Question 1: The marketing research process is a five-step application of the scientific method that includes:
a. Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, and solving the problem
b. Defining the target market, analyzing the customers, getting survey feedback, interpreting the data, and launching the marketing campaign
c. Defining the marketing campaign goals, analyzing the product features, analyzing the situation, getting budget approval, and launching the marketing campaign
d. Defining the problem, conducting surveys, analyzing survey feedback, interpreting the data, and changing product attributes
e. Defining company goals, analyzing customers, analyzing products, conducting interviews, and changing product attributes
Question 2: What are ethics?
a. Pressure on business conduct
b. Consumer Bill of Rights
c. Standard of societal morals
d. Conducted in the United States
e. Personal moral principals and values
Question 3: The four major e-marketing domains include all of the following except:
a. Business to Consumer
b. Business to Wholesaler
c. Business to Business
d. Consumer to Consumer
e. Consumer to Business
Question 4: How many variables are there in the marketing mix?
a. 02
b. 03
c. 04
d. 05
e. 06
Question 5: Ideally, "good market segments meet the following criteria:
a. Single market, unique, screening, idea evaluation, and segmented
b. Competitive, homogeneous, diversified, and penetrated
c. Homogeneous, heterogeneous, geographic, and penetrated
d. Homogeneous, heterogeneous, substantial, and operational
e. Substantial, multiple target, operational, and homogeneous
Question 6: Decisions regarding price are important because it affects both:
a. Flexibility and company earnings
b. The number of sales a firm makes and company earnings
c. Product life cycle and discounts
d. Discounts and company earnings
e. Transportation cost and company earnings
Question 7: __________ policy maximizes profits in the market introduction stage for an innovation.
a. One price
b. Penetration pricing
c. Skimming price
d. Flexible price
e. Multiple price
Question 8: Relationship marketing refers to:
a. Ensuring you have a relationship between your product characteristics and price
b. Setting a price based on a fixed relationship between revenue and profit
c. Working with your suppliers to create a good relationship between them
d. Developing promotional material to show your product's relationship to others
e. Establishing an ongoing relationship with your customers to encourage repeat sales
Question 9: All of the following are uses for technology in marketing except:
a. Blogs
b. Fax Campaigns
c. Websites
d. Data Mining
e. Customer Relationship Management
Question 10: The following are all factors affecting a firm's decision to pursue market segmentation strategy except:
a. Similarity of customer needs, attitudes, and buying behavior
b. Firm's resources
c. Nature of competition
d. Homogeneous markets
e. Size of target markets