MTE Marketing 20/21 Quiz 1
MTE Marketing Quiz 2021
Test your knowledge on modern marketing principles with our engaging and comprehensive quiz! This quiz is designed for students and professionals alike, helping you solidify your understanding of key marketing concepts.
Try to answer all 100 questions accurately and see how well you really know marketing!
- 100 multiple-choice questions
- Immediate feedback on your answers
- Perfect for students and marketing enthusiasts
Which of the following is NOT an accurate description of modern marketing?
Marketing is the creation of value for customers.
Marketing involves managing profitable customer relationships.
Marketing emphasizes selling and advertising exclusively.
Marketing involves satisfying customers' needs.
According to management guru Peter Drucker, "The aim of marketing is to ________."
Maximize profits of the company
Emphasize customer wants and not customer needs
Make selling unnecessary
Fulfill unrealistic customer expectations
Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.
Research and development
Innovation and creativity
Manufacturing efficiencies
Value creation and exchange
According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?
Designing a customer-driven marketing strategy
Understanding the marketplace and customer needs
Constructing an integrated marketing program that delivers superior value
Building profitable relationships and creating customer delight
According to the five-step model of the marketing process, a company should ________ before designing a customer-driven marketing strategy.
Determine how to deliver superior value to customers
Build profitable relationships with customers
Use customer relationship management to create full partnerships with key customers
Understand the marketplace and customer needs and wants
________ are human needs that are shaped by culture and individual personality.
Necessities
Wants
Demands
Values
When backed by buying power, wants become ________.
Social needs
Demands
Physical needs
Self-esteem needs
Dr Omar Abd El-Aziz Williams now has the buying power to purchase the desktop computer that he has wanted for the last six months. Dr. Omar's want now has become a(n) ________.
Need
Necessity
Demand
Exchange
A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.
Market offering
Value proposition
Brand positioning
Market segment
Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
Vendor lock-in
Social loafing
Value proposition
Marketing myopia
________ is the act of obtaining a desired object from someone by offering something in return.
Valuation
Exchange
Market offering
Confiscation
A(n) ________ is the set of actual and potential buyers of a product or service.
Market
Control group
Subsidiary
Focus group
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.
Positioning
Marketing
Outsourcing
Production
Seagull Terrace offers its customers good accommodations, local delicacies, and amazing seaside views. The overall experience provided at the motel is a part of its ________.
Market offering
Target market
Market segment
Product positioning
The art and science of choosing target markets and building profitable relationships with them is called ________.
Marketing management
Positioning
Marketing mix
Market offering
Selecting which segments of a population to serve is called ________.
Market segmentation
Positioning
Customization
Target marketing
An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.
Marketing mixes
Market segments
Value propositions
Market offerings
Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
Customer lock-in
A cartel
Marketing mix
Value proposition
Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
Production concept
Product concept
Selling concept
Marketing concept
The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.
Product
Production
Societal marketing
Marketing
Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships?
The marketing concept
The production concept
The product concept
The selling concept
Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
The product concept
The production concept
The selling concept
The marketing concept
Which of the following uses a customer-centered "sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy?
Market segmentation
The production concept
The marketing concept
The inside-out perspective
A firm that uses the selling concept takes a(n) ________ approach.
Outside-in
Niche marketing
Inside-out
Societal marketing
The marketing concept takes a(n) ________. It starts with a well-defined market, focuses on customer needs, and integrates all the marketing activities that affect customers.
Outside-in perspective
Product-centered make-and-sell philosophy
Inside-out perspective
Consumer-generated marketing approach
Which of the following is a characteristic of customer-driven marketing?
Companies understand customer needs even better than customers themselves do.
Customers are unaware of their needs.
Products are created that meet both existing and latent needs, now and in the future.
Customers know what they want.
________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.
Customer-driven
Customer-driving
Affinity
Societal
When customers don't know what they want or don't even know what's possible, the most effective marketing strategy is ________ marketing.
Customer-driven
Customer-driving
Societal
Ambush
The societal marketing concept seeks to establish a balance between ________.
Customer lifetime value and customer equity
An inside-out perspective and an outside-in perspective
Consumer short-run wants and consumer long-run welfare
Marketing mixes and market offerings
________ refers to socially and environmentally responsible marketing that meets the needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
Ambush marketing
Evangelism marketing
Sustainable marketing
Database marketing
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.
Marketing concept
Product concept
Production concept
Societal marketing concept
The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
Promotion mix
Product mix
Marketing mix
Market offering
Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?
