Marketing Mid Term Q and A

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School

Keiser University *

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Course

MAR1011

Subject

Marketing

Date

Feb 20, 2024

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docx

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Uploaded by HighnessOxideAlpaca23

Review Test Submission: Midterm Exam Instruction s This exam consists of 25 multiple-choice questions from chapters 1 - 7. You have two hours to complete the exam. Once you begin the exam, you may save it, exit, and come back to complete it later. You must complete it within one session. Good luck! Results Displayed Submitted Answers, Correct Answers, Feedback  Question 1 4 out of 4 points According to the five-step model of the marketing process, the first step in marketing is ________. Selected Answer: understanding the marketplace and customer needs and wants Correct Answer: understanding the marketplace and customer needs and wants  Question 2 4 out of 4 points Which of the following is a difference between the marketing concept and the selling concept? Selected Answer: The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products. Correct Answer: The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.  Question 3 4 out of 4 points ________ refers to working closely with people inside and outside the company to jointly bring more value to customers. Selected Answer: Partner relationship management Correct Answer: Partner relationship management  Question 4 4 out of 4 points A customer who is both loyal and profitable is referred to as a ________. Selected Answer: true friends Correct Answer: true friends  Question 5 4 out of 4 points

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________. Selected Answer: stars Correct Answer: stars  Question 6 4 out of 4 points A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________. Selected Answer: market penetration Correct Answer: market penetration  Question 7 4 out of 4 points Which of the following best describes market segmentation? Selected Answer: dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors Correct Answer: dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors  Question 8 4 out of 4 points When viewing the market from a buyer's point of view, "communication" corresponds to the ________ component of the marketing mix. Selected Answer: promotion Correct Answer: promotion  Question 9 4 out of 4 points Which of the following has the primary function of helping a company target and promote its products to the right markets? Selected Answer: Marketing services agencies Correct Answer: Marketing services agencies

 Question 10 0 out of 4 points Which of the following is most likely categorized as a business market? Correct Answer: firms that buy goods and services for further processing  Question 11 4 out of 4 points Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company. Selected Answer: economic Correct Answer: economic  Question 12 0 out of 4 points Which of the following is true of a good marketing information system? Correct Answer: It balances the information that a firm would like to have against what they really need.  Question 13 4 out of 4 points Which of the following is an advantage of primary data? Selected Answer: They are more relevant than secondary data. Correct Answer: They are more relevant than secondary data.  Question 14 4 out of 4 points Which of the following is true of focus group discussions? Selected Answer: Consumers are not always honest and open about their opinions. Correct Answer: Consumers are not always honest and open about their opinions.  Question 15 4 out of 4 points

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________ are the most affluent and brand conscious demographic segment in the United States. Selected Answer: Asian Americans Correct Answer: Asian Americans  Question 16 4 out of 4 points Which of the following is the first stage of the buyer decision process? Selected Answer: need recognition Correct Answer: need recognition  Question 17 4 out of 4 points In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense? Selected Answer: evaluatio n Correct Answer: evaluatio n  Question 18 4 out of 4 points In a straight rebuy, a buyer ________. Selected Answer: reorders something without any modifications Correct Answer: reorders something without any modifications  Question 19 4 out of 4 points Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy? Selected Answer: market segmentation, market targeting, differentiation, and positioning Correct Answer: market segmentation, market targeting, differentiation, and positioning

 Question 20 4 out of 4 points Market segments that can be effectively reached and served are said to be ________. Selected Answer: accessible Correct Answer: accessible  Question 21 4 out of 4 points Which of the following is true of product positioning? Selected Answer: To simplify the buying process, consumers are likely to position products in their minds. Correct Answer: To simplify the buying process, consumers are likely to position products in their minds.  Question 22 4 out of 4 points ________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible. Selected Answer: Services Correct Answer: Services  Question 23 4 out of 4 points Which of the following is most likely a true statement about shopping products? Selected Answer: Shopping products are purchased less frequently than convenience products. Correct Answer: Shopping products are purchased less frequently than convenience products.  Question 24 4 out of 4 points Lengthening a product line beyond its current range is referred to as product line ________. Selected Answer: stretching Correct Answer: stretching  Question 25

4 out of 4 points Service variability means that ________. Selected Answer: service quality depends on when, where, and how they are provided Correct Answer: service quality depends on when, where, and how they are provided

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Marketing Mid Term Q and A

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