marketing ch 1,2,3,4

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to A. influence social norms regarding sexuality. B. encourage consumers to participate in product redesign. C. stimulate supply chain management cooperation. D. increase the perceived value of its products. E. demonstrate social responsibility.

D

Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can A. persuade stores to refuse to carry competitors' products. B. use their power within the supply chain to force weaker firms to accept less favorable pricing. C. control prices and lock in margins. D. create a sustainable competitive advantage. E. justify charging higher prices than competitors do.

D

The evolution of marketing progressed along the following continuum: A. sales, marketing, value-based marketing, production. B. marketing, value-based marketing, production, sales. C. value-based marketing, production, sales, marketing. D. production, sales, marketing, value-based marketing. E. sales, value-based marketing, marketing, production.

D

Which element of the marketing mix is most relevant to the activity "capturing value"? A. promotion B. purchasing C. product D. price E. place

D

Henry Ford's statement, "Customers can have any color they want so long as it's black," typified the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

A

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix? A. place B. price C. product D. promotion E. proximity

A

Jami sells construction equipment. Whenever she calls on her building contractor customers, she asks whether they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing? A. Satisfying customer needs and wants B. The exchange function of marketing C. Product, place, promotion, and price decisions D. Decisions about the setting in which marketing takes place E. Creating value

A

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about A. its value. B. the environment. C. the cost to manufacture the product. D. the economic outlook. E. the product's new advertising campaign.

A

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

People who initiate, organize, operate, and assume the risk of a business venture are called A. entrepreneurs. B. leaders. C. managers. D. professionals. E. consultants.

A

The activity, set of institutions, and process for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called A. marketing. B. marketing research. C. market share analysis. D. market segmentation. E. market positioning.

A

The idea that a good product will sell itself is associated with the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

A

The primary purpose of the __________ plan is to specify the marketing activities for a specific time. A. marketing B. business C. strategic D. organizational E. resource

A

The process of value __________, in which customers collaborate in product design, often provides additional value to the firm's customers. A. co-creation B. positioning C. delivery D. chain management E. based marketing

A

Traditionally, marketing activities have been divided into product, price, place, and promotion. Select the term that best describes the four Ps. A. marketing mix B. marketing channel C. marketing plan D. marketing era E. marketing implementation

A

During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers. A. production-oriented B. sales-oriented C. market-oriented D. value-based marketing E. retailing-oriented

B

Franco uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Franco contacts his customers when they are most likely to be in the buying mode. Franco's system is part of A. C2C marketing. B. customer relationship management. C. a transactional marketing orientation. D. supply chain management. E. typical production era marketing practices.

B

Marketing provides the critical function of __________ when companies expand globally. A. managing production efficiency B. understanding customers C. managing personnel D. forecasting economic growth E. evaluating government stability

B

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

Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings. A. information B. benefits C. relationships D. rebates E. merchandise

B

__________ is communication by a marketer that informs, persuades, or reminds potential customers about a product. A. Pricing B. Promotion C. Placement D. A relational orientation E. Value co-creation

B

Firms achieve ___________ through efficient procedures and excellent supply chain management. A. customer excellence B. locational excellence C. customer loyalty D. value-based pricing E. operational excellence

E

Marketing channel management is also known as A. endless chain marketing. B. a transactional orientation. C. wholesaling. D. product design. E. supply chain management.

E

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including A. competition. B. the economy. C. strengths and weaknesses. D. demographics. E. opportunities and threats.

C

Effective marketing doesn't just happen. It is A. promoted through STP analysis. B. possible only for seasoned marketing executives to achieve. C. planned. D. introduced through control phase SBUs. E. the result of competitors' failures.

C

Effective promotion enhances a product or service's A. supply chain management system. B. wholesaling capabilities. C. perceived value. D. design features. E. trialability.

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. choosing an average price that she will charge all her clients. 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 her competitors charge for similar services.

C

Marketing was once an afterthought to A. accounting. B. economics. C. production. D. finance. E. none of these—marketing was never an afterthought

C

Which element of the marketing mix is most relevant to the activity "creating value"? A. promotion B. purchasing C. product D. price E. place

C

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

C

The four Ps make up the marketing mix, which is the __________ set of activities that the firm uses to respond to the wants and needs of its target markets. A. unpredictable B. external C. internal D. controllable E. global

D

The goal of customer relationship management is to A. manage every customer relationship differently. B. manage every customer relationship to maximum short-term profitability. C. eliminate customers who are profitable, but not highly profitable. D. identify and build loyalty among a firm's customers. E. generate relationships with all of a firm's customers.

D

Which of the following is a core aspect of marketing? A. satisfying as many needs as possible B. creating a product that everyone will want to buy C. setting prices lower than all competitors D. making product, place, promotion, and price decisions E. increasing the company's profit

D

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? A. planning B. implementation C. control D. segmentation E. metrics

A

Which marketing activity is most directly served by the promotion element of the marketing mix? A. communicating value B. creating value C. capturing value D. delivering value E. producing value

A

Taking steps to encourage customer loyalty is one way to A. test new products. B. promote efficiency. C. sustain an advantage over competitors. D. develop new pricing strategies. E. improve supply chain effectiveness.

C

Which element of the marketing mix is most relevant to the activity "delivering value"? A. promotion B. purchasing C. product D. price E. place

E

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages? A. locational excellence B. customer excellence C. operational excellence D. product excellence E. planning excellence

E

UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing goals. A. supply chain management B. value communication C. value capture D. retail management E. promotion

A

When a T-shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," its 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. economics-oriented

A

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. providing benefits to customers and keeping costs down. D. the desire to satisfy customers and the need to keep customers from running the company. E. the need for product improvement and the need for advertising.

C

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

Marketers involved in value-oriented marketing are constantly balancing A. promotional effectiveness with ethical advertising standards. B. the problem of price maximization with cost efficiency. C. customer benefits with costs of their offerings. D. the desire to achieve with the need for a stable source of supply. E. the goal of efficiency with the price charged by competitors.

C

Marney bought a dress from a retail store. Which core aspect of marketing was Marney most directly participating in? A. Marketing helps create value. B. Marketing is about satisfying customer wants and needs. C. Marketing involves an exchange. D. Marketing can be performed by both individuals and organizations. E. Marketing occurs in many settings.

C

After hurricanes like Katrina, many small building contractors will flock to the damaged area, charging whatever customers will pay for temporary repairs to roofs and other parts of damaged homes. These contractors are engaged in a(n) __________ marketing orientation. A. transactional B. external C. relational D. internal E. value driven

A

A relational orientation is based on the philosophy that buyers and sellers develop A. a complete understanding of each other's needs. B. a long-term relationship. C. a price-value comparison matrix. D. supply chain synergy. E. a marketing value transaction focus.

B

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of A. C2C marketing. B. customer relationship management. C. a transactional marketing orientation. D. supply chain management. E. typical production-oriented era marketing practices.

B

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, 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

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. the time the product was full price and didn't sell.

B

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's A. strengths and weaknesses. B. sales history. C. pension plan. D. product specifications. E. opportunities and threats.

E

The fundamental goal of marketers when creating goods, services, or combinations of both, is to A. defeat the competition. B. serve all consumers. C. operate according to government regulations. D. stimulate short-term sales. E. create value

E

Value is A. the lowest cost option. B. represented by brand names. C. the highest priced alternative. D. everyday low prices. E. what you get for what you give

E

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