Deck 1: Why Is Marketing Management Important

Question 1

Direct-to-consumer ads are not used to market pharmaceutical drugs because it is unlikely patients will ask their doctor for a particular brand name.

Answer 1

False

Question 2

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

Answer 2

False

Question 3

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.

Answer 3

True

Question 4

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

Question 5

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

Question 6

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 7

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

Question 8

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

Question 9

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 10

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

Question 11

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

Question 12

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

Question 13

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

Question 14

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

Question 15

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

Question 16

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

Question 17

Marketing can be used to educate the public.

Question 18

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 19

Customers typically do not mind paying for purchases if they really want what they are purchasing.

Question 20

Results can be measured for a number of marketing activities.

Question 21

Many contingencies modify marketing plans.

Question 22

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

Question 23

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 24

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 25

When Diana, the marketing vice president, assesses any business problem or opportunity in terms of general analysis, she should review the 5Ps.

Question 26

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 27

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

Question 28

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

Question 29

For marketing to have an equal vote in company decisions, it needs to quantify the effectiveness of marketing programs in financial terms.

Question 30

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

Question 31

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

Question 32

STP stands for selling, targeting, and positioning.

Question 33

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 34

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

Question 35

Marketing research isn't needed if a company listens to its customers.

Question 36

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

Question 37

Most companies perform the marketing function easily.

Question 38

If you keep an ongoing read on the 5Cs, you will be better informed as you approach the STP task.

Question 39

The outcome orientation style of ethics is called deontological ethics.

Question 40

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

Question 41

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 42

One reason marketers translate their efforts into dollars is to

A) reduce the importance of marketing expenses.
B) make business decisions with the company's executives.
C) be able to direct sales.
D) communicate with customers.

Question 43

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) Marketing is not profitable.

Question 44

The 4Ps include

A) positioning.
B) people.
C) profit.
D) place.

Question 45

In a marketing exchange, a customer

A) seeks profits.
B) offers benefits.
C) seeks payment.
D) expects to pay.

Question 46

Marketing is thought to be evidence of an evolved

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

Question 47

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 48

Which of the following is part of STP?

A) sales
B) positioning
C) teamwork
D) place

Question 49

When the company's mind-set was, "Let's build a better mouse trap," marketers were focused on

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

Question 50

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 51

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) It is a way to think about business.
D) It is not needed.

Question 52

Advertising's goal is to enhance

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

Question 53

Which of the following is one of the 5Cs?

A) context
B) correlation
C) culture
D) contact

Question 54

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) destroying
D) ending

Question 55

What is today's marketplace focused more on?

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

Question 56

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

A) the pressure to 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 57

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

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

Question 58

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 59

What result do 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 60

Abigail is the Chief Marketing Officer of ABC Company.What is her role after ABC's recent coupon promotion?

A) make products that customers want
B) visit customers
C) research product improvements
D) estimate effectiveness of the promotion

Question 61

__________ and __________ are the central players in the marketing exchange.

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

Question 62

Marketing should be understood at both the strategic and conceptual levels as well as the

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

Question 63

Which order is correct for the marketing framework?

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

Question 64

Which of the following provides a systematic way to think about marketing?

A) the 5Cs
B) marketing framework
C) advertising principles
D) business ethics

Question 65

Marketing can make customers happier, which makes companies

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

Question 66

Data intake in a company most often assumes the use of

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

Question 67

What is the long-term goal of advertising?

A) quantifying the effectiveness of marketing
B) improved marketing
C) enhanced brand image
D) bump in sales

Question 68

The first step in the marketing management framework is

A) the 5Cs.
B) the 4Ps.
C) STP.
D) segmentation.

Question 69

The outcome orientation perspective of ethics is called

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

Question 70

Communicating a product's benefits clearly to the intended target customers occurs during

A) segmentation.
B) promotion.
C) positioning.
D) pricing.

Question 71

Joan, an MBA student learning marketing management, typically wants to see a framework that forms

A) company ethics.
B) market segments.
C) the 5Cs.
D) the big picture.

Question 72

Place is where

A) the company is located.
B) the product is manufactured.
C) the customer is located.
D) the product is sold.

Question 73

The ethics orientation toward fair process is

A) teleological.
B) justilogical.
C) deontological.
D) consequentialism.

Question 74

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

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

Question 75

A company has its best chance at keeping its customers happy if it

A) sells products in many locations.
B) communicates with them.
C) competes with other companies.
D) has low prices.

Question 76

Which of the following questions should Emily ask first when she conducts a situational analysis?

A) Where will customers buy our products?
B) What are my company's strengths?
C) Who are the competitors we must consider?
D) Will customers want what our company is prepared to produce?

Question 77

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 78

The economy is part of the __________ considered during the general analysis of a business situation.

A) context
B) place
C) promotion
D) collaborators

Question 79

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

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

Question 80

The question, "Will customers want what your company is prepared to produce?," best describes

A) product.
B) segmentation.
C) place.
D) collaboration.