marketing quiz-MAR216C12 Principles of Marketing unit 1

Question 1 (2 points)

The difference between human needs and wants is that needs are not influenced by marketers.

Question 1 options:

[removed]

a) True

b) False

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Question 2 (2 points)

Nickson released a new range of watches that were titled after the famous mountaineer Adam Wills. These new watches were promoted through claims that the design is a favorite of Adam Wills who used a similar watch designed by Nickson for its high durability and quality on his expeditions. Such a measure to entice customers to buy one’s products aims at creating ________.

Question 2 options:

[removed]

a) customer equity

b) relationship marketing campaign

c) customer-perceived value

d) equitable relationship

e) societal marketing campaign

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Question 3 (2 points)

Product, price, place, and promotion make up the elements of a firm’s marketing mix.

Question 3 options:

[removed]a) True[removed]b) FalseSave

Question 4 (2 points)

In the final step, the company reaps the rewards of its strong customer relationships by capturing value from customers.

Question 4 options:

[removed]a) True[removed]b) FalseSave

Question 5 (2 points)

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to the national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ concept.

Question 5 options:

[removed]

a) marketing

b) product

c) production

d) societal marketing

e) selling

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Question 6 (2 points)

________ is the total combined customer lifetime values of all the company’s current and potential customers.

Question 6 options:

[removed]

a) Share of customer

b) Customer payoff

c) Customer equity

d) Customer cardinality

e) Customer perceived value

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Question 7 (2 points)

Ryan attempts to deliver customer satisfaction every day in his installation business, Audio Expressions. The key to achieving this goal is to match the customer-perceived performance of his product with ________.

Question 7 options:

[removed]

a) company projections

b) customer values

c) customer expectations-

d) customer relationship levels

e) company expectations

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Question 8 (2 points)

The societal marketing concept holds that ________.

Question 8 options:

[removed]

a) consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort

b) a company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests

c) the society will favor products that are available and highly affordable

d) achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do

e) consumers will favor products that offer the most in quality, performance, and innovative features

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Question 9 (2 points)

The process of dividing the market into segments of customers is known as market penetration.

Question 9 options:

[removed]a) True[removed]b) FalseSave

Question 10 (2 points)

Sally purchased the newly launched “Jolie” lotion. By attempting to find out if the lotion’s perceived performance matches her expectations, Sally was measuring her level of customer ________.

Question 10 options:

[removed]

a) perceived value

b) satisfaction

c) equity

d) engagement

e) lifetime value

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Question 11 (2 points)

In the four Ps of the marketing mix, promotion refers solely to advertising.

Question 11 options:

[removed]a) True[removed]b) FalseSave

Question 12 (2 points)

In a SWOT analysis, which of the following would be considered a strength for a company?

Question 12 options:

[removed]

a) a favorable economic climate that encourages consumption

b) the exit of a competitor from the market

c) inflation, which leads to higher prices of the company’s products

d) increasing consumer interest in its products

e) the company developing improved production technology

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Question 13 (2 points)

Which of the following measures the profits generated by investments in marketing activities?

Question 13 options:

[removed]

a) SWOT analysis

b) the BCG matrix

c) the growth/share matrix

d) marketing ROI

e) the product/market expansion grid

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Question 14 (2 points)

________ involves looking at whether a company’s basic strategies are well matched to its opportunities.

Question 14 options:

[removed]

a) Operating control

b) Task control

c) Agency control

d) Strategic control

e) Clan control

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Question 15 (2 points)

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.

Question 15 options:

[removed]

a) market targeting

b) positioning

c) diversification

d) market segmentation

e) market penetration

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Question 16 (2 points)

In the BCG matrix, ________ are low-share businesses and products in a market that is not expected to grow. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.

Question 16 options:

[removed]

a) dogs

b) cash cows

c) black holes

d) stars

e) question marks

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Question 17 (2 points)

Which of the following groups is included in both a company’s value chain and its value delivery network?

Question 17 options:

[removed]

a) customers

b) suppliers

c) employees

d) distributors

e) competitors

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Question 18 (2 points)

Which of the following best describes the value chain of a company?

Question 18 options:

[removed]

a) the collection of businesses and products that make up the company

b) the series of cash cows and stars in the company’s product line-up

c) the touchpoints at which a company or brand interacts with consumers of the company’s products

d) the series of departments that design, produce, market, deliver, and support a firm’s products

e) the collection of all the products in a particular product line

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Question 19 (2 points)

Which of the following products would CypressSound classify as a cash cow in on its BCG matrix?

Question 19 options:

[removed]

a) Cyan, a cell phone that is specially designed for music lovers, has a very low market share, though the market is growing steadily.

b) The home entertainment system offered by CypressSound has a strong market share, and the market is likely to expand in the future.

c) Xpress, an MP3 player, has a high market share, but the market for MP3 players is not expected to grow significantly.

d) AutoPlay, the company’s audio product for installation in cars, has a high market share, and the market for these systems has been growing constantly.

e) Unipress, a CD player, has a very low market share in a market that is shrinking rapidly.

