421 / MKT/421 Final Exam 10 Correct 100% And Good Luck inEverything1) Which of the following statements best describes the modern viewof marketing?A. Marketing is concerned with generating a single exchange betweena firm and a customer.B. The job of marketing is to get rid of whatever the company isproducing.C. Marketing should take over production, accounting, and financialservices within a firm.D. Marketing begins with anticipating potential customer needs. 2) Predicting what types of bicycles different customers will wantand deciding which of these customers the business will try tosatisfy are activities a firm should do as part ofA. Marketing.B. Production.C. A command economy.D. Making goods or performing services. 3) For Tesla, a new firm that makes an electric sports car,estimating how many competitors will make electric vehicles andwhat kinds they will make, is:A. An example of the micro-macro dilemma.B. A part of marketing.C. A production activity.D. One of the universal functions of innovation. 4) To compete more successfully with its many competitors offeringpackaged cookies, Famous Amos added its own line of extra chunkypremium cookies. This seems to be an effort at:A. Market development.B. Product development.C. Market penetration.D. Combination. 5) Professional Dental Supply has been successfully selling dentalinstruments to dentists for the past 20 years, and has developedstrong customer relations. When looking for new marketingopportunities, Professional Dental Supply will most likely lookfirst atA. Market development.B. Product development.C. Diversification.D. Market penetration. 6) Which of the following statements regarding marketing strategiesis FALSE?A. Developing successful marketing strategies does not need to be ahit-or-miss proposition.B. These strategies require decisions about the specific customersthe firm will target and the marketing mix the firm will develop toappeal to that target market.C. These strategies must meet the needs of target customers, and afirm is likely to get a competitive advantage if it just meetsneeds in the same way as some other firm.D. It is useful to think of the marketing strategy planning processas a narrowing-down process. 7) Which of the following is true?A. The product P in the marketing mix stands for only tangiblemerchandise.B. The product P in the marketing mix stands for both physicalgoods and tangibleC. The product P in the marketing mix stands for both physicalgoods and services.D. The product P in the marketing mix stands for only physicalgoods. 8) The four Ps of a marketing mix are:A. Product, Price, Promotion, and ProfitB. Product, Place, Promotion, and PriceC. Promotion, Production, Price, and PeopleD. Production, Personnel, Price, and Physical Distribution 9) A firms marketing mix decision areas would NOT include:A. PriceB. PeopleC. ProductD. Promotion10) Big Fizz Co., a manufacturer of cola-flavored drinks, wants toadd packaged fruit juices to its existing product line. Big Fizzmust make some decisions regarding packaging and branding of thefruit juices. These decisions would fall under which variable ofthe marketing mix?A. PromotionB. PlaceC. PriceD. Product 11) When one considers the strategy decisions organized by the fourPs, branding is related to packaging as:A. Store location is to sales force selection.B. Production is to marketing.C. Personal selling is to mass selling.D. Branding is to pricing. 12) The area of the marketing mix is concerned withdecisions about getting the right product to the target market whenand where it is wanted.A. PromotionB. PeopleC. PlaceD. Product 13) The main difference between a marketing strategy and amarketing plan is that:A. A marketing strategy provides more detail.B. A marketing plan includes several marketing strategies.C. A marketing strategy omits pricing plans.D. Time-related details are included in a marketing plan. 14) Which of the following would probably NOT be in a proposedmarketing plan?A. Expected sales and profit results.B. A statement of how frequently the design of the website will bechanged.C. A description of the target market and marketing mix.D. A list of what company resources (costs) would be required. 15) A marketing plan is:A. A marketing strategyplus the time-related details for carryingit out.B. A marketing strategy.C. A target market and a related marketing mix.D. A marketing program. 16) Marketing strategy planners should recognize that:A. Large firms like General Electric, Target, and Procter &Gamble are too large to aim at clearly defined markets.B. Mass marketing is often very effective and desirable.C. Target marketing is not limited to small market segments.D. Target markets should not be large and spread out. 17) Good marketing strategy planners know that:A. Mass marketing is often very desirable and effective.B. Target marketing does not limit one to small marketsegments.C. The terms mass marketing and mass marketer mean basically thesame thing.D. Firms like Nabisco and WalMart are too large to aim at clearlydefined target markets. 18) Target marketing, in contrast to mass marketing,A. Ignores markets that are large and spread out.B. Is limited to small market segments.C. Focuses on fairly homogeneous market segments.D. Assumes that all customers are basically the same. 19) is the process of naming broad product-marketsand then segmenting these broad product-markets in order to selecttarget markets and develop suitable marketing mixes.A. Mass marketingB. Market positioningC. DiversificationD. Market segmentation 20) Clustering techniques applied to segmenting marketsA. Usually require computers to group people based on data frommarket research.B. Remove the need for managerial judgment.C. Eliminate the need for marketing managers to specify in advancewhat dimensions might be relevant for grouping consumers.D. All of the above are true. 21) The process of naming broad product-markets and then segmentingthem in order to select target markets and develop suitablemarketing mixes is called:A. Market development.B. Market penetration.C. Market research.D. Market segmentation. 22) utilizes qualitative andquantitative analysis procedures to help marketing managers makemore informed decisions.A. Marketing structure.B. Marketing planning.C. Marketing research.D. Marketing processing. 23) Procedures that develop and analyze new information to helpmarketing managers make decisions are called:A. Analytical research.B. Strategy planning.C. Marketing research.D. Operational planning. 24) A is an organized way of continually gatheringand analyzing data to get information to help marketing managersmake ongoing decisions.A. Marketing research projectB. Marketing information systemC. Marketing research departmentD. Marketing model 25) Marketing research which seeks structured responses that can besummarized is called:A. Qualitative research.B. Focus group research.C. Situation analysis research.D. Quantitative research. 26) When focus group interviews are used in marketing,A. It is primarily as a follow-up to more quantitativeresearch.B. Each person in the group answers the same questionnaire, tofocus the discussion.C. The research conclusions will vary depending on who watches theinterview whether online or off-line.D. The typical group size is 15 to 20 typical consumers whetheronline or off-line. 27) One of the major disadvantages of the focus group interviewapproach is thatA. It is difficult to get in-depth information about the researchtopic.B. There is no interviewer, so the research questions may not beanswered.C. It is difficult to measure the results objectively.D. Ideas generated by the group cannot be tested later with otherresearch. 28) Which of the following statements about consumer products istrue?A. Specialty products are those that customers usually are leastwilling to search for.B. Unsought products are not shopped for at all.C. Shopping products are those products for which customers usuallywant to use routinized buying behavior.D. Convenience products are those that customers want to buy at thelowest possible price. 29) The marketing manager at Massimino & McCarthy, a chain ofretail stores that sells mens clothing, is reviewing marketingresearch data to try to determine if changes in marketing strategyare needed. Which of the following sources of data would be asecondary data source?A. Making phone calls to some of the best customers to learn theirinterest in a new line of clothing.B. Spending time in stores observing customers behavior.C. Reviewing videotapes of a recent focus group.D. Looking through the companys marketing information system tosee past sales trends. 30) The attitudes and behavior patterns of people are part oftheA. Competitive environment.B. Firms resources and objectives.C. Social and cultural environment.D. Political environment. to 52
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