Deck 1: The Meaning of Marketing

Question 1

________ are items that are used or consumed for personal use.

A) Services
B) Demands
C) Products
D) Promotions
E) Utilities

Answer 1

C

Question 2

An organization that wants to encourage more tourist visits to a certain location is most likely to use which type of marketing?

A) people
B) cause
C) place
D) event
E) idea

Answer 2

C

Question 3

________ are desires for things that are not essential.

A) Needs
B) Wants
C) Demands
D) Values
E) Equities

Answer 3

B

Question 4

A firm can use marketing to attempt to transform a(n) ________ into a perceived need for the firm's product or service.

A) brand
B) equity
C) utility
D) want
E) demand

Question 5

Which of the following is most closely associated with customer relationship management?

A) the creation of perceived needs
B) mass marketing
C) production and distribution efficiencies
D) commitment to customer lifetime value
E) idea and cause marketing

Question 6

If a brand creates a perception of greater value through effective marketing, which of the following will be the most likely result?

A) increased sales revenue
B) decreased customer lifetime value
C) decreased utility
D) increased need
E) decreased demand

Question 7

A marketer who first identifies consumer needs and then creates value by providing products that satisfy those needs is practicing the ________.

A) sales orientation
B) marketing concept
C) customer lifetime value concept
D) production orientation
E) social responsibility concept

Question 8

Enabling meaningful, personalized communication between a business and its customers is most essential to which of the following?

A) the marketing mix
B) brand management
C) customer relationship management
D) the production orientation
E) social responsibility

Question 9

According to your text, modern marketing has its roots in all BUT which of the following?

A) anthropology
B) economics
C) psychology
D) sociology
E) statistics

Question 10

Which of the following is the satisfaction received from owning or consuming a product or service?

A) utility
B) demand
C) valuation
D) want
E) equity

Question 11

________ are necessities to meet urgent requirements.

A) Needs
B) Wants
C) Demands
D) Utilities
E) Equities

Question 12

________ is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers.

A) Selling
B) Advertising
C) Bartering
D) Marketing
E) Negotiating

Question 13

Which of the following is most likely to happen when a consumer does not perceive that a product has utility?

A) The customer will not buy the product.
B) The customer will research the product before buying it.
C) The customer will buy the product without conducting research.
D) The customer will have a perceived need for the product.
E) The customer will not be influenced by marketing.

Question 14

A ________ is a promise to deliver to a consumer specific benefits associated with a product or service.

A) brand
B) perceived need
C) demand
D) value
E) utility

Question 15

________ are items that are used and not retained by a consumer.

A) Services
B) Demands
C) Products
D) Promotions
E) Utilities

Question 16

A for-profit firm delivers ________ in exchange for money from consumers.

A) demand
B) value
C) perceived need
D) perceived want
E) need

Question 17

A(n) ________ is created when a customer and business have ongoing interactions through the sales of a product or service.

A) utility
B) marketing concept
C) customer relationship
D) exchange function
E) facilitating function

Question 18

________ is an individual's financial capacity to buy what she wants.

A) Value
B) Demand
C) Social need
D) Utility
E) Exchange

Question 19

Which of the following groups is the ultimate judge of a product's utility?

A) marketers
B) management
C) consumers
D) suppliers
E) government agencies

Question 20

A company achieves ________ for itself by creating value for customers.

A) utility
B) needs
C) profits
D) a brand
E) a marketing concept

Question 21

Sales opportunities in the United States expanded most notably during which of the following time periods?

A) the Revolutionary War
B) the years immediately following the Revolutionary War
C) World War I
D) the Great Depression
E) the 1930s

Question 22

Which of the following marketing orientations was prevalent during the years of the Great Depression?

A) product
B) social responsibility
C) consumer
D) sales
E) relationship

Question 23

Assembling and packaging are examples of ________ functions.

A) exchange
B) public
C) consumer
D) physical
E) facilitating

Question 24

A company's process of creating value occurs ________ the selling process.

A) before
B) after
C) during
D) only before and during
E) before, during, and after

Question 25

When a company calculates ________, the company looks at how much profit it expects to make from a particular customer, including each purchase he will make from the company now and in the future.

A) customer lifetime value
B) customer relationship management
C) utility
D) the exchange function
E) the marketing mix

Question 26

Selling and pricing are examples of ________ functions.

A) exchange
B) public
C) consumer
D) facilitating
E) physical

Question 27

AMA stands for ________.

A) the Advertising and Marketing Association
B) the Advertising and Marketing Agency
C) the Association of Market Advertisers
D) the American Media Association
E) the American Marketing Association

Question 28

When a company practices the marketing concept, ________ serve as the foundation for marketing activities.

A) profits
B) customers
C) efficiencies
D) sales
E) suppliers

Question 29

During which of the following time periods was an increased focus on social responsibility in business most significant?

A) the first decades of the twentieth century
B) the Great Depression
C) the 1950s
D) the 1980s
E) the 2000s

Question 30

A business using a relationship orientation focuses on creating value-added relationships with ________.

