Deck 1: Overview of Marketing

Question 1

Small start-up companies are unable to control their marketing mixes.

Answer 1

False

Question 2

Because thoughts,opinions,and philosophies are neither goods nor services,they cannot really be marketed.

Answer 2

False

Question 3

When a tee shirt manufacturer states,"We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," their statement reflects the views that were popular in which era of the evolution of marketing?

A)Production-oriented
B)Sales-oriented
C)Market-oriented
D)Value-based marketing
E)Economic-oriented

Answer 3

A

Question 4

When a value proposition is advertised,its purpose is to inform,persuade or remind customers about the product or service.

Question 5

In value cocreation,the customer is involved as a collaborator in the creation of a product or service,which provides additional value to the customer.

Question 6

Marketers might wish to sell their products to everyone,but it is not practical to do so.

Question 7

Understanding a customer's needs and wants is fundamental to marketing success.

Question 8

By publishing a Code of Ethics,a firm ensures that all employees will behave ethically.

Question 9

Value is what you get for what you give.

Question 10

Over the past decade or so,marketers have begun to realize that it is best to structure a firm's customer orientation in terms of transactions rather than relationships.

Question 11

Marketing is an activity that only large firms with specialized departments can execute.

Question 12

The power adapters Dell sells with its computers are by small companies specializing in power-related accessories.Dell and the power adapter manufacturers are engaging in B2B marketing.

Question 13

(p.06,Opening vignette)The latest introduction from Apple™,the iPad,has been successful because it provides value to customers.

Question 14

Value-based marketing helps to build long-term customer loyalty.

Question 15

Jami sells construction equipment.Whenever she calls on her building contractor customers,she asks if they are having any problems.In doing so,Jami is addressing which of the following core aspects of marketing?

A)Satisfying customer needs and wants
B)The exchange function of marketing
C)Product,place,promotion,and price decisions
D)Decisions regarding in which setting marketing takes place
E)Creating value

Question 16

Garage sales and online classified ads are examples of C2C marketing.

Question 17

When a car manufacturer sells trucks,cars,and car parts to the government or military,this is an example of B2C marketing.

Question 18

The four Ps include product,promotion,planning,and place.

Question 19

The group of firms that makes and delivers a given set of goods and services is known as a supply chain.

Question 20

Good marketing is not a random activity.

Question 21

Which of the following questions must be addressed when making marketing decisions?

A)How is the product to be designed?
B)How much should the product cost?
C)Where should the product be promoted?
D)How will the product be delivered to the customer?
E)All of these

Question 22

Marketing includes offering:

A)goods.
B)services.
C)ideas.
D)goods,services,and ideas.
E)goods and services only.

Question 23

Marketers must determine the price of a product carefully on the basis of the potential buyers' beliefs about:

A)its value.
B)the environment.
C)the cost to manufacture the product.
D)the economic outlook.
E)the product's new advertising campaign.

Question 24

Julia is considering a career in marketing.She is concerned about the image of marketers as fast-talking,high-pressure people.When reading about the core aspects of marketing,Julia is relieved to see that in marketing:

A)all parties to an exchange should be satisfied.
B)promotion is the most important consideration,followed by pricing decisions.
C)decisions are made regarding how a product is designed.
D)customers are not considered until the product is ready for sale.
E)distribution is controlled by customers.

Question 25

Four Winds Art Gallery recently began offering appraisals of customers' art collections,in addition to continuing to sell paintings.Four Winds is:

A)expanding from offering just services to also offering goods.
B)implementing a market segmentation strategy.
C)capturing value through multiple pricing strategies.
D)expanding from offering just goods to also offering services.
E)increasing customer value through inflated appraisal evaluations.

Question 26

When referring to "exchange," marketers are focusing on:

A)the location where products and services are traded.
B)the price charged,adjusted for currency exchange rates.
C)location-based tactics for creating value.
D)promotional offers designed to stimulate barter.
E)the trading of things of value.

Question 27

The owner of The Pipe Doctor,a plumbing service,often orders the sinks,faucets,and toilets he installs for his customers.Since he is paid for these items and also for the labor to install them,the Pipe Doctor:

A)is a provider of goods.
B)is a service provider.
C)provides both goods and services.
D)is primarily a marketer of ideas.
E)offers neither goods nor services.

