Question 1

The limitation of a strategic alliance is that it eliminates competitive advantage.

Accepted Answer

A) True 
 B)False

Question 2

ACB Ltd.provides credit to dealers,as well as buyers of Alfresco Automobiles.The marketing function performed in this case is:

Accepted Answer

A)  financing. 
B)  exchange. 
C)  distribution. 
D)  risk taking. 
A)  financing. 
B)  exchange. 
C)  distribution. 
D)  risk taking.

Question 3

Explain the concept of marketing.What are some common misconceptions about marketing?

Accepted Answer

Marketing is an organizational function

Question 4

Define relationship marketing and explain its characteristics.

Accepted Answer

Relationship marketing is the developmen

Question 5

While many firms claim to have adopted the marketing concept,there is little evidence that a strong market orientation contributes to market success and overall performance.

Accepted Answer

A) True 
 B)False

Question 6

What is the major difference between the sales era and marketing era?

Accepted Answer

The sales era was characterized by the b

Question 7

The facilitating functions of marketing include:

Accepted Answer

A)  securing marketing information and financing. 
B)  buying and selling. 
C)  securing market information and storage. 
D)  risk taking and transporting. 
A)  securing marketing information and financing. 
B)  buying and selling. 
C)  securing market information and storage. 
D)  risk taking and transporting.

Question 8

The financial bottom line refers to the limitations laid on the budgets of a firm.

Accepted Answer

A) True 
 B)False

Question 9

List the activities that marketers must perform in order to create the customers organizations want.

Accepted Answer

Marketing specialists are responsible fo

Question 10

An alliance between a not-for-profit organization and a for-profit organization:

Accepted Answer

A)  rarely benefits either party. 
B)  often benefits both parties. 
C)  typically benefits the not-for-profit more than the for-profit. 
D)  typically benefits the for-profit more than the not-for-profit. 
A)  rarely benefits either party. 
B)  often benefits both parties. 
C)  typically benefits the not-for-profit more than the for-profit. 
D)  typically benefits the for-profit more than the not-for-profit.

Question 11

On account of their unselfish goals of serving society,not-for-profit organizations are not required to have marketing objectives.

Accepted Answer

A) True 
 B)False

Question 12

Corporations that voluntarily recycle paper,glass and electronics practice _____.

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 13

Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the quality of products.

Accepted Answer

A) True 
 B)False

Question 14

Product development partnerships and vertical alliances are two examples of strategic alliances.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following factors contributed to the transition from the production era to the sales era?

Accepted Answer

A)  Increased consumer demand 
B)  Sophisticated production techniques 
C)  Increase in urbanization 
D)  The Great Depression 
A)  Increased consumer demand 
B)  Sophisticated production techniques 
C)  Increase in urbanization 
D)  The Great Depression

Question 16

Relationship marketing moves customers up a loyalty ladder-from new customers to regular purchasers,then to loyal supporters of the firm and its goods and services,and finally to advocates who not only buy its products but recommend them to others.

Accepted Answer

A) True 
 B)False

Question 17

An exchange process is an activity in which two or more parties give something of value to each other to satisfy perceived needs.

Accepted Answer

A) True 
 B)False

Question 18

Interactive marketing allows marketers and consumers to customize their communication.

Accepted Answer

A) True 
 B)False

Question 19

In the past,firms have viewed their suppliers as adversaries against whom they must fiercely negotiate prices,playing one off against the other.

Accepted Answer

A) True 
 B)False

Question 20

Form utility refers to conversion of raw materials and components into finished goods and services.

Accepted Answer

A) True 
 B)False

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

The limitation of a strategic alliance is that it eliminates competitive advantage.

ACB Ltd.provides credit to dealers,as well as buyers of Alfresco Automobiles.The marketing function performed in this case is:

Explain the concept of marketing.What are some common misconceptions about marketing?

Define relationship marketing and explain its characteristics.

While many firms claim to have adopted the marketing concept,there is little evidence that a strong market orientation contributes to market success and overall performance.

What is the major difference between the sales era and marketing era?

The facilitating functions of marketing include:

The financial bottom line refers to the limitations laid on the budgets of a firm.

List the activities that marketers must perform in order to create the customers organizations want.

An alliance between a not-for-profit organization and a for-profit organization:

On account of their unselfish goals of serving society,not-for-profit organizations are not required to have marketing objectives.

Corporations that voluntarily recycle paper,glass and electronics practice _____.

Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the quality of products.

Product development partnerships and vertical alliances are two examples of strategic alliances.

Which of the following factors contributed to the transition from the production era to the sales era?

Relationship marketing moves customers up a loyalty ladder-from new customers to regular purchasers,then to loyal supporters of the firm and its goods and services,and finally to advocates who not only buy its products but recommend them to others.

An exchange process is an activity in which two or more parties give something of value to each other to satisfy perceived needs.

Interactive marketing allows marketers and consumers to customize their communication.

In the past,firms have viewed their suppliers as adversaries against whom they must fiercely negotiate prices,playing one off against the other.

Form utility refers to conversion of raw materials and components into finished goods and services.

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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