Question 1

Which of the following statements about marketing's impact on the economy is False?

Accepted Answer

A)  Companies force consumers to buy products at exorbitant prices. 
B)  When new products are introduced, the prices of old products often drop. 
C)  Rising profits lead to increased investments and further economic growth. 
D)  Increased profits attract competition. 
E)  Profits begin to drop as new competitors enter a market with similar products. 
A)  Companies force consumers to buy products at exorbitant prices. 
B)  When new products are introduced, the prices of old products often drop. 
C)  Rising profits lead to increased investments and further economic growth. 
D)  Increased profits attract competition. 
E)  Profits begin to drop as new competitors enter a market with similar products.

Question 2

A marketing manager should

Accepted Answer

A)  know that most consumer complaints do not require a response because the consumer's dissatisfaction is beyond the control of the firm. 
B)  recognize that many consumers who complain are trouble makers and that not much can or should be done about their complaints. 
C)  assume that most customers who are dissatisfied will complain, but that people who are satisfied will be silent. 
D)  be concerned that many of the complaints that are reported are never resolved. 
E)  recognize that a "complaint" box isn't needed if the firm is really market-oriented in the first place. 
A)  know that most consumer complaints do not require a response because the consumer's dissatisfaction is beyond the control of the firm. 
B)  recognize that many consumers who complain are trouble makers and that not much can or should be done about their complaints. 
C)  assume that most customers who are dissatisfied will complain, but that people who are satisfied will be silent. 
D)  be concerned that many of the complaints that are reported are never resolved. 
E)  recognize that a "complaint" box isn't needed if the firm is really market-oriented in the first place.

Question 3

Regarding the challenges facing marketers,the text suggests that:

Accepted Answer

A)  government planners should play a major role in deciding what product choices consumers should have. 
B)  continued growth of GDP is one favorable change in our macro-marketing system that a marketing manager can count on. 
C)  there is likely to be much less regulation of marketing in the future, especially in regard to consumer privacy. 
D)  marketers should look for ways to improve a strategy even before there's reason to believe that something needs to be fixed. 
E)  All of these alternatives are correct. 
A)  government planners should play a major role in deciding what product choices consumers should have. 
B)  continued growth of GDP is one favorable change in our macro-marketing system that a marketing manager can count on. 
C)  there is likely to be much less regulation of marketing in the future, especially in regard to consumer privacy. 
D)  marketers should look for ways to improve a strategy even before there's reason to believe that something needs to be fixed. 
E)  All of these alternatives are correct.

Question 4

Micro-marketing effectiveness can be measured by:

Accepted Answer

A)  the profits of business firms. 
B)  the opinions of intermediaries. 
C)  consumer complaints. 
D)  attitude research studies. 
E)  All of these are good measurements for Micro-marketing. 
A)  the profits of business firms. 
B)  the opinions of intermediaries. 
C)  consumer complaints. 
D)  attitude research studies. 
E)  All of these are good measurements for Micro-marketing.

Question 5

When companies in a market-directed economy try to find "little monopolies" for themselves,

Accepted Answer

A)  success is likely to attract more competitors-and squeezing of the innovators' profits. 
B)  they will fail. 
C)  this reduces innovation, new investment, and economic growth. 
D)  the allocation of resources will be the same as in a purely competitive economy. 
E)  this forces consumers to buy new-possibly more expensive-products that they do not want. 
A)  success is likely to attract more competitors-and squeezing of the innovators' profits. 
B)  they will fail. 
C)  this reduces innovation, new investment, and economic growth. 
D)  the allocation of resources will be the same as in a purely competitive economy. 
E)  this forces consumers to buy new-possibly more expensive-products that they do not want.

Question 6

In the U.S.market-directed system,it is up to each ________ to decide how effectively individual firms satisfy the consumer's needs.

Accepted Answer

A)  market research consultant 
B)  customer 
C)  manufacturer 
D)  advertising agency 
E)  salesperson 
A)  market research consultant 
B)  customer 
C)  manufacturer 
D)  advertising agency 
E)  salesperson

Question 7

Evaluating marketing effectiveness is impossible.

Accepted Answer

A) True 
 B)False

Question 8

The Xtreme Football League (XFL)was launched in 2001 by Vince McMahon,chairman of World Wrestling Entertainment (WWE).It was designed to provide professional football to American sports fans in the months after the conclusion of the National Football League (NFL)season.In spite of heavy promotion,lots of advertising,and a national network television contract,the XFL was a classic product failure,largely because the quality of play was not good enough to satisfy most football fans.The league evaporated after one season.This type of failure refutes the frequent claim of critics that advertising:

Accepted Answer

A)  makes people materialistic. 
B)  elevates the wrong values. 
C)  manipulates consumers to buy anything a company chooses to produce. 
D)  leads to higher prices. 
E)  All of these alternatives are correct. 
A)  makes people materialistic. 
B)  elevates the wrong values. 
C)  manipulates consumers to buy anything a company chooses to produce. 
D)  leads to higher prices. 
E)  All of these alternatives are correct.

