Question 1

________ is the only part of the business that generates revenue.
A)Finance
B)Manufacturing
C)Customer service
D)Marketing
E)Accounting

Accepted Answer

Marketing is the only part of the business that directly generates revenue by promoting and selling the products or services. While finance, manufacturing, customer service, and accounting are important components of a successful business, they do not directly generate revenue.

Question 2

Marketers must work with ________ departments to determine if products are profitable,set marketing budgets and determine price.
A)manufacturing
B)human resources
C)finance and accounting
D)sales
E)customer service

Accepted Answer

Finance and accounting departments are responsible for analyzing financial data to determine the profitability of products, setting budgets for marketing expenses, and helping to determine the appropriate price for products. Manufacturing departments are responsible for producing products, human resources departments are responsible for managing employees, sales departments are responsible for generating revenue through the sale of products, and customer service departments are responsible for providing support to customers. While these departments can provide valuable information for marketing decision-making, finance and accounting departments are the most directly involved in determining product profitability, marketing budgets, and pricing.

Question 3

Which of the following would be considered as an organisation's stakeholders?
A)Sellers
B)Investors
C)Community residents
D)Buyers
E)All of the above

Accepted Answer

Stakeholders are individuals, groups or entities that can affect or be affected by an organization's actions, objectives and policies. Sellers, investors, community residents and buyers are all examples of stakeholders as they have a vested interest in the organization's success or failure.

Question 4

Marketers may have backgrounds in which of the following?
A)Computer science
B)English
C)Merchandise or design
D)Law
E)All of the above

Accepted Answer

Marketers can come from a variety of backgrounds, including computer science for digital marketing, English for content creation, merchandise or design for product marketing, and law for compliance and regulations. Therefore, all of the choices are valid backgrounds for a marketer.

Question 5

Marketing is the activity,set of ________ and processes for creating,________,delivering and exchanging offerings that have ________ for customers,clients,partners and society at large.
A)institutions; communicating; value
B)procedures; serving; utility
C)guidelines; advertising; utility
D)procedures; communicating; costs
E)institutions; advertising; value

Accepted Answer

Marketing involves institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 6

Marketers come from a variety of backgrounds,including computer science and the law.

Accepted Answer

It is true that marketers come from a variety of backgrounds, which can include computer science and law. Marketing involves a range of skills and knowledge, from analytical thinking and data analysis to communication and strategic planning, and individuals with diverse educational backgrounds can bring unique perspectives and experiences to the field.

Question 7

Marketers first identify consumer needs and then provide products that satisfy those needs,ensuring the firm's long-term profitability.
A)consumer orientation
B)marketing concept
C)production orientation
D)marketing mix
E)total quality management orientation

Accepted Answer

The marketing concept is a business philosophy that puts the customer at the center of all activities. It involves identifying consumer needs and wants and then providing products that satisfy those needs, ultimately leading to the firm's long-term profitability. This approach requires the firm to focus on the entire marketing mix, including product, price, promotion, and place, to create superior customer value and meet customer expectations.

Question 8

________ is all about creating and delivering value to both customers and organisations.
A)Competitive advantage
B)Value chain
C)Demand
D)Marketing
E)Popular culture

Accepted Answer

Marketing is the process of creating and delivering value to customers in order to achieve competitive advantage for the organization. It involves understanding customer needs and wants, developing products and services that meet those needs, and promoting those products and services in a way that persuades customers to buy them. A value chain refers to the set of activities involved in creating and delivering a product or service to a customer, while demand refers to the quantity of a product or service that customers are willing to buy at a given price. Popular culture is a term used to describe the cultural trends and phenomena that are popular among the general population.

Question 9

Which of the following statements about marketing's role in the company is not true?
A)In some companies,marketing is an afterthought.
B)In large companies,the chief marketing officer is usually at the top of the organisational hierarchy.
C)When the chief executive officer comes from marketing,companies tend to be more marketing oriented.
D)Sometimes companies use the term marketing when they mean advertising and sales.
E)In small organisations,there is never anyone specifically designated as the marketing person.

Accepted Answer

The answer of Which of the following statements about marketing's...

Question 10

One of the more important parts of marketing is to ________.
A)change prices every month based upon the rise or fall of the stock market
B)understand why consumers' demand of a product is not something that is important
C)meet the needs of diverse stakeholders
D)teach people ways to spend their money
E)help keep people employed

Accepted Answer

Meeting the needs of diverse stakeholders is important in marketing because it ensures that the company is considering the needs and interests of all parties involved in the marketing process, including customers, employees, shareholders, and the wider community. This helps to build trust and loyalty and creates a positive image for the brand. Changing prices every month based on the stock market, ignoring consumer demand, teaching people to spend their money, or helping to keep people employed are not necessarily important or relevant to marketing.

