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Marketing Exam Review Part 4
Test Description: Final exam review
Instructions: Answer all questions to get your test result.
1) All of the following statements about marketing today are true except
A
all of these statements characterize marketing today.
B
marketing is usually thought of as a critical investment
C
marketing is generally handled as a problem-solving tool.
D
marketing has expanded in scope from a few activities to a variety of activities
2) All of the following are common reasons for business failure except
A
the business believes it knows what customers want
B
the business does not study the market
C
the business does not use any available marketing tools.
D
the business understands and uses the marketing concept.
3) With the marketing concept, planning begins by
A
developing a marketing mix.
B
identifying potential customers and their needs.
C
deciding on a marketing strategy.
D
developing a product.
4) Business deal with customer needs in a variety of ways. Which of the following is the most effective?
A
They try to understand how customers evaluate products and services to make decisions about what to purchase.
B
They ignore their customers' needs because they don't consider them to be important
C
They believe their customers don't understand their own needs.
D
They try to influence customer needs with well-designed products and effective pricing and promotion.
5) Probably the most difficult marketing decision to understand and plan is
A
distribution
B
promotion
C
product development
D
price
6) The first step in the consumer decision-making process is to
A
identify alternatives
B
evaluate choices
C
make a decision
D
recognize a need
7) Marketers use research techniques to
A
identify customers
B
analyze competitors
C
all of these choice are correct
D
determine which marketing strategies work the best
8) In which of these economic environments do companies find the marketing concept to be of the most value?
A
oligopoly
B
monopoly
C
pure competition
D
monopolistic competition
9) Which element of the marketing mix usually receives the most attention from producers and manufacturers?
A
promotion
B
price
C
distribution
D
product
10) Most final pricing decisions are made by
A
wholesalers
B
producers
C
distributors
D
retailers
11) Most businesses today
A
have a production empasis
B
believe customers will buy a product simply because it is available
C
recognize that different customers have different wants and needs
D
think that all customers basically want the same thing
12) Type of competition, economic regulations, and government regulations are all considered information about
A
the business environment.
B
the marketing mix.
C
consumers.
D
all of these choices are correct.
13) Effective marketing information
A
reduces the risk of decision making.
B
eliminates all business risk.
C
guarantees that a business will be successful.
D
is too costly for a small business to worry about.
14) What is the first step a business usually takes in the process of gathering marketing information?
A
Select the information sources that best meet the identified needs.
B
Enter the information into a marketing information system.
C
Identify the types of information needed.
D
Determine the available sources of each type of information
15) The most important performance measure for a company is
A
to compare actual performance with expected or planned performance.
B
to compare performance with that of similar businesses
C
to compare employee and customer perceptions of performance.
D
to compare current performance with past performance.
16) Which of the following is not an external information source for a business?
A
The US Census Bureau
B
Forbes magazine
C
the Dun and Bradstreet business database
D
an invoice recording the details of a recent sale made by the company
17) Which MkIS element answers the question, 'Which methods should be used to organized and study the information in order to make effective marketing decision?'
A
storage
B
decision making
C
analysis
D
output
18) The first step in implementing a marketing research study is to
A
define the problem.
B
develop a data-collection procedure.
C
analyze the situation.
D
develop an MkIS.
19) Which of the following is an example of a closed-ended question?
A
What are this product's most important features?
B
How does the durability of this product compare to other products you have used?
C
Rate this item on a scale of 1 to 10.
D
What did you like most about this product?
20) A carefully designed and controlled situation in which all important factors are the same except the one being studied is called
A
hypotheis
B
interview
C
survey
D
experiment.
*select an answer for all questions
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