Step of marketing research procedure

 

MRKT 200.01 (Fall 20) QUIZ 1

 

 

True or False

 

TF    1. The last step of marketing research procedure is making the right decision.

TF   2.  Target Markets are the brands customer target for purchase due to their high quality.

T      F   3.  The 4 elements of the marketing mix are production, pricing, distribution and promotion.

T      F   4.  A person can be a product to be marketed.

T      F   5. Customer value is calculated as the price paid for a product or service.

T      F   6. Marketers need to realize that the value of a product or service is equal among all

                  customers, as reflected by the price.

 

T      F   7. The marketing concept is defined as meeting or exceeding marketing objectives.

T      F   8. Students are among the stakeholders of a university.

T      F  9. Social Marketing these days refers to marketing products through social media.

T      F  10. Green Marketing is marketing Agricultural products.

T      F  11. In the Growth Share matrix, a star is always more profitable than a cash cow.

T     F   12.  Sales orientation in the evolution of marketing aimed at maximizing sales volume.

T      F  13. In the Arab World, financial incentives are always more effective in motivating employees

                   to work harder than nonfinancial incentives.

 

T      F  14.  Marketers can control the Macro marketing environment through observation and

                   research.

T      F   15. The competition between McDonalds and Burger King is Generic Competition.

T      F  16. According to class presentation, the Media and Demographics are elements of the Macro   

                   marketing environment.

 

TF  17. All rich people are big spenders. 

T      F  18. In the long run, ethical practices and social responsibility result in lower profitability for

                   most corporations.

T      F  19. If you are a millionaire and spend 98 % of your income on luxury housing, transportation

                   and food, then you are considered to have high amount of discretionary income.

T      F  20. Marketers can control the Micro Marketing environment through communications and

                   coordination.

T      F  21. The market for new branded cars in Kuwait can be characterized by Monopoly.

T      F  22. The market for Smart phones can be characterized as Oligopoly.

T      F   23. You can be poor in income, and rich in wealth.

T      F  24. Marketing skills are needed by all professions, including medical doctors and engineers.

T      F  25. In strategic planning, SWOT analysis is also called situation analysis.

 

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