Advertisement
Not a member of Pastebin yet?
Sign Up,
it unlocks many cool features!
- Marketing Final Exam Ch 1-7
- ------------------------------------------------------
- Question 1: Marketing activities and jobs have not changed much over the past 100 years.
- Answer: F
- Question 2: Specialization of labor resulted in less of a given product being produced to exchange with other people.
- Answer: F
- Question 3: Merchandising (retail) businesses take raw materials and change their form so that they can be used in the production of other products or in the operation of businesses or equipment.
- Answer: F
- Question 4: Businesses that do not use the marketing concept are more concerned about producing products than understanding customer needs.
- Answer: T
- Question 5: One of the first efforts of the new marketing departments of the 1950s and 1960s was to reduce the use of advertising.
- Answer: F
- Question 6: Individuals benefit from marketing because it improves the exchanges that occur between businesses and consumers.
- Answer: T
- Question 7: Marketing skills are valuable only to people who are directly employed in the field of marketing.
- Answer: F
- Question 8: Marketing activities are not especially important for companies engaging in international trade, because people in other countries do not respond well to modern marketing techniques.
- Answer: F
- Question 9: Marketing encourages businesses to provide products and services that consumers want. It also helps educate consumers to make better purchasing decisions.
- Answer: T
- Question 10: When customers’ wants and needs are met, they are more likely to be loyal and continue to purchase from the business.
- Answer: T
- Question 11: Marketing activities may need to be used to sell low-quality products, but high-quality products do not require marketing.
- Answer: F
- Question 12: Many important social issues are now receiving much attention because of effective marketing.
- Answer: T
- Question 13: Consumerism first became an important influence on business practices in the 1980s under President Ronald Reagan.
- Answer: F
- Question 14: Businesses must comply with consumer protection laws or risk fines and a loss of business.
- Answer: T
- Question 15: People’s wants and needs are unlimited; in the same way, resources are also unlimited.
- Answer: F
- Question 16: Individuals who purchase products and services to satisfy needs are producers.
- Answer: F
- Question 17: If a need or want is particularly important or strong, a consumer might be willing to spend more money to satisfy it.
- Answer: T
- Question 18: If consumers believe there is only one product or brand that meets their needs, they will usually be willing to pay a higher price.
- Answer: T
- Question 19: When competition is intense—with many businesses offering the same types of products or services—there are increased opportunities for a business to succeed than when there is little competition.
- Answer: F
- Question 20: The law of supply states that when the price of a product is increased, less will be supplied; when the price is decreased, more will be supplied.
- Answer: F
- Question 21: The point where supply and demand for a product or service is equal is called market price.
- Answer: T
- Question 22: If a business operating as a monopoly is unregulated by the government, it can charge any price it chooses. The consumer either pays the price set by the business or goes without.
- Answer: T
- Question 23: Products that provide great satisfaction have a higher economic utility, while those providing less satisfaction have a lower utility.
- Answer: T
- Question 24: A bank that stays open in the evening is offering place utility to its customers.
- Answer: F
- Question 25: Marketing is responsible for identifying and planning for opportunities.
- Answer: T
- Question 26: The marketing concept keeps the main focus on customers’ needs during the planning, production, distribution, and promotion of a product or service.
- Answer: T
- Question 27: Businesses that use the marketing concept first develop a product or service and then decide how it will be marketed.
- Answer: F
- Question 28: Bringing a new product to the marketplace is expensive.
- Answer: T
- Question 29: Much of the planning efforts of a company are used to determine what to sell and how it will be presented to the customer.
- Answer: T
- Question 30: The most important type of marketing research for most businesses is the study of potential and current customers.
- Answer: T
- Question 31: Monopolies are often more concerned about protecting their market and making a profit than about meeting the needs of consumers.
- Answer: T
- Question 32: Most service businesses work directly with their customers rather than through a channel of distribution.
- Answer: T
- Question 33: Nonprofit groups such as the Red Cross have little need for marketing services.
- Answer: F
- Question 34: When products have limited differences, businesses try to compete for sales emphasizing such things as their name, availability, or price.
- Answer: T
- Question 35: As businesses develop an international focus, differences among customer groups and the number of distinct market segments tend to diminish.
- Answer: F
- Question 36: Competition is becoming much more intense for most businesses.
- Answer: T
- Question 37: Many companies keep a complete record of all transactions they have with a customer. Such records are examples of internal marketing information.
