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BUS 101 Final Exam Pool Items, Exams of Business Systems

Chamberlain College of Nursing Business Systems

BUS 101 Final Exam Pool Items/BUS 101 Final Exam Pool Items

Typology: Exams

2022/2023

Available from 04/28/2023

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FINAL EXAM POOL ITEMS (Chs. 9, 11, 12, 13, 14, 15 & 17 ... NOT 18)

*** RED FONT ITEMS ON ACTUAL FINAL EXAM ***

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

** ASSESSMENT EXAM QUESTIONS – THESE ITEMS WILL DEFINITELY APPEAR ON THE FINAL EXAM **

CHAPTER 1

1-113. Marketing will not happen unless:

A) e-commerce is flourishing.

B) facilitators are present to simplify exchange.

C) middlemen are present to facilitate exchange.

D) two or more parties each have something they want to exchange for something else.

E) an economy is market-directed rather than planned.

1-120. MACRO-marketing:

A) is a social process.

B) tries to overcome "discrepancies of quantity" and "discrepancies of assortment."

C) tries to effectively match supply and demand.

D) tries to overcome the many separations between producers and consumers.

E) All of the above are true statements.

1-204. The three basic ideas in the "marketing concept" are:

A) customer satisfaction, resource efficiency, sales maximization.

B) customer satisfaction, total company effort, sales growth.

C) resource efficiency, sales growth, profit maximization.

D) customer satisfaction, marketing manager as chief executive, profit.

E) customer satisfaction, total company effort, profit.

CHAPTER 2

2-57. A marketing strategy specifies:

A) a marketing mix.

B) a target market and a related marketing mix.

C) a target market.

D) the resources needed to implement a marketing mix.

E) both A and D.

2-64. The "four Ps" of a marketing mix are:

A) Production, Personnel, Price, and Physical Distribution

B) Promotion, Production, Price, and People

C) Potential customers, Product, Price, and Personal Selling

D) Product, Price, Promotion, and Profit

E) Product, Place, Promotion, and Price

Discover Exams of Business Systems Chamberlain College of Nursing

Partial preview of the text

Download BUS 101 Final Exam Pool Items and more Exams Business Systems in PDF only on Docsity!

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

ASSESSMENT EXAM QUESTIONS – THESE ITEMS WILL DEFINITELY APPEAR ON THE FINAL EXAM

CHAPTER 1 1-113. Marketing will not happen unless:

A) e-commerce is flourishing.

B) facilitators are present to simplify exchange.

C) middlemen are present to facilitate exchange.

D) two or more parties each have something they want to exchange for something else.

E) an economy is market-directed rather than planned.

1-120. MACRO-marketing:

A) is a social process.

B) tries to overcome "discrepancies of quantity" and "discrepancies of assortment."

C) tries to effectively match supply and demand.

D) tries to overcome the many separations between producers and consumers.

E) All of the above are true statements.

1-204. The three basic ideas in the "marketing concept" are:

A) customer satisfaction, resource efficiency, sales maximization.

B) customer satisfaction, total company effort, sales growth.

C) resource efficiency, sales growth, profit maximization.

D) customer satisfaction, marketing manager as chief executive, profit.

E) customer satisfaction, total company effort, profit.

CHAPTER 2 2-57. A marketing strategy specifies:

A) a marketing mix.

B) a target market and a related marketing mix.

C) a target market.

D) the resources needed to implement a marketing mix.

E) both A and D.

2-64. The "four Ps" of a marketing mix are:

A) Production, Personnel, Price, and Physical Distribution

B) Promotion, Production, Price, and People

C) Potential customers, Product, Price, and Personal Selling

D) Product, Price, Promotion, and Profit

E) Product, Place, Promotion, and Price

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

2-101. A "marketing plan" is:

A) a marketing program.

B) a marketing strategy.

C) a marketing strategy--plus the time-related details for carrying it out.

D) a target market and a related marketing mix.

E) a plan that contains the necessary operational decisions.

CHAPTER 3 3-81. Market segmentation:

A) means the same thing as marketing strategy planning.

B) assumes that most submarkets can be satisfied by the same marketing mix.

C) is the same thing as positioning.

D) tries to identify homogeneous submarkets within a product-market.

E) All of the above are true.

3-135. "Positioning" is a marketing management aid which refers to:

A) a product's ability to provide both immediate satisfaction and social responsibility.

B) how customers think about proposed and/or present brands in a market.

C) a firm's ability to distribute products through middlemen who are in the right

position to reach target customers.

D) how a firm approaches customer relationship management.

E) all of the above.

CHAPTER 4 4-94. Rising costs and inflation are part of the uncontrollable ______________ environment.

A) technological

B) economic

C) competitive

D) legal

E) cultural and social

4-135. Maria Lopez runs an errand service from her home. For a fee, she will pick up dry

cleaning, buy groceries, plan small parties, and do errands for her customers. The

demand for this type of service has increased because of changes in the

A) cultural/social environment.

B) legal environment.

C) technological environment.

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

D) buyer and decider

E) user and gatekeeper

CHAPTER 7 7-78. Often the most difficult step in the marketing research process is:

A) analyzing the situation.

B) defining the problem.

C) getting problem-specific data.

D) interpreting the data.

E) All of the above.

7-87. Data that has already been collected or published is:

A) useful data.

B) secondary data.

C) primary data.

D) free data.

E) rarely--if ever--useful for marketing decision making.

CHAPTER 8 8-90. "Product" means:

A) all the services needed with a physical good.

B) a physical good with all its related services.

C) the need-satisfying offering of a firm.

D) all of a firm's producing and distribution activities.

E) a well-packaged item with a well-advertised brand name.

8-117. Which of the following is NOT one of the consumer product classes discussed in the

text?

A) Unsought products

B) Innovative products

C) Shopping products

D) Convenience products

E) Specialty products

8-167. Which of the following is NOT one of the text's business product classes?

A) Raw materials

B) Component parts and materials

C) Specialty products

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

D) Professional services

E) Installations

CHAPTER 9 9-68. Which of the following is NOT one of the text's product life cycle stages?

A) Market maturity

B) Market penetration

C) Market introduction

D) Sales decline

E) Market growth

9-70. As a product moves through its product life cycle:

A) industry profits may decrease while industry sales increase.

B) the nature of competition moves toward pure competition or oligopoly.

C) entirely different target markets may be aimed at.

D) customers' attitudes and needs may change.

E) All of the above are true.

CHAPTER 11 11-43. When planning physical distribution, the marketing manager should:

A) set the customer service level so that every customer can get the product exactly

when he wants it.

B) minimize the cost of distribution for a given customer service level.

C) minimize the cost of transportation.

D) maximize the speed of delivery.

E) make use of a distribution center.

11-52. The "total cost approach" to physical distribution management:

A) seeks to eliminate the storing function.

B) seeks to minimize the cost of transportation.

C) might suggest a high-cost transporting mode if storing costs could be reduced

enough to lower total distribution costs.

D) ignores inventory carrying costs.

E) All of the above.

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

E) $38.

17-122. Customers are likely to be more price sensitive when:

A) the total expenditure is great.

B) they have to pay the bill themselves.

C) the end benefit isn't very significant.

D) they haven't yet spent any money related to the purchase.

E) All of the above.

CHAPTER 18 18-39. Marie Callender has developed a new brand of frozen dinners to compete with the well-

established brands. It probably should use a marketing mix of:

A) exclusive distribution, skimming pricing, and persuasive advertising.

B) intensive distribution, introductory price dealing, selective demand advertising, and

a combined "push" and "pull" policy.

C) intensive distribution, price cutting, reminder advertising, and a "pull" policy.

D) selective distribution, penetration pricing, pioneering advertising, and a "push"

policy.

E) selective distribution, skimming pricing, selective demand advertising, and a "push"

policy.

18-68. The text argues that MACRO-marketing in the United States:

A) costs too much because many consumers are dissatisfied.

B) is a growing concept.

C) does not cost too much.

D) tends to decrease consumer welfare.

E) costs too much because satisfying consumers costs too much.

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

Answer Key

1-113. D

1-120. E

1-204. E

2-57. B

52-64. E

2-101. C

3-81. D

3-135. B

4-94. B

4-135. A

5-84. A

5-180. A

6-77. C

6-88. A

7-78. B

7-87. B

8-90. C

8-117. B

8-167. C

9-68. B

9-70. E

11-43. B

11-52. C

14-59. E

14-63. C

14-115. D

17-69. B

17-122. E

18-39. B

18-68. C

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

b. packaging c. color d. weight e. size ANS: A PTS: 1 REF: 131 OBJ: 09-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product

