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Practice Quiz for Marketing in the 21st Century

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Marketing in the 21st Century - Chapter 2 Practice Quiz

Marketing in the 21st Century - Chapter 2 Practice Quiz

Question 1 of 15

1

Which of the following is not a factor primarily con- trolled by top management?

Select one of the following:

  • Advertising strategy

  • Line of business

  • Role of marketing

  • Overall objectives

Explanation

Question 2 of 15

1

When it is considered important by a firm, marketing is

Select one of the following:

  • equated with sales.

  • given staff status.

  • heavily involved in consumer research.

  • controlled by a production vice-president.

Explanation

Question 3 of 15

1

In selecting a target market, marketers usually

Select one of the following:

  • engage in market segmentation.

  • ignore competitors.

  • control the marketing plan.

  • determine the marketing mix.

Explanation

Question 4 of 15

1

Which of the following is not a form of marketing
organization?

Select one of the following:

  • Coordinated

  • Functional

  • Product-oriented

  • Market-oriented

Explanation

Question 5 of 15

1

Product, price, promotion, and distribution decisions are components of the

Select one of the following:

  • marketing philosophy.

  • marketing protocol.

  • marketing mix.

  • marketing organization.

Explanation

Question 6 of 15

1

Whether to sell via intermediaries or directly to con-
sumers, how many outlets to sell through, and wheth- er to control or cooperate with other channel members are examples of decisions marketers must make about

Select one of the following:

  • selling.

  • production.

  • distribution.

  • price.

Explanation

Question 7 of 15

1

The most effective approach to the uncontrollable fac- tors in the marketing environment is

Select one of the following:

  • constantly reorganizing the marketing organization.

  • product innovation.

  • insulating the marketing plan from them.

  • continuous monitoring of their effects.

Explanation

Question 8 of 15

1

In a monopoly, one firm

Select one of the following:

  • finds that consumer demand is quite elastic.

  • seeks to engage in price wars.

  • has no control over price because merchandise is
    standardized.

  • has a lot of control over the marketing plan.

Explanation

Question 9 of 15

1

Where a few large firms comprise most of an industry’s sales, the competitive structure is best described as

Select one of the following:

  • monopolistic competition.

  • monopoly.

  • oligopoly.

  • competitive monopoly.

Explanation

Question 10 of 15

1

A firm has the least control over its pricing strategy in

Select one of the following:

  • monopolistic competition.

  • pure competition.

  • oligopoly.

  • monopoly.

Explanation

Question 11 of 15

1

Which of these statements is not correct?

Select one of the following:

  • It is necessary to study the competitive strategies
    of other firms.

  • There is now a trend toward larger firms.

  • Pure competition occurs much less often than does
    monopolistic competition.

  • Foreign competitors now play a declining role in
    many industries.

Explanation

Question 12 of 15

1

When a firm defines its competition in generic terms,
it

Select one of the following:

  • focuses on patent expiration dates.

  • analyzes the competitive structure within a specific industry.

  • looks at competition as broadly as possible.

  • examines its existing channel partners.

Explanation

Question 13 of 15

1

Which type of competition most closely resembles generic competition?

Select one of the following:

  • Intermodal competition

  • Bimodal competition

  • Direct competition

  • Indirect competition

Explanation

Question 14 of 15

1

Which statement about technology is true?

Select one of the following:

  • Small firms can control the technological advances that affect them.

  • Technology cannot reduce the impact of resource shortages.

  • Loss of patent protection decreases competition.

  • Patents provide exclusive rights to sell new prod-
    ucts for virtually limited time periods.

Explanation

Question 15 of 15

1

To attain its objectives, a firm is well advised to

Select one of the following:

  • acquire feedback from the environment.

  • maintain its existing strategies at all costs.

  • ignore uncontrollable factors.

  • bypass the independent media entirely.

Explanation

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