Deck 1: Why Marketing Matters to You

Question 1

Which of the following would be considered a member of a supply chain?

A)shipping companies
B)retailers
C)wholesalers
D)manufacturers
E)customers

Answer 1

E

Question 2

On a personal level,as you begin looking for a job after you graduate,it will be critical for you to know how to

A)forecast value.
B)explain value.
C)communicate value.
D)market value.
E)deliver valuE.

Answer 2

C

Question 3

Which marketing strategy was especially important during the Great Depression when consumers did not have much money and firms competed intensely for their dollars?

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

Answer 3

E

Question 4

Which of the following accurately depicts the stages in the evolution of marketing?

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

Question 5

After listening to customer requests for travel routes to the Northwest,Southwest Airlines has added cross-country routes to both Seattle and Portland.By providing its customers with benefits that meet their needs,Southwest is providing

A)benefit marketing.
B)customer service.
C)benefit segmentation.
D)customer value.
E)a marketing mix.

Question 6

According to your text,what is the secret of great marketing when it comes to creating value?

A)convincing customers that they need a product even if they do not
B)saturating the market with all forms of advertising promotions
C)consistently creating new products for the marketplace
D)figuring out how to charge the highest price for a product that customers are willing to pay
E)understanding the marketplace demands before competitors do

Question 7

The process of planning,implementing,and controlling the flow of goods,services,and information between the point of origin and the point of consumption in order to meet customer requirements is called

A)marketing.
B)production.
C)operations.
D)the supply chain.
E)logistics.

Question 8

Marketers define customer value as

A)providing a product or a service to a customer such that he or she will purchase that same product or service again in the future.
B)being able to sell products that generate little to no customer returns or complaints.
C)the perceived benefits,both monetary and nonmonetary,that customers receive from a product compared with the cost associated with obtaining it.
D)the ability to provide a product at the lowest possible price after covering all production expenses.
E)selling a product regardless of whether or not it meets a customer's needs and/or wants.

Question 9

A marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs was referred to as the

A)sales orientation erA.
B)production orientation era.
C)customer orientation era.
D)relationship marketing era.
E)marketing concept era.

Question 10

As it relates to customers,the aim of marketing is to

A)provide customers with value.
B)increase profits by ensuring customers pay the highest price possible for a product.
C)accurately and truthfully advertise the product.
D)generate repeat sales from each and every customer.
E)reduce the number of customer complaints.

Question 11

Which era in the history of marketing began in the early years of the United States and lasted until the mid-1920s when the growth in production outpaced consumer demand?

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

Question 12

American Clothing Company manufactures clothes to be sold in retail stores.After the clothing is manufactured,it is shipped to wholesalers who,in turn,use transportation companies to ship the product to various retail outlets.The manufacturer,wholesaler,transportation company,and retailer all work together to create and deliver the product.This is an example of

A)marketing value.
B)delivering value.
C)creating value.
D)forecasting value.
E)communicating valuE.

Question 13

The Fantastically Fit health club has just opened a new location in your neighborhood.The club has mailed a flyer to all households in the area that contains information about the club and a coupon for a one-month free membership.In doing so,Fantastically Fit is attempting to

A)communicate value.
B)forecast value.
C)explain value.
D)market value.
E)deliver valuE.

Question 14

The set of multiple companies directly linked by one or more of the upstream and downstream flows of products,services,finances,and information from a source to a consumer is referred to as

A)the production cycle.
B)the supply chain.
C)logistics.
D)the marketing chain.
E)marketing.

Question 15

Having an efficient supply chain is directly related to which element of value?

A)marketing value
B)creating value
C)communicating value
D)forecasting value
E)delivering value

Question 16

Marketing is defined as

A)any activity used to advertise and promote a product or service.
B)the set of activities needed to produce and deliver a product that produces the highest return on investment.
C)the process of managing the supply chain to ensure that products are delivered where and when customers want them.
D)the process of creating,communicating,and delivering value to customers and managing those relationships in ways that benefit the organization and its employees,customers,investors,and society as a whole.
E)the process of targeting and selecting a group of consumers or organizational buyers in order to promote a product or servicE.