In the long run, regardless of the effort put into the product management process, the most important factor determining if a consumer product will succeed or fail is: a. the product mix plan b. the way the firm implements its production strategy c. the marketing plan it selects for its products d. how well the manufacturer satisfies its customers' needs e. the competition encountered by the manufacturer ANS: D Products succeed because they deliver benefits and satisfy customer needs. PTS: 1 REF: 131 OBJ: 09-1 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
When PaintingsDirect, an online seller of contemporary original art, markets its art to home decor buyers for retailers, custom-framing stores, and intermediaries that supply furniture and home furnishings retailers, it is selling _____ products. a. specialty b. consumer c. business d. convenience e. unsought ANS: C Business products are purchased for (1) use in the production of other goods or services, (2) use in an organization's operations, or (3) resale to other customers. PTS: 1 REF: 131 OBJ: 09-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product
The consumer product classification system is based on: a. how the market is segmented b. the way the products are manufactured c. the way products are used d. the physical attributes of the product e. the amount of effort consumers spend to acquire the product ANS: E Products are classified by the amount of effort that is normally expended in the acquisition process.

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

PTS: 1 REF: 132 OBJ: 09-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product

_____ products are purchased with little shopping effort. These products typically are purchased regularly, usually with little planning, and require wide distribution. a. Convenience b. Specialty c. Branded shopping d. Unbranded shopping e. Generic ANS: A PTS: 1 REF: 132 OBJ: 09-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product
Arno stopped at a newsstand to buy today’s Wall Street Journal. While he was paying for his newspaper, he noticed a Sudoku puzzle book, which he also purchased. In this example, the puzzle book is an example of a(n) _____ product. a. specialty b. convenience c. business d. shopping e. unsought ANS: B Convenience products are usually relatively inexpensive items that receive little shopping effort. An item bought on an impulse like the puzzle book is an example. PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
While Allison was showing her new infant son to friends of her grandmother, the baby needed a diaper change, and she had brought none with her. She normally uses eco-friendly Seventh Generation brand diapers but settled for Pampers brand diaper because that was the only brand stocked at the small local grocery store. For Allison, the recent diaper purchase is an example of buying _____ products. a. homogeneous shopping b. heterogeneous shopping c. convenience d. specialty e. component ANS: C She spent very little shopping effort buying the diaper due to the emergency. PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
Which of the following is the best example of a convenience product? a. the purchase of an engagement ring

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

ANS: A

Harrison is comparing ads looking for a low price. This is shopping product behavior. PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer

Which of the following is the best example of a shopping product for most consumers? a. a light bulb for the front porch fixture b. Vital Radiance makeup by Revlon for women over 50 c. a ream of paper for your printer d. a gas grill for the new patio e. a copy of the Wall Street Journal ANS: D Shopping products are typically more expensive than convenience products and are found in fewer shops. Vital Radiance describes a specialty product because of the specification of a brand name, as does The Wall Street Journal PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
The two types of shopping products are: a. unsought and convenience b. generic and family c. exclusive and intensive d. heterogeneous and homogeneous e. consumer and business ANS: D PTS: 1 REF: 132 OBJ: 09-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product
_____ are products consumers see as being basically the same, so consumers shop for the lowest price. a. Low-prestige specialty products b. Product equivalents c. Heterogeneous shopping products d. Generic convenience products e. Homogeneous shopping products ANS: E PTS: 1 REF: 132 OBJ: 09-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
Andrea needs to find a kennel for boarding her son’s dogs. There are several different kennels in her community, and Andrea believes all of them to be basically alike. The only feature she is genuinely concerned about is low price. For Andrea, the kennel for boarding dogs would be classified as a(n) _____ product. a. specialty b. unsought c. heterogeneous shopping

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

d. basic convenience e. homogeneous shopping ANS: E Homogeneous products are products that consumers see as being basically the same, so consumers shop for the lowest price. PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer

_____ products are seen by consumers to differ in quality, style, suitability, and lifestyle compatibility. Comparisons between these products are often quite difficult because they may have unique features and different levels of quality and price. a. Product equivalents b. Comparative convenience products c. Homogeneous shopping products d. Product counterparts e. Heterogeneous shopping products ANS: E PTS: 1 REF: 132 OBJ: 09-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
Which of the following products is most likely to be considered an example of a heterogeneous shopping product? a. an off-campus apartment b. a package of pencils c. a Rolex watch d. a stapler e. a flea collar ANS: A Heterogeneous shopping products are essentially different. Housing is one of the examples given in the text. PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product
When Kirby wanted a gas grill for his patio, he visited The Home Depot and Lowe's home- improvement stores, as well as three other stores that specialize in outside furnishings, in order to find the one with just the features he wanted. If Kirby represents a typical grill buyer, you know grills are a(n): a. homogeneous luxury product b. shopping specialty good c. operating supply good d. convenience item e. heterogeneous shopping good ANS: E

