 |
| 1 | |
Which of the following statements best describes marketing? |
| | A) | It is a systematic approach to satisfying consumers. |
| | B) | It is just the selling and advertising of goods, services, and ideas. |
| | C) | It is a function that is not an important part of a firm's overall strategy. |
| | D) | It is a function independent of operations, finance, and other areas of management. |
| | E) | It is the process of manipulating consumers to get them to buy products they do not want. |
|
|
|
| 2 | |
Which of the following is true about the exchange relationship between businesses? |
| | A) | It is a voluntary relationship. |
| | B) | It is a coercive relationship. |
| | C) | It can only exist in the context of tangible items. |
| | D) | It always includes the exchange of money. |
| | E) | It is not characterized by the buyer feeling good about the exchange. |
|
|
|
| 3 | |
In the context of the functions of marketing, _____ refers to standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality. |
| | A) | scoring |
| | B) | benchmarking |
| | C) | grading |
| | D) | distributing |
| | E) | authenticating |
|
|
|
| 4 | |
In the context of the nature of marketing, which of the following statements accurately describes value? |
| | A) | It is the ratio between customer costs and customer benefits. |
| | B) | It is the sum of customer benefits and customer costs. |
| | C) | It is the average of customer benefits and customer utility. |
| | D) | It is the difference between customer benefits and customer costs. |
| | E) | It is the ratio between customer utility and customer benefits. |
|
|
|
| 5 | |
According to the marketing concept, a business should first: |
| | A) | develop innovative goods, services, or ideas. |
| | B) | find out what consumers desire. |
| | C) | develop what competitors are manufacturing. |
| | D) | work on its promotion strategy. |
| | E) | adapt its product lines to satisfy customers' desires. |
|
|
|
| 6 | |
In the context of the evolution of the marketing concept, which of the following was strong during the period of production orientation? |
| | A) | The demand for manufactured goods |
| | B) | The need to advertise or promote a product |
| | C) | The need to understand what customers desired |
| | D) | The need to build long-term relationships with customers |
| | E) | The manufacture of goods with ever decreasing efficiency |
|
|
|
| 7 | |
Cornet Candies Inc. was a confectionery manufacturer that established itself during the sales orientation period of the marketing concept. Which of the following was most likely true of Cornet Candies Inc. during that time? |
| | A) | It experienced frustration because demand exceeded supply. |
| | B) | It limited its advertising as it did not have to "sell" products to buyers. |
| | C) | It enjoyed monopoly in the market as mass production was not yet existent. |
| | D) | It believed that one of its most important marketing activities was advertising. |
| | E) | It recognized that efficient product and extensive promotion did not guarantee sales. |
|
|
|
| 8 | |
A _____ is best described as a specific group of consumers on whose needs and wants a company focuses its marketing efforts. |
| | A) | capital market |
| | B) | resource pool |
| | C) | control group |
| | D) | focus group |
| | E) | target market |
|
|
|
| 9 | |
In the context of market research, which of the following is typically considered to be primary data? |
| | A) | Information compiled for some purpose other than changing the current situation |
| | B) | Information retrieved from a marketing research firm's database |
| | C) | Information collected from a telephone survey about a product |
| | D) | Information gathered from sales and other internal reports |
| | E) | Information compiled by the U.S. census bureau |
|
|
|
| 10 | |
The public's opinions and attitudes toward issues such as living standards, ethics, the environment, lifestyles, and quality of life are a part of the _____ forces in the external marketing environment of a company. |
| | A) | social |
| | B) | economic |
| | C) | legal |
| | D) | competitive |
| | E) | political |
|
|
.