Post MKT315 midterm exam

QUESTION 1

1. A mass market targeting approach is adopted by any company.

   True

   False

5.5 points

QUESTION 2

1. 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

1. The buying process consists of eight stages called the buyphases including:
   

   1. problem recognition
   2. general need description
   3. product specification
   4. supplier search
   5. proposal solicitation
   6. supplier selection
   7. order routine specification
   8. performance review.

   True

   False

5.5 points

QUESTION 4

1. 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

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

   True

   False

5.5 points

QUESTION 6

1. 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

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

10 points (Extra Credit)

QUESTION 8

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

   True

   False

5.5 points

QUESTION 9

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

   True

   False

5.5 points

QUESTION 10

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

   True

   False

5.5 points

QUESTION 11

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

   True

   False

5.5 points

QUESTION 12

1. 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

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

   True

   False

5.5 points

QUESTION 14

1. 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

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

   True

   False

5.5 points

QUESTION 16

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

   True

   False

5.5 points

QUESTION 17

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

   True

   False

5.5 points

QUESTION 18

1. 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

1. 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