20 MCQs and True/False on Marketing

1. Marketing:
_____a. should begin with the production process.
_____b. is defined as the advertising and selling process.
_____c. should anticipate potential customer needs or wants.
_____d. means selling whatever products are easy to produce.

2. In advanced economies, marketing costs about 20 cents of each consumer dollar.

_______True _______ False

3. A company focused on rushing a new product to market in order to take advantage of the company's exiting materials and capabilities is operating with a marketing orientation.
_______True _______ False

4. The marketing concept means that an organization aims all its efforts at satisfying its customers?at a profit.

_______ True _______ False

5-9. Put a "P" if it pertains to Production Orientation and "M" if it pertains to Marketing Orientation.
_____ a. Customer needs determine company plans.
_____ b. The company sells what it can make.
_____ c. If we build a Web site, customers will flock to us.
_____ d. Profit is a critical objective.
_____ e. Eliminate costs that do not give value to customer.

10. Retaining current customers is usually more costly than winning them away from competitors.

_______True _______ False

11. A target market:
_____ a. is a production oriented approach.
_____ b. responds to a "one size fits all" marketing mix.
_____ c. is a fairly homogeneous (similar) group of customers to whom a company
wishes to appeal.
_____d. is limited to small market segments.

12. Mass marketing strategy assumes that all customers are the same and the market is fragmented.

_______True _______ False

13. The acronym SWOTT stands for:

_____ a. Strategy, Work-in-progress, Opportunities, Technology, Trends
_____ b. Strengths, Weaknesses, Opportunities, Trends, Threats
_____ c. Strategy, Wealth, Organization, Technology, Training
_____ d. Strengths, Weaknesses, Opportunities, Threats, Trends
_____ e. Strategic Work Options To Target

14. Target marketers believe that ____________ should be the focus of all business and
marketing activity.

_____ a. Products
_____ b. Customers
_____ c. Budgets
_____ d. Distribution channels
_____ e. Advertising mediums

15. The marketing research process is a five-step application of the scientific method that includes:

_____ a. Defining the problem, analyzing the situation, getting problem-specific data,
interpreting the data, and solving the problem
_____ b. Defining the target market, analyzing the customers, getting survey feedback,
interpreting the data, and launching the marketing campaign
_____ c. Defining the marketing campaign goals, analyzing the product features, analyzing
the situation, getting budget approval, and launching the marketing campaign
_____ d. Defining the problem, conducting surveys, analyzing survey feedback, interpreting
the data, and changing product attributes
_____ e. Defining company goals, analyzing customers, analyzing products, conducting
interviews, and changing product attributes

16. The difference between primary and secondary research is:

_____ a. Primary research consists of one-on-one interviews while secondary research is done
in a group setting
_____ b. Primary research data sources come from observation and questioning while
secondary research data sources come from both inside and outside of the company

_____ c. Primary research data is qualitative while secondary research data is quantitative
_____ d. Primary research is based on focus group interviews while secondary research is based
on one-on-one interviews
_____ e. Primary research is less expensive but more time consuming

17. It is expected that by the next 25 years the population of U.S. seniors will:
_____ a. more than double
_____ b. be cut in half by the avian flu epidemic
_____ c. will remain the same
_____ e. will increase by about 10 percent.

18. The buyer decision process consists of three stages: evaluation of alternatives, purchase decision, and postpurchase behavior.

_______True _______ False

19. The following are all factors affecting a firm's decision to pursue market segmentation strategy except:
_____ a. Similarity of customer needs, attitudes, and buying behavior
_____ b. Firm's resources
_____ c. Nature of competition
_____ d. Homogeneous markets
_____ e. Size of target markets

20. The Internet has impacted marketing research in all of the following ways except:

_____ a. It is easier and faster to locate secondary data

_____ b. Research data found on the Internet is more reliable than other sources

_____ c. Primary research data can be obtained directly from some business processes
_____ d. It is less costly to locate secondary data
_____ e. In some cases it may be less costly to obtain primary data