Question 17

What is the key to creating value?

A)accurately advertising a product
B)providing consumers with benefits that meet their needs and wants
C)being the first to create a new product or service
D)convincing consumers that they need a product,even if they do not perceive that they do
E)making sure that products are priced lower than the competition

Question 18

What percentage of new products fail in the marketplace?

A)5 to 10 percent
B)less than 3 percent
C)approximately 25 percent
D)over 80 percent
E)50 percent

Question 19

During what stage in the evolution of marketing did firms believe that quality products would sell themselves?

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

Question 20

The perceived benefits,both monetary and nonmonetary,that customers receive from a product compared with the cost associated with obtaining it is referred to as

A)benefit segmentation.
B)a marketing exchange.
C)the marketing mix.
D)relationship marketing.
E)customer valuE.

Question 21

Which of the following products does not satisfy a consumer need?

A)groceries
B)a winter coat
C)a house
D)a home security system
E)cable television

Question 22

Compare the following statements to determine which one best reflects the thinking behind the sales orientation era of marketing?

A)Our products are of such great quality,they practically sell themselves.
B)It's time we develop a strategy to attract and maintain more customers.
C)Our entire company needs to be focused on satisfying our customers' needs.
D)We need to find more efficient means of creating quality products.
E)We'd better persuade our customers to buy our products or they will buy from our competitors.

Question 23

Daphne used to work in the city where she would take public transportation to work.However,she just took a new job in the suburbs and now not only has to find a place to live,but also has to buy a car to get to and from her job.For Daphne,these things represent

A)a need.
B)a dilemma.
C)a want.
D)a desire.
E)a craving.

Question 24

What is the premise behind the marketing concept?

A)a focus on satisfying the needs of the customer
B)an interest in streamlining production processes
C)utilizing all aspects of marketing to persuade consumers to buy
D)focusing on keeping the company stakeholders satisfied
E)a company-wide focus on increasing profits

Question 25

Which era in the history of marketing continued until the end of World War II?

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

Question 26

Compare the following statements regarding relationship marketing to determine which is most accurate?

A)Relationship marketing is best described as the use of personal selling to persuade consumers to buy products.
B)Relationship marketing has waned as a viable strategy with the advent of the Internet.
C)Relationship marketing is most successful when firms focus on attracting,maintaining,and enhancing customer relationships.
D)Very few companies in today's marketplace are engaged in relationship marketing.
E)Relationship marketing focuses on satisfying the needs of all the company stakeholders.

Question 27

What era in the history of marketing best reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs?

A)customer orientation
B)production orientation
C)sales orientation
D)marketing concept

Question 28

In marketing terms,what is a person looking to satisfy if he or she feels deprived of basic necessities such as food,clothing,shelter,transportation,or safety?

A)a dilemma
B)a desire
C)a need
D)a want
E)a craving

Question 29

Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities.In an effort to stave off competition,the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance,as well as send them articles that pertain to their favorite activities.In addition,Outdoor Adventures has added a section to its website where customers can post pictures of themselves using the store's gear.These efforts illustrate how the firm is engaged in

A)personal selling.
B)societal marketing.
C)a sales orientation.
D)logistics.
E)relationship marketing.

Question 30

Wants are the form that human needs take and are shaped by

A)culture,money,and geography.
B)lifestyle,demographics,and economic conditions.
C)money,desire,and ability.
D)personality,culture,and buying situation.
E)time,money,and expensE.

Question 31

Which of the following trends is accurate regarding the future of marketing?

A)With the advent of technology,the basic goal of marketing has changed from how to create,communicate,and deliver value to consumers to how to better segment and target consumer markets.
B)As technology impacts the business world,firms will need to explore new models that address what customers want and how they prefer to receive information.
C)Even though newspaper circulation has decreased in recent years,it is still the preferred way to advertise because of its low cost.
D)The number of cable television subscribers has increased in recent years,signaling to marketers that television advertising is still the preferred choice for marketing products.
E)Posting news and information online in social media sites has not proven to be as successful as marketers thought since consumers often doubt the accuracy of the information posted.

