MARK 201 EXAM 1 STUDY GUIDE - MULTIPLE CHOICE
UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Question:
Which of the following statements about marketing is
TRUE?
a. Because marketing is complicated most firms avoid
using it.
b. Marketing is generally successful as long as you fund
it, and most new products succeed.
c. Marketing isn't always easy; thousands of new products
fail each year.
d. Marketing is fairly foolproof if you know and apply
traditional formulas.
Answer:
c. Marketing isn't always easy; thousands of new products fail each year.
Question:
How does having knowledge of marketing and its many
applications help an individual? (Select all that apply)
a. It can help the individual in career planning.
b. It can help the individual be a more informed citizen.
c. It can help the individual understand world events.
d. It can make the individual a better consumer.
Answer:
a. It can help the individual in career planning.
b. It can help the individual be a more informed citizen.
d. It can make the individual a better consumer.
Question:
The activity for creating, communicating, delivering, and
exchanging offerings that have value for customers,
clients, partners, and society at large is called ...
Answer:
MARKETING
Question:
Environmental forces that shape the nature of an
organization's actions include social, economic,
technological, competitive, and _____ forces.
a. ethical
b. relationship
c. regulatory
d. managerial
Answer:
,c. regulatory
Question:
Which of the following factors is not required for
marketing to occur?
a. two or more parties with unsatisfied needs
b. a way for the parties to communicate
c. something to exchange
d. a retail location
e. the desire and ability to satisfy these needs
Answer:
d. a retail location
Question:
Which statement supports the idea that good marketing
is not an easy task?
a. Thousands of new products fail in the marketplace
each year.
b. The number of new products that enter the
marketplace each year is relatively small.
c. The promotion of new products is being handled by
the developers of the product and not the marketing
team.
Answer:
a. Thousands of new products fail in the marketplace each year.
Question:
To better understand the needs of prospective
customers, marketers use ______.
a. corporate entrepreneurship
b. customer loyalty
c. executive leadership
d. marketing research
Answer:
d. marketing research
Question:
Studying marketing should help you to ______.
a. identify all potential marketing failures before they
occur
b. be a more informed citizen when interacting with
businesses
c. understand the principles of financial leverage
d. care more deeply about environmental causes
Answer:
b. be a more informed citizen when interacting with businesses
Question:
, Firms develop products and services with the
understanding that their ultimate goal is to ______ their
customers' needs.
a. create
b. satisfy
c. accept
d. identify
Answer:
b. satisfy
Question:
(Select all that apply)
According to the AMA definition of marketing, who
benefits from marketing activities?
a. society at large
b. government regulators
c. customers
d. partners
Answer:
a. society at large
(Reason) : Society can benefit from the outcomes of marketing, and is included in
the definition of marketing, along with those that benefit more directly
c. customers
d. partners
Question:
The primary interest of marketers when focusing on a
target market is ______.
a. concentrating on the needs of some potential
consumer
b. selling the product to every customer
c. utilizing every promotional tool available to promote a
product
d. focusing on wealthy buyers
Answer:
a. concentrating on the needs of some potential consumer
Question:
Marketing typically impacts which of the following
groups in society? (Select all that apply)
a. shareholders
b. suppliers
c. regulatory agencies
d. customers
Answer:
a. shareholders
b. suppliers
d. customers
UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Question:
Which of the following statements about marketing is
TRUE?
a. Because marketing is complicated most firms avoid
using it.
b. Marketing is generally successful as long as you fund
it, and most new products succeed.
c. Marketing isn't always easy; thousands of new products
fail each year.
d. Marketing is fairly foolproof if you know and apply
traditional formulas.
Answer:
c. Marketing isn't always easy; thousands of new products fail each year.
Question:
How does having knowledge of marketing and its many
applications help an individual? (Select all that apply)
a. It can help the individual in career planning.
b. It can help the individual be a more informed citizen.
c. It can help the individual understand world events.
d. It can make the individual a better consumer.
Answer:
a. It can help the individual in career planning.
b. It can help the individual be a more informed citizen.
d. It can make the individual a better consumer.
Question:
The activity for creating, communicating, delivering, and
exchanging offerings that have value for customers,
clients, partners, and society at large is called ...
Answer:
MARKETING
Question:
Environmental forces that shape the nature of an
organization's actions include social, economic,
technological, competitive, and _____ forces.
a. ethical
b. relationship
c. regulatory
d. managerial
Answer:
,c. regulatory
Question:
Which of the following factors is not required for
marketing to occur?
a. two or more parties with unsatisfied needs
b. a way for the parties to communicate
c. something to exchange
d. a retail location
e. the desire and ability to satisfy these needs
Answer:
d. a retail location
Question:
Which statement supports the idea that good marketing
is not an easy task?
a. Thousands of new products fail in the marketplace
each year.
b. The number of new products that enter the
marketplace each year is relatively small.
c. The promotion of new products is being handled by
the developers of the product and not the marketing
team.
Answer:
a. Thousands of new products fail in the marketplace each year.
Question:
To better understand the needs of prospective
customers, marketers use ______.
a. corporate entrepreneurship
b. customer loyalty
c. executive leadership
d. marketing research
Answer:
d. marketing research
Question:
Studying marketing should help you to ______.
a. identify all potential marketing failures before they
occur
b. be a more informed citizen when interacting with
businesses
c. understand the principles of financial leverage
d. care more deeply about environmental causes
Answer:
b. be a more informed citizen when interacting with businesses
Question:
, Firms develop products and services with the
understanding that their ultimate goal is to ______ their
customers' needs.
a. create
b. satisfy
c. accept
d. identify
Answer:
b. satisfy
Question:
(Select all that apply)
According to the AMA definition of marketing, who
benefits from marketing activities?
a. society at large
b. government regulators
c. customers
d. partners
Answer:
a. society at large
(Reason) : Society can benefit from the outcomes of marketing, and is included in
the definition of marketing, along with those that benefit more directly
c. customers
d. partners
Question:
The primary interest of marketers when focusing on a
target market is ______.
a. concentrating on the needs of some potential
consumer
b. selling the product to every customer
c. utilizing every promotional tool available to promote a
product
d. focusing on wealthy buyers
Answer:
a. concentrating on the needs of some potential consumer
Question:
Marketing typically impacts which of the following
groups in society? (Select all that apply)
a. shareholders
b. suppliers
c. regulatory agencies
d. customers
Answer:
a. shareholders
b. suppliers
d. customers
