4.01
49.Secondary sources such as census reports, other government publications, trade magazines, or chambers of
commerce are excellent sources for obtaining information about
A. target markets.
C. demographics.
B. competing products.
D. business personnel.
IM:182/.0009
50. Businesses often ask for the customer's zip code at the checkout counter to obtain immediate information
about
A. how often customers visit the business.
B. a geographic area for a direct-mail campaign.
C. how much customers can pay for products.
D. the average age of customers.
IM:182/.0010
51.Knowing where customers are located can help a business decide
A. which prices are the most popular.
C. how much inventory to stock.
B. how to package products.
D. which distribution channels to use.
IM:182/.0011
52. Which of the following is an important aspect to consider when a business begins to assess its marketing
information needs:
A. Government
C. Production
B. Competition
D. Technology
IM:182/.0012
53. When assessing marketing-information needs, the first step that a business should take is to
A. select the research tools.
C. identify the issue or problem.
B. analyze the results.
D. conduct primary research.
IM:182/.0013
54. By maintaining marketing information systems, sport/event organizations can estimate demand and identify
market trends by tracking buying behavior and
A. analyzing consumption patterns.
C. tabulating quotients.
B. establishing standards.
D. qualifying distribution channels.
IM:252/.0014
55. Sport/Event organizations maintain marketing information systems to be able to
A. identify and respond to customer needs.
C. print and distribute season tickets.
B. develop a wide range of databases.
D. modernize old and outdated facilities.
IM:252/.0015
4.02
56.Which of the following sport/event situations is most likely to have a negative economic impact on a local
community:
A. New college football stadium is being built
C. A popular musical group comes to town
B. Professional baseball players go on strike
D. Golf tournament organizers solicit
volunteers
NF:187/.0020
57. Which of the following indicates a positive economic impact for a city that hosts a professional golf tournament:
A. Higher restaurant sales
C. Increased traffic congestion
B. Fewer hotel reservations
D. Decreased tax revenues
NF:187/.0021
58.Why do sport/event organizations maintain sales and accounting records?
A. To measure economic impact
C. To calculate salary information
B. To prepare promotional material
D. To determine household income
NF:187/.0094
4.03
59.To make sure that all tasks have been completed and an event is ready for attendees, sport/event marketers
might refer to their
A. guest list.
C. function sheets.
B. production checklist.
D. inventory agenda.
PM:146/.0076
60. One way to verify that a complex arena event is well prepared and ready for spectators is by
A. holding a rehearsal.
C. developing an event checklist.
B. identifying audio needs.
D. reading the scripted elements.
PM:146/.0077
4.04
61. Entertainment marketers should identify their target markets after they have carefully examined
A. past ticket sales records for similar events.
B. available data and research about the segment.
C. retired people with discretionary income.
D. customized products that fit the needs of the market.
MP:036/.0016
62. One aspect of identifying a segment of a sport/event target market involves identifying the
A. regional trends.
C. heavy users.
B. sales forecasts.
D. new vendors.
MP:036/.0017
63. Which of the following factors should event marketers consider when identifying target markets for specific
events:
A. Behavior
C. Attitude
B. Culture
D. Character
MP:036/.0018
64.What is one question that a business must answer when identifying a potentially profitable target market?
A. What is the reach and frequency of the advertising medium?
B. Does the product have form utility?
C. What are monthly variable expenses?
D. Is the market responsive?
MP:005/.0022
65. Which of the following situations is an example of a business using niche marketing:
A. A chemical manufacturer offers a line of hand soap that contains an antibacterial agent.
B. A national petroleum company offers credit cards for use at its gas and service stations.
C. An athletic footwear company produces a line of shoes for children who play soccer.
D. A soft-drink manufacturer advertises its product during a national television broadcast.
MP:005/.0023
66. When a business selects a target market, the most useful or desirable market segments to the business are
those that are measurable and
A. concentrated.
C. accessible.
B. undifferentiated.
D. inflexible.
MP:005/.0024
67. Which of the following statements is true regarding niche marketing:
A. Marketers tend to consider broad focus to meet the needs of the niche.
B. Market segments are subgroups of niche markets.
C. Niche marketers do not often customize their offerings.
D. Niche markets are small and may attract a few competitors.
MP:005/.0025
68. When the Green Company selected its target market, it decided to ignore the segment differences and
generate appeal with one offer. The company is using __________ marketing.
A. isolated
C. individual
B. niche
D. mass
MP:005/.0026
4.05
69. Which of the following is a factor that businesses often consider when conducting a market analysis:
A. Location of the test market
C. Safety of the research process
B. Size of the market next year
D. Design of the questionnaire
MP:009/.0027
70. Businesses usually analyze market potential for a certain product by considering total demand in a specific
A. research sample.
C. geographical area.
B. day of the week.
D. social situation.
MP:009/.0028
71. When conducting a market analysis, a business considers the total possible demand for a product which is
known as the
A. market potential.
C. target market.
B. sales growth.
D. supply factor.
MP:009/.0029
72. One of the purposes of conducting a market analysis is to develop a(n)
A. management team.
C. operating budget.
B. distribution plan.
D. customer profile.
MP:009/.0030
73. As part of its market analysis, the SVM Company estimates the increases in demand for its products over a
set time frame for a particular market segment. The SVM Company is attempting to analyze the market's
