Question 1

Price doesn't always have to be calculated in monetary terms.

Accepted Answer

A) True 
 B)False  True

Question 2

Which of the four Ps of marketing does the $300,000 tag represent?

Accepted Answer

A)  People 
B)  Price 
C)  Place 
D)  Product 
E)  Promotion 
A)  People 
B)  Price 
C)  Place 
D)  Product 
E)  Promotion B

Question 3

Drakes Inc.manufactures dirt bikes.The company mass-produces bikes based on the resources available.It does not focus on the needs of the customer.This is an example of:

Accepted Answer

A)  sales orientation. 
B)  value orientation. 
C)  market orientation. 
D)  customer orientation. 
E)  brand orientation. 
A)  sales orientation. 
B)  value orientation. 
C)  market orientation. 
D)  customer orientation. 
E)  brand orientation. A

Question 4

An airline was launched as a no-frills,heavy-discount carrier.One bottle of water was provided free of cost to all passengers,and the airline staff provided free board games to entertain passengers.All this was based on the understanding of what customers needed.This airline has a:

Accepted Answer

A)  sales orientation. 
B)  value orientation. 
C)  market orientation. 
D)  product orientation. 
E)  brand orientation. 
A)  sales orientation. 
B)  value orientation. 
C)  market orientation. 
D)  product orientation. 
E)  brand orientation.

Question 5

In the context of entrepreneurial marketing,great and distinguished entrepreneurs:

Accepted Answer

A)  focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs. 
B)  try to sell as many of their products as possible rather than focus on making products consumers really want. 
C)  have realized the need to think about customers in terms of transactions rather than relationships. 
D)  have a vision of how certain combinations of products and services can satisfy unfilled needs. 
E)  try selling a product after it is developed rather than starting with an understanding of the customers' needs and then developing a product to satisfy those needs. 
A)  focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs. 
B)  try to sell as many of their products as possible rather than focus on making products consumers really want. 
C)  have realized the need to think about customers in terms of transactions rather than relationships. 
D)  have a vision of how certain combinations of products and services can satisfy unfilled needs. 
E)  try selling a product after it is developed rather than starting with an understanding of the customers' needs and then developing a product to satisfy those needs.

Question 6

For marketers,the key to determining prices is to:

Accepted Answer

A)  vary the price of products frequently before finalizing. 
B)  focus exclusively on high organizational profitability. 
C)  figure out how much customers are willing to pay. 
D)  rely on the price range of competitors to determine pricing strategies. 
E)  involve employees in making price decisions. 
A)  vary the price of products frequently before finalizing. 
B)  focus exclusively on high organizational profitability. 
C)  figure out how much customers are willing to pay. 
D)  rely on the price range of competitors to determine pricing strategies. 
E)  involve employees in making price decisions.

Question 7

A martial arts training institute has uploaded quick two- to three-minute training tutorial videos on YouTube in order to advertise the institute.In this scenario,what is the institute using to advertise itself?

Accepted Answer

A)  Secondary merchandising 
B)  Social media 
C)  Out-of-home marketing 
D)  Broadcast advertising 
E)  Print media 
A)  Secondary merchandising 
B)  Social media 
C)  Out-of-home marketing 
D)  Broadcast advertising 
E)  Print media

Question 8

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it:

Accepted Answer

A)  communicates their products' value to customers. 
B)  will result in high employee turnover. 
C)  will make it easier for them to expand globally. 
D)  will help their bottom line in the long run. 
E)  enables them to sell goods in large quantities. 
A)  communicates their products' value to customers. 
B)  will result in high employee turnover. 
C)  will make it easier for them to expand globally. 
D)  will help their bottom line in the long run. 
E)  enables them to sell goods in large quantities.

Question 9

Explain value-based orientation.

Accepted Answer

Marketing firms recognized that there wa

Question 10

Which of the following holds true for product-oriented companies?

Accepted Answer

A)  They focus on selling as many of their products as possible rather than focusing on making products consumers really want. 
B)  They focus on giving customers better worth (monetary and nonmonetary)for products than their competitors. 
C)  They focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs. 
D)  They focus on the extension of a single brand name to market products in different product categories. 
E)  They focus on what consumers want and need before they design,make,or attempt to sell their products and services. 
A)  They focus on selling as many of their products as possible rather than focusing on making products consumers really want. 
B)  They focus on giving customers better worth (monetary and nonmonetary)for products than their competitors. 
C)  They focus on developing and distributing innovative products with little concern about whether the products best satisfy customers' needs. 
D)  They focus on the extension of a single brand name to market products in different product categories. 
E)  They focus on what consumers want and need before they design,make,or attempt to sell their products and services.

Question 11

A company manufactures soaps.It selects a small number of retail outlets to distribute the product.Among the four Ps of marketing,this exemplifies:

Accepted Answer

A)  people. 
B)  price. 
C)  place. 
D)  policy. 
E)  promotion. 
A)  people. 
B)  price. 
C)  place. 
D)  policy. 
E)  promotion.

Question 12

Promotion generally can enhance a product or service's value.

Accepted Answer

A) True 
 B)False

Question 13

The time and energy spent by Marco along with the sum of money that he had spent to buy the bike constitute the:

Accepted Answer

A)  idea. 
B)  good. 
C)  service. 
D)  exchange. 
E)  price. 
A)  idea. 
B)  good. 
C)  service. 
D)  exchange. 
E)  price.

