MKT 4385 EXAM 1 PRACTICE QUESTIONS WITH
VERIFIED ANSWERS
Which of the following statements is not true:
a) a company's ultimate goal is profits, not sales
b) the relationship between profits and sales is unclear
c) lower prices are always better
d) higher prices may yield more sales and greater profits - Answers - c) lower prices are
always better
___________ is the combination of a strong desire for something and the ability to
purchase that product. - Answers - Demand
Which of the following statements about marketing is true?
a) MKT is equivalent to sales and advertising
b) MKT always employs common sense
c) MKT can make consumers buy products they do not need or want
d) creativity guarantees MKT success
e) all of the statements are misconceptions about MKT - Answers - e) all of the
statements are misconceptions about MKT
The breadth of MKT decisions is referred to as the 4 _____. - Answers - Ps
MKT is defined as managing ____________ with ___________.
a) customers; sales
b) sales; customers
c) exchanges; sales
d) exchanges; customers - Answers - d) exchanges; customers
A MKT plan is a written statement that includes which of the following?
a) goals
b) timelines
c) budgets
d) all of the above - Answers - d) all of the above
The customers with whom MKT is trying to manage exchanges with is called the
_____________.
a) MKT plan
b) target market
c) sales
, d) profit - Answers - b) target market
T/F: Nonprofit companies do not do MKT because they have no product to sell. -
Answers - False
Perceived value is defined as the perceived benefits relative to the perceived
_____________ associated with an exchange.
a) sales
b) costs
c) customers
d) markets - Answers - b) costs
Which of the following statements is not true?
a) marketers want to maximize how much customers are willing to pay for a product
while making sure customers think they got more than they paid for
b) marketers focus their goals on a specific target market
c) marketers are not able to change a customer's perceived value so they focus on
different target markets instead
d) marketers can focus on multiple target markets in one MKT plan - Answers - c)
marketers are not able to change a customer's perceived value so they focus on
different target markets instead
__________ measures the outcomes of specific MKT activities agains goals.
a) perceived value
b) MKT research
c) value propositions
d) MKT plans - Answers - b) MKT research
T/F: Good MKT means not taking risks. - Answers - False
The MKT orientation in the 1930s and 1940s was a _________ orientation.
a) production
b) sales
c) market
d) social - Answers - b) sales
The current MKT orientation is __________.
a) production
b) sales
c) market
d) social - Answers - d) social
When companies act at least in part in the best interests of society, they are practicing:
a) customer relationship MKT
b) social responsibility
c) MKT research
VERIFIED ANSWERS
Which of the following statements is not true:
a) a company's ultimate goal is profits, not sales
b) the relationship between profits and sales is unclear
c) lower prices are always better
d) higher prices may yield more sales and greater profits - Answers - c) lower prices are
always better
___________ is the combination of a strong desire for something and the ability to
purchase that product. - Answers - Demand
Which of the following statements about marketing is true?
a) MKT is equivalent to sales and advertising
b) MKT always employs common sense
c) MKT can make consumers buy products they do not need or want
d) creativity guarantees MKT success
e) all of the statements are misconceptions about MKT - Answers - e) all of the
statements are misconceptions about MKT
The breadth of MKT decisions is referred to as the 4 _____. - Answers - Ps
MKT is defined as managing ____________ with ___________.
a) customers; sales
b) sales; customers
c) exchanges; sales
d) exchanges; customers - Answers - d) exchanges; customers
A MKT plan is a written statement that includes which of the following?
a) goals
b) timelines
c) budgets
d) all of the above - Answers - d) all of the above
The customers with whom MKT is trying to manage exchanges with is called the
_____________.
a) MKT plan
b) target market
c) sales
, d) profit - Answers - b) target market
T/F: Nonprofit companies do not do MKT because they have no product to sell. -
Answers - False
Perceived value is defined as the perceived benefits relative to the perceived
_____________ associated with an exchange.
a) sales
b) costs
c) customers
d) markets - Answers - b) costs
Which of the following statements is not true?
a) marketers want to maximize how much customers are willing to pay for a product
while making sure customers think they got more than they paid for
b) marketers focus their goals on a specific target market
c) marketers are not able to change a customer's perceived value so they focus on
different target markets instead
d) marketers can focus on multiple target markets in one MKT plan - Answers - c)
marketers are not able to change a customer's perceived value so they focus on
different target markets instead
__________ measures the outcomes of specific MKT activities agains goals.
a) perceived value
b) MKT research
c) value propositions
d) MKT plans - Answers - b) MKT research
T/F: Good MKT means not taking risks. - Answers - False
The MKT orientation in the 1930s and 1940s was a _________ orientation.
a) production
b) sales
c) market
d) social - Answers - b) sales
The current MKT orientation is __________.
a) production
b) sales
c) market
d) social - Answers - d) social
When companies act at least in part in the best interests of society, they are practicing:
a) customer relationship MKT
b) social responsibility
c) MKT research
