Deck 1: Overview of Marketing

Question 1

Over the past decade or so,marketers have begun to realize that it is best to structure a firm's customer orientation in terms of transactions rather than relationships.

Answer 1

False

Question 2

Value is what you get for what you give.

Answer 2

True

Question 3

Marketers might wish to sell their products to everyone,but it is not practical to do so.

Answer 3

True

Question 4

Jami sells construction equipment.Whenever she calls on her building contractor customers,she asks if they are having any problems.In doing so,Jami is addressing which of the following core aspects of marketing?

A) Satisfying customer needs and wants
B) The exchange function of marketing
C) Product,place,promotion,and price decisions
D) Decisions about the setting in which marketing takes place
E) Creating value

Question 5

Because thoughts,opinions,and philosophies are neither goods nor services,they cannot really be marketed.

Question 6

By publishing a Code of Ethics,a firm ensures that all employees will behave ethically.

Question 7

Garage sales and online classified ads are examples of C2C marketing.

Question 8

Julia is considering a career in marketing.She is concerned about the image of marketers as fast-talking,high-pressure people.When reading about the core aspects of marketing,Julia is relieved to see that in marketing:

A) all parties to an exchange should be satisfied.
B) promotion is the most important consideration,followed by pricing decisions.
C) decisions are made regarding how a product is designed.
D) customers are not considered until the product is ready for sale.
E) distribution is controlled by customers.

Question 9

When a car manufacturer sells trucks,cars,and car parts to the government or military,this is an example of B2C marketing.

Question 10

The group of firms that makes and delivers a given set of goods and / or services is called a supply chain.

Question 11

Good marketing is not a random activity.

Question 12

The Apple™ iPad has been successful because it provides value to customers.

Question 13

Marketing is an activity that only large firms with specialized departments can execute.

Question 14

Marketing involves all of the following EXCEPT:

A) conducting exchanges.
B) satisfying customer needs and wants.
C) creating value.
D) efforts by individuals and organizations.
E) production scheduling.

Question 15

Value-based marketing helps to build long-term customer loyalty.

Question 16

When a good or service is promoted,the purpose of the promotion is to inform,persuade,or remind customers.

Question 17

The four Ps include product,promotion,planning,and place.

Question 18

The power adapters Dell sells with its computers are built by small companies who specialize in power-related accessories.Dell and the power adapter manufacturers are engaging in B2B marketing.

Question 19

When a tee shirt manufacturer states,"We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," their statement reflects the views that were popular in which era of the evolution of marketing?

A) Production-oriented
B) Sales-oriented
C) Market-oriented
D) Value-based marketing
E) Economic-oriented

Question 20

Understanding a customer's needs and wants is fundamental to marketing success.

Question 21

When referring to "exchange," marketers are focusing on:

A) the location where products and services are traded.
B) the price charged,adjusted for currency exchange rates.
C) location-based tactics for creating value.
D) promotional offers designed to stimulate barter.
E) the trading of things of value.

Question 22

Brian is struggling with the choice of publishing his new book,"How to cook Polish Barbeque" as an e-book or a paperback.Brian is addressing which core marketing aspect?

A) Developing a promotional plan
B) Managing the Exchange function of marketing
C) Making product decisions
D) Deciding where and how to sell the product
E) Pricing the product

Question 23

Marketers must determine the price of a product carefully,based on potential buyers' beliefs about:

A) its value.
B) the environment.
C) the cost to manufacture the product.
D) the economic outlook.
E) the product's new advertising campaign.

Question 24

Fiona has developed a new software application that automatically recalculates and reformats accounting information based on the standards used in each country.Her product is superior to anything that exists on the market.Which of the following questions will she have to address when making marketing decisions?

A) How the software will be promoted?
B) What price should she charge?
C) Should she sell her software on the Internet?
D) In what country should she offer the software for sale first?
E) All of these

Question 25

The owner of The Pipe Doctor,a plumbing service,often orders the sinks,faucets,and toilets he installs for his customers.Since his customers pay him for these items and also for the labor to install them,the Pipe Doctor:

A) is a provider of goods.
B) is a service provider.
C) provides both goods and services.
D) is primarily a marketer of ideas.
E) offers neither goods nor services.

