Mkt 421 Final Exam

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1) According to the text, marketing means:
A. Selling.
B. Much more than selling and advertising.
C. Producing and selling.
D. Advertising.

2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is: A. A production activity.
B. One of the universal functions of innovation.
C. An example of the micro-macro dilemma.
D. A part of marketing.

3) Which of the following statements best describes the modern view of marketing? A. Marketing should take over production, accounting, and financial services within a firm. B. The job of marketing is to get rid of whatever the company is producing. C. Marketing is concerned with generating a single exchange between a firm and a customer. D. Marketing begins with anticipating potential customer needs.

4) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at A. Market development.

B. Diversification.
C. Product development.
D. Market penetration.

5) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at: A. Market development.

B. Market penetration.
C. Product development.
D. Combination.

6) Which of the following statements regarding marketing strategies is FALSE? A. Developing successful marketing strategies does not need to be a hit-or-miss proposition. B. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm. C. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market. D. It is useful to think of the marketing strategy planning process as a narrowing-down process.

7) A firm's marketing mix decision areas would NOT include: A. Price
B. People
C. Product
D. Promotion

8) Which of the following is true?
A. The product P in the marketing mix stands for only tangible merchandise. B. The product P in the marketing mix stands for both physical goods and services. C. The product P in the marketing mix stands for both physical goods and tangible D. The product P in the marketing mix stands for only physical goods.

9) Product is NOT concerned with:
A. Wholesale price.
B. Branding.
C. Packaging.
D. Quality level.

10) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in their _____________________ A. personnel.
B. promotional.
C. product.
D. pricing.

11) Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix variable that is being considered here is: A. Product.

B. Placement.
C. Promotional.
D. Pricing.

12) The ______ area of the marketing mix is concerned with decisions about getting the right product to the target market when and where it is wanted. A. Promotion
B. Place
C. People
D. Product

13) The main difference between a marketing strategy and a marketing plan is that: A. A marketing strategy provides more detail.
B. A marketing strategy omits pricing plans.
C. A marketing plan includes several marketing strategies. D. Time-related details are included in a marketing plan.

14) A marketing plan is:
A. A marketing strategy—plus the time-related details for carrying it out. B. A target market and a related marketing mix.
C. A marketing strategy.
D. A marketing program.

15) Which of the following is part of a complete marketing...
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