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1. Which of the following is the term for customers who make repeat purchases and
tell others about their positive experiences with a product or service?
A) Satisfied customers B) customer evangelists C) butterflies D) full partners E)
social customers
2. ________ is human needs as shaped by individual personality and culture.
A) Needs B) Wants C) Demands D) Values E) Exchanges
3. A (n) ________ is the set of actual and potential buyers of a product.
Market B) audience C) group D) segment E) exchange
4. Which of the following marketing management orientations focuses primarily on
improving efficiencies along the supply chain?
A) Production concept B) product concept C) selling concept D) marketing concept
E) social marketing
5. Building, keeping, and growing profitable a relationship by delivering customer
value and satisfaction is called ________.
A. Customer lifetime value B) customer perceived value C) CRM D) database
6. A company's mission statement serves as a statement of ________.
A) Fact B) values C) purpose D) financial goals E) employee commitment
7. In the BCG approach, ________ are high-share, high-growth businesses or
products. They need heavy investment to finance rapid growth. When their growth
slows down, they turn into ________.
A) cash cows; stars B) question marks; dogs C) stars; question marks D) stars; cash
8. Which of the following is a useful tool for identifying growth opportunities?
A) The BCG matrix B) the business portfolio C) the product/market expansion grid D)
the value chain
9. A sound marketing strategy begins with which of the following?
A) customer analysis B) positioning C) differentiation D) promotion E) SWOT analysis
10. Which of the following is the place a product occupies in the consumer's mind?
A) Position B) placement C) market segmentation D) market targeting E) product
11. Which of the following is NOT a type of factor in a company's macro
A) Demographic B) economic C) technological D) competitive E) political
12. All of the groups within a company are called the ________.
A) Culture B) diversity C) internal environment D) climate E) range

13. A ________ is defined as any group that has an actual or potential interest in, or
impact on, an organization's ability to achieve its objectives.
A) Team B) competitor C) market D) public E) intermediary
14. Which type of market buys goods and services to produce public services or to
transfer them to others who need them?
A) Government B) reseller C) wholesale D) consumer E) retail
15. The ________ environment consists of factors that affect consumer purchasing
power and spending patterns. A) Cultural B) political C) technological D) economic
E) natural
16. Most large companies research ________ buying decisions to find out what they
buy, where they buy, how and how much they buy, when they buy, and why they
A) Market B) permanent C) consumer D) social E) group
17. ________ is (are) the most basic cause of a person's wants and behavior.
A) Culture B) Brand personality C) Cognitive dissonance D) Societal factors E)
Selective perception
18. ________ is society's relatively permanent and ordered divisions whose members
share similar values, interests, and behaviors.
A) Social classes B) Cultures C) Reference groups D) Attitudes E) Lifestyles
19. ________ is a person's pattern of living as expressed in his or her psychographics,
including his or her activities, interests, and opinions.
A) Personality B) Culture C) Lifestyle D) Motive E) Social class
20. A person's buying choices are influenced by four major psychological factors.
Which is NOT one of these factors? A) Motivation B) perception C) alternative
evaluation D) learning E) beliefs
21. New product development starts with ________. A) Idea generation B) idea
screening C) concept development D) concept testing E) test marketing
22. Which of the following is perhaps the most important external source of newproduct ideas?
A) Engineers B) customers C) competitors D) trade magazines, shows E) distributors
and suppliers
23. A detailed version of a new idea stated in meaningful customer terms is called a
A) Product idea B) product concept C) product image D) product proposal E) product
24. After concept testing, a firm would engage in which stage in developing and
marketing a new product? A) Idea screening B) marketing strategy development C)
business analysis D) product development E) test marketing
25. With what groups do firms conduct concept testing for new products?
A) Suppliers B) employees C) target customers D) manufacturers E) competitors

26. The time series component which reflects a regular, multi-year pattern of being
above and below the trend line is A. a trend b. seasonal c. cyclical d. irregular
27. A group of observations measured at successive time intervals is known as
A. a trend component b. a time series c. a forecast d. an additive time series model
28. A method that uses a weighted average of past values for arriving at smoothed
time series values is known as A. a smoothing average b. a moving average c. an
exponential average d. an exponential smoothing
29. A component of the time series model that results in the multi-period abovetrend and below-trend behavior of a time series is A. a trend component b. a cyclical
component c. a seasonal component d. an irregular component
30. One measure of the accuracy of a forecasting model is
A. the smoothing constant b. a De-seasonalized time series c. the mean square
error d. None of these