MAR2023 TEST 1 REVIEW EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
a, b
If a car manufacturer wanted to segment its marketplace it would ______. (Select all
that apply.)
a. divide consumers into groups based on their incomes.
b. identify customer needs for different types of cars (such as sports cars, SUVs, and
family sedans.
c. offer the same car model to all consumers in the marketplace.
marketing
the activity, set of institutions, and processes for creating, capturing, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners,
and society at large
exchange
A core aspect of marketing, borrowed from economics, includes an _______, which is a
transaction in which things of value are traded by buyers and sellers.
b, d
Which of the following are elements of the marketing mix? (Select all that apply.)
a. purchase
b. product
,c. plasticity
d. price
product, price, place, promotion
List the 4 P's of the marketing mix
B2C
The process by which businesses sell to consumers is known as ______ marketing.
b, c, d
Which of the following are associated with marketing, as defined by the American
Marketing Association? (Check all that apply.)
a. institutions that implement technologies for increased production efficiency
b. activities that communicate offerings that have value for society at large
c. institutions that facilitate the exchange of offerings that have value for customers
d. processes used to create value for clients
e. organizations that develop industry partnerships for international outsourcing
a, c, e
What are supply chain partners? (Select all that apply)
a. transporters
b. federal regulators
c. retailers
d. competitors
e. wholesalers
segmentation
, When a toothpaste manufacturer divides the marketplace into smaller targets based on
consumers' ages and habits, this is an example of market ______.
c
Which company would likely NOT lose too much money if marketing was discontinued?
a. NBC
b. Hulu
c. Facebook
d. Buzzfeed
d
Which of the following characterizes the relationship between marketing and exchange?
a. A seller determines the best way to maximize his profit while minimizing buyer value.
b. A buyer and seller work together to neither increase nor decrease net satisfaction.
c. A buyer maneuvers a seller into providing maximum value for the lowest price.
d. A buyer and seller trade things of value, leaving each better off than before.
a, c
Which of the following are related to marketing in the production-oriented era? (Check
all that apply.)
a. Retailers were considered places to hold inventory until it was sold.
b. There was an excess supply of product, and the consumer was the king.
c. Manufacturers were concerned with product innovation, not with satisfying the needs
of the individual.
d. Personal selling was used to market products.
creating value
WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
a, b
If a car manufacturer wanted to segment its marketplace it would ______. (Select all
that apply.)
a. divide consumers into groups based on their incomes.
b. identify customer needs for different types of cars (such as sports cars, SUVs, and
family sedans.
c. offer the same car model to all consumers in the marketplace.
marketing
the activity, set of institutions, and processes for creating, capturing, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners,
and society at large
exchange
A core aspect of marketing, borrowed from economics, includes an _______, which is a
transaction in which things of value are traded by buyers and sellers.
b, d
Which of the following are elements of the marketing mix? (Select all that apply.)
a. purchase
b. product
,c. plasticity
d. price
product, price, place, promotion
List the 4 P's of the marketing mix
B2C
The process by which businesses sell to consumers is known as ______ marketing.
b, c, d
Which of the following are associated with marketing, as defined by the American
Marketing Association? (Check all that apply.)
a. institutions that implement technologies for increased production efficiency
b. activities that communicate offerings that have value for society at large
c. institutions that facilitate the exchange of offerings that have value for customers
d. processes used to create value for clients
e. organizations that develop industry partnerships for international outsourcing
a, c, e
What are supply chain partners? (Select all that apply)
a. transporters
b. federal regulators
c. retailers
d. competitors
e. wholesalers
segmentation
, When a toothpaste manufacturer divides the marketplace into smaller targets based on
consumers' ages and habits, this is an example of market ______.
c
Which company would likely NOT lose too much money if marketing was discontinued?
a. NBC
b. Hulu
c. Facebook
d. Buzzfeed
d
Which of the following characterizes the relationship between marketing and exchange?
a. A seller determines the best way to maximize his profit while minimizing buyer value.
b. A buyer and seller work together to neither increase nor decrease net satisfaction.
c. A buyer maneuvers a seller into providing maximum value for the lowest price.
d. A buyer and seller trade things of value, leaving each better off than before.
a, c
Which of the following are related to marketing in the production-oriented era? (Check
all that apply.)
a. Retailers were considered places to hold inventory until it was sold.
b. There was an excess supply of product, and the consumer was the king.
c. Manufacturers were concerned with product innovation, not with satisfying the needs
of the individual.
d. Personal selling was used to market products.
creating value
