Marketing Quiz 1

The marketing concept was introduced ________.

1950s

Which of the following action elements is required for successful Marketing (Big M)

Aligning all internal organizational processes and systems around the product

The marketing concept was first articulated in the Annual Report of ________.

General Electric

The stereotypical automobile dealership uses tactics like high pressure and bargaining to get customers to buy. This is an example of the ________ orientation.

Selling orientation - A sales orientation suggests that, to increase sales and consequently production capacity utilization, professional salespeople need to "push" product into the hands of customers, both businesses and end users.

Which of the following is LEAST likely to be true regarding marketing metrics?

The topic of marketing metrics has been one of the highest priorities for most MSI member companies.

A misconception about marketing is that it is ________.

all about selling

Marketing often doesn't get the "respect" it deserves as a professional field of study, primarily because

compared to other business functions, it has had few useful metrics to measure its performance impact

Peter Drucker, the father of modern management, believed that marketing __________.

create a customer

Hannah's alterations business works around the needs of the customer by providing hours of operation that vary throughout the week, including some evening and weekend hours. It could be said that Hannah's business is

customer-centric

Companies that promote sustainability practices like Starbucks, which has a stringent recycling program, or General Electric, which makes environmentally sensitive products, are practicing ________ marketing.

green

In order for Marketing (Big M) to succeed, firms should create ________ strategies.

market-driving

Of all the business fields, ________ is generally the most visible to people outside the organization.

marketing

Which of the following areas of business is highly public and readily visible outside the confines of the internal business operation?

marketing

________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

marketing

Everything from brand image, to the message sales people and advertisements deliver, to customer service, to packaging and product features, to the chosen distribution channel exemplify ________.

marketing (little m)

Shari's manager asked her to identify, track, evaluate, and provide key benchmarks for improvement in her marketing department. To do this, Shari used ___________.

marketing metics

The concept of engaging in a learning relationship with customers and directing the firm's resources to making each product or service as customized as possible is known as ________.

one-to-one marketing

The concept of supply chain management is considered to be part of the ________ of the marketing mix.

place

In the context of the marketing mix, ________ today is largely regarded in relationship to the concept of value.

price

In the context of the 4Ps of the marketing mix, high-tech media options like cell phones and the Internet have had a huge impact on ________.

product

Henry Ford is well known to business students for creating the assembly line that enabled mass production of the Model T. This is an example of the ________ orientation.

production

Today customers have limitless access to facts about companies, products, competitors, other customers, and even detailed elements of marketing plans and strategies. In the context of change drivers impacting the future of marketing, this reflects the ________.

shift in information power from marketer to customer

In the context of change drivers impacting the future of marketing, the way a firm looks at strategy and tactics is reflected in the ________.

shift to distinguishing Marketing (Big M) from marketing (little m)

Which of the following are two core marketing concepts?

supply and demand

In the context of change drivers impacting the future of marketing, marketing (little m) is also known as ________ marketing.

tactical marketing

From a customer's perspective, value is the ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits.

true