Marketing Exam _ 1, Rev Student

Marketing Exam _ 1, Rev Student - Principles of Marketing,...

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Principles of Marketing, Summer 2011 Marketing Exam # 1 - Revised Name:____________________ True/False and Multiple Choice are each worth 2 points for a total of 52 points and the essays are worth 7 points each for a total of 49 points for a possible total of 101 points. Remember, an essay is: In both secondary and tertiary education, essays are used to judge the mastery and comprehension of material. Students are asked to explain, comment on, or assess a topic of study in the form of an essay. True/False Indicate whether the statement is true or false. ____ 1. Marketing can be simply defined as selling products. ____ 2. World Championship Wrestling (WCW), a one-time competitor of the World Wrestling Federation (now known as World Wrestling Entertainment), failed primarily because it set up its matches according to what its wrestlers wanted to do rather than what its fans wanted to see. Obviously, WCW had a market orientation. ____ 3. A competitive advantage is some unique aspect of a firm's offering, or of the firm itself, that causes target customers to patronize the firm rather than its competition. ____ 4. Thomas Office Supply has developed a clipboard design that will better fulfill the needs not only of its customers in the hospital market, but also of potential new customers in the educational market. This is an example of diversification. ____ 5. Fortunately, most businesspeople have progressed beyond the self-centered and manipulative actions of preconventional morality. ____ 6. While a single firm cannot control the elements in the external environment, a firm can sometimes influence that environment. ____ 7. Psychography is the study of people's vital statistics such as their ages and locations. ____ 8. After Hal Li purchased and installed a woodburning stove to heat his family home, the stove caught on fire and damaged much of the house. He believes the stove had inadequate insulation. Li should voice his concerns to the Federal Trade Commission (FTC).
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____ 9. Often hotels will offer deep discounts on weekends and during the off-season; for the same reason, airlines will adopt a similar pricing strategy during off-peak hours. These services cannot be stored, warehoused, or inventoried because they are perishable. ____ 10.
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Marketing Exam _ 1, Rev Student - Principles of Marketing,...

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