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1 | |
__________________ is the extent to which a firm fulfills a customer's needs, desires, and expectations. |
| | A) | Form utility |
| | B) | Production |
| | C) | Customer satisfaction |
| | D) | Micro marketing |
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2 | |
The five kinds of economic utilities supplied by production and marketing are the: form, task, time, place and possession utilities. |
| | A) | True |
| | B) | False |
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3 | |
Possession utility is provided when: |
| | A) | A good or service is obtained and there is a right to use or consume it |
| | B) | A product is available where someone wants it |
| | C) | Someone performs a task for someone else |
| | D) | Someone produces something tangible |
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4 | |
Marketing is either a set of activities performed by organizations, or a social process, but NOT both. |
| | A) | True |
| | B) | False |
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5 | |
The performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services to a customer or client is: |
| | A) | A planned economic system |
| | B) | Macro-marketing |
| | C) | Micro -marketing |
| | D) | An intermediary |
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6 | |
There are two (2) basic kinds of economic systems. They are: |
| | A) | Planned and spontaneous |
| | B) | Market directed and pure subsistence |
| | C) | Planned and market-directed |
| | D) | None of the above |
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7 | |
"Counter-trade" is a special type of bartering which many firms use to overcome the problems of trade restrictions. |
| | A) | True |
| | B) | False |
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8 | |
Which of the following is NOT an objective of the World Trade Organization (WTO) agreements? |
| | A) | To help the free-flow of trade |
| | B) | To facilitate additional negotiation |
| | C) | To provide an impartial means of settling disputes |
| | D) | To encourage the development of a common international currency |
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9 | |
The universal functions of marketing include: |
| | A) | Buying, selling and risk taking |
| | B) | Transporting, standardization and grading |
| | C) | Storing, financing, and market information |
| | D) | All of the above |
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10 | |
From a macro-level viewpoint, responsibility for performing the marketing functions can be shifted and shared in a variety of ways, but no function can be completely eliminated. |
| | A) | True |
| | B) | False |
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11 | |
Production is an important economic activity, and most often, if a firm has a good product, their business will be a success. |
| | A) | True |
| | B) | False |
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12 | |
Marketing should begin with |
| | A) | Potential customer needs |
| | B) | The production process |
| | C) | Both a & b |
| | D) | None of the above |
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13 | |
A social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society is called _______________________. |
| | A) | Micro-marketing |
| | B) | Macro-marketing |
| | C) | Global-marketing |
| | D) | Planned economic system |
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14 | |
______________ is the way an economy organizes to use scarce resources and produce goods and services and distribute them for consumption by various people and groups in the society. |
| | A) | An economic system |
| | B) | A resource allocation system |
| | C) | A micro-macro dilemma |
| | D) | Macro-marketing |
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15 | |
Tariffs are taxes on products that are imported and exported to and from a country. |
| | A) | True |
| | B) | False |
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16 | |
Firms that provide marketing functions other than buying or selling include advertising agencies, marketing research firms, independent product-testing laboratories, and Internet service providers. These firms are known as _________________. |
| | A) | Enhancers |
| | B) | Facilitators |
| | C) | Adjuncts |
| | D) | Coordinators |
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17 | |
Exchanges between individuals or organizations - and activities that facilitate those exchanges - based on applications of information technology are called ___________. |
| | A) | Internet commerce |
| | B) | E-commerce |
| | C) | Web commerce |
| | D) | High-tech commerce |
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2003 McGraw-Hill Higher Education