Marketing MKT 201 Final Exam Review Study Guide and Practice
Questions
d. consumer - correct answer ✔✔ A _______ is the ultimate user of a good or service.
a. stakeholder b. market c. target market d. consumer
c. marketing - correct answer ✔✔ ___________ is the activity, set of institutions, and processes
for creating, communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large
a. demand satisfaction b. competitive advantage building c. marketing d. total quality
management
d. business-to-business - correct answer ✔✔ _____________ marketing is the marketing of
goods and services from one organization to another
a. distributive b. consumer c. customer d. business-to-business
d. the packaging - correct answer ✔✔ Which of the following is part of the product element of
the marketing mix?
a. a quality discount b. a store coupon c. a newspaper advertisement d. the packaging
b. mission statement - correct answer ✔✔ The _____________ for Mothers Against Drunk
Driving (MADD) is to "stop drunk driving, support for the victims of this violent crime, and
prevent underage drinking."
a. operation plan b. mission statement c. portfolio analysis d. market penetration strategy
d. not-for-profit organization - correct answer ✔✔ NGOs, Nongovernmental organizations, are
also known as _________
a. consumer organizations b. public organizations c. private organizations d. not-for-profit
organizations
,d. need - correct answer ✔✔ Chris just landed her dream job but realizes that her college
wardrobe is not going to work for her new professional position. In this situation, Chris has a(n)
_____________
a. benefit b. exchange c. value d. need
c. demand - correct answer ✔✔ Greg Williams now has the buying power to purchase the
computer system he has wanted for the last six months. Greg's wants now has become a(n)
___________
a. need b. necessity c. demand d. exchange
e. poorly conducted Market Research - correct answer ✔✔ The Dark Side of Marketing has
multiple dimensions that include all of the following except:
a. terrorism b. exploited people c. addictive consumption d. illegal activities e. poorly conduced
Market Research
d. causal research - correct answer ✔✔ Marketers use ___________ when they want to
determine if a change in one thing is responsible for a change in something else.
a. ethnography b. predictive techniques c. descriptive research d. causal research
d. countertrade - correct answer ✔✔ Trading firms that work out elaborate deals in which they
trade or barter their products with one another or even supply goods in return for tax breaks
from the local government are using _______________.
a. protectionism b. competitive intelligence c. gray marketing d. countertrade e. inflation
c. tariff - correct answer ✔✔ In February 2000, the United States imposed a tax on imported
steel in an effort to protect about 5,000 jobs. Another name for this levied tax is a(n)
_____________.
a. embargo b. gray tax c. tariff d. import quota e. boycott
, c. economic community - correct answer ✔✔ A(n) ______________ is a group of countries that
have agreed to coordinate trade policies and ease restrictions on the flow of products and
capital across members' borders.
a. monopoly b. group like BRIC c. economic community d. oligopoly
c. protectionism - correct answer ✔✔ U.S. sugar import quotas have existed for more than fifty
years and preserve about half of the U.S. sugar market for domestic producers. these quotas are
examples of __________.
a. tariffs b. nationalization c. protectionism d. expropriation e. disintermediation
a. It has an economy based on agriculture - correct answer ✔✔ In most cases, which of the
following is true about a least developed country (LDC)?
a. it has an economy based on agriculture b. it is landlocked c. it has a viable middle class d. it
has high literacy levels e. it has an advanced economic infrastructure
d. The country has a significant middle class - correct answer ✔✔ Which of the following is a
characteristic of a developing country?
a. the country is moving away from an economy based on industry
b. the market for consumer goods presents little growth potential
c. the nation has an economy based on agriculture
d. the country has a significant middle class
e. the country has an economy based on exporting services
a. monopoly - correct answer ✔✔ In a(n) _________, one seller controls a market.
a. monopoly b. oligopoly c. monopolistic competition d. perfect competition e. natural
competition
b. oligopoly - correct answer ✔✔ In a(n) ___________, there are a relatively small number of
sellers, each holding substantial market share, in a market with many buyers.
