Deck 1: Developing a Marketing Strategies and a Marketing Plan

Question 1

An accountant preparing financial statements must use a pencil to make all calculations and an eraser to correct errors.Pencils and erasers are examples of:

A)ideas.
B)goods.
C)services.
D)exchange.
E)price.

Answer 1

B

Question 2

Jane wants to buy a bike.She spends a lot of time and energy trying to find the right bike.She does find one and then pays $200 to buy it.The time and energy spent along with the sum of money constitutes the:

A)idea.
B)good.
C)service.
D)exchange.
E)price.

Answer 2

E

Question 3

A company manufactures and sells baby products targeting new moms and dads, grandparents, and people who go to baby showers.Grandparents constitute the company's:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Answer 3

D

Question 4

A feeling of physiological deprivation of the basic necessities of life, such as food, clothing, shelter, or safety is a(n):

A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question 5

A commercial roofing company provides commercial roofing services.It also provides residential roof repair and replacement.The residential market provides solid revenue and constitutes the:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 6

One main purpose of marketing is to create value by:

A)hiring the right people for the promotion of the products being manufactured.
B)informing potential buyers about a product or service.
C)fixing the measure of sacrifice that a customer is willing to make in order to acquire a specific product.
D)developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs.
E)delivering the product on offer to the customer.

Question 7

An artist in an opera performs for the benefit of the audience.The live performance of the artist would be termed a(n):

A)idea.
B)good.
C)service.
D)exchange.
E)price.

Question 8

A toy store's reduced prices have successfully attracted children over the years.The toy store has traditionally offered lower prices than other stores and was also the first to expand into the suburbs and crowded downtown areas of large urban cities.Children are the toy store's:

A)secondary target market.
B)niche market.
C)primary currency market.
D)primary commodity market.
E)primary target market.

Question 9

The customer segment or group to whom a firm is interested in selling its products and services is a(n):

A)commodity market.
B)stock market.
C)target market.
D)currency market.
E)artificial market.

Question 10

Which of the following holds true for the term goods?

A)It refers to tangible customer benefits that are produced by people or machines and can be separated from the producer.
B)It refers to intangible customer benefits that are produced by people or machines and cannot be separated from the producer.
C)It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service.
D)It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed.
E)It refers to the groups of people who need or want a company's products or services and
Have the ability and willingness to buy them.

Question 11

Which of the following holds true for the term price?

A)It refers to the tangible customer benefits that are produced by people or machines and can be separated from the producer.
B)It refers to the intangible customer benefits that are produced by people or machines and cannot be separated from the producer.
C)It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service.
D)It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed.
E)It refers to the groups of people who need or want a company's products or services and
Have the ability and willingness to buy them.

Question 12

A trader in the market trades his goods for the money that is paid for the goods offered by him.This is an example of:

A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question 13

Human beings require clothes to cover their bodies.Some of them may wear designer clothes, while others may pick up cloth from the flea market.This example illustrates different ways to satisfy a basic requirement of life and describes the concept of:

A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question 14

Which of the following holds true for the term services?

A)It refers to the tangible customer benefits that are produced by people or machines and can be separated from the producer.
B)It refers to the intangible customer benefits that are produced by people or machines and cannot be separated from the producer.
C)It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service.
D)It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed.
E)It refers to the groups of people who need or want a company's products or services and
Have the ability and willingness to buy them.

Question 15

A non-governmental organization provides food and shelter to people who make their living on the streets.Food and shelter are included in the definition of:

A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question 16

The trade of things of value between the buyer and the seller so that each is better off as a result is referred to as:

A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question 17

The particular way in which a person chooses to satisfy the requirement for any of the basic necessities of life is a(n):

A)demand.
B)want.
C)exchange.
D)necessity.
E)need.

