Question 1

Which one of the following is NOT a part of the marketing environment?
A) Controllable factors
B) Uncontrollable factors
C) Interest rates
D) Adaptation

Accepted Answer

C

Question 2

Which is a major uncontrollable factor to both the firm and its marketers?
A) Overall objectives
B) Role of other business functions
C) Competition
D) Line of business

Accepted Answer

Competition is considered an uncontrollable factor because firms and marketers cannot control the actions of their competitors, which can significantly impact market dynamics and business performance.

Question 3

A firm monitors uncontrollable factors and evaluates its strengths and weaknesses in
A) feedback.
B) adaptation.
C) control.
D) differential advantage analysis.

Accepted Answer

Feedback involves monitoring uncontrollable factors and evaluating a firm's strengths and weaknesses.

Question 4

In which part of the marketing environment does a firm monitor uncontrollable factors and assess its strengths and weaknesses?
A) Adaptation
B) Corporate culture
C) Feedback
D) Target marketing

Accepted Answer

Feedback involves monitoring external factors that are beyond the firm's control and assessing internal strengths and weaknesses to adapt strategies accordingly.

Question 5

The part of the marketing environment in which an organization plans changes in its marketing plan to reflect a new consumer trend is
A) corporate culture.
B) strategic planning.
C) feedback.
D) adaptation.

Accepted Answer

Adaptation refers to the process where an organization modifies its marketing strategies and plans to accommodate new trends, changes in consumer behavior, or shifts in the market environment. This ensures the organization remains relevant and competitive.

Question 6

After studying its uncontrollable environment, a firm decides to change its pricing strategy. This decision involves
A) feedback.
B) adaptation.
C) marketing myopia.
D) mass marketing.

Accepted Answer

Adaptation involves changing strategies to better fit the external environment, such as adjusting pricing in response to market conditions.

Question 7

Which of the following are parts of a marketer's macroenvironment?
A) A firm's societal environment
B) The capabilities of the firm itself
C) A firm's distributors
D) A firm's pricing strategy

Accepted Answer

The macroenvironment refers to the broader, external forces that affect the operations of a firm, including societal trends, economic conditions, technological changes, and legal and political factors. A firm's societal environment is part of this macroenvironment, encompassing demographics, culture, and social trends that can influence consumer behavior and market demand. The capabilities of the firm itself, its distributors, and its pricing strategy are considered part of the microenvironment, which includes factors within the firm's immediate environment that directly affect its business operations and performance.

Question 8

The elements that are internally directed by a firm and its marketers are known as
A) the marketing mix.
B) controllable factors.
C) marketing strategies.
D) marketing tactics.

Accepted Answer

Controllable factors refer to the elements that a firm and its marketers can directly control, such as product, price, place, and promotion, which are collectively known as the marketing mix. These are internal factors that the company can adjust to meet the needs of its target market.

Question 9

Which of the following is NOT a controllable factor that is directed by top management?
A) Role of marketing
B) Overall objectives
C) Selection of a target market
D) Line of business

Accepted Answer

Selection of a target market is typically a strategic decision involving market research and analysis, which is more directly influenced by marketing teams rather than top management. Top management sets the overall direction, objectives, and business lines, but the specific selection of a target market is often a collaborative effort that involves various departments, including marketing, to ensure the chosen market aligns with the company's capabilities and strategic goals.

Question 10

Which of the following factors is NOT directed by top management?
A) Role of other business functions
B) Role of marketing
C) Determination of the target market
D) The firm's corporate culture

Accepted Answer

Determination of the target market is typically a marketing function, not a direct responsibility of top management.

Question 11

When business managers outline a firm's functions, geographic coverage, and the specific business of the firm, they are detailing the firm's
A) corporate culture.
B) target market.
C) marketing organization.
D) line of business.

Accepted Answer

When business managers detail a firm's functions, geographic coverage, and the specific business of the firm, they are defining the firm's line of business. This encompasses the scope of the company's activities, including what products or services it offers, where it operates, and its area of expertise.

Question 12

An appliance retailer has decided to limit its business to marketing major appliances in a size suitable for smaller apartments. This represents its
A) role of marketing.
B) line of business.
C) corporate culture.
D) overall objectives.

Accepted Answer

The decision to focus on marketing major appliances of a size suitable for smaller apartments defines the retailer's line of business, indicating the specific market segment and type of products it has chosen to specialize in.

