Business & Computer Sciences Department
Principles of Marketing– MRKG 1311-CRN:10574
Review Questions (Ch. 1 ,2 &3)
Part One: Select the right Answer for each of the following Questions :
1) Marketing is defined as a social and managerial process by which individuals
and organizations obtain what they need and want through ________.
A) research and development
B) innovation and creativity
C) manufacturing efficiencies
D) value creation and exchange
Answer: D
2) According to the five-step model of the marketing process, which of the
following is the final step in creating value for customers?
A) designing a customer-driven marketing strategy
B) understanding the marketplace and customer needs
C) constructing an integrated marketing program that delivers superior value
D) building profitable relationships and creating customer delight
Answer: D
3) ________ are human needs that are shaped by culture and individual
personality.
A) Necessities
B) Wants
C) Demands
D) Values
Answer: B
4) Which of the following is true with regard to strategic planning?
A) At the corporate level, the company starts the strategic planning process by
determining what portfolio of businesses and products is best for the company.
B) A strategic plan deals with a company's short-term goals.
C) The focus of strategic planning is to define a game plan for long-run survival
and growth.
D) The strategic plan is a statement of an organization's purpose.
Answer: C
5) The collection of businesses and products that make up a company is called
its ________.
A) strategic business unit
B) supply chain
C) strategic plan
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D) business portfolio
Answer: D
6) ________ are low-growth, high-share businesses/products that need less
investment to hold their market share.
A) Stars
B) Cash cows
C) Question marks
D) Dogs
Answer: B
7) Which of the following terms is used to describe the actors and forces outside
marketing that affect marketing management's ability to build and maintain
successful relationships with target customers?
A) marketing environment
B) marketing orientation
C) strategic planning
D) target markets
Answer: A
8) Which of the following is a component of a firm's microenvironment?
A) customer demographics
B) economic recessions
C) population shifts
D) marketing intermediaries
Answer: D
9) ________ provide the resources needed by a company to produce its goods
and services.
A) Retailers
B) Marketing services agencies
C) Resellers
D) Suppliers
Answer: D
10) Which of the following situations is expected to enhance the use of targeted
advertising messages by marketers?
A) increase in derived demand in the market
B) increase in ethnic populations
C) rising global inflation rates
D) inadequate quality control
Answer: B
Part Two: Put (  ) for the True & ( × ) for the False Phrase :
1- Marketing is managing profitable customer relationships.
Answer: TRUE
2- Human needs are shaped by culture and individual personality.
Answer: FALSE
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3- The difference between human needs and wants is that needs are not
created by marketers.
Answer: TRUE
4- The purpose of strategic planning is to find ways in which your company
can best use its strengths to take advantage of attractive opportunities in
the environment.
Answer: TRUE
5- At Trader Joe's, our mission is to provide all our customers the best food
and beverage values to be found anywhere, and the information to make
informed buying decisions." This is a product-oriented business
definition.
Answer: FALSE
6- A company's mission could appropriately be stated as "making more sales or
profits."
Answer: FALSE
7-The microenvironment consists of larger societal forces that affect a
company, such as demographic, economic, political, and cultural forces.
Answer: FALSE
8-Marketing success requires building relationships with other company
departments, suppliers, marketing intermediaries, competitors, various publics,
and customers, which
combine to make up the company's value delivery network.
Answer: TRUE
9- The aim of the entire value delivery network is to serve target customers and
create strong relationships with them.
Answer: TRUE
10- Business markets buy goods and services for further processing or for use in
their production processes.
Answer: TRUE
Part Three: Define the Following Terminologies:
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Marketing.
Marketing- Mix.
Strategic Planning.
The Business Portfolio.
Cultural Environment.
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Part Four: Analytical Thinking:
1- Define marketing and outline the steps in the marketing process.
2- : Explain company-wide strategic planning and its four steps
3- Describe the environmental forces that affect the company's ability to serve
its customers.
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