mkt 303, ch 1 question set

Which of the following are types of separation that marketing helps overcome? (Check all that apply.) Multiple select question. Separation in time Separation of responsibility Separation of technology Separation of ownership Spatial separation

separation in time separation of ownership spatial separation

The macro view of marketing sees marketing as a(n) ______ process. Multiple choice question. organization-based social highly localized potential

social

Which of the following statements about marketing functions are true? (Check all that apply.) Multiple select question. Marketing collaborators perform only the market information function. Pure services emphasize the storage function. The universal functions may be shared across multiple organizations. The government never performs any of the universal functions. All the universal functions of marketing must be performed well or the macro-marketing system will be harmed.

the universal functions may be shared across multiple organizations all the universal functions of marketing must be performed well or the macro-marketing system will be harmed

True or false: For some goods and services, the cost of marketing accounts for about half of what the consumer pays for them. True false question.

true

Marketing requires that ______. Multiple choice question. e-commerce be used collaborators facilitate the buying process intermediaries specialize in trade two or more parties be willing to engage in an exchange

two or more parties be willing to engage in an exchange

The processes of buying, selling, shipping, storing, financing, and risk-taking are components within the ______ functions of marketing. Multiple choice question. domestic universal standard specialized

universal

A marketing exchange is ______. Multiple choice question. a single transaction a one-way activity usually part of an ongoing relationship not related t continuing sales

usually part of an ongoing relationship

Which of the following are the basic ways of viewing marketing? (Check all that apply.) Multiple select question. From a macro view, as a function of society From a micro view, as a function carried out by companies From a macro view, as a fundamental component of any organization From a micro view, as the guiding economic strategy of society

From a macro view, as a function of society From a micro view, as a function carried out by companies

Which of the following are benefits of having an understanding of marketing? (Check all that apply.) Multiple select question. Helping you to be more effective in your job Giving you ideas about how to sell your ideas in a new job Seeing how marketing relates to a variety of human activities Providing insights about tax rates Justifying not getting work done on time

helping you to be more effective in your job giving you ideas about how to sell your ideas in a new job seeing how marketing relates to a variety of human activities

Marketing spurs , which means coming up with new ideas, goods, and services.

innovation

______ is the creation and adoption of new ideas, goods, and services. Multiple choice question. Marketing Economic growth Customer satisfaction Innovation

innovation

Retailers and wholesalers are two kinds of ______, marketing specialists who play a role in trade rather than production. Multiple choice question. transporters commerce specialists intermediaries value producers

intermediaries

Which of the following is a market specialist whose role in the exchange process is to focus on trade? Multiple choice question. Intermediary Producer Consumer Risk taker

intermediary

Which of the following accurately describes macro-marketing? Multiple choice question. It focuses on activities of individual managers. It is a type of supply chain. It is a social process. It addresses discrepancies of separation.

it is a social process

Which of the following is not true about marketing? Multiple choice question. It starts with an evaluation of potential customer needs. It builds long-lasting relationships that benefit buyers and sellers. It should take control of production, accounting, and finance in order to be more effective. It can apply to nonprofit organizations.

it should take control of production, accounting, and finance in order to be more effective

Marketing will be beneficial to you, as a student, because _____. Multiple choice question. it provides the foundation for all finance courses it's an easy course to take these skills focus on technology it will help you to promote yourself

it will help you to promote yourself

______ refers to the social process that is concerned with matching supply and demand and meeting the needs of society by doing so. Multiple choice question. The subsistence process Social responsiveness Macro-marketing Micro-marketing

macro marketing

The universal functions of marketing include which of the following? (Check all that apply.) Multiple select question. Producing Market information Consuming Selling Storing

market information selling storing

The activities in a firm that try to identify customer needs and focus the flow of goods or services in the firm in order to meet those needs is called

marketing

Which of the following involves meeting the goals of an organization by anticipating customer needs and ensuring that the organization's products or services can help satisfy those needs? Multiple choice question. Production Economic development Marketing Innovation

marketing

Which of the following are reasons why marketing can be important for future employment? (Check all that apply.) Multiple select question. Marketing can show how to accurately calculate depreciation. Marketing can help in getting a job. Marketing can help you learn new software efficiently. Marketing can help in selling your ideas in a new job.

