Question 1

​It cost your firm a lot of money to sponsor a talk on relationship marketing by a so-called business guru.You feel the money was not well spent,because the speaker failed to discuss all key points.From the following list,choose the key point(s)about relationship marketing that should have been covered in the talk.
A)​Relationship marketing broadens the scope of external marketing relationships.
B)​Relationship marketing narrows the scope of external marketing relationships.
C)​Relationship marketing prioritizes external, customer-facing efforts over internal, intradepartmental efforts.
D)​To be successful in relationship marketing, firms must hire or develop a charismatic CEO.
E)​Relationship marketing is synonymous with social marketing.

Accepted Answer

Relationship marketing is about building long-term relationships and partnerships with external stakeholders, such as customers, suppliers, and distributors. It expands the scope of external marketing relationships beyond just selling products and services to customers.

Answer: C
 Relationship marketing involves a collaborative approach to developing and maintaining customer relationships by integrating all customer-facing efforts across the organization. This includes departments such as sales, marketing, customer service, and operations working together to deliver a seamless customer experience.

Both of these key points should have been covered in the talk, but D and E are not relevant to relationship marketing.

Question 2

Which of the following is an example of person marketing?
A)A firm creating awareness of the importance of using public transport.
B)A country promoting its sightseeing spots and cuisines.
C)A mall being inaugurated by a popular commercial actor.
D)A firm promoting an inter-state soccer match.

Accepted Answer

A mall being inaugurated by a popular commercial actor is an example of person marketing as the actor's popularity is being leveraged to attract people to the mall. The other options do not involve the promotion of a person or their personal brand.

Question 3

You have worked in marketing for over twenty years,and you have seen the discipline and the environment it operates in change dramatically over that period of time.However,you believe the marketing environment in the 21^st Century is changing at a pace faster than you have ever witnessed. Which of the following statements is TRUE about the marketing environment in the 21^st Century? A)The activities of the marketing organization must be broader in the 21^st Century in order to avoid marketing myopia. B)Social media and other technological advances have increased selling and marketing costs. C)E-commerce has not changed how firms reach new markets. D)Sustainability will not be an important consideration for the marketer in the 21^st Century. E)Technology is negatively impacting the marketer's ability to enhance relationships with customers and suppliers.

Accepted Answer

The marketing environment in the 21st century is changing at an unprecedented pace, and the activities of the marketing organization must be broader to avoid marketing myopia. This means that marketers need to consider a wider range of factors and innovative strategies to stay competitive and relevant in the constantly evolving market landscape.

Answer: B 
 Social media and other technological advances have actually reduced selling and marketing costs for many firms by allowing them to reach a wider audience more efficiently.

Answer: C 
 E-commerce has revolutionized how firms reach new markets and has opened up new opportunities for businesses to expand their customer base beyond traditional geographic boundaries.

Answer: D 
 Sustainability is becoming an increasingly important consideration for marketers as consumers become more eco-conscious and demand environmentally-friendly products and practices from companies.

Answer: E 
 Technology is actually enhancing the marketer's ability to enhance relationships with customers and suppliers by providing more data and analytics to inform marketing strategies and improve communication channels.

Question 4

The activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have values for customers,clients,partners,and society at large is called _____.
A)marketing
B)financing
C)operations
D)administration

Accepted Answer

Marketing involves all the activities and processes related to creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Financing refers to the management of money and financial resources, operations refer to the processes involved in producing and delivering goods and services, and administration refers to the organizational management and decision-making processes.

Question 5

Which of the following is NOT a non-profit organization?
A)​Golden State Warriors - an NBA franchise
B)​Boston College, a private university
C)​Alzheimer's Association
D)Boys and Girls Clubs of America

Accepted Answer

The Golden State Warriors are a for-profit organization, specifically a professional sports team in the NBA. The other choices are all non-profit organizations.

Question 6

What are the subfunctions of physical distribution?
A)Buying, selling, and financing
B)Risk taking and market research
C)Storing and transporting
D)Standardizing and grading

Accepted Answer

The subfunctions of physical distribution include storing and transporting products from producers to consumers. Options A, B, and D are incorrect as they pertain to other areas within the field of marketing, such as the activities involved in buying and selling products, conducting market research, and standardizing products.

