CSUF Bus Mktg 351 Exam 1 Review Questions
With All Correct & Verified Answers
If a car company releases an affordable model, but the vehicle is only available in white, would it be
successful in today's market?
a. No, because consumers have specific wants
b. Yes, the vehicle will be affordable
c. No, white color is not appealing
d. Yes, there is always a market for any product Correct answer-a. No, because consumers have
specific wants
What is the American Market Association's definition of marketing?
a. The activity, set of institutions, and processes for creating, communicating, delivering and
exchanging offerings that have value for customers, clients, partners and society at large
b. The management of supply chain activities to achieve a sustainable competitive advantage
c. Recording business transactions on behalf of an organization, reporting on company performance
to management, and issuing financial statements
d. Creating processes to secure and store all transactions with customers Correct answer-a. The
activity, set of institutions, and processes for creating, communicating, delivering and exchanging
offerings that have value for customers, clients, partners and society at large
Which philosophy is focused on reducing cost?
a. Product philosophy
b. Sales philosophy
c. Societal philosophy
d. Production philosophy Correct answer-d. Production philosophy
What is product philosophy?
a. Making sure the final product is received by the customers
b. Emphasizing push and hard selling
c. Focusing on getting the best value to customers
d. Focusing on producing the highest quality goods Correct answer-d. Focusing on producing the
highest quality goods
An electric vehicle that offers a new, longer lasting battery at the existing prices is an example of a
company focusing on:
a. Customer satisfaction
b. Relationship marketing
c. Customer value
d. Opportunity cost Correct answer-c. Customer value
What is relationship marketing?
a. Marketing team building a relationship with its peers in the service department
b. Developing and enhancing long-term relationships between a seller and its customers
c. Long term relationship between suppliers and distributors
d. Long term relationship between corporate officers and local market managers Correct answer-b.
Developing and enhancing long-term relationships between a seller and its customers
Why is diversification a risky proposition?
a. The company gets spread too thin
, b. Adding a market leads to standardization
c. The company is not familiar with the market or the product
d. Long term profits are likely to decrease because of added costs Correct answer-c. The company
is not familiar with the market or the product
What is the focus of the BCG matrix?
a. A company should have profitable SBUs
b. A company should have high growth SBUs
c. A company should have a well-balanced portfolio
d. A company should aim to maximize its current profits Correct answer-c. A company should have
a well-balanced portfolio
A software is the market leader in a stable market. What quadrant does the software belong to?
a. Star
b. Question mark
c. Dog
d. Cash cow Correct answer-d. Cash cow
GE Matrix, how do companies evaluate the overall attractiveness of the portfolio?
a. The SBUs should be spread out
b. Most of the SBUs should be in the higher attractiveness cells
c. Most of the SBUs should be in the middle attractiveness cells
d. It is hard to determine the overall attractiveness Correct answer-b. Most of the SBUs should be
in the higher attractiveness cells
Which of the following is not a step in the marketing plan?
a. Business mission
b. Marketing strategy
c. Implementation and control
d. Research and development Correct answer-d. Research and development
What is ethics?
a. Rules that need to be followed in our daily lives
b. The moral principles that govern the conduct of an individual or group
c. The manifestations of collective human intellect
d. Laws specified by the government Correct answer-b. The moral principles that govern the
conduct of an individual or group
Which of the following is an element of sustainability?
a. Financial sustainability
b. Marketing sustainability
c. Caring for our environment
d. Legal sustainability Correct answer-c. Caring for our environment
A company manufactures and markets reusable metal straws. What factor of the pyramid is the
company likely following?
a. Legal responsibilities
b. Economic responsibilities
c. Philanthropic responsibilities
d. Marketing responsibilities Correct answer-c. Philanthropic responsibilities
With All Correct & Verified Answers
If a car company releases an affordable model, but the vehicle is only available in white, would it be
successful in today's market?
a. No, because consumers have specific wants
b. Yes, the vehicle will be affordable
c. No, white color is not appealing
d. Yes, there is always a market for any product Correct answer-a. No, because consumers have
specific wants
What is the American Market Association's definition of marketing?
a. The activity, set of institutions, and processes for creating, communicating, delivering and
exchanging offerings that have value for customers, clients, partners and society at large
b. The management of supply chain activities to achieve a sustainable competitive advantage
c. Recording business transactions on behalf of an organization, reporting on company performance
to management, and issuing financial statements
d. Creating processes to secure and store all transactions with customers Correct answer-a. The
activity, set of institutions, and processes for creating, communicating, delivering and exchanging
offerings that have value for customers, clients, partners and society at large
Which philosophy is focused on reducing cost?
a. Product philosophy
b. Sales philosophy
c. Societal philosophy
d. Production philosophy Correct answer-d. Production philosophy
What is product philosophy?
a. Making sure the final product is received by the customers
b. Emphasizing push and hard selling
c. Focusing on getting the best value to customers
d. Focusing on producing the highest quality goods Correct answer-d. Focusing on producing the
highest quality goods
An electric vehicle that offers a new, longer lasting battery at the existing prices is an example of a
company focusing on:
a. Customer satisfaction
b. Relationship marketing
c. Customer value
d. Opportunity cost Correct answer-c. Customer value
What is relationship marketing?
a. Marketing team building a relationship with its peers in the service department
b. Developing and enhancing long-term relationships between a seller and its customers
c. Long term relationship between suppliers and distributors
d. Long term relationship between corporate officers and local market managers Correct answer-b.
Developing and enhancing long-term relationships between a seller and its customers
Why is diversification a risky proposition?
a. The company gets spread too thin
, b. Adding a market leads to standardization
c. The company is not familiar with the market or the product
d. Long term profits are likely to decrease because of added costs Correct answer-c. The company
is not familiar with the market or the product
What is the focus of the BCG matrix?
a. A company should have profitable SBUs
b. A company should have high growth SBUs
c. A company should have a well-balanced portfolio
d. A company should aim to maximize its current profits Correct answer-c. A company should have
a well-balanced portfolio
A software is the market leader in a stable market. What quadrant does the software belong to?
a. Star
b. Question mark
c. Dog
d. Cash cow Correct answer-d. Cash cow
GE Matrix, how do companies evaluate the overall attractiveness of the portfolio?
a. The SBUs should be spread out
b. Most of the SBUs should be in the higher attractiveness cells
c. Most of the SBUs should be in the middle attractiveness cells
d. It is hard to determine the overall attractiveness Correct answer-b. Most of the SBUs should be
in the higher attractiveness cells
Which of the following is not a step in the marketing plan?
a. Business mission
b. Marketing strategy
c. Implementation and control
d. Research and development Correct answer-d. Research and development
What is ethics?
a. Rules that need to be followed in our daily lives
b. The moral principles that govern the conduct of an individual or group
c. The manifestations of collective human intellect
d. Laws specified by the government Correct answer-b. The moral principles that govern the
conduct of an individual or group
Which of the following is an element of sustainability?
a. Financial sustainability
b. Marketing sustainability
c. Caring for our environment
d. Legal sustainability Correct answer-c. Caring for our environment
A company manufactures and markets reusable metal straws. What factor of the pyramid is the
company likely following?
a. Legal responsibilities
b. Economic responsibilities
c. Philanthropic responsibilities
d. Marketing responsibilities Correct answer-c. Philanthropic responsibilities
