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Marketing Management
Summative Assessment
Unit 1.00 Test Review
What type of information do businesses include in their
marketing plans?
a. Billing Methodsb. Pricing Strategiesc. Payroll Systemsd. Accounting Procedures
• What type of information do businesses include in their marketing plans?
a. Billing Methodsb. Pricing Strategiesc. Payroll Systemsd. Accounting Procedures
If a business lowers the price of a product for the purpose of taking
business away from competitors, the result of this action often is a(n)
• A. Decrease in cost• B. Increase in profit• C. Gain in market share• D. Reduction in staff
If a business lowers the price of a product for the purpose of taking
business away from competitors, the result of this action often is a(n)
• A. Decrease in cost• B. Increase in profit• C. Gain in market share• D. Reduction in staff
When conducting an external environmental analysis, business
often focus on• A. Previous demand• B. Industry growth• C. Marketing goals• D. Financial costs
When conducting an external environmental analysis, business
often focus on• A. Previous demand• B. Industry growth• C. Marketing goals• D. Financial costs
A manufacturer expects product sales to increase during the coming year. How does this information affect product production?
• A. Production should decrease• B. Production should increase.• C. Production should remain stable.• D. Production should not be affected.
A manufacturer expects product sales to increase during the coming year. How does this information affect product production?
• A. Production should decrease• B. Production should increase.• C. Production should remain stable.• D. Production should not be affected.
When customers have low involvement with a product and there is little difference among
brands, what type of buying behavior are they exhibiting?
• A. Habitual• B. Variety• C. Complex• D. Basic
When customers have low involvement with a product and there is little difference among
brands, what type of buying behavior are they exhibiting?
• A. Habitual• B. Variety• C. Complex• D. Basic
The financial componenet of a marketing plan helps a business to
compare the projected costs of implementing the plan with the
expected • A. Benefits• B. Expenses• C. Losses • D. Strategies
The financial componenet of a marketing plan helps a business to
compare the projected costs of implementing the plan with the
expected • A. Benefits• B. Expenses• C. Losses • D. Strategies
Customers are more likely to spend a lot of time evaluating several options
before buying a product when
• A. The product is perishable.• B. The product is expensive.• C. The need is immediate.• D. Brand insistence is a factor.
Customers are more likely to spend a lot of time evaluating several options
before buying a product when
• A. The product is perishable.• B. The product is expensive.• C. The need is immediate.• D. Brand insistence is a factor.
Morgan Health Supply Company wants to expand its product line this year. It
uses its budget surplus to invest in new products rather than to remodel its offices. This is an example of which
positive action companies should take• A. Provide excellent customer service.• B. Align strategies and activities with goals.• C. Demonstrate corporate responsibility.• C. Utilize touch points to reinforce company image.
Morgan Health Supply Company wants to expand its product line this year. It
uses its budget surplus to invest in new products rather than to remodel its offices. This is an example of which
positive action companies should take• A. Provide excellent customer service.• B. Align strategies and activities with goals.• C. Demonstrate corporate responsibility.• C. Utilize touch points to reinforce company image.
Which of the following is an example of an internal change that could
affect a business’s sales forecast?
• A. A direct competitor is planning a new promotional campaign.
• B. The birth rate increased following the Iraqi war.• C. A new product line is to be offered by the
business.• D. The economy is struggling with a major drop in
stock market prices.
Which of the following is an example of an internal change that could
affect a business’s sales forecast?
• A. A direct competitor is planning a new promotional campaign.
• B. The birth rate increased following the Iraqi war.• C. A new product line is to be offered by the
business.• D. The economy is struggling with a major drop in
stock market prices.
An international soft drink company that wants to add bottled spring water to its product mix
has determined there are four major brand that currently hold the majority of the market share for that product. The strengths and weaknesses
of each potential competition have been examined. This is an example of a(n)
• A. Action plan• B. Marketing strategy• C. Situation analysis• D. Purpose and mission
An international soft drink company that wants to add bottled spring water to its product mix
has determined there are four major brand that currently hold the majority of the market share for that product. The strengths and weaknesses
of each potential competition have been examined. This is an example of a(n)
• A. Action plan• B. Marketing strategy• C. Situation analysis• D. Purpose and mission
Complex buying behavior is most likely involved when the customer
is purchasing • A. A car• B. A meal• C. Socks• D. Gasoline
Complex buying behavior is most likely involved when the customer
is purchasing • A. A car• B. A meal• C. Socks• D. Gasoline
Technological advances can help companies provide more customer service with fewer employees, but
why must the companies be careful?
• A. Technology cannot provide 24-7 service.• B. Computers and telephones break down regularly.• C. Current employees may go on strike.• D. Customers may feel they are losing their human
touch.
Technological advances can help companies provide more customer service with fewer employees, but
why must the companies be careful?
• A. Technology cannot provide 24-7 service.• B. Computers and telephones break down regularly.• C. Current employees may go on strike.• D. Customers may feel they are losing their human
touch.
One of the main reason for developing a marketing plan is to
identify the strategies necessary to achieve the marketing
• A. Functions• B. Objectives• C. Mix• D. Share
One of the main reason for developing a marketing plan is to
identify the strategies necessary to achieve the marketing
• A. Functions• B. Objectives• C. Mix• D. Share
If you were trying to convince someone to use quantitative sales forecasting, which of the following
factors would you stress?• A. Variety of opinions• B. Factual basis• C. Minimal cost• D. Ease with which findings are understood
If you were trying to convince someone to use quantitative sales forecasting, which of the following
factors would you stress?• A. Variety of opinions• B. Factual basis• C. Minimal cost• D. Ease with which findings are understood