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The American Marketing Association's definition of marketing: a. is limited to promotional activities b. focuses on the value of empowerment, teamwork, and customer value c. shows how marketing benefits the marketer d. relies on the synergy created by exchange e. includes creating, communication, delivering and exchanging offerings that have value for customers, clients, partners and society at large

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e. includes creating, communication, delivering and exchanging offerings that have value for customers, clients, partners and society at large

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Firms with a _____ orientation focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace. a. sales b. production c. market d. customer e. customer-benefit

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b. production

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_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits. a. opportunity cost b. marketing utility c. market quality d. satisfaction percentage e. customer value

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e. customer value

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_____ is a strategy that focuses on keeping and improving relationships with current customers. a. commitment selling b. relationship marketing c. transactional marketing d. market engineering e. organization-customer synergy

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b. relationship marketing

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______ is the collaborative efforts of people to achieve common objectives. a. effort training b. teamwork c. empowerment d. OJT training e. mediation

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b. teamwork

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All of the following are necessary for exchange to occur EXCEPT: a. each party is capable of communication and delivery b. each party signs a contract before exchange occurs c. each party believes it is appropriate or desirable to deal with the others d. each party is free to accept or reject the exchange offer e. each party must have something the other party considers to be valuable

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b. each party signs a contract before exchange occurs.

question

Which orientation assumes people will buy more goods/services if aggressive marketing techniques are used? a. sales b. production c. market d. customer e. marketplace

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a. sales

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When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created. a. a value line b. a quality rift c. planning excellence d. customer satisfaction e. expectation satisfaction

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d. customer satisfaction

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Some market-orientated firms give employees expanded authority to solve customer problems on the spot. This is known as: a. training b. deregulation c. empowerment d. commissioning e. mediating

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c. empowerment

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A market-oriented firm defines its business in terms of: a. goods and services b. the benefits its customers seek c. employee empowerment d. competitive position e. customer satisfaction

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b. the benefits its customers seek

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A subgroup of a single business or a collection of related businesses within the larger organization is called a(n): a. conglomerate b. joint venture c. strategic business unit (SBU) d. oligarchy e. strategic alliance

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c. strategic business unit (SBU)

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Which of the following is a type of strategic alternative that tries to increase market share among existing customers? a. vertical integration b. product penetration c. divestment d. horizontal integration e. market penetration

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e. market penetration

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Which of the following represents a business unit that shows rapid growth but poor profit margins?a. star b. cash cow c. problem child d. loss leader e. dog

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c. problem child

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A written document that acts as a guidebook of marketing activities for the marketing manager is known as the ______. a. strategy document b. maketing plan c. vision statement d. mission statement e. strategic plan

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b. marketing plan

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The _____ is the unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market. a. internal environmental mix b. marketing mix c. product mix d. produce line e. market portfolio

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b. marketing mix

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Strategic plans require: a. long-term resource commitments b. a change in organizational structure c. the addition of new personnel d. new produce development d. changes in prices

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a. long-term resource commitments

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____ is a marketing strategy that creates new products for present markets. a. produce penetration b. market penetration c. product development d. market development e. diversification

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c. product development

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Which of the following category in the portfolio model is a market leader and growing fast? a. star b. meteor c. cash cow d. shiner e. top dog

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a. star

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All of the following elements of the marketing plan EXCEPT: a. business mission statement b. situation analysis c. target market strategy d. marketing mix e. portfolio analysis

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e. portfolio analysis

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A marketing audit is a(n): a. thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization b. financial examination of the firm's marketing performance c. financial examination of the firm's accounting records performed by outside consultants d. evaluation of the effectiveness of advertising e. evaluation of pricing strategies across all the relevant competitors in an industry

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a. thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization

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____ refers to the moral principles or values that generally govern the conduct of an individual or a group. a. righteousness b. social consensus c. sustainability d. virtue e. ethics

