Deck 1: Defining Marketing for the 21st Century

Question 1

Marketing is both an "art" and a "science" because there is constant tension between the formulated side of marketing and the ________ side.

A) behaviour
B) creative
C) management
D) selling
E) forecasting

Answer 1

B

Question 2

________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

A) Targeting
B) Marketing management
C) Forecasting
D) Segmentation
E) Distribution

Answer 2

B

Question 3

Marketers often use the term ________ to cover various groupings of customers.

A) social class position
B) people
C) demographic segment
D) market
E) buying power

Answer 3

D

Question 4

Charles Revson of Revlon observed: "In the factory, we make cosmetics; in the store, ________."

A) we implement ads
B) we sell quality
C) we sell hope
D) we challenge competitors
E) we make profits

Question 5

The Toronto Zoo represents ________ marketing: customers view animals in their natural habitats.

A) event
B) experiences
C) goods
D) celebrity
E) services

Question 6

________ actively work to build a strong, favourable, and unique image in the minds of their target publics.

A) Experiences
B) Shopping goods
C) Properties
D) Durable goods
E) Organizations

Question 7

As economies advance, a growing proportion of their activities focuses on the production of ________.

A) events
B) services
C) experiences
D) places
E) products

Question 8

When Jack purchases his air conditioning unit in the winter to avoid the high prices found in the summer, he is exhibiting ________ demand.

A) declining
B) negative
C) latent
D) irregular
E) impulse

Question 9

In ________ more customers would like to buy the product than can be satisfied.

A) overfull demand
B) excessive
C) irregular demand
D) negative demand
E) latent demand

Question 10

In ________ consumers may share a strong need that cannot be satisfied by an existing product.

A) latent demand
B) irregular demand
C) declining demand
D) negative demand
E) non-existent demand

Question 11

Good marketing is no accident, but a result of careful planning and

A) execution.
B) research.
C) tactics.
D) selling.
E) strategies.

Question 12

Marketing management is

A) the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
B) developing marketing strategies to move the company forward.
C) monitoring the profitability of the companies products and services.
D) a set of processes for creating, communicating, and delivering value to customers.
E) identifying and meeting human and social needs.

Question 13

School and universities, encyclopedias, nonfiction books, and magazines all produce and distribute which type of entity that can be marketed?

A) Information
B) Properties
C) Celebrities
D) Places
E) Organizations

Question 14

When IKEA noticed that people wanted good furniture at a substantially lower price and created knockdown furniture, they demonstrated marketing savvy and turned a private or social need into a(n)

A) customer want.
B) profitable business opportunity.
C) market need.
D) invention.
E) product development.

Question 15

Yasmine is very upset that she can't get tickets to the upcoming Rolling Stones concert. "Why do they keep advertising the show if you can't get tickets?" wonders Yasmine. Which of the following demand states applies to Yasmine's situation?

A) unwholesome demand
B) full demand
C) latent demand
D) nonexistent demand
E) overfull demand

Question 16

A ________ is someone seeking a response (attention, a purchase, a vote, a donation) from another party, called the ________.

A) marketer; prospect
B) fund raiser; contributor
C) salesperson; customer
D) celebrity; audience
E) politician; voter

Question 17

Canada's oil industry falls under which of the five market types in the modern exchange economy?

A) consumer market
B) manufacturer market
C) intermediary market
D) resource market
E) government market

Question 18

If a female consumer hates smoking and is willing to pay an extra tax just to help eliminate smoking in her city, she is exhibiting ________ with respect to her views toward smoking.

A) unwholesome demand
B) negative demand
C) non-existent demand
D) declining demand
E) latent demand

Question 19

________ goods constitute the bulk of most countries' production and marketing efforts.

A) Durable
B) Event
C) Physical
D) Service
E) Impulse

Question 20

A social definition of marketing says ________.

A) effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers
B) a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products
C) marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
D) marketing is the process of extracting the maximum value from consumers to facilitate corporate growth
E) marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer

Question 21

The ________ promises to lead to more accurate levels of production, more targeted communications, and more relevant pricing.

