MGT301 Quiz 3

MGT301 - Quiz No.3

Date: 20 November 2025

Q1. ABC Fortunes has just developed a formal statement of its purpose. This firm has put together a mission statement.

1. True
2. False

Correct answer: True

Q2. Competitors are NOT part of the marketing environment.

1. True
2. False

Correct answer: False

Q3. At Air Online, “we provide online services,” is a market-oriented business definition.

1. True
2. False

Correct answer: False

Q4. Mission statements should be realistic and general in nature.

1. False
2. True

Correct answer: True

Q5. Today, marketing managers are viewing research information not only as an input for making internal decisions but also as an input for external partners.

1. False
2. True

Correct answer: True

Q6. Making more sales to current customers without changing a firm’s products is market penetration.

1. False
2. True

Correct answer: True

Q7. Secondary data provide good starting points and often help to define problems and research objectives, though most companies must also collect primary data.

1. True
2. False

Correct answer: True

Q8. Experimental research is all about gathering data by asking questions to people about their knowledge, attitudes, and buying behavior.

1. True
2. False

Correct answer: False

Q9. The elements of the marketing mix commonly known as the “four Ps” include: product, price, place, and promotion.

1. True
2. False

Correct answer: True

Q10. Once the research problems and objectives have been defined, researchers must determine the exact information needed and present it to management.

1. True
2. False

Correct answer: True

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