Marketing: Study Questions

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Module 1
Study Quiz
1. Marketing is: a) About invention of new markets, new products and new services b) About the invention of new ways of distributing and reaching customers c) About researching, finding, understanding and making new markets d) About creating and changing market processes that change markets e) All of the above 2. A responsibility of marketers is to sell new products and ideas to decision-makers in their organization. a) Yes b) No 3. The focus of companies needs to be on winning: a) The product innovation race b) The distribution innovation race c) Both a and b d) Either a or b e) None of the above 4. There are times when it helps for a marketing executive to support the status quo and to promote long established and successful standard operating procedures. a) Yes b) No 5. Excellence in advertising and promotions is most needed when your products and distribution are weak. a) Yes b) No

Study Quiz
1. The British Trading Empire replaced the German Trading Empire, which replaced the Spanish trading empire, which replaced the Aztec trading empire. a) True b) False When a nation’s leaders act as brakes rather than engines of change they help the nation by restoring stability and certainty. a) True b) False

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3. The first ecological disaster that destroyed an early trading empire occurred in: a) China b) Africa c) Central America d) The Middle East e) Europe

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Adam Smith emphasized the importance of growth through the added value of invention. a) Yes b) No Wealth is created by: a) Selling and buying b) Invention c) The additive combination of trading and invention d) The dynamic combination of selling, buying and invention

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Schumpeterian welfare creation and economic growth comes from a new product that works far better than the old product it replaced. a) True b) False

Study Quiz
1. What competitive advantage does North America have that is discussed in this section? a) A superior higher education system b) Most of the world’s capital c) A superior distribution system 2. Wal-Mart has increased the productivity of the whole of the United States. a) True b) False 3. Wal-Mart is not an example of the natural evolution of distribution toward greater efficiency and effectiveness. a) True b) False

4. The lower the cost of trade and the faster the speed of trade flows, a) The faster the opening up of new markets around the world. b) The faster new sources of low cost labor are introduced into the supply-chain. c) The more everyone benefits. d) a and c above e) a and b above 5. The refrigerated cargo ship was invented in the 1920’s. a) True b) False

Study Quiz
1. Modern production methods cannot be made to work in regions that have barely progressed beyond the stage of peasantry. a) True b) False

2. When domestic and global sources in existing trading alliances come under pressure to innovate, to reduce prices and increase services: a) Domestic manufacturing output contracts as profits are lowered. b) Consumer prices drop in very price competitive markets. c) Retailer/distributor profits increase. d) a and b above e) a, b and c above 3. When an economic downturn occurs as a result of shifting investment and employment resulting from global sourcing: a) Distributors try even harder to discover new sources of global supply. b) Distributors try even harder to discover new sources of domestic supply. Below are nine events that describe global trading dynamics. Using their assigned numbers, which of the following sequences of numbers correctly describes part of the dynamics? a) 1-9-3-7-8-2-5 b) 8-5-2-6-3-9-4 c) 9-4-8-5-2-6-7 d) 4-8-2-5-1-6-9 e) 8-5-2-1-3-7-9

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5. Above are nine events that describe global trading dynamics. Using their numbers which of the following sequences of numbers correctly describes part of the dynamics? a) 8-5-2 b) 6-9-1 c) 8-3-9 d) 1-3-9 e) 5-1-6

Study Quiz
1. 2. 3. 4. Marketing manipulates the needs and wants of consumers. a) True...
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