Deck 1: Why Is Marketing Management Important

Question 1

Customers typically do not mind paying for purchases, if they like what they are purchasing.

Answer 1

True

Question 2

The term "market" sounds like it involves selling simple, tangible goods, but as you know, hardly anything can be
marketed.

Answer 2

False

Question 3

Many management gurus believe that marketing has succeeded so well that it really isn't a function in an
organization anymore.

Answer 3

True

Question 4

John just purchased a new Honda Civic from the local Honda dealership. Even though John was happy and Honda made a profit, this was not a symbiotic relationship.

Question 5

These days we live in a truly product-oriented and product-empowered marketing world.

Question 6

Most companies would agree that taking in profits is much more important than keeping customers happy.

Question 7

Marketers help athletes, celebrities, and politicians with their images in their respective marketplaces (to fans and agents, intelligentsia, or the public).

Question 8

Some things that can be marketed include goods, services, experiences, events, and people.

Question 9

A marketer for the American Heart Association would be responsible for their push of the message to eat foods lower in fat.

Question 10

R&D people don't understand marketing because they are too concerned with making the latest and greatest
invention.

Question 11

One of the factors currently stressing marketers is the pressure to show results.

Question 12

Marketing is defined as an exchange between a firm and its customers.

Question 13

In an exchange, the customer wants something from the company but the company wants nothing from the customer.

Question 14

Marketers are under a lot of pressure to show results. There are a lot of marketing activities for which results can be measured.

Question 15

Angela, who owns her own green cleaning service, is a marketer when she promotes her business to new clients.

Question 16

If you ask the average person, "What is marketing?" you might hear something like, "Marketers make people buy stuff they don't need and can't afford."

Question 17

Marketers try to figure out what customers want and then they try to figure out how to provide it and make money doing so.

Question 18

Marketing can be used to educate the public.

Question 19

Marketing shows the evolution of markets. This is the change from an industry just having production and sales to having true relationships with its customers.

Question 20

Pfizer does not use direct-to-consumer ads to push their pharmaceutical drugs, as it is unlikely patients will ask their doctor for a particular brand name.

Question 21

Marketing will both enhance your career and make the world a better place.

Question 22

You'll always be a step ahead of your competition if you simply think about your company.

Question 23

Meredith owns a consulting firm that advises on intellectual property. She would hire a marketer but she doesn't
because you cannot market a consulting firm.

Question 24

Sara works for a golf products company. In order for Sara to best answer the question, "What do my customers want?," she plays golf and tries out the equipment.

Question 25

In order for marketing to have an equal vote in company decisions, it needs to quantify the effectiveness of marketing programs. All other departments in a company translate progress into financial terms, and marketing needs to do this as well.

Question 26

Marketing management is the overseeing of the processes of the 5Cs, STP, and 4Ps components.

Question 27

Diana is the marketing vice president at Company ABC. As she assesses any particular business problem or opportunity in terms of general analysis, she should review the 5Ps.

Question 28

The 5Cs, STP, and 4Ps diagram is used at the beginning of every chapter so that students can see a framework depicting how all the marketing pieces come together to form the whole picture.

Question 29

There are many contingencies that modify marketing plans.

Question 30

The outcome orientation style of ethics is called deontological ethics.

Question 31

The 5Cs, STP, and 4Ps operate interdependently.

Question 32

John is a marketer for Verizon. He puts together sales promotions and advertisements for a new cell phone. He is
applying the "product" part of the 4Ps.

Question 33

"How do I do this-show me what to do so I can be successful!," is one of the issues that is covered in each
chapter of the textbook.

Question 34

John, an MBA student, finds the textbook useful because each chapter is organized by a framework that shows how all the marketing pieces come together to form the whole picture.

Question 35

When you try to find out how customers vary in their preferences, needs, and resources you are in the "Targeting"
phase of STP.

Question 36

Most companies perform the marketing function easily.

Question 37

A context question in a situational analysis might be: "What is happening in our industry that might reshape our future business?"

Question 38

Great marketing is based on sound, logical-emotional and physical-laws of human and organization behavior.

Question 39

Optimal business solutions should reflect a complete knowledge of how the 5Cs, STP and 4Ps change with changes in customers, competitors, and the legal environment.

Question 40

STP stands for segmentation, targeting and positioning.

Question 41

What is one of the largest factors stressing out marketers these days?

A) the pressure increase stock price
B) the pressure to prove they are valuable
C) the pressure to show results
D) the pressure to produce more money than R&D

Question 42

Which of the following is NOT a part of STP?

A) segmentation
B) positioning
C) targeting
D) All are part of STP

Question 43

One reason marketers want to quantify how effective their programs are is to show that they increase profits. The other reason marketers want to quantify their effectiveness is to .

A) try to raise their rank among the function
B) have a seat at the table with the CEO, CFO, etc.
C) be able to direct sales
D) make more effective promotions

Question 44

Due to marketing's success in business, what do management gurus think about marketing's role in a company?

A) they think its role is to direct sales
B) it takes no special skill to be a good marketer anymore
C) that it's not just a function anymore
D) it's the most important aspect

Question 45

Why do accounting and finance need to acknowledge the importance of marketing?

