Chapter 1 Quiz

Question 1

A mission statement that reflects a production orientation is based on the premise that success is due to great products and that simply creating supply will lead to demand.

Answer 1

True

Question 2

_____ refers to a philosophy that focuses on competing through product innovation. Selling orientation Product differentiation Product development Market orientation

Answer 2

Product orientation

Question 3

Personnel in _____ are responsible for studying markets and customers in order to understand what strategies or tactics might work best for firms. direct marketing marketing research advertising sales merchandising

Answer 3

marketing research

Question 4

Telemarketers call consumers at their homes to sell their products. This is an example of _____. direct marketing advertising non-profit marketing product development event marketing

Answer 4

direct marketing

Question 5

Which activity would be considered part of the communicating component of marketing? A salesperson trying to sell products door-to-door Working with suppliers An online ordering form Providing a warranty Moving the product from the distribution center to a retail location

Answer 5

A salesperson trying to sell products door-to-door

Question 6

Tom goes to the department store and buys some detergent. Which component of marketing does this describe? Delivering Communicating Creating Promoting Exchanging

Answer 6

Exchanging

Question 7

Marketing strategists use the corporate strategy and mission combined with an understanding of the market to develop the company’s _____. marketing plan sustainability value merchandise profit goals

Answer 7

marketing plan

Question 8

In marketing, _____ involves collaboration with suppliers and customers in order to generate offerings of value to customers. exchanging creating delivering communicating promoting

Answer 8

exchanging

Question 9

Marketing careers in product development involve meeting with customers, determining value, proposing offerings, and making sure that the customer is satisfied. True False

Answer 9

False

Question 10

How might a marketer increase a consumer’s personal value equation? Increase the hassle and the price associated with the exchange Decrease the benefits offered and associated with the exchange Increase the price associated with the exchange Decrease the hassle and the benefits offered with the exchange Reduce the hassle and increase the benefits associated with the exchange

Answer 10

Reduce the hassle and increase the benefits associated with the exchange

Question 11

Exchanging involves getting offerings to the consumer in a way that optimizes value. True False

Answer 11

False

Question 12

Marketing has changed from a static set of four Ps to a set of processes that engage marketing professionals as well as many others in the organization. True False

Answer 12

True

Question 13

According to the American Marketing Association, marketing consists of five components. True False

Answer 13

False

Question 14

_____ refers to a belief that the way to compete is a function of product innovation and reducing production costs, as good products appropriately priced sell themselves. Selling orientation Market-oriented Masrketing concept Production oriented Product orientation

Answer 14

Production oriented

Question 15

When non-profit organizations try to convince people that global warming is a real threat, it is an example of _____. production orientation marketing event marketing social marketing logistics marketing value marketing

Answer 15

social marketing

Question 16

Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. True False

Answer 16

True

Question 17

_____ refers to marketing activities conducted to meet the goals of nonprofit organizations.

Answer 17

Social marketing

Question 18

Marketing is the interface between producers and distributors. True False

Answer 18

False

Question 19

Provide examples of how for-profit, nonprofit, and individuals utilize marketing.

Answer 19

For-profit may utilize marketing for showing the customer the value of their offerings. Nonprofit may utilize marketing by distributing pamphlets to organization to help society at large. Individuals may utilize marketing in their resume by selling themselves to a potential employer.

Question 20

Which marketing career involves meeting with customers, determining value, proposing offerings, and making sure that the customer is satisfied? Sales Marketing research Advertising Merchandising Direct marketing

Answer 20

Sales