MKTG 3701 Study Guide Exam Questions With Well Elaborated Answers.
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Course
TMN 3701
Institution
TMN 3701
According to your text, what is the most basic concept in marketing?A. satisfying the needs of stakeholders
B. streamlining production costs to generate maximum profits
C. determining the difference between consumer needs and wants
D. determining the best advertising outlet for a product
E. ...
MKTG 3701
According to your text, what is the most basic concept in marketing?A. satisfying the needs of stakeholders
B. streamlining production costs to generate maximum profits C. determining the difference between consumer needs and wants D. determining the best advertising outlet for a product E. getting all members of an organization to agree on a marketing plan - correct answer determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT?
A. product. B. profit. C. price. D. place. E. promotion - correct answer B. Profit
Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent?
A. a dilemma. B. a craving. C. a want. D. a desire. E. a need. - correct answer E. a Need
In Marketing, an exchange refers to?
A. two people bartering products and services for other products an services.
B. the money paid by a consumer for a product or service. C. buyers and sellers trading things of value so that each is better off as a result.
D. updating or replacing a non-profitable product in hopes of generating more revenue.
E. replacing a non-effective form of advertising for a more effective one. - correct answer C. buyers and sellers trading things of value so that each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In
an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance to them as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to their website where customers can post pictures of themselves using the stores gear. These efforts illustrate how the firm is engaged in?
A. personal selling
B. a sales orientation
C. relationship marketing D. logistics
E. societal marketing - correct answer C. relationship marketing
What is the premise behind the marketing concept?
A. a company-wide focus on increasing profits
B. a focus on satisfying the need of the customer
C. utilizing all aspects of marketing to persuade consumers to buy
D. an interest in streamlining production processes
E. focusing on keeping the company stakeholders satisfied - correct answer B. a focus on satisfying the needs of the customer
A company that has a market orientation and adheres to the marketing concept does NOT?
A. focus on consumer needs and wants
B. differentiate its products from its competitors products C. concentrate on long-term goal achievement for the firm D. integrate all the activities of the firm to satisfy customer wants E. fuel sales growth through the application of aggressive sales techniques - correct answer E. fuel sales growth through the application of aggressive sales techniques.
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