Study Guide

Field 036: Marketing Education
Sample Multiple-Choice Questions

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MARKETING FOUNDATIONS

Objective 001
Understand fundamental concepts, goals, and strategies of marketing.

1. Which of the following should be the primary goal of a company's long-term marketing plan?

  1. projecting revenues from sales for each fiscal year
  2. creating a managerial structure to achieve the company's goals
  3. increasing production capabilities to gain market share
  4. identifying specific customer needs the company intends to satisfy
Answer
Correct Response: D.

2. The concept of market segmentation is based primarily on which of the following observations?

  1. People who make up the audience for a product usually have a variety of different types of needs.
  2. Different products are likely to need different methods for distributing the product to the consumer.
  3. Consumer buying motives can be influenced through appropriate promotional techniques.
  4. Marketing strategies must adapt to the changes that occur as products move through their life cycles.
Answer
Correct Response: A.

Objective 002
Understand basic elements of effective communication in marketing.

3. Which of the following questions would be most appropriate to consider first when preparing a marketing communication?

  1. What kind of response am I trying to elicit with this message?
  2. Why would the audience respond to this message?
  3. How should I present the content of this message?
  4. What is the main objective of this message?
Answer
Correct Response: D.

Objective 003
Analyze the purpose and style of marketing communications.

4. A market researcher is designing a questionnaire to survey consumer preferences as the company plans to develop a new disposable mop. Which of the following survey questions would best elicit appropriate information?

  1. What features do you consider most important in a disposable mop?
  2. Would you pay more for a mop that made cleaning your floors easier?
  3. Are you happy with the cleaning results of the mop you are currently using?
  4. What kind of mop do you currently use to clean your floors?
Answer
Correct Response: A.

Objective 004
Understand and apply economic concepts to marketing.

5. Use the graph below to answer the question that follows.

The graph shows 2 supply curves, labeled S sub 1 and S sub 2, and 2 demand curves, labeled D sub 1 and D sub 2. The vertical axis is labeled Price, and the horizontal axis is labeled Quantity. The two demand curves start high and descend, steeply at first, then at an ever more shallow angle, with D2 consistently above D1. The two supply curves start low and ascend at roughly a 45 angle in a gradual arc, with S2 consistently below S1.

The graph above shows two supply curves and two demand curves for a product. For which supply and demand curves is the equilibrium price of the product greatest?

  1. S1 and D1
  2. S2 and D1
  3. S1 and D2
  4. S2 and D2
Answer
Correct Response: C.

Objective 005
Understand business organization and management.

6. Which of the following is the most appropriate first step to take when developing a company's marketing plan?

  1. identifying strengths, weaknesses, threats, and opportunities
  2. establishing specific marketing objectives
  3. evaluating the current economic situation
  4. synthesizing overall organizational strategies
Answer
Correct Response: A.

Objective 006
Understand human resource management, labor relations, and the role of group and interpersonal behavior in marketing management.

7. Requiring a job applicant to answer which of the following questions would be a violation of federal law?

  1. Have you ever been convicted of a felony?
  2. Do you and your spouse plan to have children?
  3. Why did you leave your last job?
  4. Are you willing to take a personality test?
Answer
Correct Response: B.

Objective 007
Understand and apply principles, concepts, and techniques related to global business and marketing.

8. A developing country with a large, unskilled, low-wage labor force is likely to have a comparative advantage for exporting which of the following products to a country with a highly skilled workforce?

  1. fresh milk
  2. jet engines
  3. clothing and textiles
  4. semiconductors
Answer
Correct Response: C.

MARKETING FUNCTIONS

Objective 008
Understand the role of price and the use of pricing strategies.

9. Which of the following best describes the reason for using loss-leader pricing methods?

  1. to attract customers to a store so that they may purchase additional items at the regular price
  2. to encourage customers to associate higher prices with superior quality of products
  3. to encourage customers to buy larger quantities of a product than they would normally purchase
  4. to sell seasonal goods or perishable inventory that is close to its expiration date
Answer
Correct Response: A.

10. A toy manufacturer plans to make 200,000 toy action figures to sell to wholesalers for $12 each. The cost of making and marketing the toys is $7.50 per unit. How many action figures must the toy manufacturer sell to break even?

