MKT 3301 FINAL QUESTIONS AND VERIFIED
ANSWERS
The most risky and challenging opportunities usually involve - Answers - diversification
The arrowpoint Company has just modified and enlarged its product line to meet the
changing needs of its current customers . This is an example of "market development" -
Answers - false
A producer of frozen pasta dinners finds that its current target customers select among
its frozen pasta dinners, going to a pizza restaurant, or staying home and eating and
Italian sub sandwich. So the company chain setup a pizza restaurants that also serve
Italian sub sandwiches. This seems to be an effort at - Answers - product development
Often attractive opportunities are fairly close to markets the firm already knows -
Answers - true
Wendy's continues to test possible new toppings for Hamburgers including grilled
mushrooms and provolone cheese. This suggests that Wendy's is pursuing - Answers -
product development
A market strategy - Answers - specifies a target market and a related marketing mix
"product" is concerned with - Answers - All of these might be involved with Product
If customers in other countries are interest in the products a firm offers, or could offer
serving them may improve economies of scales - Answers - true
The single most important factor in a screening possible marketing opportunities is the
long-run trends facing the company - Answers - false
Identify the incorrect statement regarding target marketing - Answers - mass marketers
cannot do target marketing
Which of the following refers to a fairly homogeneous (similar) group of customers to
whom a company wishes to appeal - Answers - target market
Which of the following statements about target marketing is incorrect - Answers - target
marketing is associated with the typical production-oriented approach that aims at
everyone with the same marketing mix
, A company has moved into the "marketing company era" when in addition to short-run
marketing planning the total company effort is guided by the marketing concept -
Answers - true
Identify the primary role of a public interest group like the Center for Science in the
Public Interest (CSPI) in market-directed economies - Answers - it is a consumer
watchdog group that pressures food companies to make healthier products
Marketing is the most important in a pure substance economy - Answers - false
Marketing is both a set of activities performed by organization and social process -
Answers - false
From a micro view marketing is a set of ... - Answers - activities performed by an
individual organization to satisfy customers
In a command economy the individual decisions of many producers and consumers
make the macro level decisions for the whole economy - Answers - false
An effective macro marketing system matches heterogeneous supply with
heterogeneous demand - Answers - true
The marketing concept applies to nonprofit organizations as well as to businesses -
Answers - true
The marketing concept was quickly accepted especially among producers of industrial
commodities like steel and glass - Answers - false
The universal function of marketing does not include - Answers - producing
A marketing exchange is a single transaction between a firm and a customer, nothing
more - Answers - false
Marketing activities should be of no interest to nonprofit organizations - Answers - false
Adopting the marketing concept rarely require any changed in a firm's attitude,
organizations structure or management methods and procedures - Answers - false
When setting objectives for the whole firm top management should - Answers - involve
marketing manager in the objective setting
When considering international markets income is usually not an important
demographic dimensions - Answers - false
Spying on competitors to obtain trade secrets raises moral issues but it is not illegal -
Answers - false
ANSWERS
The most risky and challenging opportunities usually involve - Answers - diversification
The arrowpoint Company has just modified and enlarged its product line to meet the
changing needs of its current customers . This is an example of "market development" -
Answers - false
A producer of frozen pasta dinners finds that its current target customers select among
its frozen pasta dinners, going to a pizza restaurant, or staying home and eating and
Italian sub sandwich. So the company chain setup a pizza restaurants that also serve
Italian sub sandwiches. This seems to be an effort at - Answers - product development
Often attractive opportunities are fairly close to markets the firm already knows -
Answers - true
Wendy's continues to test possible new toppings for Hamburgers including grilled
mushrooms and provolone cheese. This suggests that Wendy's is pursuing - Answers -
product development
A market strategy - Answers - specifies a target market and a related marketing mix
"product" is concerned with - Answers - All of these might be involved with Product
If customers in other countries are interest in the products a firm offers, or could offer
serving them may improve economies of scales - Answers - true
The single most important factor in a screening possible marketing opportunities is the
long-run trends facing the company - Answers - false
Identify the incorrect statement regarding target marketing - Answers - mass marketers
cannot do target marketing
Which of the following refers to a fairly homogeneous (similar) group of customers to
whom a company wishes to appeal - Answers - target market
Which of the following statements about target marketing is incorrect - Answers - target
marketing is associated with the typical production-oriented approach that aims at
everyone with the same marketing mix
, A company has moved into the "marketing company era" when in addition to short-run
marketing planning the total company effort is guided by the marketing concept -
Answers - true
Identify the primary role of a public interest group like the Center for Science in the
Public Interest (CSPI) in market-directed economies - Answers - it is a consumer
watchdog group that pressures food companies to make healthier products
Marketing is the most important in a pure substance economy - Answers - false
Marketing is both a set of activities performed by organization and social process -
Answers - false
From a micro view marketing is a set of ... - Answers - activities performed by an
individual organization to satisfy customers
In a command economy the individual decisions of many producers and consumers
make the macro level decisions for the whole economy - Answers - false
An effective macro marketing system matches heterogeneous supply with
heterogeneous demand - Answers - true
The marketing concept applies to nonprofit organizations as well as to businesses -
Answers - true
The marketing concept was quickly accepted especially among producers of industrial
commodities like steel and glass - Answers - false
The universal function of marketing does not include - Answers - producing
A marketing exchange is a single transaction between a firm and a customer, nothing
more - Answers - false
Marketing activities should be of no interest to nonprofit organizations - Answers - false
Adopting the marketing concept rarely require any changed in a firm's attitude,
organizations structure or management methods and procedures - Answers - false
When setting objectives for the whole firm top management should - Answers - involve
marketing manager in the objective setting
When considering international markets income is usually not an important
demographic dimensions - Answers - false
Spying on competitors to obtain trade secrets raises moral issues but it is not illegal -
Answers - false
