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MKT 101 EXAM 1
Terms in this set (75)
C. The exchange process
Which activity is a central aspect of the definition of marketing?
c. The exchange process
D. Business manufactures and sells products without first determining consumer desires
During the production era of marketing,
a. businesses increase supply to keep up with demand.
b. research becomes necessary to determine consumer desires and needs.
c. consumer research and analysis are integrated into all efforts.
d. business manufactures and sells products without first determining consumer desires.
B. Marketing company era
The current era of marketing is known as the
a. Internet era.
b. marketing company era.
c. post-industrial era.
d. sales era.
D. The marketing concept
A value-based philosophy is a key component of
b. a selling philosophy.
c. mass marketing.
d. the marketing concept.
B. Production capability
A consumer orientation does not usually focus on
a. market needs.
b. production capability.
C. Is only a guide to planning
Although the marketing concept enables an organization to analyze, maximize, and satisfy
consumer demand, it should be realized that the concept
a. is only a theory.
b. does not apply to non-profit organizations.
c. is only a guide to planning.
d. is unnecessary in a competitive marketplace.
The last step for a firm that practices a marketing philosophy is
c. consumer satisfaction.
d. relationship marketing.
C. identifiable but relatively intangible
Customer service activities are
a. unidentifiable, but relatively tangible.
b. unimportant to consumers.
c. identifiable, but relatively intangible.
d. unrelated to the success of goods and services.
B. Employee empowerment
Workers can "break the rules" to honor customer requests with
a. motivated marketing.
b. employee empowerment.
c. a selling philosophy.
d. power selling.
C. Consumers today are more satisfied with customer service than ever before
Which statement is incorrect?
a. Customer service has a large effect on customer satisfaction.
b. Consumers today have many mechanisms by which to complain.
c. Consumers today are more satisfied with customer service than ever before.
d. Employee empowerment often leads to greater customer satisfaction.
D. Customer satisfaction
The degree to which there is a match between customer expectations and the actual performance
of a good or service is known as
a. customer service.
b. consumer marketing.
c. marketing functionality.
d. customer satisfaction.
A. It places an emphasis on customer loyalty
Which statement about relationship marketing is correct?
a. It places an emphasis on customer loyalty.
b. It is short-run oriented.
c. It cannot be conducted with final consumers.
d. It is not a good policy for nonprofit organizations.
D. 50 percent
According to some estimates, marketing costs can be as high as what percentage of a firm's sales?
a. 10 percent
b. 20 percent
c. 40 percent
d. 50 percent
D. Can be shifted and shared
Basic marketing functions
a. can be eliminated in most situations.
b. are usually performed by one party.
c. can be organized with only direct marketing.
d. can be shifted and shared.
B. Make or sell complementary products
Marketing directly to customers would often require a company to
a. seek a marketing specialist.
b. make or sell complementary products.
c. eliminate many marketing functions.
d. share distribution of high-volume sales items
A. advertising strategy
Which of the following is not a factor primarily controlled by top management?
a. Advertising strategy
b. Line of business
c. Role of marketing
d. Overall objectives
Heavily involved in consumer research
When it is considered important by a firm, marketing is
a. equated with sales.
b. given staff status.
c. heavily involved in consumer research.
d. controlled by a production vice-president.
Engage in market segmentation
In selecting a target market, marketers usually
a. engage in market segmentation.
b. ignore competitors.
c. control the marketing plan.
d. determine the marketing mix.
Which of the following is not a form of marketing organization?
Product, price, promotion, and distribution decisions are components of the
a. marketing philosophy.
b. marketing concept.
c. marketing mix.
d. marketing organization.
Whether to sell via intermediaries or directly to consumers, how many outlets to sell through, and
whether to control or cooperate with other channel members are examples of decisions marketers
must make about
Continuous monitoring of their effects
The most effective approach to the uncontrollable factors in the marketing environment is
a. constantly reorganizing the marketing organization.
b. product innovation.
c. insulating the marketing plan from them.
d. continuous monitoring of their effects.
Has a lot of control over the marketing plan
In a monopoly, one firm
a. finds that consumer demand is quite elastic.
b. seeks to engage in price wars.
c. has no control over price because merchandise is standardized.
d. has a lot of control over the marketing plan.
Where a few large firms comprise most of an industry's sales, the competitive structure is best
a. monopolistic competition.
d. competitive monopoly
A firm has the least control over its pricing strategy in
a. monopolistic competition.
b. pure competition.
Foreign competitors now play a declining role in many industries
Which of these statements is not correct?
a. It is necessary to study the competitive strategies of other firms.
b. There is now a trend toward larger firms.
c. Pure competition occurs much less often than does monopolistic competition.
d. Foreign competitors now play a declining role in many industries
Looks at competition as broadly as possible
When a firm defines its competition in generic terms, it
a. focuses on patent expiration dates.
b. sells low-end products at discount prices.
c. looks at competition as broadly as possible.
d. examines its existing channel partners
Which type of competition most closely resembles generic competition?
a. Intermodal competition
b. Bimodal competition
c. Direct competition
d. Indirect competition
Patents provide exclusive rights to sell new products for specific time periods
Which statement about technology is true?
a. Small firms can usually control the technological advances that affect them.
b. Technology cannot reduce the impact of resource shortages.
c. Loss of patent protection decreases competition.
d. Patents provide exclusive rights to sell new products for specific time periods.
Acquire feedback from the environment
To attain its objectives, a firm is well advised to
a. acquire feedback from the environment.
b. maintain its existing strategies at all costs.
c. ignore uncontrollable factors.
d. bypass the independent media entirely.
To monitor the environment
Which of the these is a reason why a firm should continuously collect and analyze information
regarding its marketing plan?
a. To rely more heavily on executive judgment
b. To maintain secrecy about its operations.
c. To guarantee success
d. To monitor the environment
Which of the following is a component of a marketing intelligence network?
a. Data warehousing
b. Product design
c. Marketing entropy
Which of these is never a type of commercial database?
a. infoUSA CDs
b. Census data
c. Internal secondary data
d. Primary data
Must be conducted in a systematic manner to be effective
a. can be applied to only certain aspects of marketing.
b. should be crisis-oriented.
c. must be conducted in a systematic manner to be effective.
d. includes only data collected from sources outside the firm.
Establishing the issue to be studied
The first step in the marketing research process involves
a. establishing the issue to be studied.
b. surveying consumers.
c. studying competitors.
d. implementing findings.
secondary data are generally more easily and inexpensively obtained than primary data
Secondary data should be collected before primary data because
a. secondary data will have guaranteed suitability to current research; primary data will not.
b. secondary data will always be current, whereas primary data may be dated or obsolete.
c. secondary data are generally more easily and inexpensively obtained than primary data.
d. secondary data will not yield conflicting information from different sources; primary data may.
Attending trade shows
Which of the following is not an example of internal secondary data?
a. Customer billings
b. Inventory records
c. Attending trade shows
d. Sales figures
Information is current
Which of the following is an advantage of primary data?
a. Data collection is typically fast.
b. Information is current.
c. Primary data are usually less expensive to collect than secondary data.
d. Most firms are skilled in primary data collection.
Choosing 125 females ages 18-29 and 125 females ages 30 and older to participate in a research
study is an example of a(n)
a. exploratory research study.
b. non-probability sample.
c. probability sample.
d. external secondary data search.
Which of the following is not one of the four basic methods of primary data collection?
Which of the following research methods has the least interviewer bias?
b. Personal surveys
c. Telephone surveys
d. Mail surveys
Inability to complete the survey at a convenient time
Among the disadvantages of conducting an Internet survey is the
a. inability to complete the survey at a convenient time.
b. speed with which surveys are returned by respondents.
c. ability to avoid participation by incorrect respondents.
d. ability to avoid nonresponse problems.
A semantic differential
If a firm wants to study consumer attitudes through the use of bipolar (opposite) adjectives, it will
most likely use
c. a semantic differential.
Ability to show cause and effect
A major advantage of an experiment is its
a. infrequent use of contrived settings.
b. relatively low costs.
c. ability to show cause and effect.
d. ability to control all factors in or affecting a marketing plan.
The process by which each completed data form is numbered and response categories are labeled
a. survey design.
Marketing practices often encourage unrealistic consumer expectations
Which of these statements is correct?
a. Marketing practices often encourage unrealistic consumer expectations.
b. The true level of customer dissatisfaction is usually known.
c. Deceptive actions are okay if no one is physically injured.
d. Tobacco products are most affected by the genealogical view of marketing
Balances short-term profit needs with society's long-term needs
Corporate social responsibility
a. considers only the needs of society.
b. balances short-term profit needs with society's long-term needs.
c. does not refer to issues such as product availability and innovation.
d. considers only deceptive actions
Which of these countries annually discards the most trash per person?
c. United States
A practice that encourages short-run material wearout, style changes, and functional product
a. product innovation.
b. price gouging.
c. planned obsolescence.
d. product cloning.
An example of a process-related ethical issue is
a. price fixing.
b. liquor marketing.
c. food shortages.
d. cigarette manufacturing
There is often commercialism by non-profit groups and implicit endorsements for sponsor
Which of the following statements about cause-related marketing is correct?
a. Companies participating in cause-related marketing often do not seek any profits.
b. There is often commercialism by non-profit groups and implicit endorsements for sponsor products.
c. While its use was once considered somewhat controversial, that is no longer true.
d. It has not been used by such non-profits as the Red Cross.