- Answer: T
- Question 38: The Wall Street Journal is probably the main source of internal information for most businesses.
- Answer: F
- Question 39: A marketing information system is an organized method of collecting, storing, analyzing, and retrieving information to improve the effectiveness and efficiency of marketing decisions.
- Answer: T
- Question 40: For managers and other decision makers, the most important part of an MkIS is the output.
- Answer: T
- Question 41: Random sampling ensures that everyone in the population has an equal chance of being selected in the sample.
- Answer: T
- Question 42: Non-numerical data is much easier for researchers to analyze than numerical data.
- Answer: F
- Question 43: Open-ended questions are often used when researchers are attempting to identify the problem or are completing a situational analysis.
- Answer: T
- Question 44: A population is a specific city or geographic area in which marketing experiments are conducted.
- Answer: F
- Question 45: You cannot implement the marketing concept without understanding customers.
- Answer: T
- Question 46: A house is an example of a product that satisfies just one need: the physiological need for shelter.
- Answer: F
- Question 47: Research has shown that fear is never an effective emotional motive for customers.
- Answer: F
- Question 48: Patronage purchasing is usually limited to large, expensive purchases.
- Answer: F
- Question 49: The decision processes and actions of consumers as they buy services and products are known as buyingbehavior.
- Answer: T
- Question 50: The strength of the need and urgency to satisfy the need is an important part of the first step in the consumer decision-making process.
- Answer: T
- Question 51: After a consumer gathers information about how to satisfy her need, the next step is to make the purchase.
- Answer: F
- Question 52: When a purchase has been made, the consumer decision-making process has been completed.
- Answer: F
- Question 53: Limited decision making is not strictly for expensive items.
- Answer: T
- Question 54: Marketers have found that consumers who choose a product using routine decision making want and need just as much information as consumers involved in extensive decision making.
- Answer: F
- Question 55: Offering cellular telephone plans suited to the number of phones in a family and the amount of minutes used in one month is an example of marketing a product based on product usage.
- Answer: T
- Question 56: The product user positioning strategy encourages use of a product or service by associating a personality or type of user with the product.
- Answer: T
- Question 57: The price and quality positioning strategy always stresses higher price as a sign of quality.
- Answer: F
- Question 58: Competition forces businesses to offer reasonable prices for the products and services that consumers use.
- Answer: T
- Question 59: The type of competition faced by a business will affect its positioning.
- Answer: T
- Question 60: When businesses are in direct competition, competitors’ pricing strategies are very important.
- Answer: T
- Question 61: Making products available at more locations is always a good idea, because that will make it easier for customers to obtain your products.
- Answer: F
- Question 62: The Internet is virtually useless as a source of current competitive information.
- Answer: F
- Question 63: Which of the following businesses is directly involved in marketing? (main function of business)
- Answer: A
- Question 64: This marketing function provides security for products, personnel, and customers.
- Answer: C
- Question 65: Exchanging products or services with others by agreeing on their values is known as
- Answer: D
- Question 66: A location where people bring products to be conveniently exchanged is a
- Answer: A
- Question 67: Which business function involves developing, implementing, and evaluating the plans and activities of a business?
- Answer: B
- Question 68: The first step of the marketing concept is to
- Answer: D
- Question 69: When a company decides which delivery service to use to get its products to customers, which component of the marketing mix is being considered?
- Answer: C
- Question 70: An emphasis on producing and distributing new products was characteristic of the
- Answer: B
- Question 71: An approach to customer service that gives employees the authority to solve many customer problems is called
- Answer: D
- Question 72: Businesses that use the marketing concept
- Answer: B
- Question 73: What percentage of jobs in the United States are marketing jobs or have marketing as a major job responsibility?
- Answer: B
- Question 74: Marketing can
- Answer: D
- Question 75: Which of the following marketing techniques often results in consumers making unneeded purchases?
- Answer: D
- Question 76: The average cost of all marketing activities is about ___ percent of the price of products.
- Answer: C
- Question 77: Which of the following is not a common complaint about marketing?
- Answer: A
- Question 78: An organized effort to influence a company by refusing to purchase its products is called a
- Answer: D
- Question 79: Which of the following is not one of the four rights identified in the Consumer Bill of Rights?
- Answer: C
- Question 80: Which of the following is a consumer protection organization sponsored by businesses?
- Answer: A
- Question 81: The basic economic problem is
- Answer: D
- Question 82: In this kind of economy, the government owns and controls important resources and makes the decisions about what will be produced and consumed.
