Mkt 421 Final Exam

2821 WordsNov 21, 201212 Pages
1) According to the text, marketing means: A. Selling. B. Much more than selling and advertising. C. Producing and selling. D. Advertising. 2) 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. A production activity. B. One of the universal functions of innovation. C. An example of the micro-macro dilemma. D. A part of marketing. 3) Which of the following statements best describes the modern view of marketing? A. Marketing should take over production, accounting, and financial services within a firm. B. The job of marketing is to get rid of whatever the company is producing. C. Marketing is…show more content…
C. How different marketing mixes (for different target markets) relate to each other. D. All of these. 16) Marketing strategy planners should recognize that: A. Large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets. B. Target marketing is not limited to small market segments. C. Mass marketing is often very effective and desirable. D. Target markets should not be large and spread out. 17) Target marketing, in contrast to mass marketing, A. Ignores markets that are large and spread out. B. Focuses on fairly homogeneous market segments. C. Assumes that all customers are basically the same. D. Is limited to small market segments. 18) Good marketing strategy planners know that: A. Mass marketing is often very desirable and effective. B. The terms mass marketing and mass marketer mean basically the same thing. C. Target marketing does not limit one to small market segments. D. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets. 19) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. A. Mass marketing B. Market positioning C. Diversification D. Market segmentation 20) Clustering techniques applied to segmenting markets A. Usually require

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