Question 28

Which of the following is a core aspect of marketing?

A)Satisfying as many needs as possible.
B)Creating a product that everyone will want to buy.
C)Setting prices lower than all competitors.
D)Making product,place,promotion,and price decisions.
E)All of these.

Question 29

Fiona has developed a new software application that automatically recalculates and reformats accounting information based on the standards used in each country.Her product is superior to anything that exists on the market.Which of the following questions will she have to address when making marketing decisions?

A)How the software will be promoted?
B)What price should she charge?
C)Should she sell her software on the Internet?
D)In what country should she offer the software for sale first?
E)All of these

Question 30

The four Ps comprise the marketing mix,which is the ______________ set of activities that the firm uses to respond to the wants of its target markets.

A)unpredictable
B)external
C)internal
D)controllable
E)global

Question 31

The basic difference between a good and a service is that a good:

A)provides intangible benefits.
B)can be physically touched.
C)is always less expensive than a corresponding service.
D)generates greater interest among consumers.
E)is more quickly forgotten by consumers.

Question 32

Whenever Valerie has a new massage therapy customer,she invites the person to be on her e-mail distribution list.In the process,in addition to exchanging her massage therapy service for payment,Valerie is gathering:

A)information.
B)promotional capital.
C)pricing data.
D)value cocreation.
E)all of these.

Question 33

Xavier is analyzing potential market segments.He should carefully seek potential customers who have both an interest in his products and:

A)a thorough knowledge of his brand messages.
B)the ability to buy them.
C)knowledge of competing products.
D)the ability to negotiate discounts.
E)are removed from traditional marketing alternatives.

Question 34

The price of a product:

A)is usually expressed in terms of money.
B)includes the time involved in the purchase decision.
C)includes the effort and energy involved in researching the product.
D)is everything the buyer gives up to obtain the product.
E)all of these

Question 35

The fundamental goal of marketers when creating goods,services,or combinations of both,is to:

A)defeat the competition.
B)serve all consumers.
C)operate according to government regulations.
D)stimulate short-term sales.
E)create value.

Question 36

UPS washes its trucks nightly so they are always clean,and requires its delivery people to wear clean,unwrinkled uniforms.UPS probably established these rules because they know that:

A)consumers want friendly delivery people.
B)most delivery services do not require uniforms.
C)consumers' judgment of the benefits they receive from services are tied to the image of the producer.
D)the goods UPS sells are easily replicated.
E)all of these

Question 37

Marketing traditionally has been divided into a set of four interrelated decisions known as the marketing mix,or four Ps,including all of the following EXCEPT:

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

Question 38

Brian is struggling with the choice of publishing his new book,"How to cook Polish Barbeque" as an e-book or a paperback.Brian is addressing which core marketing aspect?

A)Developing a promotional plan.
B)Managing the Exchange function of marketing.
C)Making product decisions.
D)Deciding where and how to sell the product.
E)Pricing the product.

Question 39

Some discount stores put products in large bins and let consumers hunt and find bargains.The price these consumers pay includes:

A)only the actual price they pay at the register.
B)the value of their time and energy.
C)the excitement they experience in finding an item they desire.
D)the savings to the store of not having to display the products neatly on shelves.
E)all of these

Question 40

Of primary interest to marketers are ___________________ buyers.

A)centrally controlled
B)unqualified and underserved
C)qualified potential
D)first-time
E)C2C

Question 41

Yesenia,the new university course scheduling manager,is struggling with adjustments to the fall schedule.She is trying to determine how to offer the classes students need at the times when students need them.Yesenia is struggling with the marketing function of:

A)communicating the value proposition.
B)supply chain management.
C)creating value.
D)capturing value.
E)value cocreation.

Question 42

By promoting perfume based on youth,style,and sex appeal,Calvin Klein is attempting to:

A)influence social norms regarding sexuality.
B)encourage consumers to participate in product redesign.
C)stimulate supply chain management cooperation.
D)increase the perceived value of their products.
E)none of these.