A) because marketing generates sales
B) because the CEOs do
C) because marketing generates buzz
D) because a monopoly is the only way to make a profit

Question 46

Marketers try to figure out what want and then they try to figure out how to provide it and make money doing so.

A) business owners
B) customers
C) advertisers
D) companies

Question 47

The 4Ps include all of the following EXCEPT:

A) positioning
B) price
C) product
D) place

Question 48

If you ask the average person, "What is marketing?," one of the things you might hear is:

A) Marketing is sales and advertising
B) Marketing is fun
C) Marketing is the backbone of all business
D) Marking is not profitable

Question 49

What is the result companies see from happier customers due to marketing?

A) Companies are less profitable
B) Companies market less
C) Companies are more profitable
D) Companies see no results

Question 50

Advertising's goal is to enhance .

A) brand image
B) profit
C) marketing
D) purchases

Question 51

Which of the following is defined to be an exchange between a firm and its customers?

A) advertising
B) consumer behavior
C) marketing
D) finance

Question 52

Fundamentally, the best marketers put themselves in the place of their .

A) company
B) customers
C) competitors
D) friends

Question 53

Marketers help/work with all of the following EXCEPT:

A) athletes
B) hotels
C) department stores
D) pets

Question 54

Marketing is thought to be evidence of an evolved .

A) society
B) business
C) customer
D) market

Question 55

If companies are good and if they're lucky, the exchange continues iterating between the customer and the company, the tie between them.

A) strengthening
B) weakening
C) distracting
D) exhausting

Question 56

What do the letters CMO represent?

A) Chief Management Officer
B) Central Marketing Organization
C) Central Management Officer
D) Chief Marketing Officer

Question 57

Which of the following is NOT part of the 5Cs?

A) context
B) customer
C) corporation
D) competitors

Question 58

What is today's marketplace focused more on?

A) business
B) customers
C) product
D) price

Question 59

A company's marketing executives should assess the in terms of a general analysis of a business problem or opportunity the company is facing.

A) business situation
B) 5Cs
C) STP
D) ARA

Question 60

What did the early marketplace primarily focus on?

A) product
B) promotion
C) price
D) place

Question 61

Marketing can make customers happier, which makes companies .

A) more profitable
B) less vulnerable
C) more operational
D) more ductile

Question 62

Great marketing is NOT .

A) soft
B) economic
C) logical
D) psychological

Question 63

In each chapter you will see over and over again

A) consequentialism ethics
B) marketing terminology
C) the 5Cs, STP, and 4Ps
D) marketing concepts

Question 64

The outcome orientation perspective of ethics is called .

A) psychological
B) philosophical
C) deontological
D) consequentialism

Question 65

Each chapter in the textbook answers what question?

A) Which of the 5Cs is covered in this chapter?
B) What is the topic in this chapter?
C) What makes a great marketer?
D) What do you need to do to market your own business?

Question 66

What is marketing NOT all about?

A) finding out what customers like
B) providing what customers like
C) making a profit
D) organizing the structure of a business

Question 67

A company has its best chance at keeping its customers happy if it's in close with them.

A) context
B) communication
C) cooperation
D) support

Question 68

The marketing framework can be used when you're .

A) buying a car
B) working on a case for class
C) trying to decide where to eat lunch
D) doing your taxes

Question 69

The questions and issues that the reader can expect to understand better in each chapter is revisited at the end of the chapter in a list format called .

A) Managerial Recap
B) Managerial Checklist
C) Question Recap
D) Marketing Recap

Question 70

The textbook will assume that will be used for data intake in a company.

A) experts
B) the Internet
C) polls
D) focus groups

Question 71

What is the best way to stay 5 steps ahead of the competition?

A) focus on profits
B) remain customer centric
C) focus on what the CEO wants
D) study the competition

Question 72

Which of the following is NOT a question that each chapter in the textbook answers?

A) Why does it matter?
B) What is the topic in this chapter?
C) How do I do this?
D) What do you need to do to market your own business?

Question 73

What order is correct for the marketing framework?

A) 5Cs, 4Ps, STP
B) 4Ps, 5Cs, STP
C) 5Cs, STP, 4Ps
D) STP, 5Cs, 4Ps

Question 74

The process orientation perspective of ethics is called .

A) psychological
B) philosophical
C) deontological
D) consequentialism

Question 75

The textbook uses the over and over so that you will pick it up by osmosis.

A) marketing background
B) customer model
C) 5Cs, STP, and 4Ps
D) Maslow model

Question 76

What can be marketed?

A) vacation destinations
B) professional athletes
C) just about anything
D) clothes

Question 77

Great marketing is based on laws of human and organization behavior.

A) philosophical
B) feelings about
C) intuitive
D) economic and psychological

Question 78

and are the central players in the marketing exchange.

A) Context, customer
B) Collaborator, competitor
C) Context, company
D) Customer, company

Question 79

The book gives a clear knowledge of marketing at both the strategic and conceptual level as well as the .

A) virtual level
B) tactical, hands-on level
C) lower level
D) psychological level

Question 80

The question, "Will customers want what your company is prepared to produce?," best describes with of these 4Ps?

A) product
B) price
C) place
D) promotion