Principles of Marketing Case

MKT 201: PRINCIPLES OF MARKETING [pic 1]

Instructor :Dr. M. Haluk Koksal

   QUIZ I (FALL- 2014)

Wednesday, November 01. 2014              Time: 1:30 - 2:30 PM         [pic 2]

General Instructions

• THIS EXAMINATION PAPER HAS 5 PAGES INCLUDING THE COVER PAGE.
• PLEASE COUNT THE NUMBER OF PAGES BEFORE YOUR BEGIN THE EXAM.
• NO ELECTRONIC DEVICES ARE ALLOWED IN THE EXAM ROOM.
• NO PAPER DICTIONARIES ARE ALLOWED.

Student Name:           __________________________________

Student ID:                __________________________________

1. Please find the right answer and circle it. (3 P each)

1. Marketing seeks to create and manage profitable customer relationships by delivering ________ to customers.

1. competitive prices
2. superior value
3. superior service
4. product assortment

1. Today, marketing must be understood in terms of not just making a sale but also ________.

1. satisfying customers’ needs
2. understanding customers’ self-images
3. advertising brilliantly
4. successfully remaining in the market

1. The five alternative concepts under which organizations conduct their marketing activities include the production, ________, selling, marketing, and societal marketing concepts.

1. promotion
2. pricing
3. distribution
4. product

1. The societal marketing concept seeks to establish a balance between consumer short-run wants and society’s ________.

1. short-run costs and profits
2. short-run ethics
3. long-run welfare
4. health

1. Through their marketing offerings, marketers demonstrate they understand ________.

1. consumer needs and wants
2. product benefits
3. competitors’ actions
4. the global marketplace

1. At the corporate level, a company starts the strategic planning process by defining its overall purpose and ________.

1. mission
2. values
3. opinions
4. strengths

1. The principle objective of a market-oriented mission statement is to ________.

1. satisfy basic customer needs
2. satisfy basic supplier needs
3. satisfy basic stockholder needs
4. satisfy basic owner needs

1. The BCG market growth rate provides a measure of ________.

1. company strength in the market
2. decline of competitors
3. market attractiveness
4. the unit stock value

1. A common practice among marketers is to increase sales to current customers without changing their products. What is this practice called?

1. market skimming
2. market penetration
3. market development
4. product extension

1. Marketing plays a key role in a company’s strategic planning. Which of the following does marketing provide?

1. guiding philosophy
2. inputs
3. strategies
4. objectives

1. Pioneer Dried Foods works hard to link each of its company departments to accomplish its goals in what is called a company ________.

1. value chain
2. value-delivery network
3. channel of distribution
4. networking

1. Today the four Ps are compared to the four Cs. Product and place are called ________ and ________, respectively.

1. convenience; customer solution
2. customer cost; convenience
3. communication; customer solution
4. customer solution; convenience

1. Mission statements should be ________.

1. market oriented
2. technology oriented
3. growth oriented
4. profit oriented

1. Banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________.

1. financial intermediaries
2. physical distribution firms
3. marketing service agencies
4. resellers

1. Your advertising agency is currently researching the gender, education, location, age, and occupations of your target market. What is this environment called?

1. demographic
2. psychographic
3. geographic
4. product-use

1. The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.

1. raw material market
2. natural environment
3. endangered environment
4. factors of production

1. When a customer is satisfied, it means that a product’s performance ________ his or her expectations.

1. exceeds
2. redefines
3. falls short of
4. lives up to

1. ________ means managing markets to bring about profitable exchange relationships by creating value and satisfying needs and wants.

1. Selling
2. Promoting
3. Marketing
4. Market segmentation

1. Successful organizations base their missions on their ________.

1. distinctive competencies
2. strategic plans
3. value statements
4. value propositions

1. _________is the approach that companies classify their businesses based upon?

1. most profitable units
2. growth-share matrix
3. customer retention
4. cost benefits

II- Answer the two the following questions (20 points each)

1. Write down and explain how companies respond to the changes in the marketing environment.

22- Write down and explain the forces or developments affecting the changing marketing landscape.