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Chapter 2 Marketing

Total questions: 38

Worksheet time: 19mins

Name
Class
Date
1.

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

2.

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

3.

The PEST analysis

a)

is the scanning of the outside influences on an organization.

b)

does not add appreciation of opportunities and threats

c)

seldom considers events such as recession or job creation

d)

concentrates on the company's advertising promotion

4.

Socio-cultural factors

a)

looks at changes in customer attitudes, lifestyles and opinions

b)

is the study of the factors that affect marketing strategies

c)

are based around the company's mission statement

d)

All of the above

5.

Objectives should be

a)

realistic

b)

objective

c)

measureable

d)

all of the above

6.

An effective marketing strategy

a)

identifies target mix and sets marketing mix

b)

should be focused on key points of difference

c)

offers a competitive advantage that makes companies successful

d)

All of the above

7.

The process of classifying people who form a given market into even smaller groups is

a)

market segmentation

b)

a marketing concept

c)

demographics

d)

pychographics

8.

An example of local geographic segmentation is

a)

a family-owned pizza restaurant in a small town

b)

a chain of three carpet stores in a large city

c)

a crawfish distribution company that concentrates sales in Louisiana

d)

a company selling the most popular smart phone uses the same ads around the world

9.

The analysis of customer interests, personalities and values is termed

a)

Geographics

b)

Psychographics

c)

Demographics

d)

Biographics

10.

The part of the marketing plan that outlines the projection of probable future revenue in units or dollars is the

a)

performance standard

b)

sales forecast

c)

marketing strategy

d)

competitive advantage analysis

11.

Ajax Vacuum Company designed a 30 minute television spot to sell its new vacuum cleaner. It will air nationwide. This is an example of

a)

market segmentation

b)

mass marketing

c)

SWOT analysis

d)

implementation

12.

The state of the ____________________ shapes both business costs and consumer spending.

a)

Union

b)

Government

c)

Economy

d)

Address

13.

Money left after taking out taxes is called

a)

Discretionary income

b)

Disposable income

c)

Profit

d)

Gross wages

14.

Which U.S. ethnic population is declining, relative to other ethnic populations?

a)

Caucasian

b)

Hispanic

c)

African American

d)

Asian American

15.
Businesses can use database technology to provide products to a specified target market. 
a)
True
b)
False
16.

Separating large groups into smaller, precise groups based on characteristics

a)

Market Segmentation

b)

Marketing Mix

c)

Demographics

d)

PEST analysis

17.
A marketing mix is a formal written document which directs activities for a specific time.
a)
True
b)
False
18.
In marketing, having a time frame will indicate if an objective has been reached.
a)
True
b)
False
19.
In the United States, the most rapidly increasing ethnic population is African-Americans.
a)
True
b)
False
20.
Eddie's Barbecue began marketing a new sauce that includes spices often found in Asian cuisine. How is the company segmenting its market?
a)
psychographics
b)
product benefits
c)
geographics
d)
demographics
21.
Which of the following purchases would most likely be made with discretionary income? 
a)
fruits and vegetables
b)
magazine subscriptions
c)
underwear and socks
d)
a three-bedroom house
22.
The Cracked Pot Potteryware company decided to sell its coffee mugs in the local espresso shops. What type of marketing decision was this?
a)
price
b)
place
c)
promotion
d)
product
23.
Red River Music Company wants to send catalogs to music teachers, dancers and other music lovers. What type of data would be helpful in this endeavor? 
a)
demographic
b)
geographic
c)
psychographic
d)
product benefits
24.
When conducting a SWOT analysis, the internal aspect of the analysis is based on ______________.
a)
sales, advertising, and promotions.
b)
the company's strengths and weaknesses.
c)
political, economic, socio-cultural, and technological factors.
d)
market research findings.
25.
To direct the marketing activities of a company, communicate its goals, objectives, and strategies, as well as monitor its performance as you would _______________.
a)
conduct a SWOT analysis.
b)
conduct an environmental analysis.
c)
write a marketing plan.
d)
conduct marketing research.
26.
What term is used to describe people born between 1946 and 1964?
a)
the baby boom generation
b)
Generation X
c)
Generation Y
d)
Generation Z
27.
What do geographics, demographics, psychographics, and product benefits have in common?
a)
They are methods that can be used to segment a market.
b)
They are examples of mass-marketing approaches.
c)
They are terms used frequently in sales-oriented companies.
d)
They are unrelated to one another and therefore should not be used in combination to market a product.
28.
The three phases of the marketing process are
a)
directing, controlling, and evaluating.
b)
planning, implementation, and control.
c)
segmenting a market, targeting a group, and promoting a product.
d)
analyzing, performing. and evaluating.
29.
Segmenting the market based on product-related behavior involves looking at
a)
benefits desired, shopping patterns, and usage rates.
b)
personality and values.
c)
mass marketing opportunities.
d)
geographics and demographics.
30.
A combination of geographic, demographic and psychographic data about a group of people can be used to create a customer  ______________.
a)
segmentation
b)
profile
c)
analysis
d)
forecast
31.
The four basic marketing decisions are price, place, __________, and promotion.
a)
primary
b)
product
c)
project
d)
pride
32.
____ most appreciates advertising that includes sharp images, music, & irreverent humor.
a)
The Baby Boom Generation
b)
Generation X
c)
Generation Y
d)
Generation Z
33.
Expectations that reflect a marketing plans objectives is called a(n) __________ standard.
a)
performance
b)
productivity
c)
primary
d)
specific
34.
Information about the values and attitudes that shape consumers' lifestyles is called ________.
a)
geographics
b)
demographics
c)
psychographics
d)
product benefit
35.
A company's mission statement, quality of staff, experienced executives can be found in a ____.
a)
company performance
b)
company analysis
c)
company vision statement
d)
company balance sheet
36.
Political, economic, socio-cultural & technological are four areas that make up the __________.
a)

environmental scan (P.E.S.T.)

b)
marketing segmentation
c)
marketing mix
d)
three C's of marketing
37.
_____ is of interest to businesses because it shapes both business costs & consumer spending.
a)
The current state of the economy
b)
The well-being of the customer
c)
The financial condition of the business
d)
The disciplinary action in the school
38.
Dividing a total market into smaller groups of people sharing specific needs & characteristics is 
a)
marketing mix
b)
marketing segmentation
c)
marketing strategy
d)
mass marketing

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