- Answer: A
- Question 83: Which of the following is not characteristic of a private enterprise economy?
- Answer: B
- Question 84: The economic relationship between the quantity of a product consumers are willing and able to purchase and the price is called
- Answer: C
- Question 85: Marketers in a local business are most concerned with
- Answer: A
- Question 86: If there is a very large supply of a product, consumers will usually
- Answer: B
- Question 87: Which of the following factors usually would not influence what and how many products or services a business will produce in a market economy?
- Answer: B
- Question 88: What type of situation exists in a market in which many firms compete with products that are somewhat different?
- Answer: A
- Question 89: This type of economic utility results from changes in the tangible parts of a product or service.
- Answer: D
- Question 90: When a business offers to sell products to customers on credit, what kind of utility is it offering to customers?
- Answer: B
- Question 91: All of the following statements about marketing today are true except
- Answer: C
- Question 92: All of the following are common reasons for business failure except
- Answer: A
- Question 93: With the marketing concept, planning begins by
- Answer: B
- Question 94: Businesses deal with customer needs in a variety of ways. Which of the following is the most effective?
- Answer: C
- Question 95: Probably the most difficult marketing decision to understand and plan is
- Answer: D
- Question 96: The first step in the consumer decision-making process is to
- Answer: B
- Question 97: Marketers use research techniques to
- Answer: D
- Question 98: Companies in this type of economic environment find the marketing concept to be of the most value.
- Answer: C
- Question 99: Which element of the marketing mix usually receives the most attention from producers and manufacturers?
- Answer: A
- Question 100: Most final pricing decisions are made by
- Answer: C
- Question 101: Most businesses today
- Answer: B
- Question 102: Type of competition, economic regulations, and government regulations are all considered information about
- Answer: C
- Question 103: Effective marketing information
- Answer: A
- Question 104: What is the first step a business usually takes in the process of gathering marketing information?
- Answer: D
- Question 105: The most important performance measure for a company is
- Answer: A
- Question 106: Which of the following is not an external information source for a business?
- Answer: A
- Question 107: Which MkIS element answers the question, “Which methods should be used to organize and study the information in order to make effective marketing decisions?”
- Answer: D
- Question 108: The first step in implementing a marketing research study is to
- Answer: C
- Question 109: Which of the following is an example of a closed-ended question?
- Answer: B
- Question 110: A carefully designed and controlled situation in which all important factors are the same except the one being studied is called a(n)
- Answer: D
- Question 111: Which of the following is an example of a final consumer?
- Answer: B
- Question 112: Which of the following is at the top of Abraham Maslow’s hierarchy of needs?
- Answer: A
- Question 113: When you buy a Father’s Day card for your dad to show him that you love him, which of the following is probably influencing you the most?
- Answer: B
- Question 114: Patronage buying motives are based on
- Answer: D
- Question 115: You just realized you need to buy a cake for your sister’s birthday party, so you begin looking through the phone book for a nearby bakery. Which stage of the consumer decision-making process are you in?
- Answer: D
- Question 116: Which step in the consumer decision-making process involves reaching an agreement with the business selling the product on what you will buy, the cost, the payment method, and how you will receive the product?
- Answer: A
- Question 117: The enduring pattern of emotions and behaviors that define an individual is known as
- Answer: C
- Question 118: The history, beliefs, customs, and traditions of a group is called
- Answer: A
- Question 119: What kind of decision making are you probably using when you buy a gallon of milk?
- Answer: C
- Question 120: Extensive decision making
- Answer: B
- Question 121: This approach directs a company’s marketing mix at a large and heterogeneous group of consumers.
- Answer: B
- Question 122: People’s interests and values are referred to as
- Answer: D
- Question 123: Market segments should be evaluated on all of the following characteristics except
- Answer: B
- Question 124: Which of the following is the last step in identifying potential market segments?
- Answer: D
- Question 125: If a camera manufacturer markets its cameras as taking sharper, clearer pictures than competing models, how is it positioning its products?
- Answer: B
- Question 126: Which of the following is an example of indirect competition?
- Answer: C
- Question 127: Which of the following is not a benefit of competition?
- Answer: C
- Question 128: A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in
- Answer: A
- Question 129: Businesses engage in which of the following activities to gain information about the competition?
- Answer: D
- Question 130: An exhibition where companies associated with an industry gather to showcase their products is called a(n)
- Answer: A
Advertisement
Add Comment
Please, Sign In to add comment
Advertisement