University:
Eastern Kentucky University
Course:
MKT 300 | Principles of Marketing
Academic year:

2022
Views:

495

Pages:

3
Author:

esfredint7qo

Chapter 1: 1. There are four fundamental assumptions of free-market economics that a market-driven society strives to achieve. What statement most closely matches the assumption of self-interest? A. A wide range of sellers ensures that if one company does not meet customer needs, another will capitalize on the situation by producing a more market-responsive product. B. The outcome of efficient competition is better quality products at lower prices. C. People usually want more for less, and successful companies strive to earn revenue. D. The effects of advertising, when executed correctly, may be dramatic. E. The marketing strategy will help determine who the targets of advertising should be, in what markets the advertising should appear, and what goals the advertising should accomplish. 2. After World War II, ______ advertising grew rapidly, and in time achieved its current status as the largest advertising medium in terms of revenues. A. digital B. TV C. radio D. word-of-mouth E. print 3. The modern practice of coordinating and integrating brand messages across all consumer contact points is called A. product differentiation. B. integrated marketing communication. C. positioning strategy. D. marketing segmentation. E. unique selling proposition. 4. What is a characteristic of advertising? A. unstructured B. personal communication C. free D. non-mediated E. directed to target audiences 5. A strategy of product differentiation allows manufacturers to separate a particular brand from its competitors by associating that brand with a particular set of needs that rank high on the consumer’s priority list. A. False B. True 6. ESPN on cable television is an example of narrowcasting. A. True B. False 7. Which is the best example of a good? A. a medical examination B. a blood pressure test C. a thermometer D. membership in a health club E. a physical therapy session 8. Complete information, one of the four fundamental assumptions of free market economics that a market-driven society strives to achieve, refers to the idea that society benefits from having a wide range of sellers and buyers. A. False B. True 9. In the 1960s, Volkswagen launched an ad campaign, “Think small,” emphasizing its difference from large, road-hogging American car brands. What kind of strategy was Volkswagen most likely using? A. market differentiation B. positioning C. product allocation D. demarketing E. deceptive advertising 10.The advertising profession has struggled with issues of truthfulness and ethics. During what time period did the simmering resentment finally boil over into a full-blown consumer movement, which led to government regulation and ultimately to industry efforts at self-regulation? 1. early-2000s 2. mid-1800s 3. late-1900s 4. early 1900s 5. mid-1900s