Question 43

Local television advertising often includes ads for automobiles dealerships using actors trying to create a sense of excitement and urgency among consumers.These ads are attempting to achieve the promotional goal of _____________ potential buyers.

A)informing
B)persuading
C)reminding
D)all of these
E)none of these

Question 44

UPS,FedEx,DHL,and other shipping companies support other firms'________________ marketing goals.

A)supply chain management
B)value communication
C)value capture
D)retail management
E)none of these

Question 45

Henriette offers financial counseling and management on a fee-only basis.She has found that different customers are willing to pay different rates for her services.This shows that her pricing decisions should depend primarily on:

A)regulations determining the maximum fees financial advisors can charge.
B)changes in technology allowing consumers to manage their own affairs.
C)how different customers perceive the value of her services.
D)changes in the economy.
E)how much effort it takes to serve different types of clients.

Question 46

The importance of supply chain management is often overlooked in the study of marketing because:

A)marketing has no responsibility for supply chain management.
B)supply chain management doesn't add much value for customers.
C)companies do not want customers to know anything about the supply chain.
D)many of the activities take place behind the scenes.
E)all of these.

Question 47

Every Christmas season,Anheuser-Busch runs television ads featuring Clydesdale horses in a winter scene.These ads focus on the promotional goal of __________ consumers about Budweiser,the company's brand of beer.

A)informing
B)persuading
C)reminding
D)all of these
E)none of these

Question 48

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students.These bulletin boards increase _________ marketing.

A)B2C
B)C2B
C)B2B
D)C2C
E)underground

Question 49

Effective promotion enhances a product or service's:

A)supply chain management system.
B)wholesaling capabilities.
C)perceived value.
D)design features.
E)all of these.

Question 50

When considering career choices in marketing,many students overlook supply chain management because:

A)it is considered too quantitative.
B)marketing has no responsibility for supply chain management.
C)companies generally outsource these activities,and so there are rarely supply chain jobs available.
D)it only takes place in large,urban areas.
E)many of the activities take place behind the scenes.

Question 51

As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided to maintain their existing dealer networks.The car manufacturers considered switching from _____ to _____ marketing.

A)B2C; B2B
B)B2C; C2C
C)B2B; B2C
D)B2B; C2C
E)C2C; B2C

Question 52

The marketing goal of getting the "right quantities to the right locations,at the right time" is:

A)communicating the value proposition.
B)supply chain management.
C)creating value.
D)capturing value.
E)price and performance management.

Question 53

Marketing efforts designed to get the product or service to the right customer,when that customer wants it,are called:

A)supply chain management.
B)a transactional orientation.
C)wholesaling.
D)value cocreation.
E)endless chain marketing.

Question 54

Retailers accumulate merchandise from producers in large amounts and sell to consumers in smaller amounts.Retailers function as:

A)market intermediaries.
B)monopolists.
C)regulators of consumer demand.
D)wholesale specialists.
E)intermediate promoters.

Question 55

Delivering the value proposition is also known as:

A)endless chain marketing.
B)a transactional orientation.
C)wholesaling.
D)product design.
E)supply chain management.

Question 56

The goal of promotion is to _______________ potential buyers about a product or service.

A)inform
B)persuade
C)remind
D)all of these
E)none of these

Question 57

Auction sites like eBay have increased opportunities for ________ marketing.

A)B2B
B)C2C
C)D2C
D)C2D
E)B2C

Question 58

________________ is communication by a marketer that informs,persuades,and reminds potential customers about a product to influence their opinions and elicit a response.

A)Pricing
B)Promotion
C)Placement
D)A relational orientation
E)Value cocreation

Question 59

Supply chain management involves integrating the efforts of:

A)suppliers.
B)manufacturers.
C)warehouses.
D)stores.
E)All of these.

Question 60

The traditional marketing channel through which consumers most often find and purchase goods and services is known as:

A)B2B
B)C2C
C)D2C
D)C2D
E)B2C

Question 61

Many U.S.companies first discovered marketing during the _________ era.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 62

Serena studies her customer profiles,market research data,complaints,and other information attempting to better understand what her customers want.Serena operates in the __________ era of marketing.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 63

In delivering value,marketing firms attempt to find the most desirable balance between:

A)the need for value and the perception of value.
B)explicit versus implicit value.
C)providing benefits to customers and keeping costs down.
D)the desire to satisfy customers and the need to keep customers from running the company.
E)the need for product improvement and the need for advertising.

