1.Marketing is defined as
A. the process of targeting and selecting a group of consumers or organizational buyers in order to promote a product or service.
B. the process of creating, communicating, and delivering value to customers and managing those relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole.
C. the set of activities needed to produce and deliver a product that produces the highest return on investment.
D. the process of managing the supply chain to ensure that products are delivered where and when customers want them.
E. any activity used to advertise and promote a product or service.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: Define Marketing
Feedback: Maketing is not about just advertising and promotion. It is the process of communicating and delivering value to customers, and managing relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole.
2.As it relates to customers, the aim of marketing is to
A. provide customers with value.
B. increase profits by ensuring customers pay the highest price possible for a product.
C. accurately and truthfully advertise the product.
D. generate repeat sales from each and every customer.
E. reduce the number of customer complaints.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: Whether they are selling a product or a service, organizations today are constantly looking for new ways to create value for the customer.
3.Marketers define customer value as
A. selling a product regardless of whether or not it meets a customer's needs and/or wants.
B. the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it.
C. the ability to provide a product at the lowest possible price after covering all production expenses.
D. providing a product or a service to a customer such that he or she will purchase that same product or service again in the future.
E. being able to sell products that generate little to no customer returns or complaints.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: Customer value is the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it.
4.The perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it is referred to as
A. customer value.
B. relationship marketing.
C. the marketing mix.
D. a marketing exchange.
E. benefit segmentation.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: Customer value is the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it.
5.What is the key to creating value?
A. being the first to create a new product or service
B. making sure that products are priced lower than the competition
C. providing consumers with benefits that meet their needs and wants
D. convincing consumers that they need a product, even if they do not perceive that they do
E. accurately advertising a product
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: The key ingredient for creating value is providing consumers with benefits that meet their needs and wants. Merely creating a new product does not guarantee success.
6.After listening to customer requests for travel routes to the Northwest, Southwest Airlines has added cross-country routes to both Seattle and Portland. By providing its customers with benefits that meet their needs, Southwest is providing
A. customer value.
B. benefit segmentation.
C. a marketing mix.
D. benefit marketing.
E. customer service.
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: The key ingredient for creating value is providing consumers with benefits that meet their needs and wants. By adding new routes based on customer requests, Southwest is providing value to its customers.
7.What percentage of new products fail in the marketplace?
A. 5 to 10 percent
B. approximately 25 percent
C. over 80 percent
D. 50 percent
E. less than 3 percent
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: Consistently, over 80 percent of all new products introduced into the marketplace will fail regardless of whether economic conditions are good or bad.
8.According to your text, what is the secret of great marketing when it comes to creating value?
A. figuring out how to charge the highest price for a product that customers are willing to pay
B. understanding the marketplace demands before competitors do
C. consistently creating new products for the marketplace
D. convincing customers that they need a product even if they do not
E. saturating the market with all forms of advertising promotions
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: To create value, the new good, service, or idea must satisfy a perceived marketplace demand. Understanding marketplace demands before competitors do is one of the secrets of great marketing.
9.The Fantastically Fit health club has just opened a new location in your neighborhood. The club has mailed a flyer to all households in the area that contains information about the club and a coupon for a one-month free membership. In doing so, Fantastically Fit is most likely attempting to
A. market value.
B. explain value.
C. communicate value.
D. deliver value.
E. forecast value.
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: If customers do not know that a new health club exists in the neighborhood, the business could likely fail. By sending households information about the club, with a coupon for a one-month free membership, the health club is communicating what its product is and the value the product brings to potential customers.
10.On a personal level, as you begin looking for a job after you graduate, it will be critical for you to know how to
A. explain value.
B. communicate value.
C. forecast value.
D. deliver value.
E. market value.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: When it comes time to look for a job, if your resume looks like every other resume in the stack, odds are your value will not be communicated. It is critical to be able to communicate value to a potential employer if you wish to land a job.
11.Having an efficient supply chain is directly related to which element of value?
A. creating value
B. communicating value
C. marketing value
D. delivering value
E. forecasting value
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: The supply chain is a global network used to create and deliver products. An efficient and well-managed supply chain is critical in delivering value.
12.American Clothing Company manufactures clothes to be sold in retail stores. After the clothing is manufactured, it is shipped to wholesalers who, in turn, use transportation companies to ship the product to various retail outlets. The manufacturer, wholesaler, transportation company, and retailer all work together to create and deliver the product. This is an example of
A. forecasting value.
B. communicating value.
C. creating value.
D. delivering value.
E. marketing value.
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: The supply chain is a global network used to create and deliver products. Members of the supply chain can include manufacturers, wholesalers, retailers, transportation companies, and other groups, depending on the specific industry.
13.The set of multiple companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a consumer is referred to as
A. the production cycle.
B. marketing.
C. the supply chain.
D. logistics.
E. the marketing chain.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: A firm’s supply chain is a set of multiple companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer. Members of the supply chain can include manufacturers, wholesalers, retailers, transportation companies, and other groups, depending on the specific industry.
14.Which of the following would not be considered a member of a supply chain?
A. manufacturers
B. shipping companies
C. customers
D. wholesalers
E. retailers
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: Members of the supply chain can include manufacturers, wholesalers, retailers, transportation companies, and other groups, depending on the specific industry. Customers do not deliver products, so they are not considered part of the supply chain.
