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1.      True/False:        The word marketing encompasses a broad scope of activities and ideas

2.      True/False:        There are five eras in the history of marketing

3.      True/False:        Marketing myopia is the failure of managers to recognize the scope of their                                business

4.      All of the following are the four kinds of utility except:

a.      Ownership utility

b.     Time utility

c.      Place utility

d.     Form utility

e.      Person utility

5.      True/False: Strategic planning is defined as the process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives

6.      True/False: Marketing planning refers to implementing planning activities devoted to achieving marketing objectives

7.      True/False: The organization mission is the essential purpose that differentiates the organization from others

8.      All of the following consist of Porter's five forces with the exception of :

a.      The threat of new entrants—is influenced by the cost and difficulty of entering a market. The Internet has reduced the barriers to market entry in many industries

b.     Bargaining power of buyers—can influence the firm's strategy as customers can easily find alternate suppliers and do price comparisons and switch to a better supplier

c.      Bargaining power of suppliers—is influenced by the number of suppliers

d.     The threat of substitute products—can be either products from a competing firm or industry

e.      Rivalry among competitors—all the above four factors influence rivalry

f.       Bargaining power of the market - is influence by different firms trying to position themselves to be very competitive

9.      SWOT" is an acronym for ____________, _____________, _____________, ____________

10.  Identify the four strategic elements of the marketing mix:

1.      ...................

2.      ...................

3.      ...................

4.      ...................

11.  True/False: Gross domestic product (GDP) - Sum of all goods and services produced by a nation in a year

12.  True/False: An oligopoly is an industry in which there are only a limited number of sellers and where entry costs deter newcomers from entering the industry. Such a structure ensures that the corporations remain innovative

13.  The Business Cycle consist of all of the following except:

a.      Prosperity

b.     Recession

c.      Depression

d.     Recovery

e.      Inflation

14.  True/False: Unemployment refers to the proportion of people in the economy who are seeking work but do not have jobs

15.  List the two types of competition ________________ & _______________

16.  Choose the correct answer - Social media has quickly grown to be an important tool for marketers to:

a.      Build relationships with customers

b.     Strengthen brands

c.      Launch new products

d.     Enter new markets

e.      Boost sales

f.       All of the above

17.  True/False: Consumers rely on the communities created by social media for their buying decisions in order to Learn about new goods and services, conduct research and share information and make final purchase decisions

18.  True/False: Influencers are Individuals with the capability of affecting the opinions or actions of others

19.  True/False: Many companies are now drafting written policies for the use of social media, by individuals in the workplace as well as by groups such as the marketing department for company purposes

20.  All of the following are well-written social media policies except:

a.      Consistent with a firm's organizational culture and values

b.     Explain why employees should take certain steps or actions (or avoid them)

c.      Broad enough to cover the major points, but brief enough to fit onto two pages

d.     Linked to other relevant company policies and guidelines

e.      Describes what customer should expect and services provided

21.  True/False: E-business describes the wide range of business activities that take place via Internet applications, such as email and virtual shopping carts

22.  True/False: Global reach is the ability to reach anyone connected to the Internet anywhere in the world

23.  True/False: Extranets are secure networks used for e-marketing that are accessible through the firm's Web site by external customers, suppliers, or other authorized users

24.  The following are the four main functions of the Internet except:

a.      E-business

b.     Entertainment

c.      Information

d.     Communication

e.      Advertising

25.   True/False: Web-to-store shoppers are consumers who use the Internet as a tool to aid their purchases made at stores

26.  Marketers recognize three broad categories of interpersonal influences which consist of the following except:

a.      Cultural

b.     Social

c.      Family Influences

d.     Ethical considerations

27.  List four of the Six classes within the social structures of both small and large U.S. cities

________________...._______________...___________________..________________

28.  True/False: Need - Imbalance between a consumer's actual and desired states

29.  True/False: Motive - Outer state that directs a person toward the goal of satisfying a need

30.  What are the four components that influence purchasing decisions:

_______________....________________...____________________..________________

 

31.  True/False: About 91 percent of all Internet sales are B2B transactions

32.  Characteristic(s) that distinguish the business market from the consumer market is/are

 

a.      Geographic market concentration

b.     The sizes and numbers of buyers

c.      The purchase decision process

d.     Buyer-seller relationships

e.      All of the above

33.  A primary goal of B2B relationships is to provide advantages that no other vendor can provide: An example of that is_______________

a.      Higher prices

b.     Slower delivery

c.      Better quality and reliability

d.     Non-Customized product features

e.      Less favorable financing terms

34.  True/False: Environmental conditions such as economic, political, regulatory, competitive, technological considerations, and natural disasters influence business buying decisions

35.  True/False: Infrastructure—the underlying foundation for modern life and efficient marketing that includes transportation, communications, banking, utilities, and public services—is an important economic factor to consider when planning to enter a foreign market

36.  True/False: Tariffs refer to taxes levied on imported products; some tariffs impose set taxes per pound, gallon, or unit; others are calculated according to the value of the imported item

37.  True/False: Globalization affects almost every industry and individual throughout the world, at least in some way

38.  True/False: A franchise is a contractual arrangement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser

39.  True/False: Many marketing experts believe that most products demand multidomestic marketing strategies to give them a realistic global marketing appeal

40.  True/False: In developing a marketing mix, international marketers may choose between two alternative approaches: a global marketing strategy or a multidomestic marketing strategy

 

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