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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
Resources
B
Technology
C
Objectives
D
Utility
2) Objectives or goals are derived from what?
A
Competitive strategy
B
Tactical Plans
C
Corporate 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
Relative marketing
C
Relationship marketing
D
Target marketing
4) How much does it cost to keep a current customer, compared to getting a new customer?
A
ten times as much
B
one-half as much
C
twice as much
D
five times as much
5) When you start planning, what essential purpose makes the company different from others?
A
Opportunity
B
Mission
C
Strategy
D
Objectives
6) If the organization has objectives that will have a major impact for five or more years, they are called what?
A
Strategic plans
B
Marketing plans
C
Tactical plans
D
Economic plans
7) Consumers are better served as a result of ___.
A
Strategic marketing
B
Differentiated marketing
C
Concentrated marketing
D
Undifferentiated marketing
8) The best market for an undifferentiated marketing strategy would be...
A
Soda
B
Automobiles
C
Trucks
D
Salt
9) If you anticipate the future and choose a course of action for achieving the objective, it is known as...
A
Managing
B
Speculating
C
Planning
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
Concentrated marketing
B
Tactical marketing
C
Differentiated marketing
D
Undifferentiated marking
*select an answer for all questions
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