Marketing Quiz

Since marketing research is a main data source for management information systems, _______.

• It does not allow managers to explore alternatives

• The findings of marketing research become data for management decision making

• It cannot help managers serve future customers

• The findings of marketing research lead to inaccurate forecasts as the marketplace changes

Marketing is based on the understanding that organizations have employees, suppliers, stockholders, and distributors as _______.

• Stakeholders "Partners"

• Competitors

• Clients

• Consultants

Marketing that aims at markets across the world is called _______.

• Global Marketing

• Outsourcing

• Inshoring

• Regional Marketing

When a firm focuses on its internal capabilities rather than on the desires and needs of the marketplace, then the firm is said to have adopted the _______ orientation.

• Societal Marketing

• Sales

• Market

• Production

Which of the following statements is true of markets?

• They are composed of people or organizations

• They thrive only with government funds and subsidies

• They provide discounts for every consumer

• They influence consumers to buy products they do not need

_______ is the most complex type of consumer buying decision and is associated with high involvement on the part of the consumer.

• Limited Decision Making

• Routine Response Behavior

• Extensive Decision Making

The purpose of market segmentation is to _______.

• Enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments
• Change consumer attitudes and beliefs towards a product

• Divide a market into submarkets of equal sides and equal number of consumers

• Eliminate the need for developing marketing objectives

The process of defining, dividing, and subdividing a large homogenous market into clear identifiable segments having similar needs, wants, or demand characteristics is identified as _______.

• Consumer Market

• Market Segmentation

• Market Criteria

• Market Concentration

A country has a(n) _______ when it can produce a product or service at a lower cost than any other country or when it is the only country that can provide the product or service. Mark only one oval.

• Global Vision

• Protectionist Policy

• Absolute Advantage

• Free Trade Policy

A company that is heavily engaged in global trade, beyond exporting and importing, is called _______. Mark only one oval.

• Regional Firm

• Capital Investment Firm

• Multinational Corporation

• Export Agent