All customers will be delighted.
Customer-perceived value will increase.
All customers will directly turn into customer evangelists.
Not all customers will be satisfied.
Which of the following statements reflects the marketing concept?
Focus on making continuous product improvements.
Undertake a large-scale selling and promotion effort.
Emphasize an inside-out perspective.
Consider customer focus and value as the paths to sales and profits.
FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are acting upon ________.
Brand loyalty
Customer equity
Customer-perceived value
Customer lifetime value
Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.
Customer lifetime value
Customer-perceived value
Customer relationship management
Partner relationship management
Which of the following marketing strategies should marketing managers focus on to manage detailed information about individual customers and carefully manage customer touchpoints to maximize customer loyalty?
Customer divestment
Customer-managed relationships
The societal marketing concept
Customer relationship management
________ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.
Customer-perceived value
Customer lifetime value
Share of customer
Customer-managed relationship
It is most accurate to say that when customers purchase products they act on ________ as they judge values and costs.
Objective value
Perceived value
Customer lifetime value
Company image
The primary key to delivering customer satisfaction is to match product performance with ________.
The performance of competitive products
Competitive prices
Aggressive advertising
Customer expectations
Gana Abd El-Aziz recently purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations about Brand X lotion, Gana was measuring her level of ________.
Share of customer
Customer satisfaction
Customer equity
Customer-perceived value
Which of the following strategies would a company most likely use to increase customer satisfaction?
Decreasing the variety of offered services
Divesting
Lowering prices
"firing" unprofitable customers
Noran Abd El-Aziz is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for her?
Full partnerships
Basic relationships
Causal relationships
Club marketing programs
A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of ________.
A frequency marketing program
A basic relationship
A club marketing program
Partner relationship management
A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is an example of ________.
A frequency marketing program
A basic customer relationship
A club marketing program
The selling concept
The marketing world is most likely embracing ________ because consumers wield greater power now with many platforms for airing and sharing their brand views with other consumers.
Partner relationship management
Supply chain management
Customer-managed relationships
Market segmentation
Through ________, companies today are strengthening their connections with all partners, from providers of raw materials and components to those involved in the delivery of final goods and services.
Supply chain management
Direct marketing
Customer relationship marketing
Customized marketing
The final step in the marketing process is ________.
Capturing value from customers
Creating customer delight
Creating customer lifetime value
Understanding the marketplace
"Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period of patronage." This statement specifically indicates loss in terms of ________.
Customer-perceived value
Marketing offerings
Partner relationship management
Customer lifetime value
The portion of the customer's purchasing that a company gets in its product categories is known as ________.
Customer-perceived value
Share of customer
Customer insight
Consumption function
________ is one of the best ways to increase share of customer.
Targeting new customers
Using bait and switch
Cross-selling
Divesting
Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith trying to increase?
Shared value
Share of customer
Social responsibility
Customer-generated marketing
Which of the following refers to the total combined customer lifetime value of all of the company's current and potential customers?
Share of customer
Marketing mix
Customer equity
Target market
In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a ________.
True friend
Butterfly
Stranger
Barnacle
Gana Abd El-Aziz's plan also involves a seasonal promotional gimmick that she wants to promote aggressively. This is an example of the ________ concept.
Selling
Marketing
Product
Production
Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the ________ concept.
Selling
Marketing
Product
Production
Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their requirements in terms of amenities and cuisines. By implementing the suggestions she receives from guests, Carol would be following the ________ concept.
Production
Product
Selling
Marketing
Following the change in consumer values and consumption patterns after the Great Recession, marketers have changed their marketing strategies to emphasize the ________ of their products.
Image
Value
Durability
Safety
Government agencies design ________ to encourage energy conservation and discourage smoking, excessive drinking, and drug use.
Club marketing programs
Social marketing campaigns
Consumer-generated marketing campaigns
Ambush marketing campaigns
A church targeting different demographic groups to increase attendance is an example of ________.
Affinity marketing
Not-for-profit marketing
Societal marketing
Evangelism marketing
Which of the following is true with regard to products?
The quality of products is far more difficult to measure than that of services.
Products do not include experiences, organizations, persons, places, and ideas.
Products are not meant for sale in the market.
Products include services, events, persons, places, organizations, ideas, or a mixture of these.
________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
Liabilities
Services
Brands
Consumer products
Which of the following exemplifies a service?
Candy
Laptop
Retail
Car
Marketing mix planning begins with ________.
