Ch 1

which of the following is not a role that the government performs in a market-directed economy?

setting output levels for producers

a craftsman who makes pottery for his family brings extra pieces that he has made to his general store for sale. this craftsman operates in the ____ era

simple trade

in the _____ era, any extra food or other goods that families produced was traded to local distributors

simple trade

The ______ function of marketing refers to taking goods from one location to another

transporting

which of the following are true about competition and customer value?

- a firm that creates customer value that is superior to its competition is likely to retain customers - a firm offering better values than its competition is likely to acquire heed customers

which of the following are examples of an intermediary that facilitates exchange?

- a grocery store providing many different foods in one place - a retail electronics store with knowledgeable staff - an online camping store that provides customer reviews of backpacks

which of the following are examples of social responsibility issues that a marketing manager might face?

- a motorcycle manufacturer can make a safer bike, but it will double the price - a mortgage firm lobbies to have less regulation of its industry - a doctor's office offers unnecessary medical tests - a magazine prints on recycled paper that raises printing costs

which of the following are examples of e-commerce?

- a new father fills out a form to create his last will and testament at an online site - a mother locates and buys a hard to find child's toy on an online auction website - a search engine helps a customer find information about a hitachi brand high def TV

which of the following statements are true with respect to marketing ethics?

- a person's ethics emerge from that person's own values - marketing ethics guide marketing decisions - ethics can vary from one society to another

which of the following will help firms build relationships with customer value?

- attracting new customers and satisfying them - having all relevant parts of a firm working together to solve customers' problems

which of the following are reasons for studying marketing?

- 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 are examples of how a firm can build relationships with customer value?

- changing a production procedure to reduce the number of defective parts - efforts by delivery personnel to increase customer satisfaction

carry-all is a company that makes backpacks for students to use for carrying books. which of the following activities would be part of the marketing for carry-all?

- choosing retailers that will sell the backpacks - determining the prices and styles of backpacks sold by competing firms - deciding on a promotion to inform potential customers about carry-all backpacks - analyzing student preferences for colors and styles

in which of the following industries would you be less likely to see films utilizing the marketing concept because they do not have much competition?

- coal producers - electric utilities

which of the following are basic ideas central to the marketing concept?

- customer satisfaction - profit (or another measure or long-term success) - total company effort

which of the following reflect how a company adopting a production orientation would operate?

- customer service is required to handle and reduce customer complaints - the company sells whatever product offering it is able to produce - advertising emphasizes product features

which of the following are measures when considering a company's triple bottom line?

- economic, social, and environmental outcomes

in some countries, government officials figure out hw much corn and wheat to grow, how much bread to bake, and how much chicken and beef to make available int he market. This description fits a

command economy

standardizing and ____, which involves separating goods according to their size and quality, streamlines the selling and buying process

grading

which of the following is not true with respect to the role of marketing in different economic systems?

in a command economy, price sets a measure of value

which of the following in not true about marketing?

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

the _______ is based on the idea that everything a company does should be based on satisfying the company's customers while still making a profit

marketing concept

which of the following statements about the marketing functions from a micro viewpoint is true?

marketing functions can be shared among firms in various ways

how should marketing and production work together?

marketing helps production by determining which goods or services should be produced

which of the following statements describing marketing is correct?

marketing involves more than just selling or advertising

the _____-_____ dilemma refers to the fact that what benefits specific companies and their customers may be benefit all of society

micro-macro

the separation that occurs when producers possess products they do not want to consumer and consumers want products they do not own is separation of

ownership

which of the following are reasons why marketing is important to economic growth and development?

- firms that make products customers want will hire people and pay them well - marketing fosters innovation - competition forces firms to offer lower prices

which of the following would likely be considered costs, as opposed to benefits, to a person purchasing a new car?

- interest charges to finance the car - waiting three weeks for delivery - the price they pay

in what type of economy do consumers and producers have the most freedom of choice?

market-directed economy

The _____ function concerns locating a product and judging its sustainability

buying

marketing will be most successful if it

coordinates with production, accounting, and financial activities

________ means actually making goods or performing services

production

which of the following statements are true about a market-directed macro-marketing system?

- it efficiently and effectively connects heterogeneous supply with heterogeneous demand - the universal functions of marketing enhances its effectiveness - it overcomes discrepancies and separation between producers and consumers

which of the following statements are true about the usefulness of studying marketing?

- marketing offers many interesting jobs - marketing concepts will help you learn to "sell" your ideas - marketing concepts can 'sell' yourself to a potential employer

which of the following would represent ways to increase value for taco bell customers?

- offering better tasting meals - lowering prices - delivering orders faster

marketing (check all that apply)

- offers many career opportunities - influences economic growth and development - affects almost every aspect of daily life - affects the development and spread of new ideas

a market-directed macro-marketing system (check all that apply)

- overcomes discrepancies or assortment and quality - relies on the universal marketing functions

which of the following are part of marketing?

- predicting the styles that will appeal to customers - determining what the competition charges for similar products - analyzing customer needs - forecasting future sales

marketing exchange should

- satisfy needs so future sales follow - attempt to build relationships

which of the following are questions raised by the issue of social responsibility?

- should the consumer product safety commission recommend banning skiing and snowboarding because about 40 people are killed each year while doing it? - should a power company increase its use of wind power- which might cut its profits? - should ford motor company produce safer but more expensive cars? - should frito lay produce snacks that are healthier but less tasty?

which of the following reflect how a restaurant adopting a marketing orientation would operate?

- the company makes what it knows customers are interested in buying - customer needs determine how the company operates - marketing research tries to identify unmet customer needs

which of the following statements about marketing functions are true

- 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

which of the following are reasons why government regulations may be put into place to reduce air pollution?