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Question 20 (2 points)

Which of the following is true of company mission statements?

Question 20 options:

[removed]

a) Mission statements should be defined in terms of satisfying customer needs.

b) A firm’s mission statement should be product-oriented, focusing on the products the company sells.

c) Mission statements should not be specific, as this reduces the company’s potential for growth.

d) A company mission statement should be directed at the company’s publics rather than at its employees.

e) Mission statements should focus both on the company’s product as well as the technology used to produce it.

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Question 21 (2 points)

Kelstone Developers is planning to build a new shopping mall which requires the partial taking of a nearby park. Walking Green, an environmental group, challenged the plan, citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promised to build a park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.

Question 21 options:

[removed]

public

[removed]

a) financial public

b) government public

c) citizen-action public

d) internal

e) media public

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Question 22 (2 points)

Which of the following factors would come under the demographic environment for marketers?

Question 22 options:

[removed]

a) the company’s competitors

b) the company’s suppliers

c) the company’s shareholders

d) the level of technological advancement in the company’s production processes

e) the educational level of the company’s customers

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Question 23 (2 points)

A bank that helps a company finance transactions can be seen as both a financial intermediary and a financial public.

Question 23 options:

[removed]a) True[removed]b) FalseSave

Question 24 (2 points)

Which of the following would be a component of a company’s marketing microenvironment?

Question 24 options:

[removed]

a) a just-in-time inventory system followed by the company when making purchase decisions

b) a set of laws that require the company to scale down its promotional phone calls to customers

c) a changing demographic picture that the firm has to constantly adapt its products to

d) a new technology that would ensure significant cost-cutting if implemented in the firm

e) a set of environmental sustainability laws that significantly impact the company’s production processes

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Question 25 (2 points)

The ________ empowers the FTC to establish limits on quantity discounts, forbid some brokerage allowances, and prohibit promotional allowances except when made available on proportionately equal terms.

Question 25 options:

[removed]

a) Taft-Hartley Act

b) Robinson-Patman Act

c) Lanham Trademark Act

d) Wheeler-Lea Act

e) CAN-SPAM Act

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Question 26 (2 points)

Dextora Technologies manufactures microprocessors and caters exclusively to companies that produce high-end computers. Which of the following types of markets does Dextora target in this scenario?

Question 26 options:

[removed]

a) retail markets

b) government markets

c) consumer markets

d) business markets

e) reseller markets

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Question 27 (2 points)

Large societal forces like demographic, economic, natural, technological, political, and cultural forces that affect the microenvironment are considered to be part of the ________ of an organization.

Question 27 options:

[removed]

a) supplier chain

b) macroenvironment

c) marketing intermediaries

d) internal environment

e) distribution channels

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Question 28 (2 points)

Generation X is the largest age demographic in the U.S.

Question 28 options:

[removed]a) True[removed]b) FalseSave

Question 29 (2 points)

The baby boomer generation has been the poorest generation in U.S. history

Question 29 options:

[removed]a) True[removed]b) FalseSave

Question 30 (2 points)

The purchasing power of a population is categorized as being part of the technological environment of a company’s macroenvironment.

Question 30 options:

[removed]a) True[removed]b) FalseSave

Question 31 (2 points)

Which of the following has resulted from the increased educational levels of the U.S. population?

Question 31 options:

[removed]

a) decreased dependency on technology

b) increased job growth for professional workers

c) rise in the number of manufacturing jobs

d) decreased mobility of the population within the U.S.

e) a decrease in the number of women workers

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Question 32 (2 points)

Which of the following is true of the Telephone Consumer Protection Act?

Question 32 options:

[removed]

a) It establishes the Consumer Product Safety Commission and authorizes it to set safety standards for telephones and related accessories.

b) It authorizes the FTC to determine rules and regulations for consumer warranties.

c) It authorizes the implementation of the National Do-Not-Call Registry.

d) It prohibits discrimination against hiring people with disabilities in the telecommunication business.

e) It limits marketers’ use of automatic dialing systems and artificial or prerecorded voices. Answer: E

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Question 33 (2 points)

Which of the following is true of the Robinson-Patman Act?

Question 33 options:

[removed]

a) It bans the sale of hazardous toys and articles.

b) It protects and regulates distinctive brand names and trademarks.

c) It establishes the Federal Trade Commission to monitor and remedy unfair trade methods.

d) It amends the Clayton Act to define price discrimination as unlawful.

e) It regulates the distribution and content of unsolicited commercial e-mail.

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Question 34 (2 points)

Which of the following developments has resulted from a combination of changes in technological shifts and the geographical shifts of the U.S. population?

