Title: Marketing Function
Course: Question Banks

Q: Marketing is best defined as the activities, organizations, and processes for ________.
- designing, building, delivering and supporting a product or service.
- advertising, building awareness of and promoting an object of value for customers.
- designing and strategically releasing promotional materials to consumers.
- creating, communicating, delivering, and exchanging offerings that customers value.
A: creating, communicating, delivering, and exchanging offerings that customers value.

Q: You majored in marketing in college and now you are ready to find your first marketing job! Which of the following job descriptions describes a job in the marketing field?
- Company B is looking for a well qualified employee to call potential customers and sell company products.
- Company C would like a great employee that can create and maintain a user friendly website to attract customers.
- Company D is looking for a creative employee who can write and design engaging advertisements.
- Company A seeks an excellent employee to help identify potential customers, understand customer needs and values and who will work to satisfy customer needs and retain current customers.
A: Company A seeks an excellent employee to help identify potential customers, understand customer needs and values and who will work to satisfy customer needs and retain current customers.

Q: The role of marketing is to
- Notify, create, and satisfy customers.
- Communicate with, identify, and gain customers.
- Develop strong brand awareness for companies.
- Identify, satisfy, and retain customers.
A: Identify, satisfy, and retain customers.

Q: An organization that adopts the ________ concept takes steps to know as much about the consumer as possible.
- product
- sales
- service
- marketing
A: marketing

Q: A company that is using the marketing concept would do which of the following first:
- Invest greatly in research and development so that the company can produce the most innovative products possible.
- Consider the production capacity of the business.
- Build a strong online presence through an engaging website and ads.
- Seek to fully understand the customer's needs
A: Seek to fully understand the customer's needs

Q: How is the marketing concept different from the product concept?
- The marketing concept seeks to create strong marketing materials that are cohesive and coordinated throughout the organization to support each product and service. The product concept seeks to capitalize on the company’s ability to innovate and create a compelling product.
- The marketing concept seeks to fully understand the market environment utilizing print, electronic and social media. The product concept seeks to create the best value for the customer by making a great product at a great price.
- The marketing concept seeks to identify the most cost-effective way to design and maintain a captivating brand image. The product concept focuses on releasing the most technologically advanced products to the market.
- The marketing concept seeks to fully understand the customer and then use that knowledge to make marketing, product and even strategy decisions.The product concept seeks to capitalize on the company’s ability to innovate and create a compelling product.
A: The marketing concept seeks to fully understand the customer and then use that knowledge to make marketing, product and even strategy decisions.The product concept seeks to capitalize on the company’s ability to innovate and create a compelling product.

Q: An organization’s value proposition can be described as:
- A proposition explaining the value an organization brings to the community.
- A statement detailing how much value a customer will receive when he or she considers how much a product or service costs minus how much effort when into making the purchase.
- A statement that describe the values of the company’s executive board.
- A statement that summarizes why a consumer should buy a product or use a service.
A: A statement that summarizes why a consumer should buy a product or use a service.

Q: When creating a value proposition, the statement should be:
- Concise, compelling and dynamic
- Clear, consistent and dominant
- Captivating, consistent, and verbose
- Clear, compelling and differentiating
A: Clear, compelling and differentiating

Q: A marketing statement that summarizes why a consumer should buy a product or use a service is a ________.
- product differentiation
- competitive advantage
- marketing advantage
- value proposition
A: value proposition

Q: It is important to manage customer relationships because customers provide a great deal of value to the company if they remain customers for many years. ________ predicts how much profit is associated with a customer during the course of their lifetime relationship with a company.
- Product lifetime value
- Production lifetime value
- Sales lifetime value
- Customer lifetime value
A: Customer lifetime value

Q: The marketing activity that measures and improves customer satisfaction belongs to which of the following relationship stages?
- Meeting and Getting Acquainted Relationship Stage
- Sustain a Committed Relationship Stage
- Ending the Relationship Stage
- Providing a Satisfying Experience Relationship Stage
A: Providing a Satisfying Experience Relationship Stage

Q: The marketing activity that builds awareness and demand for what you offer belongs to which of the following relationship stages?
- Providing a Satisfying Experience Relationship Stage
- Sustain a Committed Relationship Stage
- Ending the Relationship Stage
- Meeting and Getting Acquainted Relationship Stage
A: Meeting and Getting Acquainted Relationship Stage

Q: The marketing activity that converts contacts into loyal repeat customers belongs to which of the following relationship stages?
- Meeting and Getting Acquainted Relationship Stage
- Providing a Satisfying Experience Relationship Stage
- Ending the Relationship Stage
- Sustain a Committed Relationship Stage
A: Sustain a Committed Relationship Stage

