question

Marketing is the process of

answer

creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment

question

The focal point of all marketing activities is

answer

customers

question

Which of the following best describes Nintendo's initial strategy when introducing the Wii?

answer

Increase its sales of game consoles by broadening the appeal of gaming to all ages

question

The definition of marketing implies that ________ should receive benefits from exchange relationships

answer

both customers and businesses

question

The primary value that a marketer expects to receive from a customer in an exchange relationship is

answer

the price charged for the product

question

A target market

answer

is a specific group of customers on whom a company focuses its marketing efforts

question

Coca-cola is aiming its Diet Coke Plus (with vitamins and minerals) at health-conscious customers. These health-conscious customers represent Coke's

answer

target market

question

SunnyD is aimed at mothers with children under age 12. These mothers represent SunnyD's

answer

target market

question

Distribution, price, promotion, and product are all elements of

answer

the marketing mix

question

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

answer

Product, price, distribution, and promotion variables

question

The marketing mix is built around the

answer

consumer

question

Marketing managers strive to develop a marketing mix that

answer

matches the needs of the target market

question

The product variable of the marketing mix can include all of the following except

answer

consumer perception of the product price

question

The three basic forms that a product can take are

answer

services, ideas, and goods

question

A physical product you can touch is a

answer

good

question

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a

answer

service

question

which of the following companies is the best example of a service marketer

answer

FedEx

question

Mother Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets

answer

ideas

question

The Church of the Latter Day Saints has used advertising for many years to market its

answer

ideas

question

Which of the following is most likely to be an idea marketer

answer

abuse counselor

question

Deciding to add gel insoles to its running shoes would be a change in the _______ element of the marketing mix for Nike

answer

product

question

Making modifications to packaging or brand names involves the ______ component of the marketing mix

answer

product

question

Issues of inventory levels and storage costs are both concerns to the _______ variable of the marketing mix

answer

distribution

question

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

answer

the best way to distribute his products

question

Consumers buying products online have dramatically affected the _____ variable of the marketing mix

answer

distribution

question

Changing the hours of operation for a service business involves the _____ component of the marketing mix

answer

distribution

question

Which of the following scenarios involves the distribution element of the marketing mix?

answer

Deciding whether or not to have retail outlets in addition to a website

question

The element of the marketing mix used to increase awareness of a product or company is

answer

promotion

question

When DuPont develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the products benefits. This called for activity in which of the following marketing mix variables?

answer

Promotion

question

Boca Burger's website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ______ marketing tool

answer

Promotional

question

When Burger King offers 99-cent Whoppers to increase store traffic, it is altering which aspect of the marketing mix?

answer

Price

question

When DataComp Corp., a producer of computer software, delayed the introduction of its new spreadsheet program to modify the package, its scheduled magazine advertisements announcing the new product needed to be revised. In this case, a change in the _______ variable caused changes in the ________ variable of the marketing mix

answer

product; promotion

question

Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables?

answer

competition

question

The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

answer

Provision or transfer of goods, services, or ideas in return for something of value

question

For an exchange to occur, four conditions must exist: first, two or more individuals, groups or organizations must participate, and each must possess "something of value" that the other desires; second, the exchange must provide a benefit or satisfaction to both parties; third, each must have confidence in the promise of the "something of value" held by the other; and the fourth,

answer

to build trust, parties to the exchange must meet expectations

question

Mark goes to a vending machine, deposits $1.00, and receives a Sprite. Which one of the following aspects of the definition of marketing is illustrated here?

answer

Exchange

question

Marketing facilitates exchanges relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

answer

Satisfaction for both the buyer and seller

question

Which of the following statements about marketing environment forces is not correct?

answer

They fluctuate slowly and thereby create threats to a firm's marketing mix

question

The forces of the marketing environment include

answer

political, legal and regulatory, sociocultural, technological, economic, and competitive

question

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influences the firm's strategy

answer

marketing environment

question

Which of the following best characterizes the forces of the marketing environment?

answer

The forces change dramatically and quickly, and a change in one force is likely to affect the other forces

question

A change in the minimum drinking age in any given state illustrates a change in the the ______ for Miller Brewing

answer

marketing environment

question

StarKist Tuna announced a dolphin-safe policy and stopped buying tuna from fishing vessels that net dolphins. This decision indicates a response to concerns about

answer

the marketing environment

question

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

answer

government regulations

question

The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they

answer

affect a marketing manager's decisions and actions by influencing buyers' reactions to the firm's marketing mix

question

The marketing environment is best described as being

answer

dynamic and changing.

