Mkt 421 Final Exams 2

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1) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

A. A command economy.

B. Making goods or performing services.

C. Marketing.

D. Production.

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. A part of marketing.

C. An example of the micro-macro dilemma.

D. One of the universal functions of innovation.

3) According to the text, marketing means:

A. Selling.

B. Advertising.

C. Producing and selling.

D. Much more than selling and advertising.

4) 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 penetration.

B. Product development.

C. Combination.

D. Market development.

5) 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. Diversification.

B. Product development.

C. Market penetration.

D. Market development.

6) Which of the following statements regarding marketing strategies is FALSE?

A. 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.

B. 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.

C. It is useful to think of the marketing strategy planning process as a narrowing-down process.

D. Developing successful marketing strategies does not need to be a hit-or-miss proposition.

7) The marketing mix

A. Includes the target market

B. Includes four variables—advertising, personal selling, customer service, and sales promotion.

C. Includes four variables—People, Place, Promotion, and Price.

D. Helps to organize the marketing strategy decision areas.

8) A firm's marketing mix decision areas would NOT include:

A. People

B. Product

C. Promotion

D. Price

9) Product is NOT concerned with:

A. Branding.

B. Packaging.

C. Quality level.

D. Wholesale price.

10) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

A. Production is to marketing.

B. Personal selling is to mass selling.

C. Branding is to pricing.

D. Store location is to sales force selection.

11) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in their _____________________

A. promotional.

B. product.

C. pricing.

D. personnel.

12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix?

A. Place

B. Promotion

C. Price

D. Product

13) A marketing plan is:

A. A marketing strategy.

B. A marketing strategy—plus the time-related details for carrying it out.

C. A target market and a related marketing mix.

D. A marketing program.

14) The main difference between a marketing strategy and a marketing plan is that:

A. A marketing plan includes several marketing strategies.

B. A marketing strategy provides more detail.

C. A marketing strategy omits pricing plans.

D. Time-related details are included in a marketing plan.

15) Which of the following would probably NOT...
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