Marketing-Test 1

Julia is considering a career in marketing. She is concerned about the image of marketers as fasttalking, high pressure people. When reading about the core aspects of marketing, Julia is relieved to see that in marketing: Julia is considering a career in marketing. She is concerned about the image of: A. all parties to an exchange should be satisfied. B. promotion is the most important consideration, followed by pricing decisions. C. decisions are made regarding how a product is designed. D. customers are not considered until the product is ready for sale. E. distribution is controlled by customers.

A

When a tee shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," their statement reflects the views that were popular in which era of the evolution of marketing? A. Production-oriented B. Sales-oriented C. Market-oriented D. Value-based marketing E. Economic-oriented

A

Brian is struggling with the choice of publishing his new book, "How to cook Polish Barbeque" as an ebook or a paperback. Brian is addressing which core marketing aspect? A. Developing a promotional plan. B. Managing the Exchange function of marketing. C. Making product decisions. D. Deciding where and how to sell the product. E. Pricing the product.

C

Henriette offers financial counseling and management 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. regulations determining the maximum fees financial advisors can charge. B. changes in technology allowing consumers to manage their own affairs. C. how different customers perceive the value of her services. D. changes in the economy. E. how much effort it takes to serve different types of clients.

C

Marketers involved in supply chain management are constantly balancing the: A. goal of promotional effectiveness against ethical advertising standards. B. problem of price maximization against cost efficiency. C. goal of minimizing costs against satisfying the service levels customers expect. D. desire to achieve against the need for a stable source of supply. E. goal of efficiency against the price charged by competitors.

C

Of primary interest to marketers are ___________________ buyers. A. centrally controlled B. unqualified and underserved C. qualified potential D. first time E. C2C

C

The owner of The Pipe Doctor, a plumbing service, often orders the sinks, faucets, and toilets he installs for his customers. Since he is paid for these items and also for the labor to install them, the Pipe Doctor: A. is a provider of goods. B. is a service provider. C. provides both goods and services. D. is primarily a marketer of ideas. E. offers neither goods nor services.

C

UPS washes its trucks nightly so they are always clean, and requires its delivery people to wear clean, unwrinkled uniforms. UPS probably established these rules because they know that: A. consumers want friendly delivery people. B. most delivery services do not require uniforms. C. consumers' judgment of the benefits they receive from services are tied to the image of the producer. D. the goods UPS sells are easily replicated. E. all of these

C

When referring to "exchange," marketers are focusing on: A. the location where products and services are traded. B. the price charged, adjusted for currency exchange rates. C. location based tactics for creating value. D. promotional offers designed to stimulate barter. E. the trading of things of value.

E

T/F: Because thoughts, opinions, and philosophies are neither goods nor services, they cannot really be marketed.

False

T/F: By publishing a Code of Ethics, a firm ensures that all employees will behave ethically.

False

T/F: Marketing is an activity that only large firms with specialized departments can execute.

False

T/F: Over the past decade or so, marketers have begun to realize that it is best to structure a firm's customer orientation in terms of transactions rather than relationships.

False

T/F: The four Ps include product, promotion, planning, and place.

False

T/F: When a car manufacturer sells trucks, cars, and car parts to the government or military, this is an example of B2C marketing.

False

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes: A. only the actual price they pay at the register. B. the value of their time and energy. C. the excitement they experience in finding an item they desire. D. the savings to the store of not having to display the products neatly on shelves. E. all of these

B

Xavier is analyzing potential market segments. He should carefully seek potential customers who have both an interest in his products and: A. a thorough knowledge of his brand messages. B. the ability to buy them. C. knowledge of competing products. D. the ability to negotiate discounts. E. are removed from traditional marketing alternatives.

B

Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall schedule. She is trying to determine how to offer the classes students need at the times when students need them. Yesenia is struggling with the marketing function of: A. communicating the value proposition. B. supply chain management. C. creating value. D. capturing value. E. value co-creation.

B

Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is: A. expanding from offering just services to also offering goods. B. implementing a market segmentation strategy. C. capturing value through multiple pricing strategies. D. expanding from offering just goods to also offering services. E. increasing customer value through inflated appraisal evaluations.

D

Marketing includes offering: A. goods. B. services. C. ideas. D. goods, services, and ideas. E. goods and services only.

D

T/F: Good marketing is not a random activity.

True

T/F: In value cocreation, the customer is involved as a collaborator in the creation of a product or service, which provides additional value to the customer.

True

T/F: The group of firms that makes and delivers a given set of goods and services is known as a supply chain.

True

T/F: Understanding a customer's needs and wants is fundamental to marketing success.

True

T/F: Value based marketing helps to build longterm customer loyalty.

True

T/F: Value is what you get for what you give.

True

T/F: When a value proposition is advertised, its purpose is to inform, persuade or remind customers about the product or service.

True