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Name:
Class:
Date:
chapter 1
Indicate whether the statement is true or false.
1. While many firms claim to have adopted the marketing concept, there is little evidence that a strong market orientation
contributes to market success and overall performance.
a.
True
b.
False
2. Manufacturers engage in risk taking when they create goods and services based on research and their belief that
consumers need them.
a.
True
b.
False
3. It can be said that Glen Inc., a woolen products manufacturing company based in Switzerland, is a firm that uses a
market-driven strategy because it produces goods based on local customers’ experiences, needs, and preferences.
a.
True
b.
False
4. Programs that improve customer service inside a company raise productivity and staff morale, resulting in better
customer relationships outside the firm.
a.
True
b.
False
5. Buzz marketing excludes visual aspects as it does not consist of a tangible expression of an issue or position.
a.
True
b.
False
6. Mobile marketing is a term used to describe marketing messages sent via wireless technology.
a.
True
b.
False
7. The relationship era builds on the marketing era’s customer orientation by only focusing on maintaining relationships
with customers.
a.
True
b.
False
8. Information technologies give organizations fast new ways to interact and develop long-term relationships with their
customers and suppliers.
a.
True
b.
False
9. Buying an iPod generates ownership utility; however, buying a concert ticket does not.
a.
True
b.
False
10. A strategic alliance is defined as a partnership between a for-profit business and a not-for-profit organization.
a.
True
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chapter 1
b.
False
11. The marketing era is the successive historical outcome of the production era.
a.
True
b.
False
12. Within a business environment, the marketing function is responsible for the creation of time, place, and ownership
utility, whereas the production function creates form utility.
a.
True
b.
False
13. Interactive marketing allows marketers and consumers to customize their communication.
a.
True
b.
False
14. The marketing concept focuses on the objective of achieving short-term profits instead of long-run success during
tough economic times.
a.
True
b.
False
15. Product development partnerships and vertical alliances are two examples of strategic alliances.
a.
True
b.
False
16. Electronic commerce and computer technologies have created unprecedented opportunities in business today.
a.
True
b.
False
17. Compared to transaction marketing, relationship marketing relies more heavily on information technologies.
a.
True
b.
False
18. Marketing myopia occurs when management fails to recognize the scope of its business.
a.
True
b.
False
19. In the sales era, firms attempted to match their output to the potential number of customers who would want it.
a.
True
b.
False
20. The financial bottom line refers to the limitations laid on the budgets of a firm.
a.
True
b.
False
21. The establishment of the WTO, the passage of NAFTA, and the creation of the Euro are examples of protectionism on
the part of nations concerned with increased globalization of the marketplace.
Name:
Class:
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chapter 1
a.
True
b.
False
22. Firms that make the most efficient use of buzz marketing claim that it is a “one-way” approach to building customer
relationships.
a.
True
b.
False
23. The advent of a strong buyer’s market created the need for consumer orientation by businesses.
a.
True
b.
False
24. ARC Inc., a waste management company, expands its scope of business to recycle liquids that can be turned into fuel-
grade ethanol, demonstrating the socially responsible approach of the company.
a.
True
b.
False
25. Wesley Pvt. Ltd., can avoid marketing myopia by finding innovative ways to reach new markets with existing goods
and services.
a.
True
b.
False
26. On average, marketing expenses account for half of the costs involved in a product.
a.
True
b.
False
27. An important difference between not-for-profit and for-profit organizations is that, not-for-profit organizations cannot
market tangible goods.
a.
True
b.
False
28. Form utility refers to conversion of raw materials and components into finished goods and services.
a.
True
b.
False
29. In the past, firms have viewed their suppliers as adversaries against whom they must fiercely negotiate prices, playing
one off against the other.
a.
True
b.
False
30. Promotional events designed to attract visitors to a particular area or to improve the image of a city, state, or nation
would be examples of event marketing.
a.
True
b.
False
31. The private sector has an even greater array of not-for-profit organizations than the public sector.
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chapter 1
a.
True
b.
False
32. Branches of the U.S. military sometimes show recruitment advertisements in cinemas featuring movies that are most
likely to attract viewers of military age. This is an example of place marketing.
a.
True
b.
False
33. Relationship marketing tries to rebuild damaged relationships and rejuvenate unprofitable customers.
a.
True
b.
False
34. Information technology has enhanced the effectiveness of relationship marketing by leveraging mass-marketing
campaigns.
a.
True
b.
False
35. According to relationship marketing, the lifetime value of a customer should exceed the investment made by the firm
to attract and keep the customer.
a.
True
b.
False
36. Social responsibility includes marketing philosophies, policies, procedures, and actions whose primary objective is to
enhance society and protect the environment through sustainable products and practices.
a.
True
b.
False
37. Virtually all colleges and universities have alumni associations that publish magazines, hold reunions, and try to raise
funds. These activities constitute organization marketing.
a.
True
b.
False
38. According to relationship marketing, firms must apply higher standards of customer satisfaction to external customer
relationships over intradepartmental relationships.
a.
True
b.
False
39. Marketing is the organizational function that refers to all forms of selling from institutional sales to personal selling.
a.
True
b.
False
40. Not-for-profit organizations are generally less concerned with the bottom line than for-profit organizations.
a.
True
b.
False
41. Product-oriented rather than customer-oriented management endangers the future growth of an organization.
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chapter 1
a.
True
b.
False
42. Not-for-profit organizations have numerous organizational objectives other than profitability due to their diversity.
a.
True
b.
False
43. On account of their unselfish goals of serving society, not-for-profit organizations are not required to have marketing
objectives.
a.
True
b.
False
44. Marketing of a product begins after it hits the shelf.
a.
True
b.
False
45. The main goal of not-for-profit organizations is to generate revenues above and beyond their costs to make money for
all stakeholders involved.
a.
True
b.
False
46. The physical distribution functions of marketing are related to advertising, personal selling, and sales promotion in the
attempt to match products and services to consumer needs.
a.
True
b.
False
47. An exchange process is an activity in which two or more parties give something of value to each other to satisfy
perceived needs.
a.
True
b.
False
48. A theater group promoting a performance to raise funds in the fight against cancer is an example of both cause
marketing and event marketing.
a.
True
b.
False
49. A seller’s market is one in which there are more goods and services than people willing to buy them.
a.
