Practice Quiz Questions 8/24

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

Satisfaction for both the buyer and seller

Which of the following statements about social responsibility is correct?

Social Responsibility refers to a company's obligation to maximize its positive impact and minimize its negative impact of society.

Instead of addressing the question_______, many environmentalists and marketers believe the question should be ______. a) "How can we reduce costs?"; "How can we keep prices low?" b) "Where should we dispose of waste?"; "How can we protect society?" c) "How can we make products better?"; "How can we reduce waste?" d) "How can environmentalism be profitable?"; "Where is the benefit of environmental efforts?" e) "What should we do with our waste?"; "How can we produce products without waste?"

e

A strong code of conduct that is carefully thought out and detailed will not require many revisions in the history of the firm. T/F

false

A market orientation is an organization-wide effort that includes all of the following activities except:

focusing just on the marketing department

Organization should define themselves not according to the products they produce but according to

how they satisfy customers.

McDonald's supports and funds Ronald McDonald Houses for families of terminally-ill children to stay in to be near to their loved ones. McDonald's action demonstrates the fulfillment of ___ responsibility

philanthropic

socially responsible business practices have provided all of the following benefits except

reducing marketing costs

Socially responsible business practices have provided all of the following benefits except:

reducing marketing costs.

The most basic principles of marketing ethics are ___ to encourage marketers to conform to society's expectations for conduct

written laws and regulations

The forces of the marketing environment include

​political, legal and regulatory, sociocultural, technological, economic, and competitive.

​Marketing activities are

​used by all sizes of organizations including for-profit, nonprofit, and government agencies.

Organizations should define themselves not according to the products they produce but according to

How they satisfy customers.

Who drafted the Consumer Bill of Rights?

John F. Kennedy

Which of the following is NOT an example of the implementation of the marketing concept?

McDonald's reduces the labor costs to produce its sausage-egg biscuits.

The following IS an example of the implementation of the marketing concept?

- Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork. -Ford asks customers to vote online for a new color for next year's Ford Focus. - Linx offers rewards for users who can find flaws in its new software. - Volkswagon introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision.

A market orientation is an organization-wide effort that includes all of the following activities:

- researching customer's needs. - generating marketing intelligence for use in the organization - being responsive to customers' ever-changing wants and needs. -disseminating market intelligence across departments within the organization.

Eva organized a boycott of a local restaurant because of the owner's obvios prejudicial treatment of Latinos. Evas action would most likely be called

Consumerism

Changing the hours of operation for a service business involves the ____ component of the marketing mix. ​product

Distribution

Customer benefits include time and effort.

False

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

False

Marketing efforts do not involve the design and development o products.

False

The right to be informed means that consumers should be treated fairly when they complain to marketers about their products. T/F

False

Customers are the focal point of all marketing activities.

True

Four dimensions of sicial responsibility are economic, legal, ethical and philanthropic.

True

Marketing costs consume about one-half of a buyer's dollar.

True

The marketing mix is built around the

customer

The focal point of all marketing activities are...

customers.

​Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.

distribution

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

relationship marketing

Ford Motor has frequently extolled its efforts to reduce greenhouse gas emissions from its manufacturing and its products as well as the increased fuel efficiency of its vehicles. This is an example of-

sustainability marketing

the primary value that a marketer expects to receive form a customer in an exchange relationship is

the price charged for the product..