question

The marketing concept is best defined as

answer

a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.

question

According to the marketing concept, an organization should try to

answer

provide products that satisfy customers' needs and allow the organization to achieve its goals.

question

The marketing concept is a management philosophy that affects

answer

all efforts of the organization

question

The marketing concept focuses on

answer

satisfying customers' needs in a way that helps to achieve organizational objectives.

question

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also

answer

achieve the organization's goals

question

Which one of the following statements by a company president best reflects the marketing concept?

answer

We have organized our business to make certain that customers get what they want.

question

The marketing concept affects

answer

all organizational activities

question

When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies?

answer

Marketing concept

question

The Jackson Hewitt company wants to adopt the marketing concept as a business philosophy. To be consistent with this decision, it should adopt which of the following philosophies?

answer

The customer is always right.

question

The marketing concept is

answer

a management philosophy.

question

As the Industrial Revolution came to the United States, most firms operated in a(n) ___________ orientation.

answer

production

question

Which of the following best describes the acceptance of the marketing concept by American organizations?

answer

The marketing concept has yet to be fully accepted by all organizations

question

Which of the following is not an example of the implementation of the marketing concept?

answer

Burger King reduces the labor costs to produce its sausage-egg biscuits.

question

Health Care Systems, Inc. rolls out an innovative nurse-on-call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept?

answer

The customer information system

question

Marketers use the term "___________" to describe establishing long-term, mutually satisfying buyer-seller relationships.

answer

relationship marketing

question

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as

answer

relationship marketing.

question

A junior marketing executive at MegaGrain Cereals suggests increasing the package size and price of its best-selling brand without increasing the amount of cereal inside the box. Her superior warns that this might be a bad idea because MegaGrain's long-term survival, like most companies, depends on

answer

creating and maintaining satisfying exchange relationships.

question

In managing customer relationships, the three primary ways profits can be obtained are by

answer

enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

question

Customer relationship management (CRM) begins its focus on customers with

answer

information

question

Long-term relationships with profitable customers is the key objective of

answer

customer relationship management

question

Customer relationship management focuses on using ___________ about customers to create marketing strategies.

answer

information

question

________ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

answer

value

question

The equation a buyer applies to assess a product's value is

answer

value = customer benefits - customer costs

question

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

answer

monetary price

question

Which of the following would not be a customer cost considered in determination of product value?

answer

Benefits received in the exchanged for the products

question

Scott, a buyer for a medium-sized company, is assessing the value of competing software products for use in his firm. Which of the following would not be a customer benefit considered in his determination of this product's value?

answer

Monetary price

question

Taco Bell is introducing some of its products into supermarkets, vending machines, college campuses, and other locations to increase its product availability and convenience. One reason Taco Bell is doing so is to

answer

increase customer value

question

Marketing management is defined as a process of

answer

planning, organizing, implementing, and controlling marketing activities

question

______ is the degree to which an exchange helps achieve an organization's objectives.

answer

effectiveness

question

______ refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges

answer

efficiency

question

A systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control describes which of the following marketing management activities?

answer

planning

question

Developing the internal structure of a firm's marketing unit relates to which of the following marketing management activities?

answer

organizing

question

_________ of marketing plans hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the marketing unit.

answer

implementation

question

If McDonald's runs a promotion advertising Big Macs for $1.50, it must ensure that each of the company's restaurants has sufficient staff and product on hand to handle expected demand. This relates to which of the following marketing management activities?

answer

implementation

question

_________ is the process of establishing performance standards, comparing actual performance with established standards, and reducing the difference between desired and actual performance.

answer

marketing control

question

The Internet has been used as a search engine to find information about a marketer's product or service by about ____ percent of adults in the U.S.

answer

91

question

Initiatives intended to improve an organization's positive impact on society and the natural environment are called

answer

green marketing

question

Online sales account for about ____ percent of all retail sales in the U.S.

answer

5

question

For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?

answer

one-half

question

In today's market environment, you might pay $15 for a CD by your favorite musical artist. Approximately how much of that price goes to activities related to marketing (promotion, distribution, profit margins)?

