Reading comprehension 11

Question 1

The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem is called

a. 
marketing research.
b. 
target marketing.
c. 
marketing segmentation.
d. 
market sampling.
e. 
decision research.

Answer 1

a.

marketing research.

Question 2

The organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders is

a.
production.
b.
the chain of command.

c.
marketing.

d.
distribution.
e.
dispersion.

Answer 2

c.

marketing.

Question 3

The utility created by converting production inputs into finished products is called __________ utility.
a.
form

b.
time

c. 
production
d. 
place
e. 
possession

Answer 3

a.

form

Question 4

To implement the marketing concept, a firm must first
a. 
mobilize its marketing resources.
b. 
promote the product.

c.
obtain information about its customers’ needs.
d.
develop the product.
e.
determine if customers want the firm to practice the marketing concept.

Answer 4

c.

obtain information about its customers’ needs.

Question 5

A market is a group of individuals and/or organizations that have needs for products in a given category and have the ability, willingness, and \_\_\_\_\_\_\_\_\_\_\_ to purchase such products.
a. 
utility
b. 
credit
c. 
desire
d. 
money
e. 
authority

Answer 5

e.

authority

Question 6

A marketing strategy consists of the selection and analysis of a target market and

a.
the examination of potential market regions.

b.
the determination of product features and benefits to meet the customers’ needs.
c.
decisions about how to distribute the product and at what price.
d.
decisions about how and where to advertise and promote the product.

e.
the creation and maintenance of an appropriate marketing mix.

Answer 6

e.

the creation and maintenance of an appropriate marketing mix.

Question 7

The effects of economic conditions on consumers’ ability and willingness to buy would best be called _________ forces.

a. 
technological
b. 
sociocultural
c. 
competitive
d. 
economic
e. 
legal and regulatory

Answer 7

d.

economic

Question 8

The amount of a product an organization expects to sell during a certain period of time, based on a specified level of marketing effort, is called a

a.
marketing information system.
b.
marketing mix.

c. 
sales forecast.
d. 
product mix.
e. 
market share.

Answer 8

c.

sales forecast.

Question 9

A computer-based system for continually gathering internal and external information is called

a.
marketing research.

b. 
a marketing information system.
c. 
market segmentation.
d. 
market targeting.

e.
market programming.

Answer 9

b. A marketing information system

Question 10

Marketing managers are better able to predict consumer responses to marketing strategies and to develop a satisfying marketing mix if they are aware of the factors that

a. are controllable marketing forces.

b. 
are uncontrollable marketing forces.
c. 
affect buying behavior.
d. 
are used to segment the market.

e.
are involved in the handling of consumer complaints.

Answer 10

c. affect buying behavior.