Question 14

Tim,who buys the potato chips from a local supermarket,is a:

Accepted Answer

A)  manufacturer 
B)  distributor 
C)  retailer 
D)  supplier 
E)  consumer 
A)  manufacturer 
B)  distributor 
C)  retailer 
D)  supplier 
E)  consumer

Question 15

GoBagged is a leading producer of travel bags.It uses blogging sites to connect with its customers and get daily updates about new marketing trends.What is GoBagged using to connect with its customers?

Accepted Answer

A)  Visual merchandising 
B)  Print media 
C)  Out-of-home marketing 
D)  Social media 
E)  Broadcast advertising 
A)  Visual merchandising 
B)  Print media 
C)  Out-of-home marketing 
D)  Social media 
E)  Broadcast advertising

Question 16

Marketing cannot be designed to benefit an entire industry at a time.

Accepted Answer

A) True 
 B)False

Question 17

Marketing mix is the controllable set of activities that a firm uses to respond to the wants of its target markets.

Accepted Answer

A) True 
 B)False

Question 18

Marketers find it practical to sell their products and services to everyone.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following components of the four Ps of marketing includes all the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it?

Accepted Answer

A)  people 
B)  price 
C)  place 
D)  product 
E)  promotion 
A)  people 
B)  price 
C)  place 
D)  product 
E)  promotion

Question 20

Nutrieat,a digestive cookie manufacturer,sold its products only in high quality,air-tight cans of 16oz and 32oz.To better satisfy customer needs,it recently introduced smaller packs of the biscuits in paper packages at reduced rates.Which of the following requirements for a value-driven firm does Nutrieat exemplify?

Accepted Answer

A)  Sharing supplier information 
B)  Balancing benefits with costs 
C)  Building competitor relationships 
D)  Social media marketing 
E)  Gathering customer feedback 
A)  Sharing supplier information 
B)  Balancing benefits with costs 
C)  Building competitor relationships 
D)  Social media marketing 
E)  Gathering customer feedback

Price doesn't always have to be calculated in monetary terms.

Which of the four Ps of marketing does the $300,000 tag represent?

Drakes Inc.manufactures dirt bikes.The company mass-produces bikes based on the resources available.It does not focus on the needs of the customer.This is an example of:

An airline was launched as a no-frills,heavy-discount carrier.One bottle of water was provided free of cost to all passengers,and the airline staff provided free board games to entertain passengers.All this was based on the understanding of what customers needed.This airline has a:

In the context of entrepreneurial marketing,great and distinguished entrepreneurs:

For marketers,the key to determining prices is to:

A martial arts training institute has uploaded quick two- to three-minute training tutorial videos on YouTube in order to advertise the institute.In this scenario,what is the institute using to advertise itself?

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it:

Explain value-based orientation.

Which of the following holds true for product-oriented companies?

A company manufactures soaps.It selects a small number of retail outlets to distribute the product.Among the four Ps of marketing,this exemplifies:

Promotion generally can enhance a product or service's value.

The time and energy spent by Marco along with the sum of money that he had spent to buy the bike constitute the:

Tim,who buys the potato chips from a local supermarket,is a:

GoBagged is a leading producer of travel bags.It uses blogging sites to connect with its customers and get daily updates about new marketing trends.What is GoBagged using to connect with its customers?

Marketing cannot be designed to benefit an entire industry at a time.

Marketing mix is the controllable set of activities that a firm uses to respond to the wants of its target markets.

Marketers find it practical to sell their products and services to everyone.

Which of the following components of the four Ps of marketing includes all the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it?

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 1: Overview of Marketing

Price doesn't always have to be calculated in monetary terms.

Which of the four Ps of marketing does the $300,000 tag represent?

Drakes Inc.manufactures dirt bikes.The company mass-produces bikes based on the resources available.It does not focus on the needs of the customer.This is an example of:

An airline was launched as a no-frills,heavy-discount carrier.One bottle of water was provided free of cost to all passengers,and the airline staff provided free board games to entertain passengers.All this was based on the understanding of what customers needed.This airline has a:

In the context of entrepreneurial marketing,great and distinguished entrepreneurs:

For marketers,the key to determining prices is to:

A martial arts training institute has uploaded quick two- to three-minute training tutorial videos on YouTube in order to advertise the institute.In this scenario,what is the institute using to advertise itself?

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it:

Explain value-based orientation.

Which of the following holds true for product-oriented companies?

A company manufactures soaps.It selects a small number of retail outlets to distribute the product.Among the four Ps of marketing,this exemplifies:

Promotion generally can enhance a product or service's value.

The time and energy spent by Marco along with the sum of money that he had spent to buy the bike constitute the:

Tim,who buys the potato chips from a local supermarket,is a:

GoBagged is a leading producer of travel bags.It uses blogging sites to connect with its customers and get daily updates about new marketing trends.What is GoBagged using to connect with its customers?

Marketing cannot be designed to benefit an entire industry at a time.

Marketing mix is the controllable set of activities that a firm uses to respond to the wants of its target markets.

Marketers find it practical to sell their products and services to everyone.

Which of the following components of the four Ps of marketing includes all the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it?

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters