MSN 622 midterm exam with verified
solutions
T or F
| |
marketing management is defined as "planning, executing, and managing a
| | | | | | | | |
variety of function to deliver value to the customer and the organization." -
| | | | | | | | | | | | |
correct answer -✔False
| | |
Which of the following is NOT a marketing "basic" as described in the
| | | | | | | | | | | |
textbook?
|
strategy & execution | |
art & science
| |
target markets & positioning
| | |
getting customers to buy your product - correct answer -✔getting customers to
| | | | | | | | | | |
buy your product
| | |
T or F
| |
brand positioning is defined as "creating a unique place in someone's mind
| | | | | | | | | | |
when they think of a brand." - correct answer -✔False
| | | | | | | | | |
Marketers are concerned with which of the following? Choose best.
| | | | | | | | |
price
product
,place
promotion
people
each of these options - correct answer -✔each of these options
| | | | | | | | | |
Which question does a value proposition answer for a prospective customer?
| | | | | | | | | |
Choose best.
| | |
"Why should I do business with you?"
| | | | | |
"How are you different from competitors?"
| | | | |
Both of these. | |
Niether of these. - correct answer -✔Both
| | | | | |
A company has to manage selling the same product to different customer
| | | | | | | | | | |
segments in different places. This is called ___.
| | | | | | | | |
value proposition |
channel conflict |
tactical execution |
strategy - correct answer -✔channel conflict
| | | | |
T or F
| |
the "value exchange" is the idea that 2 parties both give and receive something
| | | | | | | | | | | | |
of value. - correct answer -✔true
| | | | | |
,Grouping prospects & customers by various characteristics, behaviors, & traits
| | | | | | | | |
is referred to as ___.
| | | | |
Differentiation
competitive analysis |
market segmentation |
customer analysis - correct answer -✔market segmentation
| | | | | |
T or F
| |
marketing entails developing a strategy & executing to support the strategy. -
| | | | | | | | | | |
correct answer -✔True
| | |
T or F
| |
Most recent graduates would likely step into a marketing manager role right
| | | | | | | | | | |
out of college. - correct answer -✔False
| | | | | | |
Which of the following types of jobs can be found in the marketing profession?
| | | | | | | | | | | | |
Choose best.
| | |
creative
analytical
management
researcher
Each of these. | | |
None of these. - correct answer -✔Each of these options
| | | | | | | | |
, "Marketing is art & science" means which of the following?
| | | | | | | | | |
Marketing is creative & analytical. | | | | |
Marketing is a discipline that can be appeal to everyone.
| | | | | | | | | |
Marketing is about doing creative work to attract customers.
| | | | | | | | |
Marketing is scientific because numbers & spreadsheets are using in marketing.
| | | | | | | | | |
- correct answer -✔Marketing is creative & analytical.
| | | | | | | |
T or F
| |
A target market is a group of people with similar characteristics who may be
| | | | | | | | | | | | |
likely to buy a company's products or services. - correct answer -✔True
| | | | | | | | | | | |
T or F
| |
If you work hard in marketing for a few years, it is likely you will reach the level
| | | | | | | | | | | | | | | | |
|of CMO within 10 years of graduating. - correct answer -✔False
| | | | | | | | | |
The primary goal of the textbook is to help you ____. Choose best.
| | | | | | | | | | | | |
Think like a marketer
| | |
think like a customer
| | |
view marketing from both perspectives
| | | |
think like a businessperson - correct answer -✔View marketing from both
| | | | | | | | | |
customer & company perspectives
| | | |
solutions
T or F
| |
marketing management is defined as "planning, executing, and managing a
| | | | | | | | |
variety of function to deliver value to the customer and the organization." -
| | | | | | | | | | | | |
correct answer -✔False
| | |
Which of the following is NOT a marketing "basic" as described in the
| | | | | | | | | | | |
textbook?
|
strategy & execution | |
art & science
| |
target markets & positioning
| | |
getting customers to buy your product - correct answer -✔getting customers to
| | | | | | | | | | |
buy your product
| | |
T or F
| |
brand positioning is defined as "creating a unique place in someone's mind
| | | | | | | | | | |
when they think of a brand." - correct answer -✔False
| | | | | | | | | |
Marketers are concerned with which of the following? Choose best.
| | | | | | | | |
price
product
,place
promotion
people
each of these options - correct answer -✔each of these options
| | | | | | | | | |
Which question does a value proposition answer for a prospective customer?
| | | | | | | | | |
Choose best.
| | |
"Why should I do business with you?"
| | | | | |
"How are you different from competitors?"
| | | | |
Both of these. | |
Niether of these. - correct answer -✔Both
| | | | | |
A company has to manage selling the same product to different customer
| | | | | | | | | | |
segments in different places. This is called ___.
| | | | | | | | |
value proposition |
channel conflict |
tactical execution |
strategy - correct answer -✔channel conflict
| | | | |
T or F
| |
the "value exchange" is the idea that 2 parties both give and receive something
| | | | | | | | | | | | |
of value. - correct answer -✔true
| | | | | |
,Grouping prospects & customers by various characteristics, behaviors, & traits
| | | | | | | | |
is referred to as ___.
| | | | |
Differentiation
competitive analysis |
market segmentation |
customer analysis - correct answer -✔market segmentation
| | | | | |
T or F
| |
marketing entails developing a strategy & executing to support the strategy. -
| | | | | | | | | | |
correct answer -✔True
| | |
T or F
| |
Most recent graduates would likely step into a marketing manager role right
| | | | | | | | | | |
out of college. - correct answer -✔False
| | | | | | |
Which of the following types of jobs can be found in the marketing profession?
| | | | | | | | | | | | |
Choose best.
| | |
creative
analytical
management
researcher
Each of these. | | |
None of these. - correct answer -✔Each of these options
| | | | | | | | |
, "Marketing is art & science" means which of the following?
| | | | | | | | | |
Marketing is creative & analytical. | | | | |
Marketing is a discipline that can be appeal to everyone.
| | | | | | | | | |
Marketing is about doing creative work to attract customers.
| | | | | | | | |
Marketing is scientific because numbers & spreadsheets are using in marketing.
| | | | | | | | | |
- correct answer -✔Marketing is creative & analytical.
| | | | | | | |
T or F
| |
A target market is a group of people with similar characteristics who may be
| | | | | | | | | | | | |
likely to buy a company's products or services. - correct answer -✔True
| | | | | | | | | | | |
T or F
| |
If you work hard in marketing for a few years, it is likely you will reach the level
| | | | | | | | | | | | | | | | |
|of CMO within 10 years of graduating. - correct answer -✔False
| | | | | | | | | |
The primary goal of the textbook is to help you ____. Choose best.
| | | | | | | | | | | | |
Think like a marketer
| | |
think like a customer
| | |
view marketing from both perspectives
| | | |
think like a businessperson - correct answer -✔View marketing from both
| | | | | | | | | |
customer & company perspectives
| | | |
