BMKT 325 MID-TERM STUDY
QUESTIONS AND ANSWERS
Marketing managers strive to develop a marketing mix that does what?
a. minimizes marketing costs
b. matches the needs of the target market
c. best matches the abilities of the firm
d. generates the highest level sales - ANSWER-b. matches the needs of the target market
The forces of the marketing environment include what?
a. political, legal and regulatory, sociocultural, technology, economic and competitive
b. sociocultural, legal, regulatory, economic, and competitive
c. legal, regulatory, political, and sociocultural
d. competitive and noncompetitive forces that affect most lifestyles - ANSWER-a. political, legal
and regulatory, sociocultural, technology, economic and competitive
Distribution, price, promotion, and product are all elements of what?
a. marketing strategy
b. a consumer good
c. a business strategy
d. the marketing mix - ANSWER-d. the marketing mix
Marketing facilities exchange relationships between buyers and sellers. What is marketing's
intended outcome for this relationship?
,a. reducing the seller's inventory
b. satisfaction for both the buyer and seller
c. one party having to compromise in the exchange
d. profits for the seller - ANSWER-b. satisfaction for both the buyer and seller
Organizations should define themselves not according to the products they produce but
according to what?
a. how they treat employees
b. the price of their stock
c. how they satisfy customers
d. how profitable they are - ANSWER-c. how they satisfy customers
A change in the minimum drinking age in any given state illustrates a change in the _____ for
Miller Brewing
a. product concept
b. marketing task
c. marketing concept
d. marketing environment - ANSWER-d. marketing environment
What is the focal point of all marketing activities?
a. sales
b. the marketing mix
c. customers
d. products - ANSWER-c. customers
Making modifications to packaging or brand names involves the _____ component of the
marketing mix
, a. market
b. product
c. distribution
d. promotion - ANSWER-b. product
The marketing mix is built around the _____.
a. product
b. customer
c. company
d. retail outlet - ANSWER-b. customer
The definition of marketing implies that _____ should receive benefits from exchange
relationships
a. only customers
b. only the most important customers
c. both customers and businesses
d. company management - ANSWER-c. both customers and businesses
An analysis of _____ examines internal factors that give the organization certain advantages and
disadvantages in meeting the needs of its target markets
a. market opportunities
b. strengths and weaknesses
c. opportunities and threats
d. organizational resources - ANSWER-b. strengths and weaknesses
Favorable conditions in the marketplace environment that could produce business rewards for
the organization if acted upon properly are called what?
QUESTIONS AND ANSWERS
Marketing managers strive to develop a marketing mix that does what?
a. minimizes marketing costs
b. matches the needs of the target market
c. best matches the abilities of the firm
d. generates the highest level sales - ANSWER-b. matches the needs of the target market
The forces of the marketing environment include what?
a. political, legal and regulatory, sociocultural, technology, economic and competitive
b. sociocultural, legal, regulatory, economic, and competitive
c. legal, regulatory, political, and sociocultural
d. competitive and noncompetitive forces that affect most lifestyles - ANSWER-a. political, legal
and regulatory, sociocultural, technology, economic and competitive
Distribution, price, promotion, and product are all elements of what?
a. marketing strategy
b. a consumer good
c. a business strategy
d. the marketing mix - ANSWER-d. the marketing mix
Marketing facilities exchange relationships between buyers and sellers. What is marketing's
intended outcome for this relationship?
,a. reducing the seller's inventory
b. satisfaction for both the buyer and seller
c. one party having to compromise in the exchange
d. profits for the seller - ANSWER-b. satisfaction for both the buyer and seller
Organizations should define themselves not according to the products they produce but
according to what?
a. how they treat employees
b. the price of their stock
c. how they satisfy customers
d. how profitable they are - ANSWER-c. how they satisfy customers
A change in the minimum drinking age in any given state illustrates a change in the _____ for
Miller Brewing
a. product concept
b. marketing task
c. marketing concept
d. marketing environment - ANSWER-d. marketing environment
What is the focal point of all marketing activities?
a. sales
b. the marketing mix
c. customers
d. products - ANSWER-c. customers
Making modifications to packaging or brand names involves the _____ component of the
marketing mix
, a. market
b. product
c. distribution
d. promotion - ANSWER-b. product
The marketing mix is built around the _____.
a. product
b. customer
c. company
d. retail outlet - ANSWER-b. customer
The definition of marketing implies that _____ should receive benefits from exchange
relationships
a. only customers
b. only the most important customers
c. both customers and businesses
d. company management - ANSWER-c. both customers and businesses
An analysis of _____ examines internal factors that give the organization certain advantages and
disadvantages in meeting the needs of its target markets
a. market opportunities
b. strengths and weaknesses
c. opportunities and threats
d. organizational resources - ANSWER-b. strengths and weaknesses
Favorable conditions in the marketplace environment that could produce business rewards for
the organization if acted upon properly are called what?
