43) The marketing concept was first articulated in the Annual Report of ________.
A) Ford Motor Company
B) AT&T
C) RCA
D) General Motors
E) General Electric
44) Making a change in any one of the marketing mix elements will ________.
A) leave the other elements unchanged
B) have a negative effect on a similar element
C) have a domino effect on the other elements
D) require the firm to introduce new products
E) require an increase in promotion
45) After World War II, business began to change in many long-lasting ways. Which of the
following is least likely to have caused this shift?
A) Advent of readily available mainframe computing capability
B) Opening up of production capacity dominated for years by war production
C) Pent-up demand for consumer goods and services after the war
D) Desperate need to regain a normalcy of day-to-day life after years of war
E) Focus on sales orientation with the objective of achieving short-term profits
46) The Clean-O company makes a cleanser for the hospital and nursing home market that is
guaranteed to kill 99 percent of Staphylococcus germs, a major concern for medical facilities.
Unlike other companies, Clean-O is not interested in pursuing the consumer market. In this case,
Clean-O has adopted a ________ orientation.
A) market
B) mass customization
C) differentiation
D) relationship
E) product
47) Satern Brothers provides accounting services to small businesses. Before and after tax
season, the partners meet with each client company. They send a monthly newsletter to update
clients with tax changes. The firm’s business practices mainly focus on keeping profitable current
customers rather than gaining new customers. Satern Brothers has adopted a ________
orientation approach.
A) market
B) mass customization
C) differentiation
D) relationship
E) product
48) To significantly enhance customer choices, Levi combines flexible manufacturing with
flexible marketing. Customers may visit the Levi’s clothing website or some company-owned
stores and order a pair of jeans that will be made especially for them. Levi’s has adopted a
________ orientation approach.
A) market
B) mass customization
C) differentiation
D) product
E) relationship
49) The concept of engaging in a learning relationship with customers and directing the firm’s
resources to making each product or service as customized as possible is known as ________.
A) market orientation
B) pro-social marketing
C) differentiation orientation
D) one-to-one marketing
E) relationship orientation
50) Which of the following is NOT part of the marketing mix?
A) product
B) place
C) promotion
D) price
E) policy
51) In the context of the 4Ps of the marketing mix, high-tech media options like cell phones and
the Internet have had a huge impact on ________.
A) product
B) promotion
C) people
D) position
E) policy
52) A local landscaping company works hard to keep and cultivate profitable current customers
instead of constantly investing in gaining new customers that come with unknown return on
investment. This company has a ________ orientation.
A) sales
B) differentiation
C) market
D) production
E) relationship
53) Relationship-oriented firms tend to ________.
A) be driven by meeting a quarter’s financial projections
B) keep and cultivate their profitable current customers who are highly satisfied with the firm’s
offering
C) constantly invest in new customers that come with unknown return on investment
D) often lose great customers and scramble to replace the associated lost revenue
E) focus primarily on increasing sales through catchy and entertaining advertisements
54) Customer relationship management (CRM) is designed primarily to ________.
A) assess the personality characteristics of target customers
B) identify profitable customers in new markets
C) position products to serve very specific customer groups
D) clearly distinguish a firm’s products from those of competitors in the minds of customers
E) facilitate higher levels of customer satisfaction
55) Today customers have limitless access to facts about companies, products, competitors, other
customers, and even detailed elements of marketing plans and strategies. In the context of change
drivers impacting the future of marketing, this reflects the ________.
A) shift in information power from marketer to customer
B) shift to demanding return on marketing investment
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to product glut and customer shortage
56) The Girl Scouts introduced a cookie finder app in 2013. In the context of change drivers
impacting the future of marketing, this reflects the ________.
A) shift to product glut and customer shortage
B) shift in power from marketer to customer
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to justifying the relevance and payback of the marketing investment
57) The Bazooka brand of candy revamped its package inserts by changing from comic strips to
quizzes and brainteasers that direct kids to digital content. In the context of change drivers
impacting the future of marketing, this reflects the ________.
A) shift to product glut and customer shortage
B) shift in information power from marketer to customer
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to justifying the relevance and payback of the marketing investment
58) In the context of change drivers impacting the future of marketing, the way a firm looks at
strategy and tactics is reflected in the ________.
A) shift to product glut and customer shortage
B) shift in power from marketer to customer
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to justifying the relevance and payback of the marketing investment
59) In the context of change drivers impacting the future of marketing, marketing tactics such as
designing the elements of the marketing mix are reflected in the ________.
A) shift to product glut and customer shortage
B) shift in power from marketer to customer
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to justifying the relevance and payback of the marketing investment
60) The 4Ps of marketing refer to ________.
A) product, price, place, and promotion
B) policy, production, plan, and preference
C) promotion, plan, place, and procedure
D) price, policy, program, and position
E) place, production, provision, and plan
61) An offering today is considered to be the ________ in the marketing mix.
A) product
B) price
C) promotion
D) place
E) policy
62) The concept of supply chain management is considered to be part of the ________ of the
marketing mix.
A) product
B) price
C) promotion
D) place
E) plan
63) In the context of the marketing mix, ________ today is largely regarded in relationship to the
concept of value.
A) product
B) price
C) promotion
D) place
E) policy
64) Hannah’s alterations business works around the needs of the customer by providing hours of
operation that vary throughout the week, including some evening and weekend hours. It could be
said that Hannah’s business is ________.
A) differentiated
B) customer-centric
C) market oriented
D) product oriented
E) socially responsible
65) What clearly distinguishes your product from those of the competition is ________.
A) orientation
B) differentiation
C) organization
D) relationships
E) development
66) In Wiersema’s book, The New Market Leaders, he identifies six new market realities. Which
of the following is included in the list?
A) competitors fade away
B) few secrets are open secrets
C) innovation is universal
D) information appreciates
E) hard times make easy growth
67) Which of these characteristics about millennials is NOT true?
A) They favor content over authenticity.
B) They are brand loyal.
C) They are highly connected through technology.
D) They wish to be part of a company’s development process.
E) They seek ethical companies to work for.
68) Millennials represent roughly ________ of the population, and ________ in annual buying
power.
A) 10 percent; $100 billion
B) 25 percent; $200 billion
C) 35 percent; $1 trillion
D) 60 percent; $1 trillion
E) 75 percent; $1 trillion