Question 18

Since women constitute 90 percent of Karen's, a pharmacy chain's, customers, the chain decided to implement changes that would make the shopping experience more pleasant for them.Karen introduced shorter wait-times, wider and better-lit passageways, and more beauty products.Women constitute Karen's:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 19

A company specializes in rock climbing.It aims its advertisements at men and women who are between the ages of 18 and 50.It also aims at overworked executives and people in managerial positions who need to get away from their jobs.These two categories constitute the for the company.

A)commodity market
B)stock market
C)target market
D)currency market
E)artificial market

Question 20

Sports Inc., a global sports brand, wants to deliver an effective campaign across many markets.The company wants to effectively engage the youth across key markets in Europe, and the campaign's main objective is to generate awareness about the company.These efforts are made by Sports Inc.to attract the youth, as they constitute the company's:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 21

A company manufactures soaps.It selects a small number of retail outlets to distribute the product.This is an example of of the four Ps of marketing.

A)people
B)price
C)place
D)product
E)promotion

Question 22

A major sports goods company distributes its products via retailers.It offers attractive subsidies on its products to encourage retailers to sell higher volumes.This is an example of
Of the four Ps of marketing.

A)people
B)price
C)place
D)product
E)promotion

Question 23

Hi Design is a company that allows customers to have a unique experience in that they can open a virtual "shop" that includes an online storefront.This virtual shop also offers other facilities such as website hosting, order management, fulfillment, payment processing, and customer service.The products uploaded by customers can be bought by people visiting the website.This "shop" is an example of:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 24

Art World conducts art contests for kindergarten classes across many schools.Art World encourages parents and siblings to be involved in these contests to encourage and support participants.Parents and siblings constitute the:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 25

Bank International was created to provide the working class with a means of saving.The bank accepts all deposits between $1 and $500.The bank encourages people who save a very small amount every month to continue to save.This is an example of:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 26

The process in which businesses sell to consumers is referred to as:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 27

Spaceair, an aerospace company, is a major service provider for space research organizations.This is an example of:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 28

Mir Air is one of the largest airlines operating in the world.It provides scheduled and charter air transport for passengers to 200 destinations worldwide.Together with its regional partners, the airline operates on average, more than 1,500 scheduled flights daily.This is an example
Of:

A)B2C marketing.
B)D2R marketing.
C)B2B marketing.
D)C2C marketing.
E)C2B marketing.

Question 29

A company is concerned with developing an efficient system for merchandise to be distributed in the right quantities, to the right locations, and at the right time in the most efficient way.It is making:

A)people decisions.
B)price decisions.
C)place decisions.
D)product decisions.
E)promotion decisions.

Question 30

The process of selling merchandise or services from one business to another is referred to as:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 31

A TV network company launched a Facebook application for users.This application allows the users to create their own sports bar and grill.The gamers can serve foods and soft drinks in their bars.This is an example of:

A)broadcast advertising.
B)print media marketing.
C)social media marketing.
D)out-of-home marketing.
E)visual merchandising.

Question 32

The process in which consumers sell to other consumers is referred to as:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 33

Mychoice, a social shopping website, launched a marketing platform that enables shoppers to recommend purchased products to their friends.Friends discover these recommendations through Facebook, Twitter, email, and the Mychoice website and search engine.This is an example of:

A)C2B marketing.
B)D2R marketing.
C)B2B marketing.
D)C2C marketing.
E)B2C marketing.

Question 34

A daycare business provides babysitting services as well as structured preschool education and learning stimulation.This is an example of:

A)B2C marketing.
B)D2R marketing.
C)B2B marketing.
D)C2C marketing.
E)C2B marketing.

Question 35

A fast-food restaurant aiming to attract children between the ages of 4 and 10 creates a tempting menu and cheerful environment.Since children are always accompanied by adults, the restaurant creates a separate, soundproof play area to give the parents some quiet time.The fast-food centre is now popular even with grandparents.Parents and grandparents are the:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 36

The communication that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response is the component of the four Ps of marketing.

A)people
B)price
C)place
D)product
E)promotion

Question 37

An automobile manufacturer buys tires, glass for windscreens, and rubber hoses for its vehicles.The suppliers of these products are other companies that specialize in the manufacturing of this equipment.This is an example of:

A)B2C marketing.
B)D2R marketing.
C)B2B marketing.
D)C2C marketing.
E)C2B marketing.

