Mock Midterm! (1) - Practice Quiz

*Indicate whether the statement is true or false.* +-----------------------------------------------------------------------+ | 1. The commercial market purchases products for use directly and | | indirectly in the manufacturing of other products. | |...

*Indicate whether the statement is true or false.* +-----------------------------------------------------------------------+ | 1. The commercial market purchases products for use directly and | | indirectly in the manufacturing of other products. | | | | ​ | | | | a\. True | | | | b\. False | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 2. The public sector in Canada has a more diverse array of | | not-for-profit organizations than does the private sector. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 3. A straight rebuy is to the business market what a routinized | | purchase is to the consumer market. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 4. The introduction of a new brand into an array of familiar products | | often triggers limited problem-solving behaviour on the part of | | consumers. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 5. An understanding of a company's brand is neither imperative nor | | central to the task of managing a social media marketing campaign. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 6. Even though Europe is becoming a single economic unit, cultural | | differences will continue to define multiple markets. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 7. Neither export-management nor export-trade takes ownership of the | | product; in both cases, title for the product is retained by the | | manufacturer until a buyer is located and the sales transaction is | | completed. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 8. The choice between pleasing all consumers and remaining | | profitable---thus surviving---defines one of the most difficult | | dilemmas facing business. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 9. Industry Canada's mandate is to help Canadians and Canadian | | companies to grow in the competitive knowledge-based Canadian | | economy. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 10. A SWOT analysis helps planners compare internal organizational | | strengths and weaknesses with external opportunities and threats. | | | | ​ | | | | a\. True | | | | b\. False | | | |   | | | |   a.  True | | --- ----- ------- | |   b.  False | +-----------------------------------------------------------------------+ ----------------------------------------------------------------------------------------- *Indicate the answer choice that best completes the statement or answers the question.* ----------------------------------------------------------------------------------------- +-----------------------------------------------------------------------+ | 11. Hootsuite is a social media management software that allows users | | to manage multiple social network profiles, keep track of brand | | mentions, and send regular updates to their Twitter account. What is | | Hootsuite an example of? | | | |   a.  blogging site | | --- ----- ------------------------ | |   b.  app | |   c.  microblog | |   d.  social networking site | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 12. How can marketers influence the outcome of the evaluation stage | | of the consumer purchase decision process? | | | |   a.  by attempting to convince consumers that certain attribut | | es are more important than others in deciding which product to buy fr | | om among an array of them | | --- ----- --------------------------------------------------------- | | --------------------------------------------------------------------- | | --------------------------- | |   b.  by identifying which evaluative criteria are important to | | the individual and pointing out which brand best meets those criteri | | a | |   c.  by trying to get the customer to reduce the size of the e | | voked set to exclude many of the choices | |   d.  by attempting to convince the consumer to spend more than | | was budgeted for the purchase to acquire more features he or she mig | | ht prefer | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 13. What is the job title of the primary decision maker who runs a | | firm's social media program? | | | |   a.  content manager | | --- ----- -------------------------- | |   b.  online community manager | |   c.  social media strategist | |   d.  social media designer | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 14. In the VALS system, how can action-motivated consumers be | | described? | | | |   a.  They have a set of ideas and morals or principles they li | | ve by. | | --- ----- --------------------------------------------------------- | | -------- | |   b.  They are influenced by symbols of success. | |   c.  They seek physical activity, variety, and adventure. | |   d.  They have high energy level and are eager to buy products | |. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 15. Which term refers to an advantage brought about by the advent of | | the Internet as a shopping medium by eliminating the geographic | | protections and limitations of local business and by giving smaller | | firms a wider audience? | | | |   a.  personalization | | --- ----- ----------------- | |   b.  digital tooling | |   c.  interactivity | |   d.  global reach | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 16. Carlos, CEO of Fresh Foods, wants a qualitative forecasting | | technique that is quick, inexpensive, and can be effectively used to | | forecast sales in the short run and for new product development. What | | method should he use? | | | |   a.  sales force composite | | --- ----- ---------------------------- | |   b.  survey of buyer intentions | |   c.  Delphi technique | |   d.  jury of executive opinion | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 17. Which of the following involves creating and distributing | | relevant and targeted material to attract and engage an audience, | | with the goal of driving them to a desired action? | | | |   a.  content marketing | | --- ----- ------------------------- | |   b.  social media monitoring | |   c.  crowdsourcing | |   d.  social bookmarking | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 18. Texas Instruments produces electronic chips used in a variety of | | devices, from cell phones to hand calculators. The specifications of | | the chips change depending on the final product in which they are | | utilized. How is Texas Instruments most likely to segment its market? | | | |   a.  purchasing category | | --- ----- ------------------------------- | |   b.  psychographic characteristics | |   c.  end-use application | |   d.  demographic characteristics | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 19. Trevor Miguel is moving and needs to buy a new house. What | | consumer problem-solving behaviour is Trevor involved in? | | | |   a.  routinized response behaviour | | --- ----- ---------------------------------- | |   b.  variety-seeking buying behaviour | |   c.  extended problem solving | |   d.  limited problem solving | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 20. What was one of the early online offerings? | | | |   a.  food products | | --- ----- -------------------- | |   b.  luxury clothing | |   c.  airline tickets | |   d.  financial services | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 21. Which action is shaped by the effective application of learning | | theory within the marketing strategy context? | | | |   a.  repeat purchase behaviour | | --- ----- --------------------------- | |   b.  impulse buying behaviour | |   c.  cognitive dissonance | |   d.  domino effect | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 22. What is a critical issue facing governmental agencies regarding | | ethics in marketing research? | | | |   a.  personal selling | | --- ----- ------------------------------ | |   b.  truth in advertising | |   c.  planned obsolescence | |   d.  invasion of personal privacy | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 23. Which statement best describes primary data? | | | |   a.  It is collected for the first time specifically for a mar | | keting research study. | | --- ----- --------------------------------------------------------- | | -------------------------- | |   b.  It takes less time to acquire and is less costly than sec | | ondary data. | |   c.  Its newly published results consist of government investi | | gations. | |   d.  It is part of a strategic planning activity to ensure pro | | per resource allocation. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 24. Keith is working on a computerized search through one of his | | company's massive data files. The purpose of the search is to try to | | detect patterns in product sales. What is Keith engaged in? | | | |   a.  data forecasting | | --- ----- ------------------------------------ | |   b.  marketing decision support systems | |   c.  data mining | |   d.  sales forecasting | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 25. Which of the following actions generally helps marketers | | encounter new products, new approaches to distribution, or clever new | | promotional ideas? | | | |   a.  globalization | | --- ----- ------------------------- | |   b.  developing core values | |   c.  market penetration | |   d.  product standardization | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 26. A department manager recommends using secondary data in a | | marketing research project. What is the department manager looking | | for? | | | |   a.  personal interviews of people not directly related to the | | project | | --- ----- --------------------------------------------------------- | | ----------- | |   b.  information previously compiled and published | |   c.  newly generated database entries that need to be sorted b | | efore use | |   d.  personal observations of situations affecting the busines | | s | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 27. According to Maslow, which characteristic of a country provides | | marketers with the greatest opportunities to fill higher needs? | | | |   a.  food shortage | | --- ----- --------------------------- | |   b.  limited police force | |   c.  high standard of living | |   d.  high need for clean water | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 28. What does the click-through rate measure? | | | |   a.  number of clicks performed by an average user when search | | ing for information through a search engine | | --- ----- --------------------------------------------------------- | | --------------------------------------------- | |   b.  number of ads served up to a user on a search engine per | | query | |   c.  percentage of people presented with a banner ad who click | | on it | |   d.  number of Web pages viewed by a user after clicking throu | | gh an ad | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 29. WestJet Airlines has one of the lowest levels of operating | | expenses in the airline industry. In a SWOT analysis, what is this | | classified as? | | | |   a.  opportunity | | --- ----- ------------- | |   b.  constraint | |   c.  strength | |   d.  threat | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 30. A new brand is introduced into an array of familiar brands for | | which a consumer has previously set evaluative criteria. What might | | be the result of this introduction? | | | |   a.  limited problem solving | | --- ----- -------------------------- | |   b.  extended problem solving | |   c.  a routinized response | |   d.  brand evaluation | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 31. Who should complete operational planning? | | | |   a.  top management | | --- ----- ------------------------ | |   b.  mid-level managers | |   c.  supervisory management | |   d.  lower management | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 32. Who is the largest private employer in the world? | | | |   a.  General Motors Corporation | | --- ----- ---------------------------- | |   b.  McDonalds | |   c.  Microsoft | |   d.  Walmart | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 33. Which of the following is an example of a firm's weakness | | discovered by a SWOT analysis? | | | |   a.  changing buyer tastes in the marketplace | | --- ----- ---------------------------------------------- | |   b.  the presence of modern production facilities | |   c.  inadequate financing capabilities | |   d.  likely entry of new competitors | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 34. Which of the following is one type of buying centre role? | | | |   a.  the influencer, who supplies information to guide evaluat | | ion of alternatives | | --- ----- --------------------------------------------------------- | | --------------------------------- | |   b.  the contractor, who has the formal authority to select a | | supplier | |   c.  the distributor, who controls the information that all bu | | ying centre members will review | |   d.  the technician, who presents technical requirements | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 35. Which factor is most likely to have an influence on the choice | | between primary and secondary data? | | | |   a.  data source | | --- ----- ------------------ | |   b.  substitutability | |   c.  availability | |   d.  applicability | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 36. What is a limitation of secondary data not found in primary data? | | | |   a.  It is more expensive to collect and analyze than primary | | data. | | --- ----- --------------------------------------------------------- | | ----------------- | |   b.  It is not readily accessible for marketers. | |   c.  It may not be completely relevant to the specific needs o | | f the marketer. | |   d.  It is usually in the form of raw data and hence not relia | | ble. | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 37. What type of marketing do federal and provincial departments of | | tourism typically engage in? | | | |   a.  organization | | --- ----- -------------- | |   b.  person | |   c.  place | |   d.  cause | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 38. While developing a social media marketing campaign, how can | | marketers make it easy for potential customers to participate in the | | conversation? | | | |   a.  by introducing a wide range of merchandise | | --- ----- --------------------------------------------------------- | | ---------------------------------- | |   b.  by offering attractive discounts on goods and services | |   c.  by creating a specific landing page for the marketing cam | | paign | |   d.  by sending frequent mails and updates regarding goods and | | services to potential customers | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 39. Which of the following is an administrative trade barrier? | | | |   a.  quotas on exports | | --- ----- ------------------------------- | |   b.  liberal standards for imports | |   c.  import subsidies | |   d.  customs barriers | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 40. What section of a social media marketing plan covers the | | statements of goals and strategies, target audience, budget, and the | | returns as well as the methods for monitoring, measuring, and | | managing the marketing campaign? | | | |   a.  overview of the plan | | --- ----- ---------------------- | |   b.  executive summary | |   c.  body of the plan | |   d.  competitive analysis | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 41. What is the International Monetary Fund responsible for defining | | and classifying? | | | |   a.  service | | --- ----- --------------- | |   b.  goods | |   c.  exchange rate | |   d.  technology | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 42. During what economic period does unemployment begin to rise? | | | |   a.  recovery | | --- ----- --------------- | |   b.  recession | |   c.  prosperity | |   d.  retrogression | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 43. What type of trade barrier is being used when governments try to | | protect the private domestic industries by providing them financial | | support? | | | |   a.  embargo | | --- ----- ------------------- | |   b.  protective tariff | |   c.  subsidy | |   d.  import quota | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 44. Why are mail surveys an unreliable means of gathering primary | | data in many foreign countries? | | | |   a.  opinionated nature of target samples | | --- ----- ------------------------------------------------- | |   b.  reticence of people in presence of others | |   c.  low literacy rates | |   d.  lack of basic telecommunications infrastructure | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 45. Which of the following involves paying search engines, such as | | Google, a fee to make sure the company's listing appears toward the | | top of the search results? | | | |   a.  search engine optimization | | --- ----- ---------------------------- | |   b.  page ranking | |   c.  search marketing | |   d.  contextual advertising | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 46. What kind of data is collected and published by organizations | | such as trade associations or general business magazines? | | | |   a.  primary | | --- ----- ---------- | |   b.  external | |   c.  internal | |   d.  private | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 47. Which of the following is an online journal for an individual or | | organization? | | | |   a.  blog | | --- ----- ---------------- | |   b.  social network | |   c.  bulletin board | |   d.  wiki | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 48. Dell is famous for its build-to-order computers; however, the | | company decided to sell prebuilt computers in China's retail stores. | | What is this a result of? | | | |   a.  global marketing strategy | | --- ----- ----------------------------------- | |   b.  multinational marketing strategy | |   c.  countertrade policy | |   d.  multi-domestic marketing strategy | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 49. What federal organization has the broadest powers of any | | organization to influence the assignment of patents and trademarks in | | Canada? | | | |   a.  the Canadian Radio-television Telecommunications Commissi | | on | | --- ----- --------------------------------------------------------- | | ---- | |   b.  the Consumer Products Safety Commission | |   c.  Health Canada | |   d.  the Canadian Intellectual Property Office | +-----------------------------------------------------------------------+ +-----------------------------------------------------------------------+ | 50. Which question would NOT likely be considered when deciding | | whether to manufacture needed parts and equipment in-house? | | | |   a.  Do we have the needed capability to manufacture this equi | | pment? | | --- ----- --------------------------------------------------------- | | --------------- | |   b.  Can someone else do this job better than we can? | |   c.  Can someone else do this work cheaper than we can? | |   d.  Do we create new distribution systems by manufacturing th | | is equipment? | +-----------------------------------------------------------------------+ **[Answer Key]** --------- 1. True --------- ---------- 2. False ---------- --------- 3. True --------- --------- 4. True --------- ---------- 5. False ---------- --------- 6. True --------- ---------- 7. False ---------- --------- 8. True --------- --------- 9. True --------- ---------- 10. True ---------- ------- 11. b ------- ------- 12. b ------- ------- 13. c ------- ------- 14. c ------- ------- 15. d ------- ------- 16. d ------- ------- 17. a ------- ------- 18. c ------- ------- 19. c ------- ------- 20. c ------- ------- 21. a ------- ------- 22. d ------- ------- 23. a ------- ------- 24. c ------- ------- 25. a ------- ------- 26. b ------- ------- 27. c ------- ------- 28. c ------- ------- 29. c ------- ------- 30. a ------- ------- 31. b ------- ------- 32. d ------- ------- 33. c ------- ------- 34. a ------- ------- 35. d ------- ------- 36. c ------- ------- 37. c ------- ------- 38. c ------- ------- 39. d ------- ------- 40. c ------- ------- 41. a ------- ------- 42. b ------- ------- 43. c ------- ------- 44. c ------- ------- 45. c ------- ------- 46. d ------- ------- 47. a ------- ------- 48. d ------- ------- 49. d ------- ------- 50. d -------