MFT: MBA- Questions With All Correct Answers
The focal point of all marketing activities is correct answer -customers
The marketing mix is known by what other name? correct answer -the
four Ps
Goods, services, or ideas offered in the exchange with customers are dealt
with under the _____ category of the marketing mix correct answer -
product
Making the product available to the customer in the right quantities and
locations when the customer wants them is the definition for which of these
marketing mix variable? correct answer -place
Many people equate advertising with marketing. While advertising is an
important part of the marketing process, it is actually a tool utilized under
which category of the marketing mix? correct answer -promotion
The study and assessment of forces outside the organization is function of ___
and ____ correct answer -opportunities and threats
The forces that may be evaluated in the analysis of the environment may
include correct answer -political/legal, economic, sociocultural, and
technological
Which of the following is the first step in undertaking a market research
project? correct answer -problem definition
A fancy word for "observation" is ___ correct answer -ethnography
In order for a market to exist, there must be correct answer -a need/desire
for the product, the ability to afford the product, and the willingness to
purchase
The 3 basic segmentation strategies available to marketers are
undifferentiated, concentrated and ___ correct answer -differentiated
, When Henry Ford introduced the Model T, he offered only one model in one
color as a way to provide "transportation for the masses." Alfred P Sloan,
President of General Motors, offered the Chevrolet as an affordable starter car,
the Buick as a car for those who could afford more features and amenities, and
the Cadillac as the ultimate luxury car for those who wanted to show the
world they had "arrived." Henry Ford's market segmentation strategy used
the ___ approach, while Alfred P Sloan's strategy used the ___ approach.
correct answer -undifferentiated; differentiated
The 5 steps of the Consumer Decision correct answer -Making process, in
order are - problem recognition, information search, evaluation of
alternatives, purchase, post-purchase evaluation
The 2 types of purchases are consumer and business. The primary
distinguishing factor between the 2 is correct answer -the purchaser's
intended use of the product
The 4 categories of business markets are correct answer -producer,
reseller, government, institutional
One key advantage of using secondary data instead of primary data is
correct answer -secondary data is usually less expensive
The variables that can be used to segment consumer markets are correct
answer -demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the correct answer -brand
name
The Golden Arches of McDonald's are recognized worldwide. This symbol is
an example of a correct answer -brand mark
The XYZ Automotive Corporation has just introduced a new car that runs on
vegetable oil. Sales are increasing but profits are negative. The company is
investing a great deal in research and development and to generate interest in
the new car. These circumstances indicate the car is in the ___ stage of the
Product Life Cycle. correct answer -introduction
What is Historical Cost? correct answer -The initial value of an asset.
The focal point of all marketing activities is correct answer -customers
The marketing mix is known by what other name? correct answer -the
four Ps
Goods, services, or ideas offered in the exchange with customers are dealt
with under the _____ category of the marketing mix correct answer -
product
Making the product available to the customer in the right quantities and
locations when the customer wants them is the definition for which of these
marketing mix variable? correct answer -place
Many people equate advertising with marketing. While advertising is an
important part of the marketing process, it is actually a tool utilized under
which category of the marketing mix? correct answer -promotion
The study and assessment of forces outside the organization is function of ___
and ____ correct answer -opportunities and threats
The forces that may be evaluated in the analysis of the environment may
include correct answer -political/legal, economic, sociocultural, and
technological
Which of the following is the first step in undertaking a market research
project? correct answer -problem definition
A fancy word for "observation" is ___ correct answer -ethnography
In order for a market to exist, there must be correct answer -a need/desire
for the product, the ability to afford the product, and the willingness to
purchase
The 3 basic segmentation strategies available to marketers are
undifferentiated, concentrated and ___ correct answer -differentiated
, When Henry Ford introduced the Model T, he offered only one model in one
color as a way to provide "transportation for the masses." Alfred P Sloan,
President of General Motors, offered the Chevrolet as an affordable starter car,
the Buick as a car for those who could afford more features and amenities, and
the Cadillac as the ultimate luxury car for those who wanted to show the
world they had "arrived." Henry Ford's market segmentation strategy used
the ___ approach, while Alfred P Sloan's strategy used the ___ approach.
correct answer -undifferentiated; differentiated
The 5 steps of the Consumer Decision correct answer -Making process, in
order are - problem recognition, information search, evaluation of
alternatives, purchase, post-purchase evaluation
The 2 types of purchases are consumer and business. The primary
distinguishing factor between the 2 is correct answer -the purchaser's
intended use of the product
The 4 categories of business markets are correct answer -producer,
reseller, government, institutional
One key advantage of using secondary data instead of primary data is
correct answer -secondary data is usually less expensive
The variables that can be used to segment consumer markets are correct
answer -demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the correct answer -brand
name
The Golden Arches of McDonald's are recognized worldwide. This symbol is
an example of a correct answer -brand mark
The XYZ Automotive Corporation has just introduced a new car that runs on
vegetable oil. Sales are increasing but profits are negative. The company is
investing a great deal in research and development and to generate interest in
the new car. These circumstances indicate the car is in the ___ stage of the
Product Life Cycle. correct answer -introduction
What is Historical Cost? correct answer -The initial value of an asset.
