Marketing_081_Test_1_with_Answer_Key

Marketing_081_Test_1_with_Answer_Key - Marketing 081 Test...

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Marketing 081 Test #1 Name:___________________ Joseph Nathan Cohen Fall 2006 Instructions. There are 35 questions on 6 pages (excluding this page) in this test. Write your name on the front of this question sheet. Using a pencil, place your answers on the Scantron sheet. At the end of the test, give me the first page of this test and keep the remainder to study for the final exam. You may leave class once you are done. Good Luck!
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1 1. What are you studying in this class? a. Marketing b. Whatzit? c. Huh? d. Molecular biology e. None of the above 2. Which of the following groups do not use the tools of marketing? a. Businesses b. Governments c. Politicians d. Charities e. None of the above – all use marketing 3. Larry Fillmore wants to be mayor of Philadelphia. In his efforts to be reelected, he took a trip to California and met with voters in San Diego. What is the problem with this marketing strategy? a. He does not run enough focus groups b. He is not concentrating on his target market c. His value proposition is too weak for San Diego voters d. He did not try to establish name recognition enough in California e. None of the above 4. A natural, indefinable state of deprivation is called a ____________. Over our lives, we’ve come to associate the resolution of this deprivation with particular products. The products we seek to resolve this deprivation is called a _______________. a. Desire; Demand b. Want; Demand c. Need; Desire d. Need; Want e. Want; Demand 5. When you make a marketing offer, you promise a set of benefits that will satisfy your target’s desires. This is called a ____________________. a. Market tender b. Value proposition c. Promised value d. Target proposal e. None of the above 6. Pick the one that does not belong a. Societal concept b. Production concept c. Advertising concept d. Marketing concept e. Selling concept 7. Which of the following would most closely describe the sales orientation to marketing? a. The best marketers create products with excellent quality and product features. b. The best marketers produce a high volume of goods with economic efficiency c. The best marketers try to understand their markets and build enduring relationships with them d. The best marketers balance customer needs with societal welfare e. The best marketers invest heavily in advertising and promotion
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2 8. J-Mart has learned that loyal customers are more valuable. It has estimated that each of its customers will spend $40,000 at their stores over their lifetime. If it retains 100,000 of these customers, then its ________________ will be worth $4 billion. a. Customer equity b. Aggregate customer value c. Brand value d. Loyalty premium e. None of the above 9. What is the first step in the process of strategic planning a. Setting objectives b. Identifying a target market c. Analyzing your business portfolio d. The BCG Matrix e. None of the above 10. When you perform a business portfolio analysis, you are a. Identifying the portfolio of
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Marketing_081_Test_1_with_Answer_Key - Marketing 081 Test...

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