Question 1

Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.

Accepted Answer

A) True 
 B)False

Question 2

The marketing era is defined by a shift in focus from products and sales to satisfying a consumer's needs.

Accepted Answer

A) True 
 B)False

Question 3

Availability of goods and services at convenient locations creates:

Accepted Answer

A)  form utility. 
B)  time utility. 
C)  place utility. 
D)  ownership utility. 
A)  form utility. 
B)  time utility. 
C)  place utility. 
D)  ownership utility.

Question 4

"Word-of-mouth" advertising that has grown in effectiveness with the advent of the Internet is called _____.

Accepted Answer

A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing 
A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing

Question 5

According to relationship marketing,firms must apply higher standards of customer satisfaction to external customer relationships over intradepartmental relationships.

Accepted Answer

A) True 
 B)False

Question 6

A firm with a fully developed marketing concept is one with a company-wide consumer orientation with the objective of achieving long-term success.

Accepted Answer

A) True 
 B)False

Question 7

It can be said that Glen Inc.,a woolen products manufacturing company based in Switzerland,is a firm that uses a market-driven strategy because it produces goods based on local customers' experiences,needs,and preferences.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is true of relationship marketing?

Accepted Answer

A)  It focuses on finding new customers. 
B)  It prefers not to maintain existing customers due to high costs. 
C)  It does not believe in generating repeat sales. 
D)  It believes in maintaining existing customers. 
A)  It focuses on finding new customers. 
B)  It prefers not to maintain existing customers due to high costs. 
C)  It does not believe in generating repeat sales. 
D)  It believes in maintaining existing customers.

Question 9

For-profit organizations and not-for-profit organizations often form _____.

Accepted Answer

A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing 
A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing

Question 10

Wild Escape advertises jungle safaris,chimpanzee tracking,and gorilla tracking tours.This is an example of _____.

Accepted Answer

A)  form utility creation 
B)  place marketing 
C)  organization utility 
D)  sports marketing 
A)  form utility creation 
B)  place marketing 
C)  organization utility 
D)  sports marketing

Question 11

The utility of a product or service is its:

Accepted Answer

A)  want-satisfying power. 
B)  re-usability. 
C)  function as a commodity. 
D)  design quality. 
A)  want-satisfying power. 
B)  re-usability. 
C)  function as a commodity. 
D)  design quality.

Question 12

Which function of marketing helps marketers determine what consumers want and need and how to offer goods and services to satisfy them?

Accepted Answer

A)  Financing 
B)  Securing market information 
C)  Risk taking 
D)  Standardizing and grading 
A)  Financing 
B)  Securing market information 
C)  Risk taking 
D)  Standardizing and grading

Question 13

Financing is one of the _____ functions of marketing.

Accepted Answer

A)  exchange 
B)  distribution 
C)  decisional 
D)  facilitating 
A)  exchange 
B)  distribution 
C)  decisional 
D)  facilitating

Question 14

In the sales era,firms attempted to match their output to the potential number of customers who would want it.

Accepted Answer

A) True 
 B)False

Question 15

Many hotel chains offer free stays and other perks to repeat customers.This is an example of:

Accepted Answer

A)  relationship marketing. 
B)  transaction-based marketing. 
C)  interactive marketing. 
D)  social marketing. 
A)  relationship marketing. 
B)  transaction-based marketing. 
C)  interactive marketing. 
D)  social marketing.

Question 16

A strategic alliance is defined as a partnership between a for-profit business and a not-for-profit organization.

Accepted Answer

A) True 
 B)False

Question 17

Relationship marketing focuses more attention on _____ customers because new customers are _____ to acquire compared to existing customers.

Accepted Answer

A)  existing; less expensive 
B)  new; less expensive 
C)  existing; more expensive 
D)  new; more expensive 
A)  existing; less expensive 
B)  new; less expensive 
C)  existing; more expensive 
D)  new; more expensive

Question 18

If a company such as J.B.Trucking wanted to avoid marketing myopia,it should define its business as:

Accepted Answer

A)  a provider of transportation solutions. 
B)  a trucking company. 
C)  a materials handling company. 
D)  a freight hauling firm. 
A)  a provider of transportation solutions. 
B)  a trucking company. 
C)  a materials handling company. 
D)  a freight hauling firm.

Question 19

The Tour de Cure is a bicycle ride,not a race,to raise money for the American Diabetes Association and is held in 40 states nationwide. This is an example of:

Accepted Answer

A)  event marketing. 
B)  organization marketing. 
C)  person marketing. 
D)  place marketing. 
A)  event marketing. 
B)  organization marketing. 
C)  person marketing. 
D)  place marketing.

Question 20

When marketers apply quantity control standards,they are:

Accepted Answer

A)  engaging in the process of exchange. 
B)  reducing the need for purchasers to inspect each item they purchase. 
C)  determining the amount an individual will be allowed to buy on credit. 
D)  developing channels of distribution for a product. 
A)  engaging in the process of exchange. 
B)  reducing the need for purchasers to inspect each item they purchase. 
C)  determining the amount an individual will be allowed to buy on credit. 
D)  developing channels of distribution for a product.

Exam 1: Marketing: The Art and Science of Satisfying Customers

Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.

The marketing era is defined by a shift in focus from products and sales to satisfying a consumer's needs.

Availability of goods and services at convenient locations creates:

"Word-of-mouth" advertising that has grown in effectiveness with the advent of the Internet is called _____.

According to relationship marketing,firms must apply higher standards of customer satisfaction to external customer relationships over intradepartmental relationships.

A firm with a fully developed marketing concept is one with a company-wide consumer orientation with the objective of achieving long-term success.

It can be said that Glen Inc.,a woolen products manufacturing company based in Switzerland,is a firm that uses a market-driven strategy because it produces goods based on local customers' experiences,needs,and preferences.

Which of the following is true of relationship marketing?

For-profit organizations and not-for-profit organizations often form _____.

Wild Escape advertises jungle safaris,chimpanzee tracking,and gorilla tracking tours.This is an example of _____.

The utility of a product or service is its:

Which function of marketing helps marketers determine what consumers want and need and how to offer goods and services to satisfy them?

Financing is one of the _____ functions of marketing.

In the sales era,firms attempted to match their output to the potential number of customers who would want it.

Many hotel chains offer free stays and other perks to repeat customers.This is an example of:

A strategic alliance is defined as a partnership between a for-profit business and a not-for-profit organization.

Relationship marketing focuses more attention on _____ customers because new customers are _____ to acquire compared to existing customers.

If a company such as J.B.Trucking wanted to avoid marketing myopia,it should define its business as:

The Tour de Cure is a bicycle ride,not a race,to raise money for the American Diabetes Association and is held in 40 states nationwide. This is an example of:

When marketers apply quantity control standards,they are:

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Relationship marketing focuses more attention on _ customers because new customers are _ to acquire compared to existing customers.