Question 1

What is the essence of successful marketing?

Accepted Answer

A) focusing on customers' needs 
B) making money 
C) making the exchange 
D) retention plan 
A) focusing on customers' needs 
B) making money 
C) making the exchange 
D) retention plan

Question 2

The _____ orientation stage focuses organizational efforts to collect and use information about customers' needs to create customer value.

Accepted Answer

A) production 
B) marketing 
C) advertising 
D) sales 
A) production 
B) marketing 
C) advertising 
D) sales

Question 3

Database technology has surfaced as a tool that facilitates relationship marketing by putting a focus on corporate social responsibility (CSR) for the marketing industry, and is often facilitated by CSR software.

Accepted Answer

A) True 
 B)False

Question 4

A target market is:

Accepted Answer

A) one or more specific groups of existing and potential consumers toward which a marketer directs its marketing efforts. 
B) the one specific group of potential consumers on which an organization concentrates its marketing efforts. 
C) the distribution chain by which products reach consumers. 
D) a means of communication between buyers and sellers. 
A) one or more specific groups of existing and potential consumers toward which a marketer directs its marketing efforts. 
B) the one specific group of potential consumers on which an organization concentrates its marketing efforts. 
C) the distribution chain by which products reach consumers. 
D) a means of communication between buyers and sellers.

Question 5

A cosmetics-selling company decides to manufacture and sell a new range of products under the label "environment friendly," promising that the products are not animal-tested and are made with natural ingredients.This is an example of _____.

Accepted Answer

A) customer relationship management 
B) production orientation stage 
C) marketing orientation stage 
D) societal marketing 
A) customer relationship management 
B) production orientation stage 
C) marketing orientation stage 
D) societal marketing

Question 6

What did the production orientation stage focus on?

Accepted Answer

The production orientation stage focused

Question 7

The owners of Old School Brand Authentic Antique Foods researched cookbooks to come up with recipes for the old-fashioned products they market.Concern about the _____ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Accepted Answer

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

Question 8

Market describes the potential consumers who have both the willingness and ability to buy a product.

Accepted Answer

A) True 
 B)False

Question 9

Place refers only to a physical store where consumers can purchase a product.

Accepted Answer

A) True 
 B)False

Question 10

The marketing mix refers to the 4 Ps - product, price, promotion, and place.

Accepted Answer

A) True 
 B)False

Question 11

The unique combination of benefits received by targeted consumers that include quality, price, convenience, delivery, and both before-sale and after-sale service is called customer _____.

Accepted Answer

A) loyalty program 
B) value 
C) convenience 
D) retention plan 
A) loyalty program 
B) value 
C) convenience 
D) retention plan

Question 12

Successful marketing is focused on customer needs and wants.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following statements explains why businesses moved from the production orientation stage to the sales orientation stage?

Accepted Answer

A) The population was moving away from urban areas. 
B) There were too many customers to serve. 
C) Competition grew as the production of goods increased. 
D) Advertising was becoming a major marketing force. 
A) The population was moving away from urban areas. 
B) There were too many customers to serve. 
C) Competition grew as the production of goods increased. 
D) Advertising was becoming a major marketing force.

Question 14

Which of the following statements about the marketing orientation stage is true?

Accepted Answer

A) During the marketing orientation stage, companies tried to satisfy the needs of consumers while also achieving the organization's goals. 
B) During the marketing orientation stage, companies tried to satisfy the wants of the consumer at all costs. 
C) During the marketing orientation stage, companies believed that if you produced as much as possible, at the highest quality level, for the lowest price, the product will sell itself. 
D) All firms are now operating with a marketing orientation philosophy. 
A) During the marketing orientation stage, companies tried to satisfy the needs of consumers while also achieving the organization's goals. 
B) During the marketing orientation stage, companies tried to satisfy the wants of the consumer at all costs. 
C) During the marketing orientation stage, companies believed that if you produced as much as possible, at the highest quality level, for the lowest price, the product will sell itself. 
D) All firms are now operating with a marketing orientation philosophy.

Question 15

In marketing, a product is defined as something tangible that you can touch and own but not experience.

Accepted Answer

A) True 
 B)False

Question 16

Happy Traveller Ltd.has designed a program that allots its customers reward points each time its members hire the company to book their holidays.It has also introduced discounted Christmas and New Year holiday vacation packages only for its members and long time customers.Happy Traveller Ltd.has also expressed its support for a cancer foundation, donating a substantial sum of money to the foundation.The cancer foundation has announced Happy Traveller Ltd.as one of its patrons.Which of the following is true of Happy Traveller's support of the cancer foundation?

