question

Selling of products from a seller to a customer creates ________ utility. a. place b. form c. time d. transfer e. possession

answer

e. possession

question

Which of the following is considered a facilitating function? a. Financing goods b. Storing goods c. Buying services d. Offer services e. Transporting goods

answer

a. Financing goods

question

Customer lifetime value is a measure of a. a customer's worth to a business over a one-year timeframe. b. the amount of revenue generated by a customer. c. a customer's worth to a business over one's lifetime. d. the amount of revenue subtracted by the time expense generated by a customer.

answer

c. a customer's worth to a business over one's lifetime.

question

In a production orientation mode, a business manager recognizes their business focuses on taking orders; while in a customer orientation mode, a manager focuses on a. increasing advertising. b. intensify sales techniques. c. achieving the organization's goals. d. distributing goods

answer

c. achieving the organization's goals.

question

Business-to-business markets are also called ________ markets. a. reseller b. producer c. consumer d. governmental e. industrial

answer

e. industrial

question

Which of the following is NOT an element of marketing controlled by a business? a. Distribution b. Promotion c. Product d. Price e. Layout

answer

e. Layout

question

The first step of the six-step procedure for conducting marketing research is a. interpreting information. b. defining the problem. c. planning the research. d. making a preliminary investigation. e. gathering information.

answer

b. defining the problem.

question

Internal data that may be used in as marketing information may come all of the following sources except a. sales figures. b. activities of the sales force. c. intermediaries. d. marketing costs. e. product costs.

answer

c. intermediaries.

question

Employees can access internal data within a company to facility communication among departments. These are known as a. a database. b. LEXIS-NEXIS. c. an online information service. d. the Internet. e. intranets.

answer

e. intranets.

question

CRM focuses on using information about customers to create marketing strategies that create and sustain customer relationships. a. True b. False

answer

a. True

question

Time utility refers to Christmas ornaments showing up in the stores when customers are ready to buy them. a. True b. False

answer

a. True

question

A sales orientation for businesses began just after the start of the Industrial Revolution. a. True b. False

answer

b. False

question

The marketing concept has only recently been adopted by a few larger, successful businesses. a. True b. False

answer

b. False

question

A market is a group of individuals or organizations that need certain products and have the ability, willingness, and authority to purchase the products. a. True b. False

answer

a. True

question

Institutional markets include churches and not-for-profit organizations and foundations. a. True b. False

answer

a. True

question

One business firm can only target one specific market. a. True b. False

answer

b. False

question

Short-range plans in a marketing plan are for 1-2 years. a. True b. False

answer

b. False

question

A database is a collection of information used only by managers of information systems. a. True b. False

answer

b. False

question

Consumer buying behavior refers to the purchasing of products by producers, resellers, and governmental units. a. True b. False

answer

b. False - Business buying behavior

question

Which of the following is only indirectly influenced by marketing efforts? a. Possession utility b. Time utility c. Value utility d. Form utility e. Place utility

answer

d. Form utility

question

A transfer of title is an example of ________ utility. a. time b. value c. possession d. form e. place

answer

c. possession

question

From the start of the Industrial Revolution until the early twentieth century, marketing a. was limited to taking orders and distributing finished goods. b. research was just beginning. c. research was of prime concern for most expanding businesses. d. was the first concern of nearly all U.S. businesses. e. was growing and expanding rapidly.

answer

a. was limited to taking orders and distributing finished goods.

question

________ markets consist of purchasers and/or household members who intend to consume or benefit directly from their purchases. a. Producer b. Reseller c. Consumer d. Governmental e. Industrial

answer

c. Consumer

question

Which of the following is not part of the marketing mix? a. Product b. Place c. Distribution d. Utility e. Promotion

answer

d. Utility

question

Which of the following is not a common base for market segmentation? a. Psychographic b. Demographic c. Geographic d. Physical e. Behavioristic

answer

d. Physical

question

Which of the following is not part of the external marketing environment? a. Economic forces b. Corporate culture forces c. Technological forces d. Political forces e. Competitive forces

answer

b. Corporate culture forces

question

Long-range plans in a marketing plan cover periods of more than ________ years. a. eight b. two c. fifteen d. ten e. five

answer

e. five

question

All except ________ is a step of marketing research. a. planning the research b. interpreting the information c. making a preliminary investigation d. gathering factual information e. brainstorming the issue

answer

e. brainstorming the issue

question

________ is personal income less all additional personal taxes that an individual pays. a. Business buying behavior b. Personal income c. Disposable income d. Sales forecast e. Discretionary income

answer

c. Disposable income

question

Buying, in terms of a marketing function, includes obtaining raw materials to make products. a. True b. False

answer

a. True

question

Storing is considered a facilitating function. a. True b. False

answer

b. False

question

Utility is the ability of a purchased good or service to satisfy a human need (whatever that need may be). a. True b. False

answer

b. False

question

Products such as Rolls Royce automobiles can be successfully marketed with the undifferentiated approach. a. True b. False

answer

b. False

question

Rebates offered by an automobile manufacturer are part of the product ingredient of the marketing mix. a. True b. False

answer

b. False

question

External data sources of marketing information may include an organization's suppliers and intermediaries. a. True b. False

answer

a. True

question

Information provided by a single firm on household demographics, purchases, television viewing behavior, and responses to promotions such as coupons and free samples is called triple-source data. a. True b. False

answer

b. False

question

It is not important for companies to understand consumer buying behavior, they just need to make the products. a. True b. False

answer

b. False

question

Situational factors that pertain to the buying process include physical surroundings, time, and buyer's mood. a. True b. False

answer

a. True

question

Social media can be used as a means of marketing research. a. True b. False

answer

a. True

Chapter 11 Practice Quizzes – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards