Question 1

Macro-marketing ______.

Accepted Answer

Macro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers.

Question 2

The fact that producers usually prefer to produce products in large quantities,while most consumers prefer to buy in small quantities,results in ______.

Accepted Answer

Discrepancies of quantity occur when producers prefer to produce and sell in large quantities and consumers prefer to buy and consume in small quantities.

Question 3

In advanced economies ______.

Accepted Answer

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways.
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Question 4

The following headlines are for articles from the Wall Street Journal.Which article is most likely to be reporting a macro-marketing topic?

Accepted Answer

The role of a macro-marketing system is to effectively match the heterogeneous supply and demand and at the same time accomplish society's objectives. The other alternatives above deal with individual firms.

Question 5

Discrepancies of assortment happen when ______.

Accepted Answer

Discrepancies of assortment occurs when producers specialize in producing a narrow assortment of goods and services, but consumers need a broad assortment.

Question 6

Macro-marketing ______.

Accepted Answer

The role of a macro-marketing system is to effectively match the heterogeneous supply and demand and at the same time accomplish society's objectives.

Question 7

When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer,we say there is a ______.

Accepted Answer

In separation in values, producers value goods and services in terms of costs and competitive prices while consumers value them in terms of satisfying needs and their ability to pay.

Question 8

The following article titles are from Business Week magazine.Which article is most likely to be reporting on a macro-marketing topic?

Accepted Answer

The role of a macro-marketing system is to effectively match the heterogeneous supply and demand and at the same time accomplish society's objectives. The other alternatives above deal with individual firms.

Question 9

The primary purpose of the transporting and storing functions of marketing is to overcome ______.

Accepted Answer

The transporting function means the movement of goods from one place to another and the storing function involves holding goods until customers need them. These functions help to overcome spatial separation caused by producers tending to locate where it is economical to produce, while consumers are located in many scattered places.

Question 10

American supermarket chain,FoodMart,purchases cheese from five different manufacturers from around the world to assure its customers can choose among different types of cheeses at different prices.FoodMart facilitates the macro-marketing system by helping to address ______.

Accepted Answer

Purchasing cheese from five different manufacturers overcomes discrepancies of assortment, purchasing from around the world overcomes spatial separation, and customers being able to satisfy their needs at different prices overcome separation of values.

Question 11

Of the following headlines from the Wall Street Journal,which is most likely to be about a MACRO-marketing topic?

Accepted Answer

The role of a macro-marketing system is to effectively match the heterogeneous supply and demand and at the same time accomplish society's objectives. The other alternatives above deal with individual firms.

Question 12

______ refers to producers holding title to goods and services that they themselves do not want to consume and consumers wanting goods and services that they do not have.

Accepted Answer

Separation of ownership occurs when producers hold title to goods and services that they themselves do not want to consume while consumers want goods and services that they do not own.

Question 13

Exchanges between producers and consumers are more difficult in an advanced economy because of ______.

Accepted Answer

Exchange between producers and consumers is hampered by spatial separation, separation in time, separation of information and values, and separation of ownership.

Question 14

In advanced economies,______.

Accepted Answer

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways. As Exhibit 1-1 shows, exchange be?tween producers and consumers is hampered by spatial separation; separation in time; separation of information; separation in values; and separation of ownership.

Question 15

When consumers do not know where to buy a product or what it costs and the product's producer does not know where its target market is located,we say there is a ______.

Accepted Answer

In separation of information, producers do not know who needs what, where, when, and at what price. Also consumers do not know what is available from whom, where, when, and at what price.

Question 16

______ directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the society's objectives.

Accepted Answer

Macro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.

Question 17

Macro-marketing ______.

Accepted Answer

The emphasis with macro-marketing is not on the activities of individual organizations; instead, the emphasis is on how the whole marketing system works.

Question 18

The fact that US car companies are located in the upper Midwest while their customers are located throughout the US is an example of ______.

Accepted Answer

In spatial separation, producers tend to locate where it is economical to produce, while consumers are located in many scattered places.

Question 19

Of the following headlines from a business magazine,which is most likely to be about a macro-marketing topic?

Accepted Answer

The role of a macro-marketing system is to effectively match the heterogeneous supply and demand and at the same time accomplish society's objectives. The other alternatives above deal with individual firms.

Question 20

In a simple economy,one family may produce only cooking pots,but many of them.Others may specialize in farming,making clothing,and building shelters.This ______.

Accepted Answer

Discrepancies of assortment occurs when producers specialize in producing a narrow assortment of goods and services, but consumers need a broad assortment.

Quiz 1: Marketings Value to Consumers, Firms, and Society

Macro-marketing ______.

The fact that producers usually prefer to produce products in large quantities,while most consumers prefer to buy in small quantities,results in ______.

In advanced economies ______.

The following headlines are for articles from the Wall Street Journal.Which article is most likely to be reporting a macro-marketing topic?

Discrepancies of assortment happen when ______.

Macro-marketing ______.

When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer,we say there is a ______.

The following article titles are from Business Week magazine.Which article is most likely to be reporting on a macro-marketing topic?

The primary purpose of the transporting and storing functions of marketing is to overcome ______.

American supermarket chain,FoodMart,purchases cheese from five different manufacturers from around the world to assure its customers can choose among different types of cheeses at different prices.FoodMart facilitates the macro-marketing system by helping to address ______.

Of the following headlines from the Wall Street Journal,which is most likely to be about a MACRO-marketing topic?

______ refers to producers holding title to goods and services that they themselves do not want to consume and consumers wanting goods and services that they do not have.

Exchanges between producers and consumers are more difficult in an advanced economy because of ______.

In advanced economies,______.

When consumers do not know where to buy a product or what it costs and the product's producer does not know where its target market is located,we say there is a ______.

______ directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the society's objectives.

Macro-marketing ______.

The fact that US car companies are located in the upper Midwest while their customers are located throughout the US is an example of ______.

Of the following headlines from a business magazine,which is most likely to be about a macro-marketing topic?

In a simple economy,one family may produce only cooking pots,but many of them.Others may specialize in farming,making clothing,and building shelters.This ______.