answer

$7.50

question

Marketing activities are

answer

used by all sizes of organizations including for-profit, nonprofit, and government agencies.

question

Marketing activities

answer

help sell an organization's products and generate financial resources for the firm.

question

Marketing knowledge and skills

answer

enhance consumer awareness and help provide people with satisfying goods and services.

question

The public is becoming more aware of how marketers' activities affect the welfare of consumers and society. As a result, more firms are working to

answer

create a responsible approach to developing long-term relationships with customers and society.

question

Approximately what percentage of civilian workers in the United States performs marketing activities?

answer

25 to 33 percent

question

Marketing consists primarily of selling and advertising

answer

false

question

The broadest and simplest definition of marketing states that it is the development and efficient distribution of products for consumer segments.

answer

false

question

Customers are the focal point of all marketing activities.

answer

true

question

A family that organizes and advertises a garage sale is performing marketing activities.

answer

true

question

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

answer

true

question

A target market is always defined by demographics

answer

false

question

Target markets can be people who buy the product but do not necessarily use the product.

answer

true

question

The marketing mix consists of three major variables: product, price, and distribution

answer

false

question

In marketing, a product can be a good or a service but not an idea

answer

false

question

Marketing efforts do not involve the design and development of products

answer

false

question

Products can be goods, services, or ideas

answer

true

question

Services are provided by applying human and mechanical efforts to people or objects

answer

true

question

The actual physical production of goods is a marketing activity

answer

false

question

Promotion can help sustain interest in established products that have long been available.

answer

true

question

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

answer

true

question

Customers are interested in a product's price because they are concerned about the value obtained in an exchange

answer

true

question

price is seldom used as a competitive tool

answer

false

question

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization

answer

false

question

For an exchange to occur, at least one of the parties must be willing to give up his or her "something of value."

answer

false

question

marketing activities do not always result in exchanges

answer

true

question

The outcomes of a marketer's decisions and actions may be affected by the variables in the marketing environment.

answer

true

question

changes in the marketing environment always hurt marketing efforts

answer

false

question

the marketing environment is a set of static, unchanging surroundings

answer

false

question

The marketing concept stresses that a business organization can best achieve its goal by providing customer satisfaction through coordinated activities.

answer

true

question

Achievement of the firm's overall goals is part of the marketing concept

answer

true

question

The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the overall goals of the organization

answer

true

question

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.

answer

false

question

The marketing concept is a management philosophy, not a second definition of marketing

answer

true

question

The marketing concept deals only with marketing activities

answer

false

question

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.

answer

false

question

The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities

answer

false

question

The marketing concept stresses that an organization can best achieve its objectives by being customer-oriented.

answer

true

question

The marketing concept developed out of a sequence of three eras: the production orientation, the marketing orientation, and the industrial orientation.

answer

false

question

During the marketing orientation, businesspeople realized that if they could produce products efficiently, customers would buy them.

answer

false

question

During the marketing orientation, businesspeople realized that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.

answer

false

question

A marketing orientation requires the organization-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments, and organization-wide responsiveness to it.

answer

true

question

To implement the marketing concept, an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

answer

true

question

To satisfy customers' objectives as well as its own, a company must coordinate all its activities

answer

true

question

At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships.

answer

true

question

Relationship marketing is short-term, mutually beneficial arrangements in which the buyer and seller focus on the creation of satisfying exchanges.

answer

false

question

Customer relationship management is the use of information about customers to create marketing strategies that develop and sustain desirable customer relationships.

answer

true

question

In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.

answer

false

question

Value= customer costs- customer benefits

answer

false

question

basic and extended warranties can reduce risk, a major customer cost

answer

true

question

customer benefits include time and effort

answer

false

question

the process people use to determine the value of a product is not highly scientific

answer

true

question

Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently

answer

true

question

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control

answer

true

question

Organizing marketing activities hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the unit.

answer

false

question

Implementation of marketing plans requires motivating marketing personnel, coordinating their activities, and integrating their activities both with those in other areas of the company and with the marketing efforts of personnel in external organizations.

answer

true

question

marketing costs consume about one-quarter of a buyer's dollar

answer

false

question

marketing costs consume about one-half of a buyer's dollar

answer

true

question

For a business organization to remain healthy and to survive, it must sell products and make profits.

answer

true

question

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

answer

true

question

Approximately 20 percent of civilian employees in this country perform marketing activities.

answer

false

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