Question 32

According to your text,what is the most basic concept in marketing?

A)streamlining production costs to generate maximum profits
B)satisfying the needs of stakeholders
C)getting all members of an organization to agree on a marketing plan
D)determining the best advertising outlet for a product
E)determining the difference between consumer needs and wants

Question 33

The focus of the marketing concept era was on

A)production.
B)technology.
C)customers.
D)competition.
E)sales.

Question 34

In marketing,states of felt deprivation are referred to as

A)opportunities.
B)wants.
C)needs.
D)desires.
E)cravings.

Question 35

The activity of buyers and sellers trading things of value so that each is better off as a result is referred to as

A)a marketing interchange.
B)bartering.
C)personal selling.
D)merchandising.
E)an exchangE.

Question 36

The marketing concept began to emerge in the

A)1990s.
B)1920s.
C)1970s.
D)1930s.
E)1950s.

Question 37

What type of human need is shaped by personality,culture,or buying situation?

A)a craving
B)an emergency
C)a demand
D)a want
E)a necessity

Question 38

In marketing,an exchange refers to

A)buyers and sellers trading things of value so that each is better off as a result.
B)replacing a noneffective form of advertising for a more effective one.
C)two people bartering products and services for other products and services.
D)the money paid by a consumer for a product or service.
E)updating or replacing a nonprofitable product in hopes of generating more revenuE.

Question 39

An advertisement shows a group of boys playing soccer on a hot day.When they take a break,the boys runs to a cooler to find something to quench their thirst.Inside the cooler are water bottles,cans of soda,fruit juices,and Gatorade.Immediately,the boys fight over the Gatorade showing that it is clearly the best choice.In this ad,liquid refreshment represents a _____,and Gatorade represents a _____.

A)craving;preference
B)want;need
C)craving;need
D)need;want
E)want;preference

Question 40

A local family is advertising a 5K run to raise awareness for autism since one of their children suffers from the disorder.Salina likes to run,so she decides to pay the fee to participate in the event.Afterward,she is pleased that she went and felt good about helping out the family.Would this be considered a marketing exchange?

A)no,because the consumer needs of Salina were not met
B)yes,because participating in the run was exchanged for Salina's feeling of satisfaction for helping the family
C)no,because Salina did not receive anything for participating in the event
D)yes,because the family had to pay for advertising and therefore was engaged in marketing
E)no,because the event involved a service but not a good

Question 41

The practice of measuring,managing,and analyzing market performance is referred to as

A)logistics.
B)the marketing concept.
C)marketing analytics.
D)global marketing.
E)supply chain management.

Question 42

Which of the following questions relates to the place element of the marketing mix?

A)Do I need to hire salespeople?=
B)How long has my product existed?
C)How do I want the public to view my product?
D)How much inventory should I have?
E)Should I offer customers a discount?

Question 43

The combination of activities that represent everything a firm can do to influence demand for its good,service,or idea is referred to as the marketing

A)plan.
B)model.
C)mix.
D)concept.
E)matrix.

Question 44

The name,term,symbol,design,or any combination of these that identifies and differentiates a firm's products is known as its

A)trademark.
B)logo.
C)patent.
D)branD.
E)identifier.

Question 45

According to your text,any discussion of the marketing mix typically begins with which of the four Ps?

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

Question 46

Which of the following accurately represents the 4 Ps of the marketing mix?

A)promotion,place,profit,and preference
B)production,promotion,profit,and participation
C)product,price,place,and promotion
D)perception,preference,participation,and payment
E)product,price,promotion,and perception

Question 47

Which marketing mix element describes what a buyer exchanges with a seller?

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

Question 48

What role,if any,did marketing play in the U.S.housing crisis that began in December 2007?