True
b.
False
50. For-profit organizations tend to focus more on their customers than not-for-profits do.
a.
True
b.
False
51. Sustainable products are products that can be produced, used, and disposed of with minimal impact on the
environment.
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a.
True
b.
False
52. Not-for-profit organizations face complex decision-making issues about the correct markets to target as they often
must market to multiple publics.
a.
True
b.
False
53. Intermediaries that operate between producers and resellers are known as wholesalers.
a.
True
b.
False
54. Interactive marketing refers to buyer-seller communication in which the customer controls the amount and type of
information received from a marketer.
a.
True
b.
False
55. The cost of finding new customers is far less than the cost of maintaining existing ones.
a.
True
b.
False
56. Company A provides a component to Company B, which then sells it under its own brand. This is an example of a
vertical alliance.
a.
True
b.
False
57. The marketing era is defined by a shift in focus from products and sales to satisfying a consumer’s needs.
a.
True
b.
False
58. An auto manufacturer creates ownership utility for its consumers by combining metal, rubber, plastic and petroleum
products.
a.
True
b.
False
59. Production and marketing of goods and services are two basic functions that create utility.
a.
True
b.
False
60. Marketing of sporting, cultural, and recreational activities to selected target markets is known as cause marketing.
a.
True
b.
False
61. A service user of a not-for-profit organization has more control over the organization’s destiny than customers of a
profit-seeking firm.
a.
True
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b.
False
62. The traditional view of marketing can be described as transaction-based marketing.
a.
True
b.
False
63. Firms that narrowly define their organizational goals can avoid the problem of marketing myopia.
a.
True
b.
False
64. The limitation of a strategic alliance is that it eliminates competitive advantage.
a.
True
b.
False
65. The most obvious distinction between not-for-profit organizations and for-profit firms is the focus on generating
revenues above and beyond the costs.
a.
True
b.
False
66. A firm with a fully developed marketing concept is one with a company-wide consumer orientation with the objective
of achieving long-term success.
a.
True
b.
False
67. The functions of marketing can be grouped into three major categories: exchange functions, physical distribution
functions, and financing functions.
a.
True
b.
False
68. In relationship marketing, employees serve customers within an organization as well as outside it.
a.
True
b.
False
69. Interactive promotions put customers in control because they can gain immediate access to key product information
when they want it.
a.
True
b.
False
70. Owen buys a car for himself. Owen has created ownership utility.
a.
True
b.
False
71. Relationship building in marketing starts with excellent customer service after purchase.
a.
True
b.
False
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Class:
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chapter 1
72. An organization creates a customer through a three-step approach: identifying needs in the marketplace, finding out
which needs the organization can profitably serve, and developing goods and services to convert potential buyers into
customers.
a.
True
b.
False
73. The emergence of the marketing concept can be linked to the shift from a seller’s market to a buyer’s market.
a.
True
b.
False
74. Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the
quality of products.
a.
True
b.
False
75. Buying, selling, transporting, and storing are known as the facilitating functions of marketing because they represent
the exchange and physical distribution functions.
a.
True
b.
False
76. Relationship marketing moves customers up a loyalty ladder—from new customers to regular purchasers, then to loyal
supporters of the firm and its goods and services, and finally to advocates who not only buy its products but recommend
them to others.
a.
True
b.
False
77. Marketing is the indirect connection between a firm and its customers.
a.
True
b.
False
78. The expanded concept of marketing activities permeates all functions in businesses and not-for-profit organizations.
a.
True
b.
False
79. Celebrities use person marketing as a way to increase their value in the marketplace.
a.
True
b.
False
Indicate the answer choice that best completes the statement or answers the question.
80. Noel Pvt. Ltd. combines metal, rubber, and other components in the production of appliances. In doing so the
company creates _____ utility.
a.
ownership
b.
form
c.
place
d.
time
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81. Relationship marketing relies heavily on:
a.
mass marketing and global promotions.
b.
technology to store customer data and to customize products/services.
c.
strategic alliances and creating competitive advantage.
d.
aligning business goals with a social cause.
82. Your technology company has decided to form a strategic alliance with a major technology company based in South
Korea. Which of the following statements is TRUE about the characteristics, benefits and business aspects of a strategic
alliance?
a.
Each company will give up some of its autonomy while gaining new opportunities from the alliance.
b.
The alliance will require both companies to change their organizational structures.
c.
The alliance will guarantee that each company will expand into new markets.
d.
The alliance may help each company to develop an advantage over its competition.
e.
The alliance will involve your company and the South Korean company pooling resources to form a separate
business entity.
83. You just graduated from college with a degree in business. You are excited about beginning your professional career.
To begin your job search, you are doing some soul searching to decide what type of company you want to work for. You
have come up with the following list of characteristics that your ideal company would have:
1. Your ideal company does not seek to maximize shareholder value.
2. Your ideal company will be a service organization with a public mission.
3. Your ideal company will consider marketing an essential function.
4. Your ideal company will reinvest all its revenues into achieving the organization’s objectives.
Based on these characteristics, you should most appropriately pursue professional opportunities in a _____________
company.
a.
Non-profit
b.
Social services
c.
Profit oriented
d.
Consumer advocacy
e.
Strategic alliance
84. A company with a _____ orientation assumes that customers will resist purchasing nonessential goods and services
and that the task of personal selling and advertising is to persuade them to buy.
a.
production
b.
marketing
c.
sales
d.
relationship
85. Which of the following is a combination of person, cause, and organization marketing?
a.
Tiger Woods’ endorsement of Nike, a sports company and Accenture, a consulting company
b.
The Nobel Peace Prize for Al Gore for his work on global warming
c.
UNICEF’s work to improve the living conditions of children across the world
d.
Angelina Jolie’s role as a UN Goodwill Ambassador for refugees
86. Which of the following is a characteristic which distinguishes profit-oriented firms from non-profit organizations?
a.
Profit-oriented businesses tend to focus their marketing activities on one public - their customers
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b.
Not-for-profit organizations seek to generate revenues above and beyond their costs to make money for all
stakeholders involved
c.
Not-for-profit organizations do not market tangible goods
d.
Profit-oriented businesses often operate as a monopoly in their industry
87. When a company conducts a marketing research project, it is engaging in which one of the Eight Universal Marketing
Functions?
a.
