeling of satisfaction.
pastedGraphic_1.pdf no, because no money was exchanged.
pastedGraphic.pdf no, because the Red Cross did not provide Amanda with a product. |
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3. (TCO 1) The two central concerns of marketing are (Points : 3)
pastedGraphic_1.pdf market share and customer satisfaction.
pastedGraphic.pdf discovering and satisfying needs.
pastedGraphic_2.pdf promotion and sales.
pastedGraphic_2.pdf maximizing an organization's sales and products.
pastedGraphic_3.pdf needs and wants. |
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4. (TCO 6) Sound and Cinema is a company that will turn an ordinary basement into a home theater. It advertises in publications that are mailed to homeowners in subdivisions in which the least expensive home costs $550,000. These homeowners are the __________ for Sound and Cinema. (Points : 3)
pastedGraphic_3.pdf mass market
pastedGraphic_2.pdf tangent market
pastedGraphic_2.pdf market aggregation
pastedGraphic_3.pdf target market
pastedGraphic_2.pdf promotional market |
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5. (TCO 6) Which of the following would a marketer use as a synonym for controllable marketing mix factors? (Points : 3)
pastedGraphic_3.pdf the five external environmental forces
pastedGraphic_3.pdf macromarketing forces
pastedGraphic_3.pdf the five Cs
pastedGraphic_3.pdf the four Ps
pastedGraphic_2.pdf price, product, production, and promotion |
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6. (TCO 1) Profit is (Points : 3)
pastedGraphic_3.pdf the point at which company assets equal company liabilities.
pastedGraphic_2.pdf is the reward to a business firm for the risk it undertakes in marketing its offerings.
pastedGraphic_2.pdf the goodwill earned from implementing the societal marketing concept.
pastedGraphic_2.pdf the money earned when the economic order quantity is maintained.
pastedGraphic_2.pdf accurately described by all of the above. |
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7. (TCO 1) Which of the following statements about strategy is most true? (Points : 3)
pastedGraphic_3.pdf By following the best strategy an organization can be all things to all people.
pastedGraphic_2.pdf Once an organization is focused and has developed goals, it can then develop its strategies.
pastedGraphic_3.pdf Strategic direction must be explicit to be set by organizations.
pastedGraphic_2.pdf Strategy is an organization s long-term course of action designed to deliver a unique customer experience while achieving its goals.
pastedGraphic_2.pdf All of the above are true of good strategy. |
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8. (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 3)
pastedGraphic_2.pdf listening to customers.
pastedGraphic_2.pdf developing offerings.
pastedGraphic_3.pdf producing offerings.
pastedGraphic_2.pdf implementing marketing program activities.
pastedGraphic_3.pdf doing all of the above. |
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9. (TCO 1) Often used interchangeably with vision a(n) __________ statement frequently has an inspirational theme. (Points : 3)
pastedGraphic_3.pdf point of difference
pastedGraphic_2.pdf mission
pastedGraphic_2.pdf business map
pastedGraphic_3.pdf internal situation analysis
pastedGraphic_2.pdf CEO s annual |
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10. (TCO 1) Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________, including the firm itself. (Points : 3)
pastedGraphic_3.pdf firms in the industry
pastedGraphic_2.pdf firms in alternative industries
pastedGraphic_2.pdf firms surveyed by the U.S. Government
pastedGraphic_3.pdf firms sharing in marketing principles
pastedGraphic_3.pdf domestic firms |
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11. (TCO 1) Step two in the planning phase of the strategic marketing process is (Points : 3)
pastedGraphic_2.pdf the situation analysis.
pastedGraphic_3.pdf the market-product focus and goal setting.
pastedGraphic_3.pdf the marketing program.
pastedGraphic_2.pdf implementation
pastedGraphic_3.pdf obtaining resources. |
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12. (TCO 1) A recent Congressional initiative mandated that the U.S. Department of Transportation (USDOT) establish a national traffic information collection system. The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as (Points : 3)
pastedGraphic_3.pdf a strength if the company has an existing working relationship with the USDOT.
pastedGraphic_3.pdf a threat if the USDOT will give this information directly to the radio stations.
pastedGraphic_2.pdf a weakness if the company that provides local traffic information has no employees technologically capable of using the USDOT system..
pastedGraphic_3.pdf an opportunity if the USDOT is creating a network of local traffic-information providers to address the mandate.
pastedGraphic_2.pdf all of the above |
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13. (TCO 1) There are no magic one-size-fits-all guidelines for writing successful marketing and business plans. Nevertheless, all of the following generally apply EXCEPT (Points : 3)
pastedGraphic_3.pdf use a direct, professional writing style.
pastedGraphic_3.pdf be positive and specific to convey potential success.
pastedGraphic_3.pdf use bullet points for succinctness and emphasis.
pastedGraphic_2.pdf save the most important points for the conclusion.
