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