MKT304

1. Which of the following is an example of a marketing exchange? 

• A. The waitress gave Cyrus a menu, and he placed his food order.

• B. Griffin helped Mandy replace the air filter in her lawn mower.

• C. Ken and Maggie gave their son an MP3 player for his birthday.

• D. In return for painting her fence, Mrs. Maloney gave Larry a box of homemade fudge.

• E. Jenny asked Melisa if she could borrow her pen for a while since her pen had stopped working.

2. Which of the following statements is true about marketing? 

• A. Most marketers are seeking a one-time exchange or transaction with their customers

• B. The focus of production-driven companies is on developing and sustaining relationships with their customers.

• C. Successful companies recognize that creating and delivering value to their customers is extremely important.

• D. Though marketing plays an important role in developing relationships with customers, it cannot do much to maintain them.

• E. By definition, a marketing transaction has to involve the exchange of money

3. _____ is the customer's perception of all the benefits of a product or service weighed against all the costs of acquiring and consuming it. 

• A. Cost efficiency

• B. Information

• C. Range

• D. Value

• E. Exposure

4. According to the marketing and promotions process model, the marketing process begins with the: 

• A. development of the marketing mix.

• B. development of a marketing strategy and analysis.

• C. development of the promotional mix.

• D. determination of the target market.

• E. establishment of marketing objectives.

5. A(n) _____ is a document that evolves from an organization's overall corporate strategy and serves as a guide for specific marketing programs and policies. 

• A. strategic marketing plan

• B. integrated marketing communications plan

• C. situation analysis

• D. opportunity analysis

• E. competitive plan

6. _____ is a detailed assessment of the current marketing conditions facing the company, its product lines, or its individual brands. 

• A. Strategic marketing plan

• B. Integrated marketing communications plan

• C. Situation analysis

• D. Opportunity analysis

• E. Competitive plan

7. _____ are the major participants in the integrated marketing communications process. 

• A. Advertising agencies and new product development firms

• B. Advertisers and media organizations

• C. Media organizations and marketing information systems

• D. Travel agencies and public relations firms

8. Company A has hired company B to take care of its advertising needs. All company A has to do is provide its products and funds to company B to execute its advertising requirements. Company A is known as a(n): 

• A. client.

• B. creative boutique.

• C. full service agency.

• D. advertising agency.

• E. media organization.

9. The term client, in the ad agency industry, refers to the: 

• A. advertiser or organization that has the product, service or cause that needs to be marketed.

• B. media, which plays a crucial role in the process of marketing communication.

• C. purchaser of the consumer product advertised.

• D. market for business or consumer products. .

• E. advertising agency that specializes in the creation, production, and/or placement of the communications message

10. Consumer behavior is defined as: 

• A. a process of conspicuous consumption.

• B. the process people engage in when searching for, selecting, and using products and services they need.

• C. the act of physically purchasing a product.

• D. the act of making a final decision as to which product to purchase.

• E. the process product producers use to design new products.