pastedGraphic_2.pdf strive to develop a plan 15 to 35 pages in length, not including financial projections and appendixes. |
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14. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 3)
pastedGraphic_2.pdf environmental trending.
pastedGraphic_3.pdf organizational scanning.
pastedGraphic_3.pdf environmental scanning.
pastedGraphic_2.pdf a SWOT analysis.
pastedGraphic_2.pdf acquisition scanning. |
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15. (TCO 5) Social forces (Points : 3)
pastedGraphic_3.pdf include demographics and values.
pastedGraphic_3.pdf usually have little impact on marketing strategy.
pastedGraphic_2.pdf include reduced emphasis on trade regulation.
pastedGraphic_3.pdf empower workers to improve their performance.
pastedGraphic_2.pdf encourage international trade. |
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16. (TCO 5) Studies of the __________ characteristics of the U.S. population suggest several important trends. Generally, the population is becoming larger, older, and more diverse. Marketers are developing products that will appeal to these target markets. (Points : 3)
pastedGraphic_3.pdf competitive
pastedGraphic_3.pdf regulatory
pastedGraphic_3.pdf geographic
pastedGraphic_3.pdf demographic
pastedGraphic_2.pdf economic |
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17. (TCO 6) Value consciousness is (Points : 3)
pastedGraphic_3.pdf changing values with careful consideration.
pastedGraphic_3.pdf multi-dimensional consumption.
pastedGraphic_2.pdf buyer excellence.
pastedGraphic_3.pdf the concern for obtaining the best quality, features, and performance of a product or service for a given price.
pastedGraphic_3.pdf the concern for obtaining the best price of a product or service. |
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18. (TCO 5) In a(n) __________ economy, the cost to produce and buy products and services escalates as prices increase. (Points : 3)
pastedGraphic_3.pdf deflationary
pastedGraphic_2.pdf inflationary
pastedGraphic_3.pdf escalated
pastedGraphic_3.pdf recessionary
pastedGraphic_2.pdf depressive |
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19. (TCO 5) Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how __________ help(s) to improve or replace existing products and companies. (Points : 3)
pastedGraphic_3.pdf technology
pastedGraphic_3.pdf medicine
pastedGraphic_3.pdf legal forces
pastedGraphic_2.pdf ecology
pastedGraphic_3.pdf competitive forces |
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20. (TCO 5) __________ is the form of competition where just a few companies control the majority of industry sales. (Points : 3)
pastedGraphic_4.pdf Pure competition
pastedGraphic_5.pdf Cross-market competition
pastedGraphic_4.pdf Oligopoly
pastedGraphic_4.pdf Monopolistic competition
pastedGraphic_5.pdf Monopoly |
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21. (TCO 6) Which stage in the consumer purchase decision process suggests criteria to use for the purchase, yields brand names that might meet the criteria, and develops consumer value perceptions? (Points : 3)
pastedGraphic_4.pdf problem recognition
pastedGraphic_4.pdf information search
pastedGraphic_5.pdf alternative evaluation
pastedGraphic_4.pdf purchase decision
pastedGraphic_4.pdf post purchase evaluation |
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22. (TCO 6) Putting a dollar value on what a satisfied, loyal repeat customer spends on a firm's products during a year or a lifetime reveals that (Points : 3)
pastedGraphic_4.pdf focusing on customer retention is not very profitable.
pastedGraphic_4.pdf the calculation is flawed and not practical.
pastedGraphic_5.pdf companies that have focused on customer retention have not yet seen results.
pastedGraphic_4.pdf focusing on customer retention can be very profitable.
pastedGraphic_5.pdf companies are generally more profitable if they try to attract new customers rather than focus on customer retention. |
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23. (TCO 6) Organizational buyers can be divided into three different markets. They are (Points : 3)
pastedGraphic_4.pdf industrial, wholesaler, and retailer.
pastedGraphic_5.pdf industrial, retailer, and government.
pastedGraphic_4.pdf retailer, manufacturer, and government agencies.
pastedGraphic_4.pdf industrial, government, and ultimate consumer.
pastedGraphic_4.pdf industrial, reseller, and government. |
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24. (TCO 6) Which of the following statements accurately characterizes the organizational buying process? (Points : 3)
pastedGraphic_5.pdf Multiple buying influences exist and many people may be involved in the purchase decision process.
pastedGraphic_4.pdf Buying objectives, procedures, and criteria are well established.
pastedGraphic_4.pdf Negotiations between buyers and sellers regarding price is common.
pastedGraphic_4.pdf The purchase of goods or services is usually handled by technically qualified and professional buyers.
pastedGraphic_5.pdf All of the above statements accurately characterize the organizational buying process. |
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25. (TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) ability to meet the quality specifications required for the item, (3)__________, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity. (Points : 3)
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taste of the buyer
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personal friendship with sales representative
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ability to meet required delivery schedules
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current mood of the buyer
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opinion of the firm's senior management