Question 1

The basic objective of the U.S. market-directed economic system is to:

Accepted Answer

A)  minimize inflation. 
B)  satisfy consumer needs as they-the consumers-see them. 
C)  provide each person with an equal share of the economic output. 
D)  achieve an annual growth rate of at least 10 percent. 
E)  make the most efficient use of the country's resources. 
A)  minimize inflation. 
B)  satisfy consumer needs as they-the consumers-see them. 
C)  provide each person with an equal share of the economic output. 
D)  achieve an annual growth rate of at least 10 percent. 
E)  make the most efficient use of the country's resources.

Question 2

Which of the following is NOT a trend that is affecting marketing strategy planning?

Accepted Answer

A)  fewer vertical marketing systems. 
B)  geographic shifts in population. 
C)  more attention to service technologies. 
D)  more Internet selling. 
E)  greater use of database-directed promotion. 
A)  fewer vertical marketing systems. 
B)  geographic shifts in population. 
C)  more attention to service technologies. 
D)  more Internet selling. 
E)  greater use of database-directed promotion.

Question 3

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 in 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 in a society. 
E)  All of these alternatives are correct.

Question 4

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

Accepted Answer

A)  Product planners frequently develop me-too products. 
B)  Many firms focus exclusively on their own internal problems. 
C)  Many firms try to maximize profits. 
D)  Managers routinely seize on whatever strategy seems easiest. 
E)  None of these, i.e. all of these do support the idea that MICRO-marketing often DOES cost too much. 
A)  Product planners frequently develop me-too products. 
B)  Many firms focus exclusively on their own internal problems. 
C)  Many firms try to maximize profits. 
D)  Managers routinely seize on whatever strategy seems easiest. 
E)  None of these, i.e. all of these do support the idea that MICRO-marketing often DOES cost too much.

Question 5

A product strategy decision includes all of the following except:

Accepted Answer

A)  Benefits. 
B)  Exposure. 
C)  Features. 
D)  Quality. 
E)  Warranty. 
A)  Benefits. 
B)  Exposure. 
C)  Features. 
D)  Quality. 
E)  Warranty.

Question 6

Regarding our MACRO-marketing system, the text suggests that:

Accepted Answer

A)  consumers' freedom of choice should be reduced-for the good of society. 
B)  some changes may be necessary-but consumer-citizens should vote on these changes. 
C)  marketing managers should limit consumers' freedom of choice. 
D)  marketing managers should produce only what they feel is good for consumers. 
E)  None of these alternatives is correct. 
A)  consumers' freedom of choice should be reduced-for the good of society. 
B)  some changes may be necessary-but consumer-citizens should vote on these changes. 
C)  marketing managers should limit consumers' freedom of choice. 
D)  marketing managers should produce only what they feel is good for consumers. 
E)  None of these alternatives is correct.

Question 7

Monopolistic competition may result in high costs-and therefore it does not do a good job of serving consumers the way they want to be served.

Accepted Answer

A) True 
 B)False

Question 8

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 9

Which of the following area does not relate to "Place" in the Four Ps?

Accepted Answer

A)  Market exposure 
B)  Managing channels 
C)  Kinds and locations of stores 
D)  Branding 
E)  Kinds of intermediaries 
A)  Market exposure 
B)  Managing channels 
C)  Kinds and locations of stores 
D)  Branding 
E)  Kinds of intermediaries

Question 10

The reason that MICRO-marketing costs too much in many firms is that:

Accepted Answer

A)  the marketing concept has not been accepted and implemented. 
B)  most new products are not necessary to meet competition. 
C)  marketing is not really needed. 
D)  advertising is usually ineffective. 
E)  None of these-marketing never costs too much. 
A)  the marketing concept has not been accepted and implemented. 
B)  most new products are not necessary to meet competition. 
C)  marketing is not really needed. 
D)  advertising is usually ineffective. 
E)  None of these-marketing never costs too much.

Question 11

According to the text, micro-marketing does NOT cost too much in the United States-but macro-marketing often DOES cost too much.

Accepted Answer

A) True 
 B)False

Question 12

As a product moves through its product life cycle stages:

Accepted Answer

A)  consumers are offered less product variety. 
B)  distribution tends to become more and more exclusive. 
C)  competition forces firms to skim instead of just meeting competition. 
D)  the promotion emphasis is on building selective demand. 
A)  consumers are offered less product variety. 
B)  distribution tends to become more and more exclusive. 
C)  competition forces firms to skim instead of just meeting competition. 
D)  the promotion emphasis is on building selective demand.

Question 13

MICRO-marketing will probably continue to cost too much as long as:

Accepted Answer

A)  the marketing concept is not accepted. 
B)  firms fail to identify new opportunities. 
C)  firms do "mass marketing." 
D)  some managers believe that anyone can run a business successfully. 
E)  All of these are reasons why MICRO-marketing will probably continue to cost too much. 
A)  the marketing concept is not accepted. 
B)  firms fail to identify new opportunities. 
C)  firms do "mass marketing." 
D)  some managers believe that anyone can run a business successfully. 
E)  All of these are reasons why MICRO-marketing will probably continue to cost too much.

Question 14

Thanks to much publicity, the marketing concept is now practiced by all firms.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements is true?

Accepted Answer

A)  Research shows that many customers are not satisfied and feel that some companies do not deliver on their promises. 
B)  Research shows that most customers are somewhat satisfied and feel that companies usually deliver on their promises. 
C)  Research shows that most customers are satisfied and feel that companies deliver on their promises. 
A)  Research shows that many customers are not satisfied and feel that some companies do not deliver on their promises. 
B)  Research shows that most customers are somewhat satisfied and feel that companies usually deliver on their promises. 
C)  Research shows that most customers are satisfied and feel that companies deliver on their promises.

Question 16

A S.W.O.T. analysis

Accepted Answer

A)  should help a manager develop a strategy that leads to a competitive advantage. 
B)  seeks to improve strategy planning by "scanning for warnings, omens, and tips" about competitors' plans. 
C)  is not necessary if competitors have already entered the market. 
D)  defends against potential competitive threats by planning specific "safeguards, weapons, or tactics." 
E)  None of these is a good answer. 
A)  should help a manager develop a strategy that leads to a competitive advantage. 
B)  seeks to improve strategy planning by "scanning for warnings, omens, and tips" about competitors' plans. 
C)  is not necessary if competitors have already entered the market. 
D)  defends against potential competitive threats by planning specific "safeguards, weapons, or tactics." 
E)  None of these is a good answer.

Question 17

Many important changes are affecting marketing strategy planning. For example, product placements in movies and online games are illustrative of changes in the area of:

Accepted Answer

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

Question 18

Micro-marketing often does cost too much because many firms improperly blend the four Ps and misunderstand both their customers and the market environment that affects their operation.

Accepted Answer

A) True 
 B)False

Question 19

Which of the 4Ps in the marketing mix is most directly related to the recruiting of wholesalers and retailers for a new product introduction?

Accepted Answer

A)  Product 
B)  Place 
C)  Promotion 
D)  Price 
A)  Product 
B)  Place 
C)  Promotion 
D)  Price

Question 20

Which of the following is NOT an explanation for why MICRO-marketing may cost too much in some firms?

Accepted Answer

A)  Some managers make decisions as if customers are eagerly awaiting any product they produce. 
B)  Production managers focus on designing products that are easy to make. 
C)  Financial managers reduce finished-product inventories and force "out of stock" situations. 
D)  Marketing managers do target marketing. 
E)  Some managers don't see a business as a "total system" focused on customers. 
A)  Some managers make decisions as if customers are eagerly awaiting any product they produce. 
B)  Production managers focus on designing products that are easy to make. 
C)  Financial managers reduce finished-product inventories and force "out of stock" situations. 
D)  Marketing managers do target marketing. 
E)  Some managers don't see a business as a "total system" focused on customers.

The basic objective of the U.S. market-directed economic system is to:

Which of the following is NOT a trend that is affecting marketing strategy planning?

Regarding the laws that place limits on marketing activity:

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

A product strategy decision includes all of the following except:

Regarding our MACRO-marketing system, the text suggests that:

Monopolistic competition may result in high costs-and therefore it does not do a good job of serving consumers the way they want to be served.

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 area does not relate to "Place" in the Four Ps?

The reason that MICRO-marketing costs too much in many firms is that:

According to the text, micro-marketing does NOT cost too much in the United States-but macro-marketing often DOES cost too much.

As a product moves through its product life cycle stages:

MICRO-marketing will probably continue to cost too much as long as:

Thanks to much publicity, the marketing concept is now practiced by all firms.

Which of the following statements is true?

A S.W.O.T. analysis

Many important changes are affecting marketing strategy planning. For example, product placements in movies and online games are illustrative of changes in the area of:

Micro-marketing often does cost too much because many firms improperly blend the four Ps and misunderstand both their customers and the market environment that affects their operation.

Which of the 4Ps in the marketing mix is most directly related to the recruiting of wholesalers and retailers for a new product introduction?

Which of the following is NOT an explanation for why MICRO-marketing may cost too much in some firms?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Filters

Exam 20: Ethical Marketing in a Consumer-Oriented World

The basic objective of the U.S. market-directed economic system is to:

Which of the following is NOT a trend that is affecting marketing strategy planning?

Regarding the laws that place limits on marketing activity:

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

A product strategy decision includes all of the following except:

Regarding our MACRO-marketing system, the text suggests that:

Monopolistic competition may result in high costs-and therefore it does not do a good job of serving consumers the way they want to be served.

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 area does not relate to "Place" in the Four Ps?

The reason that MICRO-marketing costs too much in many firms is that:

According to the text, micro-marketing does NOT cost too much in the United States-but macro-marketing often DOES cost too much.

As a product moves through its product life cycle stages:

MICRO-marketing will probably continue to cost too much as long as:

Thanks to much publicity, the marketing concept is now practiced by all firms.

Which of the following statements is true?

A S.W.O.T. analysis

Many important changes are affecting marketing strategy planning. For example, product placements in movies and online games are illustrative of changes in the area of:

Micro-marketing often does cost too much because many firms improperly blend the four Ps and misunderstand both their customers and the market environment that affects their operation.

Which of the 4Ps in the marketing mix is most directly related to the recruiting of wholesalers and retailers for a new product introduction?

Which of the following is NOT an explanation for why MICRO-marketing may cost too much in some firms?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Filters