Unit 2 quiz 1
Question 1 Which of the following is most essential to any definition of marketing?
the production concept
making a profit
Question 2 When backed by buying power, wants become:
Question 3 The art and science of choosing target markets and building profitable relationships with them is called:
Question 4 Which of the following best explains why consumers have greater power and control in today's marketplace?
The production concept and competition have lowered prices.
Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.
Implementation of the product concept has resulted in continually improving products.
Customer-driven marketing creates goods and services that meet customers' future needs.
Question 5 The act of obtaining a desired object from someone by offering something in return speaks most closely to:
needs, wants and demands
value and satisfaction
Question 6 The set of benefits a company promises to deliver to its consumers to satisfy their needs is called:
a money-back guarantee
a value proposition
good customer service
Question 7 Each department in a company that carries out value-creating activities can be thought of as a link in the company's:
Question 8 The place a product occupies in the consumer's mind relative to competitors' products is termed:
Question 9 In the four P's of the marketing mix, design, packaging, services, and variety all fall under the category of:
Question 10 Instead of thinking of selling products, marketers would be wise to take the customer's view and think of:
initiating two-way communication
offering solutions to problems
Question 11 Regarding customer relationship groups, a long-term customer who has a very low contribution to overall profits is called a:
Question 12 A product with a low market growth rate and relatively high market share is known in the Growth-Share Matrix as a:
Question 13 If you want to sell new products to new markets, you are using a strategy called:
Question 14 Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched?
cultural and social
Question 15 Which of the following descriptions most accurately characterizes the baby boomers?
They are aging and slowing down.
They are a shrinking market for new housing and home remodeling.
They are past their peak earning and spending years.
They hold 70% of the country's financial assets.
They were largely unaffected by the recent recession.
Question 16 What is the first step in the marketing research process?
developing a marketing information system
defining the problem and research objectives
developing the research plan for collecting information
implementing the research plan
interpreting data and deciding on type of research
Question 17 Secondary data consists of information:
that already exists somewhere but is outdated
that does not currently exist in an organized form
that already exists somewhere but was collected for another purpose
that is used by competitors
that the researcher can only obtain through surveys and observation
Question 18 Companies who use brand ambassadors are using a specific technique called:
Question 19 Researchers found that a number of well-known brands tended to be strongly associated with one particular trait, such as JetBlue with "being human". Which of the following terms would a marketer use to describe a specific mix of traits that may be attributed to a particular brand?
Question 20 You are bringing out a new product and want to be sure to reach those customers who will influence the choices of others. Which group will you target to carry your message?
laggards and late mainstream customers
early mainstream and early adopters
innovators and early mainstream
early adopters and innovators