MKT 200 Unit 2 Quiz 1 Latest-POST



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MKT 200 Unit 2 Quiz 1 Latest-POST

MKT 200 Unit 2 Quiz 1 Latest-POST


MKT 200 Unit 2 Quiz 1 Latest-POST

Unit 2 Quiz 1

Question 1

Which of the following is most essential to any definition of marketing?

  • demand management
  • the production concept
  • customer relationships
  • making a profit

Question 2

When backed by buying power, wants become:

  • social needs
  • demands
  • physical needs
  • exchanges

Question 3

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

  • selling
  • segmentation
  • positioning
  • 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 customers.
  • 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:

  • product
  • price
  • promotion
  • place

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 a:

  • butterfly
  • true friend
  • barnacle
  • stranger

Question 12

A product with a low market growth rate and relatively high market share is known in the Growth-Share Matrix as a:

  • dog
  • cash cow
  • star
  • 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
  • diversification

Question 14

Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched?

  • psychographic
  • economic
  • demographic
  • geographic
  • 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 process?

  • 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 observation

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 innovators