Question 1

The key focus of the American Marketing Association's (AMA) 2013 definition of marketing is:
A) organizational activities.
B) product components.
C) shareholder returns.
D) customers.

Accepted Answer

The American Marketing Association's (AMA) 2013 definition of marketing emphasizes the importance of delivering value to customers, indicating that the key focus is on customers.

Question 2

The key difference between sales and marketing is that:
A) marketing emphasizes the process of 'product pull' and sales focuses on 'product push'.
B) marketing emphasizes the process of 'product push' and sales focuses on 'product pull'.
C) marketing only exists in B2C marketing contexts.
D) both marketing and sales have the same process of 'product push' and 'product pull'.

Accepted Answer

Marketing emphasizes creating demand or 'product pull' through strategies aimed at understanding and meeting customer needs, while sales focus on 'product push', directly encouraging customers to purchase the available products.

Question 3

The consumer goods perspective has been dominant in the history of marketing. The concept is concerned with ideas of:
A) service to customers.
B) marketing mix.
C) business to business.
D) customers' experience.

Accepted Answer

The consumer goods perspective in marketing history has been primarily concerned with the marketing mix, which includes product, price, place, and promotion strategies.

Question 4

The core competencies of the marketer are to, champion the customer and hence customer focus, and develop marketing strategy.
A) design products
B) generate customer insights
C) develop sales skills
D) Improve business process

Accepted Answer

Generating customer insights is crucial for championing the customer and focusing on their needs, which directly informs the development of effective marketing strategies.

Question 5

In the ---------- of exchange, we have a manufacturer dealing directly with its customers. An example here would be Dell, the computer manufacturer, selling directly from its website and via the telephone.
A) fifth type
B) first type
C) third type
D) second type

Accepted Answer

The answer of In the ---------- of exchange, we have...

Question 6

What is the way in which the offering is delivered to the customer?
A) price.
B) promotion.
C) place.
D) product.

Accepted Answer

The way in which the offering is delivered to the customer is referred to as "place" in marketing terms. This encompasses the distribution channels, locations, and methods used to make the product or service available to the customer.

Question 7

As intangible services have increased in their importance the marketing mix, the 4Ps theory has been further developed to incorporate an additional 3Ps; creating the 7Ps of services marketing. These new 3Ps include:
A) people, profit and processes.
B) processes, promotion and people.
C) physical evidence, people and processes.
D) place, people and processes.

Accepted Answer

The additional 3Ps in the 7Ps of services marketing are physical evidence, people, and processes. This expansion from the original 4Ps (product, price, place, promotion) acknowledges the unique challenges of marketing intangible services.

Question 8

____________ need to develop long-term customer relationships, including relationships with suppliers; potential employees; recruiters; referral markets influence markets and Internal markets.
A) transaction marketing
B) B2C marketing
C) B2B marketing
D) relationship marketing

Accepted Answer

Relationship marketing focuses on developing long-term relationships with various stakeholders, including suppliers, potential employees, recruiters, and internal markets, to build a strong, loyal network over time.

Question 9

Circular economy is beyond the …….
A) aggregate marketing system .
B) unethical marketing practice .
C) creating wants or needs .
D) take-make-waste business model .

Accepted Answer

The circular economy is a model that contrasts with the traditional linear economy's "take-make-waste" approach. It emphasizes reducing waste, reusing products, and recycling materials to create a closed-loop system, aiming for sustainability and minimizing environmental impact.

Question 10

The aggregate marketing system delivers to us a wide array of offerings, either directly or indirectly through business markets, to serve our wants and needs.

Accepted Answer

The aggregate marketing system encompasses all activities, institutions, and processes by which goods and services are communicated and delivered through a supply chain to consumers. This system indeed delivers a wide array of offerings to meet various wants and needs, either directly to consumers or indirectly through business markets.

Question 11

Marketing plays an important role in developing and transforming
society .

Accepted Answer

Marketing not only promotes products and services but also influences lifestyles, trends, and societal norms, thereby playing a significant role in societal development and transformation.

