Question 1

The _______ is a management philosophy that guides the overall activities of the organization. It evolved over time from a ___________ in the latter half of the 19th century to a ________________ in the first half of the 20th century that emphasized advertising, personal selling, and distribution.

Accepted Answer

The correct answer is E) marketing concept; production orientation; sales orientation. This reflects the evolution from a focus on producing goods efficiently without much regard for what consumers specifically wanted (production orientation), to a period where the emphasis was on selling and promoting the products that were made (sales orientation), and finally to the marketing concept, which focuses on meeting the needs and wants of consumers.

Question 2

Ruth owns a company that sells snowboards. During the winter, she sells so many snowboards that she constantly has to restock. However, Ruth always seems to have dozens of snowboards left in inventory once spring hits and demand falls rapidly. To try and sell these excess snowboards, Ruth offers steep discounts on her products, invests heavily in advertising to make consumers aware of the discounts, and instructs her in-store salespeople to use strong persuasion tactics to convince them to purchase the remaining snowboards. During this period of time, what type of orientation is Ruth embracing?

Accepted Answer

Ruth is embracing a sales orientation, as indicated by her focus on selling excess inventory through discounts, advertising, and persuasion, rather than adapting her product or marketing strategies based on consumer demand or needs.

Question 3

There are four conditions that must be met before an exchange can take place. Once these conditions are met, an exchange will always take place.

Accepted Answer

The four conditions that must be met before an exchange can take place are 1) parties have something of value to exchange, 2) parties are able to communicate and deliver what is being exchanged, 3) parties are free to accept or reject the exchange, and 4) parties believe the exchange will benefit them. These conditions do not guarantee that an exchange will always take place. There may be other factors, such as changes in market conditions, that could prevent an exchange from occurring.

Question 4

Soda sales are declining as more consumers are concerned about their health. This represents a change in the __________. As a result, soda companies have begun releasing smaller sized sodas and sodas with less sugar.

Accepted Answer

The declining sales of soda due to health concerns of consumers represents a change in the marketing environment, as external factors such as consumer attitudes and behaviors are affecting the demand for the product. The companies' response of releasing smaller sized and lower sugar options is an adjustment to the marketing mix.

Question 5

It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that stay colder longer.

Accepted Answer

Parents are often the ones who purchase lunchboxes for their children and would be interested in products that keep food fresh for longer periods of time.  Additionally, parents may be concerned about food safety and want a lunchbox that reduces the risk of bacterial growth.

Question 6

The reason the marketing concept is named this way is that it pertains solely to marketing.

Accepted Answer

The marketing concept is not named solely because it pertains to marketing. It is named so because it emphasizes the importance of meeting the needs and wants of customers in order to achieve organizational goals. It covers all aspects of the business, not just marketing.

Question 7

Sara is a flamenco dancer who wants to become a professional. Every time she has a performance, she places a flyer in the local community center and encourages her friends to tell others about the performance. Sara is engaging in marketing activities.

Accepted Answer

By placing flyers and encouraging word-of-mouth promotion, Sara is promoting her performances and engaging in marketing activities.

Question 8

The essence of marketing is

Accepted Answer

The essence of marketing is to develop satisfying exchanges from which both customers and marketers benefit. This involves creating value for customers through the marketing mix (product, price, promotion, and place) while also achieving the objectives of the company. Marketing is not just about selecting a target market or securing the highest market share, but rather about building relationships with customers that result in mutual benefit.

Question 9

American Airlines' frequent-flyer program awards AAdvantage Miles to passengers when they fly with its airline. When passengers accumulate a certain amount of miles, they can redeem them to get discounts on flights. Why has American Airlines adopted this frequent-flyer initiative?

Accepted Answer

American Airlines adopted the frequent-flyer program to develop positive relationships with customers. This initiative helps in incentivizing passengers to choose American Airlines over its competitors repeatedly, which leads to increased loyalty and positive word-of-mouth marketing. It is a strategy to retain customers and maintain long-term profits rather than just focusing on immediate gains.

