MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
Chapter 1
1.The term marketing refers to:
a.
new product concepts and improvements
b.
selling
c.
advertising and promotion activities
d.
a philosophy that stresses customer satisfaction
e.
planning sales campaigns
ANS: D PTS: 1 REF: 3 OBJ: 01-1 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Strategy
5. _____ is a key ingredient in the philosophy of marketing; it occurs when people give up something in
order to receive something that they would rather have.
a.
Exchange
b.
Synergy
c.
Transformation
d.
Leveraging
e.
Reciprocity
ANS: A PTS: 1 REF: 3-4 OBJ: 01-1 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Product
11. The concept of exchange is important to marketing because:
a.
if all the conditions for an exchange are in place, then the exchange will be completed
b.
exchange provides money to marketers
c.
marketing activities help to create exchange
d.
marketing activities are a requirement for exchange to take place
e.
money is the only medium of exchange for business marketers
ANS: C
Marketing activities help the exchange to take place, but marketing can occur without an exchange.
PTS: 1 REF: 3-4 OBJ: 01-1 TYPE: Comp
TOP: AACSB Reflective Thinking| TB&E Model Product
14.Which of the following is NOT a marketing management philosophy?
a.
sales orientation
b.
societal marketing orientation
c.
market orientation
d.
profitability orientation
e.
production orientation
ANS: D PTS: 1 REF: 4-6 OBJ: 01-2 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Strategy
22. The _____ orientation assumes people will buy more if aggressive selling techniques are used.
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
a.
market
b.
sales
c.
customer
d.
production
e.
exchange
ANS: B
The sales orientation assumes aggressive selling is what is needed to increase demand.
PTS: 1 REF: 5 OBJ: 01-2 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Pricing
30. A company that has a market orientation and adheres to the marketing concept does NOT:
a.
integrate all the activities of the firm to satisfy customer wants
b.
focus on consumer needs and wants
c.
differentiate the firm’s products from its competitor’s products
d.
fuel sales growth through the application of aggressive sales techniques
e.
concentrate on long-term goal achievement (such as profits and growth) for the firm
ANS: D
Aggressive sales techniques are part of the sales orientation and are not needed if a company is
meeting needs and wants of its customers.
PTS: 1 REF: 5 OBJ: 01-2 TYPE: Comp
TOP: AACSB Reflective Thinking| TB&E Model Strategy| TB&E Model Product
31. The statement, “Marketing should be introduced at the beginning rather than the end of the production
cycle and integrated into each phase of the business,” is consistent with a(n) _____ orientation.
a.
production
b.
market
c.
retail
d.
sales
e.
enterprise
ANS: B
Understanding the competitive arena and competitors’ strengths and weaknesses is a critical
component of market orientation.
PTS: 1 REF: 5-6 OBJ: 01-2 TYPE: Comp
TOP: AACSB Reflective Thinking| TB&E Model Product
37. The marketing concept includes a goal orientation to remind managers that:
a.
achieving long-term organizational goals is as important as satisfying customers
b.
customers must be satisfied no matter what the long-term effect on the firm
c.
the only reason for any business to exist is to make a profit
d.
the objective is to find a target market that differs from that of the competition
e.
functional integration of all departments is useful but not essential
ANS: A
The goal orientation refers to the company’s goals, such as profit, growth, service, and survival.
PTS: 1 REF: 5-6 OBJ: 01-2 TYPE: Comp
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
40. An organization with a(n) _____ believes that it exists not only to satisfy customer wants and needs
and to meet organizational objectives but also to preserve or enhance individuals’ and society’s long-
term best interests.
a.
sales orientation
b.
market orientation
c.
ethical business mission
d.
focused target market strategy
e.
societal orientation
ANS: E PTS: 1 REF: 6 OBJ: 01-2 TYPE: Def
45. Which of the following statements about the societal orientation is true?
a.
Companies that protect the environment by using all-natural materials in their products are
showing a societal marketing orientation.
b.
