MKT 320F Final Exam Questions and
Answers 100% Pass
Which marketing management philosophy focuses on the question, "What do
customers want and need?"
A. Sales
B. Market
C. Product
D. Internal
E. Production - ✔✔B
A company that wants to implement a market orientation would need to:
A. do research on its customers, competitors, and markets.
B. do all of the activities listed.
C. establish and maintain mutually satisfying relationships with customers.
D. determine how to deliver superior customer value.
E. implement actions that provide value to customers. - ✔✔B
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,_____ is defined as the relationship between benefits and the sacrifice necessary to
obtain those benefits.
A Satisfaction percentage
B Marketing utility
C Market quality
D Customer value
E Opportunity cost - ✔✔D
_____ is a strategy that focuses on keeping and improving relationships with current
customers.
A Organization-customer synergy
B Market engineering
C Relationship marketing
D Transactional marketing
E Commitment selling - ✔✔C
A business is concerned with many day-to-day activities. Some of the most important of
these activities are the planning and development of a product, its ability to
communicate value, its pricing policy, and the distribution strategy. These activities are
all a part of:
Katelyn Whitman, All Rights Reserved © 2025 2
,A human resources.
B a control system.
C accounting.
D marketing.
E production. - ✔✔D
Earl is starting a new bank. Before the opening day, Earl had a meeting with all
employees. He discussed their mission, defined objectives for the bank for the coming
years, and shared who their target market is. He talked about their product offerings
and where their future branches would be located. Earl is sharing the bank's:
A hierarchical restructuring.
B reengineering.
C financial analysis.
D marketing plan.
E strategic contingency. - ✔✔D
A firm that wants to develop a deeper understanding of its customers may optimize
profitability, revenue, and customer satisfaction by focusing on highly defined and
precise customer groups. This is _____:
A sales orientation.
Katelyn Whitman, All Rights Reserved © 2025 3
, B customer relationship management.
C social orientation.
D customer optimization.
E sales maximization. - ✔✔B
A _____ is a study conducted by an organization to identify its internal strengths and
weaknesses and also examine external opportunities and threats.
A competitive advantage audit
B situation analysis
C trend analysis
D marketing audit
E strategic alternative selection - ✔✔B
Coca-Cola vending machines are found all over the world. The newest machines have
an interactive screen that runs advertisements and allows users to obtain free photos of
themselves and ringtones after they have bought a drink. Critics of these new vending
machines are concerned that entertaining technology is being used to market sugary
products. In terms of a SWOT analysis, this concern would be an example of a(n):
A weakness.
B strength.
Katelyn Whitman, All Rights Reserved © 2025 4
Answers 100% Pass
Which marketing management philosophy focuses on the question, "What do
customers want and need?"
A. Sales
B. Market
C. Product
D. Internal
E. Production - ✔✔B
A company that wants to implement a market orientation would need to:
A. do research on its customers, competitors, and markets.
B. do all of the activities listed.
C. establish and maintain mutually satisfying relationships with customers.
D. determine how to deliver superior customer value.
E. implement actions that provide value to customers. - ✔✔B
Katelyn Whitman, All Rights Reserved © 2025 1
,_____ is defined as the relationship between benefits and the sacrifice necessary to
obtain those benefits.
A Satisfaction percentage
B Marketing utility
C Market quality
D Customer value
E Opportunity cost - ✔✔D
_____ is a strategy that focuses on keeping and improving relationships with current
customers.
A Organization-customer synergy
B Market engineering
C Relationship marketing
D Transactional marketing
E Commitment selling - ✔✔C
A business is concerned with many day-to-day activities. Some of the most important of
these activities are the planning and development of a product, its ability to
communicate value, its pricing policy, and the distribution strategy. These activities are
all a part of:
Katelyn Whitman, All Rights Reserved © 2025 2
,A human resources.
B a control system.
C accounting.
D marketing.
E production. - ✔✔D
Earl is starting a new bank. Before the opening day, Earl had a meeting with all
employees. He discussed their mission, defined objectives for the bank for the coming
years, and shared who their target market is. He talked about their product offerings
and where their future branches would be located. Earl is sharing the bank's:
A hierarchical restructuring.
B reengineering.
C financial analysis.
D marketing plan.
E strategic contingency. - ✔✔D
A firm that wants to develop a deeper understanding of its customers may optimize
profitability, revenue, and customer satisfaction by focusing on highly defined and
precise customer groups. This is _____:
A sales orientation.
Katelyn Whitman, All Rights Reserved © 2025 3
, B customer relationship management.
C social orientation.
D customer optimization.
E sales maximization. - ✔✔B
A _____ is a study conducted by an organization to identify its internal strengths and
weaknesses and also examine external opportunities and threats.
A competitive advantage audit
B situation analysis
C trend analysis
D marketing audit
E strategic alternative selection - ✔✔B
Coca-Cola vending machines are found all over the world. The newest machines have
an interactive screen that runs advertisements and allows users to obtain free photos of
themselves and ringtones after they have bought a drink. Critics of these new vending
machines are concerned that entertaining technology is being used to market sugary
products. In terms of a SWOT analysis, this concern would be an example of a(n):
A weakness.
B strength.
Katelyn Whitman, All Rights Reserved © 2025 4