Q: ________ pertain to the consumer’s level of involvement in a buying task and the market offerings that are available.
- Personal Factors
- Psychological Factors
- Economic Factors
- Situational Factors
A: Situational Factors

Q: ________ relate to the consumer’s motivation, learning, socialization, attitudes, and beliefs.
- Personal Factors
- Situational Factors
- Economic Factors
- Psychological Factors
A: Psychological Factors

Q: ________ are individual characteristics and traits such as age, life stage, economic situation, and personality.
- Situational Factors
- Psychological Factors
- Economic Factors
- Personal Factors
A: Personal Factors

Q: ________ pertain to the influence of culture, social class, family, and reference groups.
- Personal Factors
- Psychological Factors
- Economic Factors
- Social Factors
A: Social Factors

Q: The buying process does NOT include:
- evaluation
- need recognition
- decision regret
- generational adaptation
A: generational adaptation

Q: Which of the following is the first step of the consumer decision-making process:
- evaluation
- generational adaptation
- information searching
- need recognition
A: need recognition

Q: Which of the following statements is TRUE?
- All consumers have the same evaluation criteria.
- Marketers can ignore postpurchase behavior once transaction is complete.
- It is easy for marketers to identify consumer evaluation criteria.
- Evaluation criteria vary from consumer to consumer.
A: Evaluation criteria vary from consumer to consumer.

Q: Which of the following correctly lists all five steps that are part of the buying process?
- Information search, need recognition, benefit alignment, selection, post-purchase evaluation
- Environmental scanning, need recognition, research, purchase, post-purchase evaluation
- Need recognition, evaluation, information search, purchase, post-purchase evaluation
- Need recognition, information search, evaluation, purchase, post-purchase evaluation
A: Need recognition, information search, evaluation, purchase, post-purchase evaluation

Q: Which of the following is the first step when defining your target market?
- Segment your total market.
- Profile your target customer segment(s).
- Develop a marketing plan for the entire target market.
- Identify the customer need you address.
A: Identify the customer need you address.

Q: The demographic type of market segmentation approach uses which of the following criteria:
- User status, purchase occasion, loyalty, readiness to buy.
- Lifestyle, personality, attitudes, and social class.
- Attitudes, culture, interests, and readiness to buy.
- Age, gender, family size, income, occupation, education, religion, ethnicity, and nationality.
A: Age, gender, family size, income, occupation, education, religion, ethnicity, and nationality.

Q: Which of the following is an example of a primary research source for segmentation and targeting?
- Business directory.
- Newspaper article.
- Industry report
- Focus group.
A: Focus group.

Q: Why would a company seek to define its target market as a component in creating the company's marketing strategy?
- Defining a target market will help a company target it’s perfect customer and create products that the target customer would like.
- Targeting a specific customer will help the company save money and stay focused on company strategy in the future.
- Defining a target market makes it easier for the marketing department to justify their need for increased funding. With their increased funds, they can release more ads and increase sales.
- If a company carefully defines its target market, the company will be able to focus on people with a preexisting need or interest in what it offers. Therefore resulting in higher sales and less wasted time and effort on potential customers that are not interested in what the company has to offer.
A: If a company carefully defines its target market, the company will be able to focus on people with a preexisting need or interest in what it offers. Therefore resulting in higher sales and less wasted time and effort on potential customers that are not interested in what the company has to offer.

Q: Which of the following statements is INCORRECT?
- Objective information and research can inform everyone about the issues in question and help the organization come to agreement about the path forward.
- Good research should help align marketing with the other areas of the business.
- Marketing research can help companies better understand their customers and be able to better address their customer’s needs and wants.
- Marketing research can be costly and unnecessary.
A: Marketing research can be costly and unnecessary.

Q: The use of ________ and well-applied marketing information can make a substantial contribution to an organization’s success.
- target marketing
- marketing segmentation
- high frequency email campaigns
- marketing research
A: marketing research

Q: What is the important first step in any marketing research project?
- research design formulation
- development of an approach to the problem
- identifying the company’s buyer personas
- problem definition
A: problem definition

Q: During the marketing research process, which step focuses on formulating research objectives, questions and frameworks that can influence the research design?
- Data preparation and analysis
- Problem definition
- Developing buyer personas
- Development of an approach to the problem
A: Development of an approach to the problem

Q: In the marketing research process, the ________ plan specifies who will conduct the research activities, including data collection, analysis, interpretation, and reporting on results.
- marketing
- business
- advertising
- research
A: research

Q: What is the last step in any marketing research project?
- Research design formulation
- Development of an approach to the problem
- Setting up measurement criteria
- Taking action
A: Taking action

Q: Sweet Teas tea shop’s sales have been declining. The company has been leaving coupons on the doors of homes around the neighborhood in an effort to increase sales and get more customers in the door. However, lately the owner of Sweet Teas has noticed that very few customers use the coupons. How could Sweet Teas check to see if their target market (the homes in the surrounding neighborhood) are in fact their primary customers?
- Sweet Teas could place coupons on doors in a different neighborhood to see if those neighbors visit Sweet Teas.
- Sweet Teas could update the look of their shop, adding some new light fixtures, paintings and better seating which would appeal to their target customer.
- Sweet Teas could purchase an email list and blast it with e-coupons.
- Sweet Teas could conduct market research to validate their target market.
A: Sweet Teas could conduct market research to validate their target market.

