MCS1000 Final Exam Questions with
complete solution
Which of the following is NOT part of a marketing exchange?
a) sellers provide products or services
b) sellers communicate and facilitate delivery
c) marketers access the effectiveness of their advertising
d) buyers complete the exchange by giving money and information to the
seller - correct answer ✔c) marketers access the effectiveness of their
advertising
promotion is _____________ by a marketer that informs, persuades, and
reminds potential buyers about a product or service to influence their opinions
or elicit a response
a) smoke-and-mirrors
b) coercion
c) teasing
d) communication - correct answer ✔d) communication
What must firms do to become value driven?
a) share information, balance benefits and costs, and build customer
relationships
b) set low prices, put profit above service, and use effective marketing
strategies
c) make logistics a priority, expand globally, and always offer new goods and
services
d) keep a vigilant eye on the market-place, undercut competitors, and provide
competitive salaries - correct answer ✔a) share information, balance benefits
and costs, and build customer relationships
,1. What customers will we serve?
2. How can we best serve these customers? - correct answer ✔1. target
market
2. value proposition
Which of the following would NOT be considered part of a supply chain?
a) consumer
b) retailer
c) manufacturer
d) customer service representative - correct answer ✔d) customer service
representative
What is sustainable competitive advantage?
A) A broad description of the firm's objectives and scope of its activities.
B) Tool used to evaluate marketing performance.
C) Something the firm can consistently do better than its competitors, not
easily copied.
D) Written document that discusses competitor strengths and weaknesses,
and the firms advantages over them.Test Your Knowledge - correct answer
✔C) Something the firm can consistently do better than its competitors, not
easily copied.
Customer excellence focuses on?A) having products with high perceived
value and effective branding and positioning.
B) develops value-based strategies for retaining loyal customers and
providing excellent customer service.
C) having a good physical location and Internet presence.
, D) efficient operations and excellent supply chain and human resource
management - correct answer ✔B) develops value-based strategies for
retaining loyal customers and providing excellent customer service.
Which of the following refers to a group of consumers who respond similarly to
a firm's marketing efforts?
A) Market segment
B) Target market
C) Targeting
D) Positioning - correct answer ✔A) Market segment
One of the keys in place and value delivery is to provide the consumer
_______________.
A) a wide product selection
B) merchandise they want at the time they want it
C) a variety of media communication methods
D) accessible management personnel to handle complaints - correct answer
✔B) merchandise they want at the time they want it
Which of the following is NOT considered a marketing growth strategy?
A) Market penetration
B) Diversification
C) Product development
D) Sequential planning - correct answer ✔D) Sequential planning
A diversification strategy introduces a new product or service to a market
segment that _______________.
A) is currently not served
complete solution
Which of the following is NOT part of a marketing exchange?
a) sellers provide products or services
b) sellers communicate and facilitate delivery
c) marketers access the effectiveness of their advertising
d) buyers complete the exchange by giving money and information to the
seller - correct answer ✔c) marketers access the effectiveness of their
advertising
promotion is _____________ by a marketer that informs, persuades, and
reminds potential buyers about a product or service to influence their opinions
or elicit a response
a) smoke-and-mirrors
b) coercion
c) teasing
d) communication - correct answer ✔d) communication
What must firms do to become value driven?
a) share information, balance benefits and costs, and build customer
relationships
b) set low prices, put profit above service, and use effective marketing
strategies
c) make logistics a priority, expand globally, and always offer new goods and
services
d) keep a vigilant eye on the market-place, undercut competitors, and provide
competitive salaries - correct answer ✔a) share information, balance benefits
and costs, and build customer relationships
,1. What customers will we serve?
2. How can we best serve these customers? - correct answer ✔1. target
market
2. value proposition
Which of the following would NOT be considered part of a supply chain?
a) consumer
b) retailer
c) manufacturer
d) customer service representative - correct answer ✔d) customer service
representative
What is sustainable competitive advantage?
A) A broad description of the firm's objectives and scope of its activities.
B) Tool used to evaluate marketing performance.
C) Something the firm can consistently do better than its competitors, not
easily copied.
D) Written document that discusses competitor strengths and weaknesses,
and the firms advantages over them.Test Your Knowledge - correct answer
✔C) Something the firm can consistently do better than its competitors, not
easily copied.
Customer excellence focuses on?A) having products with high perceived
value and effective branding and positioning.
B) develops value-based strategies for retaining loyal customers and
providing excellent customer service.
C) having a good physical location and Internet presence.
, D) efficient operations and excellent supply chain and human resource
management - correct answer ✔B) develops value-based strategies for
retaining loyal customers and providing excellent customer service.
Which of the following refers to a group of consumers who respond similarly to
a firm's marketing efforts?
A) Market segment
B) Target market
C) Targeting
D) Positioning - correct answer ✔A) Market segment
One of the keys in place and value delivery is to provide the consumer
_______________.
A) a wide product selection
B) merchandise they want at the time they want it
C) a variety of media communication methods
D) accessible management personnel to handle complaints - correct answer
✔B) merchandise they want at the time they want it
Which of the following is NOT considered a marketing growth strategy?
A) Market penetration
B) Diversification
C) Product development
D) Sequential planning - correct answer ✔D) Sequential planning
A diversification strategy introduces a new product or service to a market
segment that _______________.
A) is currently not served