- to give all firms in an industry face the same costs or benefits from the regulation - the benefits from less air pollution are valued by society - to make sure that there is no advantage to a firm that does not offer the benefits

Why would a producer or consumer use an intermediary or collaborator?

- to make an exchange less expensive - to make an exchange easier

why would a producer or consumer use an intermediary or collaborator?

- to make an exchange less expensive - to make an exchange easier

in terms of ethics, most businesspeople would agree on which of the following values?

-fairness -honesty

which of the following are specific ethical values from the american marketing association code of ethics?

-honestly - transparency - responsibility - fairness - citizenship - respect

which of the following reflect ethical norms outlines in the American Marketing Association's statement of ethics

-marketers must help built trust in the marketing system - marketers must fully support ethical values - marketers must do no harm

Starting with "offer superior customer value" at the top, place the components of the model that leads to building superior customer relationships in the order which they are performed, from top to bottom

1. offer superior customer value 2. attract customers 3. satisfy customers 4. retain customers 5. increase sales to customers 6. build profitable relationships with customers

in general, a(n) _____ orientation is focused on offering customers what they need rather than getting customers to buy what is available for sale

marketing

through a variety of activities, ____ plays a key role in providing customer with goods and services that create customer satisfaction

marketing

which of the following refers to the idea that a company should focus entirely on satisfying customers and do so profitably?

marketing concept

the ______ era describes a stage when a single department in a firm takes over the firm's marketing activities in an effort to improve marketing activities

marketing department

which of the following is not a criticism of marketing?

marketing reduces discrepancies of assortment

through a variety of activities, ______ plays a key role in providing customer with goods and services that create customer satisfaction

MARKETING!!!!!!

In advanced economies, challenges to producer-consumer exchange include which of the following?

Separation of ownership Separation in time

which of the following is the best reason why a firm would move into the marketing department era?

a need to tie together efforts of various internal activities, including production, purchasing, shipping, and sales

discrepancies or ________ occurs because producers want to focus on making a narrow range of goods and services, whereas consumers prefer more variety

assortment

when henry ford offered cars in any color, as long as it is black, he was operating his company in the _____ era

production

in nonprofit organization, the marketing concept

can be a challenge because support may not come directly from satisfied "customers"

which of the following is not central to the marketing concept?

production efficiency

A(n) _____ is a marketing specialist who assists with certain marketing functions, such as advertising, transportation, or warehousing

collaborator

when a company practices the marketing concept, a focus on ______ should guide the company's employees

customer satisfaction

which of the following are not examples of collaborators

customers

_____ refers to exchanges between individuals or organizations- and activities that facilitate these exchanges- based on applications or information technology

e-commerce

Which of the following refers to the ability of a company to reduce the per unit cost of a product by producing greater quantities of the product?

economies of scale

when using a triple bottom line, firms demonstrating _____ responsibility seek t at least not harm the natural ecosystem

environmental

marketing _____ are the moral standards for making marketing decisions and actions

ethics

which of the following organizations would not benefit from practicing the marketing concept?

every one of these would benefit

which of the following statements reflects the behavior of a firm practicing the marketing concept

everyone in the organization thinks about how to satisfy customers

according to the ____ of management, a company needs to focus on making the products it can readily make, not on trying to serve its customers first

production orientation

The purpose of the ____ function is to supply the cash and credit a company needs for producing, transporting, storing, and selling products

financing

The universal functions of marketing include which of the following?

market information storing selling

in a command economy, the production and distribution of goods and services is planned and set by

government officials

the _____ function concerns facing the possible, negative outcomes of the marketing process

risk taking

separation ____ refers to producers focusing on costs and competitive prices and consumers thinking about getting what they want at a price they can afford

in values

in the ____ era, companies focus on selling their products in the fave of growing competition

sales

which of the following is a market specialist whose role in the exchange process is to focus on trade?

intermediary

in a(n) _____-directed economy, the macro economy is the result of the multitude of individual decisions made by consumers and producers

market

The ________ function involves the gathering and evaluating of data for marketing activities

market information

an electric utility produces low-cost electricity but produces a great deal of air pollution in the process. This is an example of

micro-macro dilemma

which of the following is a reason for firms to move from the production era into the sales era

more production results in more competition

which of the following is not in the circular model that leads to building superior customer relationships?

only the marketing department should satisfy customers

effective marketing should start with

potential customer needs

which of the following statements about a command economy is true?

prices are set by government planners

match the type of manager orientation (on the left) with a statement (on the right) that is characteristic of the orientation

product orientation - "customers are there to buy our products" marketing orientation - "customers are there for us to discover and meet their needs"

a company that strives to have an overall positive effect on society is a company that practices social ____

responsibility

The _____ function involves promoting the product

selling

when consumers do not want to buy goods and services that producers prefer to make, the problem of ___ arises

separation in time

Which of the following is not a type of separation that marketing can help overcome?

separation of innovation

______ occurs because producers prefer to locate where it is necessary to produce, and consumers would rather buy where it is convenient and in many different ways

spatial separation

The sofa that kathy bought was shipped from the furniture store's warehouse. Which marketing function did the warehouse fulfill?

storing

a command economy can work pretty well when

the economy has a relatively limited number of goods and services

which of the following statements is true about the fairness and effectiveness of a macro-marketing system?

the system should be evaluated against a society's objectives

in a market-directed economy, which of the following is the role of the price of goods and services?

to act as a rough measure of value

which of the following is a basic function or an economic system?

to produce goods and services from the limited resources available to a society

Match the marketing function (on the left) with its description (on the right)

transporting - taking goods from 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

True or false: the universal functions of marketing help overcome separations and discrepancies between the production and consumption sectors

true

customer ____ concerns the relative benefit that a customer believes he or she gets from a product or service compared to the cost of obtaining it

value