Q: How does market research help marketers validate their target market?
- Market research can help a company understand their business so that they know what their customers will want to purchase.
- Market research can confirm if the company’s target market is happy with the goods and services that are being provided by the company.
- Market research can identify ways for marketers to maximize their upsells to customers.
- Market research can provide insights into the makeup of existing customers and potential customers. A company can use that information to see if the customers they have been targeting are in fact their most promising customers.
A: Market research can provide insights into the makeup of existing customers and potential customers. A company can use that information to see if the customers they have been targeting are in fact their most promising customers.

Q: Businesses use a number of methods to create a good picture of their customer base. This market research can help companies to validate their ________.
- Succession plans
- Contribution margin
- Product innovation plans
- Target market
A: Target market

Q: ________ is the component of the marketing mix that can be compared to Consumer Solution using the 4 C’s.
- Price
- Promotion
- Place
- Product
A: Product

Q: As a marketing professional, you are trying to decide which goods and services to offer. You are thinking about which aspect of the Marketing Mix?
- Promotion
- Place
- Price
- Product
A: Product

Q: The “Product” component of the marketing mix is defined as:
- Understanding what products customers like best
- Distribution and delivery
- A company’s value proposition
- The goods and services offered
A: The goods and services offered

Q: ________ refers to the component of the marketing mix that can be compared to “communication” using the 4 Cs.
- Price
- Product
- Place
- Promotion
A: Promotion

Q: As a marketing professional, you are trying to decide how best to communicate with the customer. You are thinking about which aspect of the Marketing Mix?
- Product
- Place
- Price
- Promotion
A: Promotion

Q: The “Promotion” component of the marketing mix is defined as:
- The goods and services offered
- Distribution and delivery
- The company’s value proposition
- Communication and information
A: Communication and information

Q: ________ refers to the component of the marketing mix that can be compared to “convenience” using the 4 Cs.
- Product
- Promotion
- Price
- Place
A: Place

Q: As a marketing professional, you are trying to decide the best way to distribute and deliver your product or service. You are thinking about which aspect of the Marketing Mix?
- Product
- Promotion
- Price
- Place
A: Place

Q: The “Place” component of the marketing mix is defined as:
- The goods and services offered
- Communication and information
- The company’s location
- Distribution and delivery
A: Distribution and delivery

Q: ________ is the component of the marketing mix that can compared to cost using the 4 Cs.
- Product
- Promotion
- Place
- Price
A: Price

Q: As a marketing professional, you are trying to decide how much the customer would be willing to pay for your product. You are thinking about which aspect of the Marketing Mix?
- Promotion
- Place
- Product
- Price
A: Price

Q: The “price” component of the marketing mix is defined as:
- Knowing when a consumer would be likely to spend more money on an item
- Understanding your target market’s income level
- Identifying the maximum revenue a business can yield from each customer
- Ensuring fair value in the transaction
A: Ensuring fair value in the transaction

Q: Advertising, public relations, personal selling, viral advertising, and any form of communication between the organization and the consumer are examples of:
- Place
- Product
- Price
- Promotion
A: Promotion

Q: Joe went into the store to purchase a pair of shoes. The shoes cost $50. $50 is an example of:
- Promotion
- Place
- Product
- Price
A: Price

Q: The internet, catalogue, kiosk at the mall, the corner store, a mobile app are all examples of:
- Promotion
- Product
- Price
- Place
A: Place

Q: The marketing planning process starts with the ________, then the situation analysis.
- target market
- product design
- buyer personas
- corporate mission
A: corporate mission

Q: Which of the following strategies defines how the marketing mix can best be used to achieve the corporate strategy and objective.
- Product
- Consumer
- Price
- Marketing
A: Marketing

Q: Which of the following statements is FALSE?
- To a great extent, developing the marketing strategy follows the same sequence of activities used to define a corporate strategy.
- The centerpiece of the marketing strategy is the target customer.
- Marketing messages should be in alignment with corporate values.
- The centerpiece of the marketing strategy is product innovation.
A: The centerpiece of the marketing strategy is product innovation.