MKT 340- TEST 1QUESTIONS AND
CORRECT ANSWERS
Firm ABC's marketing team is convinced their primary products are superior to their competitors but
their sales are declining. A consulting firm tells Firm ABC that they need to focus more on the
benefits and experiences provided to the firm's customers and focus less on the specific products.
What does Firm ABC appear to suffer from? ✅✅CORRECT ANSW-marketing myopia
According to management guru Peter Drucker, "The aim of marketing is to ________."
✅✅CORRECT ANSW-make selling unnecessary
description of the organizations purpose - what it wants to accomplish in the larger environment
✅✅CORRECT ANSW-a mission statement
T/F - dividing a market into distinct groups of buyers who have different needs, characteristics, or
behaviors, and who might require separate products or marketing programs is known as market
penetration ✅✅CORRECT ANSW-FALSE
Diversification ✅✅CORRECT ANSW-starting up or buying businesses beyond its current
products/markets
market segmentation ✅✅CORRECT ANSW-Dividing a market into distinct groups of buyers who
have different needs, characteristics, or behaviors, and who might require separate products or
marketing strategies/mixes
marketing ✅✅CORRECT ANSW-set of strategies/activities where companies engage with their
customers, build strong customer relationships (it's enhancing things)
probability sample ✅✅CORRECT ANSW-simple random
stratified random
cluster (area)
nonprobability sample ✅✅CORRECT ANSW-convenience sample
judgement sample
CORRECT ANSWERS
Firm ABC's marketing team is convinced their primary products are superior to their competitors but
their sales are declining. A consulting firm tells Firm ABC that they need to focus more on the
benefits and experiences provided to the firm's customers and focus less on the specific products.
What does Firm ABC appear to suffer from? ✅✅CORRECT ANSW-marketing myopia
According to management guru Peter Drucker, "The aim of marketing is to ________."
✅✅CORRECT ANSW-make selling unnecessary
description of the organizations purpose - what it wants to accomplish in the larger environment
✅✅CORRECT ANSW-a mission statement
T/F - dividing a market into distinct groups of buyers who have different needs, characteristics, or
behaviors, and who might require separate products or marketing programs is known as market
penetration ✅✅CORRECT ANSW-FALSE
Diversification ✅✅CORRECT ANSW-starting up or buying businesses beyond its current
products/markets
market segmentation ✅✅CORRECT ANSW-Dividing a market into distinct groups of buyers who
have different needs, characteristics, or behaviors, and who might require separate products or
marketing strategies/mixes
marketing ✅✅CORRECT ANSW-set of strategies/activities where companies engage with their
customers, build strong customer relationships (it's enhancing things)
probability sample ✅✅CORRECT ANSW-simple random
stratified random
cluster (area)
nonprobability sample ✅✅CORRECT ANSW-convenience sample
judgement sample
