Deck 1: Marketing in Todays Business Milieu

Question 1

The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large".

Answer 1

True

Question 2

Sustainability refers to practices of socially responsible firms that incorporate doing well by doing good.

Answer 2

True

Question 3

A firm with a production orientation assumes that "if you build it, they will come".

Answer 3

True

Question 4

Marketing misnomers occur because many people think of marketing as __________.

A) Pushy salespeople
B) Advertising and celebrity spokespersons
C) The firm's department of advertising
D) Overstated product claims
E) All of the above

Question 5

Fred Wiersema's book The New Market Leaders states that marketers will continue to more power than customers in both B2B and B2C markets.

Question 6

Dell Computers employs one-to-one marketing by allowing a customer essentially to customize the product features that he or she desires.

Question 7

The _____________ aspect of a firm is generally the most visible to people outside the organization.

A) Financial management
B) Accounting
C) Marketing
D) Information technology
E) Operations management

Question 8

Even with great marketing, vast numbers of potential customers have never heard of some products or services.

Question 9

Of all the business fields, marketing is most visible to people outside the organization.

Question 10

Little m marketing refers to tactics and programs the firm uses to reach its stakeholders.

Question 11

Direct-to-consumer marketing by pharmaceutical companies and the vast amount of health information available to patients on Web sites enable them to self-diagnose and self-prescribe and saves the physician time.

Question 12

Big M marketing refers to the strategic, long-term, firm-level commitment to investing in marketing.

Question 13

Firms today have learned to be open about products and services with consumers who have endless sources of information, including blogs, chat rooms and independent Web sites.

Question 14

It is important that everyone in the organization understand the concept of customer orientation.After all, every employee has an internal customer.

Question 15

Gen Yers tends to value relationships with marketers like State Farm Insurance in exactly the same way their parents do.

Question 16

Customer orientation and market orientation are opposing concepts.Customer-oriented firms look at customers as individuals and market-oriented firms look at the market as a whole.

Question 17

Firms today are beginning to understand the importance of marketing metrics to assess marketing performance.

Question 18

Great marketing starts with ______________________.

A) Listening to customers
B) Designing a great product
C) Offering the lowest price
D) Word-of-mouth endorsements
E) Selling a product where customers can easily find it

Question 19

Marketing is relevant only to people in the organization that work directly in the marketing department.

Question 20

Don Peppers and Martha Rogers popularized the term one-to-one marketing,

Question 21

After a recent 141-day strike, members of the union members in California went back to work at area grocery stores.The union negotiated raises, better healthcare benefits, and a one-tier pay scale.The role of the union may best be described as a ________.

A) Governmental body
B) Stakeholder
C) Vendor
D) Internal customer
E) Management group

Question 22

AMA's first official definition reflected its roots in ______.

A) Advertising of all kinds of products
B) Sales of consumer packaged goods
C) Production in factories
D) Distribution of agricultural products
E) Public relations and publicity

Question 23

AMA's current official definition of marketing reflects the view towards marketing activities as ______.

A) Focused on strategy
B) Focused on tactics like using electronic commerce and new media like You Tube
C) Focused on relationships with suppliers and customers
D) Focused on value, through creating, communicating, delivering and exchanging offering that create value
E) A and D

Question 24

It took Nike ____ years to replace the greenhouse gas in the heels of Nike Air shoes.

A) 3
B) 6
C) 10
D) 14
E) 18

Question 25

When you tell someone you are a marketing major in college, he or she may think you want a career in ________________.

A) Management
B) Information technology
C) Sales
D) Customer service
E) Financial planning

Question 26

Creating, communicating, delivering and exchanging offerings that have value may be thought of as ___________________.

A) The marketing mix or 4 Ps
B) The firm's strategic plan
C) Sales orientation
D) Production orientation
E) Exchange

Question 27

Making a change in any of the marketing mix elements will _______________.

A) Leave the other elements unchanged
B) Possibly have an impact on another element
C) Have a domino effect on the other elements
D) Require the firm to introduce new products
E) Require an increase in promotion

Question 28

The marketing concept was first articulated in writing in the Annual Report of ______________.

A) Ford Motor Company
B) AT&T
C) RCA
D) General Motors
E) General Electric

Question 29

High pressure selling _____________.

A) Is practiced today by many companies
B) Has a marketing orientation
C) Sparked laws to protect consumers
D) A and C
E) None of the above

Question 30

The stereotypical automobile dealership uses tactics like high pressure and bargaining to get customers to buy.This is an example of _____________.

A) Production orientation
B) Selling orientation
C) Marketing orientation
D) Buzz marketing orientation
E) Business orientation

Question 31

The marketing concept was introduced ______________.

A) After the Civil War
B) After World War I
C) After the Great Depression
D) In the 1950s
E) In the 1960s

Question 32

Bryan gets reduced fees for his daughter's piano lessons by maintaining her teacher's web site.Bryan is practicing the central tenet of marketing called ____________.