Building an offering that brings value to target customers
Finding a suitable promotion strategy for the product
Setting a reasonable price for the product
Selecting the right channel for distribution of the product
Which of the following is true with regard to services?
Services refer to purely tangible products.
Services are a form of product that consists of activities, benefits, or satisfactions offered for sale.
Services can be stored for later use.
Services can be easily separated from their providers.
Which of the following is an example of a pure tangible good?
A laptop with a comprehensive warranty for three years
An online shoe retailer that provides free home delivery
An agency that offers free legal advice
A bag of potato chips
Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"
An actual product
An augmented product
Core customer value
Answer: c
Product planners need to consider products and services on three levels. At the second level, product planners must ________.
Offer additional product support and after-sale services
Identify the core customer value that consumers seek from the product
Turn the core benefit into an actual product
Find out how they can create the most satisfying brand experience
Product planners need to consider products and services on three levels. At the third level, product planners must build ________.
An actual product
An augmented product
Core customer value
A brand personality
________ are industrial products.
Major appliances
Laundry detergents
Life insurance policies
Office supplies
Consumer products refer to ________.
Products purchased by consumers for further processing or for use in conducting a business
Products and services bought by final consumers for personal consumption
Primarily intangible offerings from marketers
Raw materials as well as manufactured materials and parts
________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
Unsought products
Capital items
Shopping products
Convenience products
Which of the following is an example of a convenience product?
Fast food
Diamond ring
Furniture
Life insurance
________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.
Shopping products
Convenience products
Unsought products
Capital items
Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a(n) ________ product.
Convenience
Unsought
Specialty
Shopping
________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
Shopping products
Unsought products
Specialty products
Capital items
A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania from locally grown wood, is an example of a ________.
Convenience product
Capital item
Specialty product
Service
________ products are those products purchased for further processing or for use in conducting a business.
Unsought
Specialty
Shopping
Industrial
________ are the major marketing factors in the sale of most manufactured materials and parts.
Branding and advertising
Price and service
Sales promotion and advertising
Branding and packaging
________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.
Unsought products
Convenience products
Capital items
Specialty items
Installations consist of ________.
Highly priced luxury goods such as rolex watches
Portable office equipment such as computers
Major purchases such as elevators
Portable factory equipment such as hand tools
Lubricants, coal, paper, and pencils are examples of ________.
Operating supplies
Capital items
Raw materials
Specialty products
________ marketing consists of activities undertaken to create, maintain, or change the attitudes and behaviors of target consumers toward an organization.
Social network
Organization
Niche
Location
The advertising slogan, "We bring good things to life," used by General Electric to market itself, is an example of ________ marketing.
Person
Corporate image
Internal
Place
________ marketing consists of activities undertaken to create, maintain, or change attitudes toward particular people. People ranging from presidents, entertainers, and sports figures to professionals such as doctors, lawyers, and architects use it to build their reputations.
Corporate image
Person
Social
Organization
A company that uses well-known celebrities to help sell its products is using ________ marketing.
Interactive
Internal
Social
Person
________ marketing involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, or regions.
Idea
Place
Organization
Social
Tourism Australia's global marketing campaign, "There's nothing like Australia" is an example of ________ marketing.
Corporate image
Person
Organization
Place
Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights and personal safety can be classified under ________ marketing.
Corporate image
Internal
Social
Place
Elmo Inc., a Michigan-based manufacturer of athletic shoes, uses professional athletes in its ad campaigns to help sell its products. This is an example of ________ marketing.
Person
Place
Social
Organization
Public health campaigns designed to reduce alcoholism, drug abuse, smoking, and obesity are all examples of ________ marketing.
Internal
Social
Organization
Person
Rhodia invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies ________.
Corporate image marketing
Social marketing
Place marketing
Social engineering
An easier, more comfortable, more stylish transfer of thought onto paper refers to the ________ of Ruben's offerings.
Tangible element
Core customer value
Actual product
Augmented product
Which type of product does Delgado manufacture?
Industrial
Convenience
Specialty
Shopping
Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________.
Product labels
Product attributes
Support services
Product packaging
________ refers to the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
Brand equity
Product quality
Product labeling
Brand image
________ is an approach in which all the company's people are involved in constantly improving the quality of products, services, and business processes.
Business intelligence
Quality function deployment
Total quality management
Brand equity management
What are the two dimensions of product quality?
Consistency and level
Performance and conformance
Design and innovation
Conformance and style
Style simply describes the ________ of a product.
Quality
Appearance
Utility
Durability
A ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service.
Feature
Brand
Line extension
Package
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