ch 4

Companies in __________________________ find the marketing concept to be of most value. A. monopolistic competition B. pure competition C. a monopoly D. an oligopoly

A

Consumers with different needs require A. specialized products and services B. more advertising C. price incentives D. fewer product choices

A

If a company understands the marketing concept, its first step will be to A. identify potential customers and their needs B. develop a product C. develop a marketing mix D. distribute the product

A

Today's marketers are continuously looking for A. market opportunities. B. ways to harm competitors. C. lower cost production methods. D. chances to increase product prices.

A

A business takes a big risk when it is unwilling to A. cut costs. B. study the needs of its customers. C. increase promotion. D. all of the above.

B

Retailers are responsible for most final _________ decisions. A. product B. pricing C. distribution D. promotion

B

The price of a service is difficult to compare because A. a middleman is usually involved B. different businesses may offer the service in a different way C. the business has little control over the price D. service businesses do not sell a wide variety of products

B

When the same purchase decision is repeated again and again A. each decision is unique B. the decision becomes routine C. consumers will not really recognize the similarity D. consumers still must repeat all of the steps in the decision making process

B

Businesses that have adopted the marketing concept A. reduce the number of marketing activities they complete. B. separate marketing planning from other business plans. C. use a totally new approach to thinking and planning. D. will be successful if they produce a quality product.

C

Probably the most difficult marketing decision to understand and plan is A. product B. distribution C. price D. promotion

C

The typical purchasing process begins when consumers A. determine the satisfaction the decision creates B. identify possible solutions C. recognize a need D. evaluate options

C

Because nonprofit organizations do not have to be concerned about sales and expenses, they do not benefit a great deal from marketing.

D

Businesses that do not believe in the marketing concept believe A. consumers do not know what they want B. they can influence consumer needs with well-designed products C. most consumers are similar in terms of their needs D. all are correct

D

The most important type of research for most businesses is the study of A. competitors' products and prices B. ways to reduce costs C. new products D. potential and current customers

D

The primary focus of the marketing concept is A. increased sales. B. reducing costs. C. responding to competition. D. none of the above are correct.

D

Which of the following is not a part of the product mix element? A. the actual physical product B. services C. product uses D. transportation

D

A business that believes in the marketing concept focuses its business planning on increasing sales.

F

All businesses need to place the same amount of emphasis on each of the four marketing mix elements.

F

Because nonprofit organizations do not have to be concerned about sales and expenses, they do not benefit a great deal from marketing.

F

Because producers and manufacturers do not sell directly to final consumers, they do not need to understand and respond to consumer needs.

F

Companies that use the marketing concept do not focus on specific groups of customers, but rather on all consumers in general.

F

Consumers always spend a great deal of time and want a large amount of information when evaluating alternative choices.

F

Consumers want to choose the alternative that requires the least amount of money.

F

Customers will blame the manufacturer rather than other channel members if a product does not meet their needs.

F

In the past, many businesses reduced marketing efforts when faced with financial problems.

F

Marketing has changed very little from the way it was used by businesses many years ago.

F

Most decisions to purchase are made before the consumer has finished evaluating choices.

F

Most marketing strategies are developed as a result of problems businesses encounter.

F

Most of today's consumers are not well informed

F

A consumer may be aware of products but will not make a purchase until a need exists.

T

A government agency is an example of a nonprofit organization.

T

Businesses that are not prepared for competition have a difficult time staying in the market.

T

Customers using the products and services of a monopoly business often become dissatisfied with their lack of choice.

T

Distribution planning is important to service businesses because the service must be available where and when the customer wants it.

T

Market opportunities include new markets and ways to improve a company's offerings in current markets.

T

Marketing and product planning should occur at the same time

T

Marketing is more effective when it is integrated into other business activities.

T

Most service businesses do not use a channel of distribution.

T

Producers and manufacturers need to be concerned about the needs of other businesses in the channel of distribution.

T

Spending money on marketing reduces a company's profit in the long run.

T

The earliest use of marketing was to move products from the producer to the consumer.

T

The most difficult type of competition businesses face is a market in which businesses compete with others offering very similar products.

T

Various groups of customers may have different needs

T

Without the marketing concept, a business will develop a product or service and then decide how to market the product

T