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Marketing I - Chapter 3 & 4
Test Description: Review for chapters 3 & 4 test
Instructions: Answer all questions to get your test result.
1) Where should an organization start when planning a marketing schedule?
A
Utility
B
Resources
C
Objectives
D
Technology
2) Objectives or goals are derived from what?
A
Tactical Plans
B
Corporate strategy
C
Competitive strategy
D
Mission statement
3) If an organization attempts to develop a long-term, cost effective link with individual customers for mutual benefit, it is referred to as what?
A
Mutuality marketing
B
Target marketing
C
Relative marketing
D
Relationship marketing
4) How much does it cost to keep a current customer, compared to getting a new customer?
A
five times as much
B
twice as much
C
ten times as much
D
one-half as much
5) When you start planning, what essential purpose makes the company different from others?
A
Objectives
B
Opportunity
C
Strategy
D
Mission
6) If the organization has objectives that will have a major impact for five or more years, they are called what?
A
Tactical plans
B
Strategic plans
C
Marketing plans
D
Economic plans
7) Consumers are better served as a result of ___.
A
Concentrated marketing
B
Undifferentiated marketing
C
Differentiated marketing
D
Strategic marketing
8) The best market for an undifferentiated marketing strategy would be...
A
Automobiles
B
Salt
C
Trucks
D
Soda
9) If you anticipate the future and choose a course of action for achieving the objective, it is known as...
A
Planning
B
Managing
C
Speculating
D
Researching
10) If your company decides to focus on a smaller target market instead of trying to sell its products to the entire marketing, it is called...
A
Undifferentiated marking
B
Differentiated marketing
C
Tactical marketing
D
Concentrated marketing
*select an answer for all questions
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