Question 1

Which of the following statements regarding the marketing era is true?

Accepted Answer

A)  Marketing and selling would no longer be considered synonymous terms. 
B)  Marketing was relegated to a supplemental role performed after the production process. 
C)  The marketing concept was linked to a shift from a buyer's market to a seller's market. 
D)  Business success often was defined solely in terms of production successes. 
A)  Marketing and selling would no longer be considered synonymous terms. 
B)  Marketing was relegated to a supplemental role performed after the production process. 
C)  The marketing concept was linked to a shift from a buyer's market to a seller's market. 
D)  Business success often was defined solely in terms of production successes.

Question 2

_____ is a customized marketing program designed to build long-term relationships with individual customers.

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 3

The application of relationship marketing requires attention to levels of customer loyalty.Which of the following is the highest level as defined by this type of marketing?

Accepted Answer

A)  Loyal supporter of the company and its goods and services. 
B)  Advocate who not only buys the products but recommends them to others. 
C)  Regular purchaser of the company's products. 
D)  Stockholder who literally buys into the organization and its mission. 
A)  Loyal supporter of the company and its goods and services. 
B)  Advocate who not only buys the products but recommends them to others. 
C)  Regular purchaser of the company's products. 
D)  Stockholder who literally buys into the organization and its mission.

Question 4

Buyer-seller communications in which the customer controls the amount and type of information received from a marketer is called _____.

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 5

What are the subfunctions of physical distribution?

Accepted Answer

A)  Buying, selling, and financing 
B)  Risk taking and market research 
C)  Storing and transporting 
D)  Standardizing and grading 
A)  Buying, selling, and financing 
B)  Risk taking and market research 
C)  Storing and transporting 
D)  Standardizing and grading

Question 6

The private sector has an even greater array of not-for-profit organizations than the public sector.

Accepted Answer

A) True 
 B)False

Question 7

_____ describes the current era in the history of marketing.

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 8

Mobile marketing is a term used to describe marketing messages sent via wireless technology.

Accepted Answer

A) True 
 B)False

Question 9

Celebrities use person marketing as a way to increase their value in the marketplace.

Accepted Answer

A) True 
 B)False

Question 10

ARC Inc.,a waste management company,expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol,demonstrating the socially responsible approach of the company.

Accepted Answer

A) True 
 B)False

Question 11

Fame-us is a talent hunt agency focusing on the youth looking to enter Hollywood.As part of their marketing strategy,Fame-us generate time and place utility by:

Accepted Answer

A)  creating a nationwide advertising campaign to attract applicants. 
B)  launching roadshows across cities and conduct talent hunts at campuses during Thanksgiving. 
C)  endorsing their services using famous celebrities from Hollywood. 
D)  opening a well-equipped studio with pre and post-production facilities. 
A)  creating a nationwide advertising campaign to attract applicants. 
B)  launching roadshows across cities and conduct talent hunts at campuses during Thanksgiving. 
C)  endorsing their services using famous celebrities from Hollywood. 
D)  opening a well-equipped studio with pre and post-production facilities.

Question 12

Define marketing myopia,and describe how a company can overcome a myopic view.Give an example of a successful avoidance of marketing myopia.

Accepted Answer

Marketing myopia is defined as managemen

Question 13

Social responsibility includes marketing philosophies,policies,procedures,and actions whose primary objective is to enhance society and protect the environment through sustainable products and practices.

Accepted Answer

A) True 
 B)False

Question 14

The emergence of the marketing concept can be linked to the shift from a seller's market to a buyer's market.

Accepted Answer

A) True 
 B)False

Question 15

A service user of a not-for-profit organization has more control over the organization's destiny than customers of a profit-seeking firm.

