Marketing 3150 Chapter 1 Quiz – Flashcards

How has the Internet MOST affected companies and​ customers? A. The Internet has lowered prices. B. The Internet has made advertising easier. C. The Internet has made creating an image more important. D. The Internet has increased the potential customer base. E. The Internet has allowed consumers to take marketing content and share it.

When is the selling concept typically used by​ marketers? A. For seasonal items B. When the company seeks the​ long-term welfare of society C. When the product is of high quality D. For the purchase of unsought goods E. When the company focuses on customer needs

The act of obtaining a desired object from someone by offering something in return is known as which of the​ following? A. A trade B. A barter C. A sale D. A swap E. An exchange

Which marketing philosophy holds that consumers will not buy enough of the​ firm's products unless it undertakes a​ large-scale selling and promotion​ effort? A.Production concept B. Societal marketing concept C. Selling concept D. Marketing concept E.Product concept

How does the new concept of marketing differ from the old concept of​ marketing? A. The new concept focuses on having a​ well-developed product. B. The new concept focuses on making money. C. The new concept is more cost efficient. D. The new concept requires less work from marketing executives. E. The new concept focuses on the needs of the customer.

June and Beatrice have started a new​ company, Junbee​ Inc., and are having trouble deciding which marketing path to take to drive sales. June believes they should follow a​ make-and-sell philosophy that focuses on improving their​ product, whereas Beatrice believes they should be more​ customer-oriented and find the right products for their customers. Which of the following BEST describes this​ situation?

Advantage Airlines has instituted a loyalty rewards program that rewards customers with free​ Wi-Fi, seat​ upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines​ using? A. ​Customer-perceived value B. ​Mass-media marketing C. Consumer-generated marketing D. Frequency marketing program E. Club marketing program

You can practice sustainable marketing by adhering to general practices. Which of the following would allow a company to profit by serving immediate needs and​ long-term interests but not necessarily be a practice of sustainable​ marketing? A. Deliver value in a socially and environmentally responsible way. B. Practice caring capitalism by being civic minded and responsible. C. Help protect the natural environment. D. Delay responding to environmental legislation as it is instituted. E. Seek ways to profit by serving the​ long-run interests of customers and communities.

When a company divides the market into groups of​ customers, it is engaging in which of the​ following? A. Societal marketing B. Market segmentation C. Differentiation D. Target marketing E. Demand management

What is MOST likely to cause a variation in​ customer-perceived value? A. The cost to produce a product B. The cost of advertising to the target market C. The​ customer's satisfaction with a product D. The​ customer's opinion of what constitutes value E. The popularity of a product to the customer

Which of the following is NOT one of the four Ps of the marketing​ mix? A. Profit B. Place C. Price D. Product E. Promotion

Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available​ technology, including online streaming sites like YouTube and Hulu. The videos​ Vince's Video does sell are often out priced by versions coming from China or​ Taiwan, or they are accused of damaging the environment. Which of the following marketing impacts has not likely affected​ Vince's Video? A. ​Not-for-profit marketing B. Rapid globalization C. The digital age D. Sustainable marketability E. The changing economic environment

Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as​ _____________. A. the marketing concept B. customer equity C. market offerings D. ​customer-engagement marketing E. the marketing mix

The ultimate goal of the marketing process is to do which of the​ following? A. Develop relationships with customers. B. Evaluate customer needs. C. Determine a target market. D. Create a quality product. E. Capture value from customers.

Bob's Bicycle Sales and Repair is a brand new company. From a marketing​ standpoint, what is the FIRST thing​ Bob's Bicycle Sales and Repair needs to​ do? A. Advertise the company as a location in which to purchase bicycles or repair services. B. Develop the best bicycle selection to sell. C. Determine who in the community wants or needs a bicycle or repair service. D. Develop relationships with the customers who come to purchase bicycles or repair services. E. Develop a plan to sell as many bicycles as possible.