Question 1

What are the three trends affecting B2B marketing?&#10;A) Globalisation, politics and the environment.&#10;B) Globalisation, rapidly-changing technology, and visibility.&#10;C) Globalisation, cultural shifts, and legislation.

Accepted Answer

Globalisation, rapidly-changing technology, and visibility are key trends affecting B2B marketing. Globalisation opens up new markets and competition, rapidly-changing technology affects how businesses operate and market themselves, and visibility, through digital means, is crucial for brand awareness and engagement.

Question 2

Which of the following is NOT a driver of globalisation?&#10;A) Market factors.&#10;B) Cost factors.&#10;C) Legal factors.

Accepted Answer

Legal factors are often considered barriers or frameworks within which globalization operates rather than drivers. Market and cost factors, on the other hand, directly motivate and facilitate the integration of global economies.

Question 3

What is meant by pastiche?&#10;A) A blurring of the divisions between disciplines and a recombination of old ideas.&#10;B) Dumbing-down of culture.&#10;C) Erosion of respect for authority.

Accepted Answer

Pastiche refers to a work of art, literature, or music that imitates the style of previous works, often blending elements from different sources. It involves a recombination of old ideas, sometimes across different disciplines, to create something new or to pay homage to the original works.

Question 4

Value-based marketing is about:&#10;A) Creating value for the consumer.&#10;B) Creating value for the company.&#10;C) Creating value for the shareholders.

Accepted Answer

The answer of Value-based marketing is about:&#10;A) Creating value for...

Question 5

What is the average life expectancy for a firm?&#10;A) 5 years.&#10;B) 50 years.&#10;C) 20 years.

Accepted Answer

The average life expectancy of a firm is often cited as around 15 to 20 years, but this can vary widely depending on the industry, economic conditions, and other factors. However, among the options provided, 20 years (C) is the closest to the commonly referenced averages in studies and literature on business longevity.

Question 6

What is a sell-side swap?&#10;A) A barter agreement.&#10;B) An agreement from a buyer to sell goods on.&#10;C) An agreement between vendors to exchange sales contracts in order to increase efficiency.

Accepted Answer

A sell-side swap involves an agreement between vendors to exchange sales contracts, aiming to increase efficiency by leveraging each other's strengths or market positions.

Question 7

Which of the following is NOT one of the formative trends of 21^st century marketing? A) The move from simple to complex transactions. B) The move from manual production to automation. C) The move from transactions to solutions.

Accepted Answer

The move from manual production to automation is more related to manufacturing processes and technological advancements in production rather than a direct trend in marketing. Marketing trends focus on how products or services are offered and presented to consumers, such as moving from simple transactions to more complex ones or from focusing on single transactions to providing comprehensive solutions.

Question 8

Which of the following is NOT a feature of postmodernism?&#10;A) Anti-foundationalism.&#10;B) Pluralism.&#10;C) Utilitarianism.

Accepted Answer

Utilitarianism is a philosophy that focuses on the outcomes of actions, aiming for the greatest happiness for the greatest number. It is not a feature of postmodernism, which is more concerned with skepticism towards grand narratives, objective truth, and emphasizes relativism and diversity.

Question 9

Reputation management is complicated in the 21^st century by: A) Increased visibility. B) Political issues. C) Environmental issues.

Accepted Answer

Increased visibility due to the internet and social media platforms makes reputation management more complex, as information spreads quickly and widely.

Question 10

An engineering company which offers a design service for its customers is an example of:&#10;A) Sell-side swap.&#10;B) The move from transactions to solutions.&#10;C) The move from middle man to speculator.

Accepted Answer

An engineering company offering a design service represents a shift from merely conducting transactions (selling products) to providing comprehensive solutions (offering design services tailored to customer needs), which adds value beyond the physical goods.

Deck 19: The Future of Business Marketing