Question 11

Which of the following is an example of a consumer?
A)Bill,who paid to attend the Big Day Out
B)Robin,who bought a soft drink from a nearby vending machine
C)Mia,who paid to have her digital photographs printed
D)Tyler,who attends a marketing class for which she paid her tuition fees
E)All of the above

Accepted Answer

All of the choices involve individuals who have purchased goods or services for their personal use, making them consumers. Bill paid to attend the Big Day Out, Robin bought a soft drink from a vending machine, Mia paid to have her digital photos printed, and Tyler paid tuition fees to attend a marketing class.

Question 12

The ultimate user of a good,idea or service is called a ________.
A)utility demander
B)business operative
C)owner
D)title holder
E)consumer

Accepted Answer

The term "consumer" refers to the ultimate user of a good, idea, or service. They are the ones who purchase or use the product or service for personal use, satisfaction or benefit. The other options are either too broad or too specific to an individual or company's role in relation to the product or service.

Question 13

________ is all about delivering value to everyone who is affected by a transaction.
A)Value chain
B)Demand
C)Competitive advantage
D)Marketing
E)Popular culture

Accepted Answer

Marketing is all about delivering value to everyone who is affected by a transaction. It involves identifying and understanding the needs and wants of customers, creating products or services that can satisfy those needs and wants, and communicating the value of those products or services to customers in a way that persuades them to buy.

Question 14

Only large consumer goods companies employ marketers.

Accepted Answer

This statement is false. Companies of all sizes and across all industries employ marketers to help raise brand awareness, attract customers, and drive sales.

Question 15

Marketers must work with ________ departments to ensure products are produced on time and in the right quantities.
A)research and development
B)sales
C)customer service
D)finance and accounting
E)manufacturing

Accepted Answer

Marketers must work closely with the manufacturing department to ensure that products are produced on time and in the desired quantities to meet customer demand. This helps to ensure that products are available when customers want to buy them, which is key to a company's success.

Question 16

Marketers may find careers in which of the following?
A)Universities or colleges
B)Non-profit organisations
C)Governments
D)Consumer goods companies
E)All of the above

Accepted Answer

Marketers can find careers in a wide range of organizations, including universities or colleges, non-profit organizations, governments, and consumer goods companies. Therefore, the best answer is E, which encompasses all of the above options.

Question 17

A consumer has a ________ when there is a difference between their actual state and their ideal or desired state.
A)need
B)want
C)demand
D)value
E)benefit

Accepted Answer

A need is a state of deprivation, where an individual's actual state falls short of their desired state. It propels consumers to take action and seek a solution to the discrepancy. Therefore, when there is a difference between an individual's actual state and his or her ideal or desired state, it results in a need.

Question 18

Marketers tend to spend all of their time interacting with customers with almost no interaction with other departments in the organisation.

Accepted Answer

Marketers should frequently interact with other departments in the organisation, such as product development, sales, and customer service to understand their needs and provide better solutions to customers. Collaboration and communication between different departments can also lead to improved efficiency and better overall results for the organisation.

Question 19

Employees at a local amusement park are told to treat everyone who purchases a ticket to get into the park as a guest.
A)target marketers
B)producers
C)distributors
D)service providers
E)consumers

Accepted Answer

The people who purchase tickets to enter the amusement park are considered consumers, as they are the end users of the service provided by the amusement park.

Question 20

Marketers must work with ________ departments to create products that meet customers' needs.
A)sales
B)production
C)customer service
D)finance and accounting
E)research and development

Accepted Answer

Research and development departments are responsible for creating new products and improving existing ones. They work with marketers to understand customer needs and develop products that meet those needs.

Quiz 1: Welcome to the World of Marketing: Creating and Delivering Value

________ is the only part of the business that generates revenue.

Marketers must work with ________ departments to determine if products are profitable,set marketing budgets and determine price.

Which of the following would be considered as an organisation's stakeholders?

Marketers may have backgrounds in which of the following?

Marketing is the activity,set of and processes for creating,,delivering and exchanging offerings that have for customers,clients,partners and society at large.

Marketers come from a variety of backgrounds,including computer science and the law.

Marketers first identify consumer needs and then provide products that satisfy those needs,ensuring the firm's long-term profitability.

________ is all about creating and delivering value to both customers and organisations.

Which of the following statements about marketing's role in the company is not true?

One of the more important parts of marketing is to ________.

Which of the following is an example of a consumer?

The ultimate user of a good,idea or service is called a ________.

________ is all about delivering value to everyone who is affected by a transaction.

Only large consumer goods companies employ marketers.

Marketers must work with ________ departments to ensure products are produced on time and in the right quantities.

Marketers may find careers in which of the following?

A consumer has a ________ when there is a difference between their actual state and their ideal or desired state.

Marketers tend to spend all of their time interacting with customers with almost no interaction with other departments in the organisation.

Employees at a local amusement park are told to treat everyone who purchases a ticket to get into the park as a guest.

Marketers must work with ________ departments to create products that meet customers' needs.