Environmental analysis
b.
Selling
c.
Relationship management
d.
Promotion
e.
Buying
88. Which of the following factors contributed to the transition from the production era to the sales era?
a.
Increased consumer demand
b.
Sophisticated production techniques
c.
Increase in urbanization
d.
The Great Depression
89. Which of the following holds true when not-for-profit organizations are compared with for-profit organizations?
a.
Not-for-profit organizations tend to focus their marketing on just one public—their customers.
b.
Not-for-profit organizations often possess some degree of monopoly power in a given geographical area.
c.
Not-for-profit organizations depend on strategic alliances with for-profits to provide advertising and visibility.
d.
A service user of a not-for-profit organization may have more control over the organization’s destiny than
customers of a profit-seeking firm.
90. Which of the following statements concerning the global marketplace is true?
a.
The global marketplace is diminishing because of Internet technology.
b.
The global marketplace is growing because of trade agreements.
c.
The global marketplace is growing due to the threat of the ability of a single nation to manufacture, supply,
and consume all that it produces.
d.
The global marketplace is growing owing to the talent shortage in the home countries of national companies.
91. After receiving a marketing degree with honors, you surprised your friends by going to work for an animal rescue
organization. They thought the job would be so easy that you wouldn’t be able to put your skills and knowledge to good
use. You decide to set them straight, explaining that the unique challenges of marketing the group are exactly what
attracted you to the field. What do you say?
a.
Marketing a nonprofit has nothing in common with marketing a profit-seeking business.
b.
Marketing a nonprofit is made especially difficult by the fact that these organizations do not have access to
social networking tools.
c.
Nonprofit marketing is complicated by the need to serve multiple publics at once.
d.
Nonprofit marketing is exactly the same as marketing a business – just with fewer, smaller resources.
e.
Nonprofit marketers offer only intangible services, not tangible goods.
92. Which of the following statements regarding the marketing era is true?
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a.
Marketing and selling would no longer be considered synonymous terms.
b.
Marketing was relegated to a supplemental role performed after the production process.
c.
The marketing concept was linked to a shift from a buyer’s market to a seller’s market.
d.
Business success often was defined solely in terms of production successes.
93. Financing is one of the _____ functions of marketing.
a.
exchange
b.
distribution
c.
decisional
d.
facilitating
94. When marketers apply quantity control standards, they are:
a.
engaging in the process of exchange.
b.
reducing the need for purchasers to inspect each item they purchase.
c.
determining the amount an individual will be allowed to buy on credit.
d.
developing channels of distribution for a product.
95. The application of relationship marketing requires attention to levels of customer loyalty. Which of the following is
the highest level as defined by this type of marketing?
a.
Loyal supporter of the company and its goods and services.
b.
Advocate who not only buys the products but recommends them to others.
c.
Regular purchaser of the company's products.
d.
Stockholder who literally buys into the organization and its mission.
96. The utility of a product or service is its:
a.
want-satisfying power.
b.
re-usability.
c.
function as a commodity.
d.
design quality.
97. In the relationship era, firms focus on:
a.
short-term relationships with suppliers.
b.
long-term relationships with customers and suppliers.
c.
short-term relationships with customers and suppliers.
d.
short-term relationships with customers.
98. Some Florida drivers have license plates that say “Save the Manatee.” This is an example of _____ marketing.
a.
organization
b.
cause
c.
place
d.
event
99. Relationship marketing focuses more attention on _____ customers because new customers are _____ to acquire
compared to existing customers.
a.
existing; less expensive
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b.
new; less expensive
c.
existing; more expensive
d.
new; more expensive
100. A market in which there are more buyers for fewer goods and services is known as a:
a.
seller’s market.
b.
monopoly.
c.
buyer’s market.
d.
oligopoly.
101. Companies must broadly define their goals so they focus on fulfilling consumer needs in order to avoid
_____________.
a.
Customer value destruction
b.
Production era thinking
c.
Risk taking
d.
Marketing myopia
e.
Unethical marketing
102. Enterprise Rent-A-Car has invested in new equipment to reduce their carbon footprint and conserve energy. A large
percentage of Enterprise's airport shuttle buses use cleaner fuel such as biodiesel. Focusing on reducing their carbon
footprint is one way that Enterprise is demonstrating __________.
a.
social responsibility
b.
carbon dating
c.
environmental consciousness
d.
strategic conservation
103. A buyer’s market is characterized by:
a.
more goods and services than buyers to buy them.
b.
a small number of firms dominating the production of goods offered.
c.
practically no competition in the marketplace.
d.
a single firm producing a major share of the products or services offered.
104. A university sells customized sweatshirts, pullovers, and jerseys to its students and staff. This is an example of
_____.
a.
cause marketing
b.
organization marketing
c.
person marketing
d.
event marketing
105. The facilitating functions of marketing include:
a.
securing marketing information and financing.
b.
buying and selling.
c.
securing market information and storage.
d.
risk taking and transporting.
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106. Which of the following refers to marketing myopia?
a.
A companywide consumer orientation with the objective of achieving long-run success
b.
A market in which there are more buyers for fewer goods and services
c.
A management’s failure to recognize the scope of its business
d.
A market in which there are more goods and services than people willing to buy them
107. The business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer
needs and then designing a system for satisfying them is known as:
a.
customer persuasion.
b.
consumer orientation.
c.
aggressive marketing.
d.
sales orientation.
108. Mobile marketing refers to:
a.
running promotional campaigns on transport media like trains and airplanes.
b.
marketing messages transmitted via wireless technology.
c.
promoting associated products or services alongside mobile technologies.
d.
the use of online social media as a communications channel for marketing messages.
109. As a consultant, you help firms challenged by marketing myopia. One of your clients is a bakery that specializes in
low fat cakes sweetened with organic fruit juice. To most effectively broaden their perspective, which of the following
business ideas do you advise them to adopt?
a.
We make a healthy lifestyle taste better.
b.
Every ingredient is 100% natural.
c.
We give you the best prices in the industry.
d.
Our cakes are kid-tested.
e.
We deliver 24 hours a day.
110. The primary objective of a firm’s social responsibility actions is to achieve_______________?
a.
A clean environment
b.
Increased shareholder value
c.
