Post MKT315 midterm exam

Post MKT315 midterm exam

Question
QUESTION 1

    A mass market targeting approach is adopted by any company.

    True

    False

5.5 points
QUESTION 2

    The set of tasks necessary for successful marketing management include
        developing marketing strategies and plans
        capturing marketing insights
        connecting with customers
        building strong brands
        shaping the market market offerings
        delivering and communicating value
        creating long-term growth

    True

    False

6.5 points
QUESTION 3

    The buying process consists of eight stages called the buyphases including:
        problem recognition
        general need description
        product specification
        supplier search
        proposal solicitation
        supplier selection
        order routine specification
        performance review.

    True

    False

5.5 points
QUESTION 4

    Customer relationship management requires building a customer database and data mining to detect trends, segments, and individual needs.

    True

    False

5.5 points
QUESTION 5

    A company's closest competitors are those seeking to satisfy different customers.

    True

    False

5.5 points
QUESTION 6

    The marketing research process consists of:

        define the problem and research objectives
        develop the research plan
        collecting the information
        analysis the information
        present the findings
        make the decision

    True

    False

5.5 points
QUESTION 7

    Like products, markets evolve through four stages: emergence, growth, ___________ and decline.

10 points (Extra Credit)
QUESTION 8

    The six major environmental forces includedemographic, economic, social-culture. natural,technological and political-legal forces.

    True

    False

5.5 points
QUESTION 9

    The two types of demand include market demand and product demand.

    True

    False

5.5 points
QUESTION 10

    Consumer behavior is influenced by these three factors: entertainment, social and personal.

    True

    False

5.5 points
QUESTION 11

    To be useful market segments must be rewarding, substantial, accessible, differentiable and actionable.

    True

    False

5.5 points
QUESTION 12

    Based on the Marketing Insight article in your text, page 255Brand Value Chainthe model assumes that there are three multipliers that moderate the transfer between the marketing program and the three value stages. The three multipliers include the master multiplier, customer multiplier and market multiplier.

    True

    False

5.5 points
QUESTION 13

    The four main psychological processes that affect consumer behavior include:motivation, perception, learning and memory.

    True

    False

5.5 points
QUESTION 14

    Market-oriented strategic planning is the managerial process of developing and maintaining a viable fit between the organization's:
        objectives
        skills and resources
        changing market opportunities.

    True

    False

5.5 points
QUESTION 15

    Each product life cycle stage call for the same marketing strategies.

    True

    False

5.5 points
QUESTION 16

    A buyer's satisfaction is a function of theproduct's perceived performance and the company's expectations.

    True

    False

5.5 points
QUESTION 17

    The three target marketing activities include:market segmentation, market negotiation and market positioning.

    True

    False

5.5 points
QUESTION 18

    Marketing is an organization function and a set of processes for creating, communicating and delivering value to customers managing supplier relationships in ways that benefit the organization and its stakeholders.

    True

    False

5.5 points
QUESTION 19

    The five competing concepts that an organization can choose to conduct business include production concepts, product concepts, selling concepts, marketing concepts and grassroots marketing concepts.

    True

    False