Sunday, July 19, 2015


1. Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources?
a) Marketing intelligence
b) Marketing research
c) Customer profiles
d) External databases
e) Internal databases

2. Banks selling Insurance and Mutual funds is:
a) A relatively high level of diversification
b) An example of product diversification
c) Unlikely to reduce variability in the firm's profitability since the banks are all in same business
d) An example of related linked diversification
e) None of the above

3. An ideal marketing framework is designed to address three key management questions. Which of
the following is one of those questions?
a) Value Proposition - i.e. How can value propositions be made profitable?
b) Value chain - i.e. Are there weak links in the company's value chain?
c) Value network - i.e. How can a company effectively network?
d) Value exploration – i.e. How can a company identify new value opportunities?
e) All of the above

4. The biggest or greatest amount of involvement in a foreign market comes through which of the following?
a) Exporting
b) Joint venturing
c) Licensing
d) Indirect investment
e) Direct investment

5. A strategy wherein A "three-day cooling off period" in which buyers can cancel a contract after rethinking
it is to protect the consumer is called:
a) creative selling
b) high pressure selling
c) detail selling
d) hard core selling
e) detail hard core selling

6. The last stage in the selling process is:
a) Approach
b) Handling objections
c) Closing
d) Follow –up
e) None of the above

7. The more direct connections among businesses, the more ____ is the relatedness of the
a) linked
b) constrained
c) integrated
d) intense
e) None of the above

8. _____ are products bought by individuals and organizations for further processing or for use in conducting a business.
a) Consumer products
b) Services
c) Industrial products
d) Specialty products
e) None of the above

9. All of the following would be forces that might be contained in a company’s microenvironment EXCEPT:
a) Economic forces
b) The company itself
c) Marketing channel firms
d) Suppliers
e) Dealers

10. Which of the following elements of marketing mix customer analyzes at the last, taking a decision of buying a particular product?
a) Promotion
b) Place
c) Price
d) Product
e) People

11. Which of the following is a value-reducing reason for diversification?
a) Enhancing the strategic competitiveness of the entire company
b) Expanding the business portfolio in order to reduce managerial employment risk
c) Gaining market power relative to competitors
d) Conforming to antitrust regulation
e) None of the above

12. _____ is the set of benefits a company promises to deliver its consumers to Satisfy their needs.
a) A money-back guarantee
b) An attribute
c) A value proposition
d) Good customer service
e) None of the above

13. When backed by buying power, wants become _____.
a) Demands
b) Social Needs
c) Exchanges
d) Self-Esteem needs
e) Social exchanges

14. The type of sales presentation approach that requires good listening and problem-solving skills is:
a) Canned approach
b) Formula approach
c) Need-satisfaction approach
d) Critical-thinking approach
e) All of the above

15. Marketing research firms, advertising agencies, and media firms would all be examples of which
of the following marketing intermediaries?
a) Financial intermediaries
b) Physical distribution firms
c) Marketing service agencies
d) Resellers
e) None of the above

16. If a company's objective were to reach masses of buyers that were geographically dispersed at a low
cost per exposure, the company would likely choose which of the following promotion forms?
a) Advertising
b) Personal selling
c) Public relations
d) Sales promotion
e) Marketing

17. The purchasing of firms in the same industry is called:
a) Unrelated diversification
b) Vertical integration
c) Networking the organization
d) Horizontal acquisition
e) None of the above

18. Which of the following is a disadvantage of primary market research?
a) Up to date
b) Expensive to collect
c) Focused
d) Exclusive
e) Inclusive

19. Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel and athletic shoes and equipment spend a great deal of time trying to establish a superior brand
image in markets is called _____.
a) Business markets
b) Global markets
c) Consumer markets
d) Nonprofit and governmental markets
e) Dealer markets

20. If a consumer describes a car as being the "most economical car on the market," then this descriptor
is a:
a) Rule
b) Attitude
c) Belief
d) Clue
e) Praise

21. Through _____, many companies today are strengthening their connections to all partners, form
providers of raw materials to components to final products that are carried to final buyers.
a) Partnership relationship marketing
b) Customized marketing
c) Direct marketing
d) Deviated marketing
e) Indirect marketing

22. Wal-Mart owned Sam's club is an example of a retail form called a(n):
a) factory outlet
b) super specialty store
c) seconds store
d) warehouse club
e) All of the above

23. The typical method of retail operation used by supermarkets and catalog showrooms is called:
a) Self-service retailing
b) Limited-service retailing
c) Full-service retailing
d) Service-merchandiser
e) None of the above

24. Using a successful brand name to introduce additional items in a given product category under the same brand name (such as new flavors, forms, colors, added ingredients, or package sizes) is called a(n):
a) Line extension
b) Brand extension
c) Multi-branding
d) New brands
e) None of the above

25. In terms of special product life cycles, a ____ is a basic and distinctive mode of expression.
a) genre
b) style
c) fashion
d) fad
e) shape

26. Customers buy from stores and firms that offer the highest ____
a) Customer perceived value
b) Concern form society’s interests
c) Company image
d) Level of customer satisfaction
e) Product quality

27. ____ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics,
or behavior that might require separate products or marketing mixes.
a) Product differentiation
b) Market segmentation
c) Market targeting
d) Market positioning
e) Market differentiation

28. A(n) _____ is a retail store that carries a narrow product line with a deep assortment within that line.
a) shopping goods store
b) convenience store
c) specialty store
d) department store
e) None of the above

29. _____ is a strategy of using a successful brand name to launch a new or modified product in a new category.
a) Duo branding
b) Line extension
c) Brand extension
d) Multi-branding
e) Single branding

30. Minimizing pollution from production and all environmental impacts throughout the full Product life cycle is called _____
a) Design For Environment (DFE)
b) Green Marketing
c) Environmental Sustainability
d) Product Stewardship
e) Red Marketing

31. The product concept says that a company should:
a) Devote its energy to making continuous product improvements
b) Make promoting products the top priority
c) Market only those products with high customer appeal
d) Focus on the target market and make products that meet those customers' demands
e) All of the above

32. What went wrong with Coke in 1985?
a) Management defined its marketing research problem too narrowly
b) The research looked only at taste and not feeling about dropping the old Coke
c) No account of intangibles was taken
d) All of the above
e) None of the above

1) e; 2) b; 3) d; 4) e; 5) b; 6) d; 7) b; 8) c; 9) a; 10) a;
11) b; 12) c; 13) a; 14) c; 15) c; 16) a; 17) d; 18) b; 19) c; 20) c;
21) b; 22) d; 23) a; 24) a; 25) b; 26) a; 27) b; 28) c; 29) c; 30) b; 31) a; 32) d.