Question 7

Availability of goods and services at convenient locations creates:
A)form utility.
B)time utility.
C)place utility.
D)ownership utility.

Accepted Answer

Availability of goods and services at convenient locations creates place utility, which refers to the convenience of having products or services available for purchase in a convenient location. This can include factors such as the proximity of a store to a customer’s home or workplace, its ease of access, and the availability of parking or public transportation.

Question 8

Assume you want to increase the number of customers by applying the marketing concept.Which of the following strategies would be most consistent with this approach?
A)Reduce product costs
B)Offer more product variety than competitors
C)Target markets
D)Employ inexpensive labor

Accepted Answer

Targeting markets is the most consistent strategy with the marketing concept. By identifying specific segments of the population that would be interested in the product or service and tailoring marketing efforts towards them, the company can increase their customer base by attracting more of their ideal target customers. Reducing product costs may attract some customers, but it is not sustainable in the long term, and doesn't necessarily attract the desired customers. Offering more product variety can help attract customers but it is not necessary relevant to the marketing concept. Employing inexpensive labor does not necessarily impact the number of customers.

Question 9

The NBA Sacramento Kings play their home games in the Arco Arena.The naming of their stadium is an example of which one of the following five types of nontraditional marketing?
A)​Stadium naming rights marketing
B)​Sports team marketing
C)​Organization marketing
D)​Event marketing
E)​Place marketing

Accepted Answer

The answer of The NBA Sacramento Kings play their home...

Question 10

If a company such as J.B.Trucking wanted to avoid marketing myopia,it should define its business as:
A)a provider of transportation solutions.
B)a trucking company.
C)a materials handling company.
D)a freight hauling firm.

Accepted Answer

Defining the business as a provider of transportation solutions allows for a broader scope beyond just trucking, indicating that the company could offer various modes of transportation and logistics services. This prevents being limited by a narrow definition of the industry and allows for potential growth and adaptation to changes in the market.

Question 11

The _____ is a companywide consumer orientation with the objective of achieving long-run success.
A)marketing myopia
B)exchange process
C)marketing concept
D)seller's market

Accepted Answer

The marketing concept is based on the companywide consumer orientation, which means that the company focuses on understanding its customers' needs and wants, and then providing products and services that satisfy those needs and wants. The objective of the marketing concept is to achieve long-run success by building profitable relationships with customers. This approach requires a company to be customer-centered, rather than product-centered or sales-centered, and to view marketing as a process of creating value for customers.

Question 12

A gaming corporation and a mobile manufacturer work together to develop unique games which are made available on the applications of the phones.This is an example of:
A)an exchange function.
B)marketing research.
C)social marketing.
D)a strategic alliance.

Accepted Answer

This is a strategic alliance, as two companies are working together to achieve a common goal of creating unique games.

Question 13

ACB Ltd.provides credit to dealers,as well as buyers of Alfresco Automobiles.The marketing function performed in this case is:
A)financing.
B)exchange.
C)distribution.
D)risk taking.

Accepted Answer

ACB Ltd. is providing credit to dealers and buyers, which falls under financing. Distribution involves the physical movement of goods, which is not being mentioned in the scenario. Exchange involves the buying and selling of goods or services, but there is no evidence of that happening here. Risk-taking involves assuming the uncertainty of market conditions, which is also not being mentioned in the scenario. Therefore, financing is the best choice for the marketing function being performed.

Question 14

Which one of the following statements about marketing is false?
A)Mobile marketing refers to marketing messages transmitted via wireless technology.
B)​Effective relationship marketing relies heavily on data and computer databases.
C)​The lifetime value of a customer consists of the revenues and intangible benefits derived from the firm's relationship with the customer.
D)​Buzz marketing involves using airplanes to "buzz" outdoor events with flying banners.
E)​Interactive marketing gives more control to the customer.

Accepted Answer

Buzz marketing does not involve using airplanes to "buzz" outdoor events with flying banners. This statement is false as it is an inaccurate description of buzz marketing. Buzz marketing refers to creating a "buzz" or excitement around a product or service through word-of-mouth and viral marketing techniques.

