Deck 1: The Marketing Concept

Question 1

By looking at different marketing definitions, evaluate what is meant by the marketing concept, and how it affects business performance.

Answer 1

This question challenges students to think critically about the role of marketing in business and its link with business performance. Should marketing be seen as a business process that is solely dedicated to creating profit and to producing goods and services at the least cost? Students may be directed towards which discusses "popular marketing myths" and be encouraged to look at the link between marketing and selling, marketing and advertising and the role of marketing in strategy formulation and planning. This is a reflective question and students are to be encouraged to consider whether marketing is a basic departmental function or whether it is an activity that is engaged in by everyone in an organization. This perspective will depend upon the definition being used and students are encouraged to look at a variety of different definitions and how days impact upon business performance.

Question 2

A target market:

A) involves a large number of customers.
B) is a specific group of customers on whom a company focuses its marketing efforts.
C) already has several competitors vying for customers' business.
D) is the same as a salesperson's prospective client list.
E) is a customer group classified as people with similar demographic characteristics.

Answer 2

B

Question 3

Which of the following statements about marketing environment forces is correct?

A) They influence customers by affecting their lifestyles, standards of living, and preferences and needs for products.
B) They do not influence customers' reactions to a firm's marketing mix.
C) They fluctuate slowly and thereby create threats to a firm's marketing mix.
D) They never fluctuate quickly.
E) They do not influence the way a marketing manager performs certain marketing activities.

Answer 3

A

Question 4

Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables?

A) Product
B) Price
C) Distribution
D) Competition
E) Promotion

Question 5

The focal point of all marketing activities is ______

A) products.
B) the marketing mix.
C) profits.
D) sales.
E) customers.

Question 6

The three basic forms that a product can take are _____

A) markets, products, and images.
B) goods, ideas, and intangibles.
C) brands, services, and tangibles.
D) services, ideas, and goods.
E) ideas, services, and things.

Question 7

Explore the role of marketing management and describe its major components.

Question 8

Distribution, price, promotion, and product are all elements of_____

A) marketing strategy.
B) the marketing mix.
C) a target market.
D) a consumer good.
E) a business strategy.

Question 9

Marketing is the management process:

A) of promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders.
B) responsible for identifying, anticipating and satisfying customer requirements profitably.
C) for delivering a standard of living to a society.
D) of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives.
E) focusing on customers' needs.

Question 10

Using the example of Ikea discuss the marketing concept through the various types of orientation.

Question 11

Explain, using examples, the way in which knowledge of value based marketing is beneficial for all students.

Question 12

Define the term target market and provide an example for a product of your choice.

Question 13

What does it mean for a company to be marketing-oriented? What are the most important factors involved in being marketing-oriented?

Question 14

Which of the following is most likely to be an idea marketer?

A) Car salesperson
B) Airline pilot
C) Lawyer
D) Marriage counselor
E) Orthodontist

Question 15

Discuss the concept of social marketing and why it is an important challenge to marketers.

Question 16

Which of the following scenarios involves the distribution element of the marketing mix?

A) Deciding whether or not a certain product should continue to be sold
B) Determining whether an advertising message would be more effective on television or in magazines
C) Choosing between a company jet or the airlines for executive travel
D) Deciding whether or not to have retail outlets in addition to a website
E) Developing a new warranty policy for an existing product

Question 17

The marketing mix is built around _____

A) the product, brand or position
B) company technology
C) buyer or consumer satisfaction.
D) employee satisfaction
E) the retail outlet.

Question 18

Define the term value, and give example of how different firms are able to add value.

Question 19

What is meant by the term relationship marketing? How does relationship marketing affect the customer?

Question 20

The definition of marketing implies that ____ should receive benefits from exchange relationships.

A) only customers
B) only businesses
C) company management
D) both customers and businesses
E) only the most important customers

Question 21

The marketing concept is:

A) a management philosophy.
B) synonymous with exchange.
C) a component of the marketing mix.
D) a function of the marketing environment.
E) focused solely on satisfying customer objectives.

Question 22

Promotion can help sustain interest in established products that have long been available.

Question 23

Marketing management is defined as a process of:

A) maintaining an appropriate and efficient marketing mix for a target market.
B) establishing performance standards and evaluating actual performances against these standards.
C) providing products that satisfy customers' needs through a coordinated set of activities.
D) facilitating satisfying exchanges between an organization and its customers.
E) planning, organizing, implementing, and controlling marketing activities.

