Deck 1: Marketing Principles and Practice

Question 1

The key focus of the American Marketing Association's (AMA) 2013 definition of marketing is:

A) organizational activities.
B) product components.
C) shareholder returns.
D) customers.

Answer 1

D

Question 2

The key difference between sales and marketing is that:

A) marketing emphasizes the process of 'product pull' and sales focuses on 'product push'.
B) marketing emphasizes the process of 'product push' and sales focuses on 'product pull'.
C) marketing only exists in B2C marketing contexts.
D) both marketing and sales have the same process of 'product push' and 'product pull'.

Answer 2

A

Question 3

The consumer goods perspective has been dominant in the history of marketing. The concept is concerned with ideas of:

A) service to customers.
B) marketing mix.
C) business to business.
D) customers' experience.

Answer 3

B

Question 4

The core competencies of the marketer are to, champion the customer and hence customer focus, and develop marketing strategy.

A) design products
B) generate customer insights
C) develop sales skills
D) Improve business process

Question 5

In the ---------- of exchange, we have a manufacturer dealing directly with its customers. An example here would be Dell, the computer manufacturer, selling directly from its website and via the telephone.

A) fifth type
B) first type
C) third type
D) second type

Question 6

What is the way in which the offering is delivered to the customer?

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

Question 7

As intangible services have increased in their importance the marketing mix, the 4Ps theory has been further developed to incorporate an additional 3Ps; creating the 7Ps of services marketing. These new 3Ps include:

A) people, profit and processes.
B) processes, promotion and people.
C) physical evidence, people and processes.
D) place, people and processes.

Question 8

____________ need to develop long-term customer relationships, including relationships with suppliers; potential employees; recruiters; referral markets influence markets and Internal markets.

A) transaction marketing
B) B2C marketing
C) B2B marketing
D) relationship marketing

Question 9

Circular economy is beyond the …….

A) aggregate marketing system .
B) unethical marketing practice .
C) creating wants or needs .
D) take-make-waste business model .

Question 10

The aggregate marketing system delivers to us a wide array of offerings, either directly or indirectly through business markets, to serve our wants and needs.

Question 11

Marketing plays an important role in developing and transforming
society .

Question 12

The Chartered Institute of Marketing (CIM) definition of marketing differs to the definition offered by the American Marketing Association (AMA) in that it focuses on 'satisfying customer requirements profitably' as opposed to 'delivery of value'?

Question 13

The behaviours of a customer and the behaviours of a consumer are the same.

Question 14

B2B marketing is essentially the same as consumer marketing

Question 15

Marketing is a one-way process as it's solely about the marketing organization doing the work.

Question 16

The key difference between a customer and a consumer is that: a consumer purchases a product and a customer consumes it.

Question 17

Understanding buyer psychology is fundamental to the marketing function. Because marketing is about understanding customers' needs, empathy with customers is a prerequisite.

Question 18

An organization that is characterized as developing a market orientation: will appoint a marketing person to its board of directors, or trustees in the case of a charity, or part of the executive team in a limited company or partnership..

Question 19

Much B2B marketing activity revolves around the need to develop strong prospects for a offerings, to ensure effective supply chain management operations to develop the market for a B2B offering, and to ensure that it is delivered appropriately.

Question 20

The focus of marketing in consumer goods context is on:

A) The focus of marketing in consumer goods context is on how to facilitate the rapid exchange of goods, the effectiveness of marketing in matching supplier offering to customer demand, and efficiency in managing the distribution of the product through the supply chain.
B) satisfy management's needs and wants with the idea of maximizing profits in the short term.
C) the need to develop strong prospects for a company's offerings, to ensure effective supply chain management operations and to ensure it is delivered appropriately.
D) the quality of service offered as well as the difference between customer perceptions of actual service quality and their expectations of service quality.

Question 21

Companies employing a relationship marketing approach stressed ___________ rather than customer acquisition.

A) aggregated demand
B) product offerings
C) the sales orientation
D) customer retention

Question 22

The emphasis in B2B markets is strongly focused on the development and building of mutually satisfying relationships based on commitment and trust.

A) B2C market
B) international market
C) transaction market
D) B2B markets

Question 23

The study of the effect that marketing processes, activities, and institutions have on the economy and society of a nation is known as …….

A) micromarketing .
B) experience marketing .
C) aggregated marketing system .
D) macromarketing .