15.The process of planning, implementing, and controlling the flow of goods, services, and information between the point of origin and the point of consumption in order to meet customer requirements is called
A. operations.
B. logistics.
C. the supply chain.
D. production.
E. marketing.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: Logistics is the process of coordinating the flow of information, goods, and services among members of the supply chain.
16.Which of the following accurately depicts the stages in the evolution of marketing?
A. marketing concept, production orientation, sales orientation, relationship marketing
B. production orientation, sales orientation, marketing concept, relationship marketing
C. sales orientation, production orientation, marketing concept, relationship marketing
D. sales orientation, production orientation, relationship marketing, marketing concept
E. production orientation, marketing concept, relationship marketing, sales orientation
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: Marketing has evolved first from a production orientation, then to a sales orientation, then to a marketing concept and focuses today on relationship marketing.
17.Which era in the history of marketing began in the early years of the United States and lasted until the mid-1920s when the growth in production outpaced consumer demand?
A. sales orientation
B. marketing concept
C. customer orientation
D. relationship marketing
E. production orientation
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: Prior to the 1920s, most firms throughout the United States focused on production. The production orientation era lasted until the mid-1920s.
18.During what stage in the evolution of marketing did firms believe that quality products would sell themselves?
A. customer orientation
B. production orientation
C. marketing concept
D. relationship marketing
E. sales orientation
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The production era was a marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs. Firms with a production orientation believed that quality products would simply sell themselves.
19.A marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs was referred to as the
A. relationship marketing era.
B. marketing concept era.
C. customer orientation era.
D. sales orientation era.
E. production orientation era.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The production era was a marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs. Firms with a production orientation believed that quality products would simply sell themselves.
20.Which approach to marketing was especially important during the Great Depression when consumers did not have much money and firms competed intensely for customer sales?
A. sales orientation
B. production orientation
C. marketing concept
D. customer orientation
E. relationship marketing
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The sales orientation was a marketing strategy in which personal selling and advertising were used to persuade consumers to buy new products and more of existing products. This strategy was especially important during the Great Depression when firms had to compete intensely for sales.
21.Which era in the history of marketing continued until the end of World War II?
A. relationship marketing
B. customer orientation
C. production orientation
D. sales orientation
E. marketing concept
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The sales orientation era was especially important during the Great Depression and continued until the end of World War II.
22.Compare the following statements to determine which one best reflects the thinking behind the sales orientation era of marketing?
A. Our entire company needs to be focused on satisfying our customers' needs.
B. We need to find more efficient means of creating quality products.
C. It's time we develop a strategy to attract and maintain more customers.
D. We'd better persuade our customers to buy our products or they will buy from our competitors.
E. Our products are of such great quality, they practically sell themselves.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Analyze
Difficulty: 3 Hard
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The sales orientation era emphasized personal selling and competition between firms, so the statement about persuading customers to buy our products rather than products from competitors would be the best choice.
23.What is the premise behind the marketing concept?
A. an interest in streamlining production processes
B. a company-wide focus on increasing profits
C. a focus on satisfying the needs of the customer
D. focusing on keeping the company stakeholders satisfied
E. utilizing all aspects of marketing to persuade consumers to buy
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The marketing concept reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs.
24.The marketing concept began to emerge in the
A. 1930s.
B. 1990s.
C. 1920s.
D. 1970s.
E. 1950s.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: After two decades of economic depression and world war, the United States entered an era of expansion beginning in the early 1950s. As a result, a strategy focused on the consumer called the marketing concept began to emerge.
25.What era in the history of marketing best reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs?
A. marketing concept
B. production orientation
C. sales orientation
D. customer orientation
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The marketing concept reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs.
26.The focus of the marketing concept era was on
A. competition.
B. sales.
C. production.
D. customers.
E. technology.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The marketing concept reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs.
27.Compare the following statements regarding relationship marketing to determine which is most accurate?
A. Relationship marketing is best described as the use of personal selling to persuade consumers to buy products.
B. Relationship marketing depends upon the large scale customer data sets in order to craft customized offers to customers.
C. Relationship marketing is most successful when firms focus on attracting, maintaining, and enhancing customer relationships.
D. Relationship marketing has waned as a viable strategy with the advent of the Internet.
E. Very few companies in today's marketplace are engaged in relationship marketing.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Analyze
Difficulty: 3 Hard
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: Relationship marketing is a strategy that focuses on attracting, maintaining, and enhancing customer relationships.
28.Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance, as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to its website where customers can post pictures of themselves using the store's gear. These efforts illustrate how the firm is engaged in
A. logistics.
B. relationship marketing.
C. a sales orientation.
D. personal selling.
E. societal marketing.
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: Relationship marketing is a strategy that focuses on attracting, maintaining, and enhancing customer relationships.
29.Which of the following trends is accurate regarding the future of marketing?
A. Posting news and information online in social media sites has not proven to be as successful as marketers thought since consumers often doubt the accuracy of the information posted.
B. As technology impacts the business world, firms will need to explore new models that address what customers want and how they prefer to receive information.
C. The number of cable television subscribers has increased in recent years, signaling to marketers that television advertising is still the preferred choice for marketing products.
D. With the advent of technology, the basic goal of marketing has changed from how to create, communicate, and deliver value to consumers to how to better segment and target consumer markets.
