Marketing Midterms Reviewer v50

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Review Questions for Marketing Management

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Marketing Midterms Reviewer v50

  1. 1. LEARNING by COACHING Midterm Exam Reviewer for Marketing Management from Questions submitted by v50 students Compiled and Edited byProf. Remigio Joseph A. De Ungria Jr., MBA Ateneo Graduate School of Business
  2. 2. Professor’s Note:These test questions were…. Made by students, for students. Selected from the hundreds of questions Chosen since these demonstrate key marketing concepts Posted on-line ahead of the test, to encourage students to prepare for the midterms instead of using common sense and luck. May be modified during the actual exam so that the right answer becomes different.
  3. 3. Exam Tip:Learn the ConceptDon’t Memorize the Answer
  4. 4. 1. Marketing is meeting ___ profitably.(use AGSB class definition not Kotler’s)A. NeedsB. WantsC. DemandsD. Needs, Wants or DemandsE. Stated and Unstated Needs 4
  5. 5. 1. Marketing is meeting ___ profitably.(use AGSB class definition not Kotler’s)A. NeedsB. WantsC. DemandsD. Needs, Wants or DemandsE. Stated and Unstated Needs 5
  6. 6. 2. Services have these inherentcharacteristics exceptA. VariabilityB. PerishabilityC. MeasurabilityD. IntangibilityE. Separability 6
  7. 7. 2. Services have these inherentcharacteristics exceptA. VariabilityB. PerishabilityC. MeasurabilityD. IntangibilityE. Separability 7
  8. 8. 3. Which of the following is true?A. Direct marketing is a form of mass communicationB. Word of mouth is 1 of the accepted modes of marketing communicationC. Advertising is a direct communication methodD. Sales promotion is equally important for consumer and industrial goodsE. Public Relations targets an immediate product sale. 8
  9. 9. 3. Which of the following is true?A. Direct marketing is a form of mass communicationB. Word of mouth is 1 of the accepted modes of marketing communicationC. Advertising is a direct communication methodD. Sales promotion is equally important for consumer and industrial goodsE. Public Relations targets an immediate product sale. 9
  10. 10. 4. Doctors seeing patients is anexample ofA. Pure productB. Pure serviceC. Hybrid of product and serviceD. Intangible ProductE. Tangible Service 10
  11. 11. 4. Doctors seeing patients is anexample ofA. Pure productB. Pure serviceC. Hybrid of product and serviceD. Intangible ProductE. Tangible Service 11
  12. 12. 5. Kotler considers this as the 5th P of themarketing mixA. ProfitsB. ProcessC. PotentialD. PackagingE. People 12
  13. 13. 5. Kotler considers this as the 5th P of themarketing mixA. ProfitsB. ProcessC. PotentialD. PackagingE. People 13
  14. 14. TOP 10 LEARNING QUESTIONS in CHAPTER 2: Developing Marketing Strategies & Plans TEAM 14
  15. 15. 6. Which of the following are false about core competencies? A. It is a source of competitive advantageB. It has applications in a wide variety of markets C. It is difficult to imitate D. It can obtain better quality and lower costsE. 2 Firms can have the same core compentencies
  16. 16. 6. Which of the following are false about core competencies? A. It is a source of competitive advantageB. It has applications in a wide variety of markets C. It is difficult to imitate D. It can obtain better quality and lower costsE. 2 Firms can have the same core compentencies
  17. 17. 7. To ensure execution of right activities, marketers must give priority to- A. Holistic marketing B. Core competencies C. Strategic planningD. Value delivery process E. Market Research
  18. 18. 7. To ensure execution of right activities, marketers must give priority to- A. Holistic marketing B. Core competencies C. Strategic planningD. Value delivery process E. Market Research
  19. 19. TOP 10 LEARNING QUESTIONS CHAPTER 4: CONDUCTING MARKET RESEARCH AND FORECASTING DEMAND
  20. 20. Marketing research aims toproduce _______ into thecustomers’ attitudes and buyingbehavior. a. observations b. patterns c. insights d. relationships
  21. 21. Marketing research aims toproduce _______ into thecustomers’ attitudes and buyingbehavior. a. observations b. patterns c. insights d. relationships
  22. 22. The marketing research processinvolves the following steps,except: a. Defining a problem b. Collecting information c. Validate information d. Making a decision
  23. 23. The marketing research processinvolves the following steps,except: a. Defining a problem b. Collecting information c. Validate information d. Making a decision
