front 1 Which of the following statements about marketing is true?
| back 1 B |
front 2 ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
| back 2 A |
front 3 Identify the correct statement about marketing management.
| back 3 E |
front 4 A social definition of marketing says ________.
| back 4 C |
front 5 ________ goods constitute the bulk of most countries' production and marketing efforts.
| back 5 C |
front 6 As economies advance, a growing proportion of their activities focuses on the production of ________.
| back 6 E |
front 7 Car rental firms, hair dressers, and management consultants provide ________.
| back 7 D |
front 8 The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________.
| back 8 D |
front 9 The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.
| back 9 D |
front 10 In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________.
| back 10 A |
front 11 Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation?
| back 11 E |
front 12 Sales of woollen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.
| back 12 A |
front 13 Julia is worried about the rising pollution levels in her city. She doesn't mind paying extra for goods and services that use sustainable processes to help control pollution. This is an example of ________ for pollution.
| back 13 D |
front 14 People in emerging countries today are becoming increasingly health conscious and are seeking healthy food choices. As a result, demand for health foods is rising steadily, creating an opportunity for marketers to exploit this ________ market.
| back 14 C |
front 15 When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
| back 15 B |
front 16 When demand is ________, it implies that more customers would like to buy the product than can be satisfied.
| back 16 C |
front 17 In the case of ________, consumers dislike the product and may even pay a price to avoid it.
| back 17 D |
front 18 Organizations catering to the ________ need to price their offerings carefully because these markets usually have limited purchasing power.
| back 18 C |
front 19 Which of the following is true of business markets?
| back 19 E |
front 20 A ________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
| back 20 A |
front 21 Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.
| back 21 D |
front 22 Automobile manufacturers, new car and used car dealers, financing companies, and insurance companies are all part of the automobile ________.
| back 22 E |
front 23 ________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.
| back 23 C |
front 24 When Frank buys his own house, he would like to have a home theater system and a jacuzzi. He plans to save enough money in the next three years so that he can fulfill his wish. Frank's desire for the home theater and the jacuzzi is an example of a(n) ________.
| back 24 B |
front 25 When companies measure the number of people who are willing and able to buy their products, they are measuring ________.
| back 25 A |
front 26 A(n) ________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.
| back 26 D |
front 27 A(n) ________ need is a need that the consumer explicitly verbalizes.
| back 27 A |
front 28 The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
| back 28 A |
front 29 Companies address needs by putting forth a ________, a set of benefits that they offer to customers to satisfy their needs.
| back 29 B |
front 30 During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________.
| back 30 A |
front 31 ________ reflects a customer's judgment of a product's performance in relation to his or her expectations.
| back 31 B |
front 32 The value of an offering is described as ________.
| back 32 D |
front 33 When Volvo runs ads suggesting that its cars are the safest that money can buy, it is trying to ________.
| back 33 E |
front 34 If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a ________.
| back 34 A |
front 35 The ________ is the channel stretching from raw materials to components to final products that are carried to final buyers.
| back 35 C |
front 36 The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.
| back 36 D |
front 37 The ________ includes the actors involved in producing, distributing, and promoting an offering. The main actors are the company, suppliers, distributors, dealers, and the target customers.
| back 37 D |
front 38 In an attempt to create greater competition and growth opportunities, countries often ________.
| back 38 C |
front 39 Rising promotion costs and shrinking profit margins are the result of ________.
| back 39 E |
front 40 Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries. This is called ________.
| back 40 C |
front 41 The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
| back 41 A |
front 42 In response to threats from such companies as AOL, Amazon.com, Yahoo!, eBay, E*TRADE, and dozens of others, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This process is known as ________.
| back 42 A |
front 43 When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of ________.
| back 43 D |
front 44 Disintermediation via the Internet has resulted in ________.
| back 44 E |
front 45 Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.
| back 45 D |
front 46 The ________ process consists of analyzing marketing opportunities, selecting target markets, designing marketing strategies, developing marketing programs, and managing the marketing effort.
| back 46 A |
front 47 Kotler and Casoline suggested eight factors that marketers must keep in mind in order to deal with risk and uncertainty. Which of the following statements are they most likely to agree with when the environment is uncertain?
| back 47 B |
front 48 What are customer touch points?
| back 48 C |
front 49 Which of the following holds that consumers prefer products that are widely available and inexpensive?
| back 49 B |
front 50 Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
| back 50 C |
front 51 The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.
| back 51 A |
front 52 Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
| back 52 B |
front 53 As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The company believes that its competitive edge lies in its ability to offer the best prices. They also maintain an excellent distribution network that ensures wide availability of their products. SteelMakers has a ________.
| back 53 B |
front 54 Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
| back 54 B |
front 55 Rick Johnson trains his company's sales force to go after the consumer. He repeatedly asks his team to bear in mind the essential fact that it is the sales team's responsibility to rouse the consumer's interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Johnson believes in the ________ concept.
| back 55 C |
front 56 Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc., follows the ________ concept in doing business.
| back 56 D |
front 57 The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
| back 57 B |
front 58 Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.
| back 58 D |
front 59 The marketing concept holds that ________.
| back 59 A |
front 60 ________ is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
| back 60 B |
front 61 Which of the following is considered as a "sin" in the marketing discipline?
| back 61 D |
front 62 What are the four broad components of holistic marketing?
| back 62 C |
front 63 ________ marketing aims to build mutually satisfying long-term collaboration with key constituents, such as customers, employees, suppliers, distributors, and other marketing partners, in order to earn and retain their business.
| back 63 D |
front 64 Tracy's is a chain of hair dressing salons for women. They use the television, magazines, radio, and newspapers to advertise their services. The owners ensure that all communication channels deliver a common message to prospective customers. Tracy's believes in ________.
