MK Exam 1 UPDATED Actual Exam Questions and CORRECT Answers
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MK Exam 1 UPDATED Actual Exam
Questions and CORRECT Answers
A detailed plan for handling transportation and storage of a new product that is now being
distributed to wholesalers nationwide is an aspect of which part of the "Four Ps"?
Product
Promotion
Place
Price - CORRECT ANSWER- Place
W...
MK Exam 1 UPDATED Actual Exam
Questions and CORRECT Answers
A detailed plan for handling transportation and storage of a new product that is now being
distributed to wholesalers nationwide is an aspect of which part of the "Four Ps"?
Product
Promotion
Place
Price - CORRECT ANSWER✔✔✔✔- Place
Which of the following statements about the universal functions of marketing is false?
Who performs the functions may differ among nations and economic systems.
How the functions are performed may differ among nations and economic systems.
These functions do not have to be performed in all macro-marketing systems.
These functions help to overcome discrepancies of quantity and assortment. - CORRECT
ANSWER✔✔✔✔- These functions do not have to be performed in all macro-marketing
systems.
Which of the following is one of three basic marketing management jobs?
All these answers are correct.
controlling the plans in actual operation
planning marketing activities
directing the implementation of plans - CORRECT ANSWER✔✔✔✔- All these answers are
correct.
The packaging design for a new flavor of Ben and Jerry's ice cream is an aspect of which
component of the marketing mix?
Promotion
People
Product
Price
Place - CORRECT ANSWER✔✔✔✔- Product
,The following article titles are from Business Week magazine. Which article is most likely to
be reporting on a macro-marketing topic?
"Donations to Tsunami Victims Fund Increase after TV Broadcast"
"Russia Increases Output of Consumer Goods"
"Bank of America Offers New Internet Banking Services"
"Two-Person Engineering Firm Offers Unique Service"
"Pepsi Sells in Japan" - CORRECT ANSWER✔✔✔✔- "Russia Increases Output of
Consumer Goods"
Explanation
The role of a macro-marketing system is to effectively match the heterogeneous supply and
demand and at the same time accomplish society's objectives. The other alternatives deal with
individual firms.
The fact that many Americans want the convenience of driving gas-guzzling trucks and sport
utility vehicles that also contribute disproportionately to pollution and global warming is an
example of
marketing ethics.
the marketing concept.
the responsibilities of the marketer.
the micro-macro dilemma.
discrepancies in customer value. - CORRECT ANSWER✔✔✔✔- the micro-macro dilemma.
The owner of the new Sharp Scissors hair salon gave coupons to potential customers walking
by her store to stimulate interest and offer a trial of her new hair salon. The coupons are an
example of
publicity.
sales promotion.
a channel of distribution.
advertising.
Media. - CORRECT ANSWER✔✔✔✔- sales promotion.
, In a market-directed economy,
all the important economic decisions are made by voters in political elections.
consumers make all the important economic decisions.
government planners make all the important economic decisions.
the individual decisions of the many producers and consumers make the macro-level
decisions for the whole economy.
marketing managers make all the important economic decisions. - CORRECT
ANSWER✔✔✔✔- the individual decisions of the many producers and consumers make the
macro-level decisions for the whole economy.
Differentiation refers to the ________ of the firm's marketing mix to meet the needs of the
target market.
willingness
unsuitability
adaptability
similarity
uniqueness - CORRECT ANSWER✔✔✔✔- uniqueness
Explanation
Differentiation means that the marketing mix is distinct from and better than what is available
from a competitor. This means its marketing mix is unique.
When developing a marketing mix, a marketing manager should remember that
"Price" includes markups, discounts, allowances, and geographic terms.
a channel of distribution includes at least one intermediary.
"Product" includes physical goods but not services.
customers' needs are all the same.
"Promotion" includes only personal selling and publicity - CORRECT ANSWER✔✔✔✔-
"Price" includes markups, discounts, allowances, and geographic terms.
Explanation
A manager must know current practices as to markups, allowances, discounts, and other
terms of sale while developing a marketing mix. These practices are part of Price.
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