Question 38

Mary buying an iPod from Tom on eBay is an example of:

A)B2C marketing.
B)D2R marketing.
C)B2B marketing.
D)C2C marketing.
E)C2B marketing.

Question 39

Terliss manufactures passenger car and automobile tires.It offers radial and tubeless tires to dealers and automobile companies.This is an example of:

A)C2C marketing.
B)C2B marketing.
C)B2B marketing.
D)B2C marketing.
E)D2R marketing.

Question 40

All the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it make up the component of the four Ps of marketing.

A)people
B)price
C)place
D)product
E)promotion

Question 41

Which of the following holds true for market-oriented companies?

A)They try to sell as many of their products as possible rather than focus on making products consumers really want.
B)They focus on giving their customers better worth (monetary and non-monetary) for the products than their competitors.
C)They focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs.
D)They focus on the extension of a single brand name to market products in different product categories.
E)They focus on what consumers want and need before they design, make, or attempt to sell
Their products and services.

Question 42

A certain wine retailer sells what it calls QPR wines.QPR refers to quality price ratio.It simply means getting the best quality wine for the lowest possible price.The wine retailer would be an example of a:

A)brand-oriented company.
B)market-oriented company.
C)sales-oriented company.
D)value-oriented company.
E)product-oriented company.

Question 43

The use of Internet tools to easily and quickly create and share content to foster dialogue, relationships, and personal identities is referred to as:

A)broadcast advertising.
B)print media marketing.
C)social media marketing.
D)out-of-home marketing.
E)visual merchandising.

Question 44

Blur Associates is a company that sells gaming consoles.It has developed a Facebook fan page that provides interesting discussion topics.This is an example of:

A)broadcast advertising.
B)print media marketing.
C)social media marketing.
D)out-of-home marketing.
E)visual merchandising.

Question 45

A martial arts training institute has uploaded quick two-to three-minute training tutorial videos on YouTube in order to advertise the institute.This is an example of:

A)secondary merchandising.
B)social media marketing.
C)out-of-home marketing.
D)broadcast advertising.
E)print media marketing.

Question 46

Which of the following holds true for sales-oriented companies?

A)They try to sell as many of their products as possible rather than focus on making products consumers really want.
B)They focus on giving their customers better worth (monetary and non-monetary) for the products than their competitors.
C)They focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs.
D)They focus on the extension of a single brand name to market products in different product categories.
E)They focus on what consumers want and need before they design, make, or attempt to sell
Their products and services.

Question 47

Home Bakers introduced a new cake in the market.It was created as a product to be sold and not based on what customers wanted at that time.Therefore, the company concentrated on selling and paid little attention to the question as to whether it best satisfied customers' needs.Home Bakers is a:

A)product-oriented company.
B)sales-oriented company.
C)market-oriented company.
D)value-oriented company.
E)brand-oriented company.

Question 48

A coffee shop attempted to discover what customers really wanted from their coffee-drinking experience.It found that people liked to chat over their cup of coffee without anybody disturbing them.Therefore, the coffee shop allowed its customers to stay as long as they liked, without requiring them to order a new cup of coffee every 20 minutes to stay in the shop.This is an example of:

A)value orientation.
B)brand orientation.
C)product orientation.
D)market orientation.
E)sales orientation.

Question 49

A company sells cars of a single colour and boast that the cars have many innovative features.The company refuses to change the colour of the car irrespective of the desire of the public to have a different-coloured car.This is an example of:

A)sales orientation.
B)value orientation.
C)market orientation.
D)product orientation.
E)brand orientation.

Question 50

An online Internet marketing company attempts to sell consumers a number of different products.It attempts to sell software to consumers and other businesses to meet their needs.It has created products that are based on the assumption that the product will meet the need of the business or individual, whether or not they have expressed a need for the product.This is an example of a:

A)brand-oriented company.
B)market-oriented company.
C)sales-oriented company.
D)value-oriented company.
E)product-oriented company.