Question 24

_____ of marketing plans hinges on coordination of marketing activities, motivation of marketing personnel, and effective communication within the marketing unit.

A) Implementation
B) Planning
C) Organizing
D) Marketing control
E) Strategic planning

Question 25

The forces of the marketing environment include:

A) political, legal and regulatory, sociocultural, technological, economic, and competitive.
B) sociocultural, legal, regulatory, economic, and competitive.
C) legal, regulatory, political, and sociocultural.
D) competitive and noncompetitive forces that affect most lifestyles.
E) fairly static components.

Question 26

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

A) demographics
B) buying behaviour
C) retailer information
D) personality differences
E) stock market cycles

Question 27

Marketing activities:

A) are aimed at persuading customers through advertising.
B) involve mainly distribution and promotion decisions.
C) and selling activities are basically the same.
D) are important only when a firm is developing new products or entering new markets.
E) help sell an organization's products and generate financial resources for the firm.

Question 28

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as_______

A) marketing synthesis.
B) relationship marketing.
C) a marketing orientation.
D) the marketing concept.
E) strategic marketing.

Question 29

The marketing concept is a management philosophy that affects:

A) only marketing activities.
B) all efforts of the organization.
C) mainly the efforts of sales personnel.
D) mainly customer relations.
E) only business organizations.

Question 30

The marketing concept is best defined as:

A) a second definition of marketing.
B) a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
C) the performance of business activities that direct the flow of goods and services from producer to customer or user.
D) a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
E) the inclusion of marketing activities in the activities of an organization.

Question 31

____ is provision or transfer of goods, services and ideas.

A) Marketing orientation
B) Monetary price
C) Product assessment
D) Price assessment
E) Value

Question 32

The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they

A) affect a marketing manager's decisions and actions by influencing buyers' reactions to: the firm's marketing mix.
B) dictate that changes be made to the existing marketing mix despite any negative reactions from customers.
C) make most new products obsolete very quickly so that research and development must continually develop new products.
D) cause most advertising to be ineffective at communicating product benefits due to rapidly changing environmental forces.
E) change a customer's decisions about the appropriate marketing mix for the company and its various products.

Question 33

Marketing efforts do not involve the design and development of products.

Question 34

Services are provided by applying human and mechanical efforts to people or objects.

Question 35

_____ is the degree to which an exchange helps achieve an organization's objectives.

A) Controlling
B) Effectiveness
C) Success rate
D) Efficiency
E) Objectivity

Question 36

A market orientation is an organization-wide effort that includes all of the following activities except:

A) researching customers' needs.
B) focusing on the marketing department only.
C) generating marketing intelligence for use in the organization.
D) being responsive to customers' ever-changing wants and needs.
E) disseminating marketing intelligence across departments within the organization.

Question 37

_____ refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges.

A) Effectiveness
B) Productivity
C) Efficiency
D) Objectivity
E) Cost cutting

Question 38

Customers are the focal point of all marketing activities.

Question 39

The actual physical production of goods is a marketing activity.

Question 40

A target market is always defined by demographics.

Question 41

Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently.

Question 42

Customers are interested in a product's price because they are concerned about the value obtained in an exchange.

Question 43

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.

Question 44

Changes in the marketing environment always hurt marketing efforts.

Question 45

During the market orientation, businesspeople realized that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.

Question 46

The process people use to determine the value of a product is not highly scientific.

Question 47

The market concept developed out of a sequence of three eras: the production orientation, the marketing orientation, and the industrial orientation.

Question 48

Customer benefits include time and effort.

Question 49

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

Question 50

The marketing concept deals only with marketing activities.

Question 51

To implement the marketing concept, an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

Question 52

The marketing concept stresses that a business organization can best achieve its goal by providing customer satisfaction through coordinated activities.

Question 53

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.

Question 54

The marketing environment is a set of static, unchanging surroundings.

Question 55

The Marketing era was the period in which product and aggressive selling were no longer seen to suffice if customers either did not desire a product or preferred a rival brand, and in which customer needs were identified and satisfied

Question 56

In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.

Question 57

At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships.

Question 58

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.

Question 59

The outcomes of a marketer's decisions and actions may be affected by the variables in the marketing environment.