MKT 340 FINAL EXAM QUESTIONS
AND CORRECT ANSWERS
Which of the following questions does a value proposition answer for a prospective customer?
(Choose the best answer.) ✅✅CORRECT ANSW-Both "Why should I do business with you?" and
"How are you different than your competitors?"
A company has to manage selling the same product to different customer segments in different
places. This is called ________. ✅✅CORRECT ANSW-Channel conflict
True or False: The "value exchange" is the idea that two parties both give and receive something of
value. ✅✅CORRECT ANSW-True
Grouping prospects and customers by various characteristics, behaviors, and traits is referred to as
________. ✅✅CORRECT ANSW-Market segmentation
True or False: Marketing entails developing a strategy and executing to support the strategy.
✅✅CORRECT ANSW-True
True or False: Marketing management is defined as "planning, executing, and managing a variety of
functions to deliver value to the customer and the organization." ✅✅CORRECT ANSW-True
Which of the following is NOT a marketing "basic" as described in the "Marketing Management
Today" textbook? ✅✅CORRECT ANSW-Getting customers to buy your product
True or False: Brand positioning is defined as "creating a unique place in someone's mind when they
think of a brand." ✅✅CORRECT ANSW-True
Marketers are concerned with which of the following? (Choose the best answer.) ✅✅CORRECT
ANSW-Each of these
True or False: Most recent graduates would likely step into a marketing manager role right out of
college. ✅✅CORRECT ANSW-False
, Which of the following types of jobs can be found in the marketing profession? (Choose the best
answer.) ✅✅CORRECT ANSW-Each of these
"Marketing is art and science" means which of the following? (Choose the best answer.)
✅✅CORRECT ANSW-Marketing is creative and analytical.
True or False: A target market is a group of people with similar characteristics who may be likely to
buy a company's products or services. ✅✅CORRECT ANSW-True
True or False: 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 ANSW-False
The primary goal of the "Marketing Management Today" textbook is to help you ________. (Choose
the best answer.) ✅✅CORRECT ANSW-View marketing from both customer and company
perspectives
True or False: Brands create value for the company and the customer. ✅✅CORRECT ANSW-True
True or False: "Brand" can mean many things, but a common definition is a promise to the customer
that they will receive something of value for money spent. ✅✅CORRECT ANSW-True
Brand awareness ________. (Choose the best answer.) ✅✅CORRECT ANSW-Each of these
Brand perception ________. (Choose the best answer.) ✅✅CORRECT ANSW-Is initially the feeling
about a brand and ultimately is the intersection between brand promise and brand experience
Having a bad meal or poor service at your favorite fast food restaurant is an example of ________.
✅✅CORRECT ANSW-Brand experience
Apple is known for its clean design, use of white space, and a generally uncluttered, streamlined look
and feel. This is an example of ________. ✅✅CORRECT ANSW-Brand identity
True or False: Brand relevance means there is only one relevant choice for a consumer and that all
other choices are irrelevant. ✅✅CORRECT ANSW-True
AND CORRECT ANSWERS
Which of the following questions does a value proposition answer for a prospective customer?
(Choose the best answer.) ✅✅CORRECT ANSW-Both "Why should I do business with you?" and
"How are you different than your competitors?"
A company has to manage selling the same product to different customer segments in different
places. This is called ________. ✅✅CORRECT ANSW-Channel conflict
True or False: The "value exchange" is the idea that two parties both give and receive something of
value. ✅✅CORRECT ANSW-True
Grouping prospects and customers by various characteristics, behaviors, and traits is referred to as
________. ✅✅CORRECT ANSW-Market segmentation
True or False: Marketing entails developing a strategy and executing to support the strategy.
✅✅CORRECT ANSW-True
True or False: Marketing management is defined as "planning, executing, and managing a variety of
functions to deliver value to the customer and the organization." ✅✅CORRECT ANSW-True
Which of the following is NOT a marketing "basic" as described in the "Marketing Management
Today" textbook? ✅✅CORRECT ANSW-Getting customers to buy your product
True or False: Brand positioning is defined as "creating a unique place in someone's mind when they
think of a brand." ✅✅CORRECT ANSW-True
Marketers are concerned with which of the following? (Choose the best answer.) ✅✅CORRECT
ANSW-Each of these
True or False: Most recent graduates would likely step into a marketing manager role right out of
college. ✅✅CORRECT ANSW-False
, Which of the following types of jobs can be found in the marketing profession? (Choose the best
answer.) ✅✅CORRECT ANSW-Each of these
"Marketing is art and science" means which of the following? (Choose the best answer.)
✅✅CORRECT ANSW-Marketing is creative and analytical.
True or False: A target market is a group of people with similar characteristics who may be likely to
buy a company's products or services. ✅✅CORRECT ANSW-True
True or False: 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 ANSW-False
The primary goal of the "Marketing Management Today" textbook is to help you ________. (Choose
the best answer.) ✅✅CORRECT ANSW-View marketing from both customer and company
perspectives
True or False: Brands create value for the company and the customer. ✅✅CORRECT ANSW-True
True or False: "Brand" can mean many things, but a common definition is a promise to the customer
that they will receive something of value for money spent. ✅✅CORRECT ANSW-True
Brand awareness ________. (Choose the best answer.) ✅✅CORRECT ANSW-Each of these
Brand perception ________. (Choose the best answer.) ✅✅CORRECT ANSW-Is initially the feeling
about a brand and ultimately is the intersection between brand promise and brand experience
Having a bad meal or poor service at your favorite fast food restaurant is an example of ________.
✅✅CORRECT ANSW-Brand experience
Apple is known for its clean design, use of white space, and a generally uncluttered, streamlined look
and feel. This is an example of ________. ✅✅CORRECT ANSW-Brand identity
True or False: Brand relevance means there is only one relevant choice for a consumer and that all
other choices are irrelevant. ✅✅CORRECT ANSW-True
