Question 1

Disintermediation via the Internet has resulted in ________.

Accepted Answer

A)  higher prices 
B)  stronger brand loyalty 
C)  greater emphasis on personal selling 
D)  well-established brand names 
E)  greater consumer buying power 
A)  higher prices 
B)  stronger brand loyalty 
C)  greater emphasis on personal selling 
D)  well-established brand names 
E)  greater consumer buying power

Question 2

Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries.This is called ________.

Accepted Answer

A)  globalization 
B)  customization 
C)  industry convergence 
D)  disintermediation 
E)  privatization 
A)  globalization 
B)  customization 
C)  industry convergence 
D)  disintermediation 
E)  privatization

Question 3

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 4

Webmax Inc.produced and marketed cameras.After considerable research and development,they developed a new digital camera that had an array of new features.Webmax was so sure about the new offering that they even reduced their marketing budget.What sort of orientation does Webmax have toward the marketplace?

Accepted Answer

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

Question 5

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 6

Identify and define the traditional four Ps.Also identify the new four Ps and the reason for developing the new interpretation.

Accepted Answer

The traditional four Ps are: Product (pr

Question 7

The ultimate outcome of relationship marketing is a unique company asset called the ________,consisting of the company and its supporting stakeholders.

Accepted Answer

A)  brand 
B)  supply chain 
C)  marketing network 
D)  value proposition 
E)  service channel 
A)  brand 
B)  supply chain 
C)  marketing network 
D)  value proposition 
E)  service channel

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Demands are wants for specific products backed by an ability to pay.

Accepted Answer

A) True 
 B)False

Question 10

A(n)________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.

Accepted Answer

A)  secondary 
B)  unstated 
C)  delight 
D)  secret 
E)  stated 
A)  secondary 
B)  unstated 
C)  delight 
D)  secret 
E)  stated

Question 11

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 12

The selling concept holds that consumers will favor those products that offer the most quality,performance,or innovative features.

Accepted Answer

A) True 
 B)False

Question 13

The marketing concept holds that ________.

Accepted Answer

A)  a firm should find the right products for its customers, and not the right customers for its products 
B)  customers who are coaxed into buying a product will most likely buy it again 
C)  a new product will not be successful unless it is priced, distributed, and sold properly 
D)  consumers and businesses, if left alone, won't buy enough of the organization's products 
E)  a better product will by itself lead people to buy it without much effort from the sellers 
A)  a firm should find the right products for its customers, and not the right customers for its products 
B)  customers who are coaxed into buying a product will most likely buy it again 
C)  a new product will not be successful unless it is priced, distributed, and sold properly 
D)  consumers and businesses, if left alone, won't buy enough of the organization's products 
E)  a better product will by itself lead people to buy it without much effort from the sellers

Question 14

When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process,it is an example of ________.

Accepted Answer

A)  deregulation 
B)  reverse auctioning 
C)  reintermediation 
D)  disintermediation 
E)  diversification 
A)  deregulation 
B)  reverse auctioning 
C)  reintermediation 
D)  disintermediation 
E)  diversification

Question 15

The task environment of a firm consists of demographic,economic,natural,and technological environments,as well as the political-legal system and the social-cultural arena.

Accepted Answer

A) True 
 B)False

Question 16

In Walt Disney's Magic Kingdom,customers can visit a fairy kingdom,a pirate ship,or even a haunted house.Disney is marketing a(n)________.

Accepted Answer

A)  experience 
B)  service 
C)  event 
D)  organization 
E)  good 
A)  experience 
B)  service 
C)  event 
D)  organization 
E)  good

Question 17

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 18

In an attempt to create greater competition and growth opportunities,countries often ________.

Accepted Answer

A)  increase trade barriers 
B)  protect industries 
C)  deregulate industries 
D)  encourage intermediation 
E)  reduce privatization 
A)  increase trade barriers 
B)  protect industries 
C)  deregulate industries 
D)  encourage intermediation 
E)  reduce privatization

Question 19

The ________ concept holds that consumers and businesses,if left alone,will ordinarily not buy enough of the organization's products.

Accepted Answer

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

Question 20

When companies measure the number of people who are willing and able to buy their products,they are measuring ________.

Accepted Answer

A)  demand 
B)  price elasticity 
C)  real needs 
D)  standard of living 
E)  disposable income 
A)  demand 
B)  price elasticity 
C)  real needs 
D)  standard of living 
E)  disposable income

Disintermediation via the Internet has resulted in ________.

Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries.This is called ________.

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

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

Identify and define the traditional four Ps.Also identify the new four Ps and the reason for developing the new interpretation.

The ultimate outcome of relationship marketing is a unique company asset called the ________,consisting of the company and its supporting stakeholders.

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

Demands are wants for specific products backed by an ability to pay.

A(n)________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.

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.

The selling concept holds that consumers will favor those products that offer the most quality,performance,or innovative features.

The marketing concept holds that ________.

When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process,it is an example of ________.

The task environment of a firm consists of demographic,economic,natural,and technological environments,as well as the political-legal system and the social-cultural arena.

In Walt Disney's Magic Kingdom,customers can visit a fairy kingdom,a pirate ship,or even a haunted house.Disney is marketing a(n)________.

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

In an attempt to create greater competition and growth opportunities,countries often ________.

The ________ concept holds that consumers and businesses,if left alone,will ordinarily not buy enough of the organization's products.

When companies measure the number of people who are willing and able to buy their products,they are measuring ________.

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

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

Managing Marketing in the Global Economy

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Exam 1: Defining Marketing for the 21st Century

Disintermediation via the Internet has resulted in ________.

Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries.This is called ________.

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

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

Identify and define the traditional four Ps.Also identify the new four Ps and the reason for developing the new interpretation.

The ultimate outcome of relationship marketing is a unique company asset called the ________,consisting of the company and its supporting stakeholders.

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

Demands are wants for specific products backed by an ability to pay.

A(n)________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.

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.

The selling concept holds that consumers will favor those products that offer the most quality,performance,or innovative features.

The marketing concept holds that ________.

When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process,it is an example of ________.

The task environment of a firm consists of demographic,economic,natural,and technological environments,as well as the political-legal system and the social-cultural arena.

In Walt Disney's Magic Kingdom,customers can visit a fairy kingdom,a pirate ship,or even a haunted house.Disney is marketing a(n)________.

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

In an attempt to create greater competition and growth opportunities,countries often ________.

The ________ concept holds that consumers and businesses,if left alone,will ordinarily not buy enough of the organization's products.

When companies measure the number of people who are willing and able to buy their products,they are measuring ________.

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

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

Managing Marketing in the Global Economy

Filters