Exam 1: 2 sample test

Question 1

A reasonable definition of marketing might be:

Answer 1

Exchange

Question 2

The Wal-Mart video featured a discussion of:

Answer 2

Concern about their many employees on Medicaid

Question 3

According to the text, the “sales era” occurred before the “production era” in the evolution of the marketing concept in the US (True or False)

Answer 3

False

Question 4

Nevada demographics are similar to those of the U.S overall in what category

Answer 4

Median income

Question 5

Some of the first marketing academics (circa 1900) came from what other field?

Answer 5

Agricultural economics

Question 6

When firms loses focus on their customers, this is called

Answer 6

Marketing mypoia

Question 7

When marketers lose focus on their customers, this is called:

Answer 7

Marketing myopia

Question 8

Compared to overall U.S. demographics, Nevada:

Answer 8

Has about the same median household income

Question 9

A common “low involvement” product for most people would be:

Answer 9

Toothpaste

Question 10

The Lands’ End video stressed:

Answer 10

“Quick Response” inventory systems

Question 11

Family Life Cycles:

Answer 11

• Still illustrate spending needs of households

- Are especially valuable in analyzing demand for durable goods

Question 12

According to the text, a majority of Asian Americans are immigrants.

Answer 12

True

Question 13

When organizations focus on retaining current customers, this is called:

Answer 13

Relationship marketing