Question 26

Xavier is analyzing potential market segments.He should carefully seek potential customers who have both an interest in his products and:

A) a thorough knowledge of his brand messages.
B) the ability to buy them.
C) knowledge of competing products.
D) the ability to negotiate discounts.
E) are removed from traditional marketing alternatives.

Question 27

Marketing includes offering:

A) goods.
B) services.
C) ideas.
D) goods,services,and ideas.
E) goods and services only.

Question 28

The four Ps make up the marketing mix,which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets.

A) unpredictable
B) external
C) internal
D) controllable
E) global

Question 29

The basic difference between a good and a service is that a good:

A) provides intangible benefits.
B) can be physically touched.
C) is always less expensive than a corresponding service.
D) generates greater interest among consumers.
E) is more quickly forgotten by consumers.

Question 30

Which of the following questions must be addressed when making marketing decisions?

A) How is the product to be designed?
B) How much should the product cost?
C) Where should the product be promoted?
D) How will the product be delivered to the customer?
E) All of these

Question 31

Which of the following is a core aspect of marketing?

A) Satisfying as many needs as possible
B) Creating a product that everyone will want to buy
C) Setting prices lower than all competitors
D) Making product,place,promotion,and price decisions
E) All of these

Question 32

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix,or four Ps,including all of the following EXCEPT:

A) product
B) place
C) performance
D) promotion
E) price

Question 33

Some discount stores put products in large bins and let consumers hunt and find bargains.The price these consumers pay includes:

A) only the actual price they pay at the register.
B) the value of their time and energy.
C) the excitement they experience in finding an item they desire.
D) the savings to the store of not having to display the products neatly on shelves.
E) all of these.

Question 34

The price of a product:

A) is usually expressed in terms of money.
B) includes the time involved in the purchase decision.
C) includes the effort and energy involved in researching the product.
D) is everything the buyer gives up to obtain the product.
E) all of these.

Question 35

Whenever Valerie has a new massage therapy customer,she invites the person to be on her e-mail distribution list.In the process,in addition to exchanging her massage therapy service for payment,Valerie is gathering:

A) information.
B) promotional capital.
C) pricing data.
D) value co-creation.
E) all of these.

Question 36

Four Winds Art Gallery recently began offering appraisals of customers' art collections,in addition to continuing to sell paintings.Four Winds is:

A) expanding from offering just services to also offering goods.
B) implementing a market segmentation strategy.
C) capturing value through multiple pricing strategies.
D) expanding from offering just goods to also offering services.
E) increasing customer value through inflated appraisal evaluations.

Question 37

Henriette offers financial counseling and management on a fee-only basis.She has found that different customers are willing to pay different rates for her services.This shows that her pricing decisions should depend primarily on:

A) choosing an average price that she will charge all her clients.
B) changes in technology allowing consumers to manage their own affairs.
C) how different customers perceive the value of her services.
D) changes in the economy.
E) how much her competitors charge for similar services.

Question 38

The fundamental goal of marketers when creating goods,services,or combinations of both,is to:

A) defeat the competition.
B) serve all consumers.
C) operate according to government regulations.
D) stimulate short-term sales.
E) create value.

Question 39

Of primary interest to marketers are __________ buyers.

A) centrally controlled
B) unqualified and underserved
C) qualified potential
D) first-time
E) C2C

Question 40

UPS washes its trucks nightly so they are always clean,and requires its delivery people to wear clean,unwrinkled uniforms.UPS probably established these rules because they know that:

A) consumers want friendly delivery people.
B) most delivery services do not require uniforms.
C) consumers' judgment of the benefits they receive from services are tied to the image of the producer.
D) the goods UPS sells are easily replicated.
E) all of these.

Question 41

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students.These bulletin boards increase __________ marketing.