Question 9

Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake?

Accepted Answer

A)  "When it comes to my marketing strategy, if it ain't broke, don't fix it." 
B)  "International competition is just a fad. We can ignore it." 
C)  "I leave marketing applications of technology to the information technology staff. There's no need for me to learn about them." 
D)  "I try to place myself in the position of the consumer and do unto others as I would have them do unto me." 
E)  "My job is to sell products. If they happen to damage the environment because a consumer doesn't dispose of them properly, that's not my problem." 
A)  "When it comes to my marketing strategy, if it ain't broke, don't fix it." 
B)  "International competition is just a fad. We can ignore it." 
C)  "I leave marketing applications of technology to the information technology staff. There's no need for me to learn about them." 
D)  "I try to place myself in the position of the consumer and do unto others as I would have them do unto me." 
E)  "My job is to sell products. If they happen to damage the environment because a consumer doesn't dispose of them properly, that's not my problem."

Question 10

The American Customer Satisfaction Index makes it possible to track changes in consumer satisfaction measures over time and even allows comparison among countries.

Accepted Answer

A) True 
 B)False

Question 11

Regarding the laws that place limits on marketing activity:

Accepted Answer

A)  managers who ignore consumer attitudes may cause new laws to be enacted or existing laws to be modified. 
B)  some existing laws may need to be modified or enforced more carefully instead of adding new laws. 
C)  strict enforcement of existing laws and heavy penalties could have far-reaching effects on the macro-marketing system. 
D)  laws set the minimum standards for ethical behavior as defined by a society. 
E)  all of these alternatives are correct. 
A)  managers who ignore consumer attitudes may cause new laws to be enacted or existing laws to be modified. 
B)  some existing laws may need to be modified or enforced more carefully instead of adding new laws. 
C)  strict enforcement of existing laws and heavy penalties could have far-reaching effects on the macro-marketing system. 
D)  laws set the minimum standards for ethical behavior as defined by a society. 
E)  all of these alternatives are correct.

Question 12

Many important changes are affecting marketing strategy planning.For example,database-directed promotion and point-of-purchase promotion are illustrative of changes in the area of:

Accepted Answer

A)  Channels and logistics 
B)  Personal selling 
C)  Demographic patterns 
D)  Sales promotion 
E)  Communication technologies 
A)  Channels and logistics 
B)  Personal selling 
C)  Demographic patterns 
D)  Sales promotion 
E)  Communication technologies

Question 13

Which section of a formal marketing plan for a new product is most directly related to deciding how you want the target market to think about your product compared to competitive products?

Accepted Answer

A)  Packaging 
B)  Customer analysis 
C)  Differentiation and positioning 
D)  Implementation and control 
E)  Place 
A)  Packaging 
B)  Customer analysis 
C)  Differentiation and positioning 
D)  Implementation and control 
E)  Place

Question 14

Which of the following does NOT support the idea that "micro-marketing often does cost too much"?

Accepted Answer

A)  Many firms focus exclusively on their own internal problems. 
B)  Distribution channels may be selected on the basis of personal preferences. 
C)  Product planners frequently develop "me-too" products. 
D)  Many managers adopt the easiest strategy rather than seeking new ways to satisfy customers. 
E)  Many firms try to maximize profits. 
A)  Many firms focus exclusively on their own internal problems. 
B)  Distribution channels may be selected on the basis of personal preferences. 
C)  Product planners frequently develop "me-too" products. 
D)  Many managers adopt the easiest strategy rather than seeking new ways to satisfy customers. 
E)  Many firms try to maximize profits.

Question 15

Which of the following is NOT a trend affecting marketing strategy planning in the area of Sales Promotion?

Accepted Answer

A)  database-directed promotion 
B)  more event sponsorships 
C)  fewer customer loyalty programs 
D)  more product placement 
E)  point-of-purchase promotion 
A)  database-directed promotion 
B)  more event sponsorships 
C)  fewer customer loyalty programs 
D)  more product placement 
E)  point-of-purchase promotion

Question 16

To meet the new competition,prices of the old products usually

Accepted Answer

A)  drop. 
B)  remain unchanged but interest in the product is renewed with vigorous advertising. 
C)  increase. 
D)  are supplemented with coupons. 
E)  increase while being offset with discounts and coupons. 
A)  drop. 
B)  remain unchanged but interest in the product is renewed with vigorous advertising. 
C)  increase. 
D)  are supplemented with coupons. 
E)  increase while being offset with discounts and coupons.

