chapter 1

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e-mail in order to participate, the radio station is a,. Offering an exchange b. Implementing a CRM program c. Overstepping its role d. Behaving unethically e. Hoping to receive feedback

a,. Offering an exchange

The fundamental goal of marketers when creating goods, services, or combinations of both is to a. Create value b. Stimulate short term sales c. Defeat the competition d. Operate according to government regulations e. Serve all consumers

a. Create value

Which of the following is true of marketing? a. Marketing affects various stakeholders b. Marketing plays no role in creating value c. Marketing is about satisfying the companies needs and wants d. Marketing is performed by organizations, not individuals e. Marketing requires place, product, promotion, and perception decisions

a. Marketing affects various stakeholders

During the ________ era, firms had excess capacity and used personal selling and advertising to generate customers a. Sales oriented b. Retailing oriented c. Market oriented d. Value based marketing e. Production oriented

a. Sales oriented

Marketing channel management is also known as a. Supply chain management b. Wholesaling c. Production management e. Endless chain marketing d. A transactional orientation

a. Supply chain management

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes a. The value of their time and energy b. The savings to the store of not having to display the products neatly on shelves c. When the product was listed at full price and didn't sell d. Only the actual price they pay at the register e. The excitement they experience in finding an item they desire

a. The value of their time and energy

A relational orientation is based on the philosophy that buyers and sellers develop a. A price value comparison matrix b. A long term relationship c. A complete understanding of one another's needs d. A marketing value transaction focus e. Supply chain synergy

b. A long term relationship

Dylan bought a sport jacket from a retail store. Which type of transaction was Dylan participating in? a. C2C b. B2C c. R2C d. C2B e. B2B

b. B2C

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the ________ era of marketing a. Sales oriented b. Production oriented c. Market oriented d. Value based marketing e. Retailing oriented

b. Production oriented

Cliff sells construction equipment. Whenever he calls on his building contractor customers, he asks if they are having any problems. In doing so, Cliff is addressing which of the following core aspects of marketing? a. Creating value b. Satisfying customer needs and wants c. Completing the exchange function of marketing d. Making product, place, promotion, and price decisions e. Making decisions about the setting in which marketing takes place

b. Satisfying customer needs and wants

Francine, the delivery and sales representative for a wine distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected home and table event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Francine is providing the important marketing function of a. Business to business marketing b. Supply chain management c. Communicating the value proposition d. Customer relationship management e. Capturing value

b. Supply chain management

Social media is of increasing importance. About ________ of the world's population uses Facebook a. 20 percent b. 50 percent c. 30 percent d. 60 percent e. 80 percent

c. 30 percent

Elaine was tired of her leather pocketbook, so she sold it to her friend, Jeannie. This is an example of ________ marketing a. C2B b. B2B c. C2C d. B2C e. BBC

c. C2C

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase ________ marketing a. C2B b. B2B c. C2C d. Underground e. B2C

c. C2C

Marketing enriches society by a. Recognizing that the firm can do very little by itself, and so it should stay focused on its own core competencies b. Facilitating the smooth flow of goods through the supply chain c. Creating charitable campaigns d. Focusing solely on maximizing profits e. Coordinating marketing functions with other functional areas in the company

c. Creating charitable campaigns

When Starbucks sells its coffee and mugs to the public on its website, it is a ________ sale a. C2C b. B2B c. C2B d. C2F e. B2C

e. B2C

Justine offers design and consulting services on a fee-only basis. She has found that different customers are willing to pay different rates for her services. This shows that her pricing decisions should depend primarily on a. How different customers perceive the value of her services b. Changes in technology allowing consumers to manage their own affairs c. How much her competitors charge for similar services d. Choosing an average price that she will charge all her clients e. Changes in the economy

a. How different customers perceive the value of her services

By using social media ________ on their mobile phones, customers can check in with HappyCow to find nearby vegetarian restaurants. a. Location based apps b. Influencer c. Rating sites d. Group chat e. Coupon

a. Location based apps

Marketing traditionally has been divided into a set of four interrelated decisions and consequent actions known as the a. Marketing fundamental b. Marketing channels c. Marketing mix d. Target markets e. Marketing philosophies

c. Marketing mix

Jeffrey is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeffrey has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeffrey still need to work on? a. Price b. Planning c. Place d. Promotion e. Product

