Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Some Florida drivers have license plates that say "Save the Manatee." This is an example of _____ marketing.

Accepted Answer

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

Question 3

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping.What type of utility are banks creating for customers?

Accepted Answer

A) Form 
B) Possession 
C) Place 
D) Ownership 
A) Form 
B) Possession 
C) Place 
D) Ownership

Question 4

The advent of a strong buyer's market created the need for consumer orientation by businesses.

Accepted Answer

A) True 
 B)False

Question 5

A corporate recruiter called you recently about a great marketing opportunity with a company headquartered in Miami,Florida.He did not give you the name of the company,but he described it as follows: 1.Contributors of financial resources to the company sometimes try to influence the company's marketing to promote their own agenda.
2)More than 25% of the U.S.adult population works in one or more of these types of companies.
3)Earnings-per-share is not a major focus for this type of company.
4)Marketing is very important to the success of this type of company.
Which one of the following types of companies is the recruiter describing?​

Accepted Answer

A) ​A Fortune 500 company 
B) ​A special interest company 
C) ​A not-for-profit company 
D) ​A joint venture company 
E) ​A for-profit company 
A) ​A Fortune 500 company 
B) ​A special interest company 
C) ​A not-for-profit company 
D) ​A joint venture company 
E) ​A for-profit company

Question 6

Explain the exchange and distribution functions of marketing.

Accepted Answer

Buying and selling represent exchange fu

Question 7

Indigo Ltd.wanted to increase its customers by applying the marketing concept.Which of the following would be an appropriate way to apply this approach?

Accepted Answer

A) Maximize production of goods 
B) Focus on meeting the needs of the consumers 
C) Offer more product variety than competitors 
D) Produce high quality goods 
A) Maximize production of goods 
B) Focus on meeting the needs of the consumers 
C) Offer more product variety than competitors 
D) Produce high quality goods

Question 8

Marketing is the indirect connection between a firm and its customers.

Accepted Answer

A) True 
 B)False

Question 9

When a firm contributes to environment protection and human welfare programs,which type of behavior is it exhibiting?

Accepted Answer

A) Relationship marketing 
B) Social responsibility 
C) Economic neutrality 
D) One-to-one marketing 
A) Relationship marketing 
B) Social responsibility 
C) Economic neutrality 
D) One-to-one marketing

Question 10

Marketers have been forced to adopt a more global perspective with their strategies.Which of the following is a key factor in driving this change?​

Accepted Answer

A) ​Increasing international travel 
B) ​Increasing consumer spending in the United States 
C) ​Greater interdependence of the world's economies 
D) ​Increasing economic clout of special interest groups 
E) ​Changing political leadership in China 
A) ​Increasing international travel 
B) ​Increasing consumer spending in the United States 
C) ​Greater interdependence of the world's economies 
D) ​Increasing economic clout of special interest groups 
E) ​Changing political leadership in China

Question 11

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 12

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 13

Enterprise Rent-A-Car has invested in new equipment to reduce their carbon footprint and conserve energy.A large percentage of Enterprise's airport shuttle buses use cleaner fuel such as biodiesel.Focusing on reducing their carbon footprint is one way that Enterprise is demonstrating __________.

Accepted Answer

A) ​social responsibility 
B) ​carbon dating 
C) ​environmental consciousness 
D) ​strategic conservation 
A) ​social responsibility 
B) ​carbon dating 
C) ​environmental consciousness 
D) ​strategic conservation

Question 14

​When you first learn that your firm's new Chief Marketing Officer has announced a major push to collaborate with international suppliers,you are confused.In your last job,suppliers were viewed as adversaries who were always increasing their prices and driving up the company's costs.But in a podcast distributed to all employees,you feel the CMO effectively explains this move as part of a broader relationship marketing strategy.Which point(s)does she make?

Accepted Answer

A) ​She has identified a group of vendors who regularly discount their prices. 
B) ​By collaborating with international suppliers, she hopes to create a price discounting model that will improve relationships with US suppliers. 
C) ​The company can avoid certain US taxes by buying from suppliers abroad. 
D) ​She plans to use strategic alliances with suppliers to create competitive advantages. 
E) ​This move involves a nontraditional supply strategy, which goes hand in hand with a relationship marketing strategy. 
A) ​She has identified a group of vendors who regularly discount their prices. 
B) ​By collaborating with international suppliers, she hopes to create a price discounting model that will improve relationships with US suppliers. 
C) ​The company can avoid certain US taxes by buying from suppliers abroad. 
D) ​She plans to use strategic alliances with suppliers to create competitive advantages. 
E) ​This move involves a nontraditional supply strategy, which goes hand in hand with a relationship marketing strategy.

Question 15

Which of the following is a characteristic which distinguishes profit-oriented firms from non-profit organizations?

Accepted Answer

A) ​Profit-oriented businesses tend to focus their marketing activities on one public - their customers 
B) ​Not-for-profit organizations seek to generate revenues above and beyond their costs to make money for all stakeholders involved 
C) ​Not-for-profit organizations do not market tangible goods 
D) ​Profit-oriented businesses often operate as a monopoly in their industry 
A) ​Profit-oriented businesses tend to focus their marketing activities on one public - their customers 
B) ​Not-for-profit organizations seek to generate revenues above and beyond their costs to make money for all stakeholders involved 
C) ​Not-for-profit organizations do not market tangible goods 
D) ​Profit-oriented businesses often operate as a monopoly in their industry

Question 16

According to the text,once a company's customers have become "loyal supporters",the company should seek to further the relationship with those customers so that they become _______.

Accepted Answer

A) ​advocates 
B) ​referral generators 
C) ​clients 
D) ​repeat purchasers 
A) ​advocates 
B) ​referral generators 
C) ​clients 
D) ​repeat purchasers

Question 17

The basic objective of place marketing is to:

Accepted Answer

A) attract visitors or new businesses to a particular area. 
B) influence others to accept the goals of the sponsoring organization. 
C) convince people to attend a sporting or cultural event. 
D) bring to the attention of the public some charitable issue. 
A) attract visitors or new businesses to a particular area. 
B) influence others to accept the goals of the sponsoring organization. 
C) convince people to attend a sporting or cultural event. 
D) bring to the attention of the public some charitable issue.

Question 18

Match each definition to the corresponding term.
-The concert of a French rock band was promoted by a certain firm in the United States.This is an example of _____.

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 19

The emergence of the marketing concept can best be explained by:

Accepted Answer

A) higher production levels. 
B) greater sophistication in the production of goods. 
C) the shift from a seller's market to a buyer's market. 
D) a focus on product quality. 
A) higher production levels. 
B) greater sophistication in the production of goods. 
C) the shift from a seller's market to a buyer's market. 
D) a focus on product quality.

Question 20

Match each definition to the corresponding term.
-The moral standards of behavior expected by a society are 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

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

Some Florida drivers have license plates that say "Save the Manatee." This is an example of _____ marketing.

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping.What type of utility are banks creating for customers?

The advent of a strong buyer's market created the need for consumer orientation by businesses.

Explain the exchange and distribution functions of marketing.

Indigo Ltd.wanted to increase its customers by applying the marketing concept.Which of the following would be an appropriate way to apply this approach?

Marketing is the indirect connection between a firm and its customers.

When a firm contributes to environment protection and human welfare programs,which type of behavior is it exhibiting?

Marketers have been forced to adopt a more global perspective with their strategies.Which of the following is a key factor in driving this change?

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

Enterprise Rent-A-Car has invested in new equipment to reduce their carbon footprint and conserve energy.A large percentage of Enterprise's airport shuttle buses use cleaner fuel such as biodiesel.Focusing on reducing their carbon footprint is one way that Enterprise is demonstrating __________.

Which of the following is a characteristic which distinguishes profit-oriented firms from non-profit organizations?

According to the text,once a company's customers have become "loyal supporters",the company should seek to further the relationship with those customers so that they become _______.

The basic objective of place marketing is to:

Match each definition to the corresponding term. -The concert of a French rock band was promoted by a certain firm in the United States.This is an example of _____.

The emergence of the marketing concept can best be explained by:

Match each definition to the corresponding term. -The moral standards of behavior expected by a society are known as _____.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

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

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

Some Florida drivers have license plates that say "Save the Manatee." This is an example of _____ marketing.

Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping.What type of utility are banks creating for customers?

The advent of a strong buyer's market created the need for consumer orientation by businesses.

Explain the exchange and distribution functions of marketing.

Indigo Ltd.wanted to increase its customers by applying the marketing concept.Which of the following would be an appropriate way to apply this approach?

Marketing is the indirect connection between a firm and its customers.

When a firm contributes to environment protection and human welfare programs,which type of behavior is it exhibiting?

Marketers have been forced to adopt a more global perspective with their strategies.Which of the following is a key factor in driving this change?​

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

Enterprise Rent-A-Car has invested in new equipment to reduce their carbon footprint and conserve energy.A large percentage of Enterprise's airport shuttle buses use cleaner fuel such as biodiesel.Focusing on reducing their carbon footprint is one way that Enterprise is demonstrating __________.

Which of the following is a characteristic which distinguishes profit-oriented firms from non-profit organizations?

According to the text,once a company's customers have become "loyal supporters",the company should seek to further the relationship with those customers so that they become _______.

The basic objective of place marketing is to:

Match each definition to the corresponding term. -The concert of a French rock band was promoted by a certain firm in the United States.This is an example of _____.

The emergence of the marketing concept can best be explained by:

Match each definition to the corresponding term. -The moral standards of behavior expected by a society are known as _____.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Marketers have been forced to adopt a more global perspective with their strategies.Which of the following is a key factor in driving this change?