E. Even though newspaper circulation has decreased in recent years, it is still the preferred way to advertise because of its low cost.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Analyze
Difficulty: 3 Hard
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: Regardless of how marketing evolves in the years ahead, the basic goal of marketing - to create, communicate, and deliver value - has not changed. What has changed is that firms will now need to explore new models that address what customers want and how they prefer to receive information.
30.In marketing, an exchange refers to
A. updating or replacing a nonprofitable product in hopes of generating more revenue.
B. buyers and sellers trading things of value so that each is better off as a result.
C. replacing a noneffective form of advertising for a more effective one.
D. the money paid by a consumer for a product or service.
E. two people bartering products and services for other products and services.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: In marketing, an exchange is an activity that occurs when a buyer and seller trade things of value so that each is better off as a result.
31.The activity of buyers and sellers trading things of value so that each is better off as a result is referred to as
A. merchandising.
B. a marketing interchange.
C. an exchange.
D. bartering.
E. personal selling.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: A marketing exchange takes place when buyers and sellers trade things of value so that each is better off as a result.
32.A local family is advertising a 5K run to raise awareness for autism since one of their children suffers from the disorder. Salina likes to run, so she decides to pay the fee to participate in the event. Afterward, she is pleased that she went and felt good about helping out the family. Would this be considered a marketing exchange?
A. no, because Salina did not receive anything for participating in the event
B. no, because the consumer needs of Salina were not met
C. yes, because the family had to pay for advertising and therefore was engaged in marketing
D. no, because the event involved a service but not a good
E. yes, because participating in the run was exchanged for Salina's feeling of satisfaction for helping the family
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: A marketing exchange takes place when buyers and sellers trade things of value so that each is better off as a result. In this example, the fee that Salina paid was exchanged for her feeling of satisfaction.
33.According to your text, what is the most basic concept in marketing?
A. satisfying the needs of stakeholders
B. streamlining production costs to generate maximum profits
C. determining the best advertising outlet for a product
D. determining the difference between consumer needs and wants
E. getting all members of an organization to agree on a marketing plan
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Your text notes that the difference between consumer needs and wants is perhaps the most basic concept in marketing. The job of a marketer is to match consumer needs with wants.
34.In marketing, states of felt deprivation are referred to as
A. opportunities.
B. desires.
C. wants.
D. cravings.
E. needs.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: In a marketing sense, needs are states of felt deprivation. Consumers feel deprived when they lack something useful or desirable like food, clothing, shelter, transportation, and safety.
35.In marketing terms, what is a person looking to satisfy if he or she feels deprived of basic necessities such as food, clothing, shelter, transportation, or safety?
A. a desire
B. a craving
C. a want
D. a dilemma
E. a need
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: In a marketing sense, needs are states of felt deprivation. Consumers feel deprived when they lack something useful or desirable like food, clothing, shelter, transportation, and safety.
36.Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent
A. a dilemma.
B. a want.
C. a need.
D. a desire.
E. a craving.
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: In a marketing sense, needs are states of felt deprivation. Consumers feel deprived when they lack something useful or desirable like food, clothing, shelter, transportation, and safety.
37.Which of the following products does not satisfy a consumer need?
A. a house
B. a home security system
C. a winter coat
D. cable television
E. groceries
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Needs occur when consumers feel deprived of basic necessities such as food, clothing, shelter, transportation, and safety. Cable television would be categorized as a want not a need.
38.Wants are the form that human needs take and are shaped by
A. culture, money, and geography.
B. personality, culture, and buying situation.
C. money, desire, and ability.
D. lifestyle, demographics, and economic conditions.
E. time, money, and expense.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Wants are the form that human needs take as they are shaped by personality, culture, and buying situation. Wants are influenced by many things including a consumer's family, job, and background.
39.What type of human need is shaped by personality, culture, or buying situation?
A. a necessity
B. a want
C. a craving
D. a demand
E. an emergency
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Wants are the form that human needs take as they are shaped by personality, culture, and buying situation. Wants are influenced by many things including a consumer's family, job, and background.
40.An advertisement shows a group of boys playing soccer on a hot day. When they take a break, the boys run to a cooler to find something to quench their thirst. Inside the cooler are water bottles, cans of soda, fruit juices, and Gatorade. Immediately, the boys fight over the Gatorade showing that it is clearly the best choice. In this ad, liquid refreshment represents a _____, and Gatorade represents a _____.
A. craving; preference
B. need; want
C. want; need
D. want; preference
E. craving; need
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Quenching one's thirst with liquid refreshment reflects a need; choosing Gatorade to fulfill that need represents a want.
41.Which of the following accurately represents the 4 Ps of the marketing mix?
A. product, price, promotion, and perception
B. product, price, place, and promotion
C. promotion, place, profit, and preference
D. production, promotion, profit, and participation
E. perception, preference, participation, and payment
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The marketing mix represents everything that a firm can do to influence demand for its good, service, or idea. The four Ps of the marketing mix are product, price, place, and promotion.
42.All of the following are elements contained in the 4 Ps of the marketing mix except
A. price.
B. profit.
C. promotion.
D. place.
E. product.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The marketing mix represents everything that a firm can do to influence demand for its good, service, or idea. The four Ps of the marketing mix are: product, price, place, and promotion.
43.The combination of activities that represent everything a firm can do to influence demand for its good, service, or idea is referred to as the marketing
A. concept.
B. plan.
C. model.
D. matrix.
E. mix.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The marketing mix represents everything that a firm can do to influence demand for its good, service, or idea. The four Ps of the marketing mix are: product, price, place, and promotion.
44.The four Ps are more formally referred to as the marketing
A. concept.
B. mix.
C. dimensions.
D. matrix.
E. framework.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The marketing mix represents everything that a firm can do to influence demand for its good, service, or idea. The four Ps of the marketing mix are: product, price, place, and promotion.
45.Which of the following questions relates to the place element of the marketing mix?
A. How do I want the public to view my product?
B. Do I need to hire salespeople?
C. Should I offer customers a discount?
D. How much inventory should I have?
E. How long has my product existed?
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Issues relating to the delivery of product, types of suppliers to use, and inventory decisions all relate to the element of place.
46.According to your text, any discussion of the marketing mix typically begins with which of the four Ps?
A. place
B. product
C. price
D. promotion
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The discussion of marketing mix typically begins with the product because, without it, a firm has few, if any, decisions to make when it comes to price, place, or promotion.
47.Which marketing mix element describes what a buyer exchanges with a seller?
A. product
B. place
C. perception
D. promotion
E. price
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Price is the amount of something (money, time, or effort) that a buyer exchanges with a seller to obtain a product.
48.Which marketing mix element is typically the easiest to change?
A. price
B. product
C. perception
D. promotion
E. place
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Pricing is typically the easiest marketing mix element to change, making it a powerful tool for firms looking to quickly adjust their market share or revenue.
49.Which marketing mix element involves decisions regarding logistics and managing the supply chain?
A. price
B. perception
C. place
D. product
E. promotion
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Place includes the activities a firm undertakes to make its product available to potential customers including decisions relating to locations, transportation, logistics, and managing the supply chain.
50.The owners of Have It Your Way Hot Dogs have decided to place an advertisement in the local minor league baseball team's program booklet. Which element of the marketing mix does this represent?
A. purpose
B. promotion
C. product
D. place
E. price
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Promotion includes advertising, public relations, personal selling, and sales promotion.
51.A new ice cream shop in town allows customers to create their own sundaes using various flavors of ice cream and toppings. The store owners have decided to have a contest for the most unique customer creation. They are asking customers to create a sundae, take a picture of their creation, and post it on their Facebook page as well as on Instagram so people can vote for their favorite. The winning creation will be featured on the shop's menu. This use of social media relates to which element of the marketing mix?
A. price
B. product
C. promotion
D. participation
E. place
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Social media allows the creation and exchange of user-generated content. In this case, the use of social media is helping to promote the product by allowing customers to share their creations with the people in their social networks. This in turn helps to promote the ice cream shop and its product.
52.The group of Internet-based applications that allow the creation and exchange of user-generated content is called
A. online applications.
B. web media.
C. network marketing.
D. social media.
E. Internet marketing.
AACSB: Technology
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Social media refers to a group of Internet-based applications that allow the creation and exchange of user-generated content.
53.What term is used to describe the increasingly interconnected nature of the world economy?
A. relationship marketing
B. internationalization
C. globalization
D. the marketing mix
E. the World Wide Web
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Global Marketing
Feedback: The increasingly interconnected nature of the world economy is referred to as globalization.
54.NAFTA is an international trade agreement between the United States
A. and Brazil.
B. Canada, and Mexico.
C. China, and Japan.
D. and Great Britain.
E. India, and China.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Trade Agreements, Monetary Unions and International Organizations
Feedback: The North American Free Trade Agreement (NAFTA) is an international trade agreement between the United States, Canada, and Mexico.
55.Compare the following statements to determine which one accurately describes the impact NAFTA has had on U.S. farmers.
A. Even though NAFTA has relaxed trade restrictions, farmers have been reluctant to ship products into other countries for fear of improper storage and/or contamination of their product.
B. Even though farmers can now ship and sell their products to other countries, the fees imposed for doing so have not allowed farmers to generate any profit.
C. Because of the heavy regulations imposed on exports, farmers have avoided exporting goods to participating NAFTA countries.
D. Because they have been able to ship and sell their produce to other countries, NAFTA has given farmers the opportunity to expand their business and increase profits.
E. Because of the negative view of NAFTA in other countries, U.S. farmers have found a difficult time getting their products shipped into those countries.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Analyze
Difficulty: 3 Hard
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Trade Agreements, Monetary Unions and International Organizations
Feedback: The relaxation of trade restrictions between the United States, Canada, and Mexico has had a positive impact on U.S. farmers, since they now can ship and sell their produce to these countries. This has allowed U.S. farmers to expand their businesses and increase profits.
56.What type of marketing strategy is a company using if it consciously addresses customers, markets, and competition throughout the world?
A. a domestic market strategy
B. a foreign investment agreement
C. an international trade agreement
D. a global marketing strategy
E. an import/export strategy
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Global Marketing
Feedback: Global marketing is a marketing strategy that consciously addresses customers, markets, and competition throughout the world.
57.The name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products is known as its
A. brand.
B. trademark.
C. identifier.
D. patent.
E. logo.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Branding Strategy
Feedback: A firm's brand is the name, term, symbol, design, or any combination of these that differentiates its product from that of its competitors.
58.Tony the Tiger and the slogan "They're Great!" are elements that help to identify Kellogg's _______ from that of its competitors
A. style
B. brand
C. trademark
D. logo
E. patent
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Branding Strategy
Feedback: A firm's brand is the name, term, symbol, design, or any combination of these that differentiates its product from that of its competitors. Tony the Tiger and the slogan They're Great have helped to identify Kellogg's Frosted Flakes from that of other cereals on the market.
59.The practice of measuring, managing, and analyzing market performance is referred to as
A. supply chain management.
B. logistics.
C. the marketing concept.
D. marketing analytics.
E. global marketing.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-06 Explain the role of analytics in marketing.
Topic: Marketing Analytics
Feedback: Marketing analytics is the practice of measuring, managing, and analyzing marketing performance.
60.When marketers evaluate whether a marketing campaign was successful by using metrics to measure performance, they are engaged in
A. brand management.
B. marketing analytics.
C. corporate social responsibility.
D. logistics.
E. global marketing.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-06 Explain the role of analytics in marketing.
Topic: Marketing Analytics
Feedback: Marketing analytics is the processes and technologies that enable marketers to evaluate the success of marketing initiatives by measuring performance using business metrics.
61.Compare the following statements to determine which one is accurate regarding marketing analytics.
A. Marketing analytics has not proven to be helpful in the allocation of resources.
B. The pressure to be more data driven has played a large role in the growing use of marketing analytics.
C. The advent of the Internet has reduced the need for marketers to engage in marketing analytics.
D. Budgets related to marketing analytics are expected to decline in the coming years.
E. Marketing analytics is useful for analyzing the performance of products, but not for analyzing the performance of services or ideas.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Analyze
Difficulty: 3 Hard
Learning Objective: 01-06 Explain the role of analytics in marketing.
Topic: Marketing Analytics
Feedback: Business executives are facing rising pressure to be more data driven, with marketing receiving particular scrutiny. The percentage of marketing budgets allocated for marketing analytics is expected to almost double in the next three years.
62.Your text defines ethics as moral standards expected by
A. an organization.
B. employees.
C. a society.
D. the AMA.
E. consumers.
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: Ethics are moral standards expected by a society.
63.Which of the following is not one of the ethical norms spelled out in the AMA's Code of Ethics?
A. citizenship
B. fairness
C. transparency
D. balance
E. honesty
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: The ethical values spelled out in the AMA's Code of Ethics are honesty, responsibility, fairness, respect, transparency, and citizenship.
64.Think about the ethical values set forth in AMA's Code of Ethics. Which value is represented when a firm accepts constructive criticism from customers and other stakeholders?
A. transparency
B. responsibility
C. honesty
D. fairness
E. respect
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: The ethical value of transparency relates to creating a spirit of openness in marketing operations. Striving to communicate clearly with all constituencies as well as accepting constructive criticism from customers and stakeholders helps to achieve this goal.
65.As noted in your text, what was the result when some of the world's most ethical companies were compared with the MSCI ACWI Index on a profitability measure?
A. The firms that were identified as ethical were significantly less profitable on the whole than the mix of companies included in the MSCI ACWI Index.
B. The firms that were identified as ethical were not as profitable initially, but then showed a pattern of unprecedented profit increase when compared with the mix of companies included in the MSCI ACWI Index.
C. The firms that were identified as ethical outperformed the mix of companies included in the MSCI ACWI Index through both positive and negative economic circumstances.
D. The firms that were identified as ethical were equally profitable on the whole to the mix of companies included in the MSCI ACWI Index.
E. The firms that were identified as ethical were more profitable initially, but then showed a pattern of declining profitability compared with the mix of companies included in the MSCI ACWI Index.
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: As noted in your text, firms that were identified as ethical outperformed the mix of companies included in the MSCI ACWI Index through both positive and negative economic circumstances.
66.How many steps are there in the ethical decision-making framework?
A. five
B. six
C. seven
D. eight
E. ten
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: There are eight steps in the ethical decision-making framework.
67.What is the first step in the ethical decision-making framework?
A. Discuss the issue with the stakeholders.
B. Consider how the issue will affect the stakeholders.
C. Determine the facts in an unbiased manner.
D. Identify the ethical issue at hand.
E. Identify the stakeholders impacted by the decision.
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: The first step in the ethical decision-making framework is to determine the facts in an unbiased manner. This must be done even before identifying the ethical issue at hand.
68.What step in the ethical decision-making framework is sometimes referred to as seeing through a problem to the other side?
A. Consider how the decision will affect the stakeholders.
B. Identify the ethical issue at hand.
C. Discuss the pending decision with the stakeholders.
D. Make the decision.
E. Consider all available alternatives.
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: Considering how the decision will affect the stakeholders is sometimes referred to as seeing through a problem to the other side because this step allows a firm to consider ahead of time how the decision will affect all stakeholders.
69.In ethical decision making, what element of the marketing mix is affected when a firm is deciding whether or not to outsource jobs to other members of the supply chain?
A. place
B. product
C. price
D. promotion
E. profitability
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: Each element of the marketing mix is affected by a firm's decisions. In ethical decision making regarding place, a firm might ask itself whether or not jobs should be outsourced to other members of the supply chain.
70.Which of the following questions would a firm ask if it were using the ethical decision-making framework regarding its product?
A. Should the firm increase prices due to a lack of local competition?
B. Are the relationships between wholesalers and retailers inappropriate?
C. What default privacy settings should be built into a website?
D. Does the advertising message attack competing products rather than highlight the benefits of the firm's product?
E. Does the advertising message represent the product's benefits honestly?
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: Since a website is a product itself, questions concerning how it should be set up are questions relating to the product element of the marketing mix.
71.What impact can a successful marketing campaign have on nonprofit organizations?
A. It would have no impact since nonprofit organizations do not require marketing campaigns.
B. It can help nonprofit organizations achieve a for-profit status.
C. It can allow nonprofit organizations to receive tax breaks from the government.
D. It can help to increase revenue and profits for the firm.
E. It can help nonprofit organizations attract members and raise much-needed funds.
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-08 Analyze the functions of marketing beyond the for-profit firm.
Topic: Nonprofit Marketing Environment
Feedback: As with for-profit firms, marketing efforts are an essential part of the success of nonprofit organizations. Successful marketing helps nonprofit organizations attract members and raise much-needed funds.
72.According to your text, taking a marketing course can help your career in all of the following ways EXCEPT:
A. helping you market yourself to get a job after college.
B. helping you communicate your value so that you get an interview.
C. helping you position yourself relative to others competing for the same job.
D. helping you determine what career field you should enter.
E. helping you reach professional goals.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-08 Analyze the functions of marketing beyond the for-profit firm.
Topic: Marketing Yourself
Feedback: Marketing principles can be used in many ways to help you market yourself after college. However, marketing principles do not help you determine what career field you should enter.
73.You have recently been hired by Complete Logistics. In your new role, you must coordinate and manage the transportation of the products between suppliers. Which element of the marketing mix does your job represent?
A. promotion
B. price
C. profit
D. place
E. product
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The place element of the marketing mix relates to decisions regarding the transportation, logistics, and supply chain management. By coordinating the transportation between suppliers, your new job deals primarily with place element decisions.
74.You are designing a marketing campaign to help the Boy Scouts of America recruit new members and volunteers to assist their organization. This type of marketing is referred to as:
A. services
B. for-profit
C. charity
D. head hunting
E. nonprofit
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: Nonprofit organizations are those whose motive is something other than to make a profit for owners. The campaign for the Boy Scouts helps recruit new scouts to the organization and add more volunteers to help serve the councils.
75.Your local coffee shop has recently implemented an app that allows customers to receive a free drink for every 10 drinks purchased, gives birthday rewards, and provides recommendations for new beverages to try based on prior purchasing history. This app attempts to maintain and enhance customers’ connection to the coffee shop. This reflects:
A. tech orientation
B. sales orientation
C. relationship marketing
D. guerrilla marketing
E. production orientation
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: Creating Customer Value
Feedback: Relationship marketing is a strategy that focuses on attracting, maintaining, and enhancing customer relationships. The coffee shop is trying to keep their customers happy and encourage more purchases in the future.
76.A _________ is the set of companies that allows products to flow from the source to the consumers, whereas __________ is the actual management process of planning, implementing, and controlling such flow.
A. supply chain; logistics
B. channels; supervising
C. logistics; management
D. logistics; supple chain
E. supply chain; supervising
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: A supply chain is a set of multiple companies directly linked by one or more of the upstream and downstream flows of products from a source to a customer. The part of supply chain management that plans, implements, and controls the flow of goods and services between the source and customers is referred to as logistics.
77.Determining the message that salespeople should use to communicate the value of the product and persuade customers to buy it relates to which element of the marketing mix:
A. promotion
B. price
C. place
D. product
E. profit
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: The Four Ps
Feedback: Promotion is all the activities that communication the value of a product and persuade customers to buy it through activities such as: advertising, sales promotions, personal selling, and even public relations.
78.Matt's Mobile Services has designed a cell phone plan especially for tech-savvy teens who are heavy cell-phone users and live in households earning over $150,000 per year. In tailoring the plan for a specific group of consumers based on their particular needs, Matt's Mobile Services has provided an example of ________.
A. the selling orientation
B. societal marketing
C. broadcasting
D. market targeting
E. the product concept
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Creating Customer Value
Feedback: By targeting the needs of a closely identified group of customers, companies are able to be more efficient and effective in their marketing efforts.
79.As consumers spend more time online and have more technological tools that enable them to avoid exposure to TV ads, marketers are ________.
A. investing in flashier television advertisements to attract attention to themselves
B. lobbying for legislation that will prohibit the sale of devices that allow consumers to avoid advertising on the basis that such devices are anti-competitive
C. blocking out any mention of brand names during regular programming
D. buying more air time in an attempt to crowd out their competitors' advertisements
E. shifting dollars from traditional display advertising to sites like Facebook that can deliver huge audiences
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: The Future of Marketing
Feedback: As the effectiveness of traditional promotional approaches have declined, marketers have invested a growing percentage of their budgets toward digital media.
80.The key assumption underlying the marketing concept is that ________.
A. consumers are most interested in obtaining generic products at low prices
B. consumers are unlikely to buy a product unless they are aggressively persuaded to do so
C. a company must determine the needs and wants of specific target markets and satisfy consumers' needs better than the competition
D. the primary focus of a business should be producing as much as it can, in the cheapest way possible
E. if manufacturers make a product, consumers will buy it
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Core Marketing Concepts
Feedback: The marketing concept suggests that a firm’s success is based on profitably satisfying customer needs better than its competitors.
81.________ is a process that links the consumer, customer and public to the marketer through information in order to identify marketing opportunities and problems, evaluate marketing actions, and evaluate marketing strategies' performances.
A. Marketing analytics
B. Marketing communication
C. Consumer behavior
D. Data collection
E. Data analysis
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Analytics
Feedback: Marketing analytics provides decision makers with key information that enables them to analyze and better respond to marketing problems.
82.The organizational function and set of processes for creating, communicating, and delivering value to customers and managing customer relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole is referred to as __________.
marketing
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: Define Marketing
Feedback: Marketing is not just about advertising and promotion. It is the process of communicating and delivering value to customers, and managing those relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole.
83.Customer ______ refers to the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it.
value
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: Creating Customer Value
Feedback: Customer value refers to the perceived benefits a customer receives from a product compared with the cost associated with obtaining it. These benefits can be both monetary and nonmonetary, such as the feeling of safety associated with purchasing a home security system.
84.Regardless of whether economic conditions are favorable or unfavorable, over _______ percent of products introduced in the marketplace will fail.
80 or eighty or 80%
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: Creating Customer Value
Feedback: Consistently, over 80 percent of all new products introduced into the marketplace will fail regardless of whether economic conditions are good or bad.
85.The linked set of companies that perform or support the delivery of a company's products to customers is referred to as the ______ ______.
supply chain
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: A firm's supply chain is the linked set of companies that perform or support the delivery of a company's products to customers. Members of the supply chain can include manufacturers, wholesalers, retailers, transportation companies, and other groups, depending on the specific industry.
86.______is the process of coordinating the flow of goods, information, and services among members of the supply chain.
Logistics
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Describe a marketer's role in creating, communicating, and delivering value.
Topic: The Value of Marketing
Feedback: The process of planning, implementing, and controlling the flow of goods, services, and information between the point of origin and the point of consumption in order to meet customers' requirements is called logistics.
87.Firms with a ________ orientation believed that quality products would simply sell themselves.
production
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The production era used a marketing strategy in which the firm focused on efficient processes and production to create quality products and reduce unit costs. Firms with a production orientation believed that quality products would simply sell themselves.
88.The ______ orientation era started in the mid-1920s and continued until the end of World War II.
sales or selling
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The sales era continued until the end of World War II.
89.The marketing concept reflects the idea that the long-term success for a firm must include a company-wide effort to satisfy _____ _____.
customer needs or the customer
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The marketing concept is characterized by a customer orientation, which stresses the idea that everyone in a firm should strive to assess, and then satisfy, the needs of consumers.
90.The slogan "Let's Build Something Together", used by Lowe's Home Improvement centers, signified to its customers that Lowe's was ready and willing to help them with all their project needs. This slogan reflects the _____ _____ strategy.
marketing concept
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The marketing concept is characterized by a customer orientation, which stresses the idea that everyone in a firm should strive to assess, and then satisfy, the needs of consumers.
91.The marketing strategy that focuses on attracting, maintaining, and enhancing customer relationships is called _____ _____.
relationship marketing
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-02 Differentiate among the various eras in the history of marketing.
Topic: Marketing Eras
Feedback: The marketing concept is characterized by a customer orientation, which stresses the idea that everyone in a firm should strive to assess, and then satisfy, the needs of consumers.
92.When a buyer and a seller trade things of value with each party being better off as a result, a(n) _______ has taken place.
exchange
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: An exchange takes place when a buyer and a seller trade things of value so that each is better off as a result.
93.A _______ can be described as a state of felt deprivation.
need
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Needs are states of felt deprivation. Consumers feel deprived when they lack something useful or desirable like food, clothing, shelter, transportation, and safety.
94.A _______ occurs when a person feels deprived of basic necessities such as food, clothing, shelter, transportation, and safety.
need
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: Needs are states of felt deprivation. Consumers feel deprived when they lack something useful or desirable like food, clothing, shelter, transportation, and safety.
95.The job of marketers is to focus on providing products that fulfill customers' wants, which in turn will satisfy their underlying _______.
needs
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: The distinction between needs and wants is important and not always black and white. Marketers focus on providing products that fulfill customers' wants, which in turn satisfy their underlying needs.
96.The better a firm understands the difference between customers' needs and wants, the more effectively it can _______ its message to convince customers to buy its good or service.
target
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-03 Distinguish between consumer needs and consumer wants.
Topic: Consumer Needs and Wants
Feedback: In order to target its message to the consumers most likely to purchase its product, a firm should strive to understand the difference between customers' needs and wants.
97.The four Ps are elements that make up the _____ _____.
marketing mix
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The marketing mix represents everything that a firm can do to influence demand for its good, service, or idea. The four Ps of the marketing mix provide marketers with the tools to increase customer awareness, sales, and profitability.
98.The four Ps are product, price, place, and _______.
promotion
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The four Ps of the marketing mix are product, price, place, and promotion.
99.The combination of activities that represent everything a firm can do to influence demand for its good, service, or idea is called the _____ _____.
marketing mix
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The marketing mix represents everything that a firm can do to influence demand for its good, service, or idea.
100.The central element in the marketing mix is _______, which is the element that all other decisions revolve around.
product
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The discussion of the marketing mix typically begins with the product because, without it, a firm has few, if any, decisions when it comes to price, place, or promotion.
101.Directly related to the value consumers place on a product, the element of ______ is one of the most important strategic decisions a firm faces.
price
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: The element of price is directly related to the value consumers place on the product. In addition, the price of a product can send a signal about product quality. Therefore, firms must carefully determine what they will charge for their products.
102.Typically, _______ is the easiest marketing mix element to change.
price
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Typically, price is the easiest marketing mix element to change, making it a powerful tool for firms looking to quickly adjust their market share or revenue.
103.In the marketing mix, _______ decisions relate to locations, transportation, logistics, and managing the supply chain.
place
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Place includes the activities a firm undertakes to make its product available to potential customers, which includes locations, transportation, logistics, and managing the supply chain.
104.When people think of what marketing entails, they typically think about the marketing mix element referred to as _______.
promotion
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Promotion is all the activities that communicate the value of a product and persuade customers to buy it. Because it involves advertising, public relations, personal selling, and promotion, it is the element that people typically associate with marketing.
105.The marketing mix element referred to as _______ includes advertising, public relations, personal selling, and sales promotion.
promotion
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Promotion is all the activities that communicate the value of a product and persuade customers to buy it. Because it involves advertising, public relations, personal selling, and promotion, it is the element that people typically associate with marketing.
106.A group of Internet-based applications that allow the creation and exchange of user-generated content is referred to as _____ _____.
social media
AACSB: Technology
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-04 Explain the four elements in the marketing mix.
Topic: The Four Ps
Feedback: Today, firms can communicate quickly and directly with their customers using a variety of online and digital tools, otherwise known as social media. The term social media refers to a group of Internet-based applications that allow the creation and exchange of user-generated content.
107._______ marketing is a marketing strategy that consciously addresses customers, markets, and competition throughout the world.
Global
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Global Marketing
Feedback: Modern marketers must not only create, communicate, and deliver value, but do so in a global marketplace. Global marketing is a marketing strategy that consciously addresses customers, markets, and competition throughout the world.
108.Much of the growth in U.S. firms ranging from McDonald's to General Motors comes from their expansion into _______ markets.
international or global or foreign
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Global Marketing
Feedback: Modern marketers must not only create, communicate, and deliver value, but also do so in a global marketplace. Much of the growth in U.S. firms has come from their expansion into international markets.
109.The increasingly interconnected nature of the world economy is referred to as _______.
globalization
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Global Marketing
Feedback: Globalization refers to the interconnected nature of the world economy.
110.______ is an international trade agreement between the United States, Canada, and Mexico.
NAFTA or The North American Free Trade Agreement
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Trade Agreements, Monetary Unions and International Organizations
Feedback: The North American Free Trade Agreement (NAFTA) relaxed trade restrictions between the United States, Canada, and Mexico.
111.The swoosh symbol on its shoes, its orange shoe boxes, and the slogan "Just Do It" are elements that help to identify Nike's ______ from other firms' products.
brand
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 01-05 Discuss the importance of globalization in the field of marketing.
Topic: Branding Strategy
Feedback: A firm actively promotes its brand, which is the name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products.
112.______ ______ is the practice of measuring, managing, and analyzing market performance.
Marketing analytics
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-06 Explain the role of analytics in marketing.
Topic: Marketing Analytics
Feedback: Marketing analytics is the practice of measuring, managing, and analyzing market performance. Broadly, it is the processes and technologies that enable marketers to evaluate the success of marketing initiatives by measuring performance using business metrics.
113.As a way to measure, manage, and analyze performance, marketing ______ is an essential tool for helping organizations make better decisions.
analytics
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-06 Explain the role of analytics in marketing.
Topic: Marketing Analytics
Feedback: Marketing analytics is the practice of measuring, managing, and analyzing market performance. Marketing analytics is an essential tool for helping organizations make better decisions.
114.Moral standards expected by a society are referred to as _______.
ethics
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: Ethics are the moral standards expected by a society. Ethical decision making should be a key component of a successful marketing approach.
115.The document that marketers can use as a guide in ethical decision making called the Code of Ethics was developed by the _______.
American Marketing Association or AMA
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: The American Marketing Association has published a thorough Code of Ethics, which marketers should read and adhere to. The AMA's Code of Ethics contains six ethical values: honesty, responsibility, fairness, respect, transparency, and citizenship.
116.According to the AMA's Code of Ethics, to acknowledge the basic human dignity of all stakeholders represents the ethical value of _______.
respect
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: The American Marketing Association's Code of Ethics should be read and adhered to by all marketers.
117.Large companies like Enron, WorldCom, and Arthur Andersen all failed due to their lack of ______.
ethics or an ethical code
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Role of Ethics in Marketing
Feedback: Ignoring ethical considerations has destroyed some of the largest companies in the world, including Enron, WorldCom, and Arthur Andersen.
118.There are _______ steps in the ethical decision-making framework.
eight or 8
AACSB: Ethics
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 Demonstrate the relationship between ethical business practices and marketplace success.
Topic: Ethical Decision Making
Feedback: Eight steps make up the ethical decision-making framework, which can be used in almost any marketing challenge.
119.Determining the facts in an unbiased manner is the ______ step in the ethical decision-making framework.
