Question 1

Which of the following is true about the impact of marketing on stakeholders?

Accepted Answer

A) Marketing is often designed to benefit an entire industry. 
B) Many firms cannot be benefitted simultaneously by marketing. 
C) Most people think of marketing as a way for firms to satisfy customer needs. 
D) Governments do not rely on marketing to communicate their messages to their constituents. 
E) Marketing does not work well in the nonprofit sector.

Question 2

Explain in detail the concept of the marketing mix and explain how your university/college use marketing mix elements to market its offerings.

Accepted Answer

The answer of Explain in detail the concept of the...

Question 3

Innovatives Inc.is a phone manufacturing company that creates phones with unique features and distributes them among retailers.The devices are created with little or no concern about customers' needs and wants.In this case, Innovatives is most likely a:

Accepted Answer

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

Question 4

The sale of a sport-utility vehicle by International Autos to Mariam is called:

Accepted Answer

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

Question 5

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

Accepted Answer

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

Question 6

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it:

Accepted Answer

A) communicates their products' value to customers. 
B) will result in high employee turnover. 
C) will make it easier for them to expand globally. 
D) will help their bottom line in the long run. 
E) enables them to sell goods in large quantities.

Question 7

Which of the following include thoughts, opinions, philosophies, and intellectual concepts that can be marketed?

Accepted Answer

A) Desires 
B) Ideas 
C) Needs 
D) Wants 
E) Exchanges

Question 8

Tangerine Inc.conducts art contests for kindergarteners across many schools.The company encourages parents and siblings to be involved in these contests to encourage and support the participants.Parents and siblings constitute the:

Accepted Answer

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

Question 9

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

Accepted Answer

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

Question 10

A dairy farm sells milk to a company that makes milk-based products and sells it under the brand name Whiteshed.Shania, a loyal customer, always buys Whiteshed cheese.Which of the following impacts of marketing is illustrated in this case?

Accepted Answer

A) New market research 
B) Global expansion of the market 
C) Supply chain management 
D) Turnaround strategies 
E) Limited choice of products

Question 11

Differentiate between companies that have a sales orientation and companies that have a market orientation.

Accepted Answer

The answer of Differentiate between companies that have a sales...

Question 12

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

Accepted Answer

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

Question 13

Which of the following holds true for the term "price"?

Accepted Answer

A) It refers to the tangible customer benefits that are produced by people or machines and can be separated from the producer. 
B) It refers to the intangible customer benefits that are produced by people or machines and cannot be separated from the producer. 
C) It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service. 
D) It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed. 
E) It refers to the value a customer receives through the purchase of a company's product or service.

Question 14

A major sporting goods company distributes its products via retailers.It offers attractive subsidies on its products to encourage retailers to sell higher volumes.Among the four Ps of marketing, this exemplifies the use of:

Accepted Answer

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

Question 15

A chart representing the importance of marketing

-Chronium, a luxury watchmaker, had its products available in its own retail outlets in its home country until five years ago.Now, its products are available in outlets across many countries.Which important aspect of marketing is specifically exemplified in this case?

Accepted Answer

A) Reduction of accessibility 
B) Feedback monitoring 
C) Entrepreneurial stagnancy 
D) Expansion of global presence 
E) Mismanagement across supply chain

Question 16

Explain how social and mobile media have helped the sellers to connect with their customers.

Accepted Answer

The answer of Explain how social and mobile media have...

Question 17

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

Accepted Answer

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

Question 18

Promotion generally can enhance a product or service's value.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

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

Question 20

Mark starts his own company concentrating on producing products that satisfy customers' unfulfilled needs.He thoroughly analyzes the marketplace and develops products based on customers' needs and wants and then communicates the value of his products to potential customers.Which of the following does this scenario exemplify?

Accepted Answer

A) Marketing enriching society 
B) Marketing aiding entrepreneurship 
C) Marketing helping global expansion 
D) Marketing impacting supply chain management 
E) Marketing through social media

Exam 1: Overview of Marketing