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Your Results for: "Multiple choice questions:                                              Print this
                                                                                               page
advanced"
 Site Title: Principles of Marketing                         Summary of Results
Book Title: Principles of Marketing,
                                                         10% Correct of 10 Scored items:
            fourth European edition
                                                      1 Correct:   10%
       Book Kotler et al                           9 Incorrect:                 90%
     Author:
                                               More information about scoring
     Location Student Resources > Chapter
      on Site: 1: Marketing now > Multiple
               choice questions: advanced
Date/Time April 5, 2011 at 11:03 AM
Submitted: (UTC/GMT)




1.                      Which of the following statements is not true?

                             Your Answer: Human needs are states of felt deprivation.
                           Correct Answer: Marketing aims to create both needs and wants.




2.                      Promotions are part of the:

                             Your Answer: target market.
                           Correct Answer: marketing mix.




3.                      Checking performance against objectives is part of the _____ stage of
                        the marketing process.

                             Your Answer: analysis
                           Correct Answer: appraisal




4.                      On the product/market expansion grid, where would you recommend
                        first for growth opportunities?

                             Your Answer: Existing products - new markets.
                           Correct Answer: Existing product - existing markets.
5.   If market penetration is no longer and option, which growth strategy
     would you advise a company to consider next?

        Your Answer: Market segmentation.
     Correct Answer: Market development.




6.   Which of the following statements would you agree with?

     Your Answer: All the different business functions should blend to
                  achieve customer satisfaction.




7.   Which of the following is not part of the key role played by marketing
     in strategic planning?

        Your Answer: Helping identify key marketing opportunities.
     Correct Answer: Developing corporate objectives.




8.   When considering strengths and weaknesses, a company will do well
     to take into account:

     1) Critical failure factors.
     2) Relative and not absolute factors.
     3) Those relating to critical factors only.

        Your Answer: 3
     Correct Answer: 2,3




9.   Which of the following statements are incorrect regarding the value of
     matrix approaches:

     1) Matrix approaches have revolutionised strategic planning.
     2) Matrix approaches are relatively cost efficient in their
     implementation.
     3) They focus too much on future planning.
     4) It is relatively straight-forward to define the SBUs and their growth
     potential.
                           Your Answer: 1,2,4
                        Correct Answer: 2,3,4




10.                     The _______________ is an examination of whether the company's
                        basic strategies match its opportunities and strengths.

                           Your Answer: SWOT analysis
                        Correct Answer: strategic control



CLEP Principles Of Marketing Practice Questions
1. What kind of production method will likely be used when labor is inexpensive?

A: function-intensive
B: function-extensive
C: labor-intensive
D: capital-intensive
E: labor-extensive

2. In marketing, what is the term for the usefulness of a product that is a consequence of
its creation from raw material?

A: place utility
B: position utility
C: price utility
D: form utility
E: capital utility

3. Which of the following is not an example of a convenience good?

A: milk
B: bread
C: cigarettes
D: aspirin
E: dishwasher

4. Which phase of the product life cycle is considered to be the most critical?

A: maturity
B: decline
C: introduction
D: ascendancy
E: growth

5. What is another name for the practice of introducing a new product at a high price for a
brief period, in the hopes of recouping production costs?
A: market penetration pricing
B: market-skimming pricing
C: price lining
D: quantity discounts
E: markup

6. Which of the following is a difference between merchant middlemen and agent
middlemen?

A: Agent middlemen acquire ownership of the products they sell, while merchant middlemen do
not.
B: Merchant middlemen sell products directly to the consumer.
C: Agent middlemen have no control over production processes.
D: Merchant middlemen acquire ownership of the products they sell, while agent middlemen do
not.
E: Merchant middlemen only sell their goods to wholesalers.

7. Transportation services that are operated by the shipper are known as _____.

A: private carriers
B: middle carriers
C: common carriers
D: instrumental carriers
E: contract carriers

8. Which of the following is not part of the AIDA process in advertising?

A: argument
B: interest
C: attention
D: action
E: desire

9. What type of utility does a bag of rice acquire for the consumer upon purchase?

A: time
B: place
C: position
D: form
E: ownership

10. Which of the following is the final phase in the product development process?

A: building a prototype
B: test marketing
C: business analysis
D: commercialization
E: product testing




CLEP Principles Of Marketing Answer Key
1. C. A labor-intensive process requires a great deal of labor as compared to capital.
2. D. Form utility can be increased by changing the physical characteristics of the product.
3. E. Convenience goods are purchased often.
4. C. It is in the introduction phase that the opinion of the public is largely established.
5. B. Market-skimming pricing is appropriate when a new product is being introduced to the
market just ahead of competitors.
6. D. Agent middlemen receive a share of the sale price but must pass some along to the owner
as well.
7. A. Private carriers, unlike common carriers, retain the authority to deny services to an
organization.
8. A. In advertising, AIDA (attention, interest, desire, action) is the sequence of behaviors
performed by the customer.
9. E. Ownership utility is the right to do something to a product by virtue of owning it.
10. D. Only after a product has been tested and refined should it be introduced commercially.




Your Results for: "Multiple choice questions:                                             Print this
                                                                                              page
advanced"
  Site Title: Principles of Marketing                        Summary of Results
Book Title: Principles of Marketing,
                                                        20% Correct of 10 Scored items:
            fourth European edition
                                                     2 Correct:    20%
       Book Kotler et al                           8 Incorrect:                 80%
     Author:
                                               More information about scoring
     Location Student Resources > Chapter
      on Site: 2: Strategic marketing >
               Multiple choice questions:
               advanced
Date/Time April 5, 2011 at 11:08 AM
Submitted: (UTC/GMT)




1.                      The marginal method of sales forecasting involves:

                              Your Answer: determining the point at which we cannot afford
                                           to spend any more.
                           Correct Answers: determining the point at which further
                                            expenditure will not be justified by increased
                                            sales.

                                              determining the point at which we will be
                                              spending more than our competitors.




2.                      American Express is creating new products in mobile communications,
                        travel products and health care. What kind of diversification strategy
     are they using?

        Your Answer: Forward integration.
     Correct Answer: Conglomerate diversification.




3.   John Lusty is an intermediary providing a channel to supermarkets
     and caterers for overseas producers. What kind of export strategy are
     they facilitating for the overseas producers?

     Your Answer: Indirect exporting.




4.   Hormel Foods Corporation in the USA allows the Danish company
     Tulip International to produce and market SPAM for the UK market
     under its own name. What kind of market entry strategy is Hormel
     using?

        Your Answer: Contracting.
     Correct Answer: Franchising.




5.   The US company Hilton Hotels only operates and markets the 163-
     bed luxury Hilton London Green Park Hotel. The building is owned and
     maintained by London and Regional Properties. What kind of market
     entry strategy are they using here?

     Your Answer: Contracting.




6.   'A number of rivals from mainland Europe and USA have entered the
     UK market.'

     What part of a marketing plan could this statement have come from?

        Your Answer: Corporate strategy.
     Correct Answer: Marketing audit.




7.   When conducting the marketing audit and portfolio analysis, which of
     the following models are used to gain greater insight into the critical
     issues that could affect the business?
         Your Answer: Boston Consulting Group Model.
      Correct Answer: All of the above.




8.    The Boston Consulting Group Model indicates which of the following?

         Your Answer: Share of market against largest competitor.
      Correct Answer: Market growth and share of market against
                      largest competitor.


      This is only one aspect of the BCG model.




9.    There are various methods of determining marketing promotional
      budgets. Which of the following statements reflect the shortfalls or
      disadvantages in the 'percentage of sales' forecasting method?

         Your Answer: Extremely difficult to calculate, given the
                      changing nature of markets.
      Correct Answer: Is based on the false premise that sales cause
                      promotion, rather than promotion causing sales.


      No, relates to the marginal costing approach.




10.   In the marginal costing approach to promotional budgeting, the
      marketer only spends up to the point where any further spending
      would not generate enough extra business to justify the outlay. Which
      of the following statements reflects the advantages of this method?

         Your Answer: Simple to calculate; also ensures that, if sales
                      drop off, costs also drop.
      Correct Answer: This method would maximise profits since no
                      excess spending would result.


      Percent of sales method

				
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