Question 64

Yolanda is the new restaurant manager in a major hotel.When considering changes in the restaurant to improve benefits to customers,Yolanda will likely attempt to either provide the same quality at a lower cost or:

A)improve products and services at the same cost.
B)increase prices to increase revenue.
C)offset higher hotel rates with lower restaurant prices.
D)reduce customer expectations through reduced service.
E)any of the above.

Question 65

The prevailing marketing strategy of the ______________ era was to find customers for inventories that went unsold.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 66

During the marketing era:

A)a good product would sell itself.
B)the customer was king.
C)marketing was more important than production.
D)advertising and personal selling were emphasized to make the sale.
E)firms focused on value.

Question 67

During the ____________ era manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

A)production
B)sales
C)marketing
D)value-based marketing
E)all of these

Question 68

The evolution of marketing progressed along the following continuum:

A)sales,marketing,value-based marketing,production
B)marketing,value-based marketing,production,sales
C)value-based marketing,production,sales,marketing
D)production,sales,marketing,value-based marketing
E)sales,value-based marketing,marketing,production

Question 69

The idea that a good product will sell itself is associated with the _______________ era of marketing.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 70

Henry Ford's statement,"Customers can have any color they want so long as it's black," typified the ____________ era of marketing.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 71

Melanie works for a small computer software company.Her boss is constantly improving their products but neglecting customers,billing,and promoting the company.Her boss is probably stuck in the _____________ era of marketing.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 72

During the ____________ era manufacturers and retailers began to focus on what consumers wanted and needed before they designed,made,or attempted to sell their products.

A)production
B)sales
C)marketing
D)value-based marketing
E)all of these

Question 73

Trey sells consumer electronics.He knows his customers weigh the costs versus the benefits associated with the different options available.He decides which products to offer and what prices to charge based on the way his customers think.Trey operates in the _________ marketing era.

A)production
B)sales
C)marketing
D)value-based
E)retailing

Question 74

Near the end of the model year,Move-Them-Out automobile dealership had an unusually high inventory level.The manager increased her advertising spending and gave extra incentives to its salespeople.Move-Them-Out operates as if it were in the __________ era.

A)production
B)sales
C)marketing-oriented
D)value-based
E)retailing

Question 75

The "Got Milk" advertising campaign,designed to increase consumption of milk,was intended to help market a(n):

A)individual.
B)firm.
C)industry.
D)organization.
E)all of these.

Question 76

Which of the following is NOT true about marketing ideas?

A)Opinions,philosophies,intellectual concepts and even thoughts can be effectively marketed.
B)The marketing of ideas does not involve true exchange of value.
C)Ideas can be "purchased" by convincing someone to change his or her behavior.
D)Marketing can be directed toward primary and secondary targets to increase knowledge and change behavior.
E)Value can be created through changing behaviors.

Question 77

Valerie's firm researched what its employees wanted from their jobs.It then communicated a brand image for the firm and worked to ensure that the employees' experiences matched what was advertised.The firm is using:

A)human resources marketing.
B)employee relations mediation.
C)human factors analysis.
D)employment marketing.
E)human asset branding.

Question 78

Joseph is about to graduate near the top of his class and has been looking at some forward-thinking firms.He had expected the job market to be tight,but found that some firms were using employment marketing to attract the candidates they want and need.He noticed these firms used all of the following approaches EXCEPT:

A)using marketing research to understand what future employees want from a position.
B)using advertising agencies to focus creatively on the targeted job seekers.
C)developing an employee-oriented brand image.
D)assuming that the right candidates will learn about the firm and apply for jobs without any encouragement.
E)working to ensure the employment experiences match the candidates' expectations.

Question 79

During the ______________ era,firms had excess capacity and used personal selling and advertising to generate customers.

A)production
B)sales
C)marketing
D)value-based marketing
E)retailing

Question 80

Value is:

A)the lowest cost option.
B)represented by brand names.
C)the highest priced alternative.
D)everyday low prices.
E)what you get for what you give.