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Marketing Management Quiz 3 (60 MCQs)

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1. This refers to the customer's assessment of the benefits gained from the product or service compared to the cost and competing offers on the market
2. The product concept focus on the
3. Hu Jintao, the dictator of China, makes the decisions which affect the jobs and living conditions of people living in China. The economic system in China is closer to which economic system?
4. Procter & Gamble manufactures a variety of brands under one category. An example is shampoo with brands such as Pantene, Herbal Essences, and Head and Shoulders. For shampoo, Procter & Gamble would appropriately use
5. In searching out suppliers, industrial purchasers should obtain ..... from potential vendors.
6. In this stage of the product life cycle, investment expenses are extremely high and there are no sales yet
7. In this stage of the product life cycle, sales of the product fall and companies cut prices as well as advertising and promotions of the product.
8. Considering a continuum from mass marketing to one-to-one marketing, marketing segmentation is
9. Which of the following is the right time for a business to make promotional decisions in relation to product, price, and distribution decisions:
10. A company wants to know why sales of a certain product are not growing. Its purpose in conducting marketing research is to .....
11. What is the enviroment of Marketing Management?
12. What type of business policy is designed to attract customers by making the purchasing experience more convenient for them?
13. There is a rule of thumb that says it costs ..... times more to acquire a new customer compared to maintaining a loyal one.
14. Manufacturer uses wholesalers and retailers to distribute goods to the customers. Which level channel of distribution is the manufacturer using-
15. An organization is gathering, recording, and analyzing data about its target market. This activity is known as .....
16. The marketing concept which aims to increase profit from economies of scale
17. Select the factor based on the explanation:Companies will modify or change their products to meet the needs of customers based upon research and customers comments. It is important that they keep up with demand.
18. When can core businesses change?
19. Which of the following help a business keep stock based on sales and allow them to spend money based on a planned budget?
20. An advantage of using satellite tracking technology in distribution is that it enables businesses to
21. Concentrated marketing is based around
22. Is anything that can be offered to a market to satisfy a want or need.
23. Personal selling would be a cost-effective form of promotion for which of the following products:
24. In an economic system, the decision to hire more employees in order to make more products is answering which economic choice?
25. Paul's plant food is losing its popularity among his customer base. Which marketing function would come up with the improved product?
26. Ben has the responsibility of improving the product in the company he works for. He researches the market opportunities and works to develop a better product for his company to sell. This function of marketing is called:
27. Businesses often obtain marketing information to
28. Which of these is NOT one of the five primary data collection methods discussed in the chapter?
29. The most common form of business ownership in the United States is .....
30. Labor-union negotiations are part of which HR management activity?
31. Be cool limited has decided to market its products through the conventional network of manufacturer-wholesaler-retailers-consumer. Identify the function of marketing being described in the above lines.
32. From now until 2024, Virginia will experience a ..... growth in the Marketing Career Cluster. a. 5% b. 11% c. 9% d. 7%
33. What does applying the customer-orientation element of the marketing concept enable the business to do?
34. Identify the type of market research data based on the characteristics below:Data regarding competitors, their products, and their territory, etc that can be used to improve a company's market position
35. Percentage of total sales generated by competing companies is:
36. Branding is manifesting building a great brand as the most fun and creatively rewarding parts of growing a business.
37. If a company purchases survey results, this is called:
38. Which of the following is a function that is an important part of the human resources management activities of business:
39. The role of brands varies to its functional level where building comprehensive brand experience is visible.
40. What is another way to describe financial information that is true, complete, and faithfully represented?
41. What does continuously monitoring internal marketing information enable businesses to do?
42. Product, Place, Promotion, Price
43. Which of the following is a series of organized activities working towards a particular goal?
44. What makes distribution an important function in marketing?
45. Which is the technique of sales promotion?
46. ..... means that each customer serves as his or her own segment.
47. The administration of assets refers to decisions about
48. Consumers have unique needs and desires. Economists call this
49. What has consequences in the interaction between the service provider and the customer?
50. What is a bachelor's degree?
51. A striking line or phrase that would make your brand remarkable to the customer.
52. As prices for a product decrease,
53. Under the Total Costumer Cost, a type of Customer Perceived Value that relates to the mental effort and exertion that the customer undertakes to buy and use the product.
54. Select the technique and example used in pricing products.Technique:Pricing multiple products together rather than by themselves to send a message of value and increase sales volume. Example:3 cookies for $ 1
55. Which career pathway requires that employees have stamina, stress-management skills, confidence, persuasiveness, and specialized knowledge about a product or service?
56. A marketing plan forces the marketing team to put its goals in writing, making those goals .....
57. To know about religious affairs is called-
58. The Potteryware company decided to sell its coffee mugs in the local coffee houses. What type of marketing decision was this?
59. Highway 1 Restaurant allows customers the opportunity to enter drawings in order to win a birthday cake. Customers register by providing their contact information on a card. What does entering the drawings represent?
60. In today's world, marketing should be done by ..... employee in organization
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