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Worksheets(BSBA-HRM2) MARKETING MANAGEMENT PRE-TEST 2022-2023
Total questions: 50
Worksheet time: 38mins
An activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
Market Segmentation
Market Value
Marketing Management
The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Marketing Management
Marketing
Market Value
Service Marketing
A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.
Marketing Management
Direct Marketing
Marketing
Service Marketing
a physical place where buyers and sellers gathered to buy and sell goods.
Physical Place
Market
Target Market
Place
an approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely affecting product performance.
Market Analysis
Product value analysis
Product benefit
Product Analysis
The amount that consumers will be willing to pay for a product.
Product
Place
Price
Promotion
What are the 4p's of marketing mix?
Product, Place, Process, & Promotion
Place, Price, Physical Evidence & Process
Product, Process, Price, & Persuasion
Promotion, Place, Price & Product
An offering that has value is much more than simply getting the product into the hands of the user; it is also making sure that the user understands how to get the most out of the product and is taken care of if he or she requires service later.
Delivery Offering
Cost Offering
External Offering
Product Offering
Some form of cheating or undersupply relative to an implicit or explicit contract.
Business Market Risk
Social Risk
Capital Market
Opportunism
Consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.
Market
Business market
Target Market
Direct Market
The product poses a threat to the physical well-being or health of the user or others.
Psychological Risk
Social Risk
Physical Risk
Functional Market
The failure of the product results in an opportunity cost of finding another satisfactory product.
Social Risk
Psychological Risk
Time Risk
Financial Risk
A marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action.
External Marketing
Marketing
Market Segmentation
Target market
refers to specific and thoughtful advertising that reaches the target market for the product.
Promotion
Physical Evidence
Process
Advertising
Describes the normal work of preparing, pricing, distributing, and promoting the service to customers.
Direct Marketing
External Marketing
Service Marketing
Internal Marketing
As a marketing professional, you are trying to decide the best way to distribute and deliver your product or service. You are thinking about which aspect of the marketing mix?
Place
Promotion
Product
Process
Lyle went into the store to purchase a pair of shoes. The shoes cost Php 599. Php 599 is an example of:
Price
Promotion
Product
Process
Which of the following statements about marketing is true?
It helps to build a loyal customer base but has no impact on a firm's intangible assets.
It is of little importance when products are standardized.
It is more important for bigger organizations than smaller ones.
It is seldom used by nonprofit organizations.
It can help create jobs in the economy by increasing demand for goods and services.
________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Strategic management
Knowledge management
Marketing management
Distribution management
Operations management
Identify the correct statement about marketing management.
It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy.
It focuses solely on attaining an organization's sales goals in an efficient manner.
It focuses mostly on monitoring the profitability of a company's products and services.
It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.
A social definition of marketing says ________.
marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
marketing is the process of extracting the maximum value from consumers to facilitate corporate growth.
marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer
.
effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers
a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products.
________ goods constitute the bulk of most countries' production and marketing efforts.
Impulse
Luxury
Durable
Physical
Intangible
As economies advance, a growing proportion of their activities focuses on the production of ________.
luxury goods
services
experiences
events
products
Car rental firms, hair dressers, and management consultants provide ________.
goods
experiences
events
services
information
Which of the following is true of business markets?
Products sold in such markets are usually highly standardized.
Property rights, language, culture, and local laws are the most important concerns.
Business buyers buy goods to make or resell a product to others at a profit.
Buyers have limited purchasing power.
Buyers are usually not skilled at comparing competitive product offerings.