Marketers cannot deliver all benefits sought by customers because these benefits may not
be in the long-term best interests of the customers.
c.
The societal marketing concept is an important refinement of the market concept.
d.
Organizations have both a social and economic justification for their existence.
e.
All of these statements about the societal orientation are true.
ANS: E PTS: 1 REF: 6 OBJ: 01-2 TYPE: Comp
TOP: AACSB Reflective Thinking| TB&E Model Research| TB&E Model Customer
60. _____ is defined as the relationship between benefits and the sacrifice necessary to obtain those
benefits.
a.
Opportunity cost
b.
Marketing utility
c.
Market quality
d.
Satisfaction percentage
e.
Customer value
ANS: E PTS: 1 REF: 6 OBJ: 01-3 TYPE: Def
64. When customer expectations regarding product quality, service quality, and value-based price
are met or exceeded, _____ is created.
a.
a value line
b.
a quality rift
c.
planning excellence
d.
customer satisfaction
e.
expectation satisfaction
ANS: D PTS: 1 REF: 7 OBJ: 01-3 TYPE: Def
94. What is the fundamental objective of most businesses?
a.
employee empowerment, teamwork, and relationship marketing
b.
satisfied stakeholders
c.
low costs and high quality
d.
customer loyalty and retention
e.
survival, profits, and growth
ANS: E
The use of marketing allows businesses to achieve this objective.
PTS: 1 REF: 11 OBJ: 01-4 TYPE: Comp
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
Chapters 3 & 4
3. Corporate social responsibility is defined as the:
a.
belief that the legal system defines ethical behavior
b.
development of inclusive codes of ethics
c.
rules by which social rewards are attained
d.
concern for social welfare by businesses
e.
coordination of social programs for publicity purposes
ANS: D PTS: 1 REF: 29 OBJ: 03-1 TYPE: Def
TOP: AACSB Ethics| TB&E Model Strategy
4. Corporate social responsibility:
a.
is mandated by federal law
b.
requires companies to sacrifice economic performance for the sake of their stakeholders
c.
does not influence competition
d.
may not always result in profit and growth
e.
is unaffected by environmental changes
ANS: D PTS: 1 REF: 29 OBJ: 03-1 TYPE: Comp
7. _____ is the idea that socially responsible companies will outperform their peers by focusing on the
world’s social problems and viewing them as opportunities to build profit and help the world at the
same time.
a.
Sustainability
b.
Philanthropy
c.
Cause marketing
d.
Creative ethics
e.
International ethics
ANS: A PTS: 1 REF: 29 OBJ: 03-1 TYPE: Def
15. The four components of the pyramid of corporate social responsibility are:
a.
sustainability, creativity, profit, and culture
b.
organizational culture, creativity imagery, economic performance, and objectivity
c.
organizational, financial, social, and cultural responsibilities
d.
sustainability, legality, creativity, and competition
e.
economic, legal, ethical, and philanthropic responsibilities
ANS: E PTS: 1 REF: 29-30 OBJ: 03-1 TYPE: Def
16. Which of the following statements describes ethics?
a.
Ethics are the moral principles or values that generally govern the conduct of an
individual.
b.
Ethics is the standard of behavior by which conduct is judged.
c.
Morals are a foundation for ethical behavior.
d.
Ethical values are situation specific and time oriented.
e.
All of the statements describe ethics.
ANS: E PTS: 1 REF: 30 OBJ: 03-2 TYPE: Comp
TOP: AACSB Ethics| TB&E Model Strategy
25.A(n) _____ is a defined group that managers feel is most likely to buy a firm’s product.
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
a.
target market
b.
buying center
c.
aggregated unit
d.
consumer cluster
e.
demographic sample
ANS: A PTS: 1 REF: 32 OBJ: 03-3 TYPE: Def
27. Which of the following statements best describes the typical target market?
a.
A target market will remain stable over time, with the same group of consumers.
b.
