Question 1

Car rental firms, hair dressers, and management consultants provide ________.

Accepted Answer

A)  goods 
B)  experiences 
C)  events 
D)  services 
E)  information 
A)  goods 
B)  experiences 
C)  events 
D)  services 
E)  information

Question 2

Tracy's is a chain of hair dressing salons for women. They use television, magazines, radio, and newspapers to advertise their services. The owners ensure that all communication channels deliver a common message to prospective customers. Tracy's believes in ________ marketing.

Accepted Answer

A)  internal 
B)  integrated 
C)  socially responsible 
D)  global 
E)  relationship 
A)  internal 
B)  integrated 
C)  socially responsible 
D)  global 
E)  relationship

Question 3

At the heart of any marketing program is the firm's ________, its tangible offering to the market.

Accepted Answer

A)  strategy 
B)  product 
C)  brand 
D)  value 
E)  people 
A)  strategy 
B)  product 
C)  brand 
D)  value 
E)  people

Question 4

The competing concepts under which organizations have conducted marketing activities include: the production concept, product concept, selling concept, marketing concept, and holistic marketing concept. Evaluate the advantages and disadvantages of each concept. Which concept do you believe is the most effective? Why?

Accepted Answer

Although students may be expected to res

Question 5

When demand is ________, it implies that more customers would like to buy the product than can be satisfied.

Accepted Answer

A)  latent 
B)  irregular 
C)  overfull 
D)  full 
E)  negative 
A)  latent 
B)  irregular 
C)  overfull 
D)  full 
E)  negative

Question 6

Attracting a new customer costs far more than retaining an existing one.

Accepted Answer

A) True 
 B)False

Question 7

Identify and briefly describe each of the four As. What distinctive roles are they based on? Which role is missing? Why does it matter?

Accepted Answer

• Acceptability is the extent to which a

Question 8

Contrary to popular belief, marketers do not create needs.

Accepted Answer

A) True 
 B)False

Question 9

Financial accountability and social responsibility marketing are elements of ________ marketing.

Accepted Answer

A)  performance 
B)  relationship 
C)  internal 
D)  social 
E)  mass 
A)  performance 
B)  relationship 
C)  internal 
D)  social 
E)  mass

Question 10

The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.

Accepted Answer

A)  product 
B)  marketing 
C)  production 
D)  selling 
E)  holistic marketing 
A)  product 
B)  marketing 
C)  production 
D)  selling 
E)  holistic marketing

Question 11

Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.

Accepted Answer

A)  the product concept 
B)  the production concept 
C)  the selling concept 
D)  the marketing concept 
E)  the holistic marketing concept 
A)  the product concept 
B)  the production concept 
C)  the selling concept 
D)  the marketing concept 
E)  the holistic marketing concept

Question 12

A social definition of marketing says ________.

Accepted Answer

A)  effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers 
B)  a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products 
C)  marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others 
D)  marketing is the process of extracting the maximum value from consumers to facilitate corporate growth 
E)  marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer 
A)  effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers 
B)  a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products 
C)  marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others 
D)  marketing is the process of extracting the maximum value from consumers to facilitate corporate growth 
E)  marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer

Question 13

Performance marketing involves reviewing metrics assessing market share, customer loss rate, customer satisfaction, and product quality in the evaluation of the effectiveness of marketing activities.

Accepted Answer

A) True 
 B)False

Question 14

Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries.

Accepted Answer

A) True 
 B)False

Question 15

Sales of woolen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.

Accepted Answer

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

Question 16

Unwholesome demand occurs when consumers' purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.

Accepted Answer

A) True 
 B)False

Question 17

Consumers often have many needs that are not readily obvious. Just observing their behavior inside a retail store is not enough to get a true understanding of their "needs." List and briefly describe the five types of needs that most consumers have.

Accepted Answer

Suppose a customer wants to buy a car. T

Question 18

Which of the following statements about marketing is true?

Accepted Answer

A)  It is of little importance when products are standardized. 
B)  It can help create jobs in the economy by increasing demand for goods and services. 
C)  It helps to build a loyal customer base but has no impact on a firm's intangible assets. 
D)  It is more important for bigger organizations than smaller ones. 
E)  It is seldom used by nonprofit organizations. 
A)  It is of little importance when products are standardized. 
B)  It can help create jobs in the economy by increasing demand for goods and services. 
C)  It helps to build a loyal customer base but has no impact on a firm's intangible assets. 
D)  It is more important for bigger organizations than smaller ones. 
E)  It is seldom used by nonprofit organizations.

Question 19

Discuss the eight demand states with respect to bifocal lenses for glasses.

Accepted Answer

The eight demand states for bifocal lens

Question 20

The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.

Accepted Answer

A)  disintermediation 
B)  diversification 
C)  reduced competition 
D)  deregulation 
E)  privatization 
A)  disintermediation 
B)  diversification 
C)  reduced competition 
D)  deregulation 
E)  privatization

Exam 1: Defining Marketing for the New Realities

Car rental firms, hair dressers, and management consultants provide ________.

Tracy's is a chain of hair dressing salons for women. They use television, magazines, radio, and newspapers to advertise their services. The owners ensure that all communication channels deliver a common message to prospective customers. Tracy's believes in ________ marketing.

At the heart of any marketing program is the firm's ________, its tangible offering to the market.

When demand is ________, it implies that more customers would like to buy the product than can be satisfied.

Attracting a new customer costs far more than retaining an existing one.

Identify and briefly describe each of the four As. What distinctive roles are they based on? Which role is missing? Why does it matter?

Contrary to popular belief, marketers do not create needs.

Financial accountability and social responsibility marketing are elements of ________ marketing.

The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.

Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.

A social definition of marketing says ________.

Performance marketing involves reviewing metrics assessing market share, customer loss rate, customer satisfaction, and product quality in the evaluation of the effectiveness of marketing activities.

Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries.

Sales of woolen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.

Unwholesome demand occurs when consumers' purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.

Consumers often have many needs that are not readily obvious. Just observing their behavior inside a retail store is not enough to get a true understanding of their "needs." List and briefly describe the five types of needs that most consumers have.

Which of the following statements about marketing is true?

Discuss the eight demand states with respect to bifocal lenses for glasses.

The success of online purchasing resulted in ________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.

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

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