Marketing Exam Review Part 4 Question Preview (ID: 42236)

Final Exam Review. TEACHERS: click here for quick copy question ID numbers.

Which of the following is an example of a closed-ended question?
a) What did you like most about this product?
b) Rate this item on a scale of 1 to 10.
c) What are this product's most important features?
d) How does the durability of this product compare to other products you have used?

The first step in implementing a marketing research study is to
a) develop a data-collection procedure.
b) analyze the situation.
c) define the problem.
d) develop an MkIS.

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

Which of the following is not an external information source for a business?
a) an invoice recording the details of a recent sale made by the company
b) the Dun and Bradstreet business database
c) The US Census Bureau
d) Forbes magazine

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.

Effective marketing information
a) reduces the risk of decision making.
b) guarantees that a business will be successful.
c) eliminates all business risk.
d) is too costly for a small business to worry about.

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) Determine the available sources of each type of information
d) Identify the types of information needed.

Type of competition, economic regulations, and government regulations are all considered information about
a) consumers.
b) the marketing mix.
c) the business environment.
d) all of these choices are correct.

Most final pricing decisions are made by
a) distributors
b) wholesalers
c) retailers
d) producers

Most businesses today
a) think that all customers basically want the same thing
b) recognize that different customers have different wants and needs
c) believe customers will buy a product simply because it is available
d) have a production empasis

Which element of the marketing mix usually receives the most attention from producers and manufacturers?
a) product
b) distribution
c) promotion
d) price

In which of these economic environments do companies find the marketing concept to be of the most value?
a) oligopoly
b) pure competition
c) monopolistic competition
d) monopoly

Marketers use research techniques to
a) analyze competitors
b) determine which marketing strategies work the best
c) identify customers
d) all of these choice are correct

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

Probably the most difficult marketing decision to understand and plan is
a) product development
b) distribution
c) promotion
d) price

Business deal with customer needs in a variety of ways. Which of the following is the most effective?
a) They ignore their customers' needs because they don't consider them to be important
b) They believe their customers don't understand their own needs.
c) They try to understand how customers evaluate products and services to make decisions about what to purchase.
d) They try to influence customer needs with well-designed products and effective pricing and promotion.

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.

All of the following are common reasons for business failure except
a) the business understands and uses the marketing concept.
b) the business does not use any available marketing tools.
c) the business believes it knows what customers want
d) the business does not study the market

All of the following statements about marketing today are true except
a) marketing is usually thought of as a critical investment
b) marketing has expanded in scope from a few activities to a variety of activities
c) marketing is generally handled as a problem-solving tool.
d) all of these statements characterize marketing today.

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.

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