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

2023
Views:

323

Pages:

4
Author:

Hallie Randolph

1. What is marketing? A. a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others B. a need of buying suitable products with long anticipated life cycles C. a process in which a group of individuals can exchange products and goods D. a person who offers the most quality, performance, and innovative features 2. What is the Goal of Marketing? A. To obtain differences in competitors' marketing capabilities B. To attract new customers by promising superior value, and to keep current customers by delivering satisfaction C. It is achieved when sales of a firm’s existing product cut into sales of the same product D. To deliver a high level of satisfaction to all suppliers 3. What is market? A. B. C. D. A place where you can buy groceries A set of incoming and outgoing sellers and buyers The set of all actual and potential buyers of a product or service The majority of population under specific conditions 4. What terms are the most important in order to explain marketing definition? A. B. C. D. Needs Wants Demands All of the above 5. Which statement is true? A. B. C. D. Product is anything that can be offered to a market to not satisfy a need or want There is no relationship between products and services Services include products Products include services 6. New economy is characterised by: A. B. C. D. A substantial increase in purchasing power. A greater variety of available goods and services. A great amount of information about everything. All of the above 7. What products will be favoured by consumers? A. B. C. D. Those which offer the greatest quality, performance, and innovative features Those which are at the lowest price Those which are the most popular Those which are the most available 8. What is needed to undertake by organisation to make consumers buy their products? A. B. C. D. A large-scale selling and promotion effort Reducing the prices of the products offered Creating websites to review your product Investing in product advertising 9. Who takes decision regarding selection of the most appropriate channel of distribution like wholesaling, distribution and retailing? A. B. C. D. Marketing manager and sales manager Logistics manager Product manager CFO 10. What does it mean when the products and services of company brand are using an R (Registered) symbol of trademark? A. trademark registration attempt was successful, no other company will be able to legally safeguard work that is too similar as long as trademark remains active B. it signals that a word, graphic etc. is being claimed by a specific company C. it means that at achieving this R symbol was used one of tools for data analysis - R Studio D. it signals that a word, graphic etc. is not being claimed by a specific company 11.How the process of marketing management starts? A. B. C. D. With the activity of setting objectives. With the activity of designing marketing strategy With the activity of analysing marketing opportunities With the activity of planning marketing programmes 12.What is an explanation of SMART used when setting goals? A. B. C. D. Specific, Measurable, Achievable, Relevant, Time based Specific, Measurable, Achievable, Relevant, Time consuming Specific, Measurable, Archaic, Recently stated, Time based Significant, Measurable, Achievable, Relevant, Time based 13.What is the SWOT analysis? A. A strategic planning technique used to identify the Strengths, Weaknesses, Opportunities and Threats related to project planning and business competition. B. It is a planning of product distribution C. It is planning of marketing campaign D. It is a part of marketing research 14.What is contained in PESTLE in the political factor? A. B. C. D. Stability of government, political changes to legislation, global influences Economic situation, investments in R&D, interest rates Demography, lifestyle, people’s attitude to new technologies R&D activity, innovation, rate of technological changes 15. What is market segmentation? A. Division of the total market into smaller, relatively homogeneous groups. B. Division of the total market into smaller, relatively heterogeneous groups. C. Identification of potential customers D. An aggregation of all customers into a single database 16. Which of the statements does NOT belong to the bases for segmenting consumer markets? A. Psychographic B. Demographic C. Firm size D. Geographic 17.Which of the statements is NOT a benefit of market segmentation? A. B. C. D. Better adjustment of products Efficient promotion Reduction of workload Easier to track change on the market 18.The basis for market segmentation is: A. B. C. D. Product category differences Differences between consumer demand and purchasing behaviour Market size differences Differences in competitors' marketing capabilities 19.Cannibalization is a situation: A. B. C. D. when sales of a new product cut into sales of a firm’s existing products when sales of a firm’s existing product cut into sales of a new product when sales of a product increase dramatically None of the above 20. Which are the target market selection strategies regarding to approach? A. Extensive approach or broad approach. B. Mass approach, in segments approach, niche approach and local or individualized marketing. C. Mass approach, geographical approach, niche approach and local or individualized marketing. D. None of the previous ones. 21. A market segment should be: A. B. C. D. Measured and available. Stable, large and distinctive. A and B are right. Available, measured and competitive. 22. What is placing (positioning) the product? A. Influencing the consumer to shape his perception of the product compared to other offers. B. Selecting the date and launch conditions of the product to maximize product performance. C. Scheduling the distribution details with retailers and clients. D. The discipline by which the most efficient logistical mean is chosen in order to deliver the product onto the consumer’s reach. 23.What are the 4 P’s of Marketing Mix? A. B. C. D. Plan, Programme, Power, People Product, Promotion, Price and Place Project, Plan, Place, Problem Product, Points, People, Public 24.What are the 4 C’s? A. B. C. D. Customer Value, Cost, Convenience and Communication Consume, Commonalities, Customer and Criticism Comparison, Conduction, Celebrity and Complexity Carefulness, Contempt, Contribution and Controlling 25. What is the definition of a Business model by Alexander Osterwalder? A. B. C. D. A Business model describes the competition on the market A Business model gives an overview about potential opportunities and risks A Business model is only needed in large companies A Business model describes how an organization make, develop and capture value 26.Which of these elements is NO element of the Business Model Canvas A. B. C. D. framework? Key Activities Cost Structure Management Revenues Streams 27.What includes explanatory studies? A. B. C. D. Verification of phenomena Strict scope Objective selection All of the above 28. Which are the variables of the marketing mix: A. B. C. D. Product, promotion, production and place Product, promotion, price and place Programme, promotion, product and place Product, prime, promotion, price 29. Which are the three additional “Ps” in Marketing Mix. A. B. C. D. People, process and physical evidence People, planning and personal Planning, promotion and prime Product, promotion and price 30.Which of the following facts are related with price? A. B. C. D. Discounts Publicity Channels Warranty 31.Which is the order of Kotler's product levels? A. Core, generic, expected, potential, augmented. B. Generic, core, expected, potential, augmented. C. Core, generic, expected, augmented, potential.