Free Printable chapter 1 and 2

1.

Which of the following is not one of the 4 Ps in the Marketing Mix?

a)

Promotion

b)

Product

c)

Place

d)

Packaging

2.

The types of activities a company uses to establish connections with specific customer segments is called:

a)

The Marketing Mix

b)

The Buying Cycle

c)

Customer Relationships

d)

Financial Modeling

3.

How many Parts are in the Marketing Mix?

a)

7

b)

8

c)

2

d)

4

4.

Include four basic marketing strategies called the 4Ps. They are

a)

place, price, product, purchase

b)

place, price, purchase, promotion

c)

place, price, promotion, product

5.

How the consumer gets the product

a)

Place/distribution

b)

Price

c)

Promotion

d)

Sales strategy

6.

The Marketing Concept is a Balance between ____________________________ and making a profit

a)

Finding out needs/wants

b)

Making a product

c)

Distribution

d)

Selling

7.

What is NOT a benefit of Marketing

a)

Information is provided to consumers

b)

Customers/businesses wasting money

c)

Businesses meet consumer wants and needs easier

d)

Supply is matched with Demand

8.

The process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers.

a)

Marketing

b)

Market Segmentation

c)

Mass Marketing

d)

Target Market

9.

Tangible items that have monetary value and satisfy your needs and wants such as cars, toys, furniture, televisions, clothing, and candy.

a)

Goods

b)

Services

c)

Marketing Ideas

d)

Foundations

10.

Intangible items that have monetary value and satisfy your needs and wants.

a)

Services

b)

Goods

c)

Ideas

d)

Foundations

11.

The group of people most likely to become customers and that is identified for a specific marketing program is the

a)

Target Market

b)

Group

c)

Customer Profile

d)

Market Group

12.

Marketing management orientations can be divided into

a)

2

b)

3

c)

4

d)

5

13.

Production orientation is

a)

Orientation that focuses on production

b)

Product oriented

c)

Focus is on continuous product improvements

d)

Focus on availability and high affordability

14.

Product orientation is

a)

Consumers will favor products that are available and highly affordable

b)

Consumers favor products that offer the most quality, performance, and features.

c)

Consumers will not buy enough of the firm’s products

d)

Know the needs and wants of the target markets and deliver the desired satisfactions better than competitors.

15.

Which orientation concept considers business, customers and society in the long-run?

a)

Marketing concept

b)

Production concept

c)

Societal concept

d)

Selling concept

16.

When backed by buying power, wants become ________.

a)

social needs

b)

demands

c)

physical needs

d)

self-esteem needs

17.

A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

a)

market offering

b)

value proposition

c)

brand positioning

d)

market segment

e)

market mix

18.

Marketing is managing profitable customer relationships.

a)

TRUE

b)

FALSE

19.

What is the primary focus of marketing?

a)

customer needs

b)

distribution of a product

c)

promotion of a product

d)

setting a price for your product that customers can afford

20.

Something necessary for survival, such as food, clothing, and shelter.

a)

business

b)

survival

c)

need

d)

want

21.

The SWOT Analysis

a)

A. is used to devise the marketing plan,

b)

B. includes Strengths and Weaknesses in an Internal analysis

c)

C. includes Opportunities and Threats in an external analysis

d)

All of the above

22.

An Executive Summary

a)

is written especially for the company's executive officers

b)

provides an overview of the marketing plan

c)

identifies the target market and describes the marketing mix

d)

details the plan's sales forecast

23.

Objectives should be

a)

realistic

b)

objective

c)

measureable

d)

all of the above

24.

What is the function of BCG Matrix?

a)

The development cycle of product

b)

Identify the relationship between products/services

c)

Produce a lot of money

25.

In the BCG (Boston Consulting Group) Matrix, a business that has a low market share in a industry characterized by high market growth is termed as

a)

Stars

b)

Question mark

c)

Dogs

d)

Cash cows

26.

What are the characteristic of dogs in BCG Matrix? You can choose more than one answer.

a)

Low market share

b)

High market share

c)

Low market growth

d)

High market growth

27.

Who is using the BCG Matrix chart?

a)

Boston Coorperation Group

b)

Boston Consulting Group

c)

Boston Company Group

28.

Which of the Boston Consulting Group Model (BCG Model) categories are being described here: A fast growing market leader.

a)

Star

b)

Cash Cow

c)

Problem Child/Question Mark

d)

Dog

29.

