Question 1

Properties are tangible rights of ownership to either real property (real estate) or financial property (stocks and bonds).

Accepted Answer

A) True 
 B)False

Question 2

Sheth and Sisodia say accessibility is ripest for improvement because most companies are either ineffectual or inefficient at developing it.

Accepted Answer

A) True 
 B)False

Question 3

The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.

Accepted Answer

A)  supply chain 
B)  global market 
C)  value proposition 
D)  competition 
E)  marketing environment 
A)  supply chain 
B)  global market 
C)  value proposition 
D)  competition 
E)  marketing environment

Question 4

Wants are basic human requirements, such as food and shelter.

Accepted Answer

A) True 
 B)False

Question 5

The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.

Accepted Answer

A)  segmentation 
B)  integration 
C)  disintermediation 
D)  cross-selling 
E)  customization 
A)  segmentation 
B)  integration 
C)  disintermediation 
D)  cross-selling 
E)  customization

Question 6

"Friends Don't Let Friends Drive Drunk," is an example of marketing information to an interested audience.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

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

Question 8

________ marketing is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.

Accepted Answer

A)  Niche 
B)  Holistic 
C)  Relationship 
D)  Supply chain 
E)  Demand-centered 
A)  Niche 
B)  Holistic 
C)  Relationship 
D)  Supply chain 
E)  Demand-centered

Question 9

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand.

Accepted Answer

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

Question 10

Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.

Accepted Answer

A) True 
 B)False

Question 11

Performance marketing requires understanding the financial and non-financial returns to business and society from marketing activities and programs.

Accepted Answer

A) True 
 B)False

Question 12

The selling concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.

Accepted Answer

A) True 
 B)False

Question 13

________ combined with affordability determines the product's value proposition.

Accepted Answer

A)  Acceptability 
B)  Affluence 
C)  Affability 
D)  Accessibility 
E)  Awareness 
A)  Acceptability 
B)  Affluence 
C)  Affability 
D)  Accessibility 
E)  Awareness

Question 14

Advertising is the most important element in business marketing.

Accepted Answer

A) True 
 B)False

Question 15

The customer value triad consists of a combination of quality, durability, and price.

Accepted Answer

A) True 
 B)False

Question 16

Chipotle engages customers through Facebook, Twitter, and other social media via its grassroots "Food with Integrity" digital strategy, which puts the focus on what it sells and where it comes from. These are examples of ________ media.

Accepted Answer

A)  owned 
B)  earned 
C)  paid 
D)  service 
E)  marketing 
A)  owned 
B)  earned 
C)  paid 
D)  service 
E)  marketing

Question 17

Ford Motor Company knows that to reach its target markets three kinds of marketing channels may be used. What are these three marketing channels and how might Ford use each of them?

Accepted Answer

The three marketing channels are communi

Question 18

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

Accepted Answer

A)  Durable 
B)  Impulse 
C)  Physical 
D)  Luxury 
E)  Intangible 
A)  Durable 
B)  Impulse 
C)  Physical 
D)  Luxury 
E)  Intangible

Question 19

Selling is not the most important part of marketing. Explain why not.

Accepted Answer

According to Peter Drucker, "There will

Question 20

Which of the following is most consistent with the integrated marketing approach?

Accepted Answer

A)  A good product will sell itself. 
B)  If left alone, consumers are inclined to purchase only inexpensive products. 
C)  All communication to consumers must deliver a consistent message irrespective of the medium. 
D)  In order to succeed, the main focus should be on having an efficient production process in place. 
E)  Online marketing is less important than traditional marketing efforts. 
A)  A good product will sell itself. 
B)  If left alone, consumers are inclined to purchase only inexpensive products. 
C)  All communication to consumers must deliver a consistent message irrespective of the medium. 
D)  In order to succeed, the main focus should be on having an efficient production process in place. 
E)  Online marketing is less important than traditional marketing efforts.

Exam 1: Defining Marketing for the New Realities

Properties are tangible rights of ownership to either real property (real estate) or financial property (stocks and bonds).

Sheth and Sisodia say accessibility is ripest for improvement because most companies are either ineffectual or inefficient at developing it.

The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.

Wants are basic human requirements, such as food and shelter.

The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.

"Friends Don't Let Friends Drive Drunk," is an example of marketing information to an interested audience.

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

________ marketing is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand.

Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.

Performance marketing requires understanding the financial and non-financial returns to business and society from marketing activities and programs.

The selling concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.

________ combined with affordability determines the product's value proposition.

Advertising is the most important element in business marketing.

The customer value triad consists of a combination of quality, durability, and price.

Chipotle engages customers through Facebook, Twitter, and other social media via its grassroots "Food with Integrity" digital strategy, which puts the focus on what it sells and where it comes from. These are examples of ________ media.

Ford Motor Company knows that to reach its target markets three kinds of marketing channels may be used. What are these three marketing channels and how might Ford use each of them?

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

Selling is not the most important part of marketing. Explain why not.

Which of the following is most consistent with the integrated marketing approach?

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

Filters