Chapter 1: Marketing is Dynamic!

Self-Check

Marketing is Dynamic! Self-Check

Name: ________________________________ Date: _______________ True/False: Circle T if the statement is true or F if the statement is false. T T T T T T T T T T F F F F F F F F F F 1. 2. 3. 4.
Marketing consists of advertising and selling. Customer needs and wants are affected by changes in the economy, technology, and social trends.

The customer is the focus of the marketing mix.

The same marketing mix can be used successfully with any product or target market. 5. Learning marketing skills can help people to effectively present themselves in many situations. 6. The same marketing mix can meet the needs of all customers. 7. Marketing mix decisions affect each other. 8. The Four Ps are product, price, place, and production. 9. Marketing skills can help you when you start your career. 10. Marketing has little to do with relationships.

Multiple Choice: Write the letter of the best response in the space to the left of the number. ______ 1. The process of telling people about the product and the company that offers it is _____. A. B. C. D. ______ 2. promotion brainstorming retailing distribution

The plan of action for marketing a product is the _____. It consists of the decisions made about each of the Four Ps. A. B. C. D. SWOT analysis marketing dynamic marketing mix competition grid

______

3.

An individual or group who buys products is known as a _____. A. B. C. D. customer retailer producer distributor

Oxford University Press, 2013, Marketing Dynamics Online, ISBN: 978-0-19-900745-5

Chapter 1: Marketing is Dynamic!

Self-Check

______

4.

A _____ is a physical item; something you can touch. A. B. C. D. service product market good

______

5.

Making products available to customers involves the element of _____. A. B. C. D. customer service place promotion marketing

______

6.

A company will focus on satisfying the needs of a specific group of customers, known as its _____. A. B. C. D. demographic employees target market clientele

______

7.

_____ consists of dynamic activities that focus on the customer to generate a profitable exchange. A. B. C. D. Promotion Marketing Retailing Product development

______

8.

A concept, cause, issue, image, or philosophy that can be marketed is a(n) _____. A. B. C. D. good product idea article

______

9.

The amount of money requested or exchanged for a product is the _____. A. B. C. D. price gross sum quantity

______

10. The _____ consists of product, place, price, and promotion. A. marketing mix B. advertising campaign C. marketing dynamic D. Four Ps
Oxford University Press, 2013, Marketing Dynamics Online, ISBN: 978-0-19-900745-5

Chapter 1: Marketing is Dynamic!

Self-Check

______

11. An action that is done for you is a(n) _____. A. B. C. D. promotion activity service intangible

______

12. The process of physically delivering goods to customers is _____. A. B. C. D. brand positioning channel management distribution disposal

______

13. A guide that helps a company avoid such pitfalls as lost sales, lost opportunities, and poor product planning is a _____. A. B. C. D. mission statement marketing plan game plan code of ethics

______

14. Anything that can be bought or sold is a _____. It includes goods, services, and ideas. A. B. C. D. product consumable promotion widget

______

15. The process by which a company can determine its strengths, weaknesses, opportunities, and threats is a _____. A. B. C. D. SWOT analysis marketing analysis customer survey advertising strategy

______

16. A prediction of future sales and revenue is a _____. A. B. C. D. marketing plan hypothesis SWOT analysis forecast

______

17. A business that buys products to resell to final consumers is a _____. A. wholesaler B. retailer C. distributor D. middleman
Oxford University Press, 2013, Marketing Dynamics Online, ISBN: 978-0-19-900745-5

Chapter 1: Marketing is Dynamic!

Self-Check

______

18. Marketing consists of dynamic activities that focus on the _____ to generate a profitable exchange. A. B. C. D. product price customer promotion

______

19. The main goal of marketing is _____. A. B. C. D. to meet customer needs to meet customer wants to provide a product customers can and will buy All of the above.

______

20. A product can be a(n) _____. A. B. C. D. price, place, or promotion service, task, or calling good, service, or idea idea, advertisement, or service

______

21. Decisions about the marketing mix are made with the _____ in mind. A. B. C. D. promotional message Four Ps price limit target market

______

22. You have developed a new video game called Tactile Force Annihilation. You decide to sell it for $59.99 at EB Games and Future Shop. You think this will be a hit amongst teenage boys. Which marketing mix component did you miss when planning? A. B. C. D. Price Promotion Target market Place

Oxford University Press, 2013, Marketing Dynamics Online, ISBN: 978-0-19-900745-5

Chapter 1: Marketing is Dynamic!

Self-Check

______

23. Suppose Sony recently released a new virtual-reality television. They targeted adults in their 40s with high incomes, who love being the first to own new technology. The price point was set at $4000. The company developed a social media campaign that focused on word-of-mouth promotion through Twitter. Although Sony expected the television to sell out quickly, one week after the product launch they found that sales were low. When they surveyed customers to see what they were shopping for, many customers said they had never heard about the new television. Which part of Sonys marketing mix was handled incorrectly? A. B. C. D. Price Promotion Place Product

______

24. Suppose Nike is investigating whether to develop a set of high heel shoes for women. They have conducted a SWOT analysis to see if this would be a profitable market opportunity. Which of the following statements is a strength for Nike in this situation? A. Nike already has great distribution and brand name exposure. B. A recent study showed that women are suffering great foot pain due to poorly-designed high heel shoes. C. Women do not associate Nike with high heels. D. Launching high heels in their store may affect their athletic brand image.

Oxford University Press, 2013, Marketing Dynamics Online, ISBN: 978-0-19-900745-5

Chapter 1: Marketing is Dynamic!

Self-Check

Answer Key
True/False: 1. F 2. T 3. T 4. F 5. T 6. F 7. T 8. F 9. T 10. F Multiple Choice: 1. A 2. C 3. A 4. D 5. B 6. C 7. B 8. C 9. A 10. D 11. C 12. C 13. B 14. A 15. A 16. D 17. B 18. C 19. D 20. C 21. D 22. B 23. B 24. A

Oxford University Press, 2013, Marketing Dynamics Online, ISBN: 978-0-19-900745-5