Marketing Quiz

When referring to “exchange,” marketers are focusing on:

• Location where products and services are traded.

• Price charged adjusted for currency exchange rates.

• The trading of things of value

• Creating value.

Being socially responsible is generally considered ____________________.

• Beyond the norms of corporate ethical behavior.

• A good thing to do only when a company is profitable.

• Inappropriate for most firms in today's market.

• Corporate foundations who can effectively concentrate a firm's philanthropy.

Marketers to _______________ income groups attempt to create value by offering one-of-a-kind products and exclusive services.

• Middle

• Upper

• Lower-middle

• Lower

Based on the BCG portfolio analysis, products in low-growth markets that have received heavy investments and now have excess resources to spin off are:

• Stars

• Cash cows

• Question marks

• None of the above

Of the five steps to the strategic marketing planning process, which step usually comes in the MIDDLE of the process?

• Situation analysis

• Define the business mission.

• Evaluate performance

• Identifying and evaluating opportunities.

To become value driven, firms:

• Balance relationships with customers beyond thinking about individual transactions

• Share information across the entire organization about customers and competitors

• Balance benefits with costs to create value for customers

• All of the abobe

Firms use _______________ to collect, and synthesize information about their position with respect to their rivals.

• Regional regression analysis.

• Demographic data.

• Competitive intelligence

• Macroeconomic variable analysis

The center of all marketing efforts is:

• Profits

• Corporate social responsibility

• The consumer

• Scenario planning

The marketing goal of getting the "right quantities to the right locations, at the right time" is:

• Capturing value.

• Creating value.

• Communicating the value proposition.

• Supply chain management

Though Asian Americans comprise only 3 percent of the U.S. population, they represent:

• The fastest growing minority population

• The easiest minority group to access.

• A large proportion of the minority in the Southeast.

• A uniform group of consumers with a common language and cultural background.