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post mkt200 Unit 2 quiz 1 latest 2017

Unit 2 quiz 1

Question 1 Which of the following is most essential to any
definition of marketing?
demand management
the production concept
making a profit

Question 2 When
backed by buying power, wants become:
social needs
physical needs

Question 3 The art and science of choosing target markets
and building profitable relationships with them is called:
marketing management

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
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
market offerings
value and satisfaction
exchange relationships

Question 6 The set of benefits a company promises to deliver
to its consumers to satisfy their needs is called:
a money-back guarantee
low pricing
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:
market development
product development
business portfolio
value chain

Question 8 The place a product occupies in the consumer’s
mind relative to competitors’ products is termed:
product placement
product position
market segmentation
market targeting

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:
providing convenience
initiating two-way communication
offering discounts
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
true friend

Question 12 A product with a low market growth rate and
relatively high market share is known in the Growth-Share Matrix as a:
cash cow
question mark

Question 13 If you want to sell new products to new markets,
you are using a strategy called:
market penetration
product development
market initiation

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
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

Question 18 Companies
who use brand ambassadors are using a specific technique called:
opinion leading
buzz marketing
direct marketing
values marketing

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?
brand personality
product image
product perception
brand equity

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

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