Enhancement of society
d.
Satisfied customers
e.
Increased market share
111. Which function of marketing helps marketers determine what consumers want and need and how to offer goods and
services to satisfy them?
a.
Financing
b.
Securing market information
c.
Risk taking
d.
Standardizing and grading
112. Which of the following forms the first half of the exchange process?
a.
Standardizing
b.
Buying
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c.
Selling
d.
Storing
113. Which of the following holds true regarding relationship marketing?
a.
It applies only to individual consumers and employees.
b.
It affects distributors as well as other types of corporate partnerships.
c.
It does not allow marketers and customers to customize their communication.
d.
It is a buyer–seller communication in which the marketer controls the amount and type of information received
from a customer.
114. The term ‘bottom line’ is a reference to:
a.
overall company profitability.
b.
a firm’s social responsibility.
c.
the limits on marketing budgets.
d.
the ethical and social viability of marketing.
115. In not-for-profit organizations, _____ may interfere with the organization’s marketing program.
a.
stockholders
b.
the government
c.
service-users
d.
major contributors
116. By converting indifferent customers into loyal ones through relationship marketing, companies can:
a.
increase the cost of maintaining existing customers.
b.
start a process by which customers become bound contractually to the business.
c.
avoid the necessity of improving customer service in the long run.
d.
generate repeat sales.
117. Which of the following would be visible in relationship marketing?
a.
Focus on producing high quality goods
b.
Sales orientation
c.
Companywide consumer orientation
d.
Strategic alliances
118. Which of the following is a facilitating function of marketing?
a.
Buying
b.
Selling
c.
Standardization and grading
d.
Distribution
119. In the practice of relationship marketing, the definition of a customer is taken to another level. Which of the
following best illustrates how a company practicing relationship marketing is different from a traditional transaction-
based marketer?
a.
The city pool allows kids 12 years and younger to swim for free on Fridays.
b.
A local coffee shop distributes coupons for $.50 off each cup of coffee.
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c.
The purchasing department of a defense contractor invites its suppliers to attend an annual golf outing.
d.
The heads of the financial departments meet with the Chief Financial Officer to discuss year-end financial
reporting.
120. The financing function of marketing involves:
a.
making sufficient quantities of goods available in the marketplace.
b.
ensuring products meet established quality and quantity standards.
c.
providing funds to buyers for building inventories prior to sales.
d.
using advertising, personal selling, and sales promotion to match goods and services to customers.
121. If a company such as J.B. Trucking wanted to avoid marketing myopia, it should define its business as:
a.
a provider of transportation solutions.
b.
a trucking company.
c.
a materials handling company.
d.
a freight hauling firm.
122. The NBA Sacramento Kings play their home games in the Arco Arena. The naming of their stadium is an example of
which one of the following five types of nontraditional marketing?
a.
Stadium naming rights marketing
b.
Sports team marketing
c.
Organization marketing
d.
Event marketing
e.
Place marketing
123. Which of the following is NOT a non-profit organization?
a.
Golden State Warriors - an NBA franchise
b.
Boston College, a private university
c.
Alzheimer's Association
d.
Boys and Girls Clubs of America
124. In this era of marketing, strategic alliances are (were) very important.
a.
The social era
b.
The production era
c.
The marketing era
d.
The sales era
e.
The relationship era
125. Assume you want to increase the number of customers by applying the marketing concept. Which of the following
strategies would be most consistent with this approach?
a.
Reduce product costs
b.
Offer more product variety than competitors
c.
Target markets
d.
Employ inexpensive labor
126. Availability of goods and services at convenient locations creates:
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a.
form utility.
b.
time utility.
c.
place utility.
d.
ownership utility.
127. Which one of the following statements about marketing is false?
a.
Mobile marketing refers to marketing messages transmitted via wireless technology.
b.
Effective relationship marketing relies heavily on data and computer databases.
c.
The lifetime value of a customer consists of the revenues and intangible benefits derived from the firm’s
relationship with the customer.
d.
Buzz marketing involves using airplanes to “buzz” outdoor events with flying banners.
e.
Interactive marketing gives more control to the customer.
128. Melissa is campaigning for Janet, her friend, who is contesting for the presidency of the student council at Riverdale
Junior College. Melissa’s effort is an example of _____ marketing.
a.
cause
b.
person
c.
place
d.
organization
129. A gaming corporation and a mobile manufacturer work together to develop unique games which are made available
on the applications of the phones. This is an example of:
a.
an exchange function.
b.
marketing research.
c.
social marketing.
d.
a strategic alliance.
130. Which of the following is an example of person marketing?
a.
A firm creating awareness of the importance of using public transport.
b.
A country promoting its sightseeing spots and cuisines.
c.
A mall being inaugurated by a popular commercial actor.
d.
A firm promoting an inter-state soccer match.
131. The _____ is a companywide consumer orientation with the objective of achieving long-run success.
a.
marketing myopia
b.
exchange process
c.
marketing concept
d.
seller’s market
132. The Today Show partnered with the US National Parks in 2016 to celebrate 100 years of national parks. Various
Today Show regulars such as Matt Lauer and Al Roker were featured visiting the parks. This campaign is an example of
_____ marketing, a type of nontraditional marketing.
a.
place
b.
person
c.
event
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d.
cause
133. You have worked in marketing for over twenty years, and you have seen the discipline and the environment it
operates in change dramatically over that period of time. However, you believe the marketing environment in the 21st
Century is changing at a pace faster than you have ever witnessed.
Which of the following statements is TRUE about the marketing environment in the 21st Century?
a.
The activities of the marketing organization must be broader in the 21st Century in order to avoid marketing
myopia.
b.
Social media and other technological advances have increased selling and marketing costs.
c.
E-commerce has not changed how firms reach new markets.
d.
Sustainability will not be an important consideration for the marketer in the 21st Century.
e.
Technology is negatively impacting the marketer’s ability to enhance relationships with customers and
suppliers.
134. Creating _____ utility is the responsibility of the production function.
a.
place
b.
form
c.
time
d.
ownership
135. ACB Ltd. provides credit to dealers, as well as buyers of Alfresco Automobiles. The marketing function performed
in this case is:
a.
financing.
b.
exchange.
c.
distribution.
d.
risk taking.