  24. 24. The following are ways to collectprimary data, except: a. Surveys b. Focus group discussion c. Published data d. Experiments
  25. 25. The following are ways to collectprimary data, except: a. Surveys b. Focus group discussion c. Published data d. Experiments
  26. 26. TOP 10 Learning Questions for Chapter 5Creating Customer Value, Satisfaction and Loyalty
  27. 27. 11. _________ describes the net present valueof the stream of future profits expected overthe customers lifetime purchases.A. Customer Perceived Lifetime ScoreB. Customer Lifetime SatisfactionC. Customer’s Repeat SalesD. Customer Lifetime EquityE. Customer Lifetime Value 27
  28. 28. 11. _________ describes the net present valueof the stream of future profits expected overthe customers lifetime purchases.A. Customer Perceived Lifetime ScoreB. Customer Lifetime SatisfactionC. Customer’s Repeat SalesD. Customer Lifetime EquityE. Customer Lifetime Value 28
  29. 29. 12. One problem that can deter a firm fromeffectively using CRM is:A. Building customer databases can be expensiveB. Not all customers want a relationship with the companyC. Getting everyone in the company to be customer- orientedD. Assumptions of CRM may not always hold trueE. All of the above 29
  30. 30. 12. One problem that can deter a firm fromeffectively using CRM is:A. Building customer databases can be expensiveB. Not all customers want a relationship with the companyC. Getting everyone in the company to be customer- orientedD. Assumptions of CRM may not always hold trueE. All of the above 30
  31. 31. TOP 10 Learning Questions forAnalyzing Consumer Markets
  32. 32. 13. _____ is the fundamental determinant of a personswants and behavior.A. CultureB. PersonalityC. ReligionD. Social Influences and EnvironmentE. Personal Attitudes and Beliefs 32
  33. 33. 13. _____ is the fundamental determinant of a personswants and behavior.A. CultureB. PersonalityC. ReligionD. Social Influences and EnvironmentE. Personal Attitudes and Beliefs 33
  34. 34. 14. _________ is the specific mix of humantraits that we can attribute to a particularbrandA. Brand AssociationB. Brand PersonalityC. Brand TraitsD. Brand LifestyleE. Brand Equity 34
  35. 35. 14. _________ is the specific mix of humantraits that we can attribute to a particularbrandA. Brand AssociationB. Brand PersonalityC. Brand TraitsD. Brand LifestyleE. Brand Equity 35
  36. 36. 15. People that are more likely to noticestimuli that relate to a current need isA. Selective RetentionB. Subliminal PerceptionC. Selective AttentionD. Selective DistortionE. Aided Awareness 36
  37. 37. 15. People that are more likely to noticestimuli that relate to a current need isA. Selective RetentionB. Subliminal PerceptionC. Selective AttentionD. Selective DistortionE. Aided Awareness 37
  38. 38. TOP 10 Learning Questions for :Chapter 7 Analyzing BusinessMarketing
  39. 39. 16 .The demand for business goods isultimately derived from the demand forconsumer goods. For this reason , thebusiness marketer must closely monitor the___ of ultimate consumers. A. Preference B. Buying power C. Desires D. Buying pattern E. Needs and Wants 39
  40. 40. 16 .The demand for business goods isultimately derived from the demand forconsumer goods. For this reason , thebusiness marketer must closely monitor the___ of ultimate consumers. A. Preference B. Buying power C. Desires D. Buying pattern E. Needs and Wants 40
  41. 41. 17. Business markets generally havethe following characteristics except:A. Larger buyersB. Fewer buyersC. Geographically concentrated marketsD. Concentrated Buying InfluenceE. Derived Demand 41
  42. 42. 17. Business markets generally havethe following characteristics except:A. Larger buyersB. Fewer buyersC. Geographically concentrated marketsD. Concentrated Buying InfluenceE. Derived Demand 42
  43. 43. 18. The following are all part of the buyingcenter except:A. SellersB. InitiatorsC. DecidersD. InfluencersE. Gatekeeper 43
  44. 44. 18. The following are all part of the buyingcenter except:A. SellersB. InitiatorsC. DecidersD. InfluencersE. Gatekeeper 44
  45. 45. Top 10 Questions for Chapter 8:Identifying Market Segments and Targets
  46. 46. 19. In _____ segmentation, buyers are divided into groups on the basis of their knowledge of, attitude toward, use of, or response to a product.a) psychographicb) behavioralc) lifestyled) attitudinale) strategic p.263
  47. 47. 19. In _____ segmentation, buyers are divided into groups on the basis of their knowledge of, attitude toward, use of, or response to a product.a) psychographicb) behavioralc) lifestyled) attitudinale) strategic p.263
  48. 48. Crafting The Brand Positioning
  49. 49. 20
  50. 50. 20
  51. 51. 21
  52. 52. 21
  53. 53. TOP 10 LearningQuestions for Chapter 11Dealing with Competition
  54. 54. 22. Competitors is define as companies that satisfies the same customer______A. WantsB. NeedsC. DemandsD. Needs, Wants or DemandsE. Stated and Unstated Needs 54
  55. 55. 22. Competitors is define as companies that satisfies the same customer______A. WantsB. NeedsC. DemandsD. Needs, Wants or DemandsE. Stated and Unstated Needs 55
  56. 56. 23. In analyzing competition, companies mustdetermine the following except:A. StrengthB. WeaknessC. ObjectiveD. StrategyE. Opportunities 56
  57. 57. 23. In analyzing competition, companies mustdetermine the following except:A. StrengthB. WeaknessC. ObjectiveD. StrategyE. Opportunities 57
  58. 58. 24. Increasing the level of product consumption is anexample of:A. Defending market share strategyB. Expanding market share strategyC. Expanding total market strategyD. Market Follower strategyE. Market Nicher strategy 58
  59. 59. 24. Increasing the level of productconsumption is an example of:A. Defending market share strategyB. Expanding market share strategyC. Expanding total market strategyD. Market Follower strategyE. Market Nicher strategy 59
  60. 60. Chapter 12:Setting Product Strategy
  61. 61. 25. Which one of the 4 is not includedin the five product levels?A. Potential ProductB. Basic ProductC. Internal ProductD. Core BenefitE. Extended Product
  62. 62. 25. Which one of the 4 is not includedin the five product levels?A. Potential ProductB. Basic ProductC. Internal ProductD. Core BenefitE. Extended Product
  63. 63. 26. Packaging aims for the followingobjectives except:A. Assist at-home storageB. Facilitate product transportationC. Convey descriptive and persuasive informationD. Build consumer loyaltyE. Protect the product and its contents
  64. 64. 26. Packaging aims for the followingobjectives except:A. Assist at-home storageB. Facilitate product transportationC. Convey descriptive and persuasive informationD. Build consumer loyaltyE. Protect the product and its contents
  65. 65. TOP 10 LearningQuestions for Chapter 13 Designing and Managing Services
  66. 66. 27. These strategies can produce bettermatch between demand and supply in aservice business, except?A. Differential pricingB. Reservation systemC. Nonpeak demandD. Complementary servicesE. Customer Satisfaction Monitoring systems 66
  67. 67. 27. These strategies can produce bettermatch between demand and supply in aservice business, except?A. Differential pricingB. Reservation systemC. Nonpeak demandD. Complementary servicesE. Customer Satisfaction Monitoring systems 67
  68. 68. 28. Which of the following is false?A. Top service companies are “customer obsessed”.B. The best service providers set high service quality standards.C. Consumers value convenience in services.D. Management have a thorough commitment to service quality.E. Top firms audit only their own service performance. 68
  69. 69. 28. Which of the following is false?A. Top service companies are “customer obsessed”.B. The best service providers set high service quality standards.C. Consumers value convenience in services.D. Management have a thorough commitment to service quality.E. Top firms audit only their own service performance. 69
  70. 70. 29. What is the supply strategy of self-service gas stations?A. Part-time employeesB. Peak-time efficiencyC. Increased customer participationD. Shared servicesE. Facilities for future expansion 70
  71. 71. 29. What is the supply strategy of self-service gas stations?A. Part-time employeesB. Peak-time efficiencyC. Increased customer participationD. Shared servicesE. Facilities for future expansion 71
  72. 72. TOP 10 LearningQuestions for Developing PricingStrategies and Programs Chapter 14
  73. 73. 30. Back-to-school sales at NationalBookstore is an example ofA. Differentiated PricingB. Special Discount PricingC. Special-event PricingD. Promotional PricingE. Price Discounts and Allowances Pricing 73
  74. 74. 30. Back-to-school sales at NationalBookstore is an example ofA. Differentiated PricingB. Special Discount PricingC. Special-event PricingD. Promotional PricingE. Price Discounts and Allowances Pricing 74
  75. 75. 31. Is an example ofA. Image PricingB. Differentiated PricingC. Channel PricingD. Product-form PricingE. Customer-segment Pricing 75
  76. 76. 31. Is an example ofA. Image PricingB. Differentiated PricingC. Channel PricingD. Product-form PricingE. Customer-segment Pricing 76
  77. 77. TOP 10 LearningQuestions for Chapter 16 Managing Retailing, Wholesaling, and Logistics
  78. 78. KOTLER P.482 Paragraph 232. Selling to final consumersmay be done by a ___.A. ManufacturerB. WholesalerC. RetailerD. Manufacturer, Wholesaler, or RetailerE. Wholesaler or Retailer 78
  79. 79. KOTLER P.48232. Selling to final consumers may be Paragraph 2done by a ___.A. ManufacturerB. WholesalerC. RetailerD. Manufacturer, Wholesaler, or RetailerE. Wholesaler or Retailer 79
  80. 80. 33. Studying market logistics means finding the ___ way to deliver value.A. least-cost KOTLER P.502 LAST SECTIONB. fastestC. most customer service -orientedD. most ethicalE. most efficient 80
  81. 81. 33. Studying market logistics means finding the ___ way to deliver value.A. least-cost KOTLER P.502 LAST SECTIONB. fastestC. most customer service -orientedD. most ethicalE. most efficient 81
  82. 82. TOP 10 LearningQuestions for Chapter 18 Managing Mass Communications
  83. 83. 34. Which factor has little or no effect onthe mass communications budget A. Consumer base (number of consumers) B. Market Share C. Competition D. Stage in Product Life Cycle E. Product Pricing 83
  84. 84. 34. Which factor has little or no effect onthe mass communications budget A. Consumer base (number of consumers) B. Market Share C. Competition D. Stage in Product Life Cycle E. Product Pricing 84
  85. 85. 35. Which of the following statements is false?A. The Percentage of Sales Method, while commonly used is not the best way to set the IMC budget.B. Although advertising is treated as a current expense, part of it is really an investment on building brand equity and customer loyaltyC. Media selection is finding the most cost-effective media to deliver the desired number and types of exposures to the target audience.D. Sales promotion consists of a collection of incentive tools to stimulate quicker or greater purchase of a particular product or service.E. Advertising is any form of nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor.
  86. 86. 35. Which of the following statements is false?A. The Percentage of Sales Method, while commonly used is not the best way to set the IMC budget.B. Although advertising is treated as a current expense, part of it is really an investment on building brand equity and customer loyaltyC. Media selection is finding the most cost-effective media to deliver the desired number and types of exposures to the target audience.D. Sales promotion consists of a collection of incentive tools to stimulate quicker or greater purchase of a particular product or service.E. Advertising is any form of nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor.
  87. 87. TOP 10 LearningQuestions for Chapter 21: Tapping into the Global Markets
  88. 88. 36. Which of the following is false?A. One of the advantages of indirect export is less investment.B. Direct export is more risky than direct investment.C. Direct investment is the ultimate form of foreign involvementD. Control is shared by the foreign & local firms in a joint ventureE. Franchising is a form of licensing 88
  89. 89. 36. Which of the following is false?A. One of the advantages of indirect export is less investment.B. Direct export is more risky than direct investment.C. Direct investment is the ultimate form of foreign involvementD. Control is shared by the foreign & local firms in a joint ventureE. Franchising is a form of licensing 89
  90. 90. 37. Bench t-shirts, with no changes indesign, color or appearance, soldoverseas is an example ofA. Straight extensionB. Direct adaptationC. Thinking local, acting globalD. Market penetrationE. Brand consistency 90
  91. 91. 37. Bench t-shirts, with no changes indesign, color or appearance, soldoverseas is an example ofA. Straight extensionB. Direct adaptationC. Thinking local, acting globalD. Market penetrationE. Brand consistency 91
  92. 92. 38. McDonald’s “hamdesal” is anexample ofA. Product extensionB. Product adaptationC. Product inventionD. Communication adaptationE. Dual adaptation 92
  93. 93. 38. McDonald’s “hamdesal” is anexample ofA. Product extensionB. Product adaptationC. Product inventionD. Communication adaptationE. Dual adaptation 93

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