Question 1

Marketers might wish to sell their products to everyone,but it is not practical to do so.

Accepted Answer

A) True 
 B)False

Question 2

Understanding a customer's needs and wants is fundamental to marketing success.

Accepted Answer

A) True 
 B)False

Question 3

What is the fundamental purpose of marketing?

Accepted Answer

To create value by developing

Question 4

Which type of orientation would you expect among ethically challenged marketers: a relational or transactional orientation?

Accepted Answer

A transactional orientation,be

Question 5

Trey sells consumer electronics.He knows his customers weigh the costs versus the benefits associated with the different options available.He decides which products to offer and what prices to charge based on the way his customers think.Trey operates in the __________ era.

Accepted Answer

A)  production-oriented 
B)  sales-oriented 
C)  market-oriented 
D)  value-based marketing 
E)  retailing-oriented 
A)  production-oriented 
B)  sales-oriented 
C)  market-oriented 
D)  value-based marketing 
E)  retailing-oriented

Question 6

Greenbelt Construction has been a successful small home-building firm for years.The owner pays subcontractors slightly more than the usual rate for different tasks,reducing the company's gross margin.Greenbelt rarely changes subcontractors,has relatively few complaints from home buyers,and is able to get quick responses from subcontractors when buyers do have problems.Greenbelt is engaged in

Accepted Answer

A)  a traditional transactional orientation. 
B)  C2C value-driven marketing. 
C)  effective supply chain management. 
D)  value cocreation. 
E)  a virtual monopoly. 
A)  a traditional transactional orientation. 
B)  C2C value-driven marketing. 
C)  effective supply chain management. 
D)  value cocreation. 
E)  a virtual monopoly.

Question 7

When considering career choices in marketing,many students overlook supply chain management because

Accepted Answer

A)  it is considered too quantitative. 
B)  marketing has no responsibility for supply chain management. 
C)  companies generally outsource these activities,and so there are rarely supply chain jobs available. 
D)  it only takes place in large,urban areas. 
E)  many of the activities take place behind the scenes. 
A)  it is considered too quantitative. 
B)  marketing has no responsibility for supply chain management. 
C)  companies generally outsource these activities,and so there are rarely supply chain jobs available. 
D)  it only takes place in large,urban areas. 
E)  many of the activities take place behind the scenes.

Question 8

The power adapters Dell sells with its computers are built by small companies who specialize in power-related accessories.Dell and the power adapter manufacturers are engaging in B2B marketing.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A)  marketing has no responsibility for supply chain management. 
B)  supply chain management doesn't add much value for customers. 
C)  companies do not want customers to know anything about the supply chain. 
D)  many of the activities take place behind the scenes. 
E)  supply chain management is already transparent. 
A)  marketing has no responsibility for supply chain management. 
B)  supply chain management doesn't add much value for customers. 
C)  companies do not want customers to know anything about the supply chain. 
D)  many of the activities take place behind the scenes. 
E)  supply chain management is already transparent.

Question 10

Value-driven firms constantly measure the __________ that customers perceive,compared to the prices of their offerings.

Accepted Answer

A)  information 
B)  benefits 
C)  relationships 
D)  rebates 
E)  merchandise 
A)  information 
B)  benefits 
C)  relationships 
D)  rebates 
E)  merchandise

Question 11

To become a more value-driven organization,Pokrah University is holding regular coffee-hour discussions with its students and is surveying its graduates regarding students' educational needs and desires.Pokrah University is becoming more value driven through

Accepted Answer

A)  sharing information across the organization. 
B)  balancing its customers' benefits and costs. 
C)  evaluating strategic competitive partnerships. 
D)  building relationships with customers. 
E)  keeping the faculty members happy. 
A)  sharing information across the organization. 
B)  balancing its customers' benefits and costs. 
C)  evaluating strategic competitive partnerships. 
D)  building relationships with customers. 
E)  keeping the faculty members happy.

Question 12

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts.Retailers function as

Accepted Answer

A)  market intermediaries. 
B)  monopolists. 
C)  regulators of consumer demand. 
D)  wholesale specialists. 
E)  intermediate promoters. 
A)  market intermediaries. 
B)  monopolists. 
C)  regulators of consumer demand. 
D)  wholesale specialists. 
E)  intermediate promoters.

Question 13

In delivering value,marketing firms attempt to find the most desirable balance between

Accepted Answer

A)  the need for value and the perception of value. 
B)  explicit versus implicit value. 
C)  providing benefits to customers and keeping costs down. 
D)  the desire to satisfy customers and the need to keep customers from running the company. 
E)  the need for product improvement and the need for advertising. 
A)  the need for value and the perception of value. 
B)  explicit versus implicit value. 
C)  providing benefits to customers and keeping costs down. 
D)  the desire to satisfy customers and the need to keep customers from running the company. 
E)  the need for product improvement and the need for advertising.

Question 14

Marketing provides the critical function of __________ when companies expand globally.

Accepted Answer

A)  managing production efficiency 
B)  understanding customers 
C)  managing personnel 
D)  forecasting economic growth 
E)  evaluating government stability 
A)  managing production efficiency 
B)  understanding customers 
C)  managing personnel 
D)  forecasting economic growth 
E)  evaluating government stability

Question 15

When referring to "exchange," marketers are focusing on

Accepted Answer

A)  the location where products and services are traded. 
B)  the price charged,adjusted for currency exchange rates. 
C)  location-based tactics for creating value. 
D)  promotional offers designed to stimulate barter. 
E)  the trading of things of value. 
A)  the location where products and services are traded. 
B)  the price charged,adjusted for currency exchange rates. 
C)  location-based tactics for creating value. 
D)  promotional offers designed to stimulate barter. 
E)  the trading of things of value.

