MKTG 330 - CH 1-2 - QUIZZES

C.J. Foods, a pet food maker, purchased Lortscher Animal Nutrition, Inc. (LANI), a miller and ingredient supplier, and now operates this division as a separate profit center within the firm. In this example, LANI is a(n) ____ unit of C.J. Foods. A) strategic business B) marketing C) dependent D) independent E) corporate

A) strategic business

In a period of economic recovery, the best marketing strategy for UPS would be characterized by which of the following features? A. Flexibility B. Aggressiveness C. Austerity D. Retrenchment E. Sustainability

A. Flexibility

Home Depot recently issued a product recall for its Seasons ceiling fans, which are sold in the lighting and ceiling fan section of the store. Evidently, the blades can detach from the unit, causing them to fall, which presents an impact hazard. Through its recall efforts, Home Depot is taking proactive steps to remove the ceiling fans from its stores as well as to assist customers who purchased the product in obtaining a repair kit. Where possible, Home Depot is contacting known purchasers of the ceiling fans directly. This is an example of a(n) ____________-related ethical issue. A. product B. price C. promotion D. distribution E. environment

A. product

Which of the following states what is to be accomplished through marketing strategies? A) Business-unit objectives B) Marketing objectives C) Corporate objectives D) Financial objectives E) Operational objectives

B) Marketing objectives

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as... A) marketing synthesis. B) relationship marketing. C) a marketing orientation. D) the marketing concept. E) strategic marketing.

B) relationship marketing.

The marketing concept... A) is a definition of marketing to attract customers. B) is a strategy for achieving organizational goals by following management intuition. C) is a management philosophy that affects all organizational activities. D) focuses on selling and advertising to achieve organizational goals.

C) is a management philosophy that affects all organizational activities.

In a meeting with key personnel, Intel's president speaks to the firm's managers about social responsibility in business today. He suggests that the key to being socially responsible is to A. watch profit impacts very carefully. B. maintain an updated code of ethics. C. monitor changes and trends in society's values. D. carefully interpret all new legislation. E. stay with present programs over the long run.

C. monitor changes and trends in society's values.

​The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also... ​A. increase market share. B. ​increase sales. C. ​achieve the organization's goals. ​D. produce high-quality products. ​E. coordinate its activities to increase production.

C. ​achieve the organization's goals.

Greenwashing is what type of marketing ethics issue? ​ ​A. Quality-related ​B. Distribution-related C. ​Product-related ​D. Price-related E. Promotion-related

E. Promotion-related

Which of the following statements is false? A. If an ethical or social responsibility issue can withstand open discussion that results in agreement or limited debate, an acceptable solution may exist. B. A company that supports both socially responsible decisions and adheres to a code of conduct is likely to have a positive impact on society. C. If other persons in the organization approve of an activity and it is legal and customary within the industry, chances are that the activity is acceptable from both an ethical and social responsibility perspective. D. Social responsibility and marketing ethics are interrelated. E. Social responsibility and marketing ethics are the same thing and can be used interchangeably.

E. Social responsibility and marketing ethics are the same thing and can be used interchangeably.

T/F: A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products

False

T/F: An individual's after-tax income is called his or her discretionary income, which is used for spending and/or saving.

False

T/F: Credit increases future buying power.

False

T/F: If groundbreaking products and processes can be protected through patents, a company is less likely to market them and make the benefits of its research available to competitors.

False

T/F: A factor that affects willingness to spend is general economic conditions.

True

T/F: Marketing costs consume about one-half of a buyer's dollar.

True

T/F: The marketing concept is a management philosophy, not a second definition of marketing.

True

T/F: ​Marketing planning and implementation are inextricably linked in successful businesses.

True

T/F: ​Stars are profitable products that usually generate more cash than is required to maintain share.

True

​T/F: Basic and extended warranties can reduce risk, a major customer cost.

True

If Hefty Bags expresses concern that its products are having too great an impact on the pollution of ground water under landfills, this concern is directly related to the firm's a) social responsibility b) marketing concept c) profitability d) ethics e) distribution system

a) social responsibility