Deck 1: Welcome to the World of Marketing: Creating and Delivering Value

Question 1

________ is the only part of the business that generates revenue.

A)Finance
B)Manufacturing
C)Customer service
D)Marketing
E)Accounting

Answer 1

D

Question 2

Marketers must work with ________ departments to determine if products are profitable,set marketing budgets and determine price.

A)manufacturing
B)human resources
C)finance and accounting
D)sales
E)customer service

Answer 2

C

Question 3

Which of the following would be considered as an organisation's stakeholders?

A)Sellers
B)Investors
C)Community residents
D)Buyers
E)All of the above

Answer 3

E

Question 4

Marketers may have backgrounds in which of the following?

A)Computer science
B)English
C)Merchandise or design
D)Law
E)All of the above

Question 5

Marketing is the activity,set of ________ and processes for creating,________,delivering and exchanging offerings that have ________ for customers,clients,partners and society at large.

A)institutions; communicating; value
B)procedures; serving; utility
C)guidelines; advertising; utility
D)procedures; communicating; costs
E)institutions; advertising; value

Question 6

Marketers come from a variety of backgrounds,including computer science and the law.

Question 7

Marketers first identify consumer needs and then provide products that satisfy those needs,ensuring the firm's long-term profitability.

A)consumer orientation
B)marketing concept
C)production orientation
D)marketing mix
E)total quality management orientation

Question 8

________ is all about creating and delivering value to both customers and organisations.

A)Competitive advantage
B)Value chain
C)Demand
D)Marketing
E)Popular culture

Question 9

Which of the following statements about marketing's role in the company is not true?

A)In some companies,marketing is an afterthought.
B)In large companies,the chief marketing officer is usually at the top of the organisational hierarchy.
C)When the chief executive officer comes from marketing,companies tend to be more marketing oriented.
D)Sometimes companies use the term marketing when they mean advertising and sales.
E)In small organisations,there is never anyone specifically designated as the marketing person.

Question 10

One of the more important parts of marketing is to ________.

A)change prices every month based upon the rise or fall of the stock market
B)understand why consumers' demand of a product is not something that is important
C)meet the needs of diverse stakeholders
D)teach people ways to spend their money
E)help keep people employed

Question 11

Which of the following is an example of a consumer?

A)Bill,who paid to attend the Big Day Out
B)Robin,who bought a soft drink from a nearby vending machine
C)Mia,who paid to have her digital photographs printed
D)Tyler,who attends a marketing class for which she paid her tuition fees
E)All of the above

Question 12

The ultimate user of a good,idea or service is called a ________.

A)utility demander
B)business operative
C)owner
D)title holder
E)consumer

Question 13

________ is all about delivering value to everyone who is affected by a transaction.

A)Value chain
B)Demand
C)Competitive advantage
D)Marketing
E)Popular culture

Question 14

Only large consumer goods companies employ marketers.

Question 15

Marketers must work with ________ departments to ensure products are produced on time and in the right quantities.

A)research and development
B)sales
C)customer service
D)finance and accounting
E)manufacturing

Question 16

Marketers may find careers in which of the following?

A)Universities or colleges
B)Non-profit organisations
C)Governments
D)Consumer goods companies
E)All of the above

Question 17

A consumer has a ________ when there is a difference between their actual state and their ideal or desired state.

A)need
B)want
C)demand
D)value
E)benefit

Question 18

Marketers tend to spend all of their time interacting with customers with almost no interaction with other departments in the organisation.

Question 19

Employees at a local amusement park are told to treat everyone who purchases a ticket to get into the park as a guest.

A)target marketers
B)producers
C)distributors
D)service providers
E)consumers

Question 20

Marketers must work with ________ departments to create products that meet customers' needs.

A)sales
B)production
C)customer service
D)finance and accounting
E)research and development

Question 21

Judith can purchase books online at sites such as Amazon.

A)buying centres
B)virtual reality malls
C)marketplaces
D)demand centres
E)market convergence

Question 22

Which of the following is an example of a need?

A)Marilyn decides she would like to have a Wendy's milkshake.
B)Michael will only go to a movie if Bruce Willis is the lead actor.
C)Although she claims to be thirsty,Joanna will not buy a soda from a vending machine that does not contain Diet Coke.
D)Adam realises he is hungry.
E)Even though there are many types of flour on the market,Brenda will buy only the Gold Medal brand when she decides to bake.

Question 23

For an exchange to occur,________.