Question 16

Marketing was once an afterthought to

Accepted Answer

A)  accounting. 
B)  economics. 
C)  production. 
D)  finance. 
E)  none of these-marketing was never an afterthought. 
A)  accounting. 
B)  economics. 
C)  production. 
D)  finance. 
E)  none of these-marketing was never an afterthought.

Question 17

Even though they operate from out-of-the-way airports and offer few extra services,discount airlines like Ryanair and EasyJet have been successful.Consumers obviously consider

Accepted Answer

A)  the schedules these airlines offer to be the most convenient in the industry. 
B)  the long-term relationships established by these airlines to be a critical benefit. 
C)  the prices to be slightly lower,but not low enough to have much influence. 
D)  the benefit of lower prices to be greater than the cost of reduced services and less convenience. 
E)  the major airlines to be worthless. 
A)  the schedules these airlines offer to be the most convenient in the industry. 
B)  the long-term relationships established by these airlines to be a critical benefit. 
C)  the prices to be slightly lower,but not low enough to have much influence. 
D)  the benefit of lower prices to be greater than the cost of reduced services and less convenience. 
E)  the major airlines to be worthless.

Question 18

How could you use marketing ideas to market yourself to potential employers after you graduate?

Accepted Answer

If an individual seeking a job sees the

Question 19

During the market-oriented era

Accepted Answer

A)  a good product would sell itself. 
B)  the customer was king. 
C)  marketing was more important than production. 
D)  advertising and personal selling were emphasized to make the sale. 
E)  firms focused on value. 
A)  a good product would sell itself. 
B)  the customer was king. 
C)  marketing was more important than production. 
D)  advertising and personal selling were emphasized to make the sale. 
E)  firms focused on value.

Question 20

Leah is the marketing manager for an electronics company.While on vacation in Ecuador,she visited electronics stores in the major malls in Quito,the capital city.Most of her company's products were available,except for smart phones.When she returned to work,she mentioned this observation to her international sales manager.Leah was providing the important marketing function of

Accepted Answer

A)  advising production on how much product to make. 
B)  alerting the logistics department when to ship products. 
C)  engaging customers,developing long-term relationships. 
D)  identifying opportunities to expand. 
E)  synthesizing and interpreting sales,accounting,and customer-profile data. 
A)  advising production on how much product to make. 
B)  alerting the logistics department when to ship products. 
C)  engaging customers,developing long-term relationships. 
D)  identifying opportunities to expand. 
E)  synthesizing and interpreting sales,accounting,and customer-profile data.

Marketers might wish to sell their products to everyone,but it is not practical to do so.

Understanding a customer's needs and wants is fundamental to marketing success.

What is the fundamental purpose of marketing?

Which type of orientation would you expect among ethically challenged marketers: a relational or transactional orientation?

Trey sells consumer electronics.He knows his customers weigh the costs versus the benefits associated with the different options available.He decides which products to offer and what prices to charge based on the way his customers think.Trey operates in the __________ era.

When considering career choices in marketing,many students overlook supply chain management because

The power adapters Dell sells with its computers are built by small companies who specialize in power-related accessories.Dell and the power adapter manufacturers are engaging in B2B marketing.

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

Value-driven firms constantly measure the __________ that customers perceive,compared to the prices of their offerings.

To become a more value-driven organization,Pokrah University is holding regular coffee-hour discussions with its students and is surveying its graduates regarding students' educational needs and desires.Pokrah University is becoming more value driven through

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts.Retailers function as

In delivering value,marketing firms attempt to find the most desirable balance between

Marketing provides the critical function of __________ when companies expand globally.

When referring to "exchange," marketers are focusing on

Marketing was once an afterthought to

Even though they operate from out-of-the-way airports and offer few extra services,discount airlines like Ryanair and EasyJet have been successful.Consumers obviously consider

How could you use marketing ideas to market yourself to potential employers after you graduate?

During the market-oriented era

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

Marketing Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation,Targeting,and Positioning

Marketing Research

Product,Branding,and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 1: Overview of Marketing

Marketers might wish to sell their products to everyone,but it is not practical to do so.

Understanding a customer's needs and wants is fundamental to marketing success.

What is the fundamental purpose of marketing?

Which type of orientation would you expect among ethically challenged marketers: a relational or transactional orientation?

Trey sells consumer electronics.He knows his customers weigh the costs versus the benefits associated with the different options available.He decides which products to offer and what prices to charge based on the way his customers think.Trey operates in the __________ era.

When considering career choices in marketing,many students overlook supply chain management because

The power adapters Dell sells with its computers are built by small companies who specialize in power-related accessories.Dell and the power adapter manufacturers are engaging in B2B marketing.

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

Value-driven firms constantly measure the __________ that customers perceive,compared to the prices of their offerings.

To become a more value-driven organization,Pokrah University is holding regular coffee-hour discussions with its students and is surveying its graduates regarding students' educational needs and desires.Pokrah University is becoming more value driven through

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts.Retailers function as

In delivering value,marketing firms attempt to find the most desirable balance between

Marketing provides the critical function of __________ when companies expand globally.

When referring to "exchange," marketers are focusing on

Marketing was once an afterthought to

Even though they operate from out-of-the-way airports and offer few extra services,discount airlines like Ryanair and EasyJet have been successful.Consumers obviously consider

How could you use marketing ideas to market yourself to potential employers after you graduate?

During the market-oriented era

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

Marketing Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation,Targeting,and Positioning

Marketing Research

Product,Branding,and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters