MBA MFT Exam Actual Exam | All Questions and
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The focal point of all marketing activities is - (ANSWER)customers
The marketing mix is known by what other name? - (ANSWER)the four Ps
Goods, services, or ideas offered in the exchange with customers are dealt with
under the _____ category of the marketing mix - (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? - (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? - (ANSWER)promotion
The study and assessment of forces outside the organization is function of ___
and ____ - (ANSWER)opportunities and threats
The forces that may be evaluated in the analysis of the environment may include -
(ANSWER)political/legal, economic, sociocultural, and technological
,Which of the following is the first step in undertaking a market research project? -
(ANSWER)problem definition
A fancy word for "observation" is ___ - (ANSWER)ethnography
In order for a market to exist, there must be - (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 ___ - (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. -
(ANSWER)undifferentiated; differentiated
The 5 steps of the Consumer Decision - (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 - (ANSWER)the purchaser's intended use of the product
, The 4 categories of business markets are - (ANSWER)producer, reseller,
government, institutional
One key advantage of using secondary data instead of primary data is -
(ANSWER)secondary data is usually less expensive
The variables that can be used to segment consumer markets are -
(ANSWER)demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the - (ANSWER)brand name
The Golden Arches of McDonald's are recognized worldwide. This symbol is an
example of a - (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. - (ANSWER)introduction
What is Historical Cost? - (ANSWER)The initial value of an asset.
Correct Answers | Graded A+ | Verified Answers | Just
Released
The focal point of all marketing activities is - (ANSWER)customers
The marketing mix is known by what other name? - (ANSWER)the four Ps
Goods, services, or ideas offered in the exchange with customers are dealt with
under the _____ category of the marketing mix - (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? - (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? - (ANSWER)promotion
The study and assessment of forces outside the organization is function of ___
and ____ - (ANSWER)opportunities and threats
The forces that may be evaluated in the analysis of the environment may include -
(ANSWER)political/legal, economic, sociocultural, and technological
,Which of the following is the first step in undertaking a market research project? -
(ANSWER)problem definition
A fancy word for "observation" is ___ - (ANSWER)ethnography
In order for a market to exist, there must be - (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 ___ - (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. -
(ANSWER)undifferentiated; differentiated
The 5 steps of the Consumer Decision - (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 - (ANSWER)the purchaser's intended use of the product
, The 4 categories of business markets are - (ANSWER)producer, reseller,
government, institutional
One key advantage of using secondary data instead of primary data is -
(ANSWER)secondary data is usually less expensive
The variables that can be used to segment consumer markets are -
(ANSWER)demographic, psychographic, geographic, and behavioristic
That part of the brand which can be spoken is the - (ANSWER)brand name
The Golden Arches of McDonald's are recognized worldwide. This symbol is an
example of a - (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. - (ANSWER)introduction
What is Historical Cost? - (ANSWER)The initial value of an asset.
