Download Midterm Exam Pool Items

MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
Chapter 1
1. The most formal definition of marketing is ________.
a. meeting needs profitably
b. identifying and meeting human and social needs
c. the 4Ps (Product, Price, Place, Promotion)
d. an organizational function and a set of processes for creating, communicating, and
delivering, value to customers, and for managing customer relationships in ways
that benefit the organization and its stake holders.
e. improving the quality of life for consumers
Answer: d
2. A ________ is a written document that summarizes what the marketer has learned
about the marketplace and indicates how the firm plans to reach its marketing
objectives.
a. strategic plan
b. marketing plan
c. sales plan
d. target market plan
e. competitive analysis plan
Answer: b
3. The four elements of the “marketing mix” include all of the following EXCEPT ___?
a. Product
b. People
c. Promotion
d. Price
e. All of the above are marketing mix elements
Answer: b
4. Which of the “marketing mix” elements address wholesalers and retailers?
a. Product
b. People
c. Promotion
d. Price
e. None of the above
Answer: e
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
5. Marketing Planning is a process in which the 4th step is to:
a. Plan segmentation, targeting, positioning
b. Understand markets and customers
c. Plan, direction, objectives, marketing support
d. Develop marketing strategies and programs
e. None of the above
Answer: c
6. Marketing Planning is a process in which the 3rd step is to:
a. Plan segmentation, targeting, positioning
b. Understand markets and customers
c. Plan, direction, objectives, marketing support
d. Develop marketing strategies and programs
e. None of the above
Answer: a
7. Marketing Planning is a process in which the 6th step is to:
a. Plan segmentation, targeting, positioning
b. Understand markets and customers
c. Plan, direction, objectives, marketing support
d. Develop marketing strategies and programs
e. None of the above
Answer: e
8. Which of the following tasks are NOT included in the “marketing control process”?
a. Set marketing plan objectives
b. Situation analysis
c. Measure performance
d. Diagnose results
e. Take corrective action if needed
Answer: b
9. Which marketing Planning stage entails deciding whether to pursue business-tocustomer (B2C) or business-to-business (B2B) markets?
a. Plan segmentation, targeting, positioning
b. Understand markets and customers
c. Plan, direction, objectives, marketing support
d. Develop marketing strategies and programs
e. None of the above
Answer: a
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
10. Which three main outcomes result from an effective “Marketing Planning Process”?
a. customer satisfaction, profit, and market growth
b. value, relationships, and profit
c. relationships, making a difference, and value
d. relationships, value, and innovation
e. None of the above
Answer: c
11. Which of the following is one of the four guiding principles to contribute to customer
value and stay competitive?
a. Anticipate change
b. Engage everyone
c. Seek alliances
d. Make marketing meaningful
e. All of the above
Answer: e
12. Which of the following is NOT a “Network of Alliances” category?
a. Customers & Community
b. Channel Members
c. Suppliers
d. Planners
e. All of the above are Network of Alliance categories
Answer: d
13. Which of the following is NOT a “Network of Alliances” category?
a. Customers & Community
b. Technology
c. Suppliers
d. Partners
e. All of the above are Network of Alliance categories
Answer: b
14. What is the strategic logic of the “Six Approaches to Growth” matrix?
a. Match products and markets
b. Manage growth direction by pursuing sustainable marketing
c. Measure marketing planning based on how in many different squares are entered
d. Model the ideal market scenario assuming no resource limitations or competition
e. None of the Above
Answer: b
15. Which of the following “Six Approaches to Growth” requires the least resources?
a. Penetrate existing markets
b. Expand to new geographic markets
c. Innovate product offers for existing markets
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
d. Diversify
e. None of the Above
Answer: a
16. Which of the following “Six Approaches to Growth” is best for Oil companies
pursuing wind energy generation?
a. Penetrate existing markets
b. Expand to new geographic markets
c. Innovate product offers for existing markets
d. Diversify
e. None of the Above
Answer: d
17. Which of the following “Six Approaches to Growth” requires the greatest change?
a. Penetrate existing markets
b. Expand to new geographic markets
c. Innovate product offers for existing markets
d. Diversify
e. None of the Above
Answer: d
18. Which of the following “Six Approaches to Growth” is best for Oil companies facing
declining U.S. gasoline demand?
a. Penetrate existing markets
b. Expand to new geographic markets
c. Innovate product offers for existing markets
d. Diversify
e. None of the Above
Answer: b
19. Which of the following “Six Approaches to Growth” is best for Oil companies
preparing for bio-fuel and electric automobiles globally?
a. Penetrate existing markets
b. Expand to new geographic markets
c. Innovate product offers for existing markets
d. Diversify
e. None of the Above
Answer: c
20. Which of the following “Six Approaches to Growth” is best for Oil companies to
respond to global commodity speculation?