c. Place

_______ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response a. Placement b. Pricing c. Promotion d. Value cocreation e. A relational orientation

c. Promotion

During the ________ era, firms had excess capacity and used personal selling and advertising to generate customers a. Value based marketing b. Retailing oriented c. Sales oriented d. Market oriented e. Production oriented

c. Sales oriented

Social media is of increasing importance. About ________ of the world's population uses Facebook a. 20 percent b. 60 percent c. 80 percent d. 30 percent e. 50 percent

d. 30 percent

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though they could charge much more due to the huge increase in demand. These firms probably recognize that? a. None of their competitors would be raising prices b. They can make more money from government contracts than from sales to customers c. If they raised prices they would be in violation of commerce department regulations d. Lifetime profitability of relationships matter more than profits from a particular transactions e. A transactional orientation is the key to long term profitability

d. Lifetime profitability of relationships matter more than profits from a particular transactions

Many U.S. companies first discovered marketing during the ________ era a. Sales oriented b. Production oriented c. Value based marketing d. Market oriented e. Retailing oriented

d. Market oriented

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of not creating a(n) a. Value proposition b. Advertising campaign c. Profit center d. Marketing plan e. Social media campaign

d. Marketing plan

________ represents all the activities necessary to get the product to the right customer when that customer wants it a. Promotion b. Social media c. Supply chain marketing d. Place e. Value cocreation

d. Place

The prevailing marketing strategy of the ________ era was to find customers for inventories that went unsold a. Retailing oriented b. Value based marketing c. Production oriented d. Sales oriented e. Market oriented

d. Sales oriented

Makenna, the outside sales rep for a brick and stone company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Makenna will help her company become more value-driven if she a. Avoids contacting her customers until the slowdown ends b. Avoids contact with competing firms in order to maximize value driven marketing c. Keeps the information to herself d. Pushes her customers to buy products whether they need them or not e. Advises the production and purchasing departments to produce or order smaller quantities of products

e. Advises the production and purchasing departments to produce or order smaller quantities of products

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing a. B2C; B2B b. C2C; B2C c. B2B; C2C d. B2C; C2C e. B2B; B2C

e. B2B; B2C

The process of value ________, in which customers collaborate in product design, often provides additional value to the firm's customers a. Based marketing b. Positioning c. Delivery d. Chain management e. Cocreation

e. Cocreation

Eugene uses a database software system to remind him when his customers should be ready for their next lawn and/or garden service. With this reminder system, Eugene contacts his customers when they are most likely to be "in the buying mode." Eugene's system is part of a. Typical production era marketing practices b. Supply chain management c. C2C marketing d. A transactional marketing orientation e. Customer relationship management

e. Customer relationship management

Data about how, when, why, where, and what people buy refers to a. Value based marketing b. Demographics c. Statistics d. Relational orientation e. Marketing analytics

e. Marketing analytics

Jeffrey is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeffrey has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeffrey still need to work on? a. Promotion b. Planning c. Product d. Price e. Place

e. Place

Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including product, place, price, and a. Promise b. Performance c. Production d. Presentation e. Promotion

e. Promotion

Near the end of the model year, the Like New automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Like New operates as if it were in the ________ era a. Value based marketing b. Production oriented c. Retailing oriented d. Market oriented e. Sales oriented

e. Sales oriented

What type of firms recognize that including a strong social orientation in business is a sound strategy that is in both its own and its customers' best interest? a. Tech savvy firms b. Mobile marketing firms c. Supply chain management firms d. Internet firms e. Socially responsible firms

e. Socially responsible firms

Marketing channel management is also known as a. Wholesaling b. Endless chain marketing c. Production management d. A transactional orientation e. Supply chain management

e. Supply chain management

Even though they operate on a limited schedule and offer few extra services, discount, no-frill airlines like Allegiant have been successful. Consumers obviously consider a. The extra services offered by these airlines to be the most thorough in the industry b. The prices to be slightly lower, but not low enough to have much influence c. The major airlines to be worthless d. The long term relationships established by these airlines to be a critical benefit e. The benefit of lower prices to be greater than the cost of reduced services and less convenience

e. The benefit of lower prices to be greater than the cost of reduced services and less convenience

Dana has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Scott, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Scott's approach is based on a. Special incentives from tour operators b. His seniority at the firm c. Premium pricing d. Transaction oriented marketing e. Value cocreation

e. Value cocreation`