A) consumers only
B) suppliers only
C) government agencies only
D) consumers and government agencies
E) consumers and suppliers

Question 31

Which of the following marketing orientations focuses primarily on improving efficiencies?

A) production orientation
B) relationship orientation
C) sales orientation
D) consumer orientation
E) social responsibility orientation

Question 32

Risk-taking and the promise of servicing a product after purchase are examples of ________ functions.

A) exchange
B) facilitating
C) consumer
D) public
E) physical

Question 33

Advertisements for products and services began appearing in American newspapers during the ________.

A) early 1700s
B) mid 1800s
C) post-Civil War era
D) early twentieth century
E) Great Depression

Question 34

Businesses use the marketing concept when they focus on ________.

A) limiting the environmental impact of the company's products
B) growing profit margins
C) fulfilling the expectations of their customers
D) efficiently distributing products to retailers
E) creating promotional programs that will increase sales volumes

Question 35

Which of the following is one of the three main categories of marketing functions?

A) innovation
B) internal communication
C) exchange
D) publicity
E) sales

Question 36

A company that focuses on building value-added relationships is most likely to place the highest value on which of the following?

A) cutting short-term costs
B) building long-term relationships
C) attracting one-time customers who are highly profitable
D) building short-term relationships
E) minimizing the need for communication between company and consumer

Question 37

Which marketing orientation holds that firms should consider society as a whole as a stakeholder?

A) relationship orientation
B) sales orientation
C) consumer orientation
D) social responsibility orientation
E) production orientation

Question 38

Which marketing orientation focuses on creating demand and moving product inventory?

A) production orientation
B) social responsibility orientation
C) consumer orientation
D) sales orientation
E) relationship orientation

Question 39

A ________ orientation is a marketing philosophy that focuses on ways to satisfy customers' unmet needs and wants.

A) consumer
B) promotion
C) sales
D) production
E) social responsibility

Question 40

L.L. Bean refers to the customer as "the most important person ever in this office." This attitude toward the customer is most closely associated with which of the following?

A) the marketing concept
B) the production orientation
C) the sales orientation
D) the social responsibility concept
E) the value-added orientation

Question 41

Amaya works in the marketing department of a national clothing retailer. Amaya's job involves identifying customers who are most likely to generate profits for her company and communicating with those customers in meaningful ways that will encourage them to shop in her company's stores more frequently and to purchase more items during each visit to the store. Amaya's job focuses on ________.

A) the physical function of marketing
B) the sales orientation
C) the production orientation
D) perceived needs
E) customer relationship management

Question 42

A customer shopping at a clothing store is also a(n) ________ of the store.

A) utility
B) stakeholder
C) demand
D) value
E) supplier

Question 43

The Four Ps are ________.

A) price, product, place, and promotion
B) the tactics used to connect services and products
C) product, production, possession, and promotion
D) the steps used to identify target markets
E) the four classifications of consumer goods

Question 44

Which of the following is NOT one of an organization's internal marketing participants?

A) the marketing department
B) the finance department
C) the board of directors
D) the customer
E) the organization's president

Question 45

A successful business is most likely to view its marketing department as ________.

A) the accumulator of customer data
B) the link between customers and the business
C) the creator of all promotions
D) an external shareholder
E) a sales-oriented group

Question 46

Which of the following functions is a marketing department LEAST likely to perform?

A) defining the brand
B) creating promotions
C) securing financing
D) creating a CRM process
E) establishing distribution channels

Question 47

Henry Ford's philosophy was to improve the efficiencies of assembling each Model-T automobile so that its cost could be reduced further for increased consumer affordability. This reflects the ________ orientation.

A) marketing
B) production
C) sales
D) consumer
E) relationship

Question 48

________ influence marketing by favorably presenting a company's products and services through the creation and placement of media content.

A) Investors
B) Competitors
C) Consumers
D) PR agencies
E) Marketing research companies

Question 49

The set of marketing variables a firm uses to achieve its desired sales performance is called the ________.

A) promotion mix
B) product mix
C) marketing mix
D) facilitating function
E) CRM

Question 50

Which of the following most closely reflects the marketing concept?

A) "The supplier is king."
B) "Marketing should be viewed as foraging and not gardening."
C) "This is what I make; won't you please buy it?"
D) "This is what I want; won't you please make it?"
E) "Customers need to be told where they want to go."

Question 51

Which of the following is the best example of a want?

A) Gerard must find a way to get from his apartment to work.
B) Tomas decides to purchase new music for his iPod.
C) Michele is looking for a new place to live after learning that her lease will expire next month.
D) Marie has found a babysitter to watch her toddler son while she is at work.
E) Jane is putting on a coat because it is cold outside.

Question 52

Gretchen is in the process of deciding which new car to buy. In comparing the miles per gallon, luxury features, safety features, and style of three different models, Gretchen is considering each car's ________.