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e. ethics

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In the ____ stage of ethical development, loyalty, and obedience to the organization or to society become paramount. a. pre-conventional morality b. transformationalism c. conventional morality d. post-conventional mortality e. actualized morality

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c. conventional morality

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____ is the concern of business for the long-range best interests of both the company and its relationships to the society within which it operates. a. consumerism b. corporate social responsibility c. cultural sensitivity d. conventional morality e. environmental consideration

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b. corporate social responsibility

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The four components of the pyramid of corporate social responsibility are: a. sustainability, creativity, profit and culture b. organizational, financial, social, and cultural responsibilities c. organizational, financial, social, and cultural responsibilities d. sustainability, legality, creativity, and competition e. economic, legal, ethical, and philanthropic responsibilities

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e. economic, legal, ethical, and philanthropic responsibilities

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The movement to develop and market products designed to minimize negative effects on the physical environment or to improve the environment is known as: a. enviromarketing b. green marketing c. cause marketing d. social marketing e. minimalist marketing

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b. green marketing

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____ are the rules that people develop as a result of cultural values and norms. a. virtues b. ethics c. socialization d. conscience e. morals

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e. morals

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Which level of ethical development moves from an egocentric viewpoint toward the expectations of society? a. post-conventional morality b. conventional morality c. pre-conventional d. secondary morality. e. primary morality

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b. conventional morality

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Corporate social responsibility is defined as the: a. belief that the legal system defines ethical behavior b. development of inclusive codes of ethics c. rules by which social rewards are attained d. concern for society's welfare by businesses e. coordination of social programs for publicity purposes

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d. concern for society's welfare by businesses

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The pyramid of corporate responsibilities contains all of the following components EXCEPT: a. economic responsibilities b. ethical responsibilities c. cultural responsibilities d. legal responsibilities e. philanthropic responsibilities

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c. cultural responsibilities

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____ is the cooperative effort of a for-profit fir and nonprofit organization. a. environmental sustainability b. social sustainability c. cause-related marketing d. advocacy marketing e. nonprofit marketing

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c. cause-related marketing

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The external environment ______. a. can be controlled in much the same manner as the internal marketing mix b. cannot be influenced by marketing managers c. does not change over time d. does not have an impact on Fortune 500 companies e. must be continually monitored by marketing managers

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e. must be continually monitored by marketing managers

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Which of the following is the most difficult for marketing managers to forecast, influence, or integrate into marketing plans? a. technology b. social factors c. demography d. competition e. economic conditions

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b. social factors

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Recession, inflation, and consumers' incomes that influence the marketing environment are called _____ factors. a. economic b. socio-demographic c. political d. government e. consumption

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a. economic

question

Which type of research is also called pure research and attempts to expand the frontiers of knowledge but is not aimed at a specific, pragmatic problem? a. applied b. basic c. primary d. secondary e. synergistic

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b. basic

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Laws and regulations of various governments and their ongoing development and change are an example of ____ factors that are part of the external environment of all organizations. a. economic investment b. political and legal c. research and development d. competitive e. demographic

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b. political and legal

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The goal of environmental scanning is to ____. a. identify opportunities and threats in the marketplace b. eliminate all competition in the marketplace c. close all environmental government d. control the external government e. increase product myopia

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a. identify opportunities and threats in the marketplace

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A(n) ____ is the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to traditional stereotypes. a. aggregated lifestyle b. component lifestyle c. psychographic mode of living d. demographically define lifestyle e. targeted lifestyle

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b. component lifestyle

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____ is measured by comparing the relative cost of a standard of goods and services in different geographic areas. a. gross individual profit b. purchasing power c. net profit d. relative pricing e. price escalation

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b. purchasing power

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Which type of research attempts to develop new or improved products? a. basic b. synergistic c. secondary d. primary e. applied

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e. applied

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The number of firms a company must face, the relative size of these firms, and the degree of interdependence within the industry are all part of its ___ environment. a. demographic b. economic c. political d. competitive e. social

answer

d. competitive

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