Sample Questions(Past Exam Qeustions)

<Multople Choice Questions> 1 point each

1. According to the simple five-step model of the marketing process, a company

nee ds to ________ before designing a customer-driven marketing strategy.
a) determine how to deliver superior value
b) build profitable relationships with customers
c) use customer relationship management to create full partnerships with key
customers
d) understand the marketplace and customer needs and wants
e) construct key components of a marketing program

2. When markete rs set low expectations for a market offering, they run the risk of
________.
a) disappointing loyal customers
b) decreasing customer satisfaction
c) failing to attract enough customers
d) failing to understand their customers’ needs
e) incorrectly identifying a target market

3. Which of the following is a likely re sult of a marketing strategy that attempts to

serve all customers?
a) All customers will be delighted.
b) Customer-perceived value will be increased.
c) Customer evangelists will become unpaid salespersons for the service or
product.
d) Few customers will be satisfied.
e) The company will likely need to follow up with a demarketing campaign.

4. Which customer question is answered by a company’s value proposition?

a) “Why should I buy your brand rather than a competitor’s?”
b) “How does your brand benefit me and society?”
c) “What are the costs and benefits of your brand?
d) “What kind of experience will I have with products and services associated
with this brand?”
e) “What are the benefits of being a loyal consumer of your brand?”

5. Which of the following best explains why consumers have greater power and
control in today’s marketplace?
a) The production concept and competition have lowered prices.
b) Implementation of the product concept has resulted in continually
improving products.
c) Customer-driving marketing creates products and service s that meet
customers’ future needs.
d) More companie s are implementing societal marketing and weighing
long-term costs and benefits.
e) Through new communication technologies, customers have more access to
information and more methods of sharing their opinions with other
customers.

6. Which of the following is not a step in the strategic planning process?

 a) defining the company mission
b) setting company objectives and goals
c) designing the business portfolio
d) planning marketing and other functional strategies
e) collaborating with suppliers on multiple fronts choice is extreme

7. Which of the following is not an example of a market-oriented mission

statement?
a) “We make the Internet buying experience fast, easy, and enjoyable.”
b) “We create customer connectivity anytime, anywhere.”
c) “We create fantasies.”
d) “We hold online auctions.”
e) “We empower customers to achieve the homes of our dreams.”

8. Starbucks has introduced a debit card that lets customers prepay for c offee and
snacks. This effort by Starbucks management is an example of ____________.
a) market development
b) product development
c) diversification
d) market penetration
e) product adaptation
(d; p. 44; Moderate) {AACSB: Reflective Thinking}

9. In the four Ps of the marketing mix, design, packaging, services, and variety all
fall under the category of ________.
a) product
b) price
c) promotion
d) place
e) position

10. Which of the following is not a type of factor in a company’s

macroenvironment?
a) demographic
b) economic
c) technological
d) competitors
e) political

11. Your marketing department is currently researching the size, density, location,
age, and occupations of your target market. Which environment is being
researched?
a) demographic
b) psychographic
C) economic
d) geog raphic
3) cultural

12. Companies that do not keep up to date with the ________ environment may
miss new product and market opportunitie s and find their current products
outdated.
 a) natural
b) political
c) technological
d) economic
e) demog raphic

13. Marketers can take a(n) ________ by taking aggressive action to affect the
publics and forces in their marketing environments.
a) environmental perspective
b) proactive stance
c) natural perspective
d) natural management perspective
e) relationship building perspective
(b; p. 89; Moderate)

14. Which of the following statements is not true regarding information collected
by marketers?
a. Managers lack information of the right kind.
b. Most managers do not need more information.
c. Most managers need better information.
d. Many managers are burdened by data overload.
e. Managers have the right information and they have enough of it.

15. A marketing information system (MIS) consists of people and procedures to

assess information needs, ________, and help decision makers analyze and use the
information.
a. experiment to develop information
b. test market the information
c. develop the needed information
d. critique the needed information
e. compare the needed information

16. A plan for primary data collection spells out the specific research approaches,
contact methods, ________, and instruments that researchers will use to gather
data.
a. personnel
b. sampling plans
c. budget requirements
d. all of the above
e. none of the above

17. Which method c ould a marketing researcher use to obtain information that
people are unwilling or unable to provide?
a. observational research
b. focus groups
c. personal interviews
d. Internet surveys
e. questionnaire s

18. The marketer wants to understand how the stimuli are change d into response s
inside the consumer’s ________, which has two parts: the buyer’s characteristics
that influence how he or she perceive s and reacts to the stimuli and the buyer’ s
decision process itself.
a. culture
b. black box
c. belief
 d. lifestyle
e. social class

19. Maslow’ s theory is that ________ are arranged in a hierarchy from the most
pressing at the bottom to the least pressing at the top.
a. stimuli
b. beliefs and attitudes
c. perception s
d. human needs
e. decisions

20. The buyer decision process consists of five stages. Which of the following is
not one of these stages?
a. need recognition
b. information search
c. variety-seeking buying behavior
d. purchase decision
e. postpurchase behavior

<True/False Quetsions> .5 point each

1. Physical distribution firms that help the company stock and move goods from
their points of origin to their destinations are considered to be marketing
intermediaries.

( T / F )

2. The twofold goal of marketing is to attract new customers by promising

superior value and to keep and grow current customers by delivering satisfaction.

( T / F )

3. A company can offer greater customer value by either charging lower price s
than competitors or offering more benefits to justify higher prices.

( T / F )

4. "At Nike, we sell shoes" is a market-oriented business definition.

( T / F )
5. An effective MIS assesses information needs, develops needed information, and
distributes the information to help managers use it in decision making.

( T / F )

6. Holiday Inn has divided the total customer market into smaller segments and
selected the most promising segments. Deciding what position it wants to occupy in
these segments is called targeting.

( T / F )

7. People use the same products and services as they progress through each
life-cycle stage.

( T / F )

8. Ben usually buys new devices such as PDAs, DVRs, and MP3 players only after
his friends and family start owning these devices. In this case, Ben is an
innovator.

( T / F )

9. Survey research is best suited for gathering descriptive information.

( T / F )

10. The response rate in mail surveys is often very low.

( T / F )

<Short Answers> 1 point each

1. Large societal forces like demographic, economic, natural, technological,

political, and cultural forces that affect the microenvironment are considered to be
part of the 【 macroenvironment 】 of an organization.

2. 【 Customer equity 】 is the total combined customer lifetime value s of

all the company's current and potential customers.

3. A 【 value-delivery network 】 is made up of the company, its suppliers, its

distributors, and its customers, who partner with each other to improve the
performance of the entire sy stem.

4. 【 Perception 】 is the process by which people select,

organize, and interpret information to form a meaningful picture of the world.