Principles of Marketing quiz 1

Course	Principles of Marketing
Test	module 1 quiz
Status	Completed
Attempt Score	36 out of 50 points
Time Elapsed	43 minutes
Results Displayed	Submitted Answers, Feedback

• Question 1

2 out of 2 points

	What is the third step in the planning process?
	Selected Answer: 4. Assessing strengths, weaknesses, and opportunities

• Question 2

2 out of 2 points

	When General Electric’s NBC division acquired Universal Studios, the highest executive who approved this acquisition was most likely _____, with the decision being the result of _____ planning.
	Selected Answer: 1. GE’s CEO; strategic

• Question 3

0 out of 2 points

	The buying function of marketing involves advertising, personal selling, and sales promotion in the attempt to match products and services to consumer needs.
	Selected Answer: 2. True

• Question 4

0 out of 2 points

	The advertising director, marketing research manager, and other middle-level managers should be involved in planning fundamental organization-wide strategies and the corporate budget.
	Selected Answer: 1. True

• Question 5

0 out of 2 points

	The rapid development of telecommunications from Internet to cell phones allows marketers to accomplish all of the following except:
	Selected Answer: 2. standardize product lines and marketing promotions to appeal to the largest possible audience.

• Question 6

2 out of 2 points

	The emergence of the marketing concept can best be explained by:
	Selected Answer: 4. a shift from a seller’s market to a buyer’s market.

• Question 7

0 out of 2 points

	The strategic business unit (SBU) concept is best identified as a:
	Selected Answer: 3. way to create units of business activity based solely on sales potential.

• Question 8

2 out of 2 points

	In the relationship era, firms focus on:
	Selected Answer: 2. long term relationships with customers and suppliers.

• Question 9

2 out of 2 points

	Decisions involving transportation, warehousing, inventory control, and order processing relate to _____ strategy.
	Selected Answer: 2. distribution

• Question 10

2 out of 2 points

	To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.
	Selected Answer: 2. True

• Question 11

2 out of 2 points

	Sally Myers, head of marketing at Sally’s Salon, serviced six new customers over the past two weeks. Through a feedback form, Sally learnt that all of them had acted upon the opinions of their friends and family members. What Sally encountered is an example of:
	Selected Answer: 2. a success story in buzz marketing.

• Question 12

2 out of 2 points

	Relationship marketing begins after the sales transaction is completed.
	Selected Answer: 2. False

• Question 13

2 out of 2 points

	Decisions about distribution strategy involve such challenges as:
	Selected Answer: 4. warehouse design and inventory control.

• Question 14

2 out of 2 points

	In a SWOT analysis, a constraint is present when:
	Selected Answer: 2. internal organizational weaknesses prevent taking advantage of an opportunity.

• Question 15

0 out of 2 points

	Which of the following is now the second-largest market in the world?
	Selected Answer: 4. India

• Question 16

2 out of 2 points

	Relationship marketing focuses more attention on _____ customers because new customers are _____ to acquire compared to existing customers.
	Selected Answer: 4. existing; more expensive

• Question 17

2 out of 2 points

	Marketers seek to rid themselves of their cash cows because those products hold low market shares in low-growth markets.
	Selected Answer: 2. False

• Question 18

2 out of 2 points

	Whirlpool combines metal, rubber, and other components in the production of appliances. In doing so the company creates _____ utility.
	Selected Answer: 4. form

• Question 19

0 out of 2 points

	Operational planning should be completed:
	Selected Answer: 2. at the same time the total budget is prepared.

• Question 20

2 out of 2 points

	Strategic Business Units (SBUs) of a diversified firm have common managers, resources, objectives, and competitors.
	Selected Answer: 2. False

• Question 21

2 out of 2 points

	One of the busiest areas of interactive marketing involves online auction sites, such as eBay.
	Selected Answer: 2. True

• Question 22

2 out of 2 points

	Production and marketing of goods and services are two basic functions that create utility.
	Selected Answer: 2. True

• Question 23

0 out of 2 points

	Developing a trust relationship between companies and their customers is the key to survival and success in the sophisticated consumer market.
	Selected Answer: 1. True

• Question 24

2 out of 2 points

	When determining product costs, marketing expenses will amount to approximately one half of the total cost of the product.
	Selected Answer: 1. True

• Question 25

2 out of 2 points

	Some Florida drivers have license plates that say “Save the Manatee.” This is an example of _____ marketing.
	Selected Answer: 4. cause