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Marketing Obj. 1 Part 2

Total questions: 60

Worksheet time: 3600secs

Name
Class
Date
1.

Marketers plan where they need to go and how to get there efficiently in order to

a)

lay out their strategies.

b)

agree upon a goal.

c)

measure their success.

d)

achieve satisfying connections.

2.

For the strategy of conducting customer surveys, with tactics including contacting customers and tabulating survey results, which of the following is the goal:

a)

Improving this year's sales training results by 7% over last year's results

b)

Improving this year's customer satisfaction by 7% over last year's ratings

c)

Improving this year's telemarketing skills by 7% over last year's skills

d)

Improving this year's proposal-writing by 7% over last year's writing

3.

Of the following, which is a strategy for the goal of increasing this year's website sales by 9% over last year's sales?

a)

Printing the web address on company business cards

b)

Including the web address in advertising

c)

Letting people know the web address

d)

Putting the web address on company vehicles

4.

Which of the following is a tactic for the strategy of training customer-service staff to reach the goal of improving this year's customer service by 15% over last year's:

a)

Scheduling customer-service training dates

b)

Improving the customer waiting area

c)

Increasing customer benefits

d)

Offering customers a payment plan

5.

A goal can be evaluated to determine its

a)

advantage.

b)

progress.

c)

success.

d)

benefit.

6.

Sawyer is a marketer who is planning his strategy. He most likely wants to choose a route that is

a)

reasonable.

b)

easy.

c)

straight.

d)

efficient.

7.

Which of the following is an important characteristic of marketing tactics:

a)

The tactics should support the marketing mix.

b)

The tactics should line up with marketing strategies.

c)

The tactics should focus on customers.

d)

The tactics should bring in enough money.

8.

A firm's strategy is important because it shows

a)

how its goal will be reached.

b)

how its prices will be lowered.

c)

how its tactics will be organized.

d)

how its marketing mix will be blended.

9.

To select the best strategy available to them, marketers should consider

a)

how to get their product into more customers' hands.

b)

how the marketing concept applies to their situation.

c)

resources needed to research and develop their product.

d)

when they want promotional messages delivered to customers.

10.

Franklin is a marketer who selects what he thinks is the best strategy. What should he do next?

a)

List the available resources

b)

Determine the final deadline

c)

Set aside the needed funds

d)

Apply the marketing concept

11.

Which of the following is the most likely obstacle for a marketer to encounter:

a)

A social media campaign might succeed.

b)

Profits might increase.

c)

A competitor might create an inferior product.

d)

Government regulations might change.

12.

Which of the following is the best description of the marketing mix:

a)

A combination of the four elements of marketing

b)

An element of marketing that puts a product in the right place at the right time

c)

A method of determining what a marketer wants to achieve

d)

A strategy that serves as a guide

13.

Which of the following questions might marketers ask when they are working on the product element of marketing:

a)

How much should the product cost?

b)

Where should the product be sold?

c)

What level of quality should be produced?

d)

What media should be used to promote the product?

14.

Which of the following things might a marketer do to achieve the company's pricing objective of raising the product's value in the customer's eye:

a)

Decide how to package the product

b)

Ask a higher price for the product

c)

Lower the product's price

d)

Order more of the product

15.

Balancing value and satisfaction for the customer is part of which element of marketing?

a)

Promotion

b)

Price

c)

Product

d)

Place

16.

Diana is deciding how much of a product to order and which firms to involve in the process. She is working on the ___________ element of the marketing mix.

a)

Promotion

b)

Price

c)

Product

d)

Place

17.

To get a selected product in the right place at the right time, marketers often ask themselves which of the following questions:

a)

Should we offer a warranty for our product?

b)

How should we package our product?

c)

Where should we make our product available?

d)

What forms of payment should we accept?

18.

Which element of marketing refers to the varuous types of communication that marketers use to inform, persuade, or remind customers of their products?

a)

Promotion

b)

Price

c)

Product

d)

Place

19.

If a marketer changes one marketing mix element, s/he should expect that the __________ will also change.

a)

strategy

b)

product quality

c)

goal

d)

other elements

20.

Before customizing the marketing mix, marketer should

a)

select the strategy.

b)

decide the price.

c)

choose the vendors.

d)

pick the product.

21.

Lexi has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Lexi is a

a)

market segment.

b)

resource.

c)

target group.

d)

market.

22.

To buy a product, customers in a market must first

a)

locate the product in a store.

b)

learn the product's features.

c)

make sure the product is on sale.

d)

be willing to buy the product.

23.

A target market can be described as the

a)

sample of the market.

b)

group of customers the business seeks to attract.

c)

direction the market is headed.

d)

way a business draws its customers.

24.

When examining a market, marketers primarily notice its

a)

records.

b)

leaders.

c)

categories.

d)

merchants.

25.

Ebert's Musical Instruments has determined that it will focus its marketing efforts on senior high school students. Ebert's is engaged in ___________ marketing.

a)

mass

b)

risky

c)

target

d)

industrial

26.

The same person can be included in more than one

a)

religion.

b)

income level.

c)

generation.

d)

target market.

27.

When using mass marketing, marketers seek to appeal to the ___________ market.

a)

entire

b)

local

c)

loyal

d)

teen

28.

When sellers offer one-size-fits-all products that will appeal to most buyers, they are using

a)

mass production.

b)

market segmentation.

c)

mass marketing.

d)

demographic segmentation.