Which of the Boston Consulting Group Model (BCG Model) categories are being described here: a business unit that generates more cash than it needs to maintain its market share.

a)

Star

b)

Cash Cow

c)

Problem Child/Question Mark

d)

Dog

30.

Which of the Boston Consulting Group Model (BCG Model) categories are being described here: a business unit that has low growth potential and a small market share.

a)

Star

b)

Cash Cow

c)

Problem Child/Question Mark

d)

Dog

31.

Identifying internal strengths and weaknesses, and also examining external opportunities and threats

a)

Mission Statement

b)

SWOT analysis

c)

Environmental scanning

d)

Competitive advantage

32.

What are possible strategies for star product?

a)

The cash from this product can be used to milk and inject into some of other products in the portfolio

Maintain the cash cow for as long as possible

As the product has a strong presence in the market, businesses can even charge slightly higher prices to increase their profit margin

b)

Quick decision is needed if sales do not improve; revised design, re-launch or withdrawal from the market

Investment is needed to cope with expanding sales in a fast growing market

c)

Maintain the market position

So the business needs to invest in the product to cope with a growing market and growing sales – therefore promotion costs will be high to differentiate (through branding) the product and reinforce its brand image

Cash flow may be nearly zero because although profits will be high, bringing money in, spending will also be high leading to outflows

d)

Replace shortly

Withdraw from the market altogether

Re-positioning

33.

What are possible strategies for dog products?

a)

Quick decision is needed if sales do not improve; revised design, re-launch or withdrawal from the market

Investment is needed to cope with expanding sales in a fast growing market

b)

Maintain the market position

So the business needs to invest in the product to cope with a growing market and growing sales – therefore promotion costs will be high to differentiate (through branding) the product and reinforce its brand image

Cash flow may be nearly zero because although profits will be high, bringing money in, spending will also be high leading to outflows

c)

The cash from this product can be used to milk and inject into some of other products in the portfolio

Maintain the cash cow for as long as possible

As the product has a strong presence in the market, businesses can even charge slightly higher prices to increase their profit margin

d)

Replace shortly

Withdraw from the market altogether

Re-positioning

34.

What are possible strategies for cash cows?

a)

Replace shortly

Withdraw from the market altogether

Re-positioning

b)

Maintain the market position

So the business needs to invest in the product to cope with a growing market and growing sales – therefore promotion costs will be high to differentiate (through branding) the product and reinforce its brand image

Cash flow may be nearly zero because although profits will be high, bringing money in, spending will also be high leading to outflows

c)

Quick decision is needed if sales do not improve; revised design, re-launch or withdrawal from the market

Investment is needed to cope with expanding sales in a fast growing market

d)

The cash from this product can be used to milk and inject into some of other products in the portfolio

Maintain the cash cow for as long as possible

As the product has a strong presence in the market, businesses can even charge slightly higher prices to increase their profit margin

35.

What are possible strategies for question mark?

a)

Quick decision is needed if sales do not improve; revised design, re-launch or withdrawal from the market

Investment is needed to cope with expanding sales in a fast growing market

b)

The cash from this product can be used to milk and inject into some of other products in the portfolio

Maintain the cash cow for as long as possible

As the product has a strong presence in the market, businesses can even charge slightly higher prices to increase their profit margin

c)

Replace shortly

Withdraw from the market altogether

Re-positioning

d)

Maintain the market position

So the business needs to invest in the product to cope with a growing market and growing sales – therefore promotion costs will be high to differentiate (through branding) the product and reinforce its brand image

Cash flow may be nearly zero because although profits will be high, bringing money in, spending will also be high leading to outflows

36.

Staff members says that if you want a day-off from work you should order a hambuger from the Leisure Center’s cafeteria.

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

37.

We have a competition standard swimming pool; although it has no wave machines or additional equipment as do competing local facilities.

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

38.

There has been an important decrease in the birth rate over the last ten years.

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

39.

In general people are living longer and there are more local residents aged over fifty-five now than ever before.

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

40.

Objectives that are precise and quantifiable

a)

WAIT

b)

SMART

c)

CLEAR

d)

Tactics

chapter 1 and 2

Total questions: 40

Worksheet time: 32mins

Similar Resources on Wayground