Question 17

________ can be used as a rough measure of a firm's efficiency in satisfying customers.

Accepted Answer

A)  Production 
B)  The marketing mix 
C)  Profits 
D)  Macro-marketing 
E)  Returns 
A)  Production 
B)  The marketing mix 
C)  Profits 
D)  Macro-marketing 
E)  Returns

Question 18

A national restaurant chain encourages its customers to use its website as a means of providing comments about their experiences at the chain's locations.This website is one way of measuring:

Accepted Answer

A)  macro-marketing effectiveness. 
B)  the effectiveness of competition. 
C)  employee empowerment. 
D)  micro-marketing effectiveness. 
E)  All of these alternatives are correct. 
A)  macro-marketing effectiveness. 
B)  the effectiveness of competition. 
C)  employee empowerment. 
D)  micro-marketing effectiveness. 
E)  All of these alternatives are correct.

Question 19

A firm usually has more different strategy possibilities than it can pursue,so it must use screening criteria to help eliminate those strategies not well-suited to the firm.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements about future trends in marketing is True?

Accepted Answer

A)  Marketers should welcome international competition. 
B)  Marketers need to recognize what technologies are acceptable and which are not. 
C)  Marketers need to be aware of their responsibilities and consumer's long-run satisfaction. 
D)  Marketers must be sensitive to consumers' rights and privacy. 
E)  All of these statements about future trends in marketing are True. 
A)  Marketers should welcome international competition. 
B)  Marketers need to recognize what technologies are acceptable and which are not. 
C)  Marketers need to be aware of their responsibilities and consumer's long-run satisfaction. 
D)  Marketers must be sensitive to consumers' rights and privacy. 
E)  All of these statements about future trends in marketing are True.

Which of the following statements about marketing's impact on the economy is False?

A marketing manager should

Regarding the challenges facing marketers,the text suggests that:

Micro-marketing effectiveness can be measured by:

When companies in a market-directed economy try to find "little monopolies" for themselves,

In the U.S.market-directed system,it is up to each ________ to decide how effectively individual firms satisfy the consumer's needs.

Evaluating marketing effectiveness is impossible.

Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake?

The American Customer Satisfaction Index makes it possible to track changes in consumer satisfaction measures over time and even allows comparison among countries.

Regarding the laws that place limits on marketing activity:

Many important changes are affecting marketing strategy planning.For example,database-directed promotion and point-of-purchase promotion are illustrative of changes in the area of:

Which section of a formal marketing plan for a new product is most directly related to deciding how you want the target market to think about your product compared to competitive products?

Which of the following does NOT support the idea that "micro-marketing often does cost too much"?

Which of the following is NOT a trend affecting marketing strategy planning in the area of Sales Promotion?

To meet the new competition,prices of the old products usually

________ can be used as a rough measure of a firm's efficiency in satisfying customers.

A national restaurant chain encourages its customers to use its website as a means of providing comments about their experiences at the chain's locations.This website is one way of measuring:

A firm usually has more different strategy possibilities than it can pursue,so it must use screening criteria to help eliminate those strategies not well-suited to the firm.

Which of the following statements about future trends in marketing is True?

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Managing Marketings Link With Other Functional Areas

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Filters

Exam 21: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Which of the following statements about marketing's impact on the economy is False?

A marketing manager should

Regarding the challenges facing marketers,the text suggests that:

Micro-marketing effectiveness can be measured by:

When companies in a market-directed economy try to find "little monopolies" for themselves,

In the U.S.market-directed system,it is up to each ________ to decide how effectively individual firms satisfy the consumer's needs.

Evaluating marketing effectiveness is impossible.

Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake?

The American Customer Satisfaction Index makes it possible to track changes in consumer satisfaction measures over time and even allows comparison among countries.

Regarding the laws that place limits on marketing activity:

Many important changes are affecting marketing strategy planning.For example,database-directed promotion and point-of-purchase promotion are illustrative of changes in the area of:

Which section of a formal marketing plan for a new product is most directly related to deciding how you want the target market to think about your product compared to competitive products?

Which of the following does NOT support the idea that "micro-marketing often does cost too much"?

Which of the following is NOT a trend affecting marketing strategy planning in the area of Sales Promotion?

To meet the new competition,prices of the old products usually

________ can be used as a rough measure of a firm's efficiency in satisfying customers.

A national restaurant chain encourages its customers to use its website as a means of providing comments about their experiences at the chain's locations.This website is one way of measuring:

A firm usually has more different strategy possibilities than it can pursue,so it must use screening criteria to help eliminate those strategies not well-suited to the firm.

Which of the following statements about future trends in marketing is True?

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Managing Marketings Link With Other Functional Areas

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Filters