MKT exam questions

___________ are complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals.

Distribution channels

according the Maslow's heirarchy of needs, which of the following is LEAST pressing need?

Self-actualization needs

Generations- Among the generational groups in the US population, this generation is the wealthiest in US history.

baby boomers

Which of the following terms refers to the specific mix of human traits that may be attributed to a particular brand?

brand personality

A ____________ is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.

channel level

A ________ documents an organizations purpose what it wants to accomplish in the larger environment.

mission statement

Sam and Frodo could have drawn attention to their service in several ways by using effective integrated marketing communication. Which of the following is NOT a part if an IMC strategy?

strategic planning

Which of the following is NOT an example of product-orientated mission statements?

We sell memorable expeirences

Needs include all of the following EXCEPT

the newest iPhone

a comapanys total mareting communicaiton mix consists of a specie blend of advertising, sales promotion, public relations, personal selling, and direct marketing tools that the company uses to communicate its customer value and build customer relationships. which of the following terms best describes this set of communication tools?

the promotion mix

According to the five step model of the market process, a company should ________ before designing a customer-driven strategy.

understand the marketplace and customers needs and wants

Marketing is defined as a social and managerial process by which individuals an organizations obtain what they need and want through _________.

value creation and exchange

A ________ is made up of the company, suppliers, distributors, and customers who partner to improve the performance of the entire system.

value delivery network

Costs that change with the level of production are referred to as _________.

variable costs

Which of the following helps companies in setting sales force size?

workload approach

this type of segmentation divides the market into segments based on variables such as age, life cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Demographics

A women's apparel manufacturer in California is recently acquired a Houston-based company that manufactures office furniture. This is an example of ________.

Diversification

Big Bird Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of _______

Diversification

Which of the following groups influence the company's ability to obtain funds?

Financial publics

Market offering includes everything from pure tangible goods to pure services, as well as combinations of goods and serves. Which of the following is NOT a product or service?

Free concert

Which of the following companies uses a direct marketing channel?

Holly Wreaths, a store that sells Christmas ornaments to customers via online click-to-order catalogs

Individual Differences in Innovativeness are categorized as follows:

Innovators, early adopters, early mainstream, late mainstream, lagging adopters

_________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

Intermediaries

Which of the following statements is true of the production concept?

It leads to companies focusing too narrowly own their own operations.

The art and science of choosing target markets and building profitable relationships with them is called ________.

Market management

Dividing the market into various groups of customers that a company may serve is called __________.

Market segmentation

What is the best description of Marketing?

Marketing is the process by which companies create value for customers and build strong customer relationships in order ti capture value from its customers in return.

Which of the following is a major tool used by PR professionals?

News

____________ are industrial products.

Office supplies

marketing stimuli consist if the four P's. Which of the following is not? Price Product Place Packaging Promotion

Packaging

Which of the following is true with regard to personal selling?

Personal selling entails personal presentations by a forms sales force for the purpose of making sales and building customer relationships.

_________ help companies stock and move goods from their points of origin to their destination.

Physical distribution firms.

Rhoda invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies ______________.

Place marketing

__________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Positioning

Which of the following is true of vertical marketing systems?

Producers, wholesalers, and retailers act as a unifies system

What are the 5 value propositions?

Production concept, Product concept, Selling concept, marketing concept, societal marketing

_________ are low share business units in high growth markets that require a lot of cash to hold their share.

Question Marks

Which is NOT part f the company environment that influences marketing decisions?

Retailers

The following analysis is used for understanding the strengths, weaknesses, opportunities, and threats.

SWOT

________is defined as analyzing, planning, implementing, and controlling sales force activities

Sales force management

Which of the following is true about the sales force of a company?

Salespeople represent customers to the company and manage the buyer-seller relationship

People tend to interpret new information in a way that will support what they already believe. This is called ________.

Selective distortion

Which of the following is true with regard to services?

Services are a form of products that consists of activities, benefits, or satisfactions offered for sales.

__________ marketing is more suited for uniform products, such as grapefruits or steel

Undifferentiated

__________ are human needs that are shaped by culture and individual personality.

Wants

Which of the following is NOT a market orientated business Definition?

We make high quality consumer food products

Which of the following question is NOT of major concern regarding marketing channels?

What impact do marketing channels have on the profitability o the firm and its partners?

Which of the following is an example of an indirect marketing channel?

Wine and Dine, which sells its picnic baskets to select novelty stores across the country.