Target markets change over time as consumers drop in or out of the market, and as tastes change.
c.
Target markets are not strongly affected by changes in the external environment.
d.
Target markets only change when the features and benefits of the product offering change.
e.
Target markets cannot be specifically defined according to age, income, or location because these
factors are continually changing.
ANS: B
Target markets are defined and described, but they are always changing in response to environmental
changes.
29. The external environment:
a.
can be controlled in much the same manner as the internal marketing mix
b.
cannot be influenced by marketing managers
c.
does not change over time
d.
does not have an impact on Fortune 500 companies
e.
must be continually monitored by marketing managers
ANS: E PTS: 1 REF: 32 OBJ: 03-3 TYPE: Comp
30. The external environment is a strong influence on a target market and can be a source of _____ for the
marketing manager.
a.
opportunities and threats
b.
threats and strengths
c.
environmental loopholes
d.
opportunities and weaknesses
e.
product myopia
ANS: A
The external environment can provide opportunities to serve new and changing needs, as well as
warnings about changes that could threaten the current position of the firm. Students will need to
remember what a SWOT analysis is to answer this question.
33. What is apparently the most difficult external variable for marketing managers to forecast, influence,
or integrate into marketing plans?
a.
technology
b.
social factors
c.
demography
d.
competition
e.
economic conditions
ANS: B
Social factors and changes are difficult to foresee, because they are usually slow and/or small changes.
Also, it is very difficult for one company to affect social factors in any appreciable manner.
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
35. When a company engages in _____, it is implementing strategies that attempt to shape the external
environment in which it operates.
a.
synergistic control
b.
environmental management
c.
transactional management
d.
market control
e.
reactive management
ANS: B PTS: 1 REF: 33 OBJ: 03-3 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Strategy
38. _____ factors are the environmental factors concerned with the changes in people’s values, lifestyles,
and family roles.
a.
Social
b.
Economic
c.
Political
d.
Competitive
e.
Demographic
ANS: A PTS: 1 REF: 33 OBJ: 03-4 TYPE: Comp
45. What do self-sufficiency, upward mobility, and conformity have in common?
a.
These are no longer valued attitudes.
b.
They are attitudes that can easily be changed.
c.
These are three perceptions that Americans have of the Asian lifestyle.
d.
These are three of the core values that have influenced lifestyles in the United States.
e.
They are the determinants of a component lifestyle.
ANS: D
The fourth value is work ethic.
58. The study of people’s vital statistics, such as their ages, births, deaths, and locations, is called:
a.
cultural sociology
b.
psychometrics
c.
ecology
d.
ethnography
e.
demography
ANS: E PTS: 1 REF: 34-35 OBJ: 03-5 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Customer
59. Which of the following is NOT a demographic characteristic of a population?
a.
income level
b.
age
c.
values
d.
education
e.
birthrate
ANS: C
Values are a social factor.
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
76. Factors, such as interest rates, inflation, and consumer income that influence the marketing
environment, are called _____ factors.
a.
economic
b.
socio-demographic
c.
political
d.
government
e.
consumption
ANS: A PTS: 1 REF: 39 OBJ: 03-7 TYPE: Def
82. A period of economic activity when income, production, and employment tend to fall, reducing overall
demand, is called:
a.
stagnation
b.
an inflation
c.
a recession
d.
price escalation
e.
a depression
ANS: C PTS: 1 REF: 40 OBJ: 03-7 TYPE: Def
86. Which of the following is sometimes an effective weapon for fighting inflation and recession?
a.
technology
b.
line extensions
c.
increased capital gains taxes
d.
introducing product-line extensions
e.
reducing R&D expenditures
ANS: A PTS: 1 REF: 40-41 OBJ: 03-8 TYPE: Def
87. Research that attempts to expand the frontiers of knowledge rather than solving a specific, pragmatic
problem is called:
a.
technical diversity
b.
reactive research
c.
applied research
d.
experiential research
e.
basic research
ANS: E PTS: 1 REF: 41 OBJ: 03-8 TYPE: Def
100. Laws and regulations of various governments and their ongoing development and change are an
example of _____ factors and are part of all organizations’ external environment.
a.
economic investment
b.
political and legal
c.
research and development
d.
competitive
e.
demographic
ANS: B PTS: 1 REF: 42 OBJ: 03-9 TYPE: Def
TOP: AACSB Technology| TB&E Model Strategy
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
Chapter 2
4. _____ is the managerial process of creating and maintaining a fit between the organization’s objectives
and resources and evolving market opportunities.
a.
