Principles of Marketing: Chapter 9 Test Review

A market includes all of the consumers available for a business to serve by selling a product or service.

• True

• False

It is possible for a company to select more than one segment for a target market.

• True

• False

It is very difficult for a business to compete when its products are almost identical to those of its competitors.

• True

• False

Few basic products are sold with additional features.

• True

• False

You do not purchase all products in the same way.

• True

• False

In order to develop marketing strategies that will be successful, marketers must focus exclusively on their own products and marketing efforts.

• True

• False

Information in a company's marketing information system (MkIS) is not typically used when the company develops its marketing plan.

• True

• False

A positioning statement is a specific description of the unique qualities of the marketing mix that make it different from the competition and satisfying to the target market.

• True

• False

A marketing strategy begins with the company goals on which the strategy is based.

• True

• False

The final section of the marketing plan identifies actions needed to accomplish and evaluate the marketing strategy.

• True

• False