A) demand
B) service
C) utility
D) marketing orientation
E) marketing concept

Question 53

________ can influence a company's marketing decisions by writing letters to management and attending shareholder meetings.

A) Investors
B) Competitors
C) Customers
D) Government agencies
E) Consumers

Question 54

Stew Leonard, the owner of a highly successful regional supermarket chain, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he continues to live in the store's area. Stew Leonard's concern is an illustration of which of the following?

A) a sales orientation
B) a social responsibility orientation
C) utility
D) customer lifetime value
E) a production orientation

Question 55

Which of the following is the best example of a service?

A) the medical examination Jonathon had yesterday
B) the sheet music purchased by the piano teacher
C) the software Monica purchased from a Web site
D) the cleaning supplies purchased for the veterinarian's office
E) the tee-shirt you got for running in a 5K race

Question 56

Establishing a product portfolio, determining pricing, establishing distribution channels, and creating promotions are all core ________ functions.

A) utility
B) marketing
C) management
D) production
E) customer relationship management

Question 57

Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a house. This free use of a moving truck is an example of ________.

A) the creation of value
B) a perceived need
C) a demand
D) social responsibility
E) customer lifetime value

Question 58

Which of the following is NOT one of a company's external marketing participants?

A) the government
B) a competitor
C) an investor
D) a marketing research company
E) the board of directors

Question 59

Some fast-food restaurants offer tasty and convenient food that customers want at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook ________.

A) the marketing concept
B) perceived needs
C) the production orientation
D) social responsibility
E) the sales orientation

Question 60

Which of the following is an example of a need?

A) Cara prefers working out at an indoor gym.
B) Aisha feels connected when she has her cellphone on.
C) Adam is hungry.
D) Shul has to complete his essay for tomorrow's class.
E) Oliver is looking for a new pair of Nike running shoes.

Question 61

A business that practices social responsibility focuses on following high ethical standards and improving society rather than generating profits.

Question 62

Under the marketing concept, marketing and selling are synonymous.

Question 63

Marketing is limited to physical products.

Question 64

Ken works at his company's warehouse, where he makes sure that the correct shipments are delivered to the company's vendors on time. In his job, Ken is fulfilling the ________ marketing function.

A) communication
B) physical
C) facilitating
D) exchange
E) transaction

Question 65

The idea of utility is borrowed from the study of psychology.

Question 66

Only the marketing department is responsible for executing the marketing functions for a company.

Question 67

The marketing department within an organization relies entirely upon internal resources to develop the information needed to make marketing decisions.

Question 68

One of a company's many external marketing participants is the government.

Question 69

Which of the following is an example of the exchange marketing function?

A) Rachel collects customer data in order to identify the most profitable customer relationships.
B) Ziv arranges financing terms for his company's business customers.
C) Kelly supervises the processing and packaging of products before they leave her company's factory.
D) Gus sets the price points for various items in his company's product line.
E) Allison delivers her company's products to its customers.

Question 70

External marketing participants are not considered marketing stakeholders.

Question 71

A company's customers are typically not able to influence the company's marketing decisions.

Question 72

A company that develops green marketing products is displaying a concern for social responsibility.

Question 73

Consumers are likely to unknowingly follow processes when making purchase decisions.

Question 74

Refer to the scenario below to answer the following questions.
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan, then, involved a seasonal promotional gimmick to be implemented from early winter to late spring that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers, both satisfied repeat guests and new guests who had been snagged by her promotional appeals.
"We still have a long way to go," Carol admitted. "Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout winter."
Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their most desired amenities and vacation experiences. By implementing the suggestions she receives from guests, Carol would be following the ________.

A) production orientation
B) relationship orientation
C) sales orientation
D) marketing concept
E) social responsibility concept

Question 75

Other departments within a business are internal marketing stakeholders.

Question 76

According to management guru Peter Drucker, the two basic functions of a business are advertising and sales.

Question 77

Refer to the scenario below to answer the following questions.
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan, then, involved a seasonal promotional gimmick to be implemented from early winter to late spring that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers, both satisfied repeat guests and new guests who had been snagged by her promotional appeals.
"We still have a long way to go," Carol admitted. "Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout winter."
Carol used a seasonal promotional gimmick to reach which target market?

A) business travelers
B) young families
C) retirees
D) summer campers
E) athletes

Question 78

Refer to the scenario below to answer the following questions.
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan, then, involved a seasonal promotional gimmick to be implemented from early winter to late spring that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers, both satisfied repeat guests and new guests who had been snagged by her promotional appeals.
"We still have a long way to go," Carol admitted. "Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout winter."
Carol Veldt's use of "promotional gimmicks" is an example of the ________ orientation.

A) sales
B) marketing concept
C) consumer
D) production
E) relationship

Question 79

The marketing mix includes production, price, promotion, and packaging; this is known as the four Ps of marketing.

Question 80

The sales orientation holds that consumers will not buy enough of a company's products unless the company undertakes advertising and selling efforts.