136. What are the subfunctions of physical distribution?
a.
Buying, selling, and financing
b.
Risk taking and market research
c.
Storing and transporting
d.
Standardizing and grading
137. Forever 21 is a popular fashion clothing company for women and often attracts customers to its website or retail
stores by posting pictures to its Facebook and Instagram account. Forever 21 has over 10 million followers on Instagram
and over 13 million on Facebook. What marketing era best describes Forever 21 and its approach to marketing activities?
a.
social
b.
marketing
c.
sales
d.
production
138. It cost your firm a lot of money to sponsor a talk on relationship marketing by a so-called business guru. You feel the
money was not well spent, because the speaker failed to discuss all key points. From the following list, choose the key
point(s) about relationship marketing that should have been covered in the talk.
a.
Relationship marketing broadens the scope of external marketing relationships.
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b.
Relationship marketing narrows the scope of external marketing relationships.
c.
Relationship marketing prioritizes external, customer-facing efforts over internal, intradepartmental efforts.
d.
To be successful in relationship marketing, firms must hire or develop a charismatic CEO.
e.
Relationship marketing is synonymous with social marketing.
139. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that
have values for customers, clients, partners, and society at large is called _____.
a.
marketing
b.
financing
c.
operations
d.
administration
140. As an official sponsor of the Olympics, The Coca-Cola Company engages in _____ marketing.
a.
place
b.
event
c.
person
d.
organization
141. Both customers and companies are making extensive use of social media sites such as Facebook, Twitter, Pinterest
and Instagram. These sites enable marketers to create and disseminate content and customers or followers may choose to
engage with the organization thereby controlling their exposure to the information. This activity is termed _________
marketing.
a.
interactive
b.
mobile
c.
shared
d.
user-controlled
142. An article titled, "Jeff Bezos Says Amazon is Seriously Serious about Drone Deliveries", recently appeared in a
widely circulated business publication. Which of the following statements is true about this statement and its relationship
to the Eight Universal Marketing Functions?
a.
This statement relates to the physical distribution function of storing.
b.
This statement relates to the exchange function of selling.
c.
This statement relates to the facilitating function of risk taking.
d.
This statement relates to the physical distribution function of transporting.
e.
This statement relates to the facilitating function of selling.
143. William Cutlery Inc. sells its products at its stores and via door-to-door sales. Selling, order taking, delivery, and
limited customer service are all conducted by the drivers. Which two marketing functions overlap as a result of the
drivers’ required responsibilities?
a.
Facilitation and distribution
b.
Exchange and facilitating
c.
Distribution and exchange
d.
Exchange and financing
144. Which of the following is true regarding the marketing concept?
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a.
During tough economic times, the marketing concept focuses on the objective of achieving short-term profits
instead of long-run success.
b.
The marketing concept believes that consumers will resist purchasing nonessential goods and services.
c.
The marketing concept emphasizes cutting costs and boosting revenues during tough economic times.
d.
A firm’s survival and growth are built into the marketing concept.
145. Interactive marketing refers to:
a.
sequential marketing efforts beginning with frontline salespersons and proceeding to detailed instructions by a
technical expert.
b.
marketing efforts vis-a-vis interactive programs where customers can post their queries directly to the
management.
c.
buyer–seller communications in which the customer controls the amount and type of information received
from a marketer.
d.
software-controlled marketing strategy which uses central databases to segment the market on various
demographic and psychographic factors.
146. State bureaus of tourism and conventions typically engage in _____ marketing.
a.
organization
b.
person
c.
place
d.
cause
147. Netflix has become a popular media streaming company and provides consumers the opportunity to view
programming at their leisure whenever it's convenient for them. In addition, consumers can stream programming on smart
TVs, tablets, computers or smart phones. What type of utility is Netflix offering?
a.
time
b.
convenience
c.
form
d.
ownership
148. Manufacturers create goods and services based on research and their belief that consumers need them. In doing so,
what marketing function are they performing?
a.
Financing
b.
Standardizing and grading
c.
Risk taking
d.
Physical distribution
149. Phoebe was asked to bring a can of food for the local food bank as the “price of admission” for a certain ceremony.
This is an example of _____.
a.
person marketing
b.
organization marketing
c.
ownership utility
d.
cause marketing
150. Which of the following is true of a company with strong market orientation?
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a.
It designs products with advantages and levels of quality compatible with its competitors.
b.
It assumes that customers will resist purchasing nonessential goods.
c.
It stresses on efficiency in producing a quality product, with the attitude toward marketing that “a good
product will sell itself.”
d.
It has a focus on new-product development and the introduction of innovative products.
151. What is the ultimate objective of relationship marketing?
a.
Find new customers
b.
Create regular purchasers
c.
Turn customers into advocates
d.
Turn customers into loyal supporters
152. When you first learn that your firm’s new Chief Marketing Officer has announced a major push to collaborate with
international suppliers, you are confused. In your last job, suppliers were viewed as adversaries who were always
increasing their prices and driving up the company’s costs. But in a podcast distributed to all employees, you feel the
CMO effectively explains this move as part of a broader relationship marketing strategy. Which point(s) does she make?
a.
She has identified a group of vendors who regularly discount their prices.
b.
By collaborating with international suppliers, she hopes to create a price discounting model that will improve
relationships with US suppliers.
c.
The company can avoid certain US taxes by buying from suppliers abroad.
d.
She plans to use strategic alliances with suppliers to create competitive advantages.
e.
This move involves a nontraditional supply strategy, which goes hand in hand with a relationship marketing
strategy.
153. Which of the following is true regarding marketing?
a.
The marketing concept emphasizes creating and maintaining short-term successful relationships with
customers and suppliers.
b.
Marketing encompasses such a broad scope of activities and ideas that settling on one definition is often
difficult.
c.
Marketing refers to an activity in which two or more parties give something of value to each other to satisfy
perceived needs.
d.
The marketing concept is a belief that consumers will resist purchasing nonessential goods and services.
154. Wild Escape advertises jungle safaris, chimpanzee tracking, and gorilla tracking tours. This is an example of _____.
a.
form utility creation
b.
place marketing
c.
organization utility
d.
sports marketing
155. Tim Howard, the goal keeper for the U.S. Men’s soccer team, has just signed a major marketing deal with your
company. You plan to utilize him in a variety of marketing campaigns leading up to the 2018 Men’s Soccer World Cup in
Russia. Which one of the following categories of nontraditional marketing will you emphasize in this situation?
a.
