1) The Primary Benefit in using the Marketing Process is to:
A. Eliminate competitor pre-emptive actions.
B. Achieve greater segment diversification.
C. Reduce consumer dissatisfaction.
D. Achieve greater market predictability.
2) The reason that many consumers feel that a lower priced product will not last long has to do with:
A. Effective positioning.
B. ?loss leader? pricing.
C. Trend analysis.
D. Level of expectation.
3) The true focus in marketing activities is:
A. Product / service ATTRIBUTES.
B. Generate profits.
C. Overall marketing mix.
D. Customers.
4) An effective marketing mix:
A. Best matches the attributes & capabilities of the marketer.
B. Best matches specific needs of the target market.
C. Best matches product development capabilities.
D. Best matches the timing and economic conditions of the market.
5) Iowa just changed the legal drinking age to 21 years old. This is an example of:
A. A change in the marketing variability for that market segment.
B. A change in the product delivery task.
C. A change in the marketing environment.
D. A change in the concept ? customer baseline attributes.
6) The 4 Ps have to do with:
A. The strategic business plan variables.
B. The primary combination of Marketing “mix” variables.
C. The primary marketing environment.
D. The target market variables.
7) A targeting strategy in which an organization focuses on a SPECIFIC market segment using ONE marketing mix is referred to as:
A. SELECTIVE in nature.
B. UNDIFFERENTIATED in nature.
C. CONCENTRATED in nature.
D. FOCUSED in nature.
8) A simple template for qualifying consumers as prospective customers includes which 4 attributes:
A. Income, Address, Occupation, Debt.
B. Willingness, Affordability, Culture, Reach.
C. Use, Affordability, Willingness, Reach.
D. Gender, Use, Reach, Demographics.
9) A major attribute of differentiation between products and services has to do with:
A. Perishability.
B. Familiarity.
C. Hetrogenity.
D. Credence.
10) When a supplier introduces a new product similar in use to an existing product offering, marketers are particularly sensitive to:
A. Price – benefit ratios.
B. Undifferentiated status.
C. Cannibalization.
D. Line stretching capability.
11) For the most part, the process by which people / consumers determine the value of a product is not highly scientific:
A. TRUE.
B. FALSE.
12) Hershall Enterprises now offers a product with attributes that no other supplier can offer in home appliances. It could be said that Hershall is engaging:
A. Oligopoly.
B. Pure Competition.
C. Heavy Competition.
D. Monopolistic Action.
13) The highest expenditures during the entire length of the product life cycle are made:
A. During the PIONEERING STAGE.
B. During the COMPETITIVE STAGE.
C. During the RETENTIVE STAGE.
D. During the DECLINE / NEW PIONEERING / REPOSITIONING STAGE.
