Question 1

The term 'bottom line' is a reference to:

Accepted Answer

A)  overall company profitability. 
B)  a firm's social responsibility. 
C)  the limits on marketing budgets. 
D)  the ethical and social viability of marketing. 
A)  overall company profitability. 
B)  a firm's social responsibility. 
C)  the limits on marketing budgets. 
D)  the ethical and social viability of marketing.

Question 2

The physical distribution functions of marketing are related to advertising,personal selling,and sales promotion in the attempt to match products and services to consumer needs.

Accepted Answer

A) True 
 B)False

Question 3

William Cutlery Inc.sells its products at its stores and via door-to-door sales.Selling,order taking,delivery,and limited customer service are all conducted by the drivers.Which two marketing functions overlap as a result of the drivers' required responsibilities?

Accepted Answer

A)  Facilitation and distribution 
B)  Exchange and facilitating 
C)  Distribution and exchange 
D)  Exchange and financing 
A)  Facilitation and distribution 
B)  Exchange and facilitating 
C)  Distribution and exchange 
D)  Exchange and financing

Question 4

A gaming corporation and a mobile manufacturer work together to develop unique games which are made available on the applications of the phones.This is an example of:

Accepted Answer

A)  an exchange function. 
B)  marketing research. 
C)  social marketing. 
D)  a strategic alliance. 
A)  an exchange function. 
B)  marketing research. 
C)  social marketing. 
D)  a strategic alliance.

Question 5

Marketing is the organizational function that refers to all forms of selling from institutional sales to personal selling.

Accepted Answer

A) True 
 B)False

Question 6

Explain the exchange and distribution functions of marketing.

Accepted Answer

Buying and selling represent exchange fu

Question 7

Not-for-profit organizations have numerous organizational objectives other than profitability due to their diversity.

Accepted Answer

A) True 
 B)False

Question 8

Interactive marketing refers to:

Accepted Answer

A)  sequential marketing efforts beginning with frontline salespersons and proceeding to detailed instructions by a technical expert. 
B)  marketing efforts vis-a-vis interactive programs where customers can post their queries directly to the management. 
C)  buyer-seller communications in which the customer controls the amount and type of information received from a marketer. 
D)  software-controlled marketing strategy which uses central databases to segment the market on various demographic and psychographic factors. 
A)  sequential marketing efforts beginning with frontline salespersons and proceeding to detailed instructions by a technical expert. 
B)  marketing efforts vis-a-vis interactive programs where customers can post their queries directly to the management. 
C)  buyer-seller communications in which the customer controls the amount and type of information received from a marketer. 
D)  software-controlled marketing strategy which uses central databases to segment the market on various demographic and psychographic factors.

Question 9

An auto manufacturer creates ownership utility for its consumers by combining metal,rubber,plastic and petroleum products.

Accepted Answer

A) True 
 B)False

Question 10

The main goal of not-for-profit organizations is to generate revenues above and beyond their costs to make money for all stakeholders involved.

Accepted Answer

A) True 
 B)False

Question 11

Product-oriented rather than customer-oriented management endangers the future growth of an organization.

Accepted Answer

A) True 
 B)False

Question 12

Define utility and discuss the four types of utility.Give examples and list the functional areas within an organization that are responsible for each.

Accepted Answer

Utility is the want-satisfying power of

Question 13

On average,marketing expenses account for half of the costs involved in a product.

Accepted Answer

A) True 
 B)False

Question 14

The traditional view of marketing can be described as transaction-based marketing.

Accepted Answer

A) True 
 B)False

Question 15

Buying an iPod generates ownership utility; however,buying a concert ticket does not.

Accepted Answer

A) True 
 B)False

Question 16

_____ involves marketing philosophies,policies,procedures,and actions whose primary objective is the enhancement of society.

Accepted Answer

A)  Social responsibility 
B)  Customer orientation 
C)  Ethics 
D)  Relationship marketing 
A)  Social responsibility 
B)  Customer orientation 
C)  Ethics 
D)  Relationship marketing

Question 17

List and describe the five types of

Accepted Answer

Cause marketing is the identification an

Question 18

Owen buys a car for himself.Owen has created ownership utility.

Accepted Answer

A) True 
 B)False

Question 19

The cost of finding new customers is far less than the cost of maintaining existing ones.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is true regarding marketing?

Accepted Answer

A)  The marketing concept emphasizes creating and maintaining short-term successful relationships with customers and suppliers. 
B)  Marketing encompasses such a broad scope of activities and ideas that settling on one definition is often difficult. 
C)  Marketing refers to an activity in which two or more parties give something of value to each other to satisfy perceived needs. 
D)  The marketing concept is a belief that consumers will resist purchasing nonessential goods and services. 
A)  The marketing concept emphasizes creating and maintaining short-term successful relationships with customers and suppliers. 
B)  Marketing encompasses such a broad scope of activities and ideas that settling on one definition is often difficult. 
C)  Marketing refers to an activity in which two or more parties give something of value to each other to satisfy perceived needs. 
D)  The marketing concept is a belief that consumers will resist purchasing nonessential goods and services.

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

The term 'bottom line' is a reference to:

The physical distribution functions of marketing are related to advertising,personal selling,and sales promotion in the attempt to match products and services to consumer needs.

William Cutlery Inc.sells its products at its stores and via door-to-door sales.Selling,order taking,delivery,and limited customer service are all conducted by the drivers.Which two marketing functions overlap as a result of the drivers' required responsibilities?

A gaming corporation and a mobile manufacturer work together to develop unique games which are made available on the applications of the phones.This is an example of:

Marketing is the organizational function that refers to all forms of selling from institutional sales to personal selling.

Explain the exchange and distribution functions of marketing.

Not-for-profit organizations have numerous organizational objectives other than profitability due to their diversity.

Interactive marketing refers to:

An auto manufacturer creates ownership utility for its consumers by combining metal,rubber,plastic and petroleum products.

The main goal of not-for-profit organizations is to generate revenues above and beyond their costs to make money for all stakeholders involved.

Product-oriented rather than customer-oriented management endangers the future growth of an organization.

Define utility and discuss the four types of utility.Give examples and list the functional areas within an organization that are responsible for each.

On average,marketing expenses account for half of the costs involved in a product.

The traditional view of marketing can be described as transaction-based marketing.

Buying an iPod generates ownership utility; however,buying a concert ticket does not.

_____ involves marketing philosophies,policies,procedures,and actions whose primary objective is the enhancement of society.

List and describe the five types of

Owen buys a car for himself.Owen has created ownership utility.

The cost of finding new customers is far less than the cost of maintaining existing ones.

Which of the following is true regarding marketing?

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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