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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