Marketing Quiz questions
Approximately what percentage of civilian workers in the United States performs marketing activities?
25 to 33 percent
Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables?
Competition
What focuses on using information about customers to create marketing strategies that develop and sustain desirable customer relationships?
Customer relationship management
Which of the following statements about the marketing mix is incorrect?
Once a marketing mix has been created for a particular target market, it cannot be changed until a new strategic window opens.
A systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control describes which of the following marketing management activities?
Planning
____ competitors are those that compete in the same product class, but their products have different features, benefits, and prices.
Product
During which stage of the business cycle is unemployment low and total income relatively high?
Prosperity
Price discrimination is prohibited by the ____ Act.
Robinson Patman
Which of the following terms refers to consumers' propensity to buy?
Willingness to spend
The marketing concept is best defined as
a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
The term "____" describes measuring and evaluating a firm's quality in products and processes against industry leaders.
benchmarking
_________ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.
brand
Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.
buying behavior
According to the Boston Consulting Group, marketers may classify their products as all of the following except
cash contributors
The Boston Consulting Group classifies products that have a dominant market share but low prospects for growth and that generate more cash than is required to maintain market share as
cash cows
What is the most important factor in distinguishing disposable income from income?
consumer spending
____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.
corporate
Long-term relationships with profitable customers is the key objective of
customer relationship management
Deciding to add gel insoles to its running shoes would be a change in the ____ element of the marketing mix for Nike. a. Abercrombie & Fitch b. The Democratic Party c. Sony d. FedEx e. General Electric
d. FedEx
The marketing concept affects... a. few decisions in an organization. b. only marketing and finance. c. only production and marketing. d. just the marketing department. e. all organizational activities.
e. all organizational activities
____ refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges.
efficiency
Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets
ideas
To formulate a marketing strategy, one must
identify and analyze a target market and develop a marketing mix to satisfy individuals in that market.
The time lag between the performance of marketing activities and their results
limits the marketing manager's ability to measure the effectiveness of marketing activities.
When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a
market opportunity
Which of the following is the most specific and detailed type of business strategy?
marketing
When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies?
marketing concept
CyberCycle Inc., is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the
marketing plan
Safeway Food Stores is involved in identifying and analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that market to gain long-term competitive advantages. Based on this example, Safeway is creating a
marketing strategy
Making modifications to packaging or brand names involves the ____ component of the marketing mix.
product
Procter & Gamble, like many firms in the consumer packaged-goods industry, is organized by
product
As the Industrial Revolution came to the United States, most firms operated in a(n) ____ orientation.
production
According to the marketing concept, an organization should try to
provide products that satisfy customers' needs and allow the organization to achieve its goals.
In general, which of the following competitive structures is an organization least likely to operate?
pure competition
The most important component of customer relationship management is
relationships with customers
The FTC can issue a cease-and-desist order, which is an injunction to
stop doing whatever caused the complaint.
John Deere's strong name recognition and solid customer demand for its farm and garden equipment are two elements of the firm's
strengths
A competitive advantage that cannot be readily copied by the competition is referred to as a(n) ____ advantage.
sustainable
Marketing managers at Consolidated Equipment Corporation are involved in establishing marketing performance standards, evaluating performance, and reducing the differences between actual and desired performance. These marketing managers are engaged in
the marketing control process
Distribution, price, promotion, and product are all elements of
the marketing mix