Question 10

Marketing activities help to produce __________ without which a business cannot survive. The success of businesses tends to lead to job creation, a higher standard of living, and even money to go toward social causes. Therefore, marketing contributes to the ___________ of society.

Accepted Answer

The statement "Marketing activities help to produce profits without which a business cannot survive" supports option D. The latter part of the statement "marketing contributes to the well-being of society" is also supported by the fact that successful businesses lead to job creation, higher living standards, and social responsibility initiatives.

Question 11

Which of the following companies would most likely target tech enthusiasts eager to try the latest products?

Accepted Answer

Apple is known for launching new and innovative technology products regularly and has a loyal following of tech enthusiasts who are eager to try out their latest products.

Question 12

Which of the following is true about the marketing environment?

Accepted Answer

The effects of marketing environment forces can be difficult to predict. This is because the marketing environment is constantly changing and there are many factors that can impact it, making it difficult to anticipate all the potential outcomes.

Question 13

Walmart's tagline "Save Money, Live Better" emphasizes which marketing mix variable?

Accepted Answer

The tagline "Save Money, Live Better" emphasizes the pricing variable of the marketing mix as it directly highlights the cost savings that Walmart offers to its customers.

Question 14

You work in the marketing department of a company that sells computers directly to customers. Recently, your CEO decided he wants to expand and begin selling through popular retailers. You have been given the task of identifying retailers that reach a significant portion of the target market but that also fit with the quality of your company's brand. Once these retailers are selected, you are to work with these retailers to negotiate shelf placement. Your job deals mainly with which marketing attribute?

Accepted Answer

The task given to the marketing department involves identifying retailers for distribution and negotiating shelf placement, indicating that the marketing attribute being dealt with is distribution.

Question 15

Panera Bread made the announcement that it was getting rid of food additives. Which of the following most likely influenced Panera Bread's decision?

Accepted Answer

The marketing environment, which includes consumer preferences and societal trends towards healthier and more natural foods, likely influenced Panera Bread's decision to eliminate food additives. This reflects an adaptation to external environmental factors.

Question 16

CEO Jeff Bezos has a public e-mail address and encourages customers to contact him if they have problems that have not been resolved. Amazon.com seems to embrace a ___________ orientation.

Accepted Answer

Amazon.com embraces a market orientation, focusing on customer satisfaction and feedback to improve their services and products.

Question 17

Relationship marketing focuses on satisfying customers to generate the most profit.

Accepted Answer

Relationship marketing emphasizes building long-term relationships with customers to foster loyalty and repeat business, rather than focusing solely on immediate profit.

Question 18

The ability to identify individual customers allows marketers to shift their focus from

Accepted Answer

Knowing individual customers allows marketers to focus on share of customer instead of share of market as they can tailor their marketing efforts towards retaining each customer and increasing their lifetime value.

Question 19

Which of the following about marketing is true?

Accepted Answer

Marketing aims to communicate information about products or services to the market. By increasing consumer awareness, marketing can help consumers make informed purchasing decisions.

Answer: B
 Marketing is used by both for-profit and non-profit organizations as well as government agencies. Its purpose is to promote products, services, ideas, or causes to a target market.

Answer: D
 Marketing activities are not declining due to new technology, but rather evolving to adapt to changing consumer behavior, trends, and technologies.

Answer: None of the above
 Choice C is not true because marketing is not directly related to the government's structure or policies. Choice E is not true as the highest-paying profession varies based on the industry and job title.

Question 20

Marketing activities can occur even when an exchange doesn't take place.

Accepted Answer

Marketing activities can occur in various forms such as brand awareness campaigns, content marketing, social media engagement, and customer relationship management even if an actual transaction or exchange of money or goods doesn't occur.

Quiz 1: An Overview of Strategic Marketing

The _ is a management philosophy that guides the overall activities of the organization. It evolved over time from a _ in the latter half of the 19th century to a ____________ in the first half of the 20th century that emphasized advertising, personal selling, and distribution.