| back 64 B |
front 65 The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.
| back 65 C |
front 66 Which of the following is most consistent with the integrated marketing approach?
| back 66 C |
front 67 Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles, especially senior management?
| back 67 C |
front 68 Financial accountability and social responsibility marketing are elements of ________.
| back 68 A |
front 69 Companies are recognizing that much of their market value comes from ________, particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.
| back 69 C |
front 70 Holistic marketing incorporates ________, an understanding of broader concerns in the ethical, environmental, legal, and social context of marketing activities.
| back 70 C |
front 71 The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
| back 71 C |
front 72 Joanna owns a chain of fast-food joints. As the chain became more and more successful, she decided to contribute a share of her profits each year to support cancer research. This is an example of ________.
| back 72 C |
front 73 McCarthy classified marketing activities into the four Ps of the marketing mix. These four Ps stand for ________.
| back 73 E |
front 74 Incorporating the holistic view of marketing, the four Ps of the marketing mix can be updated to ________.
| back 74 D |
front 75 Which of the following reflects the "people" component of the marketing mix?
| back 75 E |
front 76 Which of the four new Ps encompasses the old four Ps as well as a range of other marketing activities that might not fit well into the old view of marketing?
| back 76 A |
front 77 At the heart of any marketing program is the firm's ________, its tangible offering to the market.
| back 77 B |
front 78 ________ activities include those the company undertakes to make the product accessible and available to target customers.
| back 78 D |
front 79 A marketer's only concern is how best to create demand for a new product produced by his company. Improving product design is not his responsibility.
| back 79 false |
front 80 A short definition of marketing is "meeting needs profitably."
| back 80 true |
front 81 Services constitute the bulk of most countries' production and marketing efforts.
| back 81 false |
front 82 The U.S. economy today consists of a 70-30 services-to-goods mix.
| back 82 true |
front 83 Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.
| back 83 true |
front 84 Properties are tangible rights of ownership to either real property (real estate) or financial property (stocks and bonds).
| back 84 false |
front 85 "Friends Don't Let Friends Drive Drunk," is an example of marketing information to an interested audience.
| back 85 false |
front 86 Unwholesome demand occurs when consumers' purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.
| back 86 false |
front 87 When consumers share a strong need that cannot be satisfied by an existing product, they are exhibiting latent demand.
| back 87 true |
front 88 Advertising is the most important element in business marketing.
| back 88 false |
front 89 Companies selling their goods to nonprofit organizations often charge a premium over their normal prices because these organizations are largely indifferent to price.
| back 89 false |
front 90 Shops and stores have a physical existence and as such are examples of marketspace.
| back 90 false |
front 91 Wants are basic human requirements, such as food and shelter.
| back 91 false |
front 92 Demands are wants for specific products backed by an ability to pay.
| back 92 true |
front 93 Contrary to popular belief, marketers do not create needs.
| back 93 true |
front 94 The customer value triad consists of a combination of quality, durability, and price.
| back 94 false |
front 95 A distribution channel includes distributors, wholesalers, retailers, and agents that display, sell, or deliver the physical product or service(s) to the buyer or user.
| back 95 true |
front 96 The task environment of a firm consists of demographic, economic, natural, and technological environments, as well as the political-legal system and the social-cultural arena.
| back 96 false |
front 97 Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.
| back 97 false |
front 98 Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries.
| back 98 true |
front 99 The overabundance of information available on the Internet has made it more difficult for consumers to compare product features and prices.
| back 99 false |
front 100 Companies can facilitate and speed external communication among customers by creating online and off-line "buzz" through brand advocates and user communities.
| back 100 true |
front 101 The proliferation of targeted media and communication channels has allowed marketers to become much more aware of their target consumers' preferences and to customize both products and messages for individual consumers.
| back 101 true |
front 102 The production concept is one of the newest concepts in business.
| back 102 false |
front 103 The selling concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.
| back 103 false |
front 104 The selling concept holds that consumers will prefer products that are ethical, environmentally responsible, legal, and social in the context of marketing activities and programs.
| back 104 false |
front 105 The marketing concept stresses on finding the right customers for the company's products.
| back 105 false |
front 106 The selling concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
| back 106 false |
front 107 Relationship marketing aims to build mutually satisfying long-term relationships with key parties.
| back 107 true |
front 108 Attracting a new customer costs far more than retaining an existing one.
| back 108 true |
front 109 One of the key themes of integrated marketing is that there are very few marketing activities that can effectively communicate and deliver value.
| back 109 false |
front 110 Proponents of holistic marketing consider internal marketing to be as important as marketing to consumers.
| back 110 true |
front 111 Integrated marketing is the task of hiring, training, and motivating able employees who want to serve customers well.
| back 111 false |
front 112 Performance marketing requires understanding the financial and non-financial returns to business and society from marketing activities and programs.
| back 112 true |
front 113 Performance marketing involves reviewing metrics assessing market share, customer loss rate, customer satisfaction, and product quality in the evaluation of the effectiveness of marketing activities.
| back 113 true |
front 114 The social responsibility marketing concept holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
| back 114 true |
front 115 Adapting and conducting business practices that protect the environment and human and animal rights is specifically a part of corporate social marketing.
| back 115 false |
front 116 Cause-related marketing involves donating a percentage of revenues to a specific cause based on the revenue occurring during the announced period of support.
| back 116 true |
front 117 Making gifts of money, goods, or time to help nonprofit organizations, groups, or individuals is known as corporate philanthropy.
| back 117 true |
front 118 The marketing-mix component called "people" reflects all the creativity, discipline, and structure brought to marketing management.
| back 118 false |
front 119 A firm's tangible offering to the market includes product quality, design, features, and packaging.
| back 119 true |