A) age of deregulation
B) age of globalization
C) industrial age
D) production age
E) information age

Question 22

In response to threats from such companies as AOL, Amazon, Yahoo, eBay, E'TRADE, and dozens of others, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This process became known as

A) disintermediation.
B) e-commerce.
C) new market synchronization.
D) e-collaboration.
E) reintermediation.

Question 23

Rising promotion costs and shrinking profit margins are the result of

A) globalization.
B) deregulation.
C) heightened competition.
D) changing technology.
E) privatization.

Question 24

Many countries have ________ industries to create greater competition and growth opportunities.

A) deregulated
B) open-market
C) regulated
D) created mass market
E) scientifically segmented

Question 25

Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries this is called

A) customization.
B) industry convergence.
C) heightened competition.
D) globalization.
E) acquisition.

Question 26

The ________ is practised most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance, encyclopedias, and funeral plots.

A) holistic marketing concept
B) production concept
C) product concept
D) selling concept
E) marketing concept

Question 27

If marketers are characterized as "gardening" rather than "hunting," the ________ is most likely to be the concept the marketers are following.

A) marketing concept
B) selling concept
C) product concept
D) social responsibility concept
E) production concept

Question 28

Many brick-and-click competitors became stronger contenders in the marketplace than the pure-click firms because they had a larger pool of resources to work with and

A) direct selling capability.
B) better prices.
C) well-established brand names.
D) one-on-one communications.
E) greater value.

Question 29

MAC Cosmetics trains their artists to collaborate with customers so that each one feels she's had an authentically artistic experience. This is an example of which major societal force behind the new marketing realities?

A) consumer resistance
B) heightened competition
C) network information technology
D) retailer transformation
E) industry convergence

Question 30

Under which of the following company orientations toward the marketplace would we expect to find the "better mousetrap" fallacy?

A) holistic marketing concept
B) production concept
C) product concept
D) selling concept
E) marketing concept

Question 31

Global marketers face additional challenges and must also decide

A) how to develop a superior product and packaging.
B) how to prepare the lowest bids.
C) how to help buyers achieve higher revenue.
D) how to price carefully due to limited purchasing power.
E) how to adapt their product and service features to each country.

Question 32

Much of a brand's strength depends on developing a superior product and backing it with engaging communications in which of these key customer markets?

A) consumer markets
B) business markets
C) government markets
D) nonprofit markets
E) global markets

Question 33

In business markets, advertising can play a role, but a stronger role may be played by the sales force, ________, and the company's reputation for reliability and quality.

A) distribution
B) performance
C) promotion
D) brand image
E) price

Question 34

When online dotcoms, such as TD Waterhouse and Chapters.ca cut out the majority of middlemen that normally would participate in the exchange process, they were advocating

A) category killers.
B) disintermediation.
C) everyday low prices.
D) supply-chain conglomeration.
E) reintermediation.

Question 35

In response to giant retailers and category killers, entrepreneurial retailers are building entertainment into stores with coffee bars, lectures, demonstrations, and performances. They are marketing a(n) ________ rather than a product assortment.

A) customer delight
B) intangible benefit(s)
C) total service solution
D) customer value
E) experience

Question 36

Mohan Sawhney has proposed the concept of ________ to describe a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.

A) horizontal integration
B) betamarket
C) vertical integration
D) synchronized marketing
E) metamarket

Question 37

Dell Computer doesn't prepare a perfect computer for its target market. Instead, it provides product platforms on which each person customizes the features he or she desires in the computer. This is an example of a company embracing the

A) service concept.
B) product concept.
C) selling concept.
D) marketing concept.
E) production concept.

Question 38

Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called

A) global markets.
B) consumer markets.
C) business markets.
D) service markets.
E) nonprofit and governmental markets.

Question 39

Customers today perceive fewer real product differences, show less brand loyalty, and are becoming more sensitive to

A) point-of-purchase messaging.
B) engaging communication.
C) direct response techniques.
D) customer service.
E) price and quality.

Question 40

When 3M, HP, and Motorola practise researching or imaging latent needs of consumers, they are most likely using which of the following marketing orientations with respect to their consumers?