Question 15

The Today Show partnered with the US National Parks in 2016 to celebrate 100 years of national parks.Various Today Show regulars such as Matt Lauer and Al Roker were featured visiting the parks.This campaign is an example of _____ marketing,a type of nontraditional marketing.
A)​place
B)​person
C)​event
D)​cause

Accepted Answer

This campaign is an example of place marketing, which involves promoting a location to attract visitors or enhance its image. The Today Show's partnership with the US National Parks aimed to celebrate and promote the parks, fitting the definition of place marketing.

Question 16

Melissa is campaigning for Janet,her friend,who is contesting for the presidency of the student council at Riverdale Junior College.Melissa's effort is an example of _____ marketing.
A)cause
B)person
C)place
D)organization

Accepted Answer

Melissa is promoting Janet as an individual/person, hence it is an example of person marketing.

Question 17

Forever 21 is a popular fashion clothing company for women and often attracts customers to its website or retail stores by posting pictures to its Facebook and Instagram account.Forever 21 has over 10 million followers on Instagram and over 13 million on Facebook.What marketing era best describes Forever 21 and its approach to marketing activities?
A)​social
B)​marketing
C)​sales
D)​production

Accepted Answer

The approach of Forever 21 to marketing activities is best described as the social marketing era, which focuses on creating relationships and engagement with customers through social media platforms such as Facebook and Instagram. Forever 21's use of these channels to share fashion content, attract customers, and share deals and promotions represents a social marketing approach that is focused on building relationships and connections with consumers through social media.

Question 18

​In this era of marketing,strategic alliances are (were)very important.
A)​The social era
B)​The production era
C)​The marketing era
D)​The sales era
E)​The relationship era

Accepted Answer

Strategic alliances are particularly important in the relationship era, where businesses focus on building long-term relationships with customers and other companies to create value and competitive advantage.

Question 19

Creating _____ utility is the responsibility of the production function.
A)place
B)form
C)time
D)ownership

Accepted Answer

The creation of form utility is the responsibility of the production function. Form utility refers to the transformation of raw material or inputs into a finished product that has increased value to consumers.

Question 20

As an official sponsor of the Olympics,The Coca-Cola Company engages in _____ marketing.
A)place
B)event
C)person
D)organization

Accepted Answer

Event marketing involves endorsing or sponsoring a specific event or activity to promote a brand or product. As an official sponsor of the Olympics, Coca-Cola engages in event marketing.

Quiz 1: Marketing: the Art and Science of Satisfying Customers

Which of the following is an example of person marketing?

The activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have values for customers,clients,partners,and society at large is called _____.

Which of the following is NOT a non-profit organization?

What are the subfunctions of physical distribution?

Availability of goods and services at convenient locations creates:

Assume you want to increase the number of customers by applying the marketing concept.Which of the following strategies would be most consistent with this approach?

The NBA Sacramento Kings play their home games in the Arco Arena.The naming of their stadium is an example of which one of the following five types of nontraditional marketing?

If a company such as J.B.Trucking wanted to avoid marketing myopia,it should define its business as:

The _____ is a companywide consumer orientation with the objective of achieving long-run success.

A gaming corporation and a mobile manufacturer work together to develop unique games which are made available on the applications of the phones.This is an example of:

ACB Ltd.provides credit to dealers,as well as buyers of Alfresco Automobiles.The marketing function performed in this case is:

Which one of the following statements about marketing is false?

The Today Show partnered with the US National Parks in 2016 to celebrate 100 years of national parks.Various Today Show regulars such as Matt Lauer and Al Roker were featured visiting the parks.This campaign is an example of _____ marketing,a type of nontraditional marketing.

Melissa is campaigning for Janet,her friend,who is contesting for the presidency of the student council at Riverdale Junior College.Melissa's effort is an example of _____ marketing.

In this era of marketing,strategic alliances are (were) very important.

Creating _____ utility is the responsibility of the production function.

As an official sponsor of the Olympics,The Coca-Cola Company engages in _____ marketing.