Question 1

Which of the following statements is correct regarding not-for-profit organizations?

Accepted Answer

A)  The sole common factor between not-for-profit organizations and for-profit firms is the financial bottom line. 
B)  Not-for-profit organizations hope to generate as much revenue as possible to support their causes. 
C)  Not-for-profit organizations are all found in the public sector. 
D)  Historically, not-for-profit firms have had more exact goals and marketing objectives than for-profit firms. 
A)  The sole common factor between not-for-profit organizations and for-profit firms is the financial bottom line. 
B)  Not-for-profit organizations hope to generate as much revenue as possible to support their causes. 
C)  Not-for-profit organizations are all found in the public sector. 
D)  Historically, not-for-profit firms have had more exact goals and marketing objectives than for-profit firms.

Question 2

Intermediaries that operate between producers and resellers are known as wholesalers.

Accepted Answer

A) True 
 B)False

Question 3

Sustainable products are products that can be produced,used,and disposed of with minimal impact on the environment.

Accepted Answer

A) True 
 B)False

Question 4

Melissa is campaigning for Janet,her friend,who is contesting for the presidency of the student council at Riverdale Junior College.Melissa's effort is an example of _____ marketing.

Accepted Answer

A)  cause 
B)  person 
C)  place 
D)  organization 
A)  cause 
B)  person 
C)  place 
D)  organization

Question 5

A theater group promoting a performance to raise funds in the fight against cancer is an example of both cause marketing and event marketing.

Accepted Answer

A) True 
 B)False

Question 6

Within a business environment,the marketing function is responsible for the creation of time,place,and ownership utility,whereas the production function creates form utility.

Accepted Answer

A) True 
 B)False

Question 7

Marketing myopia occurs when management fails to recognize the scope of its business.

Accepted Answer

A) True 
 B)False

Question 8

What are sustainable products? What are the benefits of sustainability efforts?

Accepted Answer

Sustainable products are those that can

Question 9

A(n)_____ occurs when buyers outnumber sellers or product supply.

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

Marketing of sporting,cultural,and recreational activities to selected target markets is known as cause marketing.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following refers to marketing myopia?

Accepted Answer

A)  A companywide consumer orientation with the objective of achieving long-run success 
B)  A market in which there are more buyers for fewer goods and services 
C)  A management's failure to recognize the scope of its business 
D)  A market in which there are more goods and services than people willing to buy them 
A)  A companywide consumer orientation with the objective of achieving long-run success 
B)  A market in which there are more buyers for fewer goods and services 
C)  A management's failure to recognize the scope of its business 
D)  A market in which there are more goods and services than people willing to buy them

Question 12

Creating _____ utility is the responsibility of the production function.

Accepted Answer

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

Question 13

Which of the following forms the first half of the exchange process?

Accepted Answer

A)  Standardizing 
B)  Buying 
C)  Selling 
D)  Storing 
A)  Standardizing 
B)  Buying 
C)  Selling 
D)  Storing

Question 14

Which of the following statements concerning the global marketplace is true?

Accepted Answer

A)  The global marketplace is diminishing because of Internet technology. 
B)  The global marketplace is growing because of trade agreements. 
C)  The global marketplace is growing due to the threat of the ability of a single nation to manufacture, supply, and consume all that it produces. 
D)  The global marketplace is growing owing to the talent shortage in the home countries of national companies. 
A)  The global marketplace is diminishing because of Internet technology. 
B)  The global marketplace is growing because of trade agreements. 
C)  The global marketplace is growing due to the threat of the ability of a single nation to manufacture, supply, and consume all that it produces. 
D)  The global marketplace is growing owing to the talent shortage in the home countries of national companies.

Question 15

The business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them is known as:

Accepted Answer

A)  customer persuasion. 
B)  consumer orientation. 
C)  aggressive marketing. 
D)  sales orientation. 
A)  customer persuasion. 
B)  consumer orientation. 
C)  aggressive marketing. 
D)  sales orientation.

Question 16

The use of online social media as a communications channel for marketing messages is known as _____.

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 17

The organizational function and set of processes that creates,communicates,and delivers value to customers and manages customer relationships in ways that benefit the organization and its stakeholders is called _____.

Accepted Answer

A)  marketing 
B)  financing 
C)  operations 
D)  administration 
A)  marketing 
B)  financing 
C)  operations 
D)  administration

Question 18

Electronic commerce and computer technologies have created unprecedented opportunities in business today.

Accepted Answer

A) True 
 B)False

Question 19

Buying,selling,transporting,and storing are known as the facilitating functions of marketing because they represent the exchange and physical distribution functions.

Accepted Answer

A) True 
 B)False

Question 20

A market in which there are more buyers for fewer goods and services is known as a:

Accepted Answer

A)  seller's market. 
B)  monopoly. 
C)  buyer's market. 
D)  oligopoly. 
A)  seller's market. 
B)  monopoly. 
C)  buyer's market. 
D)  oligopoly.

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

Which of the following statements is correct regarding not-for-profit organizations?

Intermediaries that operate between producers and resellers are known as wholesalers.

Sustainable products are products that can be produced,used,and disposed of with minimal impact on the environment.

Melissa is campaigning for Janet,her friend,who is contesting for the presidency of the student council at Riverdale Junior College.Melissa's effort is an example of _____ marketing.

A theater group promoting a performance to raise funds in the fight against cancer is an example of both cause marketing and event marketing.

Within a business environment,the marketing function is responsible for the creation of time,place,and ownership utility,whereas the production function creates form utility.

Marketing myopia occurs when management fails to recognize the scope of its business.

What are sustainable products? What are the benefits of sustainability efforts?

A(n)_____ occurs when buyers outnumber sellers or product supply.

Marketing of sporting,cultural,and recreational activities to selected target markets is known as cause marketing.

Which of the following refers to marketing myopia?

Creating _____ utility is the responsibility of the production function.

Which of the following forms the first half of the exchange process?

Which of the following statements concerning the global marketplace is true?

The business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them is known as:

The use of online social media as a communications channel for marketing messages is known as _____.

The organizational function and set of processes that creates,communicates,and delivers value to customers and manages customer relationships in ways that benefit the organization and its stakeholders is called _____.

Electronic commerce and computer technologies have created unprecedented opportunities in business today.

Buying,selling,transporting,and storing are known as the facilitating functions of marketing because they represent the exchange and physical distribution functions.

A market in which there are more buyers for fewer goods and services is known as a:

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

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