a. Penetrate existing markets
b. Expand to new geographic markets
c. Innovate product offers for existing markets
d. Diversify
e. None of the Above
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
Answer: e
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
Chapter 2
1. The two types of strategic factors required to map an effective marketing plan are:
a. supply and demand
b. macroenvironment and microenvironment
c. past and future
d. internal and external
e. None of the above
Answer: b
2. The two types of environmental scanning that must be done for SWOT analysis are:
a. supply and demand
b. macroenvironment and microenvironment
c. past and future
d. internal and external
e. None of the above
Answer: d
3. With the rapidly changing global picture, the firm must monitor seven major forces. All of
the following would be among those forces EXCEPT ________.
a. demographic
b. economic
c. social-cultural
d. global
e. ecological
Answer: d
4. The main demographic force that marketers monitor is(are) ________.
a. suppliers
b. population
c. communication (such as advertising)
d. government reports dealing with birth rates
e. competitors
Answer: d
5. Marketers need to be aware of threats and opportunities associated with four trends in the
ecological environment. All of the following are among those trends EXCEPT
________.
a. the shortage of raw materials
b. the increased cost of energy
c. near 90 percent corporate support for “green causes”
d. increased pollution levels
e. the changing role of governments
Answer: c
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
6. The marketer should monitor the following trends in technology, EXCEPT ________, if
progress is to be made in business.
a. global digital technology penetration
b. high technology company CEOs
c. cutting edge innovations
d. industry technology standards
e. government technology regulation
Answer: b
7. A S.W.O.T. analysis
a. seeks to improve strategy planning by "Scanning for Warnings, Omens, and Tips"
about competitors' plans.
b. is not necessary if competitors have already entered the market.
c. defends against potential competitive threats by planning specific "safeguards,
weapons, or tactics."
d. should help a manager develop a strategy that leads to a competitive advantage.
e. None of the above is a good answer.
Answer: d
8. A S.W.O.T. analysis can help a marketing manager:
a. define what business and markets the firm wants to compete in.
b. narrow down strategic market options from the many alternatives available.
c. see the pros and cons of different possible strategies.
d. develop a competitive advantage.
e. all of the above.
Answer: e
9. A S.W.O.T. analysis ___
a. focuses on what a firm plans to do to "Satisfy Wishes Of a Target" customer.
b. summarizes a firm's "strategy, wishes (of its customers), outlook and tactics."
c. helps defend against potential competitors by developing a set of competitive
"safeguards, weapons, offensives, and tactics."
d. identifies a firm's "strengths, weaknesses, opportunities and threats."
e. seeks to reduce the risk of competitive surprises by scanning the market for
"signals, warnings, omens, and tips."
Answer: d
10. The marketer should monitor the following political-legal trends, EXCEPT ____
a. anti-trust laws
b. tax policies
c. anti-trust competition policies
d. voting election laws
e. product liability laws
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
Answer: d
11. The key factors for Environmental Scanning include:
a. past, present, future
b. paid, unpaid, shared
c. company, industry, government
d. hardcopy, electronically saved, and online
e. None of the above
Answer: e
12. Internal environment analysis do NOT include:
a. mission
b. resources
c. offerings
d. projected results
e. All of the above are included in internal environment analysis
Answer: d
13. Which of the following is NOT included in the 5 competitive forces?
a. Industry competitors
b. Potential entrants
c. Brokers
d. Suppliers
e. All of the above are included in the 5 competitive forces
Answer: c
14. Which factor is best to judge strengths and weaknesses in the current financial industry?
a. Past performance trends
b. Comparison against competitors
c. Specific goals or targets
d. Personal opinion of strategic decision makers
e. All of the above
Answer: e
15. Which of the external environment elements impact on the current financial industry most?
a. Demographics
b. Economics
c. Ecological
d. Competitive
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
e. None of the above
Answer: b
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
Chapter 3
1. A “market” is defined as ___
a. all of the buyers for a particular product
b. all potential buyers for a particular product
c. all future buyers for a particular product
d. all of the targeted buyers for a potential product
e. None of the above
Answer: b
2. The two primary types of “markets” to analyze are ___
a. consumers and customers
b. private and public
c. paying and nonpaying
d. male and female
e. None of the above
Answer: e
3. A “broad definition of the market” includes all of the following levels EXCEPT?
a. Potential
b. Available
c. Quantified
d. Target
e. b & c
Answer: c
4. For the rental car market, a driver who can afford rental fees in the service area is ___
a. Potential market
b. Available market
c. Target market
d. Penetrated market
e. None of the above
Answer: b
5. What is used by marketing planners as a measure of market penetration?
a. Market share
b. Customer satisfaction
c. Sales trends
d. Demand forecasts
e. All of the above
Answer: a
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
5. Which of the following is a primary research source for consumer markets?
a. Observation
b. Survey
c. Experience
d. Ethnographic
e. All of the above
Answer: c
6. Which of the following is NOT a “Personal factor” for individual consumers?
a. Life cycle
b. Family
c. Lifestyle
d. Perception
e. Attitudes
Answer: b
7. Which of the following is NOT an “Organizational Consideration” for business
customers?
