MKT 120 Chapter 1 TestQuiz
c. market information
e. risk taking
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
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
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.
c. government regulators
e. marketing managers
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
b. a high standard of living
d. two or more parties exchanging something for something else
c. producing and selling
d. selling and advertising
e. much more than selling and advertising
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
a. the need for marketing specialists
b. discrepancies of assortment
c. separation in values
d. spatial separation
e. separation of information
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
a. personalized marketing
b. nonprofit marketing
d. for-profit marketing
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
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.
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
a. marketing department
c. customer satisfaction
e. marketing company
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
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
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