Strategic Marketing 1st Semester Exam Review

In business, a marketing concept will list information such as ethnic background, age, income level and geographic location.

• True

• False

Selling camping gear through catalogs mailed to Sierra Club members and other outdoorspeople is an example of place utility.

• True

• False

People who share similar needs and wants and who can purchase your products are called a market.

• True

• False

In business, ethics are guidelines for good behavior.

• True

• False

Having an attractive appearance is an essential leadership characteristic.

• True

• False

The attempt in the 1980s and 1990s to increase company efficiency by downsizing resulted in a greater feeling of empowerment among employees.

• True

• False

For businesses, the major source of data on future economic trends such as inflation rates is the federal government

• True

• False

Ten percent of all new products are successful in the consumer marketplace.

• True

• False

The written questionnaire sent by mail is relatively inexpensive, can reach a large audience, and has a return rate of about 60 percent.

• True

• False

Test marketing occurs in only one geographic area at a time so that testing results can be measured more easily.

• True

• False