Question 51

An airline was launched as a no-frills, heavy-discount carrier.One bottle of water was provided free of cost to all passengers and airline staff provided free fun and games to entertain passengers.All this was based on the understanding of what the customer needed.This airline has a:

A)sales orientation.
B)value orientation.
C)market orientation.
D)product orientation.
E)brand orientation.

Question 52

Bagged is a leading producer of travel bags.It uses blogging sites to connect with its customers and has daily updates about new marketing trends.This is an example of:

A)visual merchandising.
B)print media marketing.
C)out-of-home marketing.
D)social media marketing.
E)broadcast advertising.

Question 53

Mirrors is a company that believes that every idea and technical solution should be focused on meeting customers' needs.It emphasizes understanding specific customer needs.Mirrors is an example of a:

A)brand-oriented company.
B)market-oriented company.
C)sales-oriented company.
D)value-oriented company.
E)product-oriented company.

Question 54

Home Cook is a company that sells recipe books.It has almost 100 uploads in YouTube.The main video is from the company's star customers who explain how the recipe books have made their lives a lot easier.This is an example of:

A)visual merchandising.
B)print media marketing.
C)out-of-home marketing.
D)social media marketing.
E)broadcast advertising.

Question 55

Which of the following holds true for product-oriented companies?

A)They try to sell as many of their products as possible rather than focus on making products consumers really want.
B)They focus on giving customers better worth (monetary and non-monetary) for the products than their competitors.
C)They focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs.
D)They focus on the extension of a single brand name to market products in different product categories.
E)They focus on what consumers want and need before they design, make, or attempt to sell
Their products and services.

Question 56

Which of the following types of companies focus on each transaction rather than building long- term customer relationships?

A)cause-oriented companies
B)value-oriented companies
C)market-oriented companies
D)sales-oriented companies
E)product-oriented companies

Question 57

Which of the following is a requirement for making a firm value-driven?

A)self-contained independent units with little capacity to influence or be influenced
B)high-priced goods with more emphasis on branding than quality control
C)innovative product range with low emphasis on customers' needs
D)sharing information about customers and competitors across one's own organization
E)one-time transactional interaction rather than building relationships with customers

Question 58

Which of the following holds true for value-oriented companies?

A)They focus on selling as many of their products as possible rather than focus on making products consumers really want.
B)They focus on giving their customers better worth (monetary and non-monetary) for the products than their competitors.
C)They focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs.
D)They focus on the extension of a single brand name to market products in different product categories.
E)They focus on what consumers want and need before they design, make, or attempt to sell
Their products and services.

Question 59

Drakes manufactures dirt bikes.The company makes products and sells them in the market, as many as it can.It does not focus on the needs of the customer.This is an example of:

A)sales orientation.
B)value orientation.
C)market orientation.
D)product orientation.
E)brand orientation.

Question 60

Innovatives Inc.creates phones with features that attract the target market.The devices are created as a product to be sold and not based on what customers want.Apple is a:

A)brand-oriented company.
B)market-oriented company.
C)sales-oriented company.
D)value-oriented company.
E)product-oriented company.

Question 61

The international rock stars that perform at the ceremony to launch the car and the popular Hollywood celebrities that endorse the car represent which of the four Ps of marketing?

A)people
B)price
C)place
D)product
E)promotion

Question 62

For this tennis academy, girls between the ages of 11 and 16 constitute the:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 63

The bike is delivered to Julie by a transport company.This is an example of a(n):

A)idea.
B)good.
C)service.
D)exchange.
E)price.

Question 64

The philosophy that buyers and sellers should develop a long-term bond is called:

A)transformational marketing.
B)transactional marketing.
C)live-in marketing.
D)relational marketing.
E)optimal marketing.

Question 65

A company making fruit juices employs a set of strategies to collect information about customer needs.It then uses this information to focus on identifying and building loyalty among the firm's most valued patrons.This is an example of:

A)customer relationship management.
B)the BCG matrix.
C)Porter's five forces.
D)transformational marketing.
E)live-in marketing.

