POM QUIZ REVIEWER

Question 1

Defines as social and managerial process by which individuals and organizations obtain what they need and what the want

Answer 1

Marketing

Question 2

all of following are accurate descriptions of modern marketing, EXCEPT which one?

Answer 2

Selling and advertising are synonymous with marketing

Question 3

Can be offered to a market for attention

Answer 3

Product

Question 4

Form of product that consists of activities, benefits, or satisfactions

Answer 4

Service

Question 5

Human needs as shaped by individual personality and culture

Answer 5

Wants

Question 6

Backed by buying power

Answer 6

Demands

Question 7

Five step marketing process

Answer 7

The first four only

Question 8

Final step in the marketing process

Answer 8

Capturing value from customers

Question 9

Focuses on personal selling

Answer 9

Sales orientation

Question 10

Following statements are correct

Answer 10

S1 and S2

Question 11

Following is incorrect

Answer 11

Mission statement is the long term picture of the company

Question 12

Evaluating the stakeholders close to the company

Answer 12

False

Question 13

Directed to study the demographic, economic, natural…

Answer 13

True

Question 14

Strategic planning helps the company to reach its tactical plans

Answer 14

False

Question 15

They lack enough information of the right kind

Answer 15

True

Question 16

Assess information needs

Answer 16

False

Question 17

Process of planning, collecting, and analyzing data

Answer 17

True

Question 18

Systematic design, collection, interpretation and reporting information

Answer 18

True

Question 19

Steps in conducting marketing research

Answer 19

False

Question 20

Having problems with defining the problem

Answer 20

True

Question 21

Concentrate on keeping and improving relationships with existing customers

Answer 21

Relationship Marketing

Question 22

Marketing no longer aims for__

Answer 22

Retention

Question 23

Statements is incorrect

Answer 23

In customer retention, if the product was able to meet customers expectations, they will be satisfied and will order again

Question 24

Strategy or process of building and maintaining profitable customer

Answer 24

Customer relationship management

Question 25

Following statements is incorrect

Answer 25

All customers are worth a company’s marketing efforts

Question 26

Customers who are satisfied to your products will stay

Answer 26

Friends

Question 27

Consumer market is made up of which of the following?

Answer 27

All of the foregoing

Question 28

Sid started to notice certain disadvantages of his new motorcycle

Answer 28

Post purchase dissonance

Question 29

Buyers who consider different factors before making non routinary purchases

Answer 29

Personal consumers

Question 30

Four steps, in order, to designing a customer-driven marketing strategy?

Answer 30

Market segmentation, targeting, differentiation, and positioning

Question 31

Decided to localize its products and services to meet local market demands.

Answer 31

Geographic

Question 32

Caters to clothing, cosmetics, and toiletries markets, it is most likely using which type of segmentation?

Answer 32

Gender

Question 33

Baby boomers share common needs in music and performers.

Answer 33

Target market

Question 34

Targets several segments and designs separate offers for each one.

Answer 34

Differentiated

Question 35

Successful niche marketing relies

Answer 35

Greater knowledge of customers' needs; special reputation

Question 36

Using concentrated marketing

Answer 36

large; one or a few niches

Question 37

Determines a product's position

Answer 37

consumers

Question 38

Advantage by differentiating its products

Answer 38

Competitive

Question 39

Differentiated and positioned.

Answer 39

Value proposition

Question 40

Focuses on several commonalities among all consumers.

Answer 40

Undifferentiated marketing

Question 41

The purpose of idea generation is to create a

Answer 41

Large number; reduce

Question 42

JCO' Donuts has just brainstormed a large number of ideas for adding new products

Answer 42

Idea screening

Question 43

Services are distinguished based on

Answer 43

Tangibility and Intangibility

Question 44

suitability, quality, price, and style.

Answer 44

Shopping products

Question 45

sales fall off and profits drop.

Answer 45

Decline

Question 46

stages in the PLC EXCEPT,

Answer 46

Adoption

Question 47

adds more customer value.

Answer 47

Core Benefit

Question 48

developing and delivering customer

Answer 48

Experiences

Question 49

firm faces a trade-off between high market share and high current profit.

Answer 49

Growth

Question 50

anything that can be offered to a market for attention,

Answer 50

Product

Question 51

only element in the marketing mix that produces.

Answer 51

Revenue

Question 52

customer-oriented approach to pricing

Answer 52

Value-based pricing

Question 53

Pricing is the reverse process of

Answer 53

Cost-based pricing

Question 54

Product costs set a

Answer 54

Direct impact

Question 55

not applicable to all products and can only be utilized under certain market

Answer 55

Market skimming pricing

Question 56

perceives a customer as discounted amount

Answer 56

Psychological pricing

Question 57

Company follows a high-price, high-margin strategy

Answer 57

They will want to compete against canon

Question 58

The simplest pricing method is

Answer 58

Cost-Plus

Question 59

use price less to judge the quality of a product

Answer 59

Have experience with the product

Question 60

adverse effects EXCEPT

Answer 60

Giving pricing secrets away to competitors