A) Value
B) Exchange
C) Growth
D) Sustainability
E) Barter

Question 33

Peter Drucker, the father of modern management, believed that marketing _____________.

A) Should be a separate function within the business
B) That it is the business as seen from an internal point of view
C) That it is the business as seen from the customer's point of view
D) That is so basic that it is a central dimension of the entire business
E) Should improve the quality of life for society

Question 34

AMA's first official definition of marketing was released in ______.

A) 1925
B) 1948
C) 1967
D) 1985

Question 35

__________ is not a marketing function.

A) Research
B) Advertising
C) Brand development
D) Public relations
E) Research and development

Question 36

AMA's current official definition of marketing was released in ______.

A) 1965
B) 1985
C) 2000
D) 2007

Question 37

Peter Drucker, the father of modern management, stated that the only purpose of an organization is _____________.

A) To create products
B) To make products affordable and accessible to the majority of the public
C) To improve the quality of life for all people
D) To create a customer
E) To respect the environment

Question 38

Nike Air shoes were discovered to have a greenhouse gas in the heel air pocket.The company did not change the design _______________.

A) Until some environmental groups found out and complained
B) Since it did not have to change under the law
C) Because engineers were working on more profitable designs
D) Until it spent millions of dollars and many years to get a good new design
E) A and D

Question 39

Companies that conduct research using focus groups, consumer surveys, and in-person interviews most likely have a ____________.

A) Production orientation
B) Selling orientation
C) Marketing orientation
D) Buzz marketing orientation
E) Business orientation

Question 40

Companies that promote sustainability practices like Starbucks, that has a stringent recycling program, or General Electric, that makes compact fluorescent light bulbs (CFLs), are practicing ______________.

A) Green marketing
B) Public relations
C) Publicity
D) Shotgun marketing
E) One-to-one marketing

Question 41

XYZ department store advertises the "biggest sale of the year" every weekend and offers extra bargains to early bird customers.ABC department store advertises seasonal sales and employees send handwritten notes to customers who spend more than a certain amount of money.This implies that _______________________.

A) XYZ is short-term oriented and ABC is long-term oriented
B) XYZ is focused on selling and ABC is focused on relationship building
C) Both firms are trying to achieve the same goal of profitability so tactics do not matter.
D) XYZ must be more successful since it advertises every week
E) Both a and b

Question 42

Customers may visit the Land's End clothing web site and order a pair of jeans that will be made especially for them.Land's End has adopted a ___________ approach.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) Product orientation
E) Relationship orientation

Question 43

The wristwatch industry was surprised when consumers began telling time by looking at their cell phones.This trend is identified by Wiersema's new market reality of _____________________.

A) Increase in demand
B) Customers have less time than ever
C) Information overwhelms and depreciates
D) All secrets are open secrets
E) Competitors proliferate

Question 44

There are about ___________ of new packaged goods products introduced each year.

A) 10,000
B) 25,000
C) 50,000
D) 100,000
E) over 500,000

Question 45

__________ is not one of the new market realities identified by Fred Wiersema.

A) Increase in demand
B) Customers have less time than ever
C) Information overwhelms and depreciates
D) All secrets are open secrets
E) Competitors proliferate

Question 46

Jack wants to get his new computer from the most famous mass customization marketer.He should purchase from __________.

A) Compaq
B) Hewlett-Packard
C) Apple
D) Dell
E) Gateway

Question 47

High tech media options like cell phones and the internet have had a huge impact the ________ aspect of marketing

A) Product
B) Promotion
C) Price
D) Distribution
E) Research

Question 48

Communicating and delivering value focuses on _____________________.

A) Supply chain management
B) Branding and positioning
C) retailing
D) integrated marketing communication
E) A, B, and D

Question 49

Customer Relationship Management is designed to __________.

A) Assign a sales representative to a particular customer
B) Allow software to manage marketing
C) Facilitate higher levels of customer satisfaction
D) Identify the most profitable customers
E) C and D

Question 50

Relationship-oriented firms are _______________;

A) Driven by meeting this quarter's financial projections
B) Seeking the most profitable customers who are highly satisfied with the firm's offering
C) Constantly investing in new customers and hope they become long-term
D) Often scrambling to replace lost customers
E) Trying to retain all customers

Question 51

The Clean-O company makes an all-purpose cleaner for the hospital and nursing home market that is guaranteed to kill 99% of staphylococcus germs, a major concern for medical facilities.The company is not interested in pursuing the consumer market.Clean-O has adopted a ___________.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) Relationship orientation
E) Product orientation

Question 52

The average American eats out ___ times a week.

A) 3
B) 5
C) 7
D) 8
E) 12

Question 53

The average consumer is exposed to about ___________ paid commercial messages every day.

A) 500-1,000
B) 1,000-2,000
C) 600-3,000
D) 2,000-4,000
E) over 4,000

Question 54

Don Peppers and Martha Rogers promote the idea of ____________.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) One-to-one marketing orientation
E) Relationship orientation

Question 55

The Internet has made it easy for customers to access information, disinformation, post their opinions and read other people's opinions.From a marketer's point of view, this has caused _______.