Question 12

The Chartered Institute of Marketing (CIM) definition of marketing differs to the definition offered by the American Marketing Association (AMA) in that it focuses on 'satisfying customer requirements profitably' as opposed to 'delivery of value'?

Accepted Answer

The CIM definition emphasizes "satisfying customer requirements profitably," highlighting the importance of meeting customer needs in a way that is financially beneficial for the company. In contrast, the AMA definition focuses on 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," which centers more broadly on the delivery of value to various stakeholders.

Question 13

The behaviours of a customer and the behaviours of a consumer are the same.

Accepted Answer

A customer is someone who buys goods or services, while a consumer is someone who uses them. Their behaviors can differ because a person might buy something for someone else's use, making them a customer but not the consumer.

Question 14

B2B marketing is essentially the same as consumer marketing

Accepted Answer

B2B (Business to Business) marketing focuses on the needs, interests, and challenges of individuals who are making purchases on behalf of, or for, their organization (thus involving a more complex decision-making process), whereas consumer marketing targets individual consumers who are buying for personal use.

Question 15

Marketing is a one-way process as it's solely about the marketing organization doing the work.

Accepted Answer

Marketing is a two-way process involving communication and engagement between the marketing organization and its target audience, allowing for feedback and adaptation.

Question 16

The key difference between a customer and a consumer is that: a consumer purchases a product and a customer consumes it.

Accepted Answer

A customer is the one who purchases the product, while a consumer is the one who actually uses or consumes the product.

Question 17

Understanding buyer psychology is fundamental to the marketing function. Because marketing is about understanding customers' needs, empathy with customers is a prerequisite.

Accepted Answer

Understanding buyer psychology is essential in marketing as it involves comprehending and empathizing with customers' needs, preferences, and decision-making processes, which are crucial for creating effective marketing strategies.

Question 18

An organization that is characterized as developing a market orientation: will appoint a marketing person to its board of directors, or trustees in the case of a charity, or part of the executive team in a limited company or partnership..

Accepted Answer

The answer of An organization that is characterized as developing...

Question 19

Much B2B marketing activity revolves around the need to develop strong prospects for a offerings, to ensure effective supply chain management operations to develop the market for a B2B offering, and to ensure that it is delivered appropriately.

Accepted Answer

B2B marketing focuses on building relationships and developing strong prospects for offerings, which is essential for effective supply chain management and ensuring that products or services are delivered appropriately to meet the needs of business customers.

Question 20

The focus of marketing in consumer goods context is on:
A) The focus of marketing in consumer goods context is on how to facilitate the rapid exchange of goods, the effectiveness of marketing in matching supplier offering to customer demand, and efficiency in managing the distribution of the product through the supply chain.
B) satisfy management's needs and wants with the idea of maximizing profits in the short term.
C) the need to develop strong prospects for a company's offerings, to ensure effective supply chain management operations and to ensure it is delivered appropriately.
D) the quality of service offered as well as the difference between customer perceptions of actual service quality and their expectations of service quality.

Accepted Answer

Marketing in consumer goods focuses on facilitating the exchange of goods, matching supplier offerings to customer demand, and managing distribution efficiently.

Quiz 1: Marketing Principles and Practice

The key focus of the American Marketing Association's (AMA) 2013 definition of marketing is:

The key difference between sales and marketing is that:

The consumer goods perspective has been dominant in the history of marketing. The concept is concerned with ideas of:

The core competencies of the marketer are to, champion the customer and hence customer focus, and develop marketing strategy.

In the ---------- of exchange, we have a manufacturer dealing directly with its customers. An example here would be Dell, the computer manufacturer, selling directly from its website and via the telephone.

What is the way in which the offering is delivered to the customer?

As intangible services have increased in their importance the marketing mix, the 4Ps theory has been further developed to incorporate an additional 3Ps; creating the 7Ps of services marketing. These new 3Ps include:

____________ need to develop long-term customer relationships, including relationships with suppliers; potential employees; recruiters; referral markets influence markets and Internal markets.

Circular economy is beyond the …….