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Webster MRKT5000 midterm
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Question 1 0.6 pts
Marketing is the Process of:
promoting products through personal selling and advertising to facilitate satisfying exchange relationships
creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers in a dynamic environment
delivering a standard of living to a society
creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives
focusing on the customer's needs
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Question 2 0.6 pts
The focal point of all marketing activities is:
products
target markets
customers
sales
profits
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Question 3 0.6 pts
A target market
involves a large numbers of customers
is a specific group of customers on whom a company focuses its marketing efforts
already has several competitors vying for the customers' business
is the same as the saleperson's client list
is a customer group that includes persons with similar demographic characteristics
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Question 4 0.6 pts
The marketing mix
consists of a target market
is difficult for an organization to control
directly affects the marketing environment
focuses mainly on selling activities and advertising decisions
includes product, distribution, promotion, and pricing decisions
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Question 5 0.6 pts
A physical, concrete product you can touch is a(n)
good
service
idea
concept
philosophy
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Question 6 0.6 pts
The forces of the marketing environment are
sociocultural,legal,regulatory,economic, and competitive
competitive and noncompetitive forces that affect most lifestyles
political, legal, regulatory, sociocultural, technological, economic, and competitive
fairly static
legal,regulatory,political, and sociocultural
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Question 7 0.6 pts
The marketing plan is
a plan of all aspects of an organization's strategy
written for each SBU
designed to take into account not only marketing, but all other functional areas of a business unit as well
a written document detailing the activities to be performed to implement and control marketing activities
updated only periodically
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Question 8 0.6 pts
The strategic planning process begins with
development of an organizational mission
development of a marketing strategy
analysis of marketing objectives
development of a marketing plan
analysis of the marketing environment
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Question 9 0.6 pts
A competitive advantage exists when
a firm does something better than its competitors
a firm matches a core competency to opportunities it has discovered in the marketplace
the right combination of circumstances and timing allow a firm to reach a particular target market
a firm has a marketing plan
a firm observes a temporary period of optimum fit between the key requirements of a market and its own capabilities
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Question 10 0.6 pts
A long-term view, or vision, of what the organization wants to become is called a
mission statement
purpose statement
vision statement
marketing plan
strategic vision
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Question 11 0.6 pts
To monitor changes in the marketing environment effectively, marketers must engage in
use of the marketing concept
environmental scanning and analysis
information collection
marketing research
environmental management
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Question 12 0.6 pts
In its advertisements for Bud Light Beer, Anheuser-Busch has included a statement about "knowing when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts?
Federal regulation
City regulation
Social reputation
Self-regulation
State regulation
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Question 13 0.6 pts
The three factors that influence the ethical decision-making process include
individual factors, organizational culture, and peer influence
opportunity, personal moral philosophies, and situational variables
individual factors, organizational factors, and opportunity
societal forces, laws, and organizational factors
peer influences, personal moral philosophies, and opportunity
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Question 14 0.6 pts
Marketing research is BEST defined as
the framework for the day-to-day management and structuring of information gathered by marketers
a continuous gathering of data for an organization to make marketing decisions
the collecting of data from secondary sources and internal documents
an intuitive process for making decisions based on personal knowledge and experience
the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities
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Question 15 0.6 pts
When more information is needed about a problem and the tentative hypothesis needs to be made more specific, marketers usually conduct
descriptive research
causal research
exploratory research
analytical statistical research
syndicated research
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Question 16 0.6 pts
If Georgia-Pacific seeks information about trends in housing starts around the country and uses U.S. Department of Commerce reports to get this information, it is using which kind of data?
causal
exploratory
primary
laboratory
secondary
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Question 17 0.6 pts
An aggregate of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to purchase such products is called a(n)
marketing mix
aggregation
market
customer survey
influencer
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Question 18 0.6 pts
Markets fall into two categories. These categories are
consumer and customer
organizational and business-to-business
homogenous and heterogenous
customer segments and client segments
consumer and organizational
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Question 19 0.6 pts
The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called
diversification
target marketing
concentrating
segmentation
conditioning
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Question 20 0.6 pts
As Stan is shopping for groceries, he notices a product on the shelf and remembers that he is about to run out of it at home. In terms of the consumer buying decision process, Stan just experienced
purchase
postpurchase evaluation
information search
evaluation of alternatives
problem recognition
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Question 21 0.6 pts
If McDonald's uses a segmentation strategy for its sandwiches based on characteristics such as age, gender, or income, it is using which group of segmentation variables?
Geographic
Psychographic
Demographic
Product-related
Education
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Question 22 0.6 pts
The primary psychological influences on consumer behavior are
attitudes, perception, retention, exposure, roles, and lifestyles
perception, motives, learning, attitudes, personality, and lifestyles
attitudes, perception, social class, culture, and learning
perception, motives, reference groups, social class, and personality
lifestyles, personality, perception, motives, attitudes, and culture
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Question 23 0.6 pts
An open aggregate of people with similar social ranking is referred to as a
role
reference group
caste
subculture
social class
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Question 24 0.6 pts
Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as
consumer markets
institutional markets
producer markets
government markets
reseller markets
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Question 25 0.6 pts
Retailers like Wal-Mart and Kmart are considered to be members of which organizational market?
retailer
producer
institutional
reseller
services
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