MKT 3401 UPDATED Exam Study Guide
ACTUAL QUESTIONS AND CORRECT
ANSWERS
A strategy of increasing sales by introducing new products into new markets is called:
A. Diversification
B. Escalation
C. Market share expansion
D. Market penetration - CORRECT ANSWER A
The belief that people will buy more goods and services if aggressive sales techniques are used and
that high sales lead to high profits is called a/an:
A. Financial orientation
B. Economic orientation
C. Sales orientation
D. Production orientation - CORRECT ANSWER C
The idea that social and economic justification for an organization's existence is the satisfaction of the
customer's wants and needs is called:
A. Managerial Concept
B. Economic Concept
C. Financial Concept
D. Marketing Concept - CORRECT ANSWER D
A marketing strategy that entails attracting new customers to existing products is:
A. Market development
B. Market orientation
C. Market opportunity
D. Market management - CORRECT ANSWER A
, What is the goal of strategic planning?
A. Consumer and company relationships
B. Long-run profitability and growth
C. Financial success
D. Environmental-friendly community work - CORRECT ANSWER B
A managerial process of creating and maintaining a fit between the organizational objectives and
resources with the evolving market opportunities is called:
A. Objective Revision
B. Strategic Planning
C. Managerial alignment
D. Behavioral management - CORRECT ANSWER B
A philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a
customer's decision to purchase a product; it is synonymous with the marketing concept. This strategy
focuses on the customer and satisfying the customer's needs and wants.
A. production orientation
B. market orientation
C. sales orientation
D. societal marketing orientation - CORRECT ANSWER B
The moral principles or values that govern the conduct of an individual or group are
A. Behavioral traits
B. Conventions
C. Standards
D. Ethics - CORRECT ANSWER D
People giving up something in order to receive something else they would rather have is called a/an:
A. Business objective
B. Strategic plan
C. Exchange
ACTUAL QUESTIONS AND CORRECT
ANSWERS
A strategy of increasing sales by introducing new products into new markets is called:
A. Diversification
B. Escalation
C. Market share expansion
D. Market penetration - CORRECT ANSWER A
The belief that people will buy more goods and services if aggressive sales techniques are used and
that high sales lead to high profits is called a/an:
A. Financial orientation
B. Economic orientation
C. Sales orientation
D. Production orientation - CORRECT ANSWER C
The idea that social and economic justification for an organization's existence is the satisfaction of the
customer's wants and needs is called:
A. Managerial Concept
B. Economic Concept
C. Financial Concept
D. Marketing Concept - CORRECT ANSWER D
A marketing strategy that entails attracting new customers to existing products is:
A. Market development
B. Market orientation
C. Market opportunity
D. Market management - CORRECT ANSWER A
, What is the goal of strategic planning?
A. Consumer and company relationships
B. Long-run profitability and growth
C. Financial success
D. Environmental-friendly community work - CORRECT ANSWER B
A managerial process of creating and maintaining a fit between the organizational objectives and
resources with the evolving market opportunities is called:
A. Objective Revision
B. Strategic Planning
C. Managerial alignment
D. Behavioral management - CORRECT ANSWER B
A philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a
customer's decision to purchase a product; it is synonymous with the marketing concept. This strategy
focuses on the customer and satisfying the customer's needs and wants.
A. production orientation
B. market orientation
C. sales orientation
D. societal marketing orientation - CORRECT ANSWER B
The moral principles or values that govern the conduct of an individual or group are
A. Behavioral traits
B. Conventions
C. Standards
D. Ethics - CORRECT ANSWER D
People giving up something in order to receive something else they would rather have is called a/an:
A. Business objective
B. Strategic plan
C. Exchange
