MKT 4385 EXAM 1 PRATICE QUESTIONS WITH
VERIFIED ANSWERS
_________ is the combination of a strong desire for something and the ability to
purchase that product.
A) Sales
B) Needs
C) Demand
D) Wants - Answers - C) Demand
Explanation: Demand is the combination of a strong desire for a product and the ability
to purchase it.
Which of the following statements about marketing is true?
A) Marketing is equivalent to sales and advertising.
B) Marketing always employs common sense.
C) Marketing can make consumers buy products they do not need or want.
D) Creativity guarantees marketing success.
E) All of the statements are misconceptions about marketing. - Answers - E) All of the
statements are misconceptions about marketing.
Explanation: Marketing is not equivalent to sales/advertising, does not rely solely on
common sense, cannot force consumers to buy what they don't need or want, and
creativity alone doesn't guarantee success.
The breadth of marketing decisions is referred to as the 4 _____.
A) Cs
B) Ps
C) Ds
D) Ms - Answers - B) Ps
Explanation: The 4 Ps refer to Product, Price, Place, and Promotion in marketing.
Nonprofit companies do not do marketing because they have no product to sell: T/F -
Answers - False
Explanation: Nonprofit companies engage in marketing to promote causes and services,
even without selling a traditional product.
,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
Explanation: Perceived value is the difference between the perceived benefits and the
perceived costs.
The marketing orientation in the 1930s and 1940s was a_______orientation.
A) Production
B) Sales
C) Market
D) Social - Answers - B) Sales
Explanation: During the 1930s and 1940s, companies focused on a sales orientation,
which emphasized pushing products rather than meeting customer needs.
When companies act at least in part in the best interests of society they are practicing:
A) Customer relationship marketing
B) Social responsibility
C) Marketing research
D) Value propositioning - Answers - B) Social responsibility
Explanation: Companies practicing social responsibility act in the interest of society
beyond just profits.
Membership clubs and loyalty programs are an example of:
A) Customer relationship marketing
B) Social responsibility
C) Marketing research
D) Value propositioning - Answers - A) Customer relationship marketing
Explanation: Membership clubs and loyalty programs aim to foster long-term
relationships with customers.
Properly designed and executed, marketing can do which of the following?
A) Create a need for something.
B) Make people buy things they really can't afford.
C) Make it more appealing to buy certain things over others.
, D) Influence people to do things they don't want to do. - Answers - C) Make it more
appealing to buy certain things over others.
Explanation: Marketing influences consumer choices by highlighting the appeal of
certain products.
Which of the following statements is not true?
A) Companies differentiate by focusing on a unique selling proposition.
B) Competitive advantages can be achieved by offering lower prices or more benefits
than the competition.
C) A competitive advantage is short term and impossible to sustain over time.
D) Competitive advantages focus on what is valuable to customers. - Answers - C) A
competitive advantage is short-term and impossible to sustain over time.
Explanation: Competitive advantages can be sustained, especially with a strong
strategy.
The SWOT Analysis involves identifying the following items (select all that apply)
Strengths
Security
Weaknesses
Written communication
Organization
Opportunities
Threats
Targets - Answers - Strengths, Weaknesses, Opportunities, Threats
Explanation: SWOT analysis identifies these four elements for evaluating strategic
options.
The 4 Ps of marketing are:
A) Product, price, promotion, primary
B) Product, place, primary, promotion
C) Product, place, price, promotion
D) Product, place, primary, price - Answers - C) Product, place, price, promotion
Explanation: These are the 4 Ps of marketing, covering different areas of decision-
making.
Which P covers how a company communicates value to its customers?
A) Product
B) Place
VERIFIED ANSWERS
_________ is the combination of a strong desire for something and the ability to
purchase that product.
A) Sales
B) Needs
C) Demand
D) Wants - Answers - C) Demand
Explanation: Demand is the combination of a strong desire for a product and the ability
to purchase it.
Which of the following statements about marketing is true?
A) Marketing is equivalent to sales and advertising.
B) Marketing always employs common sense.
C) Marketing can make consumers buy products they do not need or want.
D) Creativity guarantees marketing success.
E) All of the statements are misconceptions about marketing. - Answers - E) All of the
statements are misconceptions about marketing.
Explanation: Marketing is not equivalent to sales/advertising, does not rely solely on
common sense, cannot force consumers to buy what they don't need or want, and
creativity alone doesn't guarantee success.
The breadth of marketing decisions is referred to as the 4 _____.
A) Cs
B) Ps
C) Ds
D) Ms - Answers - B) Ps
Explanation: The 4 Ps refer to Product, Price, Place, and Promotion in marketing.
Nonprofit companies do not do marketing because they have no product to sell: T/F -
Answers - False
Explanation: Nonprofit companies engage in marketing to promote causes and services,
even without selling a traditional product.
,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
Explanation: Perceived value is the difference between the perceived benefits and the
perceived costs.
The marketing orientation in the 1930s and 1940s was a_______orientation.
A) Production
B) Sales
C) Market
D) Social - Answers - B) Sales
Explanation: During the 1930s and 1940s, companies focused on a sales orientation,
which emphasized pushing products rather than meeting customer needs.
When companies act at least in part in the best interests of society they are practicing:
A) Customer relationship marketing
B) Social responsibility
C) Marketing research
D) Value propositioning - Answers - B) Social responsibility
Explanation: Companies practicing social responsibility act in the interest of society
beyond just profits.
Membership clubs and loyalty programs are an example of:
A) Customer relationship marketing
B) Social responsibility
C) Marketing research
D) Value propositioning - Answers - A) Customer relationship marketing
Explanation: Membership clubs and loyalty programs aim to foster long-term
relationships with customers.
Properly designed and executed, marketing can do which of the following?
A) Create a need for something.
B) Make people buy things they really can't afford.
C) Make it more appealing to buy certain things over others.
, D) Influence people to do things they don't want to do. - Answers - C) Make it more
appealing to buy certain things over others.
Explanation: Marketing influences consumer choices by highlighting the appeal of
certain products.
Which of the following statements is not true?
A) Companies differentiate by focusing on a unique selling proposition.
B) Competitive advantages can be achieved by offering lower prices or more benefits
than the competition.
C) A competitive advantage is short term and impossible to sustain over time.
D) Competitive advantages focus on what is valuable to customers. - Answers - C) A
competitive advantage is short-term and impossible to sustain over time.
Explanation: Competitive advantages can be sustained, especially with a strong
strategy.
The SWOT Analysis involves identifying the following items (select all that apply)
Strengths
Security
Weaknesses
Written communication
Organization
Opportunities
Threats
Targets - Answers - Strengths, Weaknesses, Opportunities, Threats
Explanation: SWOT analysis identifies these four elements for evaluating strategic
options.
The 4 Ps of marketing are:
A) Product, price, promotion, primary
B) Product, place, primary, promotion
C) Product, place, price, promotion
D) Product, place, primary, price - Answers - C) Product, place, price, promotion
Explanation: These are the 4 Ps of marketing, covering different areas of decision-
making.
Which P covers how a company communicates value to its customers?
A) Product
B) Place
