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MKT 421 Final Exam 3

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1) According to the text, marketing means:
A. Selling.
B. Much more than selling and advertising.
C. Producing and selling.
D. Advertising.
2) Predicting what types of bicycles different customers will want and deciding
which of these customers the business will try to satisfy are activities a firm
should do as part of
A. A command economy.
B. Production.
C. Marketing.
D. Making goods or performing services.
3) Which of the following statements best describes the modern view of
marketing?
A. Marketing should take over production, accounting, and financial services within a
firm.
B. The job of marketing is to get rid of whatever the company is producing.
C. Marketing is concerned with generating a single exchange between a firm and a
customer.
D. Marketing begins with anticipating potential customer needs.
4) Which of the following statements regarding marketing strategies is FALSE?
A. These strategies must meet the needs of target customers, and a firm is likely
to get a competitive advantage if it just meets needs in the same way as some
other firm.
B. It is useful to think of the marketing strategy planning process as a narrowing-down
process.
C. Developing successful marketing strategies does not need to be a hit-or-miss
proposition.
D. These strategies require decisions about the specific customers the firm will target
and the marketing mix the firm will develop to appeal to that target market.
5) To compete more successfully with its many competitors offering packaged
cookies, Famous Amos added its own line of extra chunky premium cookies. This
seems to be an effort at:
A. Market penetration.

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B. Combination.
C. Market development.
D. Product development.
6) Professional Dental Supply has been successfully selling dental instruments to
dentists for the past 20 years, and has developed strong customer relations.
When looking for new marketing opportunities, Professional Dental Supply will
most likely look first at
A. Diversification.
B. Market penetration.
C. Market development.
D. Product development.
7) Which of the following is true?
A. The product P in the marketing mix stands for both physical goods and tangible
B. The product P in the marketing mix stands for only tangible merchandise.
C. The product P in the marketing mix stands for only physical goods.
D. The product P in the marketing mix stands for both physical goods and
services.
8) The marketing mix
A. Includes four variables—advertising, personal selling, customer service, and sales
promotion.
B. Helps to organize the marketing strategy decision areas.
C. Includes four variables—People, Place, Promotion, and Price.
D. Includes the target market
9) The four Ps of a marketing mix are:
A. Product, Place, Promotion, and Price
B. Product, Price, Promotion, and Profit
C. Production, Personnel, Price, and Physical Distribution
D. Promotion, Production, Price, and People
10) Hewlett-Packard sells personal computers through specialty computer stores,
electronics superstores, and its own Internet site. The marketing mix variable that
is being considered here is:
A. Placement.
B. Product.
C. Pricing.
D. Promotional.
11) When one considers the strategy decisions organized by the four Ps,
branding is related to packaging as:
A. Personal selling is to mass selling.
B. Store location is to sales force selection.
C. Branding is to pricing.

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1) According to the text, marketing means: A. Selling. B. Much more than selling and advertising. C. Producing and selling. D. Advertising. 2) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of A. A command economy. B. Production. C. Marketing. D. Making goods or performing services. 3) Which of the following statements best describes the modern view of marketing? A. Marketing should take over production, accounting, and financial services within a firm. B. The job of marketing is to get rid of whatever the company is producing. C. Marketing is concerned with generating a single exchange between a firm and a customer. D. Marketing begins with anticipating potential customer needs. 4) Which of the following statements regarding marketing strategies is FALSE? A. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm. B. It is useful to think of the marketing strategy planning process as a narrowing-down process. C. Developing successful marketing strategies does not need to be a hit-or-miss proposition. D. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market. 5) To compete more successfully with its many compe ...
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