MKTG 396 Introduction to Marketing Midterm Examination Sample

MKTG 396 Introduction to Marketing Midterm Examination Sample Multiple Choice (100 marks) Read each question carefully and decide which of the choices best answers the question or completes the statement. Each question is worth 2 marks. 1) Which of the following is an accurate description of modern marketing today? A) Marketing is the creation of products for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying producers' needs first. E) Marketing is used by for-profit organizations only. 2) The ________ steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships. A) first two B) first three C) first four D) last three E) last four 3) ________ refers to sellers that pay more attention to their own products than to the benefits and experiences produced by these products. A) Selling myopia B) Marketing management C) Value proposition D) Marketing myopia E) The product concept 4) ________ is the act of obtaining a desired object from someone by offering something in return. A) A value proposition B) Exchange C) Bribery D) Value E) Donation STUDYCLOCK EXAM REVIEW 5) When it comes to communicating with customers, marketers have traditionally asked the question, "How can we influence our customers?" Effective marketers now ask, ________. A) "How can we apply the production concept?" B) "How can our customers influence us?" C) "How can we apply the selling concept?" D) "How can we apply the selling concept using social media?" E) "How can we apply the product concept?" 6) The art and science of choosing target markets and building profitable relationships with them is called ________. A) marketing management B) positioning C) segmentation D) selling E) societal marketing 7) An effective value proposition answers the question ________. A) "Why should I buy your brand rather than a competitor's?" B) "How does your brand benefit me and society?