question

When a T-shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?

answer

production-oriented

question

Marketing involves all of the following EXCEPT: conducting exchanges. satisfying customer needs and wants. creating value. efforts by individuals and organizations. production scheduling.

answer

production scheduling.

question

Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks whether they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing?

answer

Satisfying customer needs and wants

question

Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people who only care about making a sale. When reading about the core aspects of marketing, Julia is relieved to see that in marketing

answer

all parties to an exchange should be satisfied.

question

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and

answer

the ability to buy them.

question

When referring to exchange, marketers are focusing on

answer

the trading of things of value.

question

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering

answer

information

question

Which of the following is a core aspect of marketing?

answer

making product, place, promotion, and price decisions

question

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT

answer

performance

question

The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets.

answer

controllable

question

The fundamental goal of marketers when creating goods, services, or combinations of both, is to

answer

create value

question

Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book or a paperback. Brian is addressing which core marketing aspect?

answer

making product decisions

question

The basic difference between a good and a service is that a good

answer

can be physically touched

question

Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is

answer

expanding from offering just goods to also offering services.

question

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about

answer

its value

question

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes

answer

the value of their time and energy

question

Henriette offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on

answer

how different customers perceive the value of her services.

question

Marketing channel management is also known as _____ and Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called

answer

supply chain management

question

Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall schedule. She is trying to determine how to offer the classes students need at the times when students need them. Yesenia is struggling with the marketing function of

answer

supply chain management

question

The marketing goal of getting the right quantities to the right locations at the right time relates to

answer

supply chain management

question

Marketers involved in value-oriented marketing are constantly balancing

answer

customer benefits with costs of their offerings

question

The importance of supply chain management is often overlooked in the study of marketing because

answer

many of these activities take place behind the scenes

question

When considering career choices in marketing, many students overlook supply chain management because

answer

many of the activities take place behind the scenes

question

UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals.

answer

supply chain management

question

__________ is communication by a marketer that informs, persuades, or reminds potential customers about a product.

answer

promotion

question

effective promotion enhances a product or service's

answer

perceived value

question

by promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

answer

increase perceived value of its products

question

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts. Retailers function as

answer

market intermediaries

question

Auction sites like eBay have increased opportunities for __________ marketing.

answer

c2c

question

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from __________ to __________ marketing.

answer

b2b; b2c

question

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing.

answer

c2c

question

The Got Milk advertising campaign, designed to increase consumption of milk, was intended to help market a(n)

answer

industry

question

The evolution of marketing progressed along the following continuum:

answer

production, sales, marketing, value-based marketing.

question

The idea that a good product will sell itself is associated with the __________ era of marketing.

answer

production oriented

question

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the __________ era of marketing.

answer

production-oriented

question

Melanie works for a small computer software company. Her boss is constantly improving its products but neglecting customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing.

answer

production-oriented

question

During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers.

answer

sales oriented

question

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold.

answer

sales oriented

question

Near the end of the model year, Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the __________ era.

answer

sales oriented

question

Many U.S. companies first discovered marketing during the __________ era.

answer

market oriented

question

during the market oriented era,

answer

the customer was king

question

During the __________ era, manufacturers and retailers began to focus on what consumers wanted and needed before they designed, made, or attempted to sell their products.

answer

market oriented

question

During the __________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

answer

value based marketing

question

value is

answer

what you get for what you give

question

Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the __________ era.

answer

value based marketing

question

Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena operates in the __________ era of marketing.

answer

value based

question

In delivering value, marketing firms attempt to find the most desirable balance between

answer

providing benefits to customers and keeping costs down

question

Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or

answer

improve products and services at the same costs

question

Christie has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned, because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on

answer

value co-creation

question

To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires. Pokrah University is becoming more value driven through

answer

building relationships with customers

question

As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of

answer

sharing info across the organization

question

In the past, manufacturers' representatives did not have up-to-minute data about the products they were selling. Today, manufacturers' representatives are often provided online access to inventory data for the companies they represent. These online inventory systems allow companies to become more value-driven by

answer

sharing information across the organizaiton

question

Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings.

answer

benefits

question

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in

answer

long term relationships

question

Even though they operate from out-of-the-way airports and offer few extra services, discount, no-frill airlines like Ryanair and EasyJet have been successful. Consumers obviously consider

answer

the benefit of lower prices to be greater than the cost of reduced services and less convenience

question

a relational orientation is base don the philosophy that buyers and sellers develop

answer

a long term relationship

question

Many firms with complex products have missionary salespeople who assist customers with problems and implementation programs. These salespeople rarely sell products but often become involved in and knowledgeable about specific customers' needs and wants. These salespeople focus on a(n) __________ orientation with their customers.

answer

relational

question

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that

answer

lifetime profitability of relationships matters more than profits from a particular transaction

question

After hurricanes like Katrina, many small building contractors will flock to the damaged area, charging whatever customers will pay for temporary repairs to roofs and other parts of damaged homes. These contractors are engaged in a(n) __________ marketing orientation.