A)at least two people or organisations must be willing to make a trade,and each must have something the other wants
B)the item must be tangible
C)there must be one winner and one loser
D)a time utility factor must be provided
E)someone must make a financial profit

Question 24

A fancy shopping centre,a mail-order catalogue,a television shopping network,an eBay auction,or an e-commerce website could all be examples of a ________.

A)marketplace
B)distribution portfolio
C)monopoly
D)communication strategy
E)strategic business unit

Question 25

Three university students were renting for the first time and needed white goods,but none of them had the money to purchase a refrigerator or washing machine.

A)place and creation
B)time and place
C)creation and possession
D)possession and time
E)form and place

Question 26

A/n ________ consists of all the consumers who share a common need that can be satisfied by a specific good or service and who have the resources,willingness,and authority to make the exchange.

A)demand centre
B)buying centre
C)exchange location
D)mass market segment
E)market

Question 27

When you couple desire with the buying power or resources to satisfy a want,the result is a ________.

A)demand
B)benefit
C)need
D)differential benefit
E)service

Question 28

________ utility occurs when you reach the petrol station just as your fuel gauge drops below empty.

A)Form
B)Creation
C)Marketing
D)Place
E)Possession

Question 29

Ruth Jones is a realtor.

A)need
B)demand
C)production orientation
D)homogeneous product
E)benefit

Question 30

Joe skipped breakfast and decides that he needs a Mars bar NOW from the vending machine at his university.

A)need; demand; convenience
B)want; need; marketplace
C)want; benefit; service
D)need; want; marketplace
E)want; utility; market

Question 31

Levi Strauss tries to meet the psychological ________ of consumers to look good.

A)needs
B)benefits
C)wants
D)values
E)demands

Question 32

Marketing activities play a major role in the creation of ________,which means that a product provides benefits when it is used.

A)utility
B)engagement
C)optimisation
D)synergy
E)functionality

Question 33

Although a want may be something to eat or drink,the desire for a specific brand name is referred to as a need.

Question 34

Jillian and Frank are moving tomorrow,and they decide to rent a truck and move themselves.

A)want
B)need
C)industrial product
D)heterogeneous product
E)benefit

Question 35

All of the following are forms of utility EXCEPT ________.

A)time utility
B)price utility
C)form utility
D)place utility
E)possession utility

Question 36

Which of the following is an example of an exchange?

A)Hamish uses his credit card to pay for his weekly groceries.
B)Isabella lets Mercedes copy her class notes and Mercedes,in return,buys lunch for Isabella.
C)Judi buys a plane ticket through an airline's website.
D)Kendra purchased petrol with her credit card.
E)All of the above

Question 37

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Question 38

Which of the following is an example of a want?

A)Jane is looking for an umbrella because it's raining.
B)Before taking tennis lessons,Michelle has to buy herself a tennis racket.
C)Marie needs some butter so she can bake cookies.
D)Murray has to buy some nails to finish roofing his house.
E)Thomas decides to buy a Big Mac Meal Deal for lunch.

Question 39

A ________ is a desire for a particular product that can be culturally and socially influenced.

A)want
B)need
C)benefit
D)value
E)demand

Question 40

A ________ delivers a benefit when it satisfies a ________.

A)company; competitor
B)product; demand
C)marketplace; marketer
D)service; utility
E)product; need or want

Question 41

Can stakeholders be consumers and can consumers be stakeholders?

Question 42

Products that satisfy needs or wants deliver benefits to consumers.

Question 43

What value would human resource departments receive in utilising the resources of www.seek.co.nz or www.seek.com.au?

Question 44

Explain how marketing creates utility and the different types of utility created.Illustrate using the example of an ice cream vendor at Bondi Beach.

Question 45

A television manufacturer that identified its mission as 'the production of television sets in the most efficient and low-cost manner possible' would most likely have a ________ orientation.

A)selling
B)marketing
C)new era
D)customer
E)production

Question 46

How does a website such as www.seek.com.au create both place and time utility?

Question 47

An ad for 'Acne b Gone' states that most acne will be visibly reduced within two weeks of using the cream.How does this ad illustrate the marketing concept?

Question 48

Explain how 'exchange relationships' occur in marketing.Use the example of illegal online film or music downloading to illustrate.

Question 49

Barbara bases her shopping on the theory that shampoo is shampoo,bread is bread,etc.and brand name and product claims make no difference to her.How would a marketer explain Barbara's behaviour,what changes would they want her to make,and how might this be achieved?

