Question 1

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________.

Accepted Answer

A)  target markets 
B)  capital markets 
C)  tertiary markets 
D)  demographic markets 
E)  developing markets 
A)  target markets 
B)  capital markets 
C)  tertiary markets 
D)  demographic markets 
E)  developing markets

Question 2

The ________ is the channel stretching from raw materials to components to final products that are carried to final buyers.

Accepted Answer

A)  communication channel 
B)  distribution channel 
C)  supply chain 
D)  service chain 
E)  marketing chain 
A)  communication channel 
B)  distribution channel 
C)  supply chain 
D)  service chain 
E)  marketing chain

Question 3

The marketing-mix component called "people" reflects all the creativity, discipline, and structure brought to marketing management.

Accepted Answer

A) True 
 B)False

Question 4

Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty.

Accepted Answer

The student should demonstrate his or he

Question 5

________ 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 6

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 7

Companies selling their goods to nonprofit organizations often charge a premium over their normal prices because these organizations are largely indifferent to price.

Accepted Answer

A) True 
 B)False

Question 8

Financial accountability and social responsibility marketing are elements of ________.

Accepted Answer

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

Question 9

The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.

Accepted Answer

A)  event 
B)  property 
C)  service 
D)  place 
E)  idea 
A)  event 
B)  property 
C)  service 
D)  place 
E)  idea

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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 12

Tracy's is a chain of hair dressing salons for women. They use the 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 ________.

Accepted Answer

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

Question 13

A firm's tangible offering to the market includes product quality, design, features, and packaging.

Accepted Answer

A) True 
 B)False

Question 14

Distinguish between the concepts of value and satisfaction.

Accepted Answer

The offering will be successful if it de

Question 15

Companies can facilitate and speed external communication among customers by creating online and off-line "buzz" through brand advocates and user communities.

Accepted Answer

A) True 
 B)False

Question 16

Discuss the concept of disintermediation and provide an example.

Accepted Answer

Disintermediation grew out of the rush t

Question 17

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 18

Contrary to popular belief, marketers do not create needs.

Accepted Answer

A) True 
 B)False

Question 19

Automobile manufacturers, new car and used car dealers, financing companies, and insurance companies are all part of the automobile ________.

Accepted Answer

A)  marketplace 
B)  marketspace 
C)  metamediary 
D)  marketportal 
E)  metamarket 
A)  marketplace 
B)  marketspace 
C)  metamediary 
D)  marketportal 
E)  metamarket

Question 20

What are the four broad components of holistic marketing?

Accepted Answer

A)  relationship, internal, position, and performance marketing 
B)  integrated, internal, position, and performance marketing 
C)  relationship, integrated, internal, and performance marketing 
D)  integrated, relationship, social responsibility, and position marketing 
E)  relationship, social responsibility, internal, and performance marketing 
A)  relationship, internal, position, and performance marketing 
B)  integrated, internal, position, and performance marketing 
C)  relationship, integrated, internal, and performance marketing 
D)  integrated, relationship, social responsibility, and position marketing 
E)  relationship, social responsibility, internal, and performance marketing

Exam 1: Defining Marketing for the 21st Century

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________.

The ________ is the channel stretching from raw materials to components to final products that are carried to final buyers.

The marketing-mix component called "people" reflects all the creativity, discipline, and structure brought to marketing management.

Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty.

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

A social definition of marketing says ________.

Companies selling their goods to nonprofit organizations often charge a premium over their normal prices because these organizations are largely indifferent to price.

Financial accountability and social responsibility marketing are elements of ________.

The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.

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

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

Tracy's is a chain of hair dressing salons for women. They use the 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 ________.

A firm's tangible offering to the market includes product quality, design, features, and packaging.

Distinguish between the concepts of value and satisfaction.

Companies can facilitate and speed external communication among customers by creating online and off-line "buzz" through brand advocates and user communities.

Discuss the concept of disintermediation and provide an example.

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

Contrary to popular belief, marketers do not create needs.

Automobile manufacturers, new car and used car dealers, financing companies, and insurance companies are all part of the automobile ________.

What are the four broad components of holistic marketing?

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

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 Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

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