answer

transactional

question

The goal of customer relationship management is to

answer

identify and build loyalty among a firms customers

question

Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be in the buying mode. Franco's system is part of

answer

customer relationship management

question

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of

answer

customer relationship management

question

marketing was once an afterthought to

answer

production

question

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as

answer

an afterthought

question

Georgia, the outside sales rep for a major building supply company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, one important function Georgia should provide is

answer

advising the production and purchasing departments to produce or order smaller quantities of products

question

Jenny, the delivery and sales representative for a beer distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of

answer

alerting the logistics department when to ship products

question

After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of

answer

engaging customers and developing long term relationships

question

marketing provides the critical function of _____ when companies expand globally

answer

understanding customers

question

Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smart phones. When she returned to work, she mentioned this observation to her international sales manager. Leah was providing the important marketing function of

answer

identifying opportunities to expand

question

Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in

answer

effective supply chain management

question

marketing enriches society by

answer

sponsoring charitable events

question

A friend of yours comments, "I'm starting my own business. I have a perfect product that no one else can touch, but I have no use for marketing. That's just for the mega-corporations." Which of the following arguments would you NOT use in talking about marketing?

answer

marketing isn't essential now but it will be in a year or two when the product takes off

question

many entrepreneurs are successful through marketing efforts designed to

answer

satisfy unfulfilled needs

question

people who initiate, organize, operate, and assume the risk of business venture are called

answer

entrepreneurs

question

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and email to participate, the radio station is

answer

offering an exchange

question

A(n)__________ is the trade of things of value between the buyer and the seller so that each is better off as a result.

answer

exchange

question

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps.

answer

marketing mix

question

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

answer

place

question

The primary purpose of the __________ plan is to specify the marketing activities for a specific time.

answer

marketing

question

The process of value __________, in which customers collaborate in product design, often provides additional value to the firm's customers.

answer

co-creation

question

When an accounting firm provides an online training module showcasing real-life decision lapses and their negative effect on the company, it is trying to encourage what type of behavior from its employees?

answer

ethical

question

The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called

answer

marketing

question

Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on?

answer

place

question

Jeff opened a sporting apparel store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on?

answer

price

question

At one point in the evolution of marketing, the United States entered a buyer's market and the customer became king. Which era is being described?

answer

market oriented

question

marketing channel management is related to which of the 4 Ps

answer

place

question

Marney bought a dress from a retail store. Which core aspect of marketing was Marney most directly participating in?

answer

marketing involves an exchange

question

in the broadest terms, the market place refers to

answer

the world of trade

question

which element of the marketing mix is most relevant to "capturing value"

answer

price

question

which element of the marketing mix is most relevant to "delivering value"

answer

place

question

which element of the marketing mix is most relevant to "creating value"

answer

product

question

which marketing activity is most directly served by the promotion element of the marketing mix

answer

communicating value

question

Janine was tired of her winter coat, so she sold it to her friend, Marissa. This is an example of ________ marketing.

answer

C2C

question

marketing is an activity that only large firms can execute

answer

false

question

good marketing is not a random activity

answer

true

question

understanding a customers needs and wants is fundamental to marketing success

answer

true

question

marketers might wish to sell their products to everyone but its not practical to do so

answer

true

question

the group of firms that makes and delivers a given set of goods and services is called supply chain management

answer

true

question

in value co-creation, the customer participates in the creation of a good or service which provides additional value to the customer

answer

true

question

Over the past decade or so, marketers have begun to realize that it is best to structure a firm's customer orientation in terms of transactions rather than relationships.

answer

false

question

When a good or service is promoted, the purpose of the promotion is to inform, persuade, or remind customers.

answer

true

question

when a manufacturer sells car parts to toyota, this is b2c marketing

answer

false

question

The power adapters Dell sells with its computers are built by small companies that specialize in power-related accessories. Dell and the power adapter manufacturers are engaging in B2B marketing.

answer

true

question

garage sells are examples of c2c marketing

answer

true

question

entrepreneurial companies are unable to control their marketing mixes

answer

false

question

foursquare is an example of a location based social media app

answer

true

question

The trade of things of value between the buyer and the seller so that each is better off as a result is known as an exchange.

answer

true

question

Marketing's fundamental purpose is to create value by developing a variety of offerings that will earn income for the company

answer

false

question

Margo likes her morning coffee, and she always stops at Starbucks because it is on her way to work. Margo is being influenced by the place element of the marketing mix.

answer

true

question

he text highlights one entrepreneur who was a billionaire by the age of 50. This person is Warren Buffet.

answer

false

question

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run.

answer

true

question

effectively managing supply chains has an minimal effect on profitability

answer

false

question

a group of firms that makes and delivers a given set of goods and services is knows as a distribution channel

answer

false

question

Buffalo Wild Wings suggests that its diners check in to its locations using their phones. This demonstrates the use of social media to market a product.

answer

true

question

Approximately half of U.S. companies now use social media tools for marketing purpose

answer

false

question

firms become value driven in part by focusing on the competition

answer

true

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