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

When deciding on distribution plans for specialty products, companies generally ensure that the items are: a. made available only as private brands b. made available in a large number of stores in a geographic area c. made available only through the mail d. distributed to a considerable number of stores in a geographic area e. distributed to only a few stores in the geographic area ANS: E Specialty products are searched for extensively, and substitutes are not acceptable. These products may be quite expensive, and often distribution is limited. PTS: 1 REF: 132 OBJ: 09-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Distribution
Ever since Martin saw his first Bianchi EV3 Carbon Centaur Road Bike, he has wanted to purchase one, but he could not afford its $2,500 price tag. He has conducted extensive research on Bianchi bicycles and learned nothing that changed his mind about the bike’s superiority. Finally, at age 35, he has achieved the income level to be able to purchase one. For Martin, the Bianchi bike is an example of a(n) _____ product. a. specialty b. consumer c. convenience d. business e. unsought ANS: A The fact that Martin did not consider another brand shows the bike is a specialty product. PTS: 1 REF: 132 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
_____ products are products that are not known about or not actively searched for by consumers. These products require aggressive personal selling and highly persuasive advertising. a. Hidden b. Specialty c. Equity d. Unsought e. Shopping ANS: D PTS: 1 REF: 133 OBJ: 09-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

To leave her neighborhood, Keisha has to drive through a construction area that is riddled with metal pieces and nails with the potential to puncture her tires. She got another flat tire just yesterday. The flat caused her to miss an important appointment with a prospective customer. Keisha does not know Michelin has introduced PAX tires, which can keep rolling smoothly up to 120 miles, even if completely deflated by a puncture. For Keisha, Michelin PAX tires are a(n) _____ product because she doesn't know the product exists. a. heterogeneous shopping b. specialty c. unsought d. convenience e. exclusive ANS: C New products are often examples of unsought products until promotion reveals their existence. PTS: 1 REF: 133 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
Unsought products typically are products that: a. consumers purchase when they see them in a convenient location b. consumers definitely don't want c. only require reminder advertising to be successful d. require little or no decision making by the buyer e. consumers don't know about or don't actively look for ANS: E PTS: 1 REF: 133 OBJ: 09-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product
Most people under the age of 25 have a strong belief in their own personal invincibility. An insurance agency targeting this group for life insurance would find this market segment categorizes the insurance as a(n) _____ product. a. heterogeneous shopping b. specialty c. unsought d. relationship e. exclusive ANS: C The buyer does not actively seek to buy this product. PTS: 1 REF: 133 OBJ: 09-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Customer
A product line is a group of products that are closely related because the: a. products share the same product managers b. products all function in a similar manner and provide similar benefits c. same company developed the idea for each product d. products are all sold under the same brand name

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

An organization's product mix includes all of the products that it sells. PTS: 1 REF: 133 OBJ: 09-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product

Product mix width may be defined as: a. the number of different product categories found within an industry b. the average number of products within each product line in the company c. the average number of products offered by the company d. the number of different product lines an organization offers for sale e. the extensiveness of the coverage of the line from high end (expensive) to low end (inexpensive) ANS: D PTS: 1 REF: 133 OBJ: 09-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product
Procter and Gamble (P&G) manufactures Dawn dishwashing liquid. The addition of Dawn Direct Foam dishwashing liquid is a way that P&G can expand the brand’s: a. line width b. breadth mix c. mix width d. line depth e. mix depth ANS: D Product line depth is the number of product items in a product line. PTS: 1 REF: 133 OBJ: 09-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product
George Weston Limited, a Canadian food processing and distribution company, is one of the world’s largest producers of breads. The company also owns and operates a pulp and paper processing company, a major Canadian dairy, and a sugar refinery. These organizations provide Weston with product: a. line height b. line consistency c. mix width d. line depth e. mix depth ANS: C Product mix width refers to the number of different product lines that an organization offers for sale. PTS: 1 REF: 133 OBJ: 09-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product
Which of the following is an example of a product modification? a. lowering the price of textbooks

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

b. dropping a product from the product line c. changing the color of a laundry detergent d. changing the amount of management time spent overseeing production e. increasing the number of distribution outlets ANS: C Product modification entails changing one or more of a product's characteristics. PTS: 1 REF: 134 OBJ: 09-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product

