MKT-113 Chapter 1 (online)

A __________ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. a. marketing strategy b. marketing program c. macromarketing program d. micromarketing program e. sales promotion

B

A(n) __________ is a felt need that is shaped by a person's knowledge, culture, and personality. a. need b. want c. exchange d. customer's value e. market segment

B

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The result is called the: a. marketing strategy. b. marketing program. c. macromarketing program. d. micromarketing program. e. marketing concept.

B

Nike aired a series of commercials advertising their newest athletic shoe for women. Nicholas found the commercials highly entertaining and told his friends at work about them. Was this a marketing exchange? a. Yes, because Joe did not do any comparative shopping. b. No, because Joe did not purchase shoes. c. Yes, because Joe can buy shoes for women in his household. d. No, because the commercials were targeting women and Nicholas is a man. e. Yes, because the commercials were effective and created word-of-mouth advertising.

B

Potential consumers make up a market. A market consists of people with a(n) __________ and __________ to buy a specific product. a. need; want b. desire; ability c. need; desire d. need; ability e. ability; authority

B

The __________ department of an organization is responsible for facilitating relationships, with the organization's customers, its shareholders, its suppliers, and other organizations. a. purchasing b. marketing c. human resources d. accounting e. advertising

B

The __________ is the idea that an organization should strive to satisfy the needs of customers while also trying to achieve the organization's goals. a. concept of synergy b. marketing concept c. principle of consumerism d. societal marketing concept e. selling concept

B

The text explains that the two central concerns of marketing are: a. market share and customer satisfaction. b. discovering and satisfying consumer needs. c. promotion and sales. d. maximizing an organization's sales and products. e. needs and wants.

B

A(n) __________ occurs when a person feels physiologically deprived of basic necessities. a. need b. want c. exchange d. environmental factor e. market segment

A

All markets ultimately are composed of: a. people. b. needs. c. products. d. abilities to buy. e. desires.

A

Best price, best product, and best service are strategies designed to create: a. customer value. b. a diverse marketing mix c. a marketing concept. d. relationship marketing. e. ultimate consumers.

A

The first task of marketing is to: a. discover the needs of consumers. b. discover the needs of competitors. c. discover the needs of sellers. d. satisfy the needs of regulators. e. satisfy the needs of watchdog groups.

A

What are the four Ps of the marketing mix? a. Product, price, promotion, place b. Product, price, popularity, profit c. Product, principle, promotion, production d. Principle, production, promotion, possibility e. Principle, price, production, place

A

When should a marketer make a careful study of product failures? a. When preparing to launch a new product b. After a new product has failed to meet sales predictions c. When repositioning a well-known brand d. When looking for a new market for an existing product e. In any or all of the above conditions

A

Which of the following businesses is LEAST likely to be able to engage in relationship marketing? a. A beach shop that sells tourist mementos b. A local restaurant that specializes in home-cooking c. A convenience store d. A movie theater e. A veterinarian

A

Which of the following statements best defines needs and wants? a. Needs occur when a person feels physiologically deprived of something, and wants are determined by a person's knowledge, culture, or personality. b. Wants are a subset of needs. c. Wants occur when a person feels physiologically deprived of something, and needs are determined by a person's knowledge, culture, or personality. d. Needs affect marketing, but wants do not. e. By definition, wants are more socially responsible than needs.

A

Which of the following statements describes an environmental factor? a. Several states have legislation requiring children under four to use car seats. b. A car battery comes with a lifetime guarantee. c. An automobile offers a $500.00 rebate. d. Tupperware has more than 200,000 independent contractor dealers who market its entire product line. e. A major bottler offers a 10-cent refund on returnable bottles.

A

__________ is a trade of things of value between buyer and seller so that each is better off. a. Exchange b. Needs assessment c. Consumerism d. Utility e. Commerce

A

Which of the following acts as a barrier to the development of relationship marketing? a. changes in the demographic nature of society b. the ever-increasing usage of the Internet for consumer purchases c. the onset of new cultural traditions d. a population with a median age of 50 e. recent terrorists' activities

B

Which of the following is an example of a good? a. An airline flight b. A new dining room set c. A blood donation to the American Red Cross d. Participation in the Multiple Sclerosis Walk e. All of the above are examples of goods

B

A marketing manager's controllable factors—product, price, promotion, and place—are the company's: a. environmental factors. b. marketing program. c. marketing mix factors. d. marketing concept. e. four utilities.

C

After discovering consumers' needs, marketing's next task is to: a. create a target market mission statement. b. determine consumer demographics. c. translate information about consumer needs into products that satisfy them. d. design product prototypes. e. develop a value strategy.

C

An educational software company is developing a new line of computer software to teach preschoolers letter and number recognition. What is the market for this new product? a. Preschoolers b. Adults c. Adults with preschool-aged children d. Adults who want to buy and have the means to buy computer software for preschoolers e. All of the above are potential markets for the new product

C

Marketing is developing, pricing, _____________, and _____________ goods, services, and ideas to satisfy the needs of consumers. a. promoting, branding b. branding, distributing c. promoting, distributing d. branding, selling e. promoting, selling

C

Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange. In the field of marketing, exchange refers to the: a. place where people go to do business. b. place where people return unwanted goods. c. trade of things of value between buyer and seller so that each is better off. d. process of locating buyers and sellers. e. acquisition of something of value.

