Marketing Practice Questions

Name\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ 1\) Which of the following is true of services? A\) Services are tangible. B\) Services are inseparable from service providers C\) Companies can easily standardize services. D\) Servic...

Name\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ 1\) Which of the following is true of services? A\) Services are tangible. B\) Services are inseparable from service providers C\) Companies can easily standardize services. D\) Services are nonperishable. 2\) In marketing, the idea of exchange refers to A\) the negotiation phase between the manufacturer and the seller. B\) the financial remuneration (monetary payment) for a product or service. C\) the trade of things of value between buyer and seller so that each is better off after the trade. D\) the bartering of products and services between nongovernmental organizations or individuals. E\) the practice of swapping products and services for other products and services rather than for money. 3\) \_\_\_\_\_\_\_\_\_\_\_\_\_\_is a set of activities related to creating, communicating, delivering, and exchanging offerings that have value for others A\) manufacturing. B\) advertising. C\) marketing. D\) selling. E\) promotion. 4\) A need refers to A\) a sense of personal inadequacy based upon observations by others around you. B\) a sense of urgency, which causes a person to take action. C\) a feeling that is shaped by a person\'s knowledge, culture, or personality. D\) a feeling of vague lacking, but not fully understanding what may be required. E\) a feeling of deprivation of basic necessities such as food, clothing, and shelter. 5\) The marketing manager\'s controllable factors---product, price, promotion, and place---that can be used to solve a marketing problem are referred to as A\) the marketing concept. B\) the marketing mix. C\) the marketing program. D\) environmental forces. E\) the marketing toolbox 6\) Market segments refer to A\) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process. B\) all buyers of a product or service who have previously purchased a particular firm\'s products or services and who intend to repeat that purchase sometime in the future. C\) the smallest number of buyers that have similar needs but do not react similarly in a buying situation. D\) the relatively homogeneous groups of prospective buyers that have common needs and will respond similarly to a marketing action. E\) all potential buyers of a product or service who intend to purchase a firm\'s products or services but who have not yet done so. 7\) The \_\_\_\_\_\_\_\_ concept means that an organization strives to satisfy consumer needs while achieving its goals. A\) marketing B\) sales C\) production D\) societal benefit E\) customer relationship 8\) Product positioning is A\) an outdated concept that assigns product value by association with social class. B\) the place a product offering occupies in consumers\' minds on important attributes. C\) the competitive advantage of one product over another. D\) changing the place a product occupies in a consumer\'s mind relative to competitive products. E\) a market-product grid with products in appropriate places used to identify potential untapped markets. 9\) The product life cycle refers to A\) the average life span of a product. B\) a concept that describes the stages a new product goes through from product concept to commercialization. C\) a concept that describes the stages a product goes through in the marketplace---early growth, accelerated development, maturity, and decline. D\) a concept that describes the stages a product goes through in the marketplace---introduction, growth, maturity, and decline. E\) the amount of time it takes a product innovation to completely diffuse in the marketplace. 10\) The ratio of perceived benefits to price is referred to as A\) the price-quality relationship. B\) customer-value pricing. C\) value-added pricing. D\) value analysis. E\) value.