Question 13

Marketing is given an important role in a company if
A) marketing functions are narrowly defined.
B) the firm invests heavily in distribution facilities.
C) marketing personnel have both short-term and long-term objectives.
D) marketing personnel have decision making authority and adequate resources are provided.

Accepted Answer

Marketing is given an important role in a company when marketing personnel have decision-making authority and adequate resources are provided. This enables them to effectively plan, execute, and adjust marketing strategies to meet the company's objectives.

Question 14

A firm's corporate culture refers to its
A) short- versus long-term focus.
B) degree of consumer orientation.
C) shared values, norms, and practices.
D) role of marketing in the firm.

Accepted Answer

Corporate culture is defined by the shared values, norms, and practices that characterize an organization, guiding how employees behave and interact with each other.

Question 15

Which of these factors is generally considered NOT to be controllable by marketing personnel?
A) The marketing mix
B) Overall objectives
C) The selection of a target market
D) The marketing organization

Accepted Answer

Overall objectives are typically set by higher-level management or corporate strategy, making them less controllable by marketing personnel compared to the marketing mix, target market selection, and the marketing organization structure, which are directly influenced by marketing decisions.

Question 16

A commonly used market segment would classify consumers on the basis of
A) perceived risk.
B) ownership.
C) age group.
D) risk tolerance.

Accepted Answer

Age group is a commonly used basis for segmenting markets because consumer preferences often vary significantly with age, making it a useful criterion for targeting specific products or services.

Question 17

The particular group of customers a firm proposes to serve with a particular marketing program is its
A) unified segment.
B) benefit segment.
C) target market.
D) market segment.

Accepted Answer

The term "target market" refers to the specific group of customers that a firm aims to reach with its marketing efforts and products. This group is selected based on various criteria such as demographics, interests, and behaviors, making it the focus of the company's marketing program.

Question 18

The process of subdividing a market into clear subsets of customers that act in the same way or have comparable needs is referred to as
A) demographic marketing.
B) market segmentation.
C) lifestyle segmentation.
D) target marketing.

Accepted Answer

Market segmentation is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing mixes.

Question 19

Which of these is NOT a marketing objective?
A) To reduce dependence on a key supplier
B) To improve a company's overall image
C) To increase a firm's average purchase from its customers
D) To increase customer inquiries

Accepted Answer

Reducing dependence on a key supplier is more of a supply chain or operational objective rather than a marketing objective. Marketing objectives typically focus on improving a company's image, increasing sales or customer engagement, and enhancing customer relationships.

Question 20

Which of the following is an example of a marketing objective?
A) To maintain return on investment at 14 percent
B) To earn a 7-year payback period on a new plant
C) To double the current research and development budget
D) To increase market share to 15 percent

Accepted Answer

Increasing market share to 15 percent is a marketing objective because it directly relates to the company's strategic goals in the marketplace, focusing on expanding its customer base or sales volume relative to competitors.

Quiz 2: The Environment in Which Marketing Operates

Which one of the following is NOT a part of the marketing environment?

Which is a major uncontrollable factor to both the firm and its marketers?

A firm monitors uncontrollable factors and evaluates its strengths and weaknesses in

In which part of the marketing environment does a firm monitor uncontrollable factors and assess its strengths and weaknesses?

The part of the marketing environment in which an organization plans changes in its marketing plan to reflect a new consumer trend is

After studying its uncontrollable environment, a firm decides to change its pricing strategy. This decision involves

Which of the following are parts of a marketer's macroenvironment?

The elements that are internally directed by a firm and its marketers are known as

Which of the following is NOT a controllable factor that is directed by top management?

Which of the following factors is NOT directed by top management?

When business managers outline a firm's functions, geographic coverage, and the specific business of the firm, they are detailing the firm's

An appliance retailer has decided to limit its business to marketing major appliances in a size suitable for smaller apartments. This represents its

Marketing is given an important role in a company if

A firm's corporate culture refers to its

Which of these factors is generally considered NOT to be controllable by marketing personnel?

A commonly used market segment would classify consumers on the basis of

The particular group of customers a firm proposes to serve with a particular marketing program is its

The process of subdividing a market into clear subsets of customers that act in the same way or have comparable needs is referred to as

Which of these is NOT a marketing objective?

Which of the following is an example of a marketing objective?