Marketing Midterm Practice Questions

B

A firm needs to position for competitive advantage. When compared to overseas universities, UWI should seek to position itself to the Eastern Caribbean A) Image B) Channel/Location C) People D) Resources

A

A market is: A) The actual and potential buyers of a good or service B) The buyers of a good or service C) The opportunity to reach consumers D) The potential buyers of a good or service

C

A marketing information system (MIS) consists of people and procedures to assess information needs, ________, and help decision makers analyze and use the information. A) experiment to develop information B) test market the information C) develop the needed information D) critique the needed information

C

ABC Company has decided to use mail questionnaires to collect data. Management recognizes this method has all the following advantages EXPECT which one? A) low cost per respondent B) more honest answers may be given C) has an average response rate D) has no interviews to bias respondents' answers

D

Barney Hopkins has compiles a list of things that make segments more attractive. Which of the following items should NOT be on the list? A) relative power of buyers B) lack of powerful suppliers to control prices C) few substitute products D) competition with superior resources

C

Concerns about raw materials inputs and the disposal of waste can be placed under which group of macro-environmental factors? A) Legal/Poliitical B) Demographic C) Natural D) Social

D

Dell allows consumers to design their own computer on their web site. Which market segmentation strategy would this be categorised under? A) mass marketing B) segment marketing C) product variety marketing D) mirco marketing/ complete segmentation

A

Disney World offers package deals for families, whereas Bausch Gardens theme park does not. Which value proposition should Disney Land use? A) More for the same B) Less for much less C) more for more D) the same for less

C

Herbal Essence has found that there are more persons who shampoo less than once per month than it was originally believed. In considering consumer behaviour, Herbal Essence is applying which type of segmentation (base)? A) geographic B) demographic C) behavioural D) psychographic

B

If XFactor, the successful maker of fitness equipment for men, considered introducing a line of fitness equipment for women, the company would be considering __________ . A) Product Development B) Market Development C) Diversification D) Market Penetration

B

In the Boston Consulting Group approach, which type of business or product line requires the least amount of promotion and produces substantial profits? A) Stars B) Cash Cows C) Questiion Marks D)Dogs

B

In the strategic planning process, the SWOT analysis should come. A) not be done at all B) come after the PEST analysis C) come before the PEST analysis D) none of the above

A

In which of the following product categories would the production concept be most successful? A) toilet paper B) cars C) houses D) computers

B

Information collected from online database on the Internet is an example of ________ data. A) primary B) secondary C) observational D) experimental

C

Jiffy positions on the fact that their peanut butter contains more peanuts than any other brand. What is Jiffy positioning strategy based on? A) Product benefits B) Country of Orgin C) Product Attributes D) Product class

C

Many firms make an effort to identify smaller, better defined target groups by using __________ . A) user rates B) loyalty segmentation C) multiple segmentation bases D) positioning

B

Marketers of automobiles, financial services and travel are most likely to use which of the following types of segmentation? A) gender B) income C) occasion D) usage rate

B

Qualitative Research: A) uses large numbers of respondents B) uses a small number of respondents C) includes surveys D) includes experiments

B

Relationship marketing is an important concept because: A) It guarantees customer satisfaction B) It is necessary for profitability to be accomplished C) Consumers are relationship oriented D) It is necessary to generate sales

C

Selecting one small segment to target is a(n) _____________ market targeting strategy. A) Undifferentiated B) Differentiated C) Concentrated D) Comprehensive

C

Sunshine, the maker of cereals is running a promotion this week where you get their new Fosted Flakes brand is being given as a free gift when another box of Sunshine cereal is purchased. This is which type of market growth option? A) Market Development B) Product Development C) Market Penetration D) Diversification

C

The Florida orange juice producers recognise that orange juice is nutritionally superior to many other beverages, and want to work together to promote sales. Therefore they should position on: A) Product Users B)Product Origin C) Product Class D) None of the Above

B

The first two marketing concepts to be practised in the history of marketing are: A) The Selling Concept and the Product Concept B) The Production Concept and the Product Concept C) The Selling Concept and the Marketing Concept D) The Societal Marketing Concept and the Selling Concept

C

The marketing strategy is: A) The marketing mix B) The target market C) A and B D) None of the above

B

The product concept is appropriate: A) when competitors are practising the marketing concept B) when consumers expect and like rapid technological change C) when consumers are extremely price conscious D) all of the above

D

The real value of a company's marketing research and information system lies in the ________ . A) amount of consumer related data it generates B) variety of contact methods it uses C) efficiency with which it completes studies D) quality of customer insights it provides

A

The set of marketing tools a firm uses to implement its marketing strategy is called the _________ . A) Marketing Mix B) Product Mix C) Promotion Mix D) TQM

A

Through talking to numerous competitors at a regional trade show, you leatn that most of them use the most popular base for segmenting markets. What is it? A) demographic B) lifestyle C) psychographic D) behavioural

A

Typically, developing a strong position within several market segments creates more total sales than ________ marketing across all segments. A) Undifferentiated B) Differentiated C) Niche D) Target

D

When the company has the resources to develop a winning market mix for a segment, the segment is said to be ___________ A) Measurable B) Profitable C) Substantial D) Actionable

A

When the size, purchasing power, and profiles of a market segment can be determined,it possesses the requirement of being ________ . A) measurable B) accessible C) substantial D) actionable

A

Which method could a marketing researcher use to obtain information that people are unwilling or unable to provide? A) observational research B) focus groups C) personal interviews D) Internet surveys

C

Which of the following growth strategies/options is the most risky for the company? A) Product Development B) Market Development C) Diversification D) Market Penetration

D

Which of the following is TRUE about strategic planning and marketing planning? A)They are often guided by the same information B) Strategic planning comes before marketing planning C) Strategic planning always involves the development of a company mission D) A and B

B

Which of the following is a useful tool for comparing the profitability of two industries? A) the BCG matrix B) Porter's Five Forces Model C) the product/market expansion grid, also known as the Ansoff Matrix D) the value chain

A

Which of the following is not a force in the Porter's Five Forces Model? A) Competition B) The level of competitive rivalry C) The Bargaining Power of Buyers D) The Bargaining Power of Suppliers

B

Which of the following is not an element of the market microenvironment? _________ . A) surveys B) focus groups C) one-to-one interviews D) None of the above

A

Which of the following is not an element of the marketing microenvironment? __________ . A) a new law developed by the government B) financial publics' C) customers D) suppliers

A

Which of the following marketing concepts can most compromise the firm's ability to make profit because operational costs may be higher? A) The societal marketing concept B) The marketing concept C) The production concept D) None of the above

A

Which of the following marketing management orientations focuses primarily on cost reduction and availability? A) production concept B) product concept C) selling concept D) marketing concept

D

Which of the following survey administration methods is best at generating quick findings: A) Door to Door Interviews B) Mail Surveys C) Both A and B D) Telephone Interviews

C

Which of the following survey data collection method does not allow questons to be clarified for the respondent? A) telephone B) door-to-door C) internet and mail D) all of the above

B

Your marketing department is currently researching the personality types and lifestyles of your target market. Which environment is being researched? A) demographic B) psychographic C) economic D) geographic

C.

which of the following is most essential to any definition of marketing? A) the societal marketing concept B) the marketing mix C) customer satisfaction and value D) making a sale

C

which of the following is not one of the challenges which marketers face today? A) Not for Profit Marketing B) Ethical concerns C) Brand Loyalty D) The changing global economy