Tactical management
b.
The market audit
c.
Functional planning
d.
Environmental scanning
e.
Strategic planning
ANS: E PTS: 1 REF: 15 OBJ: 02-1 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Strategy
8. _____ is the process of anticipating events and determining strategies to achieve organizational
objectives.
a.
Planning
b.
Portfolio evaluation
c.
Forecasting
d.
Implementation
e.
Evaluation
ANS: A PTS: 1 REF: 15 OBJ: 02-1 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Marketing Plan
10. Marketing plans should be written to do all of the following EXCEPT:
a.
compare actual and expected performance
b.
provide clearly stated activities
c.
create common goals for employees to work toward
d.
allow managers to enter the marketplace with an awareness of possibilities and problems
e.
control the elements of the external marketing environment
ANS: E
Marketing environment variables cannot be controlled.
PTS: 1 REF: 16 OBJ: 02-1 TYPE: Comp
TOP: AACSB Reflective Thinking| TB&E Model Marketing Plan
11. Which of the following is one of the elements of the marketing plan?
a.
a business mission statement
b.
a situation analysis
c.
a target market strategy
d.
the marketing mix
e.
all of the choices
ANS: E
See Exhibit 2.1.
PTS: 1 REF: 17 OBJ: 02-1 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Marketing Plan
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
13. The _____ answers the question, “What business are we in, and where are we going?”
a.
mission statement
b.
financial statement
c.
situation analysis
d.
market strategy
e.
strategic plan
ANS: A PTS: 1 REF: 18 OBJ: 02-2 TYPE: Def
TOP: AACSB Analytic| TB&E Model Strategy
17. The focus of an organization’s mission statement should be on:
a.
the products it wishes to sell
b.
the market it wishes to serve
c.
its social responsibilities
d.
the desires of government regulators
e.
technologies it understands well
ANS: B
The choice of the market to serve determines the product and technology decisions.
21. A popular technique for managing a large organization with different technologies and markets is to
divide it into:
a.
strategic business units
b.
different technologies
c.
strategic target markets
d.
design matrices
e.
tactical segments
ANS: A PTS: 1 REF: 18 OBJ: 02-2 TYPE: Def
TOP: AACSB Analytic| TB&E Model Strategy
25. An SBU:
a.
competes with the same companies as the other SBUs in the parent organization
b.
shares the same mission with all the other SBUs in the parent organization
c.
controls its business independent of other SBUs in the organization
d.
usually benefits from the combined corporate raw materials purchases
e.
still has strategic planning performed back at corporate headquarters
ANS: C
SBUs have separate business functions from one another and have their own mission statements,
markets, and planning.
27. After management agrees on a mission statement, it must set objectives. Which of the following is
NOT a characteristic of a good objective?
a.
profitable
b.
realistic
c.
measurable
d.
time-specific
e.
consistent
ANS: A
Good objectives are not necessarily stated in terms of profit.
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
28.A _____ is defined as a statement of what is to be accomplished through marketing activities.
a.
mission statement
b.
business plan
c.
marketing objective
d.
goal-driven directive
e.
marketing criteria
ANS: C PTS: 1 REF: 18 OBJ: 02-3 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Strategy
30. When an organization creates a mission statement that is too narrow, _____ results.
a.
marketing synergy
b.
marketing myopia
c.
directional marketing
d.
an internal threat
e.
sustainable competitive advantage
ANS: B
Marketing myopia defines a business in terms of goods and services rather than in terms of benefits
customers seek. See Review Learning Outcome 2.
