1. Marketing is _____.

a) the same as advertising and sales

b) not used by small corporations
c) about satisfying customer needs
d) making a profit
2. _____ are human needs that are shaped by culture and individual
personality.
a) Demands
b) Necessities
c) Values
d) Wants
3. Cathy's Clothes is a small yet successful retail chain that sells
women's clothing and accessories with a focus on buyers who have
rela0vely modest means. For this specific purpose, the firm has rolled
out several marke0ng ini0a0ves aimed at women of
a. Social marketing
b. Societal marketing
c. Target marketing
d. Cause marketing
4.Core Product Consists of the physical good or delivered service that
supplies the desired benefit
a. True
b. False
5.Shopping product: purchased with considerable time and effort
considering price, attributes, quality
a. True
b. False

1
6.Specialty product:have unique characteristics important to buyers at
any price
a. True
b. False
7.Price inelasticity of Demand Price and total revenue work in opposite
directions
a. True
b. False
8.Costs of production that do vary with the number of units produced
Processed Raw Materials,
a. Variable Costs
b. Fixed Costs
c. Total Costs
d. Fixed and Variable Costs
9.Sum of the Fixed and Variable Costs for a Set Number of Units
Produced
a. Variable Costs
b. Fixed Costs
c. Total Costs
d. Innovation
10.Tony's Beach T-Shirts has fixed annual operating costs of $75,000.
Tony retails his T-shirts for $14.99 each and the variable cost per T-shirt
is $4.99. Based on this information, the breakeven sales level in dollars
is:
a) 112,425
b) 125,495
c) 208,995
d) 108,995

2
11.The first step in the marketing process is to design a marketing
strategy.
a. True
b. False

12. ________ is defined as a social and managerial process by which

individuals and organiza0ons obtain what they need and want through
value crea0on and exchange.
a. Research
b. Manufacturing
c. Innovation
d. Marketing

13. _____ is the act of obtaining a desired object from someone by

offering something in return.
a) Exchange
b) Valuation
c) Donation
d) Market offering

14.Which of the following statements is true of the production

concept?
a. It calls for sustainable marketing.
b. It follows the customer-centered sense-and-respond philosophy.
c. it focuses on the quality of product.
d. It considers customer focus and value to be the paths to sales and
profits

3
15.Which respondents are react and adapt to forces in the
environment?
a) reactive
b) proactive
c) uncontrollable
d) None of the above

16.Product quality level is considered as part of ………………………..

a) Augmented product
b) Actual product
c) core benefit
d) deaugmented product

17.The following four steps—defining the company’s mission, setting

objectives, designing a portfolio, and developing plans— is called
_____.
a) strategic planning
b) positioning
c) differentiation
d) market penetration

18._____ are Existing products, new market - businesses or market

a) market development
b) product development
c) market penetration
d) diversification

4
19. is the process of grouping individuals or businesses, according to
use, consumption, or benefits of a product or service.
a) Market targeting
b) Market segmentation
c) Market positioning
d) Market differentiation
20.In the BCG approach, ________ are high-share, high-growth
businesses or products. They need heavy investment to finance rapid
growth. When their growth slows down, they turn into
A) cash cows; stars
B) question marks; dogs
C) stars; question marks
D) stars; cash cows
21.In a basic SWOT analysis, the "S" stands for ________.
A) situation
B) satisfactions
C) strengths
D) strategies
22.In SWOT analysis, which of the following refers to factors in the
external environment?
A) strengths
B) strategies
C) weaknesses
D) opportunities
23.Economic, technological, and cultural forces are all ________ in the
stimulus-response model of buyer behavior.
A) buyer responses
B) stimuli
C) components of the buyer's decision process
D) buyer characteristics
5