Principles of Marketing Final Review Ivy |\ |\ |\ |\ |\ |\
Software EXAM QUESTIONS WITH |\ |\ |\ |\
ANSWERS
A Societal Marketing Orientation is: - CORRECT ANSWERS ✔✔a
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philosophy that many companies claim, but few actually practice
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When Arm and Hammer began to promote keeping a box of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
baking soda in the refrigerator to reduce odors, it was pursuing a
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______________ strategy. - CORRECT ANSWERS ✔✔Market
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Penetration
The Framework for Marketing Planning depicts concepts that are
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static in nature. - CORRECT ANSWERS ✔✔FALSE
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When Apple created the iPhone it was pursuing a ___________
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strategy. - CORRECT ANSWERS ✔✔Diversification
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Many companies are developing "green" technologies and
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systems with the goal of reducing negative impact on the
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environment. When a company pursues such a strategy with |\ |\ |\ |\ |\ |\ |\ |\ |\
good intentions, that company can be said to be: - CORRECT
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ANSWERS ✔✔a. trying to practice a Social Market Orientation
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b. attempting to build a sustainable competitive advantage
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c. acting in a socially responsible manner
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d. all of the above <--------
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, When a company decides to reduce product prices due to a deep
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recession, it is reacting to: - CORRECT ANSWERS ✔✔economic
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forces in the external environment
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Four important parts of the marketing process include: product,
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distribution, promotion and price. - CORRECT ANSWERS ✔✔TRUE|\ |\ |\ |\ |\ |\ |\
Marketing is the business function that focuses on maximizing an
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organization's ability to generate revenue. - CORRECT ANSWERS
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✔✔TRUE
When Procter and Gamble introduces another new and improved
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version of Tide, it is pursuing a ______________ strategy. -
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CORRECT ANSWERS ✔✔Product Development |\ |\ |\
Revenue - Expenses = Profit - CORRECT ANSWERS ✔✔True
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The biggest difference between the business and consumer
|\ |\ |\ |\ |\ |\ |\ |\
decision processes is: - CORRECT ANSWERS ✔✔only businesses
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work from a formal preferred supplier list
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The Marketing Research Process is the mechanism used by
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companies to gather information about customers and their
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buying habits. - CORRECT ANSWERS ✔✔TRUE
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In this stage of the Consumer Decision Process, the buyer may
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
decide not to purchase the product and stop the decision process
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Software EXAM QUESTIONS WITH |\ |\ |\ |\
ANSWERS
A Societal Marketing Orientation is: - CORRECT ANSWERS ✔✔a
|\ |\ |\ |\ |\ |\ |\ |\ |\
philosophy that many companies claim, but few actually practice
|\ |\ |\ |\ |\ |\ |\ |\
When Arm and Hammer began to promote keeping a box of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
baking soda in the refrigerator to reduce odors, it was pursuing a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
______________ strategy. - CORRECT ANSWERS ✔✔Market
|\ |\ |\ |\ |\ |\ |\
Penetration
The Framework for Marketing Planning depicts concepts that are
|\ |\ |\ |\ |\ |\ |\ |\ |\
static in nature. - CORRECT ANSWERS ✔✔FALSE
|\ |\ |\ |\ |\ |\
When Apple created the iPhone it was pursuing a ___________
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
strategy. - CORRECT ANSWERS ✔✔Diversification
|\ |\ |\ |\
Many companies are developing "green" technologies and
|\ |\ |\ |\ |\ |\ |\
systems with the goal of reducing negative impact on the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
environment. When a company pursues such a strategy with |\ |\ |\ |\ |\ |\ |\ |\ |\
good intentions, that company can be said to be: - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔a. trying to practice a Social Market Orientation
|\ |\ |\ |\ |\ |\ |\ |\
b. attempting to build a sustainable competitive advantage
|\ |\ |\ |\ |\ |\ |\
c. acting in a socially responsible manner
|\ |\ |\ |\ |\ |\
d. all of the above <--------
|\ |\ |\ |\ |\
, When a company decides to reduce product prices due to a deep
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
recession, it is reacting to: - CORRECT ANSWERS ✔✔economic
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
forces in the external environment
|\ |\ |\ |\
Four important parts of the marketing process include: product,
|\ |\ |\ |\ |\ |\ |\ |\ |\
distribution, promotion and price. - CORRECT ANSWERS ✔✔TRUE|\ |\ |\ |\ |\ |\ |\
Marketing is the business function that focuses on maximizing an
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization's ability to generate revenue. - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔TRUE
When Procter and Gamble introduces another new and improved
|\ |\ |\ |\ |\ |\ |\ |\ |\
version of Tide, it is pursuing a ______________ strategy. -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Product Development |\ |\ |\
Revenue - Expenses = Profit - CORRECT ANSWERS ✔✔True
|\ |\ |\ |\ |\ |\ |\ |\
The biggest difference between the business and consumer
|\ |\ |\ |\ |\ |\ |\ |\
decision processes is: - CORRECT ANSWERS ✔✔only businesses
|\ |\ |\ |\ |\ |\ |\ |\
work from a formal preferred supplier list
|\ |\ |\ |\ |\ |\
The Marketing Research Process is the mechanism used by
|\ |\ |\ |\ |\ |\ |\ |\ |\
companies to gather information about customers and their
|\ |\ |\ |\ |\ |\ |\ |\
buying habits. - CORRECT ANSWERS ✔✔TRUE
|\ |\ |\ |\ |\
In this stage of the Consumer Decision Process, the buyer may
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
decide not to purchase the product and stop the decision process
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