A) B2C
B) C2B
C) B2B
D) C2C
E) underground

Question 42

The traditional marketing channel through which consumers most often find and purchase goods and services is known as:

A) B2B
B) C2C
C) D2C
D) C2D
E) B2C

Question 43

Local television advertising often includes ads for automobile dealerships using actors trying to create a sense of excitement and urgency among consumers.These ads are attempting to achieve the promotional goal of __________ potential buyers.

A) informing
B) persuading
C) reminding
D) all of these
E) none of these

Question 44

Every Christmas season,Anheuser-Busch runs television ads featuring Clydesdale horses in a winter scene.These ads focus on the promotional goal of __________ consumers about Budweiser,the company's well-known brand of beer.

A) informing
B) persuading
C) reminding
D) all of these
E) none of these

Question 45

Effective promotion enhances a product or service's:

A) supply chain management system.
B) wholesaling capabilities.
C) perceived value.
D) design features.
E) all of these.

Question 46

As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from __________ to __________ marketing.

A) B2C; B2B
B) B2C; C2C
C) B2B; B2C
D) B2B; C2C
E) C2C; B2C

Question 47

By promoting perfume based on youth,style,and sex appeal,Calvin Klein is attempting to:

A) influence social norms regarding sexuality.
B) encourage consumers to participate in product redesign.
C) stimulate supply chain management cooperation.
D) increase the perceived value of their products.
E) none of these.

Question 48

Valerie's firm researched what its employees wanted from their jobs.It then communicated a brand image for the firm and worked to ensure that the employees' experiences matched what was advertised.The firm is using:

A) human resources marketing.
B) employee relations mediation.
C) human factors analysis.
D) employment marketing.
E) human asset branding.

Question 49

Yesenia,the new university course scheduling manager,is struggling with adjustments to the fall schedule.She is trying to determine how to offer the classes students need at the times when students need them.Yesenia is struggling with the marketing function of:

A) communicating the value proposition.
B) supply chain management.
C) creating value.
D) capturing value.
E) value co-creation.

Question 50

Marketers involved in supply chain management are constantly balancing:

A) the goal of promotional effectiveness against ethical advertising standards.
B) the problem of price maximization against cost efficiency.
C) the goal of minimizing costs against satisfying the service levels customers expect.
D) the desire to achieve against the need for a stable source of supply.
E) the goal of efficiency against the price charged by competitors.

Question 51

The goal of promotion is to __________ potential buyers about a product or service.

A) inform
B) persuade
C) remind
D) all of these
E) none of these

Question 52

Supply chain management involves integrating the efforts of:

A) suppliers.
B) manufacturers.
C) warehouses.
D) stores.
E) all of these.

Question 53

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts.Retailers function as:

A) market intermediaries.
B) monopolists.
C) regulators of consumer demand.
D) wholesale specialists.
E) intermediate promoters.

Question 54

Delivering the value proposition is also known as:

A) endless chain marketing.
B) a transactional orientation.
C) wholesaling.
D) product design.
E) supply chain management.

Question 55

The marketing goal of getting the "right quantities to the right locations,at the right time" is:

A) communicating the value proposition.
B) supply chain management.
C) creating value.
D) capturing value.
E) price and performance management.

Question 56

Which of the following is NOT true about marketing ideas?

A) Opinions,philosophies,intellectual concepts and even thoughts can be effectively marketed.
B) The marketing of ideas does not involve true exchange of value.
C) Ideas can be "purchased" by convincing someone to change his or her behavior.
D) Marketing can be directed toward primary and secondary targets to increase knowledge and change behavior.
E) Value can be created through changing behaviors.

Question 57

Auction sites like eBay have increased opportunities for __________ marketing.

A) B2B
B) C2C
C) D2C
D) C2D
E) B2G

Question 58

UPS,FedEx,DHL,and other shipping companies support other firms' __________ marketing goals.

A) supply chain management
B) value communication
C) value capture
D) retail management
E) none of these

Question 59

Marketing efforts designed to get the product or service to the right customer,when that customer wants it,are called:

A) supply chain management.
B) a transactional orientation.
C) wholesaling.
D) value co-creation.
E) endless chain marketing.

