marketing exam quizzes

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company. A) macroenvironment B) microenvironment C) technological environment D) demographic environment E) political environment

B- microenviroment

Both market penetration and market development strategies primarily involve ________. A. selling the company's current products B. modifying the company's product line C. selling in new as well as existing markets D. developing new products E. leaving the current market

a- selling the companys current products

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new product development process before P&G could. A) commercialization B) co-marketing C) idea generation D) idea screening E) simulation

a- commercialization

Mary Adams is helping her company develop a marketing program for a new product line. The program is designed to appeal most to less materialistic consumer groups who are likely to prize experience, not acquisition. The marketing program is most likely designed to appeal to which of the following demographic groups? A) Generation X B) Millennials C) Echo Boomers D) Silent Generation E) Lost Generation

a- generation x

Which of the following is a valid source of secondary data? A) personal letters and correspondence B) Internet search engines C) ethnographic research D) direct surveys E) interviews

a- personal letters and correspondence

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively. They came up with an idea for a pair of blurry goggles. They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated. They developed a crude pair of blurry goggles to show prospective customers. This crude pair of goggles is known as a ________. A) prototype B) concept test C) product concept D) product image E) product idea

a- prototype

1)Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________. A) new product development B) acquisition C) joint venture D) licensing contract E) divestment

b- acquisition

The four Ps model has been challenged because it omits or underemphasizes important activities such as services. It's also been criticized for taking a seller's, rather than a buyer's, viewpoint. The more recent four As framework complements the traditional model and includes ________. A.adaptability, affordability, availability, and awareness B.adaptability, affordability, accessibility, and awareness C.acceptability, affordability, accessibility, and awareness D.acceptability, affordability, accessibility, and aptitude E.adaptability, affordability, availability, and aptitude

b- adaptability, affordability, accessibility, and awareness

1)Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________. A) new product development B) acquisition C) joint venture D) licensing contract E) divestment

b- aquisition

Which of the following best describes positioning? A.differentiating a market offering to create superior customer value B.arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products C.identifying consumer needs and creating a product to meet those needs D.evaluating each market segment's attractiveness and selecting one or more segments to enter E.dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

b- arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products

Which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink? A) internal research B) descriptive research C) causal research D) exploratory research E) demographic research

b- descriptive research

Which of the following is NOT a method of gathering good marketing intelligence? A) sending out teams of trained observers to mingle with customers B) interviewing competitors' employees to learn as much "inside information" as possible C) setting up digital centers that monitor brand-related online consumer and marketplace activity D) purchasing merchandise from competing sites to analyze and compare their assortment, speed, and service quality E) searching specific competitor names, events, or trends to see what comes up

b- interviewing competitors employees to learn as much inside information as possible

Ferrari sells only 2,200 of its very high-performance cars in North America each year at very high prices. The company is appealing to a specific ________. A.value chain B.market segment C.market position D.business portfolio E.value delivery network

b- market segment

________ is the product life cycle period when sales growth slows because the product has achieved acceptance. Profits level off because marketing costs increase in the face of competition. A) Decline B) Maturity C) Product development D) Introduction E) Growth

b- maturity

Which of the following statements characterizes the introduction stage of the Product Life Cycle? A) There are increased marketing outlays. B) Profits are nonexistent. C) The company incurs minimal expenses. D) The product achieves acceptance by most potential buyers. E) Promotional expenditures are zero.

b- profits are nonexistent

Sparex Inc. is a manufacturer of metal bolts that are used by Boilex Inc. to manufacture heavy machineries. In this instance, Sparex acts as a ________. A) financial intermediary B) supplier C) retailer D) customer E) local public

b- supplier

The marketing concept suggests that the company strategy should revolve around ________ and building profitable relationships with important consumer groups. A. cutting costs B. identifying the firm's weaknesses C. creating customer value D. generating efficiencies E. developing new products

c- creating customer value

Which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new product innovation process? A) brainstorming B) idea screening C) crowdsourcing D) outsourcing E) concept testing

c- crowdsourcing

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________. A) viral marketing B) survey research C) ethnographic research D) experimental research E) niche marketing

c- ethnographic research

Primary data consist of ________. A) data that does not age B) data obtained from the public domain C) information collected for the specific purpose at hand D) information that already exists somewhere, having been collected for another purpose E) information that is the least expensive and the easiest to obtain

