Worksheets2017-2018 Marketing Block Exam Study Guide
Total questions: 61
Worksheet time: 31mins
Name
Class
Date
1.
Marketing activities and jobs have not changed much over the past 100 years.
a)
true
b)
false
2.
When you buy an ice cream cone or a digital camera, you are involved in marketing.
a)
true
b)
false
3.
Each of the nine marketing functions occurs every time a product or service is developed and sold.
a)
true
b)
false
4.
The approach to managing marketing activities changes as organizations understand what makes marketing effective.
a)
true
b)
false
5.
Specialization of labor resulted in less of a given product being produced to exchange with other people.
a)
true
b)
false
6.
In the early 1900s, businesses were mostly concerned about producing products that the business believed customers could afford and would purchase.
a)
true
b)
false
7.
Planning is the most important element of the “4 Ps of Marketing.”
a)
true
b)
false
8.
A company that relies on promotion with brochures, advertisements, and public service announcements probably has not adopted the marketing concept.
a)
true
b)
false
9.
Marketing is responsible for identifying and planning for opportunities.
a)
true
b)
false
10.
Businesses that do not use the marketing concept are more concerned about producing products than understanding customer needs.
a)
true
b)
false
11.
Bringing a new product to the marketplace is expensive.
a)
true
b)
false
12.
Much of the planning efforts of a company are used to determine what to sell and how it will be presented to the customer.
a)
true
b)
false
13.
Most products and services are exchanged directly between the producer and the customer.
a)
true
b)
false
14.
The most important type of marketing research for most businesses is the study of potential and current customers.
a)
true
b)
false
15.
Monopolies are often more concerned about protecting their market and making a profit than about meeting the needs of consumers.
a)
true
b)
false
16.
Service businesses usually have less control over pricing than businesses that sell products.
a)
true
b)
false
17.
Most service businesses work directly with their customers rather than through a channel of distribution.
a)
true
b)
false
18.
Nonprofit groups such as the Red Cross have little need for marketing services.
a)
true
b)
false
19.
Dividing consumers into markets based on where they live is referred to as market segmentation.
a)
true
b)
false
20.
Offering cellular telephone plans suited to the number of phones in a family and the amount of minutes used in one month is an example of marketing a product based on product usage.
a)
true
b)
false
21.
Unlike the consumer market, the business market is fairly stable and is not segmented into various categories.
a)
true
b)
false
22.
Companies must be careful not to base their positioning decisions solely on the actions of their competitors.
a)
true
b)
false
23.
It is impossible for organizations to base their positioning strategies on the business environment because conditions change so rapidly and unexpectedly.
a)
true
b)
false
24.
Indirect competition occurs when businesses decide to emphasize factors of their marketing mix other than price.
a)
true
b)
false
25.
Competition forces businesses to offer reasonable prices for the products and services that consumers use.
a)
true
b)
false
26.
The type of competition faced by a business will affect its positioning.
a)
true
b)
false
27.
When businesses are in direct competition, competitors’ pricing strategies are very important.
a)
true
b)
false
28.
A new product will usually cause at least a temporary shift in consumer purchases until customers decide whether or not they like it.
a)
true
b)
false
29.
It is always costly and time-consuming to change promotional strategies.
a)
true
b)
false
30.
The Internet is virtually useless as a source of current competitive information.
a)
true
b)
false
31.
This marketing function provides security for products, personnel, and customers.
a)
selling
b)
pricing
c)
risk management
d)
promotion
32.
Exchanging products or services with others by agreeing on their values is known as
a)
marketing
b)
selling
c)
promoting
d)
bartering
33.
A location where people bring products to be conveniently exchanged is a
a)
central market.
b)
crossroads.
c)
stock exchange.
d)
money system.
34.
Which business function involves developing, implementing, and evaluating the plans and activities of a business?
a)
production
b)
management
c)
operations
d)
merchandising
35.
The first step of the marketing concept is to
a)
hire a team of talented marketing professionals.
b)
develop top-quality products or services.
c)
operate at a profit.
d)
identify what will satisfy customers’ needs.
36.
When a company decides which delivery service to use to get its products to customers, which component of the marketing mix is being considered?
a)
profit
b)
product
c)
distribution
d)
promotion
37.
An approach to customer service that gives employees the authority to solve many customer problems is called
a)
relationship marketing.
b)
social responsibility.
c)
hard selling.
d)
employee empowerment.
