Final Exam Essay

2800 Words12 Pages
MKT 421\Final Exam 1) Which of the following statements best describes the modern view of marketing? A. Marketing begins with anticipating potential customer needs. B. Marketing should take over production, accounting, and financial services within a firm. C. The job of marketing is to get rid of whatever the company is producing. D. Marketing is concerned with generating a single exchange between a firm and a customer. 2) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of A. Making goods or performing services. B. A command economy. C. Production. D. Marketing. 3) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is: A. A part of marketing. B. A production activity. C. One of the universal functions of innovation. D. An example of the micro-macro dilemma. 4) Which of the following statements regarding marketing strategies is FALSE? A. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market. B. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm. C. It is useful to think of the marketing strategy planning process as a narrowing-down process. D. Developing successful marketing strategies does not need to be a hit-or-miss proposition. 5) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at A.

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