ETS MFT MBA LATEST EXAM 2024.2025 100%
ACCURATE FALL-SPRING (COMPLETE 200 QUESTIONS)
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.
What is included in the historical cost? - ANSWER: 1. The purchase price 2. All costs
of getting it to your business (transportation costs) 3. All the costs of getting it ready
for your intended use. (preparation costs)
Under the accrual basis, when should revenue be recorded in your financial
statement? - ANSWER: When it is "earned".
When is the earning process complete in a sale transaction? - ANSWER: When the
legal title to the item is transferred from the seller to the buyer.
When is the earning process complete in a service transaction? - ANSWER: When the
work is substantially complete - i.e. the customer would be willing to pay for the
services which have been provided.
Explain "Matching" - ANSWER: After revenues have been recorded in the
appropriate period they are earned, then all the costs related to that revenue should
be reported as an expense in the same period.
What is the format of the Income statement? Step 1: - ANSWER: Sales-COGS = Gross
Profit
ACCURATE FALL-SPRING (COMPLETE 200 QUESTIONS)
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.
What is included in the historical cost? - ANSWER: 1. The purchase price 2. All costs
of getting it to your business (transportation costs) 3. All the costs of getting it ready
for your intended use. (preparation costs)
Under the accrual basis, when should revenue be recorded in your financial
statement? - ANSWER: When it is "earned".
When is the earning process complete in a sale transaction? - ANSWER: When the
legal title to the item is transferred from the seller to the buyer.
When is the earning process complete in a service transaction? - ANSWER: When the
work is substantially complete - i.e. the customer would be willing to pay for the
services which have been provided.
Explain "Matching" - ANSWER: After revenues have been recorded in the
appropriate period they are earned, then all the costs related to that revenue should
be reported as an expense in the same period.
What is the format of the Income statement? Step 1: - ANSWER: Sales-COGS = Gross
Profit
