MARK 3000 Exam #1 Practice Questions

Stephanie is looking to buy a new car, but she is really worried about gas costs. She is open to considering several different makes and models, but she refuses to buy a car that gets less than 28 miles to the gallon in city driving. Stephanie is basing her decision on a. A compensatory decision rule b. Habitual decision making c. A noncompensatory decision rule d. Temporal factors e. Social factors

C

VALS is the most widely used _________________ segmentation tool. a. geographic b. behavioral c. psychographic d. benefits e. geodemographic

C

When Maya decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but she would only consider those brands she could buy at her local Best Buy electronics store. This represents Maya's ________________ set. a. universal b. retrieval c. evoked d. deterministic e. behavioral

C

When Polo Ralph Lauren offers different product lines at different price points, it is trying to capture the market by a. focusing exclusively on its core brand b. doing continual test marketing c. using segmentation, targeting, and position d. trying lots of options to find out which one works e. offering everything to everyone

C

When engaged in the consumer decision-making process, we decide how much time and effort to expend searching for information based partly on associated with the product or service being considered. a. The results of the external search b. The results of habitual decision making c. The degree of perceived risk d. The alternative evaluation process e. Postpurchase dissonance

C

When marketers look at advertising media, they often begin with viewer or listeners profiles such as age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using _____________ to see whether the media fit with their advertising agenda. a. Country culture b. Regional culture c. Demographics d. Micromarketing measures e. Scenario planning

C

Which of the following statements exemplifies the marketing concept: a. Sell what you can make b. Sell what you can c. Make what you can sell d. Make what you can

C

While all elements of the marketing mix contribute in some way to value, which part of the marketing mix is specifically responsible for communicating value? a. Product b. Place c. Promotion d. Price e. Planning

C

_____________________ is/are viewed as the most important social institution for many consumers, strongly influencing values, attitudes, self-concept, and buying behavior. a. Reference groups b. Opinion leaders c. Family d. Brand communities

C

High-end men's and women's retail clothing stores like Saks Fifth Avenue, Neiman Marcus or Nordstrom are more likely to appeal to consumers' needs. a. Psychological b. Functional c. Safety d. Situational e. Postpurchase

A

The fundamental goal of marketers when creating goods, services, or combinations of both is to a. create value b. stimulate short term sales c. defeat the competition d. serve all customers e. operate according to government regulations

A

Based on our working/functional definition discussed in class, which of the following correctly describes marketing? a. Marketing is anticipating needs of all customers and satisfying needs through the marketing mix to create an immediate exchange and a long-term relationship. b. Marketing is anticipating needs of targeted customers and satisfying needs through the marketing mix to create an immediate exchange and a long-term relationship. c. Marketing is anticipating needs of targeted customers and satisfying needs through the 4 C's to create an immediate exchange and a long-term relationship. d. Marketing is anticipating needs of targeted customers and satisfying needs through the marketing mix to create an immediate exchange, not a long-term relationship. e. Marketing cannot be defined by any of the above descriptions.

B

Lindsay has a friend who manufactures college themed apparel and gifts, and Lindsay has agreed to sell a certain amount of the UGA goods to fans. She has looked into the competition and has determined fiar pricing for all of these goods. She also has a full plan for advertising the goods to her potential customers. Lindsay still needs to work on which element of her marketing mix? a. Product b. Place c. Promotion d. Price e. Planning

B

Near the end of the model year, Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the __________ era. a. production-oriented b. sales-oriented c. market-oriented d. retailing-oriented

B

Yellow Trucking provides transportation services for Dan's Delicious Donuts so that Dan's stores always have fresh stock. Yellow Trucking is an example of a: a. Cultural cohort b. Corporate partner c. Cartel d. Cooperative e. Customer

B

As Microsoft states that they are now in tune with what customers want, that thy have respond to the feedback that customers hav offered, and that they utilize this customer feedback in the redevelopment of products and services, Microsoft is exhibiting: a. The production orientation b. Th sales orientation c. The value-based marketing orientation d. The consumer behavior

C

"Why create a perceptual map?" asked David. Andras, the senior marketing manager, gave him four reasons. Which of the following is NOT a valid reason? a. "It's a quick way for senior managers to see not only our product but each of our competitors, all at once." b. "It's a way to demonstrate the dimensions that our customers think are important." c. "It shows where we aren't--and where our competitors aren't--in our customers' and prospects' minds." d. "It's a way to show the position of the company throughout the product's life cycle."

D

Which orientation places the customer at the center of the universe such that all marketing mix decisions are based on what customers want a. digital orientation b. sales orientation c. new age orientation d. marketing orientation e. production orientation

D

One core aspect of successful marketing is determining how to meet the correct balance of needs that best appeals to the firm's target markets... a. Safety and situational b. Psychological and physiological c. Postpurchase and prepurchase d. Functional and social e. Functional and psychological

E

Some E-commerce platforms allow consumers to shop while getting opinions from online friends. Which of the influences on the consumer buying process does this represent? a. Situational b. Perception c. Motives d. Psychological e. Social

E

When Kelly began searching for a new car to replace her old, rusty one, she probably relied on _____________________ sources of information. a. Interpersonal and sensual b. Compensatory and noncompensatory c. Ritual and spiritual d. Psychological and functional e. Internal and external

E

Which of the following purchases is a consumer most likely to consider a high involvement purchase? a. paper towels b. a t-shirt to replace one that has been torn c. a frozen pizza d. bottled water e. a suit for an interview

E

Which of the following segmentation methods is being used when Skittles offers special wedding-themed packaging for customized Skittles (imprinted with the names of the bride and groom)? a. Benefit segmentation b. Loyalty segmentation c. Lifestyle segmentation d. Geographic segmentation e. Occasion segmentation

E