SampleMidtermQuestions_2024

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School

Cornell University *

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Course

2420

Subject

Marketing

Date

Apr 3, 2024

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pdf

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6

Uploaded by SuperHumanNeutron13183

AEM 2420 Sample Midterm Questions, 2024 Prof. Nasser The Actual Exam will have approximately 25 to 30 multiple choice questions, 4 to 5 short- answer questions, and 1 math question. Multiple Choice (1 point each): Circle the BEST answer. 1. Which of the following best reflects the marketing concept philosophy? A) "We don't have a marketing department, we have a customer needs department." B) "We're in the business of making and selling superior products." C) "We build them so you can buy them." D) "When it's profits versus customers' needs, profits take priority." E) "You won't find a better deal anywhere." 2. Cathy's Clothes is a small retail chain successfully selling women's clothing and accessories with a profitable focus on buyers who have relatively modest means. This is an example of ________. A) convenience sampling B) social marketing C) mission oriented marketing D) target marketing E) value focus 3. Secondary data consists of information ________. A) that already exists somewhere but is outdated B) that does not currently exist in an organized form C) that already exists but was collected for a different purpose D) that is used by competitors E) that researchers can only obtain through surveys and observation 4. Which of the following is the place a brand occupies in the consumer's mind relative to competition? A) positioning B) placement C) market segmentation D) market targeting E) product promotion
5. Pendergraff Pet Supplies divides the pet market according to the owners' age, gender, and income. What type of segmentation does Pendergraff use? A) geographic B) behavioral C) lifestyle D) demographic E) psychographic 6. Procter & Gamble sells six brands of laundry detergent in the United States, each designed for one of six laundry segments Procter & Gamble has identified. Together, these six brands take 62% of market share. Which of the following is a disadvantage of Procter & Gamble's differentiated marketing strategy? A) lost sales that would have been made with an undifferentiated marketing strategy across all segments B) lost customer loyalty due to lack of brand loyalty C) increased costs for separate marketing strategies for each brand D) other suppliers controlling pricing E) lack of resources to succeed in an attractive segment 7. Two important advantages of secondary data are: A) it is inexpensive and up-to-date. B) it is up-to-date and supplies all relevant types of information. C) it is inexpensive and saves time. D) it is tailor-made to specifications and relatively inexpensive. E) all of the above are true 8. To conduct a between-subjects experiment, you must A) Use random assignment B) Use a random sample C) Manipulate a variable D) All of the above E) A & B only F) A & C only 9. In the early 1900s, Ford sold only one car to everybody, called the “Model T.” Today, you can go to the ford website and practically design your own car. The first is an example of ________________ and the second is an example of _________________. A) Mass marketing; Mass customization B) Goods marketing; Service marketing C) Selling concept; Marketing concept D) Production marketing; Innovative marketing E) Niche marketing; Differentiated marketing
10. Psychographic segmentation involves grouping consumers based on thing like A) Values B) Attitudes C) Lifecycle D) All of the above E) A and B only 11. According to the article “Branding in the Digital Age: You’re Spending Your Money in All the Wrong Places,” which of the following stages of the Decision Journey is becoming increasingly relevant? A) Consider B) Buy C) Evaluate D) Search E) None of the above 12. The study of Consumer Behavior covers the processes involved when A) Consumers select products, services, ideas and experiences B) Consumers purchase products, services, ideas and experiences C) Consumers use products, services, ideas and experiences D) Consumers dispose of products, services, ideas and experiences E) All of the Above
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