A) supply-side orientation
B) promotion orientation
C) proactive marketing orientation
D) reactive market orientation
E) selling orientation

Question 41

The selling concept is practised most aggressively with

A) business products.
B) packaged goods.
C) branded products and services.
D) unsought goods.
E) trendy items.

Question 42

As economies advance, a growing proportion of their activities focuses on the production of ________.

A) services
B) products
C) events
D) experiences
E) luxury goods

Question 43

As consumers grow more socially conscious, a number of companies are using ________ as a way to differentiate themselves from competitors, build consumer preference, and achieve notable sales and profit gains.

A) benefit marketing
B) environmental marketing
C) financial accountability marketing
D) internal marketing
E) social-responsibility marketing

Question 44

Marketing is not a department so much as a

A) company orientation.
B) philosophy.
C) branch of management.
D) branch of economics.
E) function.

Question 45

According to Theodore Levitt, who drew a perceptive contrast between the selling and marketing concepts, ________ is preoccupied with the need to convert products into cash.

A) selling
B) direct marketing
C) holistic marketing
D) service marketing
E) marketing

Question 46

The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.

A) ethically responsible marketing manager
B) focused business model
C) customer-centred business
D) societal responsibility marketing concept
E) production-centred business

Question 47

The marketing concept holds that the key to achieving organization goals consists of the company being more effective then competitors in creating, delivering, and communicating

A) unbeatable selection.
B) superior supply channels.
C) a better mousetrap.
D) the lowest prices.
E) superior customer value.

Question 48

Relationship marketing also emphasizes customer retention because attracting new customers may cost ______ times as much as retaining an existing one.

A) five
B) seven
C) ten
D) three
E) twenty

Question 49

The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.

A) production
B) marketing
C) selling
D) holistic marketing
E) product

Question 50

Holistic marketing incorporates ________, ensuring that everyone in the organization embraces appropriate marketing principles, especially senior management.

A) strategic planning
B) share of customer
C) profit objectives
D) internal marketing
E) the marketing mix

Question 51

Carnival Connections, an online marketing site created by the cruise marketer so that cruise fans could compare notes, is an example of which dimension of holistic marketing?

A) global marketing
B) integrated marketing
C) internal marketing
D) socially responsible marketing
E) relationship marketing

Question 52

The ________ concept is based on the development, design, and implementation of marketing programs, processes, and activities that are broad in scope and interdependent.

A) holistic marketing
B) social marketing
C) niche marketing
D) performance marketing
E) relationship marketing

Question 53

________ marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business.

A) Synthetic
B) Holistic
C) Demand-based
D) Direct
E) Relationship

Question 54

The ________ concept holds that consumers will favour those products that offer the most quality, performance, or innovative features.

A) marketing
B) production
C) selling
D) product
E) holistic marketing

Question 55

Companies shape separate offers, services, and ________ to individual customers based on information about past transactions, demographics, psychographics, and media and distribution preferences.

A) warranties
B) messages
C) discount
D) delivery
E) prices

Question 56

Several scholars have found that companies who embrace the marketing concept achieve superior performance. This was first demonstrated for companies practicing a ________ understanding and meeting customers' expressed needs.

A) holistic market orientation
B) responsive market orientation
C) total market orientation
D) impulsive market orientation
E) proactive marketing orientation

Question 57

One traditional depiction of marketing activities is in terms of the marketing mix or four Ps. The four Ps are characterized as being

A) product, production, price, and place.
B) promotion, place, positioning, and price.
C) product, positioning, place, and price.
D) place, promotion, production, and positioning.
E) product, price, promotion, and place.

Question 58

The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.

A) event
B) place
C) property
D) service
E) idea

Question 59

Holistic marketing incorporates ________ which addresses broader concerns and their ethical, environmental, legal, and social context of marketing activities and programs.

A) social responsibility marketing
B) integrated marketing
C) performance marketing
D) internal marketing
E) financial marketing

Question 60

Which of the following corporate social initiatives supports behaviour-change campaigns?

A) cause marketing
B) corporate philanthropy
C) cause-related marketing
D) corporate community involvement
E) corporate social marketing

Question 61

The shift to digital technology fueling the merging of the computing and consumer-electronics industries is an example of which major societal force?

