Question 1

"Economies of scale" prevent a company from taking advantage of mass production.

Accepted Answer

Most firms specialize in producing and selling large amounts of a narrow assortment of goods and services, which allows them to take advantage of mass production with its economies of scale.

Question 2

Marketing activities should begin with potential customer needs,not with the production process.

Accepted Answer

Marketing, rather than production, should begin with determining what goods and services are to be developed to satisfy customer needs.

Question 3

Production,not marketing,should determine what products are to be made.

Accepted Answer

Marketing should begin with potential customer needs and not with the production process.

Question 4

Macro-marketing is concerned with examining the relationship of the entire production and distribution system.

Accepted Answer

Macro-marketing is concerned with the flow of need-satisfying goods and services from producers to consumers.

Question 5

Macro-marketing emphasizes how the whole system works,rather than the activities of individual organizations.

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 6

"Economies of scale" means that as a company produces more of a product,the total cost of production goes up.

Accepted Answer

Economies of scale means that as a company produces larger numbers of a particular product, the cost of each unit of the product goes down.

Question 7

An effective macro-marketing system matches heterogeneous supply with heterogeneous demand.

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 8

Marketing activities should be of no interest to a nonprofit organization.

Accepted Answer

Marketing applies to both profit and nonprofit organizations.

Question 9

In a pure subsistence economy-when each family unit produces everything it consumes-no marketing is involved.

Accepted Answer

In a pure subsistence economy, when each family unit produces everything it consumes, there is no need to exchange goods and services and no marketing is involved.

Question 10

Marketing is concerned with individual transactions rather than with building ongoing relationships with customers because that is the job of people in the public relations department.

Accepted Answer

The marketing flow of need-satisfying goods and services is not just for a single transaction but rather is part of building a long-lasting relationship that benefits both the firm and the customer.

Question 11

Achieving effective marketing in an advanced economy is simplified by the fact that producers are separated from consumers in only two ways: time and space.

Accepted Answer

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways such as space, time, information and values, and ownership.

Question 12

The term "economies of scale" means that as a company produces larger numbers of a particular product,the cost for each unit of the product goes down.

Accepted Answer

Economies of scale means that as a company produces larger numbers of a particular product, the cost of each unit of the product goes down.

Question 13

Macro-marketing emphasizes how the whole marketing system works.

Accepted Answer

The emphasis with macro-marketing is on how the whole marketing system works, which includes looking at how marketing affects society and vice versa.

Question 14

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

Accepted Answer

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

Question 15

Macro-marketing emphasizes the activities of individual organizations.

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 16

Macro-marketing is a set of activities that direct 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.

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

Marketing does not occur unless there are two or more parties who want to exchange something for something else.

Accepted Answer

Marketing involves a flow of need-satisfying offerings from a producer to a customer, which implies that there is an exchange of the offering for something else, such as the customer's money.

Question 18

Micro-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 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 19

A marketing exchange is a single transaction between a firm and a customer,nothing more.

Accepted Answer

Marketing exchange is often part of an ongoing relationship, not just a single transaction.

Question 20

Marketing only applies to for-profit organizations.

Accepted Answer

Marketing applies to both profit and nonprofit organizations.

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

"Economies of scale" prevent a company from taking advantage of mass production.

Marketing activities should begin with potential customer needs,not with the production process.

Production,not marketing,should determine what products are to be made.

Macro-marketing is concerned with examining the relationship of the entire production and distribution system.

Macro-marketing emphasizes how the whole system works,rather than the activities of individual organizations.

"Economies of scale" means that as a company produces more of a product,the total cost of production goes up.

An effective macro-marketing system matches heterogeneous supply with heterogeneous demand.

Marketing activities should be of no interest to a nonprofit organization.

In a pure subsistence economy-when each family unit produces everything it consumes-no marketing is involved.

Marketing is concerned with individual transactions rather than with building ongoing relationships with customers because that is the job of people in the public relations department.

Achieving effective marketing in an advanced economy is simplified by the fact that producers are separated from consumers in only two ways: time and space.

The term "economies of scale" means that as a company produces larger numbers of a particular product,the cost for each unit of the product goes down.

Macro-marketing emphasizes how the whole marketing system works.

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

Macro-marketing emphasizes the activities of individual organizations.

Macro-marketing is a set of activities that direct 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.

Marketing does not occur unless there are two or more parties who want to exchange something for something else.

Micro-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 society's objectives.

A marketing exchange is a single transaction between a firm and a customer,nothing more.

Marketing only applies to for-profit organizations.