Question 60

__________ is communication by a marketer that informs,persuades,or reminds potential customers about a product.

A) Pricing
B) Promotion
C) Placement
D) A relational orientation
E) Value co-creation

Question 61

Joseph is about to graduate near the top of his class and has been looking at some forward-thinking firms.He had expected the job market to be tight,but found that some firms were using employment marketing to attract the candidates they want and need.He noticed these firms used all of the following approaches EXCEPT:

A) using marketing research to understand what future employees want from a position.
B) using advertising agencies to focus creatively on the targeted job seekers.
C) developing an employee-oriented brand image.
D) assuming that the right candidates will learn about the firm and apply for jobs without any encouragement.
E) working to ensure the employment experiences match the candidates' expectations.

Question 62

Melanie works for a small computer software company.Her boss is constantly improving their products but neglecting customers,billing,and promoting the company.Her boss is probably stuck in the __________ era of marketing.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 63

Value-based marketing depends on:

A) knowing what the customer perceives as the key benefits of a product or service.
B) balancing customer benefits with reasonable costs.
C) knowing what benefits customers would do without to keep prices down.
D) looking at quality from the customer's perspective.
E) all of these.

Question 64

The evolution of marketing progressed along the following continuum:

A) sales,marketing,value-based marketing,production
B) marketing,value-based marketing,production,sales
C) value-based marketing,production,sales,marketing
D) production,sales,marketing,value-based marketing
E) sales,value-based marketing,marketing,production

Question 65

Many U.S.companies first discovered marketing during the __________ era.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 66

Henry Ford's statement,"Customers can have any color they want so long as it's black," typified the __________ era of marketing.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 67

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 68

During the __________ era manufacturers and retailers began to focus on what consumers wanted and needed before they designed,made,or attempted to sell their products.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 69

Yolanda is the new restaurant manager in a major hotel.When considering changes in the restaurant to improve benefits to customers,Yolanda will likely attempt to either provide the same quality at a lower cost or:

A) improve products and services at the same cost.
B) increase prices to increase revenue.
C) offset higher hotel rates with lower restaurant prices.
D) reduce customer expectations through reduced service.
E) any of the above.

Question 70

The "Got Milk" advertising campaign,designed to increase consumption of milk,was intended to help market a(n):

A) individual.
B) firm.
C) industry.
D) organization.
E) all of these.

Question 71

Trey sells consumer electronics.He knows his customers weigh the costs versus the benefits associated with the different options available.He decides which products to offer and what prices to charge based on the way his customers think.Trey operates in the __________ era.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 72

Value is:

A) the lowest cost option.
B) represented by brand names.
C) the highest priced alternative.
D) everyday low prices.
E) what you get for what you give.

Question 73

During the __________ era manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 74

In delivering value,marketing firms attempt to find the most desirable balance between:

A) the need for value and the perception of value.
B) explicit versus implicit value.
C) providing benefits to customers and keeping costs down.
D) the desire to satisfy customers and the need to keep customers from running the company.
E) the need for product improvement and the need for advertising.

Question 75

The idea that a good product will sell itself is associated with the __________ era of marketing.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 76

During the market-oriented era:

A) a good product would sell itself.
B) the customer was king.
C) marketing was more important than production.
D) advertising and personal selling were emphasized to make the sale.
E) firms focused on value.

Question 77

During the __________ era,firms had excess capacity and used personal selling and advertising to generate customers.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 78

Some consumers will try to get a lot of merchandise for a small amount of money.In marketing,this is known as:

A) the marketing paradox.
B) the outer limits of pricing.
C) customers seeking value.
D) excess valuation.
E) marketing myopia.

Question 79

Serena studies her customer profiles,market research data,complaints,and other information attempting to better understand what her customers want.Serena operates in the __________ era of marketing.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented

Question 80

Near the end of the model year,Move-Them-Out automobile dealership had an unusually high inventory level.The manager increased her advertising spending and gave extra incentives to its salespeople.Move-Them-Out operates as if it were in the __________ era.

A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented