Question 1

Match each item with the correct statement below.
-All attributes, tangible and intangible, that consumers receive in exchange for the purchase price.

Accepted Answer

A)  consumer goods
B)  convenience goods
C)  growth stage
D)  industrial goods
E)  marketing conceptF) marketing mixG) maturity stageH) priceI) productJ) promotionK) retailersL) target marketsM) unsought goodsN) wholesalers I

Question 2

Finding the best marketing locations enables a business to operate more efficiently.

Accepted Answer

A) True 
 B)False

Question 3

Marketing activities, when performed well, help to match production and consumption.

Accepted Answer

A) True 
 B)False  True