A) A shift to product glut and customer shortage
B) A shift in generational values and preferences
C) A shift in power from marketers to consumers
D) A shift to demanding return on marketing investment
E) A shift to Marketing (Big M) and marketing (little m)

Question 56

When Chili's, TGI Friday's , Outback Steakhouse and other fast-casual restaurants began offering curbside delivery for call-in customers, the trend seemed unnoticed by the 'fast-food' chains like McDonalds.This illustrates Fred Wiersema's new market reality of ____________________.

A) Competitors proliferate
B) All secrets are open secrets
C) Innovation is universal
D) Information overwhelms and depreciates
E) Easy growth makes hard times

Question 57

_____________ is not part of the marketing mix.

A) Product
B) Distribution
C) Promotion
D) Price
E) Manufacturing

Question 58

Fernandez Brothers, Inc.provides accounting services to small businesses.Before and after tax season, the partners meet with each client company.It sends a monthly newsletter to update clients with tax changes.The firm's business practices revolve around putting the customer at the center when developing services and practices.Smith Brothers has adopted a ________________ approach.

A) Market orientation
B) Mass customization orientation
C) Differentiation orientation
D) Relationship orientation
E) Product orientation

Question 59

Creating value focuses on _____________________.

A) Product development
B) Branding and positioning
C) Attention to service
D) Pricing
E) All of the above

Question 60

The concept of engaging in a learning relationship with customers and directing the firm's resources to making each product or service to feel tailored is known as ____.

A) Market orientation
B) Product orientation
C) Differentiation orientation
D) One-to-one marketing orientation
E) Relationship orientation

Question 61

Southwest Air was the only airline in the U.S.that did not lose money in the year following the 9/11 terrorist attacks on the United States in 2001.This decision most likely reflects the company's _____________.

A) Advertising budget
B) Marketing (Big M)
C) Marketing (little m)
D) Relationship orientation
E) Sales orientation

Question 62

How does the American Marketing Association define marketing?

Question 63

Give an example of an industry or firm that has transformed environmentally harmful products to environmentally friendly products.

Question 64

Customer orientation must be understood by _____________.

A) The sales force
B) Top management
C) Top management and middle management
D) Frontline personnel
E) Everyone in the organization

Question 65

_______________ is an example a market-driving firm.

A) Apple
B) Microsoft
C) Disney
D) None of the above
E) A, B, and C

Question 66

What does "everyone in the firm owns marketing" mean?

Question 67

How has the Internet empowered customers? Give an example.

Question 68

Today many CEOs and shareholders expect to measure results of marketing efforts because ___________.

A) Marketing metrics today are designed to assign specific results to specific marketing programs
B) They are unrealistic in believing that all marketing is measurable
C) It is easy to do
D) All of the above
E) A and C

Question 69

How can a firm create marketing-driving strategies? Give an example.

Question 70

Give an example of a brand to which you have an emotional attachment.What has the firm done to create that emotional appeal?

Question 71

Discuss the difference in being market-driven and market-driving.Give examples of each.

Question 72

All internal organizational practices should be aligned around ____.

A) The billing system
B) Management
C) Manufacturing
D) The customer
E) Information technology

Question 73

Many companies today pay their advertising agencies based on how much sales or market share increase after a particular advertising campaign is executed.This most likely occurs because _____________.

A) Marketing is viewed internally as an investment
B) There has been an increased demand for marketing accountability by CEOs and shareholders
C) Effective planning requires metrics
D) If it can't be measured, it can't be managed
E) All of the above

Question 74

In order for Marketing (Big M)to succeed, it must be championed by __________.

A) The sales force
B) Top management
C) Top management and middle management
D) Frontline personnel
E) Everyone in the organization

Question 75

The long-term objective of strategic marketing is ____________.

A) Customer satisfaction at all costs
B) Profitability through building a customer-oriented organization
C) Understanding where the company with be in 10, 20, 30 years
D) Getting ahead while doing well in society
E) Studying the competition

Question 76

State Farm Insurance offers products through a network of 16,000 independent agents.Assume that the company wants to launch a marketing campaign towards college students.Which marketing tactic would you recommend?

A) TV advertising during the evening news
B) Sponsoring National Public Radio during morning drive time
C) Setting up a My Space contest to win gas money
D) Sponsorship of a Rolling Stones concert tour
E) Direct mail

Question 77

Generational shifts impact marketing in terms of human resources.Older and younger generations may have _________________.

A) Different attitudes towards work life versus family life
B) Expectations about job satisfaction and rewards
C) Preferred modes of learning and working
D) All of the above
E) None of the above

Question 78

(Little m)marketing includes ____________.

A) Marketing strategy
B) Advertising
C) Brand image
D) A and C
E) B and C

Question 79

Define societal marketing and give an example of a firm that practices it.

Question 80

Identify marketing stakeholders.