Accepted Answer

A) True 
 B)False

Question 16

Mobile marketing refers to:

Accepted Answer

A)  running promotional campaigns on transport media like trains and airplanes. 
B)  marketing messages transmitted via wireless technology. 
C)  promoting associated products or services alongside mobile technologies. 
D)  the use of online social media as a communications channel for marketing messages. 
A)  running promotional campaigns on transport media like trains and airplanes. 
B)  marketing messages transmitted via wireless technology. 
C)  promoting associated products or services alongside mobile technologies. 
D)  the use of online social media as a communications channel for marketing messages.

Question 17

In the practice of relationship marketing,the definition of a customer is taken to another level.Which of the following best illustrates how a company practicing relationship marketing is different from a traditional transaction-based marketer?

Accepted Answer

A)  The city pool allows kids 12 years and younger to swim for free on Fridays. 
B)  A local coffee shop distributes coupons for $.50 off each cup of coffee. 
C)  The purchasing department of a defense contractor invites its suppliers to attend an annual golf outing. 
D)  The heads of the financial departments meet with the Chief Financial Officer to discuss year-end financial reporting. 
A)  The city pool allows kids 12 years and younger to swim for free on Fridays. 
B)  A local coffee shop distributes coupons for $.50 off each cup of coffee. 
C)  The purchasing department of a defense contractor invites its suppliers to attend an annual golf outing. 
D)  The heads of the financial departments meet with the Chief Financial Officer to discuss year-end financial reporting.

Question 18

Products that can be produced,used,and disposed of with minimal impact on the environment are called:

Accepted Answer

A)  non-renewable products. 
B)  bio-gradable products. 
C)  sustainable products. 
D)  modulated effluents. 
A)  non-renewable products. 
B)  bio-gradable products. 
C)  sustainable products. 
D)  modulated effluents.

Question 19

Branches of the U.S.military sometimes show recruitment advertisements in cinemas featuring movies that are most likely to attract viewers of military age.This is an example of place marketing.

Accepted Answer

A) True 
 B)False

Question 20

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping.What type of utility are banks creating for customers?

Accepted Answer

A)  Form 
B)  Possession 
C)  Place 
D)  Ownership 
A)  Form 
B)  Possession 
C)  Place 
D)  Ownership

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

Which of the following statements regarding the marketing era is true?

_____ is a customized marketing program designed to build long-term relationships with individual customers.

The application of relationship marketing requires attention to levels of customer loyalty.Which of the following is the highest level as defined by this type of marketing?

Buyer-seller communications in which the customer controls the amount and type of information received from a marketer is called _____.

What are the subfunctions of physical distribution?

The private sector has an even greater array of not-for-profit organizations than the public sector.

_____ describes the current era in the history of marketing.

Mobile marketing is a term used to describe marketing messages sent via wireless technology.

Celebrities use person marketing as a way to increase their value in the marketplace.

ARC Inc.,a waste management company,expands its scope of business to recycle liquids that can be turned into fuel-grade ethanol,demonstrating the socially responsible approach of the company.

Fame-us is a talent hunt agency focusing on the youth looking to enter Hollywood.As part of their marketing strategy,Fame-us generate time and place utility by:

Define marketing myopia,and describe how a company can overcome a myopic view.Give an example of a successful avoidance of marketing myopia.

Social responsibility includes marketing philosophies,policies,procedures,and actions whose primary objective is to enhance society and protect the environment through sustainable products and practices.

The emergence of the marketing concept can be linked to the shift from a seller's market to a buyer's market.

A service user of a not-for-profit organization has more control over the organization's destiny than customers of a profit-seeking firm.

Mobile marketing refers to:

In the practice of relationship marketing,the definition of a customer is taken to another level.Which of the following best illustrates how a company practicing relationship marketing is different from a traditional transaction-based marketer?

Products that can be produced,used,and disposed of with minimal impact on the environment are called:

Branches of the U.S.military sometimes show recruitment advertisements in cinemas featuring movies that are most likely to attract viewers of military age.This is an example of place marketing.

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping.What type of utility are banks creating for 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

Filters