MidtermtestFall09HannamIntromarketingWanswers

MidtermtestFall09HannamIntromarketingWanswers - Midterm...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Midterm Exam Intro to Marketing Oct. 22, 2009 Dr. Kyung-il Ghymn There are 40 multiple choice questions accounting 2.5 points for each right answer. Please select one right answer by circling it with a pen or pencil. 1. “Which of the following is central to any definition of marketing?” a. demand management b. transactions c. customer relationships d. making a sale e. making a profit (c; p. 3; Easy) {AACSB: Communication} 2. All of the following are accurate descriptions of modern marketing today, except which one? a. Marketing is creation of value for customers. b. Marketing is managing profitable customer relationships. c. Selling and advertising are synonymous with marketing. d. Marketing involves satisfying customers’ needs. e. Marketing is used by for-profit and not-for-profit organizations. (c; p. 3; Easy) {AACSB: Communication} 3. _____ are human needs as shaped by individual personality and culture. a. Needs b. Wants c. Demands d. Values e. Exchanges (b; p. 6; Easy) 4. When backed by buying power, wants become ________. a. social needs b. demands c. physical needs d. self-esteem needs e. exchanges (b; p. 7 Easy)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5. Which of the following is an example of a type of market offering? a. persons b. ideas c. information d. experiences e. all of the above (e; p. 7; Easy) 6. _____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. a. Selling myopia b. Marketing management c. Value proposition d. Marketing myopia e. The product concept (d; p. 7; Easy) {AACSB: Communication} 7. _____ is the act of obtaining a desired object from someone by offering something in return. a. A value proposition b. Exchange c. Bribery d. Value e. Donation (b; p. 8; Easy) 8. In addition to attracting new customers and creating transactions, the goal of marketing is to ________ customers and grow their business. a. encourage b. entertain c. retain d. recognize e. educate (c; p. 8; Moderate) {AACSB: Communication} 9. The ________ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer’s and society’s well being. a. marketing b. selling c. product d. societal marketing e. equity (d; p. 12; Easy) {AACSB: Ethical Reasoning}
Background image of page 2
10. The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society’s interests, and ________. a. human welfare b. want satisfaction c. company profits d. short-run wants e. long-term needs (c; p. 12; Easy) {AACSB; Ethical Reasoning} 11. According to the authors of your text, some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/18/2011 for the course ACCT 422 taught by Professor Smith during the Spring '11 term at UMBC.

Page1 / 9

MidtermtestFall09HannamIntromarketingWanswers - Midterm...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online