Sports marketing
b.
Person marketing
c.
Social media marketing
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d.
Place marketing
e.
Event marketing
156. What is the role of marketing in sustainability efforts?
a.
Firms stand to exploit newer markets that are opened up to them.
b.
Firms gain credibility from their efforts to protect the environment.
c.
Firms can expect to save on costs incurred in discarding older, ineffective technology in favor of newer, state-
of-the-art technology.
d.
Firms can increase their profitability by enhancing their carbon-footprint.
157. Fame-us is a talent hunt agency focusing on the youth looking to enter Hollywood. As part of their marketing
strategy, Fame-us generates time and place utility by:
a.
creating a nationwide advertising campaign to attract applicants.
b.
launching roadshows across cities and conduct talent hunts at campuses during Thanksgiving.
c.
endorsing their services using famous celebrities from Hollywood.
d.
opening a well-equipped studio with pre and post-production facilities.
158. Which of the following statements is correct regarding not-for-profit organizations?
a.
The sole common factor between not-for-profit organizations and for-profit firms is the financial bottom line.
b.
Not-for-profit organizations hope to generate as much revenue as possible to support their causes.
c.
Not-for-profit organizations are all found in the public sector.
d.
Historically, not-for-profit firms have had more exact goals and marketing objectives than for-profit firms.
159. Austin, Texas is host to a popular festival, South by Southwest (SXSW) which recently celebrated its 30th
anniversary. It has released dates for the new year and invites participants for the unique music, film, and interactive
events or sessions from March 10th through 19th. Which category of nontraditional marketing would best characterize
the marketing activities to attract attendees for the multi-day festival?
a.
event
b.
cause
c.
organization
d.
place
160. The revenues and intangible benefits accrued to the firm, minus the investment to attract and keep a customer is
known as the:
a.
gradient of return on investment.
b.
intangible benefit stream.
c.
investment-benefit differential.
d.
lifetime value of the customer.
161. Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which of the following would be an
appropriate way to apply this approach?
a.
Maximize production of goods
b.
Focus on meeting the needs of the consumers
c.
Offer more product variety than competitors
d.
Produce high quality goods
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162. Fred Foods Inc. provides free cereals and biscuits to support a program that aims to end hunger in various emerging
nations. This is an example of _____ marketing.
a.
organization
b.
person
c.
cause
d.
place
163. The most obvious distinction between not-for-profit and for-profit organizations is:
a.
not for-profit organizations have more exact marketing goals.
b.
not-for-profit organizations have a different view of what constitutes the bottom line.
c.
customers of not-for-profit organizations have more control.
d.
not-for-profit organizations market services not goods.
164. A corporate recruiter called you recently about a great marketing opportunity with a company headquartered in
Miami, Florida. He did not give you the name of the company, but he described it as follows:
1. Contributors of financial resources to the company sometimes try to influence the company’s marketing to promote
their own agenda.
2. More than 25% of the U.S. adult population works in one or more of these types of companies.
3. Earnings-per-share is not a major focus for this type of company.
4. Marketing is very important to the success of this type of company.
Which one of the following types of companies is the recruiter describing?
a.
A Fortune 500 company
b.
A special interest company
c.
A not-for-profit company
d.
A joint venture company
e.
A for-profit company
165. The marketing philosophy summarized by the phrase “a high-quality product will sell itself” is a characteristic of the
_____ era.
a.
production
b.
sales
c.
marketing
d.
relationship
166. An example of interactive marketing would be:
a.
a customer creating their own products, as in the case of Subway or Build-a-Bear.
b.
an intermediary wholesaler who links sale of goods from manufacturer to consumer.
c.
buyer-seller communication through the Internet and virtual reality kiosks.
d.
sponsoring local sports teams.
167. Starbucks has continued to garner a large share of customer's wallets by expanding their product offering - including
additional beverages such as beer and wine as well as an expanded food menu. Members of Starbucks rewards program
can also obtain free downloads on music, games and other applications. Starbucks strategy clearly emphasizes that the
stores are more than "just coffee" and have successfully managed to avoid ________.
a.
marketing myopia
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b.
competition
c.
consumer disenchantment
d.
single product focus
168. Which one of the following statements is true about past geopolitical events and the five eras in the history of
marketing?
a.
The production era was heavily influenced by the Korean War.
b.
The marketing era was interrupted by World War II.
c.
The sales era was heavily influenced the rise of capitalism in China.
d.
The social era was heavily influenced by the tearing down of the Berlin Wall.
e.
The sales era began during the Great Depression.
169. Sally Myers, head of marketing at Sally’s Salon, serviced six new customers over the past two weeks. Through a
feedback form, Sally learned that all of them had acted upon the opinions of their friends and family members. What Sally
encountered is an example of:
a.
transaction-based marketing.
b.
sales orientation.
c.
marketing myopia.
d.
buzz marketing.
170. Marketing myopia refers to management’s failure to recognize the broad scope and nature of its business. This can be
avoided if the firm adopts marketing oriented ideas and actions that are focused on satisfying customers by meeting their
needs. A firm can convey its focus on customer needs and satisfaction with its company slogan.
Which one of the following company slogans is least effective in conveying a focus on customer needs and satisfaction?
a.
“We Never Forget Who We Are Working For”
b.
“The Power of Choice”
c.
“Have It Your Way”
d.
“CHC Moves the Industry That Moves the World”
e.
“You’re in Good Hands”
171. Which of the following is true of relationship marketing?
a.
It focuses on finding new customers.
b.
It prefers not to maintain existing customers due to high costs.
c.
It does not believe in generating repeat sales.
d.
It believes in maintaining existing customers.
172. According to the text, once a company's customers have become "loyal supporters", the company should seek to
further the relationship with those customers so that they become _______.
a.
advocates
b.
referral generators
c.
clients
d.
repeat purchasers
173. The basic objective of place marketing is to:
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a.
attract visitors or new businesses to a particular area.
b.
influence others to accept the goals of the sponsoring organization.
c.
convince people to attend a sporting or cultural event.
d.
bring to the attention of the public some charitable issue.
174. DHL has developed a reputation as an international business specialist enabling companies who produce or distribute
products to economically ship finished goods to customers. Which function of marketing does DHL provide to
companies?
a.
transporting
b.
selling
c.
risk taking
d.
selling
175. Which of the following is NOT part of the definition of marketing?
a.
seek to solely satisfy the needs of the organization by earning a profit
b.
identifying customers
c.
creating value for customers, clients, partners, and society at large
d.
emphasizes the importance of creating and maintaining long-term relationships with customers and suppliers
176. The future growth of a company is endangered when management:
a.
adopts a consumer orientation.
b.
is aware of the scope of its business.
c.
is committed to maintaining a product-oriented philosophy.
d.
is focused on converting customer needs to wants.
177. The emergence of the marketing concept can best be explained by:
a.
higher production levels.
b.
greater sophistication in the production of goods.
c.
the shift from a seller’s market to a buyer’s market.
d.
a focus on product quality.
178. Banks have recently begun to install ATMs in supermarkets to address customers’ wants for instant cash when they
go shopping. What type of utility are banks creating for customers?
a.
Form
b.
Possession
c.
Place
d.
Ownership
179. Nations Bank has engaged in extensive marketing research to learn more about its customers - especially those in the
18 to 30 age group. The research identified that these consumers do not enjoy visiting a bank branch location and prefer
to manage their banking via their smart phone, tablet or computer. The bank has invested in sophisticated applications
which enable consumers to deposit checks, check their balances, pay bills, and transfer funds. Nations Bank believes this
investment in research to understand consumer needs enables them to develop the right array of services which will lead
to improved market success and overall performance. This is an example of a(n):
a.
marketing concept
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b.
consumer listening
c.
marketing advocation
d.
sales orientation
180. Many hotel chains offer free stays and other perks to repeat customers. This is an example of:
a.
relationship marketing.
b.
transaction-based marketing.
c.
interactive marketing.
d.
social marketing.
181. When a firm contributes to environment protection and human welfare programs, which type of behavior is it
exhibiting?
a.
Relationship marketing
b.
Social responsibility
c.
Economic neutrality
d.
One-to-one marketing
182. Products that can be produced, used, and disposed of with minimal impact on the environment are called:
a.
non-renewable products.
b.
bio-gradable products.
c.
sustainable products.
d.
modulated effluents.
183. Plastic bottles can take up to 1,000 years to decompose in a landfill. An enterprising entrepreneur recently developed
an alternative bottle made from algae that is biodegradable. The algae bottle is an example of a _______ product.
a.
sustainable
b.
new
c.
innovative
d.
creative
184. The Tour de Cure is a bicycle ride, not a race, to raise money for the American Diabetes Association and is held in
40 states nationwide. This is an example of:
a.
event marketing.
b.
organization marketing.
c.
person marketing.
d.
place marketing.
185. A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are
constant and the company relies on its marketing department to find customers for its output. This approach is consistent
with which era in marketing history?
a.
Production era
b.
Relationship era
c.
Marketing era
d.
Sales era
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186. The ability to transfer title to goods or services from marketer to buyer is described as:
a.
ownership utility.
b.
form utility.
c.
time utility.
d.
place utility.
187. _____ involves marketing philosophies, policies, procedures, and actions whose primary objective is the
enhancement of society.
a.
Social responsibility
b.
Customer orientation
c.
Ethics
d.
Relationship marketing
188. Which of the following functions of marketing involves advertising?
a.
Standardizing
b.
Buying
c.
Selling
d.
Storing
189. Your coffeehouse is struggling to build a customer base, despite your prime location adjacent to a big university.
When you confide in your former marketing professor, he tells you the problem is with insufficient time utility. How can
you address this aspect of your marketing?
a.
Encourage customers to relax and spend more time in the coffeehouse.
b.
Set up a kiosk in the campus bookstore.
c.
Lower prices over time.
d.
Open earlier in the morning.
e.
Create a beans-by-mail program to reduce people’s coffee shopping time.
190. An alliance between a not-for-profit organization and a for-profit organization:
a.
rarely benefits either party.
b.
often benefits both parties.
c.
typically benefits the not-for-profit more than the for-profit.
d.
typically benefits the for-profit more than the not-for-profit.
191. Edward Don & Company maintains over 12,000 food service and supply items for the hospitality industry as well as
any organization that provides food service such as hospitals, schools, or prisons. Customers enjoy the opportunity to
streamline their transactions by purchasing a large number of items from a single company. Customers may place orders
online or order from their Edward Don sales representative. Edward Don purchases their items directly from the
manufacturer and provides them to the business customer. What business function does Edward Don & Company
provide?
a.
wholesaling
b.
financing
c.
risk taking
d.
storing
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192. Buying and selling are:
a.
the two exchange functions of marketing.
b.
physical distribution functions.
c.
exchange and distribution functions, respectively.
d.
distribution and exchange functions, respectively.
193. Ethics are:
a.
beliefs or customs taught by one generation to the next, often orally.
b.
the social causes promoted by the company.
c.
established patterns of behavior that can be objectively verified within a particular social setting.
d.
the moral standards of behavior expected by society.
194. Which of the following statements is true regarding marketing myopia?
a.
A firm who focuses on product orientation endangers future growth
b.
Firms who apply a customer orientation are in danger of lower levels of profiability
c.
Failure to recognize the impact of social media can lead to myopia
d.
Marketing myopia only applies to companies with a physical or tangible product
Indicate one or more answer choices that best complete the statement or answer the question.
195. The newly elected president of a low-resourced, developing nation has hired marketing consultants to help his
country. Realistically, what can he expect the marketers to do?
a.
Reduce income inequality.
b.
Improve energy efficiency.
c.
Obtain loans from the World Bank and other global institutions.
d.
Get insight into the needs and wants of citizens.
e.
Improve the country’s image to attract international investment.
196. You are the director of a health and wellness center which was successfully launched by using only marketing tools
and techniques developed during the social era. Now that the business is established, the owner wants you to experiment
with other approaches. Which of the following would respond correctly to her request?
a.
Recruiting a nutritionist to blog on your website.
b.
Offering a mobile pay app for members.
c.
Creating a retail section in the center to sell workout clothes.
d.
Offering discounts on dues and merchandise to long-term members.
e.
Hiring an efficiency expert to reduce operating expenses.
197. In your recent performance review, you were advised to sharpen your skills in managing the facilitating functions of
marketing. You will begin by paying extra attention to which of the following activities?
a.
Building relationships with wholesalers and retailers.
b.
Evaluating studies of your customers’ needs and wants.
c.
Assessing the effectiveness of different advertising themes.
d.
Pursuing access to new sources of funds to finance inventories.
e.
Understanding government standards for grading and quality control.
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198. Marketers have been forced to adopt a more global perspective with their strategies. Which of the following is a key
factor in driving this change?
a.
Increasing international travel
b.
Increasing consumer spending in the United States
c.
Greater interdependence of the world's economies
d.
Increasing economic clout of special interest groups
e.
Changing political leadership in China
199. You work on the assembly line at Ford Motor Company. Your line produces the hot selling, Ford Focus hybrid. Your
line creates _________ utility for Ford’s customers.
a.
Product
b.
Form
c.
Value
d.
Place
e.
Ownership
200. Your boss, the CEO of a restaurant chain, is very bullish on nontraditional marketing. He has instructed you to
implement some of his team’s ideas in the next six months – but first, to flag any of the ideas that are inaccurate
applications of nontraditional marketing. Which of the following should you flag?
a.
Implement cause marketing by donating $1 from every dinner check to antipoverty agencies.
b.
Implement place marketing by locating new restaurants in impoverished urban areas that need economic
investment.
c.
Implement event marketing by sponsoring a high-profile sports tournament.
d.
Implement person marketing by obtaining endorsements of the company’s food from celebrity chefs.
e.
Implement organic marketing by switching to organic-certified ingredients.
201. You are pleased to learn that the firm you’ve just joined has begun a sustainability initiative. In fact, one of your first
assignments is to write a memo describing the key dimensions of such an effort. But when you submit a draft of the memo
to your supervisor, she points out at least one significant error. Identify the sentence(s) with a mistake.
a.
Sustainability must permeate a firm’s corporate strategy from the bottom up.
b.
Sustainability must permeate a firm’s corporate strategy from the top down.
c.
In order to minimize environmental impacts, successful sustainability efforts usually allow for some
performance reductions.
d.
Successful sustainability efforts minimize environmental impacts while maximizing performance.
e.
Sustainability is basically a cost containment strategy.
Match each definition to the corresponding term.
a.
utility
b.
buzz marketing
c.
exchange process
d.
seller’s market
e.
buyer’s market
f.
marketing myopia
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g.
social responsibility
h.
relationship marketing
i.
person marketing
j.
place marketing
k.
event marketing
l.
organization marketing
m.
interactive marketing
n.
lifetime value of a customer
o.
social marketing
p.
one-to-one marketing
q.
strategic alliances
r.
not-for-profit organizations
s.
ethics
t.
mobile marketing
u.
wholesalers
v.
transaction-based marketing
202. The want satisfying power of a product is its _____.
203. The _____ occurs when two or more parties exchange something of value.
204. A(n) _____ occurs when buyers outnumber sellers or product supply.
205. A(n) _____ occurs when there are more sellers (or products) than buyers.
206. _____ describes the current era in the history of marketing.
207. _____ results from management’s failure to recognize the scope of its business.
208. The American Cancer Society in the private sector and The Department of Natural Resources in the public sector are
examples of _____.
209. A musician endorses a certain automobile. This is an example of ____.
210. An advertisement titled “The Ultimate Place for a vacation” is an example of _____.
211. The concert of a French rock band was promoted by a certain firm in the United States. This is an example of _____.
212. Many not-for-profits utilize _____ in order to influence people to accept their goals or contribute in some way.
213. _____ refers to buyer and seller exchanges characterized by limited communications and little or no ongoing
relationships between the parties.
214. The _____ equals the revenues and benefits a customer brings to an organization, minus expenses to attract and
maintain the relationship.
215. The growth of wireless technology has given rise to a new marketing strategy called _____.
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216. Buyer-seller communications in which the customer controls the amount and type of information received from a
marketer is called _____.
217. The use of online social media as a communications channel for marketing messages is known as _____.
218. _____ is a customized marketing program designed to build long-term relationships with individual customers.
219. “Word-of-mouth” advertising that has grown in effectiveness with the advent of the Internet is called _____.
220. For-profit organizations and not-for-profit organizations often form _____.
221. _____ are intermediaries that operate between producers and resellers.
222. The moral standards of behavior expected by a society are known as _____.
223. Corporations that voluntarily recycle paper, glass and electronics practice _____.
224. Explain the concept of marketing. What are some common misconceptions about marketing?
225. What is the major difference between the sales era and marketing era?
226. List the eight universal functions of marketing.
227. Define ethics and social responsibility. Why are these two concepts important for marketers? Give an example of
each behavior.
228. Explain the need for and the role of A-Head: Marketing in Not-for-Profit Organizations.
229. List the four eras in marketing history in chronological order. Briefly describe the philosophy behind each era.
230. Compare the purchase of an AM/FM radio with the purchase of a satellite radio. Describe the creation of utility from
the perspective of the manufacturer and marketer. Describe the utility relationship between the customer and the marketer.
231. List the activities that marketers must perform in order to create the customers organizations want.
232. Describe the process of relationship building in marketing.
233. Explain the essence of marketing.
234. Give a brief description of strategic alliances and business partnerships.
235. Define lifetime value of a customer. How has Apple, with the development of the iPod product line and iTunes
software, gained a competitive advantage over competitors? Will Apple experience a higher or lower lifetime value of a
customer and why?
236. Explain the exchange and distribution functions of marketing.
237. Describe interactive marketing and social media. What are the advantages of interactive marketing and social
marketing?
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238. Differentiate between transaction-based marketing and relationship marketing.
239. Define marketing myopia, and describe how a company can overcome a myopic view. Give an example of a
successful avoidance of marketing myopia.
240. What are sustainable products? What are the benefits of sustainability efforts?
241. List and describe the five types of A-Head: Nontraditional Marketing. Give an example of each.
242. Define relationship marketing and explain its characteristics.
243. Define utility and discuss the four types of utility. Give examples and list the functional areas within an organization
that are responsible for each.
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Answer Key
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