MGRADES
MFT: MBA UPDATED ACTUAL Exam
Questions and CORRECT Answers
The focal point of all marketing activities is - CORRECT ANSWER - customers
The marketing mix is known by what other name? - CORRECT ANSWER - the four Ps
Goods, services, or ideas offered in the exchange with customers are dealt with under the _____
category of the marketing mix - CORRECT ANSWER - 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? - CORRECT
ANSWER - 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? -
CORRECT ANSWER - promotion
The study and assessment of forces outside the organization is function of ___ and ____ -
CORRECT ANSWER - opportunities and threats
The forces that may be evaluated in the analysis of the environment may include - CORRECT
ANSWER - political/legal, economic, sociocultural, and technological
Which of the following is the first step in undertaking a market research project? - CORRECT
ANSWER - problem definition
A fancy word for "observation" is ___ - CORRECT ANSWER - ethnography
, MGRADES
In order for a market to exist, there must be - CORRECT ANSWER - 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
___ - CORRECT ANSWER - 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. - CORRECT ANSWER -
undifferentiated; differentiated
The 5 steps of the Consumer Decision - CORRECT ANSWER - 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 - CORRECT ANSWER - the purchaser's intended use of the product
The 4 categories of business markets are - CORRECT ANSWER - producer, reseller,
government, institutional
One key advantage of using secondary data instead of primary data is - CORRECT
ANSWER - secondary data is usually less expensive
The variables that can be used to segment consumer markets are - CORRECT ANSWER -
demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the - CORRECT ANSWER - brand name
MFT: MBA UPDATED ACTUAL Exam
Questions and CORRECT Answers
The focal point of all marketing activities is - CORRECT ANSWER - customers
The marketing mix is known by what other name? - CORRECT ANSWER - the four Ps
Goods, services, or ideas offered in the exchange with customers are dealt with under the _____
category of the marketing mix - CORRECT ANSWER - 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? - CORRECT
ANSWER - 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? -
CORRECT ANSWER - promotion
The study and assessment of forces outside the organization is function of ___ and ____ -
CORRECT ANSWER - opportunities and threats
The forces that may be evaluated in the analysis of the environment may include - CORRECT
ANSWER - political/legal, economic, sociocultural, and technological
Which of the following is the first step in undertaking a market research project? - CORRECT
ANSWER - problem definition
A fancy word for "observation" is ___ - CORRECT ANSWER - ethnography
, MGRADES
In order for a market to exist, there must be - CORRECT ANSWER - 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
___ - CORRECT ANSWER - 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. - CORRECT ANSWER -
undifferentiated; differentiated
The 5 steps of the Consumer Decision - CORRECT ANSWER - 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 - CORRECT ANSWER - the purchaser's intended use of the product
The 4 categories of business markets are - CORRECT ANSWER - producer, reseller,
government, institutional
One key advantage of using secondary data instead of primary data is - CORRECT
ANSWER - secondary data is usually less expensive
The variables that can be used to segment consumer markets are - CORRECT ANSWER -
demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the - CORRECT ANSWER - brand name
