Marketing- test questions PDF

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1. Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and: Answer: the ability to buy them 2. Which of the following statements reflects the philosophy of the market oriented era: Answer: The customer is king 3. Jami sells construction equipment. Whatever she calls on her building contractor customers, she asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing? Answer: satisfying customer needs and wants 4. Many U.S companies first discovered marketing during the _______ era Answer: market- oriented 5. One of the benefits of the value-driven marketing is that attention to customer needs and wants will likely result in: Answer: long-term relationship 6. The marketing goal of getting the “right quantities to the right locations, at the right time” relates to: Answer: managing the supply chain 7. Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena most likely operates in the _______ era of marketing: Answer: value-based marketing 8. Which marketing activity is most served by the promotion element of marketing mix? Answer: communicating value 9. The importance of supply-chain management is often overlooked in the study of marketing because: Answer: many of the activities take place behind the scenes 10. Whenever Valerie has a new message therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering: Answer: information

11. Value creation through place decisions for a consumer product involves

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Answer: Making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to.

12. When Ramona, the keynote speaker at a major business leaders’ conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her 10-hour plane trip. The night clerk found someone to dry clean Ramona’s suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of - Answer: customer excellence 13. Some banks have begun offering special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth. But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize: - Answer: the lifetime value of customers. 14. One example of a customer loyalty program is - Answer: a “frequent diner” card at a restaurant, offering free appetizer for every $100 in food purchases. 15. 3M involves in customers in the process of developing new products. In this way, it can benefit from current customers’ insights and develop new products that will meet these customers’ needs. 3M is pursuing a ________ growth strategy. - Answer: product-development 16. When discussing the marketing planning process, STP stands for - Answer: segmentation, targeting, and positioning. 17. In recent years, cellular (mobile) service providers have worked hard to eliminate “dead zones”, providing customers with service wherever they travel. By working to make the network available in more locations, cellular-service companies are focusing on ________ value creation. - Answer: place 18. The idea of value-based marketing requires firms to charge a price that - Answer: captures the value customers perceive that they are receiving. 19. A regional manager at GNC, a chain of retail stores selling nutritional supplements, is reviewing sales data after a recent in-store promotion. The data show success in some stores and limited response in others. To understand the differences between stores, the manager will probably next review the company’s: - Answer: implementation programs, to see if the promotion was handled consistently in the different stores.

20. Most banks now have customer relationship software that, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a ____________ growth strategy. - Answer: market-penetration

21. It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today’s world of social media, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework? engage energize excite experience educate 22. The final step in the process of creating a social media campaign is to develop a budget. identify the target audience. set goals. design the elements of the campaign. monitor the program. 23. Marketers rely on three types of social media: social networking sites, thought-sharing sites, and software application sites. product review sites. corporate websites. media-sharing sites. social bookmarking sites. 24. YouTube is an example of which type of social media site? microblogging media sharing thought sharing social networking social bookmarking 25. Derek just posted an entry in his blog talking about how happy he is with his new GoPro camera. In the blog he also posted videos that he took with the camera. As a customer of the product, which facet of the 4E framework for social media is Derek most exhibiting? engagement

energizing excitement experiencing educating 26. For marketers, media-sharing sites such as YouTube or Flickr are social media tools best used to encourage customers to engage with the firm and experience its products. stimulate excitement. develop customer education and engage with other users. develop customer education. energize customers and stimulate excitement for its products. 27. While waiting to be seated at a restaurant, Joylee receives a customer loyalty coupon through an app on her mobile phone for half off a dessert with the purchase of an entrée. This use of a location-based software application is designed to promote which of the 4E framework objectives? engage energize excite experience educate 28. What is Google+? an experimental, advanced search engine a website where users can work together to create documents a site offering analytical information about website usage a social networking site a video-sharing site intended for business 29. Despite its vivid design, the website for Lolly’s Bookstore did not seem to attract customers who lingered. In fact, most website visitors left the site before they made a purchase. Which measure does the owner need to address? sentiment analysis page views bounce rates keyword analysis mobilization rates 30. Karlie likes to post pictures of fancy cupcakes and cookies on Pinterest. She also posts pictures of fun kitchen equipment in sherbet colors and lo for baking ideas and equipment. What type of social media site is Karlie using? microblogging media sharing

thought sharing social networking social bookmarking 31. When Bernie Ebbers, WorldCom’s CEO, was convicted of financial crimes. WorldCom was forced to merge with MCI. One of the ramifications of this merger was the loss of WorldCom’s sponsorship of the sea Pines heritage PGA golf tournament. The tournament funds the Heritage foundation a major community charity. This example illustrates The need to identify issues That the impact of unethical actions can reach far beyond the corporation That unethical firms cannot be socially responsible The lack of information needed to make ethical decisions 32. Denny is considering the question “did our actions have a negative impact on any stakeholder?” Denny is addressing marketing ethical issues in the _________ phase of the strategic marketing planning process. Planning Control Implementation Brainstorming Situation analysis 33. Which of the following does your text suggest as the reason different people have different ethical standards ? Some people focus only on their own personal goals Ethical standards depend on what level of the organization one works at Each individual is a product of his or her culture,upbringing and other influences Ethical behavior is directly linked to the amount of money one makes It is not clear why different people have different ethical standards 34. New real estate disclosure regulations require sellers and their agents to tell the prospective buyers about any existing problem with the property. Previously, they were expected only to answer buyers’ questions. The new regulation addressed the marketing ethical of High-pressure sales techniques Deceptives pricing tactics Misrepresentation of company data Misleading advertising Withholding information 35. Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs the primary stakeholders are the Shareholders Employees Customers Marketing managers

Competition 36. During the _______ phase of the strategic marketing planning process, ethical mission statements can serve as a means to guide a firm’s SWOT analysis Brainstorming Planning Implementation Control Revision 37. Anupam’s company manufacturers industrial ladders. He is concerned who do not understand ladder safety will purchase these extra tall ladders and injure themselves. During which phase of the strategic marketing planning process should the issue be addressed? Control Planning Implementation Design Ethics 38. Which of the following is not a question posed in the ethical decision-making metric? Would i want to see this action described on the front page of the local paper? Would this action help advance my career? Would the person i admire most engage in this activity? Can i give a clear explanation for my auction? Will i be able to look at myself in the mirror and respect what i see? 39. Many executives and corporate boards of directors do not perceive social responsibility as part of their mission or responsibility. These business leaders consider corporate social responsibility to be A basic requirement of any business The equivalent of the AMA ethical value “do no harm” The key to operational effectiveness A component of basic business ethics Beyond the norms of corporate ethical behavior

40. After a firm has identified the various stakeholders and their issues and gathered data related to an ethical decision-making situation all parties relevant to the decision should Engage in legal discourse Vote, with the majority deciding the best of action Re-identify the issues Choose a course of action Brainstorm for alternatives...