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WorksheetsMarketing Quiz
Total questions: 40
Worksheet time: 8mins
When referring to “exchange,” marketers are focusing on:
Location where products and services are traded.
Price charged adjusted for currency exchange rates.
The trading of things of value
Creating value.
Being socially responsible is generally considered ____________________.
Beyond the norms of corporate ethical behavior.
A good thing to do only when a company is profitable.
Inappropriate for most firms in today's market.
Corporate foundations who can effectively concentrate a firm's philanthropy.
Marketers to _______________ income groups attempt to create value by offering one-of-a-kind products and exclusive services.
Middle
Upper
Lower-middle
Lower
Based on the BCG portfolio analysis, products in low-growth markets that have received heavy investments and now have excess resources to spin off are:
Stars
Cash cows
Question marks
None of the above
Of the five steps to the strategic marketing planning process, which step usually comes in the MIDDLE of the process?
Situation analysis
Define the business mission.
Evaluate performance
Identifying and evaluating opportunities.
To become value driven, firms:
Balance relationships with customers beyond thinking about individual transactions
Share information across the entire organization about customers and competitors
Balance benefits with costs to create value for customers
All of the abobe
Firms use _______________ to collect, and synthesize information about their position with respect to their rivals.
Regional regression analysis.
Demographic data.
Competitive intelligence
Macroeconomic variable analysis
The center of all marketing efforts is:
Profits
Corporate social responsibility
The consumer
Scenario planning
The marketing goal of getting the "right quantities to the right locations, at the right time" is:
Capturing value.
Creating value.
Communicating the value proposition.
Supply chain management
Though Asian Americans comprise only 3 percent of the U.S. population, they represent:
The fastest growing minority population
The easiest minority group to access.
A large proportion of the minority in the Southeast.
A uniform group of consumers with a common language and cultural background.
Marketers need to include blogs in the marketing plans because:
They are important media vehicles for advertising.
They can gain important feedback on products and product uses.
Everyone else is doing it.
Only younger Internet users blog, but these are an important audience.
Marketers have learned that gender roles:
Require firms to avoid gender neutrality.
Are a constant cultural norm.
Have been blurred.
All of the above
The evolution of marketing progressed along the continuum:
Production, sales, marketing, value-based marketing
Sales, marketing, value-based marketing, production
Marketing, value-based marketing, production, sales
Value-based marketing, production, sales, marketing
Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase _________ marketing.
B2C
C2C
B2B
A2C
Franco uses a database software system to remind him when his customers should be ready to re-order his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be “in the buying mode.” Franco’s system is part of:
Customer relationship management
C2C marketing
A transactional marketing orientation.
Supply chain retail simplification system.
Which of the following is not true about marketing?
Marketing makes life easier.
The growth of the internet means that marketing will diminish in importance and impact as customers interact directly with the firms
Marketing establishes a price that is affordable to the customers while covering the costs of the features and benefits and providing a reasonable profit for the company.
Marketing adds value to the products and services you use and buy.
Improved computer storage capabilities, and the manipulation of consumer information has increased consumers’:
Access to competitive intelligence.
Green marketing preferences.
Privacy concerns.
Technological comfort.
Charges that firms are using "sweatshop" labor to produce their products are likely to occur during the ___________________ phase of the strategic marketing planning process.
Control stage
Evolution stage
Planning stage
Implementation stage
During which phase of the strategic marketing plan would the firm address the question of, “Is the firm prepared to support the development of an ethical climate?”
Implementation.
Evaluation.
Control.
Planning
The firms that work along with the focal firm to provide goods and services to consumers are viewed as:
Cultural monitors
Competitive intelligence
Corporate partners
The macroeconomic environment
________________ is communication by a marketer that informs, persuades, and reminds potential customers.
Promotion
Pricing
Placement
Pork barreling
In ________________ pricing, the firm first determines the perceived worth of the product from the customer's point of view and then prices accordingly.
Product-based
Competitor-based
Value-based
Cost-based
Firms achieve ___________ through efficient procedures and excellent supply chain management.
Operational excellence
Strategic acceptance
Customer loyalty
Relative market share
The "key" task in the _______________ phase is to ensure that all potential ethical issues raised in the planning process have been addressed and that all employees of the firm have acted ethically.
Planning
Implementation
Control
Evolution
The four Ps comprise the marketing mix, which is the ______________ set of activities that the firm uses to respond to the wants of its target markets.
Reversible
Controllable
External
Global
Value is:
The lowest cost option.
Represented by brand names.
The highest priced alternative.
What you get for what you give
Competitive intelligence activities are likely to include any of the following EXCEPT:
Observing competitor's stores.
Interviewing customers.
Reviewing court records.
Paying auditing companies for previews of competitor's quarterly statements.
When marketers look at advertising media they often begin with viewer or listener profiles such as, age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using _____________ to see if the media “fits” with their advertising agenda.
Regional culture
Country culture
Demographics
Macromarketing measures
Corporate social responsibility (CSR):
Is becoming more prevalent
Covers a wide range of activities beyond philanthropic and community-based activities, including marketing, sales and production.
Is one criterion for determining whether a firm should be included in most-admired company rankings.
Is a voluntary activity
The basic difference between a good and a service is a good:
Can be physically touched
Provides intangible benefits.
Generates greater interest among consumers
Depreciates more rapidly in the minds of consumers.
What is the production possibilities curve?
a graph that shows how much an economy can produce between 2 goods
how much money something is
the opportunity one has to give up in order to gain something else
land, labor, capital, entrepreneurs
What is the fundamental problem of every society?
labor costs
scarcity
economic interdependence
market fluctuation
Opportunity Cost is best defined as
the value of the next best alternative that is given up due to the choice you made
The price you pay to purchase something
The benefit you gain by making a decision
The amount of debt you take on by making a decision
Any resources that are made by humans and used to create other goods and services are called
Services
Production
Capital
Labor
Land, Labor, Capital, and Entrepreneurship
Diversification
Deductions
Portfolio
Factors of Production
Max is studying for his spelling test. Unfortunately, his favorite TV program is on right now. If he studies for the test, he will miss watching the show. Max decides to study for his test instead of watching TV. What is the opportunity cost of his decision?
studying for a test
watching TV
Passing his test
Talking to his friends
If a point lies on the curve this means the company is being efficient. If a point lies inside the curve, this tells the company what?
They are being over efficient
They are not efficient
It is impossible
None of the above
What does point B represent?
Production at greater than the country's minimum potential
Production is less than the country's minimum potential
Production is greater than the country's maximum potential
Production at the country's maximum potential
What does point Y represent on the PPC?
Efficiency
Unattainable / impossible
Inefficency
Nothing
In a command economy, who holds power over the economy?
The people
The government
Beyonce
The traditions of your ancesetors
