Reference no: EM132291718
1. Marketing discovers consumer needs by
A. using the marketing program.
B. using the 4 Ps.
C. using extensive research.
D. advertising.
E. promotion.
2. One or more specific groups of potential consumers toward which an organization directs its marketing program is a
A. mass market.
B. tangent market.
C. market aggregation.
D. target market.
E. promotional market.
3. Which of the following groups would be the most likely target market for the Toyota Highlander fuel hybrid SUV?
A. young single people
B. people concerned with fuel efficiency
C. people who want to drive SUVs
D. people who want to drive fuel-efficient SUVs
E. retirees
4. The four Ps of the marketing mix are
A. personnel, priorities, placement, and profits.
B. promotion, product, personnel, and place.
C. product, place, production, and promotion.
D. product, promotion, price, and place.
E. profitability, productivity, personnel, and packaging.
5. The element of the marketing mix demonstrated when a company places an ad in the Yellow Pages is
A. product.
B. price.
C. promotion.
D. place.
E. process.
6. __________ is the reward to a business firm for the risk it undertakes in marketing its offerings.
A. Shareholders' equity
B. Profit
C. Inventory turnover
D. Contribution margin
E. Asset leverage
7. A nongovernmental organization that serves its customers but does not have profit as an organizational goal is called a
A. business firm.
B. nonprofit organization.
C. community action program.
D. manufacturing agent.
E. cooperative.
8. __________ is the money left over after a business firm's total expenses are subtracted from its total revenues.
A. Shareholders' equity
B. Profit
C. Inventory turnover
D. Contribution margin
E. Asset leverage
9. Which statement best describes the most significant difference between a business firm and a nonprofit organization?
A. Business firms operate with larger budgets than nonprofits.
B. Nonprofit organizations do not carry on economic activities, and business firms do.
C. Nonprofit organizations are concerned with social issues, and business firms are not.
D. Both serve customers, but business firms seek a profit while nonprofit organizations do not.
E. Nonprofit organizations are publicly owned, and business firms are not.
10. An organization's __________ are the fundamental, passionate, and enduring principles that guide its conduct over time.
A. core values
B. missions
C. culture
D. goals
E. strategies
11. Often used interchangeably with "vision" a __________ statement frequently has an inspirational theme.
A. point of difference
B. mission
C. business map
D. internal situation analysis
E. foundation
12. The __________ for Lucent Technologies is "To use our unique capabilities to ensure that our customers thrive, our business grows, and we enrich the personal communications experience for people around the world."
A. benefit statement
B. business statement
C. functional philosophy
D. mission
E. organizational culture
13. George Zimmer the CEO of Men's Wearhouse is known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring, "I Guarantee it!" He also says that to be successful, "You've got to have a company that starts with trust and fairness." He aims to keep his employees happy and loyal. His philosophy sets the
A. corporate confirmation.
B. benefits statement.
C. organizational culture.
D. corporate profile.
E. business edge.
14. A new company projects that its sales will be greater than its expenses within the first year of operation. This is an example of which type of goal?
A. profit
B. sales revenue
C. market share
D. unit sales
E. quality
15. Apple recently introduced the iPhone to great fanfare. Many corporate users have found that it does not sync with their servers, thus not allowing users to download from his or her company email account. When the phone was introduced, many users could not immediately activate the phone. Based on these examples, it would seem that Apple should have adopted more stringent __________ goals prior to releasing the iPhone.
A. technology
B. innovation
C. quality
D. service
E. satisfaction