Deck 1: Customer-Driven Strategic Marketing

Question 1

The actual physical production of goods is a marketing activity.

Answer 1

False

Question 2

Customers are the focal point of all marketing activities.

Answer 2

True

Question 3

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

Answer 3

False

Question 4

The marketing mix consists of three major variables: product, price, and distribution.

Question 5

Products can be goods, services, or ideas.

Question 6

For an exchange to occur, at least one of the parties must be willing to give up his or her "something of value."

Question 7

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

Question 8

In marketing, a product can be a good or a service but not an idea.

Question 9

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

Question 10

A target market is always defined by demographics.

Question 11

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

Question 12

The broadest and simplest definition of marketing states that it is the development and efficient distribution of products for consumer segments.

Question 13

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

Question 14

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

Question 15

Changes in the marketing environment always hurt marketing efforts.

Question 16

Price is seldom used as a competitive tool.

Question 17

Marketing consists primarily of selling and advertising.

Question 18

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

Question 19

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

Question 20

Services are provided by applying human and mechanical efforts to people or objects to provide intangible benefits to customer.

Question 21

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

Question 22

A market orientation requires the organization-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments, and organization-wide responsiveness to it.

Question 23

Customer benefits include time and effort.

Question 24

The market concept stresses that an organization can best achieve its objectives by being customer-oriented.

Question 25

Customer relationship management is the use of information about customers to create marketing strategies that develop and sustain desirable customer relationships.

Question 26

To satisfy customers' objectives as well as its own, a company must coordinate all its activities.

Question 27

The marketing concept is a management philosophy, not a second definition of marketing.

Question 28

The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.

Question 29

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

Question 30

The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the overall goals of the organization.

Question 31

Value = customer costs − customer benefits.

Question 32

During the market orientation, businesspeople realized that if they could produce products efficiently, customers would buy them.

Question 33

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

Question 34

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 35

Basic and extended warranties can reduce risk, a major customer cost.

Question 36

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 37

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 38

Achievement of the firm's overall goals is part of the marketing concept.

Question 39

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

Question 40

Marketing costs consume about one-quarter of a buyer's dollar.

Question 41

Organizations should define themselves not according to the products they produce but according to

A)​how profitable they are.
B)​the price of their stock.
C)​the abundance of their product selection.
D)​how they treat employees.
E)​how they satisfy customers.

Question 42

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 43

The focal point of all marketing activities

A)areproducts.
B)isthe marketing mix.
C)areprofits.
D)aresales.
E)are customers.

Question 44

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

Question 45

Marketing is the process of

A)​promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders.
B)​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.
C)​delivering a standard of living to a society.
D)​creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives.
E)​focusing on customers' needs.

Question 46

There are four conditions that must be met before an exchange can take place. Once these conditions are met, an exchange will always take place.

Question 47

The reason the marketing concept is named this way is that it pertains solely to marketing.

Question 48

For a business organization to remain healthy and to survive, it must sell products and make profits.

Question 49

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

A)marketing mix.
B)​marketing strategy.
C)​target market.
D)​marketing tactic.
E)​consumer advocates.

Question 50

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

A)​Product, price, distribution, and promotion variables
B)​Marketing environment variables
C)​Product and promotion variables
D)​Product, price, and customer variables
E)​Product, price, customer, and promotion variables

Question 51

Marketing activities can occur even when an exchange doesn't take place.

Question 52

The primary value that a customer expects to receive from a marketer in an exchange relationship is

A)a reward or benefit greater than the costs incurred in the transaction.
B)the price charged for the product.
C)customer satisfaction.
D)quality merchandise that meets expectations.
E)a discounted price.

Question 53

Laura is a salsa dancer who wants to become a professional. Every time she has a performance, she places a flyer in the local community center and encourages her friends to tell others about the performance. Laura is engaging in marketing activities.

Question 54

It is a good idea to consider parentsas part of the target marketwhen marketing new children'slunchboxes that stay colder longer.

Question 55

Relationship marketing focuses on satisfying customers to generate the most profit.

Question 56

Marketing costs consume about one-half of a buyer's dollar.

Question 57

The primary value that a marketer expects to receive from a customer in an exchange relationship is

A)​the price charged for the product.
B)​customer satisfaction.
C)​references to other potential customers.
D)​quality merchandise that meets expectations.
E)​few returns of the merchandise purchased.

Question 58

The marketing mix is built around the

A)​product.
B)​company.
C)​customer.
D)​employee.
E)​retail outlet.

Question 59

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 60

A target market

A)​involves a large number of customers.
B)​is a specific group of customers on whom an organization 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.

Question 61

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

A)​issue.
B)​experience
C)​idea.
D)​good.
E)​service.

Question 62

Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.

A)​distribution
B)​product
C)​exchange
D)​price
E)​promotion

Question 63

When DataBytes, a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____ variable caused changes in the ____ variable of the marketing mix.

A)distribution; promotion
B)distribution; product
C)product; price
D)product; promotion
E)promotion; price

Question 64

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

A)​Profits for the seller
B)​A good bargain on the product for the buyer
C)​Reducing the seller's inventory
D)​One party having to compromise in the exchange
E)​Satisfaction for both the buyer and seller

Question 65

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 66

When Ashley HomeStoreshowcases rooms of furniture on its website, it lists each item in the room. However, if customers like all of the items, they can purchase them as a bundle. Which of the following aspects of the marketing mix is Ashley HomeStorelikely altering?

A)Price
B)Promotion
C)Distribution
D)Product
E)Target market

Question 67

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

A)​Car salesperson
B)​Airline pilot
C)​Attorney
D)​Abuse counselor
E)​Orthodontist

Question 68

Which of the following companies is the best example of a service marketer?

A)​FedEx
B)​Sony
C)​Abercrombie & Fitch
D)​The Democratic Party
E)​General Electric

Question 69

Students Against Drunk Driving (SADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. SADD primarily markets

A)goods
B)ideas.
C)services.
D)political figures.
E)applications.

Question 70

The product variable of the marketing mix can include all of the following except

A)​creation of brand names.
B)​consumer perception of the product price.
C)​development of product packaging.
D)​warranty issues
E)​repair services.

Question 71

A physical product you can touch is a(n)

A)​service.
B)​good.
C)​idea.
D)​concept.
E)​philosophy.

Question 72

Consumers buying products online have dramatically affected the ____ variable of the marketing mix.

A)​product
B)​price
C)​distribution
D)​research
E)​promotion

Question 73

Don Jacobson runs a successful wholesale business that sells equipment to restaurants throughout the Southwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

A)which market he should target.
B)the best way to distribute his products.
C)how to effectively promote his business.
D)the product he provides to his customer.
E)which supplier he should use.

Question 74

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

A)​goods.
B)​services.
C)​experiences.
D)​production.
E)​ideas.

Question 75

Deciding to add gel insoles to its running shoes would be a change in the ____ element of the marketing mix for Adidas.

A)price
B)good
C)product
D)promotion
E)distribution

Question 76

When Home Depot develops new carpet fibers that are highly stain-resistant and durable, it must educate consumers about the product's benefits. This calls for activity in which of the following marketing mix variables?

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

Question 77

The element of the marketing mix used to increase awareness of a product or company is

A)​communication.
B)​product.
C)​price.
D)​distribution.
E)​promotion.

Question 78

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 79

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

A)​product
B)​price
C)​distribution
D)​promotion
E)​marketing concept

Question 80

Making modifications to packaging or brand names involves the ____ component of the marketing mix.

A)price
B)promotion
C)market
D)distribution
E)product