MARKETING 201 STUDY GUIDE EXAM 1 QUESTIONS
WITH ACCURATE ANSWERS
A consumer value proposition is: correct answer the cluster of benefits that an
organization promises customers to satisfy their needs.
A local college of business offers an outstanding graduate business school
education program. Marissa pays the tuition to attend and earns her MBA with a
concentration in marketing management. Upon graduating, she is offered a high
paying, fulfilling position. Was this a marketing exchange? correct answer Yes,
because paying tuition was exchanged for knowledge that directly led to Marissa's
high paying, fulfilling new job.
A student wants to buy a smartphone so she can share pictures with her friends.
An insurance claims adjuster wants to buy a smartphone to document accidents
(take pictures, write a report, etc.). If they both purchase the same model
smartphone, such as an Apple iPhone, which statement is most accurate? correct
answer Both the adjuster and the student are potential customers because in
their own way, they both benefit from the smartphone.
All of the following statements about the environmental forces that have
influenced Facebook are true EXCEPT: correct answer the Federal Commission
(FTC) has had a laissez faire policy of not interfering with the development and
marketing of Facebook, and other social media websites.
At the ______________ of the consumer purchase decision process, a consumer
compares the product with his or her expectations and is either satisfied or
dissatisfied. correct answer post-purchase stage
, At which stage of the consumer purchase decision process does a consumer
compare the product with his/her expectations and is either satisfied or
dissatisfied? correct answer Post purchase behavior
Define 'caveat emptor'? correct answer Let the buyer beware
During which stage of the consumer purchase decision process would you scan
your memory for previous experiences with products or brands? correct answer
Information search
Ethics refers to the correct answer moral principles and values that govern the
actions and decisions of an individual or group
How do a majority of people surveyed rate the ethical practices of business
executives? correct answer Public opinion surveys show that 17 percent of us
adults rate the ethical standards of business executives as "very high" or "high"
In Marketing, what does a 'organization' refer to? correct answer any system,
body or group of people working together to achieve common goals and
objectives of the business. It is a mechanism through which a managerial
philosophy is translated into action
Many media today use pay-to-vote polls, in which respondents use a 900-
telephone number to vote "yes" or "no" on a current issue, as a means of
generating viewer or listener interest. The Research Industry Coalition (RIC) has
asked all media to inform viewers or listeners that the validity of such polls is
questionable and the results are NOT statistically representative of the population
but are just a frequency distribution of those who happen to call. If a television
station chooses not to make viewers aware of the shortcomings of a pay-to-vote
WITH ACCURATE ANSWERS
A consumer value proposition is: correct answer the cluster of benefits that an
organization promises customers to satisfy their needs.
A local college of business offers an outstanding graduate business school
education program. Marissa pays the tuition to attend and earns her MBA with a
concentration in marketing management. Upon graduating, she is offered a high
paying, fulfilling position. Was this a marketing exchange? correct answer Yes,
because paying tuition was exchanged for knowledge that directly led to Marissa's
high paying, fulfilling new job.
A student wants to buy a smartphone so she can share pictures with her friends.
An insurance claims adjuster wants to buy a smartphone to document accidents
(take pictures, write a report, etc.). If they both purchase the same model
smartphone, such as an Apple iPhone, which statement is most accurate? correct
answer Both the adjuster and the student are potential customers because in
their own way, they both benefit from the smartphone.
All of the following statements about the environmental forces that have
influenced Facebook are true EXCEPT: correct answer the Federal Commission
(FTC) has had a laissez faire policy of not interfering with the development and
marketing of Facebook, and other social media websites.
At the ______________ of the consumer purchase decision process, a consumer
compares the product with his or her expectations and is either satisfied or
dissatisfied. correct answer post-purchase stage
, At which stage of the consumer purchase decision process does a consumer
compare the product with his/her expectations and is either satisfied or
dissatisfied? correct answer Post purchase behavior
Define 'caveat emptor'? correct answer Let the buyer beware
During which stage of the consumer purchase decision process would you scan
your memory for previous experiences with products or brands? correct answer
Information search
Ethics refers to the correct answer moral principles and values that govern the
actions and decisions of an individual or group
How do a majority of people surveyed rate the ethical practices of business
executives? correct answer Public opinion surveys show that 17 percent of us
adults rate the ethical standards of business executives as "very high" or "high"
In Marketing, what does a 'organization' refer to? correct answer any system,
body or group of people working together to achieve common goals and
objectives of the business. It is a mechanism through which a managerial
philosophy is translated into action
Many media today use pay-to-vote polls, in which respondents use a 900-
telephone number to vote "yes" or "no" on a current issue, as a means of
generating viewer or listener interest. The Research Industry Coalition (RIC) has
asked all media to inform viewers or listeners that the validity of such polls is
questionable and the results are NOT statistically representative of the population
but are just a frequency distribution of those who happen to call. If a television
station chooses not to make viewers aware of the shortcomings of a pay-to-vote