Question 34 options:

[removed]

a) a decrease in ethnic diversity and culture

b) a decrease in manufacturing jobs and workers

c) an increase in the conservative consumption patterns

d) an increase in the number of marriages with no intent to bear children

e) an increase in the small office/home office markets

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Question 35 (2 points)

The U.S. population is considered to be a homogeneous population where different ethnic groups have assimilated and lost their diversities.

Question 35 options:

[removed]a) True[removed]b) FalseSave

Question 36 (2 points)

Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

Question 36 options:

[removed]a) True[removed]b) FalseSave

Question 37 (2 points)

Data age quickly, so keeping the database current requires dedicated resources.

Question 37 options:

[removed]a) True[removed]b) FalseSave

Question 38 (2 points)

Which of the following statements is true with regard to the status of international research?

Question 38 options:

[removed]

a) It is on the decrease due to high costs.

b) The costs are significantly higher than the benefits.

c) There is an abundance of qualified research personnel.

d) Despite the costs of international research, the costs of not doing it are higher.

e) There is no dearth of primary data in international marketing research.

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Question 39 (2 points)

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Question 39 options:

[removed]

a) Test marketing

b) Marketing research

c) Commercialization

d) Integrated marketing

e) Exclusive distribution

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Question 40 (2 points)

In a simple random sample, ________.

Question 40 options:

[removed]

a) the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group

b) the researcher selects the easiest population members from which to obtain information

c) the researcher finds and interviews a prescribed number of people in each of several categories

d) every member of the population has a known and equal chance of selection

e) the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview

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Question 41 (2 points)

What is a major drawback of probability sampling?

Question 41 options:

[removed]

a) It can be time consuming.

b) Sampling error cannot be measured.

c) The sample size chosen is often too large for valid generalizations to be made.

d) Everyone has an equal chance of selection.

e) Marketers must rely on the judgment of the researcher in respondent selection.

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Question 42 (2 points)

Which of the following demonstrates the real value of a company’s marketing research and information system?

Question 42 options:

[removed]

a) the amount of data it generates

b) the variety of contact methods it uses

c) the efficiency with which it implements the research plans

d) the quality of customer insights it provides

e) the sampling plan it follows

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Question 43 (2 points)

Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?

Question 43 options:

[removed]

a) LexisNexis

b) Hoover’s

c) Dialog

d) U.S. Security and Exchange Commission’s database

e) ProQuest

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Question 44 (2 points)

As a marketing researcher for SoundSense, Nancy Bales has been asked to gather preliminary information that will help create a research hypothesis about EasyPlay, the new music player by SoundSense. Nancy has the task of conducting first-hand research about the characteristics of the target group that would buy EasyPlay, which the company believes to be superior to i-Pods and cell phones in terms of audio quality. Nancy Bales should conduct ________ research at this stage.

Question 44 options:

[removed]

[removed]d) internal

[removed]

a) causal

b) experimental

c) secondary

e) exploratory

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Question 45 (2 points)

Vernon Producers are running a series of marketing exercises to price their new range of goods suitably. With this purpose in mind, they have sold one of their key new products at two different prices in two different locations, holding all other factors like quality, promotion, customer service, and so on constant. This is an example of ________ research.

Question 45 options:

[removed]

a) exploratory

b) descriptive

c) causal

d) focus group

e) ethnographic

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Question 46 (2 points)

In a ________, the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview.

Question 46 options:

[removed]

sample

[removed]

sample

[removed]

sample

[removed]

a) stratified random

b) cluster

c) simple random

d) quota sample

e) convenience sample

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Question 47 (2 points)

Which of the following methods could a marketing researcher use to obtain information that people are unwilling or unable to provide?

Question 47 options:

[removed]

a) observational research

b) focus groups

c) personal interviews

d) Internet surveys

e) questionnaires

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Question 48 (2 points)

A researcher is conducting a study on a new type of insurance that has been released for professionals in jobs that pose a high risk to their life. The researcher, who has substantial experience in this field, has decided to select people who serve as fire fighters and fighter pilots following his own assessment of the people who would serve as good prospects for this insurance. The researcher has used ________ sampling here.

Question 48 options:

[removed]a) stratified random[removed]b) cluster[removed]c) simple random

[removed]

d) judgment

e) probability Answer: D

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Question 49 (2 points)

Which of the following is true about customer relationship management (CRM)?

Question 49 options:

[removed]

a) It eliminates the need to depend on information produced through primary research.

b) Its aim is to directly maximize profit margins.

c) Its aim is to establish cause-effect relationships between marketing strategies and consumption trends.

d) Its aim is to maximize customer loyalty.

e) It eliminates the need to use data mining techniques in marketing research studies.

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Question 50 (2 points)

Typically, customer information is buried deep in separate databases, plans, and records of many different company functions and departments. To overcome such problems, which of the following should you use?

Question 50 options:

[removed]

a) online market research tools

b) integrated marketing system

c) customer relationship management

d) internal company databases

e) mass marketing approach

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