38.
A business takes a big risk when it is unwilling to
a)
cut costs.
b)
study the needs of its customers.
c)
increase promotion.
d)
all of the answers provided are correct.
39.
All of the following statements about marketing today are true except
a)
marketing is usually thought of as a critical investment.
b)
marketing has expanded in scope from a few activities to a variety of activities.
c)
marketing is generally handled as a problem-solving tool.
d)
all of the statements characterize marketing today.
40.
All of the following are common reasons for business failure except
a)
the business understands and uses the marketing concept.
b)
the business believes it knows what customers want.
c)
the business does not study the market.
d)
the business does not use any available marketing tools.
41.
Consumers with different needs require
a)
specialized products and services.
b)
more advertising.
c)
price incentives.
d)
fewer product choices.
42.
With the marketing concept, planning begins by
a)
product development.
b)
promotion.
c)
distribution.
d)
price.
43.
Businesses deal with customer needs in a variety of ways. Which of the following is the most effective?
a)
They ignore their customers’ needs because they don’t consider them to be important.
b)
They believe their customers don’t understand their own needs.
c)
They try to understand how customers evaluate products and services to make decisions about what to purchase.
d)
They try to influence customer needs with well-designed products and effective pricing and promotion.
44.
Probably the most difficult marketing decision to understand and plan is
a)
product development.
b)
promotion.
c)
distribution.
d)
price.
45.
The first step in the consumer decision-making process is to
a)
evaluate choices.
b)
recognize a need.
c)
make a decision.
d)
identify alternatives.
46.
Marketers use research techniques to
a)
identify customers.
b)
determine which marketing strategies work the best.
c)
analyze competitors.
d)
all of the above.
47.
Companies in this type of economic environment find the marketing concept to be of the most value.
a)
an oligopoly
b)
pure competition
c)
monopolistic competition
d)
a monopoly
48.
Which element of the marketing mix usually receives the most attention from producers and manufacturers?
a)
product
b)
price
c)
promotion
d)
place or distribution
49.
Most final pricing decisions are made by
a)
wholesalers.
b)
distributors.
c)
retailers.
d)
producers.
50.
This approach directs a company’s marketing mix at a large and heterogeneous group of consumers.
a)
market segmentation
b)
mass marketing
c)
telemarketing
d)
buzz marketing
51.
People’s interests and values are referred to as
a)
demographics.
b)
market segmentation.
c)
geographic segmentation.
d)
psychographics.
52.
Market segments should be evaluated on all of the following characteristics except
a)
number of potential customers.
b)
employees’ desire to serve potential customers.
c)
customers’ interest in the product or service.
d)
amount of money customers have available to make the purchase.
53.
Which of the following is the last step in identifying potential market segments?
a)
Gather information for analysis.
b)
Choose a basis for segmenting the market.
c)
Identify the segments that exist in the market.
d)
Use market information to choose the markets that present the greatest and least amount of potential.
54.
If a camera manufacturer markets its cameras as taking sharper, clearer pictures than competing models, how is it positioning its products?
a)
by product user
b)
by attribute
c)
by price
d)
by use or application
55.
Which of the following is an example of indirect competition?
a)
Nike vs. Reebok
b)
McDonald’s vs. Burger King
c)
Netflix vs. Landmark Movie Theaters
d)
Holiday Inn vs. Ramada Inn
56.
Which of the following is not a benefit of competition?
a)
The consumer receives the best price for the product.
b)
It encourages product improvement and innovation.
c)
It guarantees low employment rates and low inflation rates.
d)
It offers consumers a wide choice of products and services.
57.
A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in
a)
price competition.
b)
direct competition.
c)
attribute competition.
d)
market competition.
58.
Businesses engage in which of the following activities to gain information about the competition?
a)
purchase and analyze competitor’s products
b)
study customers and customer records
c)
collect and study newspaper and magazine articles
d)
all of the above
59.
An exhibition where companies associated with an industry gather to showcase their products is called a(n)
a)
trade show.
b)
flea market.
c)
job fair.
d)
target market.
60.
Business that use the marketing concept first develop a product or service and then decide how it will be marketed.
a)
true
b)
false
61.
The price and quality positioning strategy always stresses higher price as a sign of quality.
a)
true
b)
false
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