MKT 305 Test Questions and
answers graded A+
Which of the following is NOT a reason for you to study marketing?
- Marketing affects almost every aspect of daily life.
- Marketing plays a big part in economic growth and development.
- Marketing involves actually making the goods that people need.
- Marketing will be important to your job. - ANS✅✅Marketing involves actually making the goods
that people need.
Marketing - ANS✅✅tries to accomplish a company's objectives by anticipating customers' needs
and trying to satisfy them.
Which of the following would be LEAST likely to need marketing skills?
- an electronics retailer
- a toy manufacturer
- a financial advisor
- an accountant
- All these organizations would be likely to need marketing skills. - ANS✅✅All these organizations
would be likely to need marketing skills.
Societies need a macro-marketing system to - ANS✅✅help match supply and demand.
The fact that producers usually prefer to produce products in large quantities while most consumers
prefer to buy in small quantities results in - ANS✅✅discrepancies of quantity.
- Discrepancies of quantity occur when producers prefer to produce and sell in large quantities and
consumers prefer to buy and consume in small quantities.
The universal functions of marketing can be performed by
- collaborators.
- intermediaries.
,- producers.
- consumers.
- all of these. - ANS✅✅all of these
Firms that specialize in providing marketing functions other than buying or selling are known as -
ANS✅✅collaborators.
The text considers five "eras" of marketing evolution. These five eras in their logical order are -
ANS✅✅simple trade, production, sales, marketing department, and marketing company.
The total system view of the marketing concept builds on the idea that - ANS✅✅all departments—
not just marketing—should be guided by customer needs.
The triple bottom line is a measure of a firm's success based on multiple criteria, commonly referred
to as - ANS✅✅people, planet, and profit
________ refers to the difference between the benefits a customer sees from a market offering and
the costs of obtaining those benefits. - ANS✅✅Customer value
Which of the following describes the micro-macro dilemma? - ANS✅✅What is good for some
producers and consumers may not be good for society as a whole.
Which of the following statements is true regarding social responsibility in marketing? -
ANS✅✅Being socially responsible can conflict with a firm's profit objective
The three basic tasks of all managers, according to the text, are - ANS✅✅planning,
implementation, and control.
"Marketing strategy planning" means - ANS✅✅finding attractive opportunities and developing
profitable marketing strategies.
A marketing strategy specifies - ANS✅✅a target market and a related marketing mix
, Herbal Essences tries to sell its hair shampoos and conditioners to young women in their late teens
and early 20s. These women represent Herbal Essences' primary - ANS✅✅target market
In contrast to mass marketing, target marketing - ANS✅✅tailors a marketing mix to fit some
specific group of customers.
-Target marketing says that a marketing mix is tailored to fit some specific target customers.
A firm's "marketing mix" decision areas do NOT include
Price.
-Promotion.
-Place.
-Product.
-People. - ANS✅✅People
"Product" is concerned with
-packaging and warranty.
-branding.
-services.
-physical goods.
-all of these - ANS✅✅all of these
A firm's decisions regarding channel type, market exposure, and kinds of intermediaries would fall
under the marketing mix variable of
Place.
Price.
Product.
Promotion.
People. - ANS✅✅Place
Marketing strategy decisions concerning Promotion include decisions about - ANS✅✅training for
salespeople
answers graded A+
Which of the following is NOT a reason for you to study marketing?
- Marketing affects almost every aspect of daily life.
- Marketing plays a big part in economic growth and development.
- Marketing involves actually making the goods that people need.
- Marketing will be important to your job. - ANS✅✅Marketing involves actually making the goods
that people need.
Marketing - ANS✅✅tries to accomplish a company's objectives by anticipating customers' needs
and trying to satisfy them.
Which of the following would be LEAST likely to need marketing skills?
- an electronics retailer
- a toy manufacturer
- a financial advisor
- an accountant
- All these organizations would be likely to need marketing skills. - ANS✅✅All these organizations
would be likely to need marketing skills.
Societies need a macro-marketing system to - ANS✅✅help match supply and demand.
The fact that producers usually prefer to produce products in large quantities while most consumers
prefer to buy in small quantities results in - ANS✅✅discrepancies of quantity.
- Discrepancies of quantity occur when producers prefer to produce and sell in large quantities and
consumers prefer to buy and consume in small quantities.
The universal functions of marketing can be performed by
- collaborators.
- intermediaries.
,- producers.
- consumers.
- all of these. - ANS✅✅all of these
Firms that specialize in providing marketing functions other than buying or selling are known as -
ANS✅✅collaborators.
The text considers five "eras" of marketing evolution. These five eras in their logical order are -
ANS✅✅simple trade, production, sales, marketing department, and marketing company.
The total system view of the marketing concept builds on the idea that - ANS✅✅all departments—
not just marketing—should be guided by customer needs.
The triple bottom line is a measure of a firm's success based on multiple criteria, commonly referred
to as - ANS✅✅people, planet, and profit
________ refers to the difference between the benefits a customer sees from a market offering and
the costs of obtaining those benefits. - ANS✅✅Customer value
Which of the following describes the micro-macro dilemma? - ANS✅✅What is good for some
producers and consumers may not be good for society as a whole.
Which of the following statements is true regarding social responsibility in marketing? -
ANS✅✅Being socially responsible can conflict with a firm's profit objective
The three basic tasks of all managers, according to the text, are - ANS✅✅planning,
implementation, and control.
"Marketing strategy planning" means - ANS✅✅finding attractive opportunities and developing
profitable marketing strategies.
A marketing strategy specifies - ANS✅✅a target market and a related marketing mix
, Herbal Essences tries to sell its hair shampoos and conditioners to young women in their late teens
and early 20s. These women represent Herbal Essences' primary - ANS✅✅target market
In contrast to mass marketing, target marketing - ANS✅✅tailors a marketing mix to fit some
specific group of customers.
-Target marketing says that a marketing mix is tailored to fit some specific target customers.
A firm's "marketing mix" decision areas do NOT include
Price.
-Promotion.
-Place.
-Product.
-People. - ANS✅✅People
"Product" is concerned with
-packaging and warranty.
-branding.
-services.
-physical goods.
-all of these - ANS✅✅all of these
A firm's decisions regarding channel type, market exposure, and kinds of intermediaries would fall
under the marketing mix variable of
Place.
Price.
Product.
Promotion.
People. - ANS✅✅Place
Marketing strategy decisions concerning Promotion include decisions about - ANS✅✅training for
salespeople
