Question 1

By allowing consumers to sell their unwanted goods to other consumers,auction sites like eBay cater to __________ marketing.

Accepted Answer

C2C marketing refers to consumer-to-consumer marketing, where consumers sell their products or services to other consumers. eBay allows consumers to list their unwanted goods for others to bid on, making it an example of C2C marketing.

Question 2

Which element of the marketing mix deals with supply chain management?

Accepted Answer

Place, also known as distribution, deals with how the product or service reaches the customer. This includes supply chain management, which involves coordinating the flow of goods from suppliers to manufacturers to distributors to retailers to customers.

Question 3

Henry Ford's statement,"Customers can have any color they want so long as it's black," typified the __________ era of marketing.

Accepted Answer

Henry Ford's statement reflects a production-oriented era of marketing, where companies focused on efficient production of a limited range of standardized products. In this era, customer preferences were not a significant factor in product design and manufacturers primarily aimed to increase production and efficiency to drive down costs.

Question 4

Melanie works for a small computer software company.Her boss is constantly improving the company's products but neglects customers,billing,and promoting the company.Her boss is probably stuck in the __________ era of marketing.

Accepted Answer

The production-oriented era of marketing refers to a time when businesses focused primarily on improving production efficiency and producing quality products. These businesses believed that if they produced high-quality products at a low cost, customers would naturally buy them without much need for advertising or promotion. Melanie's boss is neglecting important customer-centric elements of marketing such as billing and promotion, suggesting that he is focused solely on improving the product without considering the customer's needs and desires. Therefore, it can be concluded that Melanie's boss is likely stuck in the production-oriented era of marketing.

Question 5

By promoting perfume based on youth,style,and sex appeal,Calvin Klein is attempting to

Accepted Answer

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is trying to increase the perceived value of its products. This is because the target audience is more likely to see the product as desirable and of high quality if it is associated with youth, style, and sex appeal.

Question 6

Marketers involved in value-oriented marketing are constantly balancing

Accepted Answer

Value-oriented marketing focuses on providing customers with perceived benefits that outweigh the costs of the offerings. Marketers need to carefully balance the perceived benefits of their offerings with the costs to make sure they are providing customers with good value while also generating adequate profits for their company.

Question 7

As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from __________ to __________ marketing.

Accepted Answer

The car manufacturers were considering switching from selling Business-to-Business (B2B) to selling Business-to-Consumer (B2C). However, they ultimately decided to continue selling through their existing dealer networks.

Question 8

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold.

Accepted Answer

During the sales-oriented era, the focus was on selling products that were already made, rather than making products based on what the market wanted. This approach often involved finding customers for inventories that went unsold, emphasizing aggressive sales techniques.

Question 9

Shipping companies such as UPS,FedEx,and DHL support other firms' __________ marketing goals.

Accepted Answer

Shipping companies like UPS, FedEx, and DHL are responsible for delivering the products purchased by customers, which is a critical aspect of supply chain management. They support other firms' supply chain management goals by providing fast and reliable delivery services that ensure the smooth flow of goods from the manufacturer to the end consumer. While shipping companies may also help with other aspects of marketing, such as promotion and value communication, their primary role is in supply chain management.

Question 10

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students.These bulletin boards increase __________ marketing.

Accepted Answer

These bulletin boards facilitate exchange between students, making it a direct consumer-to-consumer (C2C) marketing channel.

Question 11

The "Milk Life" advertising campaign,designed to increase consumption of milk,was intended to help market a(n)

Accepted Answer

The "Milk Life" advertising campaign was created to increase consumption of milk, which is a product. However, the campaign was intended to benefit the entire dairy industry, not just one specific company or organization. Therefore, the best choice is C, industry.

Question 12

__________ is communication by a marketer that informs,persuades,or reminds potential customers about a product.

Accepted Answer

Promotion is the marketing communication through which the marketer informs, persuades, or reminds potential customers about a product, with the aim of making a sale. It involves advertising, sales promotion, personal selling, public relations, and direct marketing. Pricing (A) is the process of setting a value for a product, whereas placement (C) refers to the distribution of the product to the market. A relational orientation (D) is a customer-centric approach to marketing that focuses on building long-term relationships with customers. Value cocreation (E) is a strategy that involves collaborating with customers to create value for both the customer and the business.

Question 13

Near the end of the model year,Move-Them-Out automobile dealership had an unusually high inventory level.The manager increased her advertising spending and gave extra incentives to its salespeople.Move-Them-Out operates as if it were in the __________ era.

Accepted Answer

The fact that the dealership increased its advertising spending and gave extra incentives to salespeople indicates that it operated as a sales-oriented organization, prioritizing selling products and increasing sales over understanding and meeting customer needs (market-oriented) or delivering superior value to customers (value-based marketing).

Question 14

The idea that a good product will sell itself is associated with the __________ era of marketing.

Accepted Answer

During the production-oriented era of marketing, companies believed that focusing on producing high-quality products was enough for them to succeed in the market. The idea was that if a product was good enough, it would sell itself without any additional marketing efforts.

Question 15

The importance of supply chain management is often overlooked in the study of marketing because

Accepted Answer

Supply chain management involves activities such as sourcing, procurement, production, logistics, and distribution, which often take place behind the scenes. Therefore, it may not be apparent to customers how important it is to the overall marketing process. However, supply chain management plays a critical role in ensuring that products are adequately sourced, produced, and delivered to customers, which ultimately affects customer satisfaction and loyalty. Hence, although it is not directly related to marketing, the importance of supply chain management in achieving marketing objectives cannot be overemphasized.

Question 16

The marketing goal of getting the "right quantities to the right locations,at the right time" relates to

Accepted Answer

Managing the supply chain involves ensuring that products are available at the right quantities, in the right locations, and at the right time. This is essential for meeting customer demand and maximizing efficiency.

Question 17

When retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts it is considered _______ marketing.

Accepted Answer

B2C (Business-to-Consumer) marketing involves selling goods or services directly to end consumers, which is done by retailers who accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts.

Question 18

The evolution of marketing progressed along the following continuum:

Accepted Answer

The evolution of marketing typically follows the progression from production, where the focus was on manufacturing efficiency, to sales, where the emphasis shifted to selling products, then to marketing, which focused on customer needs, and finally to value-based marketing, which emphasizes creating value for customers.

Question 19

During the __________ era,firms had excess capacity and used personal selling and advertising to generate customers.

Accepted Answer

During the sales-oriented era, firms focused on generating customers through personal selling and advertising, and had excess capacity.

Question 20

Effective promotion enhances a product or service's

Accepted Answer

Effective promotion can increase the perceived value of a product or service, making it more attractive to potential customers. Supply chain management, wholesaling capabilities, design features, and trialability are important factors, but they are not directly impacted by promotion.

Quiz 1: Overview of Marketing