Question 66

The group of firms and set of techniques and approaches firms use to make and deliver a given set of goods and services is commonly referred to as a(n):

A)value chain.
B)demand optimization.
C)inventory control.
D)demand chain.
E)supply chain.

Question 67

Which of the four Ps of marketing represents the exclusive outlets where the new model will be displayed and sold?

A)people
B)price
C)place
D)product
E)promotion

Question 68

Which of the following holds true for customer relationship management (CRM)?

A)It helps a company to allocate resources and is used as an analytical tool in brand marketing, product management, strategic management, and portfolio analysis.
B)It is a strategic performance management tool that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.
C)It is a set of strategies, programs, and systems that focus on identifying and building loyalty among the firm's most valued patrons.
D)It is a framework for industry analysis and business strategy to determine the competitive intensity and, therefore, the attractiveness of a market.
E)It is a system of processes that enables organizations to centrally manage deployment of
Surveys while dispersing authoring and analysis throughout an organization.

Question 69

An automobile manufacturer maintains a database of when and how repeat customers buy its products, the options they choose, the way they finance the purchase, and so on.This database enables the company to understand customers and make offers that appeal to them.Because of this initiative, a long-term bond is established between the buyer and seller.This is an example of:

A)transformational marketing.
B)transactional marketing.
C)live-in marketing.
D)relational marketing.
E)optimal marketing.

Question 70

The bike is an example of a(n):

A)idea.
B)good.
C)service.
D)exchange.
E)price.

Question 71

These two categories constitute the for the company.

A)commodity market
B)stock market
C)target market
D)currency market
E)artificial market

Question 72

The time and energy spent along with the sum of money constitutes the:

A)idea.
B)good.
C)service.
D)exchange.
E)price.

Question 73

Heaven Hotels is a hotel chain that treats its customers like family.The company further influences its bond with customers with its quality of staff, reliability, consistent overall high quality, and global social responsibility programs.This is an example of:

A)transformational marketing.
B)transactional marketing.
C)live-in marketing.
D)relational marketing.
E)optimal marketing.

Question 74

Fly Air offers credit-card flyer miles for a flight.If a Fly Air flight is late, the company gives the miles back to the customer without the customer even having to complain.Therefore, Fly Air has maintained excellent customer satisfaction ratings.This policy creates long-term bonds with passengers and makes them loyal to the company.This is an example of:

A)relational marketing.
B)transactional marketing.
C)transformational marketing.
D)live-in marketing.
E)optimal marketing.

Question 75

When a customer makes an online purchase from the website of a company selling computers, the website provides the customer with information regarding pricing, product variety, and product availability.The customer makes a product choice.The order then goes to the assembly plant, and then to all of the company's vendors and their vendors.This is an example of a(n):

A)value chain.
B)demand optimization.
C)inventory control.
D)demand chain.
E)supply chain.

Question 76

Which of the following regards the buyer-seller relationship as a series of individual sales, so anything that happened before or after the sales is of little importance?

A)referral marketing
B)transactional orientation
C)live-in marketing
D)relational orientation
E)influence marketing

Question 77

Amateur tennis enthusiasts constitute the:

A)primary commodity market.
B)primary target market.
C)primary currency market.
D)secondary target market.
E)niche market.

Question 78

Which of the four Ps of marketing does the $300,000 tag represent?

A)people
B)price
C)place
D)product
E)promotion

Question 79

Each link in the supply chain is out for its own best interest in a:

A)transformational orientation.
B)transactional orientation.
C)live-in orientation.
D)relational orientation.
E)optimal orientation.

Question 80

A sales agent is paid a commission for each sale that she makes.She convinces the customer to buy the product by describing its benefits, and then she receives her commission.The customer is of little concern to her.This is an example of:

A)transformational marketing.
B)transactional marketing.
C)live-in marketing.
D)relational marketing.
E)optimal marketing.