Midterm Exam Questions

1. Marketing is the delivery of customer satisfaction at a profit

2.When backed by buying power, wants become demands.

3. The most basic cause of a person’s wants and behavior is culture.

4. The most extreme form of micromarketing is individual marketing.

5. Services consist of activities, benefits, and satisfactions that are basically intangible.

6. A(n) product is anything that can be offered to satisfy a need or want

7. CUSTOMER SATISFACTION pertains to the product’s perceived performance in relation

to a buyer’s expectations

8. _Business____markets buy goods and services either for resale or for

further processing

9. Marketing is best defined as social and managerial process.

10. Which of the following element is related to 4”P”?product, price, place, promotion.

11. Which of the marketing concepts mainly focused on quality and assortment of product?

12. How can you define marketing? The management process through which goods and services move from concept to the customer.

13. The twofold goal of marketing is to keep and grow current customers by delivering satisfaction and to: to keep and grow current customers by delivering satisfaction.

14. Which of the following phrases best identifies how marketing must be understood today? “satisfying customer needs.”

15. Which of the following is defined as being a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others? marketing

16. Which of the following would be an appropriate definition for a "need"? A motivating force that compels action for its satisfaction.

17. Customer value is the difference between the values the customer gains from owning and the costs of obtaining the product.

18. Customer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation.

19. If a consumer goes through the act of obtaining a desired object from someone by offering something in return, the consumer has just gone through the act of: exchange

20. Concept that satisfies customers through profit and societal benefits in long run

21) Set of actual and potential buyers_Market

22) Form of paid mass promotion through use of media vehicle_advertising

23) Anything that can be offered to a market for acquisition, consumption is a_ product

24) There are five alternative concepts under which organizations conduct their marketing activities Which concept holds that consumers will favor products that are available and highly affordable? product concept

25) The marketing environment is the actors and forces outside marketing that affect marketing management's ability to: to develop and maintain successful relationships with its target customers.

26) All of the following would be forces that might be contained in a company's microenvironment EXCEPT_Economic forces

27) Which of the following would be considered to be external to a company's internal environment? Marketing intermediaries.

28) Marketing research firms, advertising agencies, and media firms would all be examples of which of the following marketing intermediaries? Marketing service agencies

29) . Which of the following publics would MOST LIKELY include managers, volunteers, and the board of directors? Internal public

30) Which of the following publics would MOST LIKELY include neighborhood residents? Не нашла

31) Which of the following publics would MOST LIKELY include banks, investment houses? Financial public

32) Which of the following environments is primary in its effect on consumer buying power and spending patterns? Economic environment

33) Which of the following environments includes age, sex, occupations? demographic environments

34) Which of the following environments includes law, government agencies? Political environment

35)Which of the following environments includes high R&D budget and increased regulations? Company`s internal environments

36) Which of the following environments examines institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors? Cultural

37) If a consumer researcher were to examine beliefs and values that were passed on from parents to children and were reinforced by schools, churches, business, and government, the researcher would be examining which of the following types of beliefs and values? Core beliefs and values.

38) Culture swing e.g. Music, movies, hairstyle are examples of _________________

39) A Company’s microenvironment consists of all of the following except:competitors

40) A company’s macroenvironment consists of all of the following except: customers

41 Information gathered from when the company is internal databases.

42 All of the following would be considered to be sources for developing needed information for an organization through a marketing information system EXCEPT: Psychometric simulation and projection.

43 If an organization were to analyze sales records maintained by the accounting department to make decisions on whether the sales force should be expanded or not, the organization would be using which of the following forms of information to make the decision? internal databases.

44 Internal records can be accessed more quickly and cheaply than other information sources even though they also can present some problems for the researcher

45 Which of the following would probably be the best way to gather information about competitors? marketing intelligence

46 During which step of the marketing research process does the researcher actually collect data? Step 3 , implementing the research plan.

47 During which step of the marketing research process does the researcher plan the data collection? Step 2, developing the research plan for collecting information

48 Which of the following research types would be most appropriate if the marketing researcher wished to discover how consumers buy something? Descriptive research

49 If a researcher can answer research questions with information that has already been collected or information that exists in another place {even though it was collected for another purpose}, the researcher would probably be considering using which of the following types of information? Secondary data

50 Information collected for a specific purpose is primary data.

51 Marketing research used to gather primary information that will better define problem exploratory research.

52 The most widely used form of research for gathering primary data and the form that is best suited to gathering descriptive research is called: survey research

53 Which of the following systems would be used if a researcher were to use a people meter or store scanner in a checkout line? Research instruments

54 Which of the following contact methods would be excellent in speed of data collection? telephone

55 Which of the following contact methods would be excellent in flexibility of data? personal

56 Which of the following contact methods would be excellent in quantity of data collected? personal

57. Marketing research is/are the systematic collection of publicly available information about competitors and developments in the marketing environment.

58. Data mining is the modern practice of analyzing databases closely for buried information about customers.

59. Marketing information systems and marketing research have changed rapidly because customers and companies around the world have been linked by the internet.

60. A study that is valid and reliable? Measures what it is supposed to measure and produces almost identical results every time.