Question 1

A marketing system is

Accepted Answer

A)  different then a marketing plan
B)  the process by which you prepare a marketing plan
C)  the same as the marketing plan
D)  has more to do with business management than with marketing itselfE) All of the above
F) C) and D)

Question 2

Before developing a marketing strategy,goals and objectives should be

Accepted Answer

A)  creative and broadly defined
B)  consistent with the owners' wishes
C)  realistic and specific
D)  subjected to ongoing and continuous revisionsE) A) and B)
F) A) and C)

Question 3

Product deficiencies often result from

Accepted Answer

A)  rushing the product to market
B)  corporate sabotage
C)  poor consumer education
D)  unacceptably low pricingE) B) and C)
F) A) and B) A

Question 4

The marketing plan should be prepared _______ production or manufacturing decisions are made

Accepted Answer

A)  after
B)  at the same time as
C)  before
D)  without regard to whenE) A) and B)
F) A) and C)

Question 5

In connection with marketing,an owner manager

Accepted Answer

A)  can do nothing to alleviate the consequences of certain external and uncontrollable factors
B)  can do some things to effectively respond to certain external and uncontrollable factors
C)  is rarely subject to uncontrollable factors
D)  can monitor uncontrollable factors so as to avoid themE) None of the above
F) A) and C)

Question 6

Marketing action and strategy decisions budgets

Accepted Answer

A)  are useful in preparing the business's financial plan
B)  are free standing
C)  are unrelated to other budgets in the business
D)  define borrowing needsE) All of the above
F) A) and C)

Question 7

Generally,it is recognized that

Accepted Answer

A)  new customers are better sources of revenue than existing customers
B)  it costs a business more to attract than to retain a customer
C)  retaining customers can be more costly than attracting a new one
D)  new customers and existing customers represent the same financial considerationsE) A) and B)
F) C) and D)

Question 8

Marketing plans should

Accepted Answer

A)  be developed from scratch each year
B)  be repeated without being redrawn if they have worked well
C)  be based on proven business intuition
D)  provide for continuity from annual plan to annual planE) A) and C)
F) All of the above

Question 9

Psychographic segmentation

Accepted Answer

A)  is based on psychological wellness in the target market
B)  is based on personality types
C)  requires psychological testing of customers
D)  is based on buyer behaviorE) None of the above
F) A) and B)

Question 10

Weak signals from a monitoring process

Accepted Answer

A)  should be tracked until the end of the budget period
B)  should lead to modification in the existing marketing effort
C)  should lead to increase borrowing
D)  should result in terminations of poorly performing employeesE) A) and B)
F) A) and C)

Question 11

a market segment that produces the most revenue

Accepted Answer

A)  is the key to maximizing profits
B)  is the most difficult to access
C)  does not necessarily produce the most profit
D)  produces the most loyal customersE) A) and B)
F) None of the above

Question 12

Most successful marketing plans are based on

Accepted Answer

A)  the entrepreneurs commitment to the product
B)  secondary and primary marketing research data
C)  financial resources
D)  a scattergun approachE) None of the above
F) All of the above

Question 13

A marketing plan is not

Accepted Answer

A)  a generalized document
B)  a guide for implementing marketing decision making
C)  based on a collection of marketing details for future planning
D)  an annually prepared documentE) A) and B)
F) A) and C)

Question 14

A company's mission

Accepted Answer

A)  outlines its position in society
B)  describes the nature of the business
C)  explains what profit levels the owner hopes to accomplish
D)  reflects what customers wantE) B) and D)
F) None of the above B

Question 15

The text identifies four important marketing variables.They are:

Accepted Answer

A)  product,price,place,promotion
B)  preferences,policies,placement,price
C)  positives,promotion,preconditions,population
D)  price,promotions,priorities,placeE) A) and C)
F) B) and C)

Question 16

Well prepared,marketing plans

Accepted Answer

A)  should succeed as planned
B)  are not possible
C)  will likely not succeed exactly as expected
D)  will result in respectable profitsE) A) and D)
F) C) and D)

Question 17

CRM stands for

Accepted Answer

A)  Customer Retention Methods
B)  Customer Recall Monitoring
C)  Customer Relationship Metrics
D)  Customer Relationship ManagementE) A) and B)
F) B) and C) A

Question 18

The text recommends that chances of retaining a customer depend primarily on

Accepted Answer

A)  relating to customers without change so long as it seems to be working
B)  offering services that seem to be relevant to the market
C)  sticking with existing business practices
D)  customer satisfaction with the businessE) B) and C)
F) A) and D)

Question 19

Marketing strategy and action decisions address the question

Accepted Answer

A)  what is our favorite way to market?
B)  what are our goals?
C)  who is our target market?
D)  how do we get there?E) A) and C)
F) All of the above

Question 20

Consumers looking for lasting values and tangible benefits are most likely to be

Accepted Answer

A)  in their 20's
B)  teenagers
C)  seniors
D)  non-existentE) None of the above
F) All of the above

Exam 7: Marketing Management

A marketing system is

Correct AnswerverifiedShow Answer

Before developing a marketing strategy,goals and objectives should be

Correct AnswerverifiedShow Answer

Product deficiencies often result from

Correct AnswerverifiedA

The marketing plan should be prepared _______ production or manufacturing decisions are made

Correct AnswerverifiedShow Answer

In connection with marketing,an owner manager

Correct AnswerverifiedShow Answer

Marketing action and strategy decisions budgets

Correct AnswerverifiedShow Answer

Generally,it is recognized that

Correct AnswerverifiedShow Answer

Marketing plans should

Correct AnswerverifiedShow Answer

Psychographic segmentation

Correct AnswerverifiedShow Answer

Weak signals from a monitoring process

Correct AnswerverifiedShow Answer

a market segment that produces the most revenue

Correct AnswerverifiedShow Answer

Most successful marketing plans are based on

Correct AnswerverifiedShow Answer

A marketing plan is not

Correct AnswerverifiedShow Answer

A company's mission

Correct AnswerverifiedB

The text identifies four important marketing variables.They are:

Correct AnswerverifiedShow Answer

Well prepared,marketing plans

Correct AnswerverifiedShow Answer

CRM stands for

Correct AnswerverifiedA

The text recommends that chances of retaining a customer depend primarily on

Correct AnswerverifiedShow Answer

Marketing strategy and action decisions address the question

Correct AnswerverifiedShow Answer

Consumers looking for lasting values and tangible benefits are most likely to be

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified