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MKT 421 Final Exam 4

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1) 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.
2) For Tesla, a new firm that makes an electric sports car, estimating how many
competitors will make electric vehicles and what kinds they will make, is:
A. A part of marketing.
B. One of the universal functions of innovation.
C. A production activity.
D. An example of the micro-macro dilemma.
3) According to the text, marketing means:
A. Advertising.
B. Much more than selling and advertising.
C. Selling.
D. Producing and selling.
4) Which of the following statements regarding marketing strategies is FALSE?
A. 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.
B. It is useful to think of the marketing strategy planning process as a narrowing-down
process.
C. 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.
D. Developing successful marketing strategies does not need to be a hit-or-miss
proposition.
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. Product development.
B. Combination.
C. Market penetration.

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D. Market 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. Product development.
B. Market penetration.
C. Diversification.
D. Market development.
7) Product is NOT concerned with:
A. Packaging.
B. Quality level.
C. Branding.
D. Wholesale price.
8) The marketing mix
A. Includes four variables—advertising, personal selling, customer service, and sales
promotion.
B. Includes four variables—People, Place, Promotion, and Price.
C. Includes the target market
D. Helps to organize the marketing strategy decision areas.
9) The four Ps of a marketing mix are:
A. Product, Place, Promotion, and Price
B. Production, Personnel, Price, and Physical Distribution
C. Promotion, Production, Price, and People
D. Product, Price, Promotion, and Profit
10) Dell, Inc. wants to offer customers televisions in addition to computers. This
is a change in their _____________________
A. promotional.
B. pricing.
C. product.
D. personnel.
11) A firm's decisions regarding channel type, market exposure, and kinds of
intermediaries would fall under the marketing mix variable of
A. Place.
B. Product.
C. Price.
D. Promotion.
12) When one considers the strategy decisions organized by the four Ps,
branding is related to packaging as:

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