Question 1

Which of the following is an example of person marketing?

Accepted Answer

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. 
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. C

Question 2

Which of the following is true regarding the marketing concept?

Accepted Answer

A)  During tough economic times, the marketing concept focuses on the objective of achieving short-term profits instead of long-run success. 
B)  The marketing concept believes that consumers will resist purchasing nonessential goods and services. 
C)  The marketing concept emphasizes cutting costs and boosting revenues during tough economic times. 
D)  A firm's survival and growth are built into the marketing concept. 
A)  During tough economic times, the marketing concept focuses on the objective of achieving short-term profits instead of long-run success. 
B)  The marketing concept believes that consumers will resist purchasing nonessential goods and services. 
C)  The marketing concept emphasizes cutting costs and boosting revenues during tough economic times. 
D)  A firm's survival and growth are built into the marketing concept. D

Question 3

The _____ equals the revenues and benefits a customer brings to an organization,minus expenses to attract and maintain the relationship.

Accepted Answer

A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing 
A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing N

Question 4

The relationship era builds on the marketing era's customer orientation by only focusing on maintaining relationships with customers.

Accepted Answer

A) True 
 B)False

Question 5

Information technologies give organizations fast new ways to interact and develop long-term relationships with their customers and suppliers.

Accepted Answer

A) True 
 B)False

Question 6

The most obvious distinction between not-for-profit organizations and for-profit firms is the focus on generating revenues above and beyond the costs.

Accepted Answer

A) True 
 B)False

Question 7

The functions of marketing can be grouped into three major categories: exchange functions,physical distribution functions,and financing functions.

Accepted Answer

A) True 
 B)False

Question 8

Define lifetime value of a customer.How has Apple Computer,with the development of the iPod product line and iTunes software,gained a competitive advantage over competitors such as Napster? Will Apple experience a higher or lower lifetime value of a customer and why?

Accepted Answer

The lifetime value of a customer is the

Question 9

The American Cancer Society in the private sector and The Department of Natural Resources in the public sector are examples of _____.

Accepted Answer

A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing 
A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing

Question 10

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

Accepted Answer

A)  marketing myopia 
B)  exchange process 
C)  marketing concept 
D)  seller's market 
A)  marketing myopia 
B)  exchange process 
C)  marketing concept 
D)  seller's market

Question 11

The ability to transfer title to goods or services from marketer to buyer is described as:

Accepted Answer

A)  ownership utility. 
B)  form utility. 
C)  time utility. 
D)  place utility. 
A)  ownership utility. 
B)  form utility. 
C)  time utility. 
D)  place utility.

Question 12

By converting indifferent customers into loyal ones through relationship marketing,companies can:

Accepted Answer

A)  increase the cost of maintaining existing customers. 
B)  start a process by which customers become bound contractually to the business. 
C)  avoid the necessity of improving customer service in the long run. 
D)  generate repeat sales. 
A)  increase the cost of maintaining existing customers. 
B)  start a process by which customers become bound contractually to the business. 
C)  avoid the necessity of improving customer service in the long run. 
D)  generate repeat sales.

Question 13

The establishment of the WTO,the passage of NAFTA,and the creation of the Euro are examples of protectionism on the part of nations concerned with increased globalization of the marketplace.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following functions of marketing involves advertising?

Accepted Answer

A)  Standardizing 
B)  Buying 
C)  Selling 
D)  Storing 
A)  Standardizing 
B)  Buying 
C)  Selling 
D)  Storing

Question 15

A company produces a high-quality product,with a maximum monthly output of 10,000 units.Production levels are constant and the company relies on its marketing department to find customers for its output.This approach is consistent with which era in marketing history?

Accepted Answer

A)  Production era 
B)  Relationship era 
C)  Marketing era 
D)  Sales era 
A)  Production era 
B)  Relationship era 
C)  Marketing era 
D)  Sales era

Question 16

Buzz marketing excludes visual aspects as it does not consist of a tangible expression of an issue or position.

Accepted Answer

A) True 
 B)False

Question 17

Interactive promotions put customers in control because they can gain immediate access to key product information when they want it.

Accepted Answer

A) True 
 B)False

Question 18

The emergence of the marketing concept can best be explained by:

Accepted Answer

A)  higher production levels. 
B)  greater sophistication in the production of goods. 
C)  the shift from a seller's market to a buyer's market. 
D)  a focus on product quality. 
A)  higher production levels. 
B)  greater sophistication in the production of goods. 
C)  the shift from a seller's market to a buyer's market. 
D)  a focus on product quality.

Question 19

Information technology has enhanced the effectiveness of relationship marketing by leveraging mass-marketing campaigns.

Accepted Answer

A) True 
 B)False

Question 20

Relationship marketing tries to rebuild damaged relationships and rejuvenate unprofitable customers.

Accepted Answer

A) True 
 B)False

Exam 1: Marketing: The Art and Science of Satisfying Customers

Which of the following is an example of person marketing?

Which of the following is true regarding the marketing concept?

The _____ equals the revenues and benefits a customer brings to an organization,minus expenses to attract and maintain the relationship.

The relationship era builds on the marketing era's customer orientation by only focusing on maintaining relationships with customers.

Information technologies give organizations fast new ways to interact and develop long-term relationships with their customers and suppliers.

The most obvious distinction between not-for-profit organizations and for-profit firms is the focus on generating revenues above and beyond the costs.

The functions of marketing can be grouped into three major categories: exchange functions,physical distribution functions,and financing functions.

Define lifetime value of a customer.How has Apple Computer,with the development of the iPod product line and iTunes software,gained a competitive advantage over competitors such as Napster? Will Apple experience a higher or lower lifetime value of a customer and why?

The American Cancer Society in the private sector and The Department of Natural Resources in the public sector are examples of _____.

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

The ability to transfer title to goods or services from marketer to buyer is described as:

By converting indifferent customers into loyal ones through relationship marketing,companies can:

The establishment of the WTO,the passage of NAFTA,and the creation of the Euro are examples of protectionism on the part of nations concerned with increased globalization of the marketplace.

Which of the following functions of marketing involves advertising?

A company produces a high-quality product,with a maximum monthly output of 10,000 units.Production levels are constant and the company relies on its marketing department to find customers for its output.This approach is consistent with which era in marketing history?

Buzz marketing excludes visual aspects as it does not consist of a tangible expression of an issue or position.

Interactive promotions put customers in control because they can gain immediate access to key product information when they want it.

The emergence of the marketing concept can best be explained by:

Information technology has enhanced the effectiveness of relationship marketing by leveraging mass-marketing campaigns.

Relationship marketing tries to rebuild damaged relationships and rejuvenate unprofitable customers.

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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