Marketing multiple choice and essay
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Multiple choice/True-False
1. How many variables are there in the marketing mix?
a. 2
b. 3
c. 4
d. 5
e. 6
2. The following are all factors affecting a firm's decision to pursue market segmentation strategy except:
a. Similarity of customer needs, attitudes, and buying behavior
b. Firm's resources
c. Nature of competition
d. Homogeneous markets
e. Size of target markets
3. A marketing plan consists of:
a. Customer analysis
b. Company analysis
c. Forecasting and estimates
d. Competition analysis
e. All of the above
4. Target marketers believe that ____________ should be the focus of all business and marketing activity.
a. Products
b. Customers
c. Budgets
d. Distribution channels
e. Advertising medium
5. Using coupons and samples to promote a product is a push strategy.
a. True
b. False
6. The following are all major stages of a product life cycle except:
a. Sales decline
b. Market maturity
c. Market introduction
d. Market implementation
e. Market growth
7. Quantitative market research can be summarized in numbers, like percentages, averages or other statistics.
a. True
b. False
8. The difference between primary and secondary research is:
a. Primary research consists of one-on-one interviews while secondary research is done in a group setting
b. Primary research data sources come from observation and questioning while secondary research data sources come from both inside and outside of the company
c. Primary research data is qualitative while secondary research data is quantitative
d. Primary research is based on focus group interviews while secondary research is based on one-on-one interviews
e. Primary research is less expensive but more time consuming
9. The message that a source originally encodes and the meaning a receiver ultimately decodes:
a. May contain circular feedback
b. May be different because of noise
c. Are usually exactly the same
d. Are rarely similar because of feedback
e. Are collectively termed the medium of transmission
10. The following are all promotion methods except:
a. Publicity
b. Mass selling
c. Sales promotion
d. Personal selling
e. Channel selling
Your word count for each response should be between 200 hundred 250 words.
1. What is Marketing?
2. What are the 4Ps of Marketing? Explain each stating what is it and why is it important. Select a particular product or service and provide two very specific examples of each of the Marketing 4Ps for this selected product or service.
3. Define distribution channels, explain its importance to the marketing of products/services, describe the different levels/partners involved in the process and when and why a producer or manufacturer might use zero, one or multiple channels.
4. There are two types of data used for research. What are these two types of data When implementing a marketing plan, when should you use each? What are two pros and two cons of each? Provide two examples of each.
5. What does SWOTT stand for? What is the purpose of a SWOTT? Using one of the following companies as an example, select one PRODUCT and provide a SWOTT analysis for that company. Need to provide at least two examples of each SWOTT element. McDonald's, Coca Cola, Nike.
6. What is ethics? Why is ethics so critical in marketing today? Provide two specific examples of recent (last two years) unethical behavior in the marketplace and explain why the actions were unethical.
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Solution Summary
How many variables are there in the marketing mix? What is Marketing?
What are the 4Ps of Marketing? Explain each stating what is it and why is it important. Select a particular product or service and provide two very specific examples of each of the Marketing 4Ps for this selected product or service.
Define distribution channels, explain its importance to the marketing of products/services, describe the different levels/partners involved in the process and when and why a producer or manufacturer might use zero, one or multiple channels.
There are two types of data used for research. What are these two types of data When implementing a marketing plan, when should you use each? What are two pros and two cons of each? Provide two examples of each.
What does SWOTT stand for? What is the purpose of a SWOTT? Using one of the following companies as an example, select one PRODUCT and provide a SWOTT analysis for that company. Need to provide at least two examples of each SWOTT element. McDonald's, Coca Cola, Nike.
What is ethics? Why is ethics so critical in marketing today? Provide two specific examples of recent (last two years) unethical behavior in the marketplace and explain why the actions were unethical.
Solution Preview
1.) (c) 4
2.)(d) homogeneous markets
3.)(e) all of the above
4.)(b) customers
5.)(a) true
6.)(d) market implementation
7.)(a) true
8.)(c) Primary research data is qualitative while secondary research data is quantitative
9.) (e) Are collectively termed the medium of transmission
10.) (e.) channel selling
1. What is Marketing?
Every company or product in existence uses marketing to some degree. The way that marketing is used can vary drastically between companies, but every successful company has a marketing plan in place. Marketing is a range of activities involved in making certain that your company meets the needs of your customers, while getting value in return. Marketing involves analysis, which involves finding out who your potential customers are and who you will prefer to serve. This also determines what their needs might be and how you should develop your products or services to meet these needs. The analysis should also determine the pricing structure you will use and how you will get your product or service distributed in the market. Market research is used to find out information about the region, competitors and the best markets to target. Marketing encompasses all promotions, advertising, public relations, sales efforts and customer service that are related to a product or service. Examples of different types of marketing are relationship marketing, where the company focuses on building relationships with clients to ensure future business, business to business marketing, where businesses only market to each other, and mass marketing, where the public as a whole are segmented and targeted.
2. What are the 4Ps of Marketing? Explain each stating what is it and why is it important. Select a particular product or service and provide two very specific examples of each of the Marketing 4Ps for this selected product or service.
The four Ps of marketing are product, place, promotion and price. Each of the four Ps are equally important in the marketing mix. Product is important because it is essentially what you are planning to make a profit with for the company. It is key to find a relevant, well researched product that will fit with the demographic you have chosen. Place is important because there are different needs for different consumers based on regions of the country, or store locations. For example, if you try to sell a tennis shoe in a grocery store it probably will not sell well. That is not the appropriate place to be marketing that product. Promotion is ...
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