Accepted Answer

A) The company aims to deliver superior customer value and satisfaction through improvised products and services. 
B) The company is striving to satisfy the needs of consumers and achieve organizational goals. 
C) The company aims to identify consumer needs and manage the marketing mix to meet these needs. 
D) The company aims to establish a socially responsible image and express that it shares its customers' values and interests. 
A) The company aims to deliver superior customer value and satisfaction through improvised products and services. 
B) The company is striving to satisfy the needs of consumers and achieve organizational goals. 
C) The company aims to identify consumer needs and manage the marketing mix to meet these needs. 
D) The company aims to establish a socially responsible image and express that it shares its customers' values and interests.

Question 17

Jack Farms Gourmet Bread Base is the brand name for a mix designed for use in bread machines.The mixes are sold in two-pound packages for $14.99 plus postage.The products are available only through mail.People learn about the product through word-of-mouth and through bread machine demonstrations the company's founder gives to groups in the Greater Toronto Area, where she lives.This is a description of the company's _____.

Accepted Answer

A) growth plan 
B) market segmentation strategy 
C) mission statement 
D) marketing mix 
A) growth plan 
B) market segmentation strategy 
C) mission statement 
D) marketing mix

Question 18

In the past, Burger King, Wendy's, and McDonald's used to market their burgers in non-biodegradable Styrofoam containers.In response to calls from the public to use more environmentally friendly materials, most fast-food marketers use paper containers for their burgers.Indeed, many such containers are made from recycled materials.This is an example of _____.

Accepted Answer

A) macromarketing by the fast-food chains 
B) corporate social responsibility marketing 
C) reverse marketing 
D) consumer valuation 
A) macromarketing by the fast-food chains 
B) corporate social responsibility marketing 
C) reverse marketing 
D) consumer valuation

Question 19

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each a month?

Accepted Answer

A) the profit motive 
B) the regulatory environment 
C) its internal environment 
D) the corporate social responsibility concept 
A) the profit motive 
B) the regulatory environment 
C) its internal environment 
D) the corporate social responsibility concept

Question 20

Creating products with added value is achieved only through pricing strategies.

Accepted Answer

A) True 
 B)False

What is the essence of successful marketing?

The _____ orientation stage focuses organizational efforts to collect and use information about customers' needs to create customer value.

Database technology has surfaced as a tool that facilitates relationship marketing by putting a focus on corporate social responsibility (CSR) for the marketing industry, and is often facilitated by CSR software.

A target market is:

A cosmetics-selling company decides to manufacture and sell a new range of products under the label "environment friendly," promising that the products are not animal-tested and are made with natural ingredients.This is an example of _____.

What did the production orientation stage focus on?

The owners of Old School Brand Authentic Antique Foods researched cookbooks to come up with recipes for the old-fashioned products they market.Concern about the _____ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Market describes the potential consumers who have both the willingness and ability to buy a product.

Place refers only to a physical store where consumers can purchase a product.

The marketing mix refers to the 4 Ps - product, price, promotion, and place.

The unique combination of benefits received by targeted consumers that include quality, price, convenience, delivery, and both before-sale and after-sale service is called customer _____.

Successful marketing is focused on customer needs and wants.

Which of the following statements explains why businesses moved from the production orientation stage to the sales orientation stage?

Which of the following statements about the marketing orientation stage is true?

In marketing, a product is defined as something tangible that you can touch and own but not experience.

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each a month?

Creating products with added value is achieved only through pricing strategies.

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 1: Marketing Fundamentals

What is the essence of successful marketing?

The _____ orientation stage focuses organizational efforts to collect and use information about customers' needs to create customer value.

Database technology has surfaced as a tool that facilitates relationship marketing by putting a focus on corporate social responsibility (CSR) for the marketing industry, and is often facilitated by CSR software.

A target market is:

A cosmetics-selling company decides to manufacture and sell a new range of products under the label "environment friendly," promising that the products are not animal-tested and are made with natural ingredients.This is an example of _____.

What did the production orientation stage focus on?

The owners of Old School Brand Authentic Antique Foods researched cookbooks to come up with recipes for the old-fashioned products they market.Concern about the _____ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Market describes the potential consumers who have both the willingness and ability to buy a product.

Place refers only to a physical store where consumers can purchase a product.

The marketing mix refers to the 4 Ps - product, price, promotion, and place.

The unique combination of benefits received by targeted consumers that include quality, price, convenience, delivery, and both before-sale and after-sale service is called customer _____.

Successful marketing is focused on customer needs and wants.

Which of the following statements explains why businesses moved from the production orientation stage to the sales orientation stage?

Which of the following statements about the marketing orientation stage is true?

In marketing, a product is defined as something tangible that you can touch and own but not experience.

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each a month?

Creating products with added value is achieved only through pricing strategies.

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters