Chapter 1 Marketing Questions

In marketing terms, the trade of things of value between the buyer and the seller so that each is better off as a result is referred to as A. a marketing exchange. B. value cocreation C. the marketing mix. D. a value transaction. E. relational marketing.

A. a marketing exchange

Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in A. a traditional transactional orientation. B. C2C value-driven marketing. C. effective supply chain management. D. value cocreation. E. a virtual monopoly.

C. effective supply chain management

Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e-book 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. making product decisions

Many U.S. companies first discovered marketing during the __________ era. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

C. market-oriented

Marketing channel management is related to which of the four Ps? A. product B. price C. place D. promotion E. production

C. place

If a firm adopts a CRM business philosophy, it most likely has a(n) _______ orientation with its customers. A. transactional B. external C. relational D. internal E. divisional

C. relational

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and email in order to participate, the radio station is A. offering an exchange. B. behaving unethically. C. hoping to receive feedback. D. implementing a CRM program. E. overstepping its role.

A. offering an exchange

Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called A. supply chain management. B. a transactional orientation. C. wholesaling. D. value cocreation. E. endless chain marketing.

A. supply chain management

During the __________ era, manufacturers and retailers began to focus on what consumers wanted and needed before they designed, made, or attempted to sell their products. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

C. market-oriented

In delivering value, marketing firms attempt to find the most desirable balance between A. the need for value and the perception of value. B. explicit versus implicit value. C. the need to provide benefits to customers and keep down costs. D. the desire to satisfy customers and the desire to satisfy employees. E. the need for product improvement and the need for advertising.

C. the need to provide benefits to customers and keep down costs

Jenny, the delivery and sales representative for a beer distributor, is calling on a retailer and sees the shelves are almost empty. An unexpected sporting event held nearby resulted in a huge increase in sales. She calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of A. advising production on how much product to make. B. alerting the logistics department when to ship products. C. advising the customer about new products and markets. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

B. alerting the logistics department when to ship products

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to A. communicating the value proposition. B. managing the supply chain. C. performing service marketing. D. capturing value. E. managing price and performance.

B. managing the supply chain

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. managing the supply chain. C. creating value. D. capturing value. E. cocreating value.

B. managing the supply chain

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

B. sales-oriented

Marketing enriches society by A. focusing solely on maximizing profits. B. sponsoring charitable events. C. recognizing that the firm can do very little by itself, and so it should stay focused on its own core competencies. D. facilitating the smooth flow of goods through the supply chain. E. coordinating marketing functions with other functional areas in the company.

B. sponsoring charitable events

A friend of yours comments, "I'm starting my own business. I have a perfect product that no one else can touch, but I have no use for marketing. That's just for the mega-corporations." Which of the following arguments would you not use in talking about marketing? A. Marketing helps new ventures organize, operate, and assess risk. B. Marketers help address unmet customer needs, regardless of the size of the firm. C. Marketing focuses on the product, but only as one element. Three other areas are promotion, price, and place. D. Marketers are skilled at communicating the value of the product to potential customers. E. Marketing isn't essential now, but it will be in a year or two when the product takes off.

E. Marketing isn't essential now, but it will be in a year or two when the product takes off

Which element of the marketing mix deals with supply chain management? A. product B. price C. promotion D. production E. place

E. place

Marketing involves all of the following except A. conducting exchanges. B. satisfying customer needs and wants. C. creating value. D. efforts by individuals and organizations. E. production scheduling.

E. production scheduling