Deck 20: Nature and Scope of Marketing

Question 1

Marketing activities, when performed well, help to match production and consumption.

Answer 1

True

Question 2

Marketing is defined as the transportation of products from producer to consumer.

Answer 2

False

Question 3

The goal of effective marketing is to create and maintain satisfying exchange relationships.

Answer 3

True

Question 4

Retailers are businesses that sell to other businesses.

Question 5

A marketing plan describes the goals the business wants to accomplish and the target markets it wants to serve.

Question 6

Production is an important marketing activity.

Question 7

The average cost of marketing is approximately 25 cents of every dollar consumers spend.

Question 8

Businesses that emphasize distribution and promotion in order to sell the products produced are said to be sales-oriented.

Question 9

A company that adopts the marketing concept will use other firms that specialize in marketing to complete the major marketing activities.

Question 10

Attempting to reach all potential customers for a product is usually cost-prohibitive.

Question 11

Finding the best marketing locations enables a business to operate more efficiently.

Question 12

Target markets are groups of customers with very similar needs to whom the company can sell its product.

Question 13

The blending of all decisions that relate to the four elements of marketing is called marketing research.

Question 14

The marketing elements include product, price, place, and advertising.

Question 15

Pricing is the easiest of the marketing decisions because it involves only setting a price that the customer will pay for the products.

Question 16

Two major methods of promotion are advertising and personal selling.

Question 17

Order processing is part of the distribution element of the marketing mix.

Question 18

A marketing plan can be used to help coordinate marketing activities.

Question 19

The concept of a product life cycle implies that successful products move through rather predictable stages.

Question 20

Consumer goods are products used by other businesses in the production of products for their consumers.

Question 21

What percentage off all the people employed in the United States work in a marketing job or marketing business?

A) 1/2
B) 1/3
C) 1/4
D) 1/10

Question 22

Businesses that sell directly to the final consumer are

A) wholesalers
B) producers
C) retailers
D) all of the responses

Question 23

Obtaining goods to be resold is a marketing activity known as

A) buying
B) selling
C) promoting
D) wholesaling

Question 24

The average cost of marketing as a percentage of the selling price is

A) about 15 percent
B) about 50 percent
C) 70-80 percent
D) over 90 percent

Question 25

Firms in which the products to be manufactured and the manufacturing process to be used receive the most attention are

A) sales-oriented
B) customer-oriented
C) marketing-oriented
D) production-oriented

Question 26

Which of the following is not a characteristic of a business that has adopted the marketing concept?

A) The marketing manager is a part of top management.
B) The cost of marketing is higher than in other businesses.
C) Marketing personnel work closely with other people in the business.
D) Success is based on customer satisfaction.

Question 27

The types of buyers a business wishes to attract and where those buyers are located are known as a

A) marketing mix
B) marketing plan
C) market
D) competitive advantage

Question 28

A company that has adopted the marketing concept uses market research to identify markets

A) before products are developed
B) during the product development process
C) after products are developed but before marketing begins
D) only when products do not sell well

Question 29

Which of the following is not an element of the marketing mix?

A) Place
B) Price
C) Product
D) Purpose

Question 30

The place decision in the marketing mix involves determining

A) where to manufacture the product
B) where the product will be sold
C) whether to offer credit to customers
D) where to place the brand name on the product's package

Question 31

The product life cycle concept suggests that

A) there is no such thing as a new product
B) sales of a product will continue to grow
C) profits will usually be higher than sales
D) both sales and profits will ultimately decline

Question 32

Companies emphasize promotion and price of their products in which stage of the product life cycle?

A) Introduction
B) Growth
C) Maturity
D) Decline

Question 33

One way that businesses respond to the maturity stage of the life cycle is to look for

A) less profit
B) new markets
C) old products to reintroduce
D) help from the government

Question 34

An example of a product in the decline stage of the life cycle is

A) notebook computers
B) cellular telephones
C) microwave ovens
D) phonograph records

Question 35

Gasoline, computer paper, and chairs are all examples of

A) industrial goods
B) consumer goods
C) neither response
D) both responses

Question 36

Which of the following is a factor used to determine the consumer goods categories?

A) Whether a product is an industrial or consumer good
B) Whether the customer is willing to spend time to compare products
C) The stage of the product life cycle
D) All of the responses

Question 37

When customers purchase a product regularly without a great deal of thought, the product is a(n)

A) convenience good
B) shopping good
C) specialty good
D) unsought good

Question 38

A product is usually unsought because the customer

A) cannot find the product
B) has compared the product with other similar products
C) does not have a strong need for the product
D) wants the product but cannot afford it

Question 39

As a product progresses through the product life cycle, its marketing mix

A) remains consistent
B) varies by stage
C) increases
D) decreases

Question 40

Match each item with the correct statement below.

-Products designed for use by other businesses.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 41

Match each item with the correct statement below.

-Blend of all decisions related to product, price, distribution, and promotion.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 42

Match each item with the correct statement below.

-Businesses that sell directly to final consumers.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 43

Match each item with the correct statement below.

-Inexpensive goods that are purchased often, without a lot of thought or shopping around.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 44

Match each item with the correct statement below.

-Product stage in which a product competes with many other brands with similar features.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 45

Match each item with the correct statement below.

-All attributes, tangible and intangible, that consumers receive in exchange for the purchase price.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 46

Match each item with the correct statement below.

-Groups of people with similar needs to whom a business plans to sell its product.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 47

Match each item with the correct statement below.

-Products such as jewelry, clothes, and computer games.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 48

Match each item with the correct statement below.

-Businesses that buy from and sell to other businesses.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers

Question 49

Match each item with the correct statement below.

-Amount of money given to acquire a product.

A)consumer goods
B)convenience goods
C)growth stage
D)industrial goods
E)marketing concept
F)marketing mix
G)maturity stage
H)price
I)product
J)promotion
K)retailers
L)target markets
M)unsought goods
N)wholesalers