MKT 201 - Sample Exam Questions #1 - Stockmyer

1. Which element is not necessary for a marketing transaction to occur?

      A. voluntary involvement

      B. money

      C. at least two parties

      D. each party has something of value

      E. All the above are necessary for a marketing transaction.



2. In marketing, the most common meaning of the word "market" is:

      A. a store that sells groceries.

      B. any place consumers can buy things.

      C. a particular line of products or specific line of merchandise for sale.

      D. a group of companies that have goods for sale.

      E. people with the desire and with the ability to buy a specific product.



3. The fastest growing age segment in America is made up of:

      A. infants.

      B. people over 50 years of age.

      C. children of baby boomers.

      D. teens.



4. Consumers born between approximately 1946 and 1964 are a group called:

      A. baby boomers

      B. yuppies

      C. generation X

      D. generation Y

      E. pre-teen shoppers



1. (35 points) Describe what "The Marketing Concept" means. How long has this concept been a driving force for many businesses in the U.S.? If businesses follow the marketing concept, explain how it is good (or bad) for both consumers and businesses.