MCS1000 Final Exam UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS
Which of the following is NOT part of a marketing c) marketers access the effectiveness of their advertising
exchange?
a) sellers provide products or services
b) sellers communicate and facilitate delivery
c) marketers access the effectiveness of their advertising
d) buyers complete the exchange by giving money and
information to the seller
promotion is _____________ by a marketer that informs, d) communication
persuades, and reminds potential buyers about a product
or service to influence their opinions or elicit a response
a) smoke-and-mirrors
b) coercion
c) teasing
d) communication
What must firms do to become value driven? a) share information, balance benefits and costs, and build customer relationships
a) share information, balance benefits and costs, and
build customer relationships
b) set low prices, put profit above service, and use
effective marketing strategies
c) make logistics a priority, expand globally, and always
offer new goods and services
d) keep a vigilant eye on the market-place, undercut
competitors, and provide competitive salaries
, 1. What customers will we serve? 1. target market
2. How can we best serve these customers? 2. value proposition
Which of the following would NOT be considered part of d) customer service representative
a supply chain?
a) consumer
b) retailer
c) manufacturer
d) customer service representative
What is sustainable competitive advantage? C) Something the firm can consistently do better than its competitors, not easily
A) A broad description of the firm's objectives and scope copied.
of its activities.
B) Tool used to evaluate marketing performance.
C) Something the firm can consistently do better than its
competitors, not easily copied.
D) Written document that discusses competitor strengths
and weaknesses, and the firms advantages over them.Test
Your Knowledge
Customer excellence focuses on?A) having products with B) develops value-based strategies for retaining loyal customers and providing
high perceived value and effective branding and excellent customer service.
positioning.
B) develops value-based strategies for retaining loyal
customers and providing excellent customer service.
C) having a good physical location and Internet
presence.
D) efficient operations and excellent supply chain and
human resource management
Which of the following refers to a group of consumers A) Market segment
who respond similarly to a firm's marketing efforts?
A) Market segment
B) Target market
C) Targeting
D) Positioning
One of the keys in place and value delivery is to provide B) merchandise they want at the time they want it
the consumer _______ _.
A) a wide product selection
B) merchandise they want at the time they want it
C) a variety of media communication methods
D) accessible management personnel to handle
complaints
Which of the following is NOT considered a marketing D) Sequential planning
growth strategy?
A) Market penetration
B) Diversification
C) Product development
D) Sequential planning
Which of the following is NOT part of a marketing c) marketers access the effectiveness of their advertising
exchange?
a) sellers provide products or services
b) sellers communicate and facilitate delivery
c) marketers access the effectiveness of their advertising
d) buyers complete the exchange by giving money and
information to the seller
promotion is _____________ by a marketer that informs, d) communication
persuades, and reminds potential buyers about a product
or service to influence their opinions or elicit a response
a) smoke-and-mirrors
b) coercion
c) teasing
d) communication
What must firms do to become value driven? a) share information, balance benefits and costs, and build customer relationships
a) share information, balance benefits and costs, and
build customer relationships
b) set low prices, put profit above service, and use
effective marketing strategies
c) make logistics a priority, expand globally, and always
offer new goods and services
d) keep a vigilant eye on the market-place, undercut
competitors, and provide competitive salaries
, 1. What customers will we serve? 1. target market
2. How can we best serve these customers? 2. value proposition
Which of the following would NOT be considered part of d) customer service representative
a supply chain?
a) consumer
b) retailer
c) manufacturer
d) customer service representative
What is sustainable competitive advantage? C) Something the firm can consistently do better than its competitors, not easily
A) A broad description of the firm's objectives and scope copied.
of its activities.
B) Tool used to evaluate marketing performance.
C) Something the firm can consistently do better than its
competitors, not easily copied.
D) Written document that discusses competitor strengths
and weaknesses, and the firms advantages over them.Test
Your Knowledge
Customer excellence focuses on?A) having products with B) develops value-based strategies for retaining loyal customers and providing
high perceived value and effective branding and excellent customer service.
positioning.
B) develops value-based strategies for retaining loyal
customers and providing excellent customer service.
C) having a good physical location and Internet
presence.
D) efficient operations and excellent supply chain and
human resource management
Which of the following refers to a group of consumers A) Market segment
who respond similarly to a firm's marketing efforts?
A) Market segment
B) Target market
C) Targeting
D) Positioning
One of the keys in place and value delivery is to provide B) merchandise they want at the time they want it
the consumer _______ _.
A) a wide product selection
B) merchandise they want at the time they want it
C) a variety of media communication methods
D) accessible management personnel to handle
complaints
Which of the following is NOT considered a marketing D) Sequential planning
growth strategy?
A) Market penetration
B) Diversification
C) Product development
D) Sequential planning
