MKC1 Practice Tests
Terms in this set (30)
Which activity would be considered part of the communicating component of marketing?
A salesperson trying to sell products door-to-door
Which of the following examples best illustrates the marketing concept?
A catering firm decides to expand its hours of operations to better serve working mothers.
Hispanic consumers are the target market for many products because this is a:
growing group of consumers with over a trillion dollars in buying power.
Which of the following refers to a person's self-concept?
How a person sees himself
Motivation refers to:
the inward drive we have to get what we need.
Advertising meant to startle people to get their attention is _____, while advertising that is not apparent to consumers is _____.
shock advertising; subliminal advertising
Jeff manages sales dealership of high-end luxury brand of automobile. His target market is limited to a specific social class, which restricts his customer base. If his company creates cars for middle class consumers he risks:
cheapening his brand.
To avoid head-on competition with other firms trying to capture the same customers, a firm may choose a _____ strategy.
GammaTech Inc. has released a new MP3 player. The device is packaged along with a set of compatible headphones and an A/C adapter, and a two-year warranty. Such an offering would be known as a(n) _____.
To understand if a product offering is financially feasible to justify investing in it, companies often consider the customer's _____.
personal value equation
Organizations that are involved in the process of producing, promoting, and delivering company products to its user but are not active participants in selling of the products are referred to as _____.
_____ typically involves researching a specific market to determine its size and trends.
The Internet and social media:
have changed company promotional strategies.
Good public relations efforts:
can help a firm create rapport with its customers.
Alex is trying to close a deal with a customer but he is experiencing _____ because his boss wants him to sell a year's supply of products while the customer only needs six months' worth of products.
Tim's book company sets an expected profit of 15% in the first two years on all newly published books in relation to the money invested in the author and publication. This is an example of what type of pricing objective?
Targeted return on investment
Price is a signal of _____.
Before pricing a product, an organization must determine its _____.
Many companies believe capturing a maximum amount of market share is:
important in terms of matching competitor's pricing.
about increasing revenues and decreasing costs.
The marketing plan should constantly answer the question:
"Why should I buy your brand?"
external negative conditions of the macroenvironment.
Understanding the history that Hispanics have had with financial institutions in their home countries is important to marketers when developing campaigns. This is an example of understanding the:
social and cultural environment.
Your home has been infested with mice of late. So when you see an advertisement in the newspaper for a new mousetrap, you immediately pay attention. In this case, your response to the advertisement is mainly influenced by your:
When Jeff watched a video of his last presentation, he realized that he was restricting eye contact to his boss, largely ignoring the rest of the audience. This observation will specifically help him:
focus on improving a specific type of non-verbal communication.
Online marketers run the risk of cannibalization when they:
Self-inflict price cuts by creating competition among their own products
To be effective, market segmentation must meet which of the following basic requirements?
The market segment must have measurable purchasing power and size
A company plans to introduce its new product in several different locations with a series of communications tailored for each location. Which form of promotional strategy would the company select?
Alliances are considered essential in a country where:
The partners combine resources and capital to create competitive advantages in a new market
Marketers must constantly monitor their competitor's products, prices, distribution, and promotional efforts because the:
New products offerings by a competitor may require adjustments to one or more components of the firm's marketing mix
Food manufactures often set up tables in grocery stores where customers can sample featured products. The goal of this type of promotion is to influence ................ Component of attitude.
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