Multiple choice questions on Marketing 1.

A ______________ might consist of a fast food item, a gourmet meal from a four-star restaurant, frozen pizza, a steak cooked at home, and a Slim-Fast Optima Shake. _____ a. product market _____ b. generic market _____ c. target market _____ d. marketing mix _____ e. segmented market 2. Positioning refers to how a company's marketing department thinks about proposed or present brands in a market. _______True _______ False 3. The following are all major stages of a product life cycle except: _____ a. Sales decline _____ b. Market maturity _____ c. Market Introduction _____ d. Market Implementation _____ e. Market Growth 4. Five levels of brand familiarity useful for strategy planning are: _____ a. generic, store-brand, national, regional and local _____ b. non-recognition, low recognition, moderate recognition, complete familiarity, and recognition by another name (e.g., store brand). _____ c. non-acceptance, acceptance, requested, logo-recognized, and generic preferred. _____ d. rejection, substituted, non-recognition, acceptance and preference. _____ e. rejection, non-recognition, recognition, preference, and insistence. 5. The correct steps in the new product development process are: _____ a. Idea generation, screening, idea evaluation, development, and commercialization _____ b. Idea creation, market research and development, and introduction of product _____ c. Product positioning, idea screening, evaluation, and commercialization _____ d. Idea screening, idea development, marketing research, and commercialization _____ e. Defining the product attributes, defining the positioning strategy, market research, and commercialization 6 . According to Kotler, _________are the easiest marketing-mix element to adjust. _____ a. promotions _____ b. distribution channels _____ c. product features _____ d. prices

_____ e. sales tactics 7. Convenience products usually have intensive distribution because sales of these products tend to have a direct relationship to availability. _______True _______ False 8. Ideally, "good market segments meet the following criteria: _____ a. Single market, unique, screening, idea evaluation, and segmented _____ b. Competitive, homogeneous, diversified, and penetrated _____ c. Homogeneous, heterogeneous, geographic, and penetrated _____ d. Homogeneous, heterogeneous, substantial, and operational _____ e. Substantial, multiple target, operational, and homogeneous 9. A key objective of marketing is to: _____ a. Offer the right product at the right price _____ b. Find a break though opportunities _____ c. Satisfy the needs of some group of customers that the firm serves _____ d. Develop a competitive advantage _____ e. Offer new or improved products 10. Quality and satisfaction depend on: _____ a. The total product offering _____ b. The need satisfying offering of a firm _____ c. The service offering _____ d. A product assortment _____ e. A product line 11. Decisions regarding price are important because it affects both: _____ a. Flexibility and company earnings _____ b. The number of sales a firm makes and company earnings _____ c. Product life cycle and discounts _____ d. Discounts and company earnings _____ e. Transportation cost and company earnings 12. Pricing objectives include all except: _____ a. Target return _____ b. Maximize profits

_____ c. Temporary discounts _____ d. Dollar or unit sales growth and market share growth _____ e. Meeting competition 13. Break even analysis is a pricing solution that evaluate whether the firm will be able to break even. _______True _______ False 14. An example of a properly trademarked name is: ____ a. Coca-Cola _____b. Nescaf coffee _____c. Dunkin' Donuts _____d. tic tacs 15. The four unique elements to services include: _____ a. Independence, intangibility, inventory, and inception _____ b. Independence, increase, inventory, and intangibility _____ c. Intangibility, inconsistency, inseparability, and inventory _____ d. Intangibility, independence, inseparability, and inventory _____ e. Interdependence, inventory, inseparability, and increase

16 Buy it now refers to which one of the following options? Select correct option: Personal selling Advertising Sales promotion Publicity

17 The BCG growth-share matrix classifies which of the following four types of SBUs?

Select correct option:

Product; price; promotion; placement Sales; market share; price; promotion Stars; cash cows; question marks; dogs Planning; organizing; leading; controlling

18: A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives. a. strategic plan b. marketing plan c. sales plan d. target market plan e. competitive analysis plan

19: Mission statements are at their best when they reflect a ________. a. market b. strength c. competency d. vision e. value

20: The traditional view of marketing is that the firm makes something and then ________ it. a. markets b. sells c. distributes d. prices e. services

21:The task of any business is to deliver ________ at a profit. a. customer needs b. products c. customer value d. products and services

e. improved quality

22:Introducing new products to existing markets is an example of:

conglomerate diversification. vertical diversification. horizontal diversification. concentric diversification.

23: When a company acquires a supplier through an acquisition strategy, this is

referred to as:

Forword integration
backward integration. vertical marketing system. horizontal integration