c- information collected for the specific purpose at hand

Marketers can group people in a number of ways, including by birth date. However, the following combination of groups has proven to be more effective: A) income, lifestyle, life stage B) profession, common values they seek in products they buy, lifestyle C) lifestyle, life stage, common values they seek in products they buy D) place of residence, life stage, lifestyle E) race or nationality, lifestyle, common values they seek in products they buy

c- lifestyle, life stage, common values they seek in products they buy

Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a ________. A) licensor B) supplier C) marketing intermediary D) local public E) general public

c- marketing intermediary

Which of the following is true with regard to marketing research? A) The marketing research process depends primarily on sophisticated internal databases. B) The marketing research process requires assessing macroeconomic forces. C) Marketing research gives marketers insights into customer motivations. D) Marketing research eliminates the need for a SWOT analysis. E) Marketing research is a simple two-step process.

c- marketing research gives marketers insights into customer motivations

unique knowledge or understanding of a consumer group that can be leveraged eaged to gain advantage

consumer insights

An MIS is used to ________. A) generate product interest B) develop marketing plans C) identify demographic trends D) assess information needs E) test hypotheses about cause-and-effect relationships

d- assess information needs

A consumer organization in Ohio has challenged the marketing decision of a local firm alleging it to be against the larger social interest. In this instance, the firm is challenged by a(n) ________ public. A) internal B) general C) government D) citizen-action E) media

d- citizen action

Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to a ________ market. A) business B) reseller C) government D) consumer E) wholesale

d- consumer

Starbucks is experimenting with stand-alone boutique Princi Bakery and Café shops, taking the company beyond coffee and snack shops. This is an example of ________. A. market penetration B. market development C. downsizing D. diversification E. product development

d- diversification

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage. A) business analysis B) idea generation C) concept testing D) idea screening E) concept development

d- idea screening

Which of the following generational groups is most comfortable with digital technology and embraces that technology? A) Generation X B) Millennials C) Baby Boomers D) Silent Generation E) Lost Generation

d- millennials

A retailer with a value proposition is most likely to ________. A) offer consumers superior quality of goods and services at a very high price B) offer consumers only those products that are associated with status and prestige C) offer consumers low quality goods and services at very low prices D) offer consumers a balanced combination of product quality at a fair price E) deny discounts to consumers to increase profits

d- offer consumers a balanced combination of product quality at a fair price

Which of the following refers to the course that a product's sales and profits take over its lifetime? A) total product process B) service life C) product mix D) product life cycle E) marketing mix

d- product life cycle

Which of the following refers to the course that a product's sales and profits take over its lifetime? A) total product process B) service life C) product mix D) product life cycle E) marketing mix

d- product life style

When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix. A. people B. price C. product D. promotion E. place

d- promotion

Traxx is a newly emerging shoe manufacturing company. After extensive market research, Traxx divides its market into professional athletes, "hobbyists" or amateur players, and people who wear shoes as part of their casual attire. Each category has its own needs, traits, and marketing goals. In this scenario, Traxx has engaged in market ________. A. development B. positioning C. diversification D. segmentation E. penetration

d- segmentation

A good marketing information system balances the information users ________ to have against what they ________ and what is ________ to offer. A) request; want; affordable B) demand; should request; time-efficient C) want; are unaware of; the newest technology D) would like; need; feasible E) don't need; can afford; available

d- would like, need, feasible

a factor or circumstance that causes a brand or product to be preferred or have superiority over others

differentiation

Challenges of managing big data include ________. A) determining what information to request B) investing in appropriate technology C) hiring enough software engineers D) properly routing the information after gathering it E) accessing and sifting through so much data

e- accessing and sifting through so much data

1)Brad works with a reputable retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumers' behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ________ team. A) product development B) strategy implementation C) human resource D) customer relationship management E) customer insights

e- consumer insights

What is included in the first part of a marketing strategy statement? A) distribution strategy B) product longevity C) long-run sales goals D) promotional mixes E) target market description

e- target market description

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing? A)when the new product requires a major investment B) when management lacks confidence in the new product C) when management lacks confidence in the marketing strategy D) when the product has no substitutes and is new in its category E) when the costs of developing and introducing the product are low

e- when the costs of developing and introducing the product are low

directing products or offering toward a certain customer group sometimes to the exclusion of others

segmentation