marketing can help in getting a job marketing can help in selling your ideas in a new job

Which of the following are true with respect to marketing and production? (Check all that apply.) Multiple select question. Marketing investigates what the future needs of customers might be. Production should drive decisions about after sales service and installation. Production assesses customer needs and determines prices, whereas marketing focuses on advertising and selling. Marketing can determine needs, but production should determine which goods and services are produced. Marketing starts with the potential needs of customers.

marketing investigates what the future needs of customers might be marketing starts with the potential needs of customers

Which one of the following statements describing marketing is correct? Multiple choice question. Marketing is little more than selling and advertising. The focus of marketing tends to shift between producing and advertising. Marketing is primarily concerned with distribution of products. Marketing involves more than just selling or advertising.

marketing involves more than just selling or advertising

Which of the following statements are true about the usefulness of studying marketing? (Check all that apply.) Multiple select question. Knowing marketing principles is useful in understanding manufacturing technology. Marketing offers many interesting jobs. Marketing concepts can help "sell" yourself to a potential employer. Understanding marketing has no value to people in nonmarketing jobs.

marketing offers many interesting jobs marketing concepts can help "sell" yourself to a potential buyer

The ______ view of marketing is concerned with marketing as performed by individual companies. Multiple choice question. macro micro production-distribution low-level

micro

The term production refers to which of the following? (Check all that apply.) Multiple select question. Marketing Performing services Forecasting Making goods Innovation

performing services making goods

Effective marketing should start with ______. Multiple choice question. potential customer needs what can be easily produced setting prices persuasive selling and advertising

potential customer needs

Which of the following is not a type of separation that marketing can help overcome? Multiple choice question. Separation in values Separation of information Separation in innovation Separation of ownership

separation in innovation

Which of the following is not a type of separation that marketing can help overcome? Multiple choice question. Separation of information Separation of ownership Separation in values Separation in innovation

separation in innovation

In advanced economies, challenges to producer-consumer exchange include which of the following? (Check all that apply.) Multiple select question. Separation of intermediaries Separation in time Discrepancies in collaborator capabilities Separation of ownership

separation in time separation of ownership

Marketing ideas are used to promote which of the following? (Check all that apply.) Multiple select question. Entrepreneurs Charities Political parties Assembly lines

Entrepreneurs Charities Political parties

Match the marketing function (on the top) with its description (on the bottom). - Transporting - Market information function - Selling function - Risk taking - Standardization and grading - Storing - Buying function - seeking and evaluating goods and services - taking goods from one location to another - gathering and handling the data needed for marketing activities - taking on the potential negative consequences of the marketing process - keeping goods until they are acquired by customers - categorizing goods according to specific characteristics - promoting to potential buyers

- Transporting; taking goods from one location to another - Market information function; gathering and handling the data needed for marketing activities - Selling function; promoting to potential buyers - Risk taking; taking on the potential negative consequences of the marketing process - Standardization and grading; categorizing goods according to specific characteristics - Storing; keeping goods until they are acquired by customers - Buying function; seeking and evaluating goods and services

Which of the following are reasons for studying marketing? (Check all that apply.) Because marketing costs can be an important part of a product's price, we should know what we are paying for. Marketing provides a detailed breakdown of a company's bottom line. Marketing helps ensure that the things we buy are available when we need them. We are all consumers, so we should learn about buying and selling.

Because marketing costs can be an important part of a product's price, we should know what we are paying for. Marketing helps ensure that the things we buy are available when we need them. We are all consumers, so we should learn about buying and selling.

Which of the following statements about marketing are correct? (Check all that apply.) Multiple select question. Marketing ends with identifying customer needs. Marketing is more than just persuading customers. Marketing builds relationships with customers. Marketing applies to profit but not nonprofit organizations.

Marketing is more than just persuading customers. Marketing builds relationships with customers.

Which of the following are true with respect to exchange in marketing? (Check all that apply.) Multiple select question. A customer must exchange money for an exchange to occur. Marketing can occur with one party. Sellers offer to exchange something that meets a need. Marketing involves a willingness of at least two parties to engage in exchange.

Sellers offer to exchange something that meets a need. Marketing involves a willingness of at least two parties to engage in exchange. A customer must exchange money for an exchange to occur.