Which of the following is an example of a pure tangible good?

a bag of potato chips

In a(n) __________, leadership is assumed not through common ownership or contractual ties but through the size and power if one or a few dominant channel members.

administered VMS

Incom. Corp. recently rolled out its Atlas hatchback. Atlas combines the attractiveness of a luxury vehicle with agility of a sports car. Incom. Corp. is confident that Atlas will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here?

benefit segmentation

_________ are low growth, high share businesses/products that need less investments to hold their market share.

cash cows

Which f the following processes does value-based pricing reverse?

cost-based pricing

Lawyers, accountants, and other professional typically price by adding a standard markup for profit, This exemplifies __________.

cost-plus pricing

Effective __________ pricing involves understanding how much value consumers place on the benefits they receive form the product and setting a price that captures that value.

customer -orientated

The marketing team of 7 Star Inc., a company manufacturing smartphones is currently studying size, density, location, age, and occupation if its target market. Which of the following environments is being studied in this scenario?

demographic environment

Which if the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers?

downstream partners

Market targeting is __________.

evaluating segment attractiveness and deciding how many and which segment(s) to serve.

all of the following are problems associated with the poor selection of salespeople EXCEPT ___________.

fewer training expenses

Sales promotions are targeted towards members of the sales force, business customers, retailers, wholesalers, and ________.

final buyers

Which of the following exemplifies a service?

hair salon

Bluefin canned tuna has higher sales than its unbranded rival, even though the unbranded tuna costs 45 cents less per can than bluefin. Bluefin tuna most likely has __________.

high brand quite

Conflicts that occur among firms at the same level the marketing channeling known as __________ conflict.

horizontal

Robin works in a manufacturing company in Ohio. She sells products and handles customer request via the company's online live chat feature. In her company, Robin is most likely part of the _______________.

inside sales force

Which groups include neighborhood residents and community organizations?

local publics

Samwise has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Samwise has been directed to study ________ of the organization.

macroenvironment

A(n) ________ is the set of actual an potential buyers of a product or service.

market

The manager of Rusty chucks, an America retail chain, are currently reviewing new demographic markets to sell the firms current product. This is an example of __________.

market development

A __________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

market offering

Making more sales to current customers without changing the firms products is known as ____________.

market penetration

When marketers at Fair and Leigh Inc. select thee millennials,a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they sew engaging in _________.

market targeting

__________ involves planning, implementing, and controlling the physical flow of goods, services and related information from points of origin to points of consumption to meet customer requirements at a profit.

marketing logistic

Disney Mandalorian and the Wall Street journal are both examples of ______________- specific media within each general media type.

media vehicles

Phil has been directed to study the forces close to company that affects its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Phil has been directed to study the ________ of the company.

microenvironment

Generations- Which generational group is most comfortable with digital technology and embraces that technology?

millennials

A value marketer is most likely to ________.

offer consumers a balanced combination of product quality at a fair price.

Which of the following is an indirect business marketing channel?

producer to business distributor to business channel

Railroads were once operated based on the thinking that users wanted trains that would offer the most quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the __________ concept.

product

The __________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.

product

Consumer products refer to ___________.

products and services bought by final consumers for personal consumption.

Kiwi, a very popular retailer of chic women's clothing, segments its marketing according to consumer lifestyles. Kiwi most likely uses __________ segmentation for segmenting its market.

psychographic

which of the following promotion tools involves building up a positive corporate image and handling unfavorable stories and events?

public realtions

Which of the following involves computerized, digital sales force operations that let salespeople work more effectively anytime, anywhere?

sales force automation system

________ are the form if product that consists of activities, benefits, or satisfactions offered for sale rear new essentially intangible and do not result in the ownership of anything.

services

Producing a product or service and making it available to buyers requires building relationships not only with customers but also with key suppliers in the company.

supply chain

A __________ consists of a set of buyers who share common needs or characteristics that the company y decides to serve.

target market

all off the following are disadvantages if team selling EXCEPT ______________.

team selling reduced the overall efficiency of the selling process

If a consumer purchases a new flat screen "smart" TV, what id the augmented product involved?

tech support and warranty

This is the step in the value creation process where companies try to understand customer demands

step 3

A(n) _________ is a persons relatively consistent evaluations, feelings, and tendencies towards an object or idea.

Attitude

The following best describe the buyers readiness stages and their order,

Awareness, Knowledge, Liking, Preference, Conviction, Purchase

________________ segmentation divided buyers into segments based in their knowledge, attitudes, uses, or responses concerning a product.

Behavioral

_________ markets buy goods and services for further processing.

Business

________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Convenience products

Which of the following is true about the product sales force structure?

In a product sales force structure, salespersons specialize in only a particular product line as the company produces numerous and complex products.

_________ are a type of SBU that often requires heavy investment to finance their rapid growth.

Stars

______ is the process of developing and maintaining a crutial fit between the organizations goals and capabilities and its changing marketing opportunities

Strategic planning

The marketing mix is comprised of a set of tools known as the:

The 4 P's

Which of the following is true of changes in the organization of distribution channels?

The growth if the interest threatens many brick-and-mortar companies with disintermediation.

At is most basic form, a market channel consists of the producers and the _________.

consumer