C

The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Afterwards, Amanda returned home feeling satisfied that she had performed a good deed. Was this a marketing exchange? a. No, because the Red Cross is a non-profit organization. b. Yes, because the Red Cross ran an advertisement. c. Yes, because the donated blood was exchanged for a feeling of satisfaction. d. No, because no money was exchanged. e. No, because the Red Cross did not provide Amanda with a product.

C

The four Ps are commonly known as: a. the environmental or uncontrollable factors. b. the environmental or controllable factors. c. the marketing mix or controllable factors. d. the marketing mix or uncontrollable factors. e. product, price, promotion, and process.

C

To serve both buyers and sellers, marketing seeks to discover the needs and wants of prospective customers and to: a. change them. b. take advantage of them. c. satisfy them. d. manipulate them. e. define real and artificial buying situations.

C

Which of the following is true regarding the marketing process? a. Its exchanges satisfy consumers only. b. Its exchanges satisfy sellers only. c. Its exchanges satisfy both consumers and sellers. d. It is synonymous to advertising. e. It is synonymous to personal selling.

C

Which of the following statements about relationship marketing is true? a. Relationship marketing has a short-term focus on increasing profits. b. Relationship marketing is easy to implement. c. In an ideal setting, relationship marketing is a personal, ongoing, long-term relationship. d. Very few companies today are engaged in relationship marketing. e. The Internet is an ideal forum for relationship marketing.

C

__________ is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service. a. Market potential b. Relationship marketing c. Customer value d. Marketing mix e. Customer relationship management

C

What is the percentage of launches of new consumable products that are unsuccessful in the long run? a. 45 - 55% b. 50 - 75% c. 64 - 90% d. 80 - 94% e. 99%

D

A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. The refrigerator offers the youngsters many alternatives—soft drinks, fruit drinks, sport drinks and bottles of Sunny Delight drink. The ad, which shows the teens happily selecting Sunny Delight over all the other product offerings, appeals to the consumers' __________ for liquid and attempts to shape consumers' __________ for the advertised product. a. wants; needs b. wants; preferences c. preferences; needs d. needs; wants e. needs; preferences

D

Forces that are largely beyond the control of the marketing department and its organization are called: a. the four Ps. b. the marketing mix. c. controllable factors. d. environmental factors. e. utilities.

D

One or more specific groups of potential consumers toward which an organization directs its marketing program is a: a. mass market. b. tangent market. c. market aggregation. d. target market. e. promotional market.

D

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix? a. product b. price c. promotion d. place e. process

D

The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is: a. product. b. price. c. promotion. d. place. e. process.

D

The first task of marketing is to discover consumer: a. diversity. b. ability to pay. c. objectives. d. needs. e. synergy.

D

The five major environmental factors in marketing are: a. air, water, soil, mineral, and gas. b. consumer, retailer, manufacturer, organization, and society as a whole. c. product, price, promotion, place, and process. d. social, technological, economic, competitive, and regulatory. e. natural resources, weather, social awareness, economic factors, and regulation.

D

The four outside groups that exert important direct influences on an organization consist of: a. Politicians, regulators, minority groups, and consumer monitoring groups b. Competitors, industry trade associations, non-profit organizations, and governmental agencies, such as the EPA and FTC c. Senior management, the legal department, the marketing department, and other employees of the organization d. Other organizations, suppliers, shareholders (owners), and customers e. Owners, employees, regulatory groups, and competitors

D

The term market is best defined as: a. people with a need and a want for a product. b. organizations with the need and desire for a product. c. organizations with products which satisfy people's needs and wants. d. people with both the desire and ability to buy a specific product. e. people with the desire and the need for a product.

D

Which of the following is an example of a service? a. A new mini van b. A donation to a church c. Wearing a ribbon for Breast Cancer Awareness d. Professional landscaping of a front yard e. All of the above are examples of services

D

Which of the following would a marketer use as a synonym for controllable marketing mix factors? a. the five external environmental forces b. macromarketing forces c. the five Cs d. the four Ps e. price, product, production, and promotion

D

_______ is developing, pricing, promoting, and distributing goods, services, and ideas to satisfy the needs of customers a. creative planning b. advertising c. selling d. marketing e. consumerism

D

__________ links an organization to its individual customers, employees, suppliers and other partners for their mutual long-term benefits. a. A marketing chain b. Holistic marketing c. Synergistic marketing d. Relationship marketing e. Tactical marketing

D

Alex is three-years old and has a very limited number of foods that he will eat. His mother will often fill his plate with one small helping of an item that he really likes and one small helping of an item he doesn't like. To get more macaroni and cheese, he must eat his green beans. In marketing terms, the macaroni and cheese is an example of a __________ because it is something he has learned to like. a. desire b. need c. predilection d. reward e. want

E

Customer value emphasizes: a. convenience. b. price. c. quality. d. service (before-sale and after-sale). e. all of the above.

E

In marketing, the most common meaning of a market is: a. a store that sells groceries. b. any place consumers can buy things. c. a particular line of products or specific line of merchandise for sale. d. a group of companies that have goods for sale. e. people with both the desire and the ability to buy a specific product.

E

Organizations are comprised of various departments. With which of the following does the marketing department interact? a. Finance b. Information systems c. Manufacturing d. Research and development e. All of the above

E

The marketing concept has a focus on: a. the competition. b. environmental forces beyond the control of the marketing department. c. the Four Ps. d. selling. e. the consumer.

E