George Weston Limited, a Canadian food processing company, owns the Wonder bread brand. When Weston introduced whole grain white bread, which gives kids the bread texture and color they recognize and love and mothers the vitamins they want for their children, it was an example of a(n): a. product line contraction b. quality modification c. aesthetics modification d. obsolescence factor e. functional modification ANS: E Functional modification is a change in a product’s versatility or effectiveness. PTS: 1 REF: 134 OBJ: 09-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product
V8 juice has for years advertised itself as a refreshing and nutritional drink that contains eight different vegetables, and that is what the brand name V8 means to most consumers. When the manufacturer of V8 juice introduced V8 Orange and Mango juice, it was an example of a _____ strategy. a. repositioning b. product line extension c. cannibalization d. disintermediation e. demarketing ANS: B Product line extension is the adding of additional products to an existing product line in order to compete more broadly in the industry. PTS: 1 REF: 135 OBJ: 09-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product
Cadbury Schweppes produces several different brands of beverages including 7 Up, Canada Dry, Dr Pepper, Hawaiian Punch, and Snapple. This is an example of Cadbury's: a. product line width b. product mix c. product line depth d. product mix inconsistency

BUS 101 Final Exam Pool Items, Exams of Business Systems

Related documents

Partial preview of the text

Download BUS 101 Final Exam Pool Items and more Exams Business Systems in PDF only on Docsity!

*** RED FONT ITEMS ON ACTUAL FINAL EXAM ***

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

** ASSESSMENT EXAM QUESTIONS – THESE ITEMS WILL DEFINITELY APPEAR ON THE FINAL EXAM **

CHAPTER 1

1-113. Marketing will not happen unless:

A) e-commerce is flourishing.

B) facilitators are present to simplify exchange.

C) middlemen are present to facilitate exchange.

D) two or more parties each have something they want to exchange for something else.

E) an economy is market-directed rather than planned.

1-120. MACRO-marketing:

A) is a social process.

B) tries to overcome "discrepancies of quantity" and "discrepancies of assortment."

C) tries to effectively match supply and demand.

D) tries to overcome the many separations between producers and consumers.

E) All of the above are true statements.

1-204. The three basic ideas in the "marketing concept" are:

A) customer satisfaction, resource efficiency, sales maximization.

B) customer satisfaction, total company effort, sales growth.

C) resource efficiency, sales growth, profit maximization.

D) customer satisfaction, marketing manager as chief executive, profit.

E) customer satisfaction, total company effort, profit.

CHAPTER 2

2-57. A marketing strategy specifies:

A) a marketing mix.

B) a target market and a related marketing mix.

C) a target market.

D) the resources needed to implement a marketing mix.

E) both A and D.

2-64. The "four Ps" of a marketing mix are:

A) Production, Personnel, Price, and Physical Distribution

B) Promotion, Production, Price, and People

C) Potential customers, Product, Price, and Personal Selling

D) Product, Price, Promotion, and Profit

E) Product, Place, Promotion, and Price

*** RED FONT ITEMS ON ACTUAL FINAL EXAM ***

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

2-101. A "marketing plan" is:

A) a marketing program.

B) a marketing strategy.

C) a marketing strategy--plus the time-related details for carrying it out.

D) a target market and a related marketing mix.

E) a plan that contains the necessary operational decisions.

CHAPTER 3

3-81. Market segmentation:

A) means the same thing as marketing strategy planning.

B) assumes that most submarkets can be satisfied by the same marketing mix.

C) is the same thing as positioning.

D) tries to identify homogeneous submarkets within a product-market.

E) All of the above are true.

3-135. "Positioning" is a marketing management aid which refers to:

A) a product's ability to provide both immediate satisfaction and social responsibility.

B) how customers think about proposed and/or present brands in a market.

C) a firm's ability to distribute products through middlemen who are in the right

position to reach target customers.

D) how a firm approaches customer relationship management.

E) all of the above.

CHAPTER 4

4-94. Rising costs and inflation are part of the uncontrollable ______________ environment.

A) technological

B) economic

C) competitive

D) legal

E) cultural and social

4-135. Maria Lopez runs an errand service from her home. For a fee, she will pick up dry

cleaning, buy groceries, plan small parties, and do errands for her customers. The

demand for this type of service has increased because of changes in the

A) cultural/social environment.

B) legal environment.

C) technological environment.

*** RED FONT ITEMS ON ACTUAL FINAL EXAM ***

[Highlighted Items NOT Included]

ACTUAL FINAL EXAM = 70 ITEMS [5-7 Items Per Chapter & ALL 30 Assessment Items]

D) buyer and decider

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

ASSESSMENT EXAM QUESTIONS – THESE ITEMS WILL DEFINITELY APPEAR ON THE FINAL EXAM

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

* RED FONT ITEMS ON ACTUAL FINAL EXAM *

* RED FONT ITEMS ON ACTUAL FINAL EXAM *