29.

Market segmentation is about dividing the market into ___________ groups.

a)

specific

b)

identical

c)

general

d)

age

30.

When the total market is divided, one of its groups is called a market

a)

share.

b)

slice.

c)

segment.

d)

subdivision.

31.

The Thompson Company decided it would be more successful if it divided the total market for its products into smaller, more specific groups of consumers. This business is engaged in:

a)

mass marketing.

b)

industrial marketing.

c)

market domination.

d)

market segmentation.

32.

Mass marketing is not as precise as ___________ marketing.

a)

direct

b)

segment

c)

promotional

d)

event

33.

Today's customers are not influenced by mass marketing alone because they are more

a)

discerning.

b)

decisive.

c)

determined.

d)

disciplined.

34.

Marketers divide their markets by grouping customers according to their

a)

differences.

b)

hobbies.

c)

occupations.

d)

similarities.

35.

Sorting customers by their physical and social characteristics is called ___________ segmentation.

a)

psychographic

b)

demographic

c)

behavioral

d)

statistical

36.

The community college has decided to market its evening classes to women between the ages of 18 and 30 who are high school graduates. What type of segmentation is the college using?

a)

Geographic

b)

Demographic

c)

Behavioral

d)

Psychographic

37.

The customer characteristic that reflects where customers fit in the day-to-day buying routine is known as

a)

socioeconomic status.

b)

origin or heritage.

c)

personal belief.

d)

life stage.

38.

Geographic segmentation is dividing a market by where customers are

a)

working.

b)

born.

c)

living.

d)

educated.

39.

When marketers sort customers psychographically, they divide them by

a)

likable traits.

b)

loyalty to a brand.

c)

level of education.

d)

lifestyle habits.

40.

Jackie is interested in predicting what special events result in higher demand for chocolate candy. She should conduct behavioral segmentation based on

a)

occasion response.

b)

rate of use.

c)

benefits derived.

d)

loyalty response.

41.

Which of the following is a requirement for good decision-making?

a)

A college degree

b)

Money

c)

Data

d)

At least three options

42.

Which of the following is not a common type of data used by marketers?

a)

Quote

b)

Prediction

c)

Estimate

d)

Fact

43.

Which of the following is an example of a fact?

a)

The economy should get better during the next decade

b)

Valentine's Day is February 14

c)

It could cost up to $20 million dollars to launch a new product

d)

Junior year will be harder than sophomore year

44.

Logan is getting ready to start college. Though he knows that the figure could change over time, he guesses that four years in school will cost him around $65,000. This is an example of a/an...

a)

Quote

b)

Sales report

c)

Estimate

d)

Fact

45.

The following is an example of a prediction

a)

About half of the businesses customers are female

b)

The business owes $200,000 in taxes

c)

Sales will be up 4% next quarter

d)

Sales were up 4% last quarter

46.

Which of the following is an example of data that marketers could gather from the company sales team?

a)

The latest market research studies

b)

The prices of raw materials

c)

What products competitors are currently offering

d)

How actual sales compare to sales goals

47.

Which of the following pieces of data give a wealth of information about the customer?

a)

A trade journal

b)

A sales invoice

c)

An expense report

d)

A sales report

48.

A piece of easily observable data about a competitor is its

a)

Current promotional campaign

b)

Products in development

c)

Sales reports

d)

Future plans

49.

The best source for data about the goods and services a company needs to buy for its own operation is its:

a)

Vendors

b)

Sales team

c)

Customers

d)

competitors

50.

Which of the following is an example of a trade journal

a)

Newsweek

b)

People

c)

AutoParts Report

d)

USA Today

51.

Having appropriate data helps marketers set goals that are

a)

Open ended

b)

Realistic

c)

General

d)

Difficult

52.

Which of the following is a product strategy that marketers devise using available data

a)

Where to sell the product

b)

What advertisements to run

c)

How much to charge

d)

What level of customer service to provide

53.

Marketers use data to determine pricing strategies such as

a)

How much to spend on advertising

b)

How much of the product to create

c)

Went to offer a discount on the product

d)

What products to offer

54.

Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall

a)

Place strategy

b)

Promotional strategy

c)

Product strategy

d)

Pricing strategy

55.

Which of the following is a place strategy that marketers devise using available data?

a)

How much of the product to create

b)

What level of customer service to provide

c)

Went to change the products price

d)

What market segment to target

56.

Marketers must use data to estimate cost for projects and allocate funds appropriately. This is known as:

a)

Distributing

b)

Promoting

c)

Pricing

d)

Budgeting

57.

Which of the following is a way that marketers can use data to follow-up on any problems or issues with the product

a)

Determining what new products to offer

b)

Deciding what wholesalers to use for distribution

c)

Providing sales people with additional training

d)

Budgeting for product development

58.

Data obtained from negative outcomes can help marketers to

a)

Avoid making the same mistakes in the future

b)

Increase profits

c)

Create SMART goals

d)

Analyze sales reports effectively

59.

Which of the following is a true statement about the wise use of available data

a)

It increases market share

b)

It doubles a businesses profits

c)

It increases employee satisfaction

d)

It creates more satisfied customers

60.

Using data wisely can help the company save money by

a)

Spending more money

b)

Running more efficiently

c)

Hiring fewer employees

d)

Eliminating the competition