mkt exam

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e- mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering A. information. B. promotional capital. C. pricing data. D. value cocreation. E. feedback.

A. information

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. marketing

101. 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 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

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. production-oriented

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. production-oriented

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.

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. transactional

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. customer relationship management

47. 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. customer benefits with costs of their offerings

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

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

C. place

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. product

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

C. production

Many firms with complex products have missionary salespeople who assist customers with problems and implementation programs. These salespeople rarely sell products but often become involved in and knowledgeable about specific customers' needs and wants. These salespeople focus on a(n) __________ orientation with their customers. A. transactional B. external C. relational D. internal E. divisional

C. relational

Leah is the marketing manager for an electronics company. While on vacation in Ecuador, she visited electronics stores in the major malls in Quito, the capital city. Most of her company's products were available, except for smart phones. When she returned to work, she mentioned this observation to her international sales manager. Leah was 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. engaging customers, developing long-term relationships. D. identifying opportunities to expand. E. synthesizing and interpreting sales, accounting, and customer-profile data.

D. identifying opportunities to expand

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. price

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. production, sales, marketing, value-based marketing

Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena operates in the __________ era of marketing. A. production-oriented B. sales-oriented C. market-oriented D. value-based E. retailing-oriented

D. value-based

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. 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

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. supply chain management

In the broadest terms, the marketplace refers to A. wholesale and retail environments. B. brick-and- mortar stores and the Internet. C. the four Ps. D. channels that are accessible to a given customer. E. the world of trade.

E. the world of trade

75. Christie has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned, because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on A. transaction-oriented marketing. B. premium pricing. C. his seniority at the firm. D. special incentives from tour operators. E. value co-creation.

E. value co-creation

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. sponsoring charitable events

During the market-oriented era, A. a good product would sell itself. B. the customer was king. C. marketing was more important than production. D. advertising and personal selling were emphasized to make the sale. E. firms focused on value.

B. the customer was king

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. understanding customers