A)Marketers acted unethically by only advertising bank loan rates in certain areas of the country.
B)The housing crisis was triggered by marketers who took consumers' basic need for a house and encouraged their want to buy a house that was more than they could afford.
C)Marketers did not play a role in the housing crisis,as the problem was between consumers seeking housing loans and the lenders who granted the loans.
D)Marketers did not play a role in the housing crisis because,in the end,consumers are ultimately responsible for the products they purchase.
E)Marketers were responsible for not notifying the public that a crisis was looming.

Question 49

What type of marketing strategy is a company using if it consciously addresses customers,markets,and competition throughout the world?

A)an international trade agreement
B)a domestic market strategy
C)a global marketing strategy
D)a foreign investment agreement
E)an import/export strategy

Question 50

The group of Internet-based applications that allow the creation and exchange of user-generated content is called

A)online applications.
B)web media.
C)social media.
D)network marketing.
E)Internet marketing.

Question 51

The owners of Have It Your Way Hot Dogs have decided to place an advertisement in the local minor league baseball team's program booklet.Which element of the marketing mix does this represent?

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

Question 52

Which marketing mix element is typically the easiest to change?

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

Question 53

Which marketing mix element involves decisions regarding logistics and managing the supply chain?

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

Question 54

The four Ps are more formally referred to as the marketing

A)matrix.
B)framework.
C)mix.
D)concept.
E)dimensions.

Question 55

All of the following are elements contained in the 4 Ps of the marketing mix expect

A)product.
B)place.
C)price.
D)profit.
E)promotion.

Question 56

Compare the following statements to determine which one accurately describes the impact NAFTA has had on U.S.farmers.

A)Because of the negative view of NAFTA in other countries,U.S.farmers have found a difficult time getting their products shipped into those countries.
B)Even though farmers can now ship and sell their products to other countries,the fees imposed for doing so have not allowed farmers to generate any profit.
C)Because they have been able to ship and sell their produce to other countries,NAFTA has given farmers the opportunity to expand their business and increase profits.
D)Because of the heavy regulations imposed on exports,farmers have avoided exporting goods to participating NAFTA countries.
E)Even though NAFTA has relaxed trade restrictions,farmers have been reluctant to ship products into other countries for fear of improper storage and/or contamination of their product.

Question 57

NAFTA is an international trade agreement between the United States

A)Canada,and Mexico.
B)India,and China.
C)China,and Japan.
D)and Brazil.
E)and Great Britain.

Question 58

Tony the Tiger and the slogan They're Great are elements that help to identify Kellogg's _______ from that of its competitors

A)trademark
B)patent
C)brand
D)logo
E)style

Question 59

What term is used to describe the increasingly interconnected nature of the world economy?

A)the World Wide Web
B)internationalization
C)relationship marketing
D)the marketing mix
E)globalization

Question 60

A new ice cream shop in town allows customers to create their own sundaes using various flavors of ice cream and toppings.The store owners have decided to have a contest for the most unique customer creation.They are asking customers to create a sundae,take a picture of their creation,and post it on their Facebook page as well as on Instagram so people can vote for their favorite.The winning creation will be featured on the shop's menu.This use of social media relates to which element of the marketing mix?

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

Question 61

The linked set of companies that perform or support the delivery of a company's products to customers is referred to as the ______ ______.

Question 62

Think about the ethical values set forth in AMA's Code of Ethics.Which value is represented when a firm accepts constructive criticism from customers and other stakeholders?

A)transparency
B)honesty
C)respect
D)fairness
E)responsibility

Question 63

Customer ______ refers to the perceived benefits,both monetary and nonmonetary,that customers receive from a product compared with the cost associated with obtaining it.

Question 64

Your text defines ethics as moral standards expected by

A)consumers.
B)a society.
C)an organization.
D)employees.
E)the AMA.

Question 65

Firms with a ________ orientation believed that quality products would simply sell themselves.

Question 66

What step in the ethical decision-making framework is sometimes referred to as seeing through a problem to the other side?

