MKT 300: Exam 1 Practice Questions and Answers
Marketing is the process of... - -creating, distributing, promoting, and pricing products to
facilitate satisfying exchange relationships with customers and to develop and maintain
favorable relationships with stakeholders in a dynamic environment.
-Distribution, price, promotion, and product are all elements of... - -the marketing mix
-____ are the focal point of all marketing activities - -Customers
-In which of the following situations is the marketer selling an idea, rather than a service
or good? - -The Green Party holds a press conference to let the public know its views on
capital punishment.
-The ______ variable of the marketing mix relates to activities used to inform individuals or
groups about the organization and its products. - -promotion
-The marketing plan is... - -a written document detailing activities to be performed to
implement and control marketing actions
-The process of putting marketing strategies into action is called... - -marketing
implementation
-An organizations goals should be based on its _____, which is a long term view or vision of
what the organization wants to become. - -mission statement
-Groups of individuals and/or organizations that need products in a product class and have
the ability, willingness, and authority to purchase those products are called... - -markets
-Procter & Gamble's superb marketing distribution skills and R&D capabilities in five core
technologies (fats, oils, skin chemistry, surfactants, and emulsifiers) have enabled it to
build a strong reputation in the marketplace and drive down competition. It can be said
that these skills and capabilities are examples of Procter & Gamble's... - -core competencies
-To monitor changes in the marketing environment effectively, marketers must engage in...
- -environmental scanning and analysis
-Most marketers operate in a competitive environment of either... - -oligopoly or
monopolistic competition
-Which of the following is a characteristic of pure competition? - -Large number of sellers
-Which of the following is a characteristic of the prosperity stage of the business cycle? - -
Total income is relatively high
Marketing is the process of... - -creating, distributing, promoting, and pricing products to
facilitate satisfying exchange relationships with customers and to develop and maintain
favorable relationships with stakeholders in a dynamic environment.
-Distribution, price, promotion, and product are all elements of... - -the marketing mix
-____ are the focal point of all marketing activities - -Customers
-In which of the following situations is the marketer selling an idea, rather than a service
or good? - -The Green Party holds a press conference to let the public know its views on
capital punishment.
-The ______ variable of the marketing mix relates to activities used to inform individuals or
groups about the organization and its products. - -promotion
-The marketing plan is... - -a written document detailing activities to be performed to
implement and control marketing actions
-The process of putting marketing strategies into action is called... - -marketing
implementation
-An organizations goals should be based on its _____, which is a long term view or vision of
what the organization wants to become. - -mission statement
-Groups of individuals and/or organizations that need products in a product class and have
the ability, willingness, and authority to purchase those products are called... - -markets
-Procter & Gamble's superb marketing distribution skills and R&D capabilities in five core
technologies (fats, oils, skin chemistry, surfactants, and emulsifiers) have enabled it to
build a strong reputation in the marketplace and drive down competition. It can be said
that these skills and capabilities are examples of Procter & Gamble's... - -core competencies
-To monitor changes in the marketing environment effectively, marketers must engage in...
- -environmental scanning and analysis
-Most marketers operate in a competitive environment of either... - -oligopoly or
monopolistic competition
-Which of the following is a characteristic of pure competition? - -Large number of sellers
-Which of the following is a characteristic of the prosperity stage of the business cycle? - -
Total income is relatively high
