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MKT 421 Final Exam THE NEW EXAM


1) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

A.   One of the universal functions of innovation.

B.   A production activity.

C.   A part of marketing.

D.   An example of the micro-macro dilemma.


2) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

A.   Production.

B.   A command economy.

C.   Making goods or performing services.

D.   Marketing.


3) According to the text, marketing means:

A.   Much more than selling and advertising.

B.   Selling.

C.   Advertising.

D.   Producing and selling.


4) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at

A.   Market penetration.

B.   Diversification.

C.   Market development.

D.   Product development.


5) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at:

A.   Combination.

B.   Market penetration.

C.   Market development.

D.   Product development.


6) Which of the following statements regarding marketing strategies is FALSE?

A.   It is useful to think of the marketing strategy planning process as a narrowing-down process.

B.   These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm.

C.   Developing successful marketing strategies does not need to be a hit-or-miss proposition.

D.   These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market.


7) A firms marketing mix decision areas would NOT include:

A.   Promotion

B.   People

C.   Price

D.   Product





8) The marketing mix

A.   Includes four variables—People, Place, Promotion, and Price.

B.   Includes the target market

C.   Helps to organize the marketing strategy decision areas.

D.   Includes four variables—advertising, personal selling, customer service, and sales promotion.


9) Which of the following is true?

A.   The product P in the marketing mix stands for only physical goods.

B.   The product P in the marketing mix stands for both physical goods and services.

C.   The product P in the marketing mix stands for only tangible merchandise.

D.   The product P in the marketing mix stands for both physical goods and tangible


10.) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in their___________

A.   pricing.

B.   product.

C.   promotional.

D.   personnel.

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