PTS: 1 REF: 18 OBJ: 02-2 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Product
35. For marketing objectives to be realized, they must meet all of the following criteria EXCEPT:
a.
be consistent with organization objectives
b.
be measurable
c.
be attainable
d.
be challenging
e.
be set within a one-year time frame
ANS: E
There is no one-year time frame restriction for marketing objectives although specifying a particular
time frame makes an objective more clear and precise.
37. A _____ is a formal study conducted by an organization to ascertain its current status and capabilities
and its future expectations.
a.
situation analysis
b.
marketing audit
c.
trend analysis
d.
strategic alternative selection
e.
competitive advantage audit
ANS: A PTS: 1 REF: 19 OBJ: 02-4 TYPE: Def
TOP: AACSB Analytic| TB&E Model Research
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
39. The SWOT acronym refers to a firm’s analysis of its:
a.
sales, width of product mix, observations, and technology
b.
situations, wealth, organizational strengths, and target markets
c.
strengths, weaknesses, opportunities, and threats
d.
service levels, willingness to spend, organizational culture, and total revenues
e.
strategies, willingness to change, objectives, and trends
ANS: C PTS: 1 REF: 19 OBJ: 02-4 TYPE: Def
43. _____ is defined as the collection and interpretation of information about forces, events, and
relationships that may affect the organization.
a.
Market sampling
b.
An internal audit
c.
Opportunity analysis
d.
Environmental scanning
e.
Stakeholder analysis
ANS: D PTS: 1 REF: 19 OBJ: 02-4 TYPE: Def
68. _____ is a strategy of increasing market share for present products in existing markets.
a.
Market penetration
b.
Product development
c.
Market development
d.
Diversification
e.
Product penetration
ANS: A PTS: 1 REF: 22 OBJ: 02-6 TYPE: Def
70. _____ is a strategy that attracts new customers to existing products.
a.
Product development
b.
Market development
c.
Market penetration
d.
Product penetration
e.
Diversification
ANS: B PTS: 1 REF: 22 OBJ: 02-6 TYPE: Def
75. _____ is a strategy that creates new products for present markets.
a.
Product penetration
b.
Market penetration
c.
Product development
d.
Market development
e.
Diversification
ANS: C PTS: 1 REF: 22 OBJ: 02-6 TYPE: Def
76. _____ is the strategy of increasing sales by introducing new products into new markets.
a.
Product penetration
b.
Product development
c.
Market penetration
d.
Market development
e.
Diversification
ANS: E PTS: 1 REF: 22 OBJ: 02-6 TYPE: Def
MKTG 300 SUMMER 12 QUIZ POOL ITEMS FOR ALL CHAPTERS
102. A(n) _____ describes and estimates the size and sales potential of market segments of interest to the
firm and assesses key competitors in these market segments.
a.
marketing orientation
b.
environmental scan
c.
marketing mix audit
d.
target market strategy
e.
market opportunity analysis
ANS: E PTS: 1 REF: 24 OBJ: 02-7 TYPE: Def
TOP: AACSB Reflective Thinking| TB&E Model Strategy
105. The _____ is the unique blend of product, distribution, promotion, and pricing strategies designed to
produce mutually satisfying exchanges with a target market.
a.
internal environmental mix
b.
marketing mix
c.
product mix
d.
product line
e.
market portfolio
ANS: B PTS: 1 REF: 25 OBJ: 02-8 TYPE: Def
a.
analysis of what production equipment is available and owned by the company
b.
design of the promotion campaign to be used for the product
c.
selection of the places through which the good or service will be sold
d.
determination of the product’s price, enabling future revenues and budgets to be estimated
e.
development of the good or service to be sold
a.
advertising strategies
b.
production strategies
c.
product strategies
d.
promotion strategies
e.
distribution strategies