Which of the following statements are true with respect to marketing and nonprofit organizations? (Check all that apply.) Multiple select question. The clients of a nonprofit organization may be consumers or business firms. Marketing does not apply to the activities of nonprofit organizations. Government agencies can be customers of nonprofit organizations. The marketing objective for a nonprofit organization may be to increase membership.

The clients of a nonprofit organization may be consumers or business firms. Marketing does not apply to the activities of nonprofit organizations. Government agencies can be customers of nonprofit organizations.

Which of the following are part of the role of a macro-marketing system? (Check all that apply.) Multiple select question. To match heterogeneous supply and heterogeneous demand To help ensure that the society's objectives are met To support at a basic level the separation of personal and corporate ethics To get products to consumers at the right time, place, and price

To match heterogeneous supply and heterogeneous demand To help ensure that the society's objectives are met To get products to consumers at the right time, place, and price

The purpose of ______ is to match supply and demand among the producers and consumers of society as a whole. Multiple choice question. a macro-marketing system a system of regulatory trade trade negotiations and treaties economies of scale

a macro marketing system

The purpose of ______ is to match supply and demand among the producers and consumers of society as a whole. Multiple choice question. a system of regulatory trade a macro-marketing system trade negotiations and treaties economies of scale

a macro marketing system

Discrepancies of ______ occurs because producers want to focus on making a narrow range of goods and services, whereas consumers prefer more variety. Multiple choice question. assortment quantity selection quality

assortment

The two goals of a marketing exchange are to ______. (Check all that apply.) Multiple select question. predict transportation needs for future sales. build an ongoing relationship with the customer. focus on single transactions. determine future production needs.

build an ongoing relationship with the customer determine future production needs

Marketing helps address what kinds of discrepancies between consumers and producers? (Check all that apply.) Multiple select question. Consumers want informative advertising, whereas producers prefer image advertising. Consumers want to buy in small quantities, whereas producers want to make and sell in large quantities. Consumers want high quality, whereas producers prefer to produce low quality. Consumers want 7-day/24-hour availability, whereas producers want shorter hours. Consumers want low prices, whereas producers want high prices. Consumers want a broad assortment, whereas producers want a narrow assortment.

consumers want to buy in small quantities, whereas producers want to make and sell in large quantities consumers want a broad assortment, whereas producers want a narrow assortment

Marketing will be most successful if it ______. Multiple choice question. coordinates with production, accounting, and financial activities takes direction from production, accounting and other financial activities ignores production, accounting, and financial activities allies with accounting to control production and financial activities

coordinates with production, accounting, and financial activities

Because producers find it easier and less costly to make only a few goods or services, and consumers prefer to choose among many, this creates a ______. Multiple choice question. discrepancy of assortment separation of information separation in transportation. discrepancy in retail

discrepancy of assortment

Because producers find it easier and less costly to make only a few goods or services, and consumers prefer to choose among many, this creates a ______. Multiple choice question. separation of information separation in transportation. discrepancy in retail discrepancy of assortment

discrepancy of assortment

The system by which a society is organized to produce goods and services and distribute them to the members of the society is called a(n) ______ system. Multiple choice question. economic production market regulation

economic

True or false: Management-oriented micro-marketing skills are only important to those who want to manage a major corporation.

false

True or false: Marketing today consists of just selling and advertising.

false

True or false: The National Cancer Society is an example of an organization that does not need to use marketing.

false

Why is effective marketing difficult in an advanced economy? Multiple choice question. Producers and consumers are commonly separated from each other in several ways. Production and consumption sectors become perfectly matched without help from marketing Producers and consumers typically share a common ground Producers and consumers have no interaction based on marketing

producers and consumers are commonly separated from each other in several ways

The term "______" refers specifically to manufacturing goods or performing services. Multiple choice question. production innovation marketing implementation

production

The term "______" refers specifically to manufacturing goods or performing services. marketing innovation implementation production

production

To be most effective, marketing should ______. (Check all that apply.) Multiple select question. take over production provide direction for production and finance interpret customer's needs be the most valuable department in a company

provide direction for production and finance interpret customer's needs

Marketing helps overcome which of the following discrepancies? (Check all that apply.) Multiple select question. Quantity Price Value Consumer choice Assortment

quantity assortment