Question-1
Which of the following would a company most likely use to conduct a marketing audit?
A. the Five Forces of Competitive Position Model
B. ROMI analysis
C. the BCG matrix
D. CRM analysis
Question-2
According to your textbook, modern marketing has its roots in all of the following EXCEPT:
A. anthropology.
B. economics.
C. psychology.
D. sociology
Question-3
Which of the following is a consumer product?
A. Salt and gravel used by cities to spread on icy roads
B. A bulk package of tissues to be separated and resold at a convenience store
C. A bag of potato chips to be eaten by an individual
D. A carton of tomatoes to be used at a restaurant
Question-4
Which of the following is the BEST example of a service?
A. The medical examination Jonathon had yesterday
B. The sheet music purchased by the piano teacher
C. The software Monica purchased from a website
D. The cleaning supplies purchased for the veterinarian's office
Question-5
In marketing terms, B2B stands for:
A. buyer-to-buyer.
B. buyer-to-business.
C. business-to-buyer.
D. business-to-business.
Question-6
Selling and pricing are examples of __________ functions.
A. exchange
B. public
C. consumer
D. facilitating
Question-7
Strategic planning is typically completed by a company's __________, while tactical planning is typically completed by a company's __________.
A. marketing function; various business functions
B. marketing function; top management
C. various business functions; top management
D. top management; various business functions
Question-8
__________ are necessities to meet urgent requirements.
A. Needs
B. Wants
C. Demands
D. Utilities
Question-9
A company's business mission serves as a statement of:
A. fact.
B. achievement.
C. purpose.
D. financial goals.
Question-10
When the makers of a line of ballpoint pens state that they are in the communication equipment business, they are defining their mission too:
A. narrowly.
B. realistically.
C. specifically.
D. broadly.
Question-11
Porter's Five Forces of Competitive Position Model is used to determine where power exists in a company's:
A. internal environment.
B. business market.
C. consumer market.
D. microenvironment.
Question-12
A marketer who first identifies consumer needs and then creates value by providing products that satisfy those needs is practicing the:
A. sales orientation.
B. marketing concept.
C. customer lifetime value concept.
D. production orientation.
Question-13
The vice president of marketing for a software development company wants "to increase new business customers by 20% within the next two years." This is an example of a:
A. marketing objective.
B. business vision.
C. business mission.
D. strategic plan.
Question-14
In a basic SWOT analysis, the "S" stands for:
A. situation.
B. solutions.
C. satisfactions.
D. strengths
Question-15
In recent years, security regulations initiated by the federal government through the Transportation Safety Administration affected Southwest Airlines. These regulations are part of the __________ affecting this airline.
A. external environment
B. internal environment
C. competitive environment
D. brand strategies
Question-16
Risk-taking and the promise of servicing a product after purchase are examples of __________ functions.
A. exchange
B. facilitating
C. consumer
D. public
Question-17
Income levels are average __________ used to approximate national earnings.
A. business revenues
B. business profits
C. consumer savings
D. consumer earnings
Question-18
In the generally accepted stages of the business buying process, the step following the description of the characteristics of the item and the quantity needed is the:
A. acquisition of proposals.
B. search for and qualification of potential sources.
C. recognition of the organization's problem or need.
D. determination of the characteristics of the needed item.
Question-19
Business legislation has been created for three basic reasons: to protect companies from each other, to protect consumers, and to:
A. protect the interests of society.
B. regulate prices.
C. increase world trade.
D. regulate monopolies.
Question-20
A company would most likely use the Porter analysis for which of the following?
A. Determining whether or not to expand a brand into a new market segment
B. Assessing employee understanding of and commitment to company values
C. Identifying shifting cultural values relevant to the company's products
D. Identifying lobbying efforts with the highest likelihood of success
