251 Marketing Week One Practice Questions

The marketing concept is a philosophy that states that an organization should try to satisfy customers' a.​increase market share. b.​increase sales. c.​achieve the organization's goals. d.​produce high-quality products. e.​coordinate its activities to increase production

achieve the organization's goals

A marketing ethics issue likely exists when a.company members disagree about a marketing decision. b.an activity does not benefit the organization but benefits the environment. c.an activity results in increased prices for the consumer. d.a consumer is dissatisfied with a marketing decision. e.an individual or organization must choose from among several actions that must be evaluated as right or wrong.

an individual or organization must choose from among several actions that must be evaluated as right or wrong

According to the textbook, a manager's duties in an environmental analysis include a.checking information for accuracy, resolving inconsistencies, and assigning significance to the findings. b.observation and assessment. c.conducting research, assessment, and reporting. d.observation, market research, and fact finding. e.checking the company database, conducting research, and reporting.

checking information for accuracy, resolving inconsistencies, and assigning significance to the findings

According to some environmentalists, what are the three types of products that all products should be reduced to? a.Durable goods, natural resources, and unsalables b.Nondurable goods, durable goods, and consumables c.Consumables, durable goods, and unsalables d.Environmental goods, recyclables, and salables e.Permanents, temporaries, and renewable resources

conumables, durable goods, and unsalables

In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in a.federal law. b.cultural values. c.demographics. d.consumerism. e.technological forces.

demographics

A solution cannot be ethical if there are different viewpoints on the issue within the organization.​ a. True b. False

false

Distribution, price, promotion, and product are all elements of a.​marketing strategy. b.​the marketing mix. c.​a target market. d.​a consumer good. e.​a business strategy.

marketing strategy

A marketing objective should be expressed in clear, simple terms; be _____________; specify a time frame for completion; and ensure the marketing objective is _____________ with both business-unit and corporate strategies. a.precise; centralized b.encompassing; consistent c.measurable; consistent d.legalistic; aligned e.detailed; decentralized

measurable; consistent

​Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called a.​strengths. b.​market strategies. c.​market niches. d.​threats. e.​opportunities.

opportunities

A firm's culture may be expressed informally through a.codes of conduct. b.dress codes. c.ceremonies. d.organizational stories. e.manuals.

organizational stories

A business that contributes resources to the community to improve the quality of life is taking on a(n) ____ responsibility. a.ethical b.legal c.cost d.philanthropic e.economic

philanthropic

Consumer confidence and willingness to spend begins to increase during periods of ____, and marketers must remain very flexible to make the necessary adjustments. a.depression b.prosperity c.recovery d.growth e.recession

recovery

​A _______________ orientation helps to redefine the marketers' focus by encouraging them to broadly consider those entities most impacted by the marketers' actions. Those entities include employees, suppliers, regulators, shareholders, customers, and the community. a.​shareholder value b.​profit c.​market d.​stakeholder e.​compliance

stakeholder

More than half of the research of technology created is paid for by a.corporations. b.state and local governments. c.the federal government. d.large universities. e.private investors.

the federal government

Marketers resolve ethical issues based on their experiences and what they learn from others in the organization. The outcome of this learning process depends on _____________________, opportunity for unethical behavior, and exposure to others who behave ethically or unethically. ​a.​their educational training b.​their level in the organization c.​their incentive plan d.​the strength of personal values e.​the monetary factors that influence ethical decision making

the strength of personal values

​The definition of marketing implies that ____ should receive benefits from exchange relationships. a.​only customers b.​only businesses c.​company management d.​both customers and businesses e.​only the most important customers

both customers and businesses

​Your marketing team has started the analysis of your company's marketing environment. Competition has been very intense in recent years in your industry, so you decide to place more emphasis on analyzing the competitive forces in your industry. You group your competitors into the four types that a firm normally faces. In general, which one of the four types of competitors do you think will be the most formidable for your company? a.Total budget competitors​ b.​Features-oriented competitors c.​Brand competitors d.​Generic competitors e.​Product competitors

brand competitors

​One of the most significant principles of business is that the primary objective of the executive management of a corporate entity is to engage in strategic actions that increase shareholder value. ​If we think of this objective in terms of the four dimensions of social responsibility, it would be part of the a.​Philanthropic dimension b.​Ethical dimension c.​Legal dimension d.​Economic dimension e.​Marketing dimension

economic dimension

Organizations should define themselves not according to the products they produce but according to a.​how profitable they are. b.​the price of their stock. c.​the abundance of their product selection. d.​how they treat employees. e.​how they satisfy customers.

how they satisfy customers

Communicating with the marketing unit, motivating marketing personnel, and coordinating marketing activities are part of the _____________ component of strategic planning. a.Formulating marketing strategies b.Assessing organizational resources c.Marketing evaluation d.Developing the marketing plan e.Marketing implementation

market implementation

Cyberdyne Industries' clever promotion campaign, which included YouTube videos of its artificial intelligence software in action as well as clever tweets and Instagram posts, helped boost the firm's product sales. This would suggest that Cyberdyne is using which of the following competitive strategies? a.Diversification b.Divestiture c.Product development d.Market development e.Market penetration

market penetration

An expected level of performance against which actual performance can be compared is a a.standard performance. b.standard of excellence. c.step in sales analysis. d.performance standard. e.performance objective.

performance standard

​The marketing mix is built around the a.​product. b.​company. c.​customer. d.​employee. e.​retail outlet.

product

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines? a.​Product, price, distribution, and promotion variables b.​Marketing environment variables c.​Product and promotion variables d.​Product, price, and customer variables e.​Product, price, customer, and promotion variables

product, price, distribution, and promotion variables

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship? a.​Profits for the seller b.​A good bargain on the product for the buyer c.​Reducing the seller's inventory d.​One party having to compromise in the exchange

profits for the seller

The marketing concept focuses on a.​achieving the goals of top executives. b.​creating maximum visibility for the firm. c.​maximizing sales in a way that helps to achieve organizational objectives. d.​maximizing market share in a way that helps to achieve organizational objectives. e.​satisfying customers' needs in a way that helps to achieve organizational objectives.

satisfying customers' needs in a way that helps to achieve organizational goals

The three basic forms that a product can take are a.​markets, products, and images. b.​goods, ideas, and intangibles. c.​brands, services, and tangibles. d.​services, ideas, and goods. e.​ideas, services, and things.

services, ideas, and goods

Long-term relationships with profitable customers is the key objective of a.​personal selling. b.​customer relationship management. c.​production oriented firms. d.​e-marketing. e.distribution channels.

customer relationship management

The way to deal with ethical issues is proactively a.​right before the problem is made public. b.​after the problem has received extensive media attention. c.​immediately after the problem is discovered. d.​when lawsuits are brought against the company. e.​during the strategic planning process

during the strategic planning process