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MK320 Midterm Quiz 2 Flashcards | StudBud
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MK320 Midterm Quiz 2
MK320 Midterm Quiz 2
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Questions
20
Answers
1
Lifestyle and personality fall into which type of major segmentation variable?
Psychographic
Geographic
Behavioral
Demographic
2
To the extent that a company can differentiate and position itself as providing superior customer value it gains what?
Value Proposition
Target Segments
Perceptual Map Space
Competitive Advantage
3
Business demand is also called what?
Supply Demand
Derived Demand
Office Demand
Store Demand
4
The decision-making unit of a buying organization is also called what?
Supply Center
Purchase Center
Buying Office
Buying Center
5
What is not one of the core reasons why governments regulate businesses?
To protect companies from other companies
To protect the greater society from unchecked business activities
To protect companies from customers
To protect consumers from companies
6
______defines the company's overall mission and objectives.
Marketing Mix
Vision Statement
Strategic Plan
Mission Statement
7
The business market is small.
True
False
8
What studies human populations in terms of size, density, location, age, gender, race, occupation, and other statistics?
Sociology
Demography
Marketing
Natural Environments
9
Product position is the way the product is defined by consumers on important attributes.
False
True
10
The societal marketing concepts considers all of the following except...
Company requirements
undertaking a large-scale promotion effort
Society's long-run interests
Consumer want and long-run interests
11
What is any group that has an actual or potential interest in or impact on an organization's ability to achieve goals?
Competitors
Publics
Customers
Banks
12
Which of the following is an example of consumer-generated marketing?
Consumer-to-consumer exchanges on social media
A radio ad
An ad campaign using AI
An ad on Netflix
13
The internet of things is a global environment where everyone is digitally connected to everyone and everything.
False
True
14
What is this an example of?
Price/Cost Graph
Position/Perceptual Map
Company Chart
Differentiation Grid
15
Business buyers usually face more complex buying decisions than consumer buyers.
False
True
16
Marketing Department actions can increase purchase costs, disrupt production schedules, so other departments may what?
Develop the marketing department's efforts
Resist the marketing department's efforts
Support the marketing department's efforts
Encourage the marketing department's efforts
17
Which of the following is a losing value proposition?
Less for Much Less
More for More
Less for More
The Same for Less
18
The art and science of choosing target markets and building profitable relationships with them is
Marketing research
Marketing strategy
Marketing study
Marketing management
19
___________is the process of dividing a market into distinct groups of buyers.
Diversification
Positioning
Sales
Marketing Segmentation
20
Perceptual mapping can be used to do what?
Write a hypothesis
Conduct a literature review
Determine if qualitative or quantitative research should be used
See the relative position of two products on two or more dimensions
