Webster MRKT5000/ MRKT5000 midterm exam - 95470

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Flag this Question Question 1 0.6 pts Marketing is the Process of: promoting products through personal selling and advertising to facilitate satisfying exchange relationships creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers in a dynamic environment delivering a standard of living to a society creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives focusing on the customer's needs Flag this Question Question 2 0.6 pts The focal point of all marketing activities is: products target markets customers sales profits Flag this Question Question 3 0.6 pts A target market involves a large numbers of customers is a specific group of customers on whom a company focuses its marketing efforts already has several competitors vying for the customers' business is the same as the saleperson's client list is a customer group that includes persons with similar demographic characteristics Flag this Question Question 4 0.6 pts The marketing mix consists of a target market is difficult for an organization to control directly affects the marketing environment focuses mainly on selling activities and advertising decisions includes product, distribution, promotion, and pricing decisions Flag this Question Question 5 0.6 pts A physical, concrete product you can touch is a(n) good service idea concept philosophy Flag this Question Question 6 0.6 pts The forces of the marketing environment are sociocultural,legal,regulatory,economic, and competitive competitive and noncompetitive forces that affect most lifestyles political, legal, regulatory, sociocultural, technological, economic, and competitive fairly static legal,regulatory,political, and sociocultural Flag this Question Question 7 0.6 pts The marketing plan is a plan of all aspects of an organization's strategy written for each SBU designed to take into account not only marketing, but all other functional areas of a business unit as well a written document detailing the activities to be performed to implement and control marketing activities updated only periodically Flag this Question Question 8 0.6 pts The strategic planning process begins with development of an organizational mission development of a marketing strategy analysis of marketing objectives development of a marketing plan analysis of the marketing environment Flag this Question Question 9 0.6 pts A competitive advantage exists when a firm does something better than its competitors a firm matches a core competency to opportunities it has discovered in the marketplace the right combination of circumstances and timing allow a firm to reach a particular target market a firm has a marketing plan a firm observes a temporary period of optimum fit between the key requirements of a market and its own capabilities Flag this Question Question 10 0.6 pts A long-term view, or vision, of what the organization wants to become is called a mission statement purpose statement vision statement marketing plan strategic vision Flag this Question Question 11 0.6 pts To monitor changes in the marketing environment effectively, marketers must engage in use of the marketing concept environmental scanning and analysis information collection marketing research environmental management Flag this Question Question 12 0.6 pts In its advertisements for Bud Light Beer, Anheuser-Busch has included a statement about "knowing when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts? Federal regulation City regulation Social reputation Self-regulation State regulation Flag this Question Question 13 0.6 pts The three factors that influence the ethical decision-making process include individual factors, organizational culture, and peer influence opportunity, personal moral philosophies, and situational variables individual factors, organizational factors, and opportunity societal forces, laws, and organizational factors peer influences, personal moral philosophies, and opportunity Flag this Question Question 14 0.6 pts Marketing research is BEST defined as the framework for the day-to-day management and structuring of information gathered by marketers a continuous gathering of data for an organization to make marketing decisions the collecting of data from secondary sources and internal documents an intuitive process for making decisions based on personal knowledge and experience the systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of market opportunities Flag this Question Question 15 0.6 pts When more information is needed about a problem and the tentative hypothesis needs to be made more specific, marketers usually conduct descriptive research causal research exploratory research analytical statistical research syndicated research Flag this Question Question 16 0.6 pts If Georgia-Pacific seeks information about trends in housing starts around the country and uses U.S. Department of Commerce reports to get this information, it is using which kind of data? causal exploratory primary laboratory secondary Flag this Question Question 17 0.6 pts An aggregate of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to purchase such products is called a(n) marketing mix aggregation market customer survey influencer Flag this Question Question 18 0.6 pts Markets fall into two categories. These categories are consumer and customer organizational and business-to-business homogenous and heterogenous customer segments and client segments consumer and organizational Flag this Question Question 19 0.6 pts The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called diversification target marketing concentrating segmentation conditioning Flag this Question Question 20 0.6 pts As Stan is shopping for groceries, he notices a product on the shelf and remembers that he is about to run out of it at home. In terms of the consumer buying decision process, Stan just experienced purchase postpurchase evaluation information search evaluation of alternatives problem recognition Flag this Question Question 21 0.6 pts If McDonald's uses a segmentation strategy for its sandwiches based on characteristics such as age, gender, or income, it is using which group of segmentation variables? Geographic Psychographic Demographic Product-related Education Flag this Question Question 22 0.6 pts The primary psychological influences on consumer behavior are attitudes, perception, retention, exposure, roles, and lifestyles perception, motives, learning, attitudes, personality, and lifestyles attitudes, perception, social class, culture, and learning perception, motives, reference groups, social class, and personality lifestyles, personality, perception, motives, attitudes, and culture Flag this Question Question 23 0.6 pts An open aggregate of people with similar social ranking is referred to as a role reference group caste subculture social class Flag this Question Question 24 0.6 pts Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as consumer markets institutional markets producer markets government markets reseller markets Flag this Question Question 25 0.6 pts Retailers like Wal-Mart and Kmart are considered to be members of which organizational market? retailer producer institutional reseller services
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Question 1 0.6 pts

Marketing is the Process of:

promoting products through personal selling and advertising to facilitate satisfying exchange relationships

creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers in a dynamic environment

delivering a standard of living to a society

creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives

focusing on the customer's needs

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Question 2 0.6 pts

The focal point of all marketing activities is:

products

target markets

customers

sales

profits

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Question 3 0.6 pts

A target market

involves a large numbers of customers

is a specific group of customers on whom a company focuses its marketing efforts

already has several competitors vying for the customers' business

is the same as the saleperson's client list

is a customer group that includes persons with similar demographic characteristics

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Question 4 0.6 pts

The marketing mix

consists of a target market

is difficult for an organization to control

directly affects the marketing environment

focuses mainly on selling activities and advertising decisions

includes product, distribution, promotion, and pricing decisions

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Question 5 0.6 pts

A physical, concrete product you can touch is a(n)

good

service

idea

concept

philosophy

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Question 6 0.6 pts

The forces of