MFT: MBA Exam Study Questions and Answers
100% Pass
The focal point of all marketing activities is - ✔✔customers
The marketing mix is known by what other name? - ✔✔the four Ps
Goods, services, or ideas offered in the exchange with customers are dealt
with under the _____ category of the marketing mix - ✔✔product
Making the product available to the customer in the right quantities and
locations when the customer wants them is the definition for which of
these marketing mix variable? - ✔✔place
Many people equate advertising with marketing. While advertising is an
important part of the marketing process, it is actually a tool utilized under
which category of the marketing mix? - ✔✔promotion
The study and assessment of forces outside the organization is function of
___ and ____ - ✔✔opportunities and threats
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,The forces that may be evaluated in the analysis of the environment may
include - ✔✔political/legal, economic, sociocultural, and technological
Which of the following is the first step in undertaking a market research
project? - ✔✔problem definition
A fancy word for "observation" is ___ - ✔✔ethnography
In order for a market to exist, there must be - ✔✔a need/desire for the
product, the ability to afford the product, and the willingness to purchase
The 3 basic segmentation strategies available to marketers are
undifferentiated, concentrated and ___ - ✔✔differentiated
When Henry Ford introduced the Model T, he offered only one model in
one color as a way to provide "transportation for the masses." Alfred P
Sloan, President of General Motors, offered the Chevrolet as an affordable
starter car, the Buick as a car for those who could afford more features and
amenities, and the Cadillac as the ultimate luxury car for those who
wanted to show the world they had "arrived." Henry Ford's market
segmentation strategy used the ___ approach, while Alfred P Sloan's
strategy used the ___ approach. - ✔✔undifferentiated; differentiated
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, The 5 steps of the Consumer Decision - ✔✔Making process, in order are -
problem recognition, information search, evaluation of alternatives,
purchase, post-purchase evaluation
The 2 types of purchases are consumer and business. The primary
distinguishing factor between the 2 is - ✔✔the purchaser's intended use of
the product
The 4 categories of business markets are - ✔✔producer, reseller,
government, institutional
One key advantage of using secondary data instead of primary data is -
✔✔secondary data is usually less expensive
The variables that can be used to segment consumer markets are -
✔✔demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the - ✔✔brand name
The Golden Arches of McDonald's are recognized worldwide. This symbol
is an example of a - ✔✔brand mark
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100% Pass
The focal point of all marketing activities is - ✔✔customers
The marketing mix is known by what other name? - ✔✔the four Ps
Goods, services, or ideas offered in the exchange with customers are dealt
with under the _____ category of the marketing mix - ✔✔product
Making the product available to the customer in the right quantities and
locations when the customer wants them is the definition for which of
these marketing mix variable? - ✔✔place
Many people equate advertising with marketing. While advertising is an
important part of the marketing process, it is actually a tool utilized under
which category of the marketing mix? - ✔✔promotion
The study and assessment of forces outside the organization is function of
___ and ____ - ✔✔opportunities and threats
Copyright ©EMILLECT 2024. ALL RIGHTS RESERVED. Page 1/20
,The forces that may be evaluated in the analysis of the environment may
include - ✔✔political/legal, economic, sociocultural, and technological
Which of the following is the first step in undertaking a market research
project? - ✔✔problem definition
A fancy word for "observation" is ___ - ✔✔ethnography
In order for a market to exist, there must be - ✔✔a need/desire for the
product, the ability to afford the product, and the willingness to purchase
The 3 basic segmentation strategies available to marketers are
undifferentiated, concentrated and ___ - ✔✔differentiated
When Henry Ford introduced the Model T, he offered only one model in
one color as a way to provide "transportation for the masses." Alfred P
Sloan, President of General Motors, offered the Chevrolet as an affordable
starter car, the Buick as a car for those who could afford more features and
amenities, and the Cadillac as the ultimate luxury car for those who
wanted to show the world they had "arrived." Henry Ford's market
segmentation strategy used the ___ approach, while Alfred P Sloan's
strategy used the ___ approach. - ✔✔undifferentiated; differentiated
Copyright ©EMILLECT 2024. ALL RIGHTS RESERVED. Page 2/20
, The 5 steps of the Consumer Decision - ✔✔Making process, in order are -
problem recognition, information search, evaluation of alternatives,
purchase, post-purchase evaluation
The 2 types of purchases are consumer and business. The primary
distinguishing factor between the 2 is - ✔✔the purchaser's intended use of
the product
The 4 categories of business markets are - ✔✔producer, reseller,
government, institutional
One key advantage of using secondary data instead of primary data is -
✔✔secondary data is usually less expensive
The variables that can be used to segment consumer markets are -
✔✔demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the - ✔✔brand name
The Golden Arches of McDonald's are recognized worldwide. This symbol
is an example of a - ✔✔brand mark
Copyright ©EMILLECT 2024. ALL RIGHTS RESERVED. Page 3/20
