Question 1

Which of the following factors is not required for marketing to occur? a) a retail location b) a way for the parties to communicate c) two or more parties with unsatisfied needs d) something to exchange e) the desire and ability to satisfy these needs

Accepted Answer

a

Question 2

The societal marketing concept combines which two of the following principles? a) marketers must maintain focus on maximizing profits for shareholders b) marketers should limit distribution of their products to societies whose values mirror their own c) organizations should serve customers in a way that provides for society\'s well being d) organizations should satisfy the needs of consumers

Accepted Answer

c d

Question 3

Marketing creates four types of ______: form, place, time, and possession

Accepted Answer

utility

Question 4

Which of the following is the most fundamental goal of marketing? a) to advertise b) to achieve sustainability c) to satisfy consumer needs d) to develop innovative products

Accepted Answer

c

Question 5

Which of the following are reasons to learn about marketing?  a) to become a better consumer b) to help in your career planning c) to more easily mislead shoppers d) to become a better informed citizen

Accepted Answer

a b d

Question 6

______ consumers, in contrast with organizational buyers, are the people who use products and services purchased for a household

Accepted Answer

ultimate

Question 7

One of the challenges of _______ is that prospective customers may not always know or be able to describe what they need and want, yet this is the tool commonly used for this purpose a) relationship marketing b) marketing research c) exchange d) utility

Accepted Answer

b

Question 8

The marketing _______ is the idea that an organization should strive to satisfy consumer needs while trying to achieve its goals

Accepted Answer

concept

Question 9

When a firm has transcended a production or selling orientation, and attempts to discover and satisfy its customer\'s needs and wants, the firm is a) market oriented b) sales oriented c) price oriented d) profit oriented

Accepted Answer

a

Question 10

According to the AMA definition of marketing, who benefits from this activity? a) society b) stakeholders c) political structures d) customers

Accepted Answer

a b d

Question 11

Which two of the following are true of environmental forces? a) their purpose is to apply pressure to organizations to improve global conditions b) social and economic forces are examples c) they are largely beyond the control of the marketer d) promotional and pricing forces are examples

Accepted Answer

b c

Question 12

Customer _______ is the unique combination of benefits received by targeted buyers at a specific price

Accepted Answer

value

Question 13

The marketing manager\'s controllable factors that can be used to solve a marketing problem is known as the  a) marketing mix b) environmental forces c) target marketing d) discovery toolkit

Accepted Answer

a

Question 14

Which two of the following are required of effective market segments? a) buyers will respond similarly to a marketing action b) buyers have high incomes c) buyers are diverse in terms of demographic characteristics d) buyers have common needs

Accepted Answer

a d

Question 15

One of the core aspects of marketing, borrowed from economics, includes a _____, which is a transaction in which things of value are traded between buyer and seller

Accepted Answer

exchange

Question 16

A target market is one or more specific groups of ________ consumer toward which an organization directs its marketing program a) previous b) potential c) financially secure d) identifiable

Accepted Answer

b

Question 17

To be in an organization\'s market, it is not enough for a customer just to want a product because it would satisfy unmet needs; a customer must also have  a) had a previous relationship with the organization b) no existing connection to the company c) the ability to buy, financially and otherwise d) no other options to satisfy these needs

Accepted Answer

c

Question 18

________ marketing links the organization to its customer, employees, suppliers, and other partners for mutual long term benefits

Accepted Answer

relationship

Question 19

A ______ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers a) marketing program b) value map c) relationship matrix d) business plan

Accepted Answer

a

Question 20

A customer value proposition is developed through an effective marketing mix that communicate about what to the customer? a) fairness towards customers b) benefits that satisfy needs c) inexpensive product offerings d) recommendations from previous customers

Accepted Answer

b

Question 21

Who benefits from effective marketing? a) organizations who sell b) accounting departments that need new ideas c) consumers who buy d) society as a whole

Accepted Answer

a c d

Question 22

A _______ is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumer\'s needs and is received in exchange for money or something else of value

Accepted Answer

product

Question 23

To serve both buyers and sellers, marketing, broadly speaking, seeks to do which two of the following? a) identify shareholder gaps b) satisfy the needs and wants of consumers c) discover the needs and wants of prospective customers d) identify appropriate corporate strategy

Accepted Answer

b c

Question 24

In the context of customer value, which of the following are considered benefits? a) corporate partnerships b) after sale service c) production cost d) quality e) convenience

Accepted Answer

b d e

Question 25

________ is the component of the marketing mix that provides a means of communication between a seller and a buyer

Accepted Answer

promotion

Question 26

Goods, services, and ______ are marketing

Accepted Answer

ideas

Question 27

Customer _________ reflects the relationship of benefits to price, or what you get for what you give

Accepted Answer

value

Question 28

The statement by Henry Ford that his automobile customers can have any color they want so long its black is an example of the ________ era in business

Accepted Answer

production

Question 29

CRM stands for

Accepted Answer

customer relationship management

Question 30

Which of the following might be given or received in an exchange when marketing occurs? a) competitive position b) money c) intangible services  d) information e) satisfaction

Accepted Answer

b c d e

Question 31

In addition to focusing on its financial profit responsibility, organizations are increasingly focusing on which of the following a) tax laws b) ethics c) social responsibility d) accounting laws

Accepted Answer

b c

Question 32

__________ is one of the elements of the four Ps that embodies all activities essential to get the product to the right customer when and where that customer wants it

Accepted Answer

place

Question 33

Marketing typically impacts which of the following groups in society a) customers b) owners c) defunct companies d) suppliers

Accepted Answer

a b d

Question 34

_________ is the part of the marketing mix that communicates the value of product to the consumer in many ways, such as advertising, social media, and public relations

