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20 MCQs and True/False on Marketing

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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

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Solution Summary

This posting contains answers to 20 marketing MCQs and True/False

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True or False
2) _____reverse(s) the usual process of the first designing a new product determining it cost and then asking, "Can we sell it for that".
A)Target costing (B) Variable cost (C) Fixed cost (D) value pricing
3)According to the text the best positioning strategy is to de-emphasize_____ and use other marketing mix tools to create_____.
A)Target costing (B) Variable cost (C) Fixed cost (D) Value pricing
4) Dynamic pricing is charging different prices, depending on individual customers and situations
A)True or False
5)A marketing channel that has no intermediary level is called a(n)______.
A) indirect marketing channel (B)franchise (C) channel level (D) direct marketing channel
6) Stocking the product in as many outlets as possible is called ______
A) exclusive distribution (B) intensive distribution (C) selective distribution (D) disintermediation
7)When Nestle jointly sells General Mills cereal brands in the markets outside North America, Its an example of a(AN) ________
A)vertical marketing system(B) administered VMS (C) conventional marketing channel (D) horizontal marketing system
8) A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity is called a horizontal marketing system
A) True (B) false
9)_____ are corporations that combine several different retailing forms under central ownership.
A) corporate chain stores B)voluntary chains (C) merchandising conglomerates (D) retail cooperatives
10) T.J Maxx and Marshalls are example of ____ either owned and run by entrepreneurs or division of larger retail corporations.
A)Factory outlet stores (B) discount stores (C) independent off price retailer(D) category killer stores
11) Ralph does not take title to goods. His main function is to facilitate buying and assisting in negotiation, for which he is paid a commission on the selling price. Ralph is a ______
A)Broker or agent (B) drop shipper (C) rack shopper(D) cash and carry wholesaler
12)_____ includes building good relations with the company's various public by obtaining favorable publicity, building up a good corporate image , and handling or heading off unfavorable rumors stories and events
A) personal selling (B) advertising (C) direct marketing (D) public relations
13)Under a ______ strategy the producer direct its marketing activities toward final consumers to induce them to buy the product
A)push (B) pull (C) promotion (D) marketing
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15) A freestanding insert in the Sunday edition of The New York Times containing a coupon offering $1 off Chock-Full-o-Nuts coffee is an example of ___
A) advertising (B) direct marketing (C) public relations (D) sales promotion
16)_____ is the interpersonal arm of the promotion mix
A) advertising (B) personal selling (C)sales promotion (D) direct marketing
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A) TV commercial (B)radio commercial (C) infomercials (D) spam mail
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24)The wheeler -lea act was enacted giving the ___ power to regulate unfair or deceptive acts or practices
25) During the consumer movement of the early 1900's Ralph Nader appeared on the scene to the force many issue.
A. True (B) False

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