Test 1 Ch 1

Question 1

True or False: Marketing management is defined as “planning, executing, and managing a variety of functions to deliver value to the customer and the organization.”

Answer 1

True

Question 2

Which of the following is NOT a marketing “basic” as described in the “Marketing Management Today” textbook?

Answer 2

Getting customers to buy your product

Question 3

True or False: Brand positioning is defined as “creating a unique place in someone’s mind when they think of a brand.”

Answer 3

True

Question 4

Marketers are concerned with which of the following? (Choose the best answer.)

Answer 4

Each of these options

Question 5

Which of the following questions does a value proposition answer for a prospective customer? (Choose the best answer.)

Answer 5

Both “Why should I do business with you?” and “How are you different than your competitors?”

Question 6

A company has to manage selling the same product to different customer segments in different places. This is called ____.

Answer 6

Channel conflict

Question 7

True or False: The “value exchange” is the idea that two parties both give and receive something of value.

Answer 7

True

Question 8

Grouping prospects and customers by various characteristics, behaviors, and traits is referred to as ____.

Answer 8

Market segmentation

Question 9

True or False: Marketing entails developing a strategy and executing to support the strategy.

Answer 9

True

Question 10

True or False: Most recent graduates would likely step into a marketing manager role right out of college.

Answer 10

False

Question 11

Which of the following types of jobs can be found in the marketing profession? (Choose the best answer.)

Answer 11

Each of these options

Question 12

“Marketing is art and science” means which of the following? (Choose the best answer.)

Answer 12

Marketing is creative and analytical

Question 13

True or False: A target market is a group of people with similar characteristics who may be likely to buy a company’s products or services.

Answer 13

True

Question 14

True or False: If you work hard in marketing for a few years, it is likely you will reach the level of CMO within 10 years of graduating.

Answer 14

False

Question 15

The primary goal of the “Marketing Management Today” textbook is to help you ____. (Choose the best answer.)

Answer 15

View marketing from both customer and company perspectives