a. Size
b. Industry
c. Competition
d. Suppliers
e. Resources
Answer: d
8. Which of the following is NOT a “Cultural Consideration” for individual consumers?
a. Friends
b. Beliefs
c. Ethnicity
d. Nationality
e. Social Class
Answer: a
9. Which of the following is NOT a “Social Connection” for individual consumers?
a. Clubs
b. Colleagues
c. Civic groups
d. Celebrities
e. Social Class
Answer: e
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
10. Which “broad market” level applies to upscale health clinic patients without insurance?
a. Potential market
b. Available market
c. Qualified available
d. Target market
e. Penetrated market
Answer: a
11. Which “broad market” level applies to insured heart patients at a cancer center?
a. Potential market
b. Available market
c. Qualified available
d. Target market
e. Penetrated market
Answer: c
12. Which “broad market” level applies to insured mothers with children visiting a pediatric
clinic for a follow-up appointment?
a. Potential market
b. Available market
c. Qualified available
d. Target market
e. Penetrated market
Answer: e
13. Which “broad market” level applies to upscale health clinic patients without insurance?
a. Potential market
b. Available market
c. Qualified available
d. Target market
e. Penetrated market
Answer: a
NOTE: #14 & #15 ELIMINATED
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
Chapter 4
1. A ________ consists of a group of customers who share a similar set of needs and
wants.
a. market target
b. market group
c. market slice
d. market segment
e. market level
Answer: d
2. If a marketer decides that segmenting a market based on neighborhoods, the marketer
will have chosen the ________ method of segmentation.
a. demographic
b. psychographic
c. geographic
d. cultural
e. social class
Answer: c
3. ________ is the science of using psychology and demographics to better understand
consumers.
a.
b.
c.
d.
e.
Answer: a
Psychographics
Segmentation
Clustering
Demographics
Social psychology
4. A marketing manager is considering several options to market to market segments
identified as being either, academically-oriented, sports-oriented, or outdoor-oriented.
This manager has selected the ________ method for segmenting markets.
a. personality
b. behavioral occasions
c. user status
d. psychographic lifestyle
e. readiness stage
Answer: d
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
5. The two ways that large firms can cover a whole market (e.g., full market coverage
strategy) are through ________ and differentiated marketing.
a. undifferentiated
b. logistical
c. psychological
d. niche
e. macromarketing
Answer: a
6. In ________ marketing, the firm operates in several market segments and designs
different products for each segment.
a. segmented
b. undifferentiated
c. differentiated
d. geodemographic
e. niche
Answer: c
7. Business markets can be segmented according to the following variables, EXCEPT __.
a. demographic
b. geographic
c. psychographic
d. behavioral
e. All of the above can be used for business markets
Answer: c
8. When “assessing segment attractiveness” which of the following factors is NOT included?
a. Market factors
b. Ecological factors
c. Competitive factors
d. Business environment factors
e. All of the above are included
Answer: b
9. Volatile economic fluctuations in a selected market segment is addressed by ___
a. Market factors
b. Community factors
c. Economic and technological factors
d. Business environment factors
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
e. All of the above are included
Answer: d
10. How are marketers gaining deeper insights to sharpen the focus on segment customers?
a. Probes
b. Personas
c. Portraits
d. Profiles
e. None of the above
Answer: b
11. Which strategic technique is intended to achieve “meaningful differentiation”?
a. branding
b. diversification
c. positioning
d. value proposition
e. None of the above
Answer: c
12. Which pair strategic techniques profiles the extrinsic and intrinsic customer factors?
a. external and internal environments
b. tangibles and intangibles
c. segmentation and positioning
d. monetary and nonmonetary
e. None of the above
Answer: c
13. Positioning techniques chart the brand values and benefits using a ___
a. bar chart
b. lifestyle map
c. perceptual map
d. trend graph
e. None of the above
Answer: c
14. U.S. automotive market segmentation for hybrid and eco-friendly cars uses ___
a. Demographic profiles
b. geographic profiles
c. psychographic profiles
d. All of the above
e. None of the above
Answer: c
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MIDTERM EXAM POOL ITEMS
(Marketing Plan Handbook, Wood)
** Midterm Exam will NOT INCLUDE questions with numbers (#, %, $) or proper names (people, places, brands) **
15. U.S. automotive companies position sports cars using ___
a. affordability
b. luxury
c. convenience
d. fuel economy
e. None of the above
Answer: e
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