MKT 120 Chapter 1 TestQuiz – Flashcards

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question
From the macro-marketing perspective, the spatial separation that exists between military equipment manufacturers and the people who use the equipment overseas is directly addressed through this marketing function ______. Select one: a. transporting b. financing c. market information d. storing e. risk taking
answer
a. transporting
question
Marketing ______. Select one: a. tries to make the whole economic system fair and effective b. involves persuading customers to buy your product c. is a social process involving all producers, intermediaries, and consumers d. tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them process
answer
d. tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them
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Marketing can be viewed as ______. Select one: a. relevant to for-profit organizations only b. beginning with the production process c. a set of activities performed by individual organizations d. just selling and advertising
answer
c. a set of activities performed by individual organizations
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Which of the following criticisms focuses most directly on a macro view of marketing, rather than a micro view? Select one: a. Marketing exploits the poor and the uneducated. b. Door-to-door salespeople are trained to be pushy. c. Products often wear our right after the warranty expires. d. Prices for very similar products vary a lot from store to store. e. Much TV advertising is annoying.
answer
a. Marketing exploits the poor and the uneducated.
question
Since individual firms cannot perform all marketing functions, ______ often play a role in the exchange process. Select one: a. nonprofits b. intermediaries c. government regulators d. consumers e. marketing managers
answer
b. intermediaries
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An important step in applying the marketing concept is ______. Select one: a. appointing someone with a marketing management background to be the firm's president b. hiring a marketing consultant c. committing to customer satisfaction d. changing the firm's organizational structure e. changing the firm's management methods and procedures
answer
c. committing to customer satisfaction
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Marketing will NOT take place without ______. Select one: a. intermediaries b. a high standard of living c. collaborators d. two or more parties exchanging something for something else
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d. two or more parties exchanging something for something else
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According to the text, marketing means ______. Select one: a. advertising b. selling c. producing and selling d. selling and advertising e. much more than selling and advertising
answer
e. much more than selling and advertising
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In advanced economies, ______. Select one: a. both supply and demand tend to be homogeneous in nature b. producers and consumers experience a separation of values c. economies of scale make the cost of a product higher d. exchange is simplified by discrepancies of assortment e. there is little need for marketing specialists
answer
b. producers and consumers experience a separation of values
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Customer ______ is the extent to which a firm fulfills a customer's needs, desires, and expectations. Select one: a. support b. service c. opportunity d. forecast e. satisfaction
answer
e. satisfaction
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The primary purpose of the transporting and storing functions of marketing is to overcome ______. Select one: a. the need for marketing specialists b. discrepancies of assortment c. separation in values d. spatial separation e. separation of information
answer
d. spatial separation
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Marketing ______. Select one: a. should begin as soon as goods are produced b. says that marketing should take over all production, accounting, and financial activities c. applies to both profit and nonprofit organizations d. does away with the need for advertising
answer
c. applies to both profit and nonprofit organizations
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Marketing encourages research and ______, the development and spread of new ideas, goods and services. Select one: a. introspection b. assessment c. evaluation d. analysis e. innovation
answer
e. innovation
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Looking at marketing as a social process focuses on ______. Select one: a. personalized marketing b. nonprofit marketing c. macro-marketing d. for-profit marketing e. micro-marketing
answer
c. macro-marketing
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All of the following should be determined by the marketing department of a firm EXCEPT ______. Select one: a. storing the product b. setting the price of the product c. advertising the product d. designing the packaging for the product e. making the product
answer
e. making the product
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Which of the following statements best describes the modern view of marketing? Select one: a. The job of marketing is to get rid of whatever the company is producing. b. Marketing begins with anticipating potential customer needs. c. Marketing should take over production, accounting, and financial services within a firm. d. Production, not marketing, should determine what goods and services are to be developed. e. Marketing is concerned with generating a single exchange between a firm and a customer.
answer
b. Marketing begins with anticipating potential customer needs.
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Societies need a macro-marketing system to ______. Select one: a. identify collaborators b. reduce the need for intermediaries. c. help match supply and demand d. accomplish an organization's objectives only e. create a gap between producers and consumers
answer
c. help match supply and demand
question
When marketing people do long-range planning and the whole company is guided by the "marketing concept," the company has entered the ______ era. Select one: a. marketing department b. production c. customer satisfaction d. consumerism e. marketing company
answer
e. marketing company
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A macro-marketing system should ______. Select one: a. match supply and demand and accomplish a society's objectives b. provide everyone with the same goods and services c. be part of a market-directed economy, not a command economy d. depend solely on a society's political institutions
answer
a. match supply and demand and accomplish a society's objectives
question
The aim of marketing is to ______. Select one: a. eliminate the need for exchanges b. facilitate a single transaction c. identify customers' needs and meet those needs so well that the product almost "sells itself" d. help create a pure subsistence economy e. persuade customers to buy the firm's product
answer
c. identify customers' needs and meet those needs so well that the product almost "sells itself"
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