Marketing Exam 1 Practice Questions with Answers and Study
Guide
Marketing creates, communicates, and delivers value to the firm's chosen customers. This
enables firms to attract and keep customers. Attracting and keeping customers drive BLANK for
the firm? - correct answer ✔✔ profitability
The path to profitability start with? - correct answer ✔✔ Understanding customers within the
context of the marketing environment
For every pair of Toms shoes purchased, the company donates a pair of shoes to a child in need.
Which marketing philosophy does Toms use? - correct answer ✔✔ Societal
Marketing strategy addresses a specific target market with a cohesive marketing mix of? -
correct answer ✔✔ Price, product, place, promotion
"How do I come up with a killer product idea?" - correct answer ✔✔ Ask, " What problems are
people trying to solve."
Nike, a $30 billion athletic footwear and apparel brand, uses competencies and abilities in
product performance and brand image to meet the needs of its target markets. This is an
example of which part of the SWOT analysis? - correct answer ✔✔ Strength
Malibu Boats, specialize in the production of recreational water sports boats, primarily for wake
boarding and wake surfing. What type of income is used to purchase expensive boats and
accessories offered by Malibu Boats? - correct answer ✔✔ Discretionary
Sofia is marketing manager for a new line of Italian food. The company wants to launch this new
line in the UK -- England, Scotland, Wales, and Northern Ireland. Sofia knows that social forces
affect consumer's attitudes, beliefs, lifestyle, and ultimately consumption behavior. Which social
, force has the most influence on Sofia's new product line -- affecting what people eat? - correct
answer ✔✔ Culture
Magnus, a research analyst for LEGO, has been gathering information about age, gender, and
income for Southeast Asia, particularly Indonesia, Thailand, Singapore, Malaysia, and
Philippines. Magnus is gathering BLANK data? - correct answer ✔✔ Demographic
For the United States, people born during the same time period an who share similar life
experiences represents? - correct answer ✔✔ Generational Cohorts
Campbell Soup company, a US based business entered the Asia market by combining efforts
with Swire Pacific. Each company owns share in the new business called Campbell Swire. This is
an example of which global market strategy? - correct answer ✔✔ Joint Venture
When Unilever entered India with package goods the company changed the packaging and
pricing for many products to adapt to Indian consumers. This is an example of? - correct answer
✔✔ Customization
When the Clorox company purchased the right to manufacture and sell products under the Brita
name in the United States, Clorox entered into a BLANK agreement with Brita GmbH - correct
answer ✔✔ Licensing
The global market strategy based on a standard platform combined with some modifications for
the market is called? - correct answer ✔✔ Glocal
The overall attractiveness of a foreign market depends on the risks and rewards of conducting
business in the country of interest. Inadequate protection of intellectual property in a number
of developing countries has caused some US companies to avoid certain foreign markets
because of the BLANK risk - correct answer ✔✔ Legal
Guide
Marketing creates, communicates, and delivers value to the firm's chosen customers. This
enables firms to attract and keep customers. Attracting and keeping customers drive BLANK for
the firm? - correct answer ✔✔ profitability
The path to profitability start with? - correct answer ✔✔ Understanding customers within the
context of the marketing environment
For every pair of Toms shoes purchased, the company donates a pair of shoes to a child in need.
Which marketing philosophy does Toms use? - correct answer ✔✔ Societal
Marketing strategy addresses a specific target market with a cohesive marketing mix of? -
correct answer ✔✔ Price, product, place, promotion
"How do I come up with a killer product idea?" - correct answer ✔✔ Ask, " What problems are
people trying to solve."
Nike, a $30 billion athletic footwear and apparel brand, uses competencies and abilities in
product performance and brand image to meet the needs of its target markets. This is an
example of which part of the SWOT analysis? - correct answer ✔✔ Strength
Malibu Boats, specialize in the production of recreational water sports boats, primarily for wake
boarding and wake surfing. What type of income is used to purchase expensive boats and
accessories offered by Malibu Boats? - correct answer ✔✔ Discretionary
Sofia is marketing manager for a new line of Italian food. The company wants to launch this new
line in the UK -- England, Scotland, Wales, and Northern Ireland. Sofia knows that social forces
affect consumer's attitudes, beliefs, lifestyle, and ultimately consumption behavior. Which social
, force has the most influence on Sofia's new product line -- affecting what people eat? - correct
answer ✔✔ Culture
Magnus, a research analyst for LEGO, has been gathering information about age, gender, and
income for Southeast Asia, particularly Indonesia, Thailand, Singapore, Malaysia, and
Philippines. Magnus is gathering BLANK data? - correct answer ✔✔ Demographic
For the United States, people born during the same time period an who share similar life
experiences represents? - correct answer ✔✔ Generational Cohorts
Campbell Soup company, a US based business entered the Asia market by combining efforts
with Swire Pacific. Each company owns share in the new business called Campbell Swire. This is
an example of which global market strategy? - correct answer ✔✔ Joint Venture
When Unilever entered India with package goods the company changed the packaging and
pricing for many products to adapt to Indian consumers. This is an example of? - correct answer
✔✔ Customization
When the Clorox company purchased the right to manufacture and sell products under the Brita
name in the United States, Clorox entered into a BLANK agreement with Brita GmbH - correct
answer ✔✔ Licensing
The global market strategy based on a standard platform combined with some modifications for
the market is called? - correct answer ✔✔ Glocal
The overall attractiveness of a foreign market depends on the risks and rewards of conducting
business in the country of interest. Inadequate protection of intellectual property in a number
of developing countries has caused some US companies to avoid certain foreign markets
because of the BLANK risk - correct answer ✔✔ Legal
