MCM.525 (MKT MGT) MCQ G1

Question 1

Building long-term relationships with key constituents in order to earn and retain their business is the aim of _____.

Accepted Answer

relationship marketing

Question 2

The product concept holds that consumers will prefer products that are widely available and inexpensive.

Accepted Answer

False

Question 3

Which concept of marketing is/are customer oriented?

Accepted Answer

Modern concept of marketing

Question 4

The last section in a marketing plan should contain _____.

Accepted Answer

implementation controls

Question 5

The first phase of the value creation and delivery sequence is _____.

Accepted Answer

choosing the value

Question 6

_____ are wants for specific products backed by an ability to pay.

Accepted Answer

Demands

Question 7

Marketing is

Accepted Answer

Managerial process

Question 8

Abraham Maslow is the father of Modern Marketing.

Accepted Answer

False

Question 9

_______ is the act of obtaining a desired object from someone by offering something in return.

Accepted Answer

Exchange

Question 10

The task of any business is to deliver ________ at a profit.

Accepted Answer

customer value

Question 11

Marketing is more "art" than "science."

Accepted Answer

False

Question 12

___concept is based on philosophy that quality of goods or services of good standard can easily attract customers.

Accepted Answer

Product concept

Question 13

The _____ is the central instrument for directing and coordinating the marketing effort.

Accepted Answer

marketing plan

Question 14

Which of the following is NOT a major decision made by marketing managers?

Accepted Answer

Packaging decisions competitors should make

Question 15

The term marketing refers to _______

Accepted Answer

A philosophy that stresses customer value and satisfaction.

Question 16

Marketing is about identifying and meeting human and social needs.

Accepted Answer

True

Question 17

Good marketing is no accident but a result of careful planning and _____.

Accepted Answer

Execution

Question 18

The key term in the American Marketing Association’s definition of marketing is:

Accepted Answer

Value

Question 19

________ is not a type of Marketing Concept

Accepted Answer

The Supplier Concept

Question 20

Today, marketing must be understood in a new sense that can be characterized as _________

Accepted Answer

Satisfying customer needs

Question 21

SWOT analysis refers to an analysis of a company's _____.

Accepted Answer

strengths; weaknesses; opportunities; threats

Question 22

The four Ps of marketing are: production, price, place, and promotion

Accepted Answer

True

Question 23

Marketing is a process which aims at ________

Accepted Answer

The satisfaction of customer needs

Question 24

In the history of marketing, when did the production period end?

Accepted Answer

In the 1920s.

Question 25

The holistic marketing framework is designed to address which three key management questions?

Accepted Answer

value exploration; value creation; value delivery

Question 26

Modem concept of marketing consists of

Accepted Answer

All of these

Question 27

At a fast-food restaurant, what is marketed?

Accepted Answer

Goods & Service

MCM.525 (MKT MGT) MCQ G1

Questions 27

MCM.525 (MKT MGT) MCQ G1

Questions 27