MKTG 320 Final Exam Questions and Answers Latest Update 2025
The ____________ says that retailers should offer low prices to get faster turnover and greater
sales volumes by appealing to larger markets - Answers Mass-merchandising concept
In the market introduction stage of a fast product life cycle, _____ helps develop loyal customers
early and keeps competitors out - Answers a low initial penetration price
______ means that a firm has a marketing mix that the target market sees as better than a
competitor's mix. - Answers Competitive advantage
MASS SELLING, in contrast to personal selling: - Answers All of the above
Personal selling is extremely important for sellers of - Answers New unsought products
______________ is concerned with whether the research data measures what it is intended to. -
Answers Validity
Which of the following shows the correct sequence of market acceptance of a new idea, as
represented in the adoption curve? - Answers Innovators, early adopters, early majority, late
majority, laggards.
When Colgate encourages its current customers to brush more often by taking their toothbrush
and toothpaste to work with them, which market opportunity is Colgate pursuing? - Answers
Market penetration
When dealing with consumer attitudes, marketers should know that: - Answers consumer
attitudes tend to be enduring
Customer equity - Answers is the expected earnings stream of a firm's current and prospective
customers over some time period.
"Good" market segments are those which are - Answers All of the above
Regarding gross domestic product (GDP) and gross national income (GNI): - Answers A and B
are true, but not C
American economic and legislative thinking is based on the idea that - Answers competition
among many small firms helps the economy
Poor communication is likely if: - Answers the source and the receiver do not have a common
frame of reference
Market segmentation: - Answers tries to identify homogeneous submarkets within a product-
market
A marketing manager has just learned about generic markets. This may lead the manager -
, Answers All of the above.
The text considers five "eras" of marketing evolution. Which of the following shows the logical
order in which these eras occur? - Answers Simple trade, production, sales, marketing
department, marketing company
The product life cycle has four stages. Which of the following is not one of these? - Answers
Economic competition
Among the multiple buying influences, ____ control the flow of information within the
organization. - Answers Gatekeepers
The return-on-investment approach to evaluating possible product-market strategic plans is
useful when: - Answers the plans differ a lot in terms of investment required.
Which of the following statements about economic systems is true? - Answers Consumers
usually have more freedom of choice in a market-directed economy.
Early adopters - Answers tend to be opinion leaders.
One of the major disadvantages of the focus group interview approach is that - Answers it is
difficult to measure the results objectively.
Procedures that develop and analyze new information to help marketing managers make
decisions are called: - Answers marketing research
Product or brand managers are commonly used when a firm: - Answers has several different
kinds of products or brands.
"Discretionary income:" - Answers a family's income AFTER paying taxes and paying for
necessities.
Effective marketing should begin with - Answers potential customer needs.
A number of independent drugstores are working with a wholesaler to obtain economies of
scale in buying. They were organized by this wholesaler after a recent meeting to discuss ways
of competing with corporate chains. These drugstores are now part of a: - Answers voluntary
chain
The wheel of retailing concept - Answers is consistent with the emergence of supermarkets in
the 1930's
Portfolio management: - Answers allows a manager to compare different divisions within the
company
The percentage of new retailing ventures which fail during their first year is - Answers three-
fourths
The ____________ says that retailers should offer low prices to get faster turnover and greater
sales volumes by appealing to larger markets - Answers Mass-merchandising concept
In the market introduction stage of a fast product life cycle, _____ helps develop loyal customers
early and keeps competitors out - Answers a low initial penetration price
______ means that a firm has a marketing mix that the target market sees as better than a
competitor's mix. - Answers Competitive advantage
MASS SELLING, in contrast to personal selling: - Answers All of the above
Personal selling is extremely important for sellers of - Answers New unsought products
______________ is concerned with whether the research data measures what it is intended to. -
Answers Validity
Which of the following shows the correct sequence of market acceptance of a new idea, as
represented in the adoption curve? - Answers Innovators, early adopters, early majority, late
majority, laggards.
When Colgate encourages its current customers to brush more often by taking their toothbrush
and toothpaste to work with them, which market opportunity is Colgate pursuing? - Answers
Market penetration
When dealing with consumer attitudes, marketers should know that: - Answers consumer
attitudes tend to be enduring
Customer equity - Answers is the expected earnings stream of a firm's current and prospective
customers over some time period.
"Good" market segments are those which are - Answers All of the above
Regarding gross domestic product (GDP) and gross national income (GNI): - Answers A and B
are true, but not C
American economic and legislative thinking is based on the idea that - Answers competition
among many small firms helps the economy
Poor communication is likely if: - Answers the source and the receiver do not have a common
frame of reference
Market segmentation: - Answers tries to identify homogeneous submarkets within a product-
market
A marketing manager has just learned about generic markets. This may lead the manager -
, Answers All of the above.
The text considers five "eras" of marketing evolution. Which of the following shows the logical
order in which these eras occur? - Answers Simple trade, production, sales, marketing
department, marketing company
The product life cycle has four stages. Which of the following is not one of these? - Answers
Economic competition
Among the multiple buying influences, ____ control the flow of information within the
organization. - Answers Gatekeepers
The return-on-investment approach to evaluating possible product-market strategic plans is
useful when: - Answers the plans differ a lot in terms of investment required.
Which of the following statements about economic systems is true? - Answers Consumers
usually have more freedom of choice in a market-directed economy.
Early adopters - Answers tend to be opinion leaders.
One of the major disadvantages of the focus group interview approach is that - Answers it is
difficult to measure the results objectively.
Procedures that develop and analyze new information to help marketing managers make
decisions are called: - Answers marketing research
Product or brand managers are commonly used when a firm: - Answers has several different
kinds of products or brands.
"Discretionary income:" - Answers a family's income AFTER paying taxes and paying for
necessities.
Effective marketing should begin with - Answers potential customer needs.
A number of independent drugstores are working with a wholesaler to obtain economies of
scale in buying. They were organized by this wholesaler after a recent meeting to discuss ways
of competing with corporate chains. These drugstores are now part of a: - Answers voluntary
chain
The wheel of retailing concept - Answers is consistent with the emergence of supermarkets in
the 1930's
Portfolio management: - Answers allows a manager to compare different divisions within the
company
The percentage of new retailing ventures which fail during their first year is - Answers three-
fourths
