Marketing Quiz Questions and Answers

1- If you ask the average person, “What is marketing?,” one of the things you might hear is

a. Marketing is sales and advertising. (2 points)

b. Marketing is fun.

c. Marketing is the backbone of all business.

 d. Marketing is not profitable.

2- Marketers try to figure out what want and then they try to figure out how to provide it and make money doing so. (2 points)

a. Business owners

b. Customers

c. Advertisers

d. Companies

3- Which of the following is defined to be an exchange between a firm and its customers? (2 points)

a. Advertising

b. Consumer behavior

c. Marketing

d. Finance

4- When the company's mind-set was, "Let's build a better mouse trap," marketers were focused on. (2 points)

a. Product.

b. Promotion.

c. Price.

d. Place.

5- Define marketing’s exchange relationship. (4 points)

 
6- List and describe the 4Ps. (4 points)

7- During the phase of the purchase process, the customer identifies that something is lacking. (2 points)

a. Purchase

b. Pre-purchase

c. Post purchase

d. Final

8- Whether the buyer is a consumer or a business, the buying process is (2 points)

a. Consistent.

b. Inconsistent.

c. Exhausting.

d. Simple.

9- What is a classic marketing exercise that is used to declare that one’s own food or drink product is superior to the market leader? (2 points)

a. Blind smell tests

b. Blind taste tests

c. Advertising recognition test

d. Blind feel tests

10- Describe the three phases of the purchase process using an example of your choice to illustrate the three phases. (4 points)

11- Describe how visual stimuli are important to marketers and explain how colors are involved.  (4 points)

 
12- List the five levels of Abraham Maslow’s hierarchy of needs. List from the lowest needs to the highest and include examples for each level. (4 points)

13- Company ABC is interested in better understanding how different groups of customers feel about its product. In order to do this, Company ABC will need to.(2 points)

a. Position its product in the market.

b. Segment the market.

c. Mass market.

d. Target market.

14-Means that all customers are treated the same. (2 points)

a. One-to-one marketing

b. Gender marketing

c. Group marketing

d. Mass marketing

15- The contrast between mass marketing and one-to-one marketing illustrates that segments become more as they increase in size. (2 points)

Question 2

a. Heterogeneous

b. Favorable

c. Homogeneous

d. Unfavorable

16- A popular tool for segmenting that uses psychographic data, and that is based on the belief that one’s attitudes and value system determine one’s orientation to certain products and/or brands is called (2 points)

a. Experian.

b. VALS.

c. Mals.

d. Prizm.

17. Why is it not advisable to target an entire market with a new product offering? Give examples. (4 points)

18- Explain why many segmentation schemes fail. (4 points)

19-  Marketers try to serve the segments whose needs match their and in doing so hope to make very happy and loyal customers who will be very profitable. (2 points)

a. Abilities to deliver

b. Opportunities

c. Financial resources

d. Targets

20-  Regarding targeting, we iterate between our  vision of corporate strategy, and adata-informed approach on segment size and profitability. (2 points)

a. Top-down, bottom-up

b. Bottom-up, top-down

c. Horizontal, vertical

d. Vertical, horizontal

21- Potential profitability is a function of (2 points)

a. Current market price.

b. The market's anticipated growth.

c. Product development history.

d. The number of products made.

22- Opportunities and threats are usually driven by changes in one of the (2 points)

a. 5Cs.

b. 4Ps.

c. 3Ds.

d. 4Es.
 
23- Based on this chart, which segment can we pass up with the fewest regrets?  (4 points)

a. 1

b. 2

c. 3

d. 4

24- How do marketers estimate the size of a market? Explain. (4 points)

25- In analyzing perceptual maps, one question always on the marketer's mind is: (2 points)

a. Is my brand optimally segmented?

b. Is my brand experiencing holes?

c. Is my brand targeted correctly?

d. Is my brand optimally positioned?

26- Which of the following is NOT true according to this perceptual map? (4 points)
 
a. Customers view Lexus and Lincoln as the most interchangeable of the brands.

b. The Tesla and Prius are not competing with each other.

c. People in segment 1 prefer Tesla or Prius to Lincoln or Lexus.

d. People in segment 2 seek nice luxury at inexpensive prices.

27- Which of the following combinations should be avoided? (2 points)

a. Low price and low quality

b. High price and high quality

c. Heavy promotion and low (exclusive) availability

d. Heavy promotion and high availability

28- Which of the following positioning combinations makes the most sense? (2 points)

a. Low price, low quality, exclusive availability, heavy promotions

b. High price, low quality, exclusive availability, heavy promotions

c. Low price, high quality, exclusive availability, light promotions

d. Low price, low quality, widely available, heavy promotions

 
29- What is positioning, and why is it probably the most important aspect of marketing? (4 points)

30- Identify and describe the three basic corporate strategies for creating value and achieving market stature. (4 points)

31- Marianne is shopping for a new car. Which of the 4Ps is most central to her purchase? (2 points)

a. Price

b. Promotion

c. Place

d. Product

32- Orbitz, a travel-planning company, offers low-price tickets on flights because (2 points)

a. It is in competition with airlines.

b. This is something that benefits customers.

c. It accepts a low margin.

d. Its business model is based on promotions.

33- Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might their strategies differ?   (2 points)

a. They don’t, their strategies would be the same.

b. Marketer 1 has a tangible product, white marketer 2 has an intangible product.

c. Marketer 1 would focus more on price than marketer 2.

d. Marketer 2 would focus more on promotion than marketer 1.

34- What qualities are those attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings. (2 points)

a. Credence

b. Experience

c. Search

d. Product

35- What are the questions that arise during the marketing exchange? Make sure to give examples from each side of the exchange. (4 points)

36- Explain the differences in the three types of qualities associated with goods and services. (4 points)