A ________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
vertically integrated market
horizontally integrated market
metamarket
marketspace
synchronized market
________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.
Demands; wants
Needs; wants
Wants; needs
Needs; demands
Demands; needs
When Justy buys his own house, he would like to have a home theater system and a jacuzzi. He plans to save enough money in the next three years so that he can fulfill his wish. He desire for the home theater and the jacuzzi is an example of a(n) ________.
unstated need
latent demand
demand
want
need
The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
integration
segmentation
disintermediation
cross-selling
customization
During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________.
capital markets
target markets
tertiary markets
demographic markets
developing markets
________ reflects a customer's judgment of a product's performance in relation to his or her expectations.
Brand equity
Satisfaction
Value
Perception
Brand image
The value of an offering is described as ________.
the price consumers are charged for a product
the cost of manufacturing a product
the degree to which consumer demand for a product is positive
the sum of the tangible and intangible benefits and costs to customers
the intangible benefits gained from a product
The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
disintermediation
diversification
reduced competition
deregulation
privatization
The ________ process consists of analyzing marketing opportunities, selecting target markets, designing marketing strategies, developing marketing programs, and managing the marketing effort.
marketing planning
strategic planning
market research
opportunity analysis
operational management
Kotler and Casoline suggested eight factors that marketers must keep in mind in order to deal with risk and uncertainty. Which of the following statements are they most likely to agree with when the environment is uncertain?
Companies should push aggressively for the market share of their competitors.
Companies should focus less on their core segments, and more on new target markets.
Companies should be prepared to implement ad hoc strategies whenever required.
Companies should not increase marketing budgets in times of uncertainty.
Companies should focus and improve their marginal brands.
What are customer touch points?
all aspects of the offering that directly affect consumer preferences
all needs and wants of customers
all direct or indirect interactions between the customer and the company
all interactions between customers and competitors
all factors that affect buying behavior
Which of the following holds that consumers prefer products that are widely available and inexpensive?
the product concept
the production concept
the selling concept
the performance concept
the marketing concept
Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
shopping goods
unsought goods
necessary goods
luxury goods
complementary goods
The marketing concept holds that ________.
customers who are coaxed into buying a product will most likely buy it again
a new product will not be successful unless it is priced, distributed, and sold properly
consumers and businesses, if left alone, won't buy enough of the organization's products
a firm should find the right products for its customers, and not the right customers for its products
a better product will by itself lead people to buy it without much effort from the sellers
What are the four broad components of holistic marketing?
relationship, social responsibility, internal, and performance marketing
relationship, internal, position, and performance marketing
integrated, internal, position, and performance marketing
integrated, relationship, social responsibility, and position marketing
relationship, integrated, internal, and performance marketing
________ marketing aims to build mutually satisfying long-term collaboration with key constituents, such as customers, employees, suppliers, distributors, and other marketing partners, in order to earn and retain their business.
Demand-based
Integrated
Direct
Relationship
Internal
The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.
brand
supply chain
marketing network
value proposition
service channel
The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
selling concept
integrated marketing concept
social responsibility marketing concept
production concept
relationship marketing concept
Which of the following reflects the "people" component of the marketing mix?
the creativity, discipline, and structure brought to marketing management
the development of new products by the marketers
the firm's consumer-directed activities
the right set of processes to guide activities and programs within the firm
the internal marketing of the firm
________ activities include those the company undertakes to make the product accessible and available to target customers.
Channel
Marketing research
Segmentation
Line extension
New-product development
Donna owns a chain of fast-food joints. As the chain became more and more successful, she decided to contribute a share of her profits each year to support cancer research. This is an example of ________.corporate community involvement
corporate community involvement
environmental marketing
cause-related marketing
benefit marketing
responsible marketing
Financial accountability and social responsibility marketing are elements of ________.
relationship marketing
performance marketing
internal marketing
social marketing
mass marketing
Which of the four new Ps encompasses the old four Ps as well as a range of other marketing activities that might not fit well into the old view of marketing?
programs
processes
promotion
people
performance
At the heart of any marketing program is the firm's ________, its tangible offering to the market.
strategy
product
brand
value
people
Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.It has facilitated high-speed communication among employees.
It has facilitated high-speed communication among employees.
It has empowered consumers with easy access to information.
It can be used as a powerful sales channel.
It has facilitated mass marketing but not the sale of customized products.
It enables marketers to use social media to advertise their products.
