INTRODUCTION TO MARKETING MID TERM SAMPLE EXAM Please select the correct choice:

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INTRODUCTION TO MARKETING
MID TERM SAMPLE EXAM
Please select the correct choice:
1. You are in charge of the marketing program for a consumer electronics company. You
have been asked to think about developing a plan that will allow the firm to grow by at
least 10% in sales each year for the next five years. Prior to developing these plans you
should consider which of the following forces in your planning process?
A) Economic environment
B) Technological environment
C) Competitive environment
D) Social environment
E) All of the above
ANSWER: E
2. Why do firms segment markets?
A) Segmentation can help a firm respond more effectively to the wants of prospective
buyers.
B) Segmentation can help an organization meet its goals.
C) Segmentation can identify opportunities for increased sales and profits.
D) All of the above.
E) None of the above.
ANSWER: D
3. Hershey's chocolate bars have been marketed in the United States for more than 100
years, and are still a tremendous success, with a loyal following of consumers. The
company began advertising several years ago to hold its market share, and it has
introduced several distinctive new products. What stage of their product life cycle are
Hershey's chocolate bars in?
A) development
B) introduction
C) growth
D) maturity
E) decline
ANSWER: D
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4. You decide to buy 17 new stoves at a list price of $750 each as replacements for old
stoves in an apartment complex you own. Quantity discounts are available: 1 to 5 units =
$50/unit; 6 to 10 units = $100/unit; 11 to 20 units = $150/unit; 21 units and more =
$200/unit. Financing charges until you complete payments in 6 months is $20/unit. You
get $10/stove for the 17 stoves you trade in. What is the actual price you will pay for each
stove?
A) Under $600
B) $600 to $650
C) $651 to $700
D) $701 to $750
E) None of the above
ANSWER: B
5. Trade between a buyer and a seller of things of value so that each is better off after the
trade than before is termed:
A) exchange.
B) needs assessment.
C) consumerism.
D) utility.
E) a fair deal.
ANSWER: A
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