Which of the following is not one of the basic rights outlined in President John Kennedy's
consumer bill of rights?
a. Mass marketing
Cooperation between business and consumers rose
During the fourth era of consumerism,
a. there was a reduction in the emphasis on business deregulation.
b. cooperation between business and consumers rose.
c. state and local governments became less active in environmental issues.
d. the budgets of the federal agencies concerned with consumer issues increased significantly
Use product information infrequently
Consumers who need it most
a. use product information infrequently.
b. use product information in their decision making.
c. demand more product information.
d. use product information to complain to manufacturers.
Which of the following products does not fall under the jurisdiction of the Consumer Product
a. TV sets
c. Electrical wiring
The primary enforcement tool of the Consumer Product Safety Commission is
a. purchase-price refunds.
b. adverse publicity.
c. product recall.
Consumers have the right to sue the makers of injurious products
Which of these statements is correct?
a. Consumer lawsuits are rare in the United States.
b. Japan has more consumer lawsuits than any other country.
c. Consumers have the right to sue the makers of injurious products.
d. The CPSC is a legislative branch of the Supreme Court
a single overall US consumer agency
Which of the following is not available to consumers in their quest to be heard?
a. Industry specialists
b. A directory of federal agencies regulating business
c. Consumer groups
d. A single overall U.S. consumer agency
Better Business Bureau
The largest and broadest business-operated U.S. trade association involved in consumer issues is
a. Better Business Bureau.
b. Bank Marketing Association.
c. Chamber of Commerce.
d. Federal Trade Commission
There is a somewhat more aggressive state government posture toward consumer-related issues.
In contrast to the 1980s, currently,
a. the Food and Drug Administration is no longer a government agency.
b. firms are no longer required to report settlements of product-safety lawsuits involving death
or disabling injuries to the CSPC.
c. there is a somewhat more aggressive state government posture toward consumer-related
d. state and local governments have reduced their involvement in consumer-related issues
the home economy is shrinking
Companies are more likely to engage in international marketing when
a. competition in the home country is falling.
b. the home economy is shrinking.
c. the home population base is growing.
d. the home tax rates are lower.
Superior quality control for US made products
Which of these is not a contributing factor to the U.S. trade deficit?
a. Trade restrictions in foreign markets
b. Superior quality control for U.S.-made products
c. High U.S. labor costs
d. Increased competition in foreign markets
Cultural awareness most clearly requires marketing research on
b. trade restrictions.
c. size of demand.
d. hidden meanings.
Is a frequently used measure of economic performance
The gross domestic product
a. is difficult to calculate.
b. refers to the average quantity and quality of goods and services consumed in a country.
c. is a frequently used measure of economic performance
d. gives the United States an index of 100 against which other nations are rated.
Per-capita income of about $4,000 to $9,000.
Developing countries have
a. per-capita income of about $4,000 to $9,000.
b. 60 percent of the world's population.
c. widespread modern technology.
d. less than 5 percent of the world's income.
Engaging in direct ownership
Which of the following is not a way in which an international firm can protect itself from the
adverse effects of nationalism?
a. Measuring domestic instability
b. Engaging in direct ownership
c. Taking in foreign partners
d. Insuring itself
Which of these limits the quantity of specified products allowed into a country?
d. Local content laws
Economics communities are now illegal
Which statement is not correct?
a. Economic communities are now illegal.
b. NAFTA includes Canada.
c. The Andean Pact includes countries from Latin America.
d. The European Union has a larger population than the United States.
The lowest level of commitment to international marketing is
b. contract manufacturing.
d. direct ownership.
Which of the following is a type of joint venture?
a. Indirect selling
b. Direct selling
c. Management contracting
d. Global marketing
The most risky form of organization for international marketing is
a. joint venture.
b. direct ownership.
d. management contracting.
Present a uniform image
Standardized international marketing plans
a. work best when distinctive foreign markets are involved.
b. are sensitive to regional needs.
c. involve decentralized control.
d. present a uniform image.
The international product-planning strategy most appropriate for laundry detergent formulation is
a. backward invention.
b. straight extension.
c. forward invention.
d. product adaptation
In which of the following countries does PepsiCo market soft drinks via the domestic AmBev
beer and soda company?
b. Great Britain
To remove excess supply from the home market
Dumping refers to selling goods abroad
a. at high prices.
b. with prices similar to those in the home market.
c. to remove excess supply from the home market.
d. so that cheap labor may be used.
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