Question 50

When desire is coupled with the buying power or resources to satisfy a want,the result is demand.

Question 51

Marketing activities create form,purpose,time,place and possession utility.

Question 52

What is marketing?

Question 53

The terms market and marketplace are used as synonyms.

Question 54

Needs relate to either physical or psychological functions.How does Levi Strauss satisfy both of these needs with their jeans?

Question 55

Select one company whose products you purchase on a regular basis.How does the company address and deal with its stakeholders-buyers,sellers,investors in the company,community residents and citizens of the nations where the goods and or services are made or sold?

Question 56

Companies that have a ________ orientation tend to be more successful at making one-time sales than they are at building repeat business.

A)marketing
B)production
C)new era
D)consumer
E)selling

Question 57

How did Seek address the needs of their customers when they created www.seek.co.nz and www.seek.com.au?

Question 58

In which kind of market would a production orientation be most successful?

A)A market that sells only intangible products
B)A seller's market when demand exceeds supply
C)A buyer's market when supply exceeds demand
D)A market where there are more sellers than buyers
E)There is no market in which a product orientation can be used successfully.

Question 59

It has often been said in the movies and songs that 'diamonds are a girl's best friend'.Does that mean that every female will purchase a diamond?

Question 60

For an exchange to take place,each party must have something the other party wants.

Question 61

At Direct Tyre Sales the customer lounge is clean,there is free coffee with fresh milk and biscuits,employees wear ties,and the company will even pay taxi fares home if cars aren't ready at the agreed upon time.People don't mind paying 10 to 15 percent more for these extra services.What marketing philosophy has the management of Direct Tyre Sales adopted?

Question 62

The ________ maintains that marketers must satisfy customers' needs in ways that benefit society and are profitable for the company.

A)marketing orientation
B)consumer orientation
C)selling orientation
D)societal marketing concept
E)new era orientation

Question 63

Today,companies place a greater emphasis on ________,measuring how much value is created by marketing activities.

A)management accounting
B)accessibility
C)value accounting
D)responsibility
E)accountability

Question 64

Surf's Up,a surfboard manufacturer,negotiates a long-term contract for pink waterproof paint and floral decals at an extremely low price.

A)marketing
B)consumer
C)sustainability
D)production
E)selling

Question 65

Marketers only need to focus on building long-term relationships with customers and behaving in a socially responsible manner.Discuss.

Question 66

How has the internet facilitated the implementation of customer relationship management programs (CRM)?

Question 67

Compare and contrast production,selling and consumer orientations.Illustrate using examples from your own marketplace experiences.

Question 68

In an attention economy,a company's success is measured by its share of ________ rather than its share of ________.

A)market; mind
B)value chains; market
C)value propositions; profit
D)differential benefits; mind
E)mind; market

Question 69

Hunger Busters,a chain of sandwich shops,have determined that for every $5000 that has been invested,each sandwich shop returns on average $500 after tax.

A)value chain inputs
B)differential benefit
C)distinctive competency ratings
D)Return On Investment (ROI)
E)utility projections

Question 70

A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.

A)production
B)selling
C)promotion
D)consumer
E)new millennium

Question 71

ROI is a marketing acronym for customers who rely on instinct when making purchases.

Question 72

Companies that have a selling orientation rely heavily on customer relationship management.

Question 73

A company tells their staff that the only thing that matters is sales.Salespeople are paid commissions,travel extensively,and are encouraged to use hard sell techniques.Discuss the orientation the company is following and why such an orientation may not be successful in the long term.

Question 74

The societal marketing concept maintains that marketers must satisfy customers' needs in ways that also benefit society.

Question 75

A businessperson who only produces a product when it is ordered is referred to as a/n ________.

A)turn-key operator
B)intrapreneur
C)total quality manager
D)interpreneur
E)All of the above

Question 76

A production orientation works best in a buyer's market when supply exceeds demand.

Question 77

Companies that do all they can to satisfy customer needs and wants have adopted a segmentation orientation.

Question 78

A company decides that it will only offer two colours of its product; each with the same three features because this will reduce their costs.The company makes these decisions with no input from consumers.Discuss the orientation the company is following and when such an orientation would be most successful.

Question 79

For many years,Avon Products have raised money for breast cancer programs through a variety of fundraising channels.How has Avon adopted the societal marketing concept?

Question 80

Explain what is meant by a 'triple bottom line orientation'.