MANAGING MANAGEMENT FUNCTION

Question 1

Consumers will be more ____________ to acquire goods that are
readily accessible and can be purchased for less than competing items
of the same type

Answer 1

Inclined

Question 2

The key to success is viewed as ___________________ to
optimize customer satisfaction.

Answer 2

Offering a superior product

Question 3

The ______________ gives heed to what the customers want.

Answer 3

PRODUCTION CONCEPT

Question 4

Personal selling refers to the _________________ in a conversation
with one or more prospective purchasers for the purpose of making a
sale

Answer 4

Oral presentation

Question 5

Personal selling may be useful to the ________________ of the
engineer manager.

Answer 5

MARKETING CONCEPTS

Question 6

It includes the employees, customers, and other stakeholders who
interact with a business

Answer 6

PEOPLE

Question 7

The procedures and steps involved in delivering a product or service
to the end-user are part of the marketing mix particularly the
_______________.

Answer 7

PROCESS

Question 8

The tangible aspects of a product, including packaging, branding, and
more are referred to as the _______________ in a marketing mix.

Answer 8

Physical evidence

Question 9

It focuses on making a profit by meeting the needs and wants of
customers.

Answer 9

MARKETING CONCEPT

Question 10

It is the use of marketing disciplines to achieve organizational goals
by developing and maintaining a sustainable competitive advantage.

Answer 10

STRATEGIC MARKETING

Question 11

It is a group that has been chosen because of similar traits like age,
income, and lifestyle as the most probable candidates to purchase a
product.

Answer 11

TARGET MARKET

Question 12

It involves fine-tuning strategies to maximize efficiency and adapt to
changing market conditions, which is crucial in the context of
strategic marketing.

Answer 12

Optimization

Question 13

It is a group of activities designed to facilitate and expedite the selling
of goods and services.

Answer 13

MARKETING

Question 14

It is the process of planning, executing, and tracking the marketing
strategy of an organization

Answer 14

MARKETING MANAGEMENT

Question 15

It is a tool to structure marketing activities that helps managers
consider all relevant aspects of their project.

Answer 15

Marketing Mix

Question 16

In the marketing sense, this term includes the tangible or intangible
item and its capacity to satisfy a specific need.

Answer 16

PRODUCT

Question 17

It refers to the money or other considerations exchanged for the
purchase or use of the product, idea, or service.

Answer 17

PRICE

Question 18

It is the difference between total revenue and total costs and is
calculated with the profit equation.

Answer 18

PROFIT

Question 19

It refers to a reduction in the original price of a product or service.

Answer 19

DISCOUNT

Question 20

In the marketing mix, it may be virtual or real-world, where you will
market your goods or services

Answer 20

Place

Question 21

One of the most common versions of the marketing mix is the so
called ____________

Answer 21

SEVEN P’S OF MARKETING

Question 22

It is the money generated from normal business operations. It is
calculated by the sales of the product times the quantity of units sold.

Answer 22

TOTAL REVENUE

Question 23

It is all expenses related to operating the business that are directly
related to producing a good or service.

Answer 23

TOTAL COST

Question 24

It serves the practical purpose of protecting the product during
transportation and storage.

Answer 24

PACKAGING

Question 25

It is often used by businesses that have a large amount of excess capacity

Answer 25

Production Concept

Question 26

The promotional tool that publishes news or information about a product, service, or idea on behalf of a sponsor but is not paid for by the sponsor.

Answer 26

PUBLICITY

Question 27

It is focused on persuading customers that the products offered were superior in quality and value to those of competitors.

Answer 27

Marketing Strategies

Question 28

Any paid attempt to communicate with the customers other than advertising, publicity, and personal selling.

Answer 28

SALES PROMOTION

Question 29

This is the one segment that relies on research into the decisions of a company's current customers.

Answer 29

Behavioral

Question 30

These are the main characteristics that define your target market.

Answer 30

Demographic

Question 31

It is the long-term result that the customer hopes to achieve by selecting the product.

Answer 31

PROMISED PRODUCT

Question 32

This product includes the tangible product and all of the services that support it.

Answer 32

Augmented product

Question 33

The location of the business must be located in close proximity to the target market.

Answer 33

Geographic location

Question 34

This relates to how simple it is for clients to visit the location.

Answer 34

ACCESSIBILITY

Question 35

The selling concept is the idea that businesses should focus on creating products that are superior in quality and features to those of their competitors

Answer 35

FALSE

Question 36

If a business can create a better product, then customers will be more likely to buy it.

Answer 36

TRUE

Question 37

Medina defines advertising as "a paid message that appears in the mass media for the purpose of informing or persuading people about particular products, services, beliefs, or action."

Answer 37

FALSE

Question 38

If the engineering manager wants to reach a large number of people, he may use any of the mass media depending on his specific needs and his budget.

Answer 38

TRUE

Question 39

Unlike advertising, where the sponsor pays for space or time, personal selling is considered "earned media."

Answer 39

FALSE

Question 40

The idea of selling concept is to sell the company’s product through large scale marketing and promotional activities while also fulfilling the customers’ needs.

Answer 40

FALSE

Question 41

Marketing concept is product - oriented.

Answer 41

FALSE

Question 42

Strategic marketing addresses high-level considerations such as what markets to target, which services to offer, and how to price and promote them.

Answer 42

TRUE

Question 43

To maximize sales and profits, a company has the only option of serving entirely of its chosen market.

Answer 43

FALSE

Question 44

The target market is a group wherein they are characterized by shared characteristics and interests that make them more likely to be interested in and benefit from what the business offers.

Answer 44

TRUE

Question 45

A target market must have the ability to satisfy the profit objectives of the company.

Answer 45

TRUE

Question 46

At whatever management level the engineer manager works, he must be concerned with convincing others to patronize his outputs.

Answer 46

TRUE

Question 47

Designing and creating new products and services is the core job of an engineer.

Answer 47

TRUE

Question 48

When a company cannot be near the customers, they can hire sales agents to cover specific areas

Answer 48

TRUE

Question 49

When services and ideas are similar in quality and other characteristics, price will be a strong factor on whether or not a sale will be made.

Answer 49

FALSE

Question 50

Five considerations when designing and branding products.

Answer 50

Quality, Packaging, Design, Materials, Production Cost

Question 51

The five marketing concepts.

Answer 51

Production Concept, Product Concept, Selling Concept, Marketing Concept, Societal Marketing Concept

Question 52

The two objectives of the production concept

Answer 52

Achieve high sales volume Produce products that are low in cost and easy to manufacture

Question 53

The four tools used in the promotion

Answer 53

Advertising, Publicity, Personal Selling, Sales Promotion

Question 54

The four public advertising carriers

Answer 54

Radio , Television, Magazine, Newspaper

Question 55

Four major segments of consumers

Answer 55

Demographic, Geographic, Psychographic, Behavioral

Question 56

The four levels of product

Answer 56

Core product, Tangible product, Augmented product, Promised product