A)Identify the ethical issue at hand.
B)Make the decision.
C)Discuss the pending decision with the stakeholders.
D)Consider how the decision will affect the stakeholders.
E)Consider all available alternatives.

Question 67

When marketers evaluate whether a marketing campaign was successful by using metrics to measure performance,they are engaged in

A)marketing analytics.
B)brand management.
C)global marketing.
D)corporate social responsibility.
E)logistics.

Question 68

______is the process of coordinating the flow of goods,information,and services among members of the supply chain.

Question 69

Which of the following is not one of the ethical norms spelled out in the AMA's Code of Ethics?

A)citizenship
B)honesty
C)balance
D)transparency
E)fairness

Question 70

Which of the following questions would a firm ask if it were using the ethical decision-making framework regarding its product?

A)Does the advertising message represent the product's benefits honestly?
B)Are the relationships between wholesalers and retailers inappropriate?
C)Should the firm increase prices due to a lack of local competition?
D)Does the advertising message attack competing products rather than highlight the benefits of the firm's product?
E)What default privacy settings should be built into a website?

Question 71

According to your text,taking a marketing course can help your career in all of the following ways

A)helping you market yourself to get a job after college.
B)helping you communicate your value so that you get an interview.
C)helping you determine what career field you should enter.
D)helping you reach professional goals.
E)helping you position yourself relative to others competing for the same job.

Question 72

In ethical decision making,what element of the marketing mix is affected when a firm is deciding whether or not to outsource jobs to other members of the supply chain?

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

Question 73

The ______ orientation era started in the mid-1920s and continued until the end of World War II.

Question 74

Regardless of whether economic conditions are favorable or unfavorable,over _______ percent of products introduced in the marketplace will fail.

Question 75

How many steps are there in the ethical decision-making framework?

A)five
B)six
C)seven
D)eight
E)ten

Question 76

What is the first step in the ethical decision-making framework?

A)Identify the stakeholders impacted by the decision.
B)Determine the facts in an unbiased manner.
C)Discuss the issue with the stakeholders.
D)Consider how the issue will affect the stakeholders.
E)Identify the ethical issue at hand.

Question 77

Compare the following statements to determine which one is accurate regarding marketing analytics.

A)Marketing analytics has not proven to be helpful in the allocation of resources.
B)The pressure to be more data driven has played a large role in the growing use of marketing analytics.
C)Marketing analytics is useful for analyzing the performance of products,but not for analyzing the performance of services or ideas.
D)Budgets related to marketing analytics are expected to decline in the coming years.
E)The advent of the Internet has reduced the need for marketers to engage in marketing analytics.

Question 78

As noted in your text,what was the result when some of the world's most ethical companies were compared with the MSCI ACWI Index on a profitability measure?

A)The firms that were identified as ethical outperformed the mix of companies included in the MSCI ACWI Index through both positive and negative economic circumstances.
B)The firms that were identified as ethical were not as profitable initially,but then showed a pattern of unprecedented profit increase when compared with the mix of companies included in the MSCI ACWI Index.
C)The firms that were identified as ethical were more profitable initially,but then showed a pattern of declining profitability compared with the mix of companies included in the MSCI ACWI Index.
D)The firms that were identified as ethical were equally profitable on the whole to the mix of companies included in the MSCI ACWI Index.
E)The firms that were identified as ethical were significantly less profitable on the whole than the mix of companies included in the MSCI ACWI Index.

Question 79

What impact can a successful marketing campaign have on nonprofit organizations?

A)It can allow nonprofit organizations to receive tax breaks from the government.
B)It can help to increase revenue and profits for the firm.
C)It can help nonprofit organizations achieve a for-profit status.
D)It would have no impact since nonprofit organizations do not require marketing campaigns.
E)It can help nonprofit organizations attract members and raise much-needed funds.

Question 80

The organizational function and set of processes for creating,communicating,and delivering value to customers and managing customer relationships in ways that benefit the organization and its employees,customers,investors,and society as a whole is referred to as __________.