Accepted Answer

promotion

Question 35

A company adoption social ______ is purposefully acknowledging its accountability to a larger society

Accepted Answer

responsibility

Question 36

The essence of marketing is that firms gain _____ customers by providing ________ value a) the right number of; the right type of b) superion; product-related c) loyal; unique d) additional; less

Accepted Answer

c

Question 37

Which of the following is NOT an example of marketing? a) california markets itself as a tourist destination b) a student markets himself to this instructors to get better grades c) political candidates market themselves in order to be elected to office d) the marriot markets its hotels to business travelers

Accepted Answer

b

Question 38

When a consumer gives money or something else of value for something he or she values, a marketer would describe this as an _______

Accepted Answer

exchange

Question 39

For marketing to occur, there must be ______ with unsatisfied needs a) one party b) at least one party c) two more parties d) exactly two parties

Accepted Answer

c

Question 40

A marketing program _______ the marketing mix elements to provide a good, service, or idea to prospective buyers a) integrates b) maximizes c) minimizes d) identifies

Accepted Answer

a

Question 41

Manufacturers in the production oriented marketing era were concerned with increasing _________, not with satisfying needs of consumers a) prices b) output c) distribution d) support services

Accepted Answer

b

Question 42

Which two of the following are characteristic of the marketing concept era a) marketing was integrated into each phase of business b) sellers had a tremendous advantage over buyers in the marketplace c) product design focused on consumers\' needs d) consumer had a limited range of products from which to choose

Accepted Answer

a c

Question 43

To get value from their products, customers expect _____ in return for the price a) elimination of doubt b) benefits c) competition d) idealism

Accepted Answer

b

Question 44

In order for marketing to occur, both parties involved must have which two of the following regarding their needs? a) the ability to satisfy a need b) an undiscovered need that could be satisfied c) the desire to satisfy a need d) the future ambition to satisfy a need

Accepted Answer

a c

Question 45

Of the 4 Ps _______ is whatever the buyer gives up in exchange for the product: for example, money, time, or energy

Accepted Answer

price

Question 46

________ is the part of the marketing mix that aim at creating value for the consumer by providing features and benefits for the consumer needs

Accepted Answer

product

Question 47

Which of the marketing mix elements is used to communicate with the consumer

Accepted Answer

promotion

Question 48

Customers that desire to own a Lexus, that can afford to do so, that have the time and ability to visit the dealership would be considered to be in Lexus\' _____

Accepted Answer

market

Question 49

For marketing to occur, there must be two or more parities with a) an existing relationship b) unsatisfied needs c) a desire to create a relationship d) unrecognized needs

Accepted Answer

b

Question 50

Firms or agencies that buy goods and services for their own use or for resale are known as

Accepted Answer

organizational buyers

Question 51

Which of the following statements about marketing is TRUE? a) most laypeople known very little about it b) it isn\'t always easy; thousands of new products fail each year c) it is generally successful as long as you fund it, and most new products succeed d) it is fairly foolproof if you know and apply traditional formulas

Accepted Answer

b

Question 52

The decision about whether or not to sell information about one\'s customers to other organizations, while the practice is not illegal, is ______ issue a) ethical b) social responsibility c) experience d) value

Accepted Answer

a

Question 53

When Apple first introduced the personal computer to the market, creating a new industry, consumers did not know a) what the hard drive capacity would be b) what the benefits would be c) what the exterior design would look like d) what the price would be

Accepted Answer

b

Question 54

Which of the following is an example of an environmental force? a) an initial public offering of a company\'s stock b) a contraction of the economy nationwide c) the development of a recycling program among employees d) the hiring of fifty new employees

Accepted Answer

b

Question 55

You are purchasing a magazine. For marketing to occur, there will be an exchange which must include a) both the magazine and the money b) only information passing between you and the merchant c) only the merchant receiving the money d) only you receiving the magazine

Accepted Answer

a

Question 56

Often there are differing interest among groups internal and external to an organization. How should these be handled? a) the organization must satisfy the customer first and foremost b) the organization should fulfill its obligations to employees first c) the organization should seek a balance among differing interests d) the organization must put the needs of shareholder first

Accepted Answer

c

Question 57

During the sales oriented era a) manufacturers were able to produce more than consumers were able to buy b) goods and services were scarce c) there was little competition between firms and manufacturers enjoyed monopoly power

Accepted Answer

a

Question 58

Marketing is performed by a) individuals only, even if the work in organizations b) organizations that create tangible products only c) organizations that create products only d) either individuals or organizations

Accepted Answer

d

Question 59

New product experts estimate that up to _____% of the new consumable products introduced annually don\'t succeed in the long run

Accepted Answer

94

Question 60

The influence of social responsibility can be illustrated by a firm\'s  a) profits b) sales c) behavior

Accepted Answer

c

Question 61

McDonald\'s provides many items on its menu, primarily to _______ its many types of customers a) measure b) satisfy c) predict d) identify

Accepted Answer

b

Question 62

Which of the following concepts is of LEAST critical important to an organization\'s marketing program? a) customer relationships b) customer value c) organizational structure d) relationship marketing

Accepted Answer

c

Question 63

Which of the following represents a way buyers and seller communicate so that marketing can occur for a magazine? a) organizing the delivery of the magazine to several vendors b) seeing the magazine on display in the bookstore c) purchasing the magazine for the first time d) having the money to buy the magazine

Accepted Answer

b

Question 64

As a marketing manager plans new products to meet consumer needs, she should a) study previous new product launches to learn from the pas successes and failures b) focus entirely on creating a new industry c) simply copy the new products of her competition d) utilize technology to create the most advanced products regardless of what the consumer wants

Accepted Answer

a

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