  1. 45,000
  2. 80,000
  3. 125,000
  4. 140,000
Answer
Correct Response: C.

Objective 009
Understand product service planning.

11. Which of the following best represents a graph of the product life cycle for a product considered to be a fad?

Each response is a graph with the vertical axis labeled Sales and the horizontal axis labeled Time.

  1. The data line ascends sharply from the origin, curves down into a dip, then returns to its highest value and levels off.
  2. The data line starts high, dips down in a smooth curve, then reverses to return to its original value.
  3. The data line ascends sharply from the origin, then descends sharply to curve back to a value of 0.
  4. The data line ascends sharply from the origin, then curves down to about half of its maximum value.
Answer
Correct Response: C.

Objective 010
Understand distribution processes and methods for developing distribution plans.

12. Use the table below to answer the question that follows.

Mason Corporation
Product A
Sales Rate 100 items/day
Order Lead Time 4 days
Desired Safety Stock 150 items

Considering a standard reorder point formula, which of the following represents the reorder point for Product A?

  1. 350 units
  2. 550 units
  3. 600 units
  4. 800 units
Answer
Correct Response: B.

Objective 011
Understand promotional concepts and strategies.

13. Use the table below to answer the question that follows.

Selected Media Characteristics
IntrusivenessVery High
Product DemonstrationExcellent
Package IdentificationGood
Short-term ActionGood
Economy of Production CostPoor
Major Market PenetrationExcellent

Which of the following types of advertising media best corresponds with the criteria in the table above?

  1. television
  2. magazines
  3. radio
  4. newspapers
Answer
Correct Response: A.

Objective 012
Understand the selling process.

14. In which of the following situations can a consumer invoke certain rights entitled to him or her under the Michigan Consumer Protection Act?

  1. An unemployed person requests an extension on a home mortgage payment.
  2. A firm charges 30 percent more than its competitors for a product.
  3. An individual seeks a refund when returning an item of the wrong size to a store.
  4. A store incorrectly advertises its products as being biodegradable.
Answer
Correct Response: D.

Objective 013
Understand the function of financing in marketing.

15. Which of the following best describes the role that venture capitalists generally play in financing small businesses?

  1. providing low-interest loans and financial advice
  2. raising capital by helping the business sell stock to the public
  3. guaranteeing loans made by banks and other financial institutions
  4. supplying cash to businesses in return for a share of equity
Answer
Correct Response: D.

Objective 014
Understand the function of marketing information management.

16. Which of the following should be the first step in performing marketing research?

  1. Create a sample research design.
  2. Define the research problem.
  3. Determine the data collection method.
  4. Identify the target consumers of the research.
Answer
Correct Response: B.

TECHNOLOGY, ETHICS, AND CAREER DEVELOPMENT

Objective 015
Understand the role of ethical and social responsibility in marketing.

17. Which of the following is likely to be most critical to the success of a company's social responsibility program?

  1. soliciting customer input into the design of the program
  2. establishing employee incentives for participating in the program
  3. publishing a list acknowledging key contributors to the program
  4. gaining a strong commitment to the program from top management
Answer
Correct Response: D.

Objective 016
Understand the basic principles and application of technology in marketing.

18. For which of the following applications would a marketing department most appropriately use database software?

  1. analyzing consequences of various sales scenarios
  2. identifying all customers who share given characteristics
  3. calculating the company's return on investment from given data
  4. summarizing the opinions of members of a focus group
Answer
Correct Response: B.

Objective 017
Understand how to promote student development and assist students in career planning.

19. Which of the following best describes the primary mission of DECA?

  1. to develop leadership qualities in students interested in pursuing business and marketing careers
  2. to educate students of marketing about the latest techniques used in the sales profession
  3. to provide experience in market research by offering grants to marketing students
  4. to help aspiring entrepreneurs learn strategies for applying marketing skills in a new business
Answer
Correct Response: A.

Objective 018
Understand the procedures and techniques necessary to select, prepare for, obtain, and maintain a career in marketing.

20. Which of the following would be considered a violation of an employee's rights?

  1. conducting a credit or background check without the consent of the employee
  2. requiring an employee to work occasional overtime to meet business demands
  3. reading private e-mails sent to an employee on the employer's computer system
  4. paying a new employee less money than an experienced employee in a similar position
Answer
Correct Response: A.