Questions
d. consumer - correct answer ✔✔ A _______ is the ultimate user of a good or service.
a. stakeholder b. market c. target market d. consumer
c. marketing - correct answer ✔✔ ___________ is the activity, set of institutions, and processes
for creating, communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large
a. demand satisfaction b. competitive advantage building c. marketing d. total quality
management
d. business-to-business - correct answer ✔✔ _____________ marketing is the marketing of
goods and services from one organization to another
a. distributive b. consumer c. customer d. business-to-business
d. the packaging - correct answer ✔✔ Which of the following is part of the product element of
the marketing mix?
a. a quality discount b. a store coupon c. a newspaper advertisement d. the packaging
b. mission statement - correct answer ✔✔ The _____________ for Mothers Against Drunk
Driving (MADD) is to "stop drunk driving, support for the victims of this violent crime, and
prevent underage drinking."
a. operation plan b. mission statement c. portfolio analysis d. market penetration strategy
d. not-for-profit organization - correct answer ✔✔ NGOs, Nongovernmental organizations, are
also known as _________
a. consumer organizations b. public organizations c. private organizations d. not-for-profit
organizations
,d. need - correct answer ✔✔ Chris just landed her dream job but realizes that her college
wardrobe is not going to work for her new professional position. In this situation, Chris has a(n)
_____________
a. benefit b. exchange c. value d. need
c. demand - correct answer ✔✔ Greg Williams now has the buying power to purchase the
computer system he has wanted for the last six months. Greg's wants now has become a(n)
___________
a. need b. necessity c. demand d. exchange
e. poorly conducted Market Research - correct answer ✔✔ The Dark Side of Marketing has
multiple dimensions that include all of the following except:
a. terrorism b. exploited people c. addictive consumption d. illegal activities e. poorly conduced
Market Research
d. causal research - correct answer ✔✔ Marketers use ___________ when they want to
determine if a change in one thing is responsible for a change in something else.
a. ethnography b. predictive techniques c. descriptive research d. causal research
d. countertrade - correct answer ✔✔ Trading firms that work out elaborate deals in which they
trade or barter their products with one another or even supply goods in return for tax breaks
from the local government are using _______________.
a. protectionism b. competitive intelligence c. gray marketing d. countertrade e. inflation
c. tariff - correct answer ✔✔ In February 2000, the United States imposed a tax on imported
steel in an effort to protect about 5,000 jobs. Another name for this levied tax is a(n)
_____________.
a. embargo b. gray tax c. tariff d. import quota e. boycott
, c. economic community - correct answer ✔✔ A(n) ______________ is a group of countries that
have agreed to coordinate trade policies and ease restrictions on the flow of products and
capital across members' borders.
a. monopoly b. group like BRIC c. economic community d. oligopoly
c. protectionism - correct answer ✔✔ U.S. sugar import quotas have existed for more than fifty
years and preserve about half of the U.S. sugar market for domestic producers. these quotas are
examples of __________.
a. tariffs b. nationalization c. protectionism d. expropriation e. disintermediation
a. It has an economy based on agriculture - correct answer ✔✔ In most cases, which of the
following is true about a least developed country (LDC)?
a. it has an economy based on agriculture b. it is landlocked c. it has a viable middle class d. it
has high literacy levels e. it has an advanced economic infrastructure
d. The country has a significant middle class - correct answer ✔✔ Which of the following is a
characteristic of a developing country?
a. the country is moving away from an economy based on industry
b. the market for consumer goods presents little growth potential
c. the nation has an economy based on agriculture
d. the country has a significant middle class
e. the country has an economy based on exporting services
a. monopoly - correct answer ✔✔ In a(n) _________, one seller controls a market.
a. monopoly b. oligopoly c. monopolistic competition d. perfect competition e. natural
competition
b. oligopoly - correct answer ✔✔ In a(n) ___________, there are a relatively small number of
sellers, each holding substantial market share, in a market with many buyers.
