Question: Marketing Management Test Exam
1. If you ask the average person, "What is marketing?" you might hear something like, "Marketers make people buy stuff they don't need and can't afford."
a. True
b. False
2. John just purchased a new Honda Civic from the local Honda dealership. Even though John was happy and Honda made a profit, this was not a symbiotic relationship.
a. True
b. False
3. Marketers try to figure out what __________ want and then they try to figure out how to provide it and make money doing so.
a. business owners
b. customers
c. advertisers
d. companies
4. Marketers help/work with all of the following EXCEPT:
a. athletes
b. hotels
c. department stores
d. pets
5. Marketing is thought to be evidence of an evolved ____.
a. society
b. business
c. customer
d. market
6. Advertising's goal is to enhance _____.
a. brand image
b. profit
c. marketing
d. purchases
7. What is one of the largest factors stressing out marketers these days?
a. the pressure increase stock price
b. the pressure to prove they are valuable
c. the pressure to show results
d. the pressure to produce more money than R&D
8. A company's marketing executives should assess the _____ in terms of a general analysis of a business problem or opportunity the company is facing.
a. business situation
b. 5Cs
c. STP
d. ARA
9. Fundamentally, the best marketers put themselves in the place of their _____.
a. company
b. customers
c. competitors
d. Friends
10. The pre-purchase phase includes identifying the need or want, searching possible solutions, and building a consideration set.
a. True
b. False
11. During the ____ phase of the purchase process, the customer identifies that something is lacking.
a. purchase
b. pre-purchase
c. post purchase
d. preliminary
12. During the purchase phase for a new computer, Larry creates a _____ that includes Apple's Macbook Pro and Microsoft's Windows 7, but does not include Linux systems.
a. mindset
b. purchase set
c. consideration set
d. list
13. Which phase of the purchase process generates word of mouth?
a. customer evaluation
b. pre-purchase
c. purchase
d. post-purchase
14. Whether the buyer is a consumer or a business, the buying process is ____.
a. consistent
b. inconsistent
c. exhausting
d. simple
15. A ____ item is something that is purchased without much thought before the purchase.
a. quick
b. specialty
c. convenience
d. shopping
16. Company ABC is interested in better understanding how different groups of customers feel about its product. In order to do this, Company ABC will need to _____.
a. position its product in the market
b. segment the market
c. mass market
d. target market
17. Considering a continuum from "mass marketing" to "one-to-one marketing," market segmentation is ________.
a. very close to "mass marketing"
b. very close to "one-to-one marketing"
c. in the middle
d. on a different continuum
18. As segments increase in size, it becomes _______ to satisfy them with the same
19. _______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ.
a. One-to-one marketing
b. Gender marketing
c. Group marketing
d. Mass marketing
20. __________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person's idiosyncratic
desires.
a. Geographic marketing
b. One-to-one marketing
c. Mass marketing
d. Psychological marketing
21. The contrast between mass marketing and one-to-one marketing illustrates that segments become more _______ as they increase in size.
a. heterogeneous
b. favorable
c. homogeneous
d. unfavorable
22. There are two perspectives in assessing the attractiveness of each segment in terms of its potential for our targeting, and it is extremely important to consider only one of these.
a. True
b. False
23. The idea of targeting is merely one of __________.
a. surveying
b. assessing
c. analysis
d. selection
24. Which of the following questions characterizes targeting?
a. How can we identify segments?
b. Why should we segment?
c. Which segments do we want to be our customers?
d. Which segment is the biggest?
25. Company ABC operates a nail salon that specializes in artificial nails. It has two primary ______, women who get their nails done infrequently (i.e., once or twice per year), and women who continuously wear fake nails.
a. segments
b. positionings
c. levels of awareness
d. market sizes
26. Marketers try to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable.
a. abilities to deliver
b. opportunities
c. financial resources
d. targets
27. Which of the following positioning combinations makes the most sense?
a. low price, low quality, exclusive availability, heavy promotions
b. high price, low quality, exclusive availability, heavy promotions
c. low price, high quality, exclusive availability, light promotions
d. low price, low quality, widely available, heavy promotions
28. Which of the following is NOT one of three basic corporate strategies for creating value and achieving market stature?
a. operational excellence
b. product leadership
c. quality placement
d. customer intimacy
29. Operational excellence refers to companies that ________.
a. are good at production, delivery, price, and convenience
b. pride themselves on quality and innovation
c. are willing to tailor their products to particular customer needs
d. are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value
30. Product leadership refers to companies that ______.
a. are good at production and delivery, and price and convenience
b. are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value
c. pride themselves on quality and innovation
d. are willing to tailor their products to particular customer needs
31. Customer intimacy refers to companies that ______.
a. pride themselves on quality and innovation
b. are willing to tailor their products to particular customer needs
c. target and position themselves high in the market
d. are good at production and delivery, and price and convenience
32. Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might their strategies differ?
a. They don't, their strategies would be the same.
b. Marketer 1 has a tangible product, white marketer 2 has an intangible product.
c. Marketer 1 would focus more on price than marketer 2.
d. Marketer 2 would focus more on promotion than marketer 1.
33. An example of a tangible purchase is _______.
a. consulting advice
b. the symphony
c. financial services
d. clothing
34. Which of the following is an example of "experience marketing"?
a. Starbucks
b. Cirque du Soleil
c. financial services
d. clothing
35. Some brands are closely associated with colors.
a. True
b. False
36. Which is not a quality associated with the brand name under the company's control?
a. product shape
b. customer feedback
c. packaging
d. logo
37. Companies build associations to their brands through _____.
a. classical conditioning
b. operant conditioning
c. learning
d. behavioral studies
38. Which of the following brand names lacks an inherent meaning?
a. Coca-Cola
b. Nike
c. Trump Towers
d. Geek Squad
39. Which is not true about firms and brands named after the founder?
a. They tend to have no inherent meaning.
b. They show little creativity in marketing.
c. Customers can easily identify the name and products.
d. They serve primarily as an ego trip for the founders.
40. ABC Company is entering a new international market and has decided to enter the market under a different brand name. The selected brand name should not ______.
a. engage the customer verbally
b. bring certain connotations to mind
c. engage the customer sensually
d. disregard cultural meanings
41. Companies who survive for decades need to _____ their logos.
a. colorize
b. keep
c. adapt
d. simplify
42. Change is not fun.
a. True
b. False
43. The process of developing new products depends first on a company's __________.
a. bottom line
b. size
c. location
d. culture
44. A _________ approach is found frequently among companies with strong engineering orientations, pharmaceutical and biomedical firms, financial services, and many high-technology companies.
a. bottom-up
b. top-down
c. upward
d. downward
45. Top down is also called ________ because the idea comes from within the company, and then feedback from the outside is sought later in the process.
a. inside out
b. outside in
c. long term
d. short term
46. The opposite of a top-down approach is usually called ___________.
a. outside-in
b. inside-out
c. co-creation
d. bottom-up
47. The four P's of marketing are product, price, place, promotion, and principles.
a. TRUE
b. FALSE
48. A product can be a good or a service
a. TRUE
b. FALSE
49. The four P's of marketing do not include _____________.
a. Promotion
b. Production
c. Place
d. Product
50. The four P's of marketing do include __________.
a. pickles
b. peppers
c. pottery
d. products