Principles of Marketing Chpt. 1 Quiz

​Which of the following is most likely to be an idea marketer?

Abuse counselor

​The definition of marketing implies that ____ should receive benefits from exchange relationships.

both customers and businesses

​Marketing is the process of

​creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

For an exchange to occur, at least one of the parties must be willing to give up his or her "something of value."

False

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.

False

Which of the following is the least uncontrollable factor in developing a marketing mix?

Government regulations

Kraft made the announcement that it was eliminating artificial food additives. Which of the following most likely influenced Kraft's decision?

Marketing environment

United Airlines introduced a new "basic economy" seat category to better compete with discount airlines like Southwest and Spirit. Which of the following aspects of the marketing mix is United likely altering?

Price

​A target market is a specific group of customers on whom an organization focuses its marketing efforts.

True

​For a business organization to remain healthy and to survive, it must sell products and make profits.

True

​Marketing consists primarily of selling and advertising.

True

​The market concept stresses that an organization can best achieve its objectives by being customer-oriented.

True

Which of the following companies is the best example of a service marketer?

UPS

The public is becoming more aware of how marketers' activities affect the welfare of consumers and society. As a result, more firms are working to

create a responsible approach to developing long-term relationships with customers and society.

​The marketing mix is built around the

customer.

Dunkin' is introducing some of its products into supermarkets, vending machines, college campuses, and other locations to increase its product availability and convenience. One reason Dunkin' is doing so is to

increase customer value

Sara Lee introduced a new bread made with light whole wheat and packaged in smaller loaves as a response to the number of health-conscious customers who live alone. In this case, Sara Lee was most likely following the ________.

marketing concept

To build long-term customer relationships, marketers are turning to

marketing research and data analytics.

The element of the marketing mix used to increase awareness of a product or company is

promotion.

Coca-Cola has in recent years developed or acquired new non-cola products to appeal to changing consumer preferences for less sugar in their products. The most likely factor in this change is changes in

the sociocultural forces of the marketing environment.