A. size.
C. performance.
B. growth rate.
D. profitability.
MP:009/.0031
74. Which of the following is an internal strength that a business might identify during a SWOT analysis:
A. Limited competition
C. Increased expenses
B. Extensive regulations
D. Financial resources
MP:010/.0032
75. SWOT analysis is a technique for summarizing a company's
A. strengths, weaknesses, opportunities, and threats.
B. skills, workers, organizations, and teams.
C. strategy, wholesalers, objectives, and trademarks.
D. store, warranty, occupations, and tariffs.
MP:010/.0033
76. What is a potential weakness a manager might identify in a SWOT analysis?
A. Competitors failing
C. Lack of management depth
B. High-quality products
D. Low-cost foreign competition
MP:010/.0034
77. What is a potential threat a manager might identify in a SWOT analysis?
A. Economy rebounding
C. Weak market image
B. Growing government regulation
D. Cost advantages
MP:010/.0035
78. Once a SWOT analysis identifies an internal strength, a business can use that strength to take advantage of
a(n)
A. operating procedure.
C. marketing strategy.
B. external opportunity.
D. promotional technique.
MP:010/.0036
79. A SWOT analysis indicates that customers' buying preferences are changing, but the business has a very
limited product line. This is an example of an
A. internal weakness compensating for an external threat.
B. internal strength responding to an external threat.
C. external threat attacking an internal weakness.
D. external opportunity coinciding with an internal strength.
MP:010/.0037
80. Which of the following is a factor that new businesses consider when conducting an analysis of competitors in
a specific market:
A. Product quality and price
C. Cost of supplies and equipment
B. Size and availability of space
D. Industry research and training
MP:012/.0038
81. If a firm discovers a competitor's weakness when it is conducting a competitive analysis, the firm has often
uncovered a(n)
A. ethical disadvantage.
C. marketplace opportunity.
B. internal threat.
D. product liability.
MP:012/.0039
82. By conducting a competitive analysis, businesses often are able to determine if they have a
A. competitive advantage.
C. promotional plan.
B. target market.
D. security problem.
MP:012/.0040
83. Which of the following is an activity that a business performs when conducting a competitive analysis:
A. Sets productivity goals
C. Calculates economic data
B. Monitors rivals' marketing strategies
D. Develops selling procedures
MP:012/.0041
84
One way that a business can learn about its competitors' activities is by
A. evaluating Intranet efficiencies.
C. developing product specifications.
B. reviewing secondary data.
D. identifying communication barriers.
MP:012/.0042
85. When forecasting sales for marketing plans, businesses often rely on
A. supplier data.
C. research information.
B. general statistics.
D. operating reports.
MP:014/.0043
86. What do businesses often take into consideration when forecasting sales for marketing plans?
A. Company's profit goals
C. Location of regional territories
B. Quotas for salespeople
D. Competitors' market share
MP:014/.0044
87. Forecasting sales for marketing plans is important because the forecast is used as a
A. standard of measurement.
C. method of communication.
B. type of research.
D. compilation of data.
MP:014/.0045
88.The MKO Company projects that sales will increase from $675,900 this year to $736,731 next year. What is the
forecasted percentage of sales increase?
A. 9.75%
C. 9%
B. 8.25%
D. 8.5%
MP:014/.0046
89. A business asks its customers about the types and amounts of products that they plan to purchase in the next
12 months. What is the business using to help forecast sales?
A. Market-factor analysis
C. Survey of buyer intentions
B. An attitude survey
D. Customer-positioning analysis
MP:014/.0047
90. In which of the following situations should a business consider its competitors' prices when developing a
marketing plan:
A. Selecting a new supplier
C. Introducing a new product
B. Organizing a new division
D. Analyzing a new database
MP:018/.0048
91. In which of the following situations might a business decide that the cost of implementing a marketing plan for
a specific product is much greater than the financial benefits:
A. Advertising rates are increasing slightly.
B. Level of profitability will remain the same.
C. Two competitors have 65% of current market share.
D. Target market buys $500,000 worth of product each year.
MP:018/.0049
92. An important step in the process of developing a marketing plan involves selecting the
A. distribution agent.
C. sales force.
B. target market.
D. research strategy.
MP:018/.0050
93. The marketing strategy component of a marketing plan should include a(n)
A. proposed annual budget.
C. detailed product description.
B. explanation of accounting methods.
D. list of current employees.
MP:018/.0051
94. The marketing objectives that a business develops for its marketing plan should lead to a(n)
A. increase in prices.
C. decrease in costs.
B. increase in sales.
D. decrease in taxes.
MP:018/.0052
95. When a business develops a marketing plan, the objectives should be timely, measurable, and
A. general.
C. serviceable.
B. attainable.
D. impulsive.
MP:018/.0053
4.06
96.Business owners can evaluate the effectiveness of their marketing activities by comparing the original allocation of
resources with the
A. operating expenses.
C. fixed costs.
B. rate of depreciation.
D. return on investment.
MP:022/.0054
97. When monitoring its marketing activities, a business might need to take corrective action if
A. sales marginally exceed goals.
C. market trends remain consistent.
B. economic conditions change.
D. service levels are satisfactory.
MP:022/.0055
98. A business that continuously monitors its marketing plan should take corrective action when its
A. output is equivalent to product demand.
B. sales objectives are met for three consecutive months.
C. performance does not meet the established standards.
D. competitors are not meeting their quotas.
MP:022/.0056
99. When evaluating the performance of a marketing plan, what might a business do if performance fails to
achieve the objectives?
A. Analyze the situation
C. Develop a mission statement
B. Revise the sales forecast
D. Blame the competition
MP:022/.0057
100. Which of the following is a question that a business should ask when evaluating the performance of its
marketing plan:
A. Is it feasible to expand the business?
C. Are the objectives being achieved?
B. Are the purchasing policies appropriate?
D. Is the record-keeping system efficient?
MP:022/.0058