Question 1

Social media has become an integral part of marketing and communication strategies for organizations or individuals that are engaged in ______

Accepted Answer

Social media has become important for all types of marketing, whether it is business-to-business (B2B), business-to-consumer (B2C), or consumer-to-consumer (C2C) marketing. Therefore, choice E is the best answer.

Question 2

A major sporting goods company distributes its products via retailers.It offers attractive subsidies on its products to encourage retailers to sell higher volumes.Among the four Ps of marketing, this exemplifies the use of:

Accepted Answer

The answer of A major sporting goods company distributes its...

Question 3

The process of selling merchandise or services from one business to another is referred to as:

Accepted Answer

B2B (business-to-business) marketing involves selling merchandise or services from one business to another. C2C marketing involves selling merchandise or services directly between consumers, while C2B marketing involves consumers offering products or services to businesses. B2C marketing involves selling to individual consumers. D2R marketing is not a common marketing term.

Question 4

An automobile manufacturer buys tires, glass for windscreens, and rubber hoses for its vehicles.The suppliers of these products are other companies that specialize in the manufacturing of this equipment.This is an example of:

Accepted Answer

This situation involves business-to-business (B2B) marketing because the automobile manufacturer is purchasing from other companies that specialize in the manufacturing of these products. B2C marketing involves businesses selling directly to consumers, D2R marketing is not a recognized marketing term, C2C marketing involves consumers selling to other consumers, and C2B marketing involves consumers offering products or services to businesses.

Question 5

Spatialtech, an aerospace company, is a major service provider for space research organizations.This is an example of:

Accepted Answer

Spatialtech is providing services to other organizations, which means it is engaged in business-to-business (B2B) marketing.

Question 6

May's, a social shopping website, launched a marketing platform that enables shoppers to recommend products to their friends.Friends discover these recommendations through Facebook, Twitter, email, and the May's website and search engine.This is an example of:

Accepted Answer

This is an example of customer-to-customer (C2C) marketing, as shoppers are recommending products to their friends through social media and other channels.

Question 7

Which of the following components of the four Ps of marketing includes all the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it?

Accepted Answer

Place is the component of the four Ps of marketing that includes all the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it. It involves decisions about distribution channels, logistics, and inventory management.

Question 8

Bank International was created to provide the working class with a means of saving.The bank accepts all deposits between $1 and $500.The bank encourages people who save a very small amount every month to continue to save.This is an example of:

Accepted Answer

The scenario describes a bank that is providing a service to individuals, which is an example of business-to-consumer (B2C) marketing. The other options do not apply as they involve different types of marketing relationships.

Question 9

What is the most flexible element of the marketing mix?

Accepted Answer

Price is considered the most flexible element of the marketing mix because it can be changed quickly and easily, unlike product features, distribution channels, or promotional strategies which require more time and resources to adjust.

Question 10

The process in which businesses sell to consumers is referred to as:

Accepted Answer

B2C stands for Business-to-Consumer marketing, which involves businesses selling products or services directly to individual consumers. The other options are incorrect: C2C refers to consumer-to-consumer marketing, B2B refers to business-to-business marketing, and C2B and D2R are not commonly used marketing terms.

Question 11

Which element of the marketing mix is responsible for communicating value to customers?

Accepted Answer

Promotion is responsible for communicating value to customers by informing them about the features and benefits of the product or service, creating brand awareness, and highlighting any promotional offers or discounts.

Question 12

Among the four Ps of marketing, the component that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response is the component of:

Accepted Answer

The component of promotion focuses on the communication of a product or service to potential buyers. It includes activities such as advertising, personal selling, public relations, and sales promotion. The goal of promotion is to inform, persuade, and remind potential buyers about a product or service to influence their opinions or elicit a response. Therefore, promotion is the best choice for the component that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response.

Question 13

Maria wants to buy a bike.She spends a lot of time and energy trying to find the right bike.She does find one and then pays $200 to buy it.The time and energy spent along with the sum of money constitute the:

Accepted Answer

The time, energy, and money Maria spends to acquire the bike constitute the "price" she pays for it.

Question 14

Teal Corp.manufactures passenger car and automobile tires.It offers radial and tubeless tires to dealers and automobile companies.This is an example of:

Accepted Answer

Teal Corp. manufactures and sells its products to dealers and automobile companies, which is an example of business-to-business marketing.

Question 15

Hisign is a company that allows customers to have a unique experience in that they can open a virtual shop that includes an online storefront.This virtual shop also offers other facilities such as website hosting, order management, fulfillment, payment processing, and customer service.The products uploaded by customers can be bought by people visiting the website.This shop is an example of:

Accepted Answer

The answer of Hisign is a company that allows customers...

Question 16

For marketers, the key to determining prices is to:

Accepted Answer

The key to determining prices for marketers is to figure out how much customers are willing to pay. This involves conducting market research to understand customer behavior and preferences and to gather insights on their price sensitivity. By understanding this, marketers can set prices that are competitive and attractive to customers while still meeting their profitability objectives. Varying prices frequently, solely focusing on profitability, relying on competitor pricing alone, or involving employees may not necessarily lead to optimal pricing decisions.

Question 17

A daycare business provides babysitting services as well as structured preschool education and learning simulation for kids.This is an example of:

Accepted Answer

B2C marketing refers to businesses that sell their products or services directly to individual consumers. In this scenario, the daycare business is providing services directly to parents and guardians of young children, making it an example of B2C marketing.

Other choices can be eliminated: 
B) D2R marketing does not exist in common marketing terms. 
C) B2B marketing refers to businesses that sell to other businesses, which is not the case here. 
D) C2C marketing refers to transactions between consumers, such as selling items on eBay or Craigslist. 
E) C2B marketing refers to businesses that cater to the needs of individual consumers or customers.

Question 18

A company is developing an efficient system for merchandise to be distributed in the right quantities, to the right locations, and at the right time in the most efficient way.It is making:

Accepted Answer

The company is developing a system for merchandise distribution, which falls under the category of place decisions in the 4 Ps of marketing (product, price, place, promotion). Therefore, the best choice is C, place decisions. The other choices (people decisions, price decisions, product decisions, and promotion decisions) are not relevant to the context of the scenario.

Question 19

A company manufactures soaps.It selects a small number of retail outlets to distribute the product.Among the four Ps of marketing, this exemplifies:

Accepted Answer

The selection of a small number of retail outlets for distributing the product exemplifies the 'place' aspect of the four Ps of marketing, which involves deciding on the most effective channels and locations to make the product or service available to the target market.

Question 20

Mir Air is one of the largest airlines in the world.It provides scheduled and chartered air transport for passengers to 200 destinations worldwide.Together with its regional partners, the airline operates, on an average, more than 1,500 scheduled flights daily.This is an example of:

Accepted Answer

Mir Air's operations, which involve providing air transport services directly to passengers, exemplify B2C (Business-to-Consumer) marketing. This is because they are selling their services directly to the end consumers.

Quiz 1: Overview of Marketing