Marketing Exam !
baby boomers were born between the years 1946 and ... a. 1954 b. 1964 c. 1970 d. 1974 e. 1980
1964
Manages markets to bring about profitable exchange relationships by creating value and satisfying needs and wants a. selling b. promoting c. marketing d. relationship marketing e. market segmentation
Relationship Marketing
At the heart of new market development is research and development. Which of the following countries leads the world in research and development spending? a. England b. Germany c. Sweden d. Japan e. United States
US
Today, marketing must be understood in terms of not just making a sale but also a. satisfying customers' needs b. understanding customers' value c. understanding customers' self-images d. advertising brilliantly e. successfully remaining on the market
advertising brilliantly
If baby boomers are predictors of where product and service demand will be, increased demands will most likely be evident in _______ in the coming years. a. University enrollment b. Beer and wine c. Anti-aging products d. The apparel industry e. The automobile industry
anti aging products
The fastest-growing ethnic minority in the United States are the _______. a. African Americans b. Asian Americans c. Hispanics d. Native Americans e. Arab Americans
asian Americans
Almost all major purchases result in ___________, or discomfort caused by postpurchase conflict. a. Opinion leaders b. Cognitive dissonance c. Purchase decisions d. Complex buying behavior e. Dissatisfaction
cognitive dissonance
Georgia is buying her first house. She has found two houses that she thinks she likes. She is highly involved in the purchase and perceives significant differences between these two houses. Georgia will likely undertake ______________. a. Postpurchase behavior b. Complex buying behavior c. Opinion leadership d. Dissonance e. Marketing myopia
complex buying behavior
Change in the _______ environment is most likely to reflect changes in education levels and diversity trends. a. Demographic b. Natural c. Economic d. Cultural e. Political
demographic
your advertising agency is currently researching the gender, education, location, age, and occupation of your target market. What is this environment called? a. Demographic b. psychographic c. VALS d. geographic e. product-use
demographic
The _______ environment consists of factors that affect consumer purchasing power and spending patterns. a. Social-cultural b. Political-legal c. Technological d. Economic e. Natural
economic
Because of increased _______, Americans will demand higher-quality products, books, magazines, travel, personal computers, and Internet services. a. Longevity b. Family size c. Education d. Social class awareness e. None of the above
education
the ... is usually considered the most important consumer buying influence in society. a. family b. social class c. opinion leader d. neighborhood e. reference group
family
Ernst Engel's laws generally have been supported by recent studies. He discovered that as family income rises, the percentage spent on ________ declines and the percentage spent on _______ remains about constant. a. Food; clothing b. Clothing; recreation/entertainment c. Food; transportation d. Food; housing e. Recreation/entertainment; retirement planning
food; housing
Who are the echo boomers? a. gen X b. gen Y c. gen Z d. baby boomers e. baby busters
gen Y
As marketing manager for Laser Industries, you should be aware that legislation affecting business around the world will continue to _______. a. Set price levels b. Increase c. Remain steady d. Decrease e. Threaten the American domestic economy
increase
... households are now growing faster than ... households a. traditional; nontraditional b. large; traditional; c.Nontraditional; smaller d. Nontraditional; traditional e. Male-dominant; female-dominant
large; traditional
mission statements should be.. a. market oriented b. employee oriented c. technology oriented d. growth oriented e. profit oriented
market oriented
at the corporate level, a company starts the strategic planning process by defining its overall purpose and ... a. mission b. values c. vision d. opinions e. strengths
mission
Internal or external stimuli begin the buyer decision process with this step. a. need recognition b. informative search c. evaluation of alternatives d. purchase decision e. separation of needs and wants
need recognition
Today which of the following types of organizations do NOT use marketing strategies: a. Small business b. minority-owned business c. not-for-profit orgs d. churches and governmental units e. none of the above
none of the above
Marketers must understand that a society's core beliefs and values have a high degree of _______. a. Persistence b. Flexibility c. Similarity d. Ethnocentrism e. Conformity
persistence
Marketers are aware of laws, government agencies, and pressure groups that affect various organizations and individuals in a given society. We call this the _______ environment. a. Socio-legal b. Legal-cultural c. Political/legal d. Legal-technological e. Economic
political/legal
which of the following is NOT one of the standard four Ps in the marketing mix? a. product b. promotion c. positioning d. price
positioning
Which of the four Ps describes the goods-and-services combination the company offers to the target market? a. Price b. Promotion c. Product d. Positioning
product
Yellow Freight and Jimmy's Warehouse help distribute the frozen foods your company sells. The two businesses are operating in which part of the marketing mix? a. Product b. Price c. Place d. Positioning e. Promotion
product
Business legislation has been created for three basic reasons; to protect companies from each other, to protect the interests of society, and to _______. a. Protect customers b. Regulate prices c. Increase world trade d. Regulate monopolies e. Promote social responsibility
protect customers
... are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. a. social classes b. purchase decisions c. perceptions d. attitudes e. lifestyles
social classes
this is a period of migratory movement. over the past two decades, the US population has shifted to the .... and ... a. east; south b. east; north c. south; west d. north; west e. farms; south
south; west
_______ are defined as smaller cultural groups of people with shared value systems based on common life experiences and situations. a. Alternative evaluations b. Cognitive dissonances c. Subcultures d. Motives e. Attitudes
subcultures
a buyer's decisions are influenced by personal characteristics such as all of the following except... a. the buyer's occupation b. the buyer's age c. the buyers life-cycle stage d. the buyer's economic situation e. the buyer's age at retirement
the buyer's age at retirement
Mark Levin is starting a new skateboard sales business and is researching the factors and forces outside the firm that affect his ability to build and maintain successful relationships with target customers. What is Mark researching? a. The marketing environment b. Strategic planning c. Target markets d. The marketing mix e. None of the above
the marketing environment
Wants become demands when.. a. marketers understand consumer needs b. they are backed by buying power c. they become less desired than needs d. the benefits from buying them equal the cost e. needs cannot be fulfilled
they are back by buying power
in the basic SWOT analysis the "T" stands for ... a. timing b. trust c. threats d. tomorrow e. tangible
threats
a person's attitude fits into a pattern, and to change one attitude may require difficult adjustments in many others. Thus, a company should (blank) try to fit its products into existing attitudes rather than attempt to change attitudes. a. usually b. not c. once in a while d. seldom e. never
usually
Rarely do marketers attempt to be all things to all customers. Rather, they want to serve selected customers that they can serve.. a. easily b. with superior customer service c. through retailers d. well and profitability e. efficiently
with superior customer service