A) disintermediation
B) globalization
C) deregulation
D) consumer resistance
E) industry convergence

Question 62

When a customer has a(n) ________ need the customer wants to be seen by friends as a savvy consumer.

A) secret
B) real
C) delight
D) stated
E) unstated

Question 63

________ reflects the perceived tangible and intangible benefits and costs to customers.

A) Value
B) Comparison shopping
C) Satisfaction
D) Loyalty
E) Expectations

Question 64

A specific set of tasks make up successful marketing management and marketing leadership. The first task for a company is to

A) develop marketing strategies and plans.
B) deliver value.
C) connect with customers.
D) shape the market offerings.
E) build strong brands.

Question 65

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called

A) target markets.
B) demographic markets.
C) focused markets.
D) primary markets.
E) tertiary markets.

Question 66

When Volvo runs advertisements suggesting that it is the safest car money can buy, it has ________ its market offering.

A) profiled
B) segmented
C) positioned
D) demanded
E) questioned

Question 67

Marketing feedback and ________ processes are necessary to understand the efficiency and effectiveness of marketing activities and how both could be improved.

A) analysis
B) consumer behaviour
C) control
D) forecast
E) measurement

Question 68

For each target market, the firm develops a ________. The offering is positioned in the minds of the target buyers as delivering some central benefit(s).

A) value offering
B) niche offering
C) market offering
D) social offering
E) segment offering

Question 69

The fact that business buyers in today's marketplace can sometimes run a reverse auction is an example of which new consumer capability?

A) a greater variety of available goods and services
B) a substantial increase in buying power
C) greater ease in interacting and placing and receiving orders
D) a great amount of information about practically everything
E) an ability to compare notes on products and services

Question 70

Which of the following is the best example of consumers' amplified voice to influence peer and public opinion?

A) auto enthusiasts talking about chrome rims at CarSpace.com
B) reverse auctions in which sellers compete to capture business
C) the ability to access online newspapers from anywhere in the world
D) Amazon.com branching into retails sales of clothing and accessories
E) social media such as Facebook and Flickr

Question 71

Companies as diverse as General Motors and McDonald's are embracing which new company capability to communicate with the public, customers, and employees?

A) Factory customization
B) Corporate blogging
C) Private intranets
D) Internet training products
E) Online and offline "buzz"

Question 72

At the heart of any marketing program is the ________ the firm's tangible offering to the market.

A) product
B) packaging
C) auxiliary offer
D) sales support team
E) service offer

Question 73

Marta has a(n) ________ need; she is expecting admiration of her fashion sense from her friends because she has just purchased a skirt in this spring's hottest colour.

A) real
B) delight
C) stated
D) secret
E) unstated

Question 74

The broad environment consists of six components; one of which is the

A) demographic environment.
B) promotion environment.
C) service supplier environment.
D) distribution environment.
E) investment environment.

Question 75

When a customer has a(n) ________ need he/she wants a car whose operating cost, not its initial price, is low.

A) unstated
B) real
C) secret
D) stated
E) delight

Question 76

Organizations catering to the ________ need to price their offerings carefully because these markets usually have limited purchasing power.

A) business market
B) nonprofit market
C) global market
D) consumer market
E) exclusive market

Question 77

________ includes all the actual and potential rival offerings and substitutes that a buyer might consider.

A) Competition
B) The product offering
C) The marketing environment
D) A value proposition
E) The supply chain

Question 78

The ________ includes the immediate actors involved in producing, distributing, and promoting the offering. The main actors are the company, suppliers, distributors, dealers, and the target customers.

A) operations environment
B) strategic environment
C) task environment
D) management environment
E) tactical environment

Question 79

An integrated marketing communications program that maximizes the individual and collective contribution of all communication activities achieves which of the marketing management tasks?

A) creating long-term growth
B) building strong brands
C) capturing market insights
D) communicating value
E) delivering value

Question 80

If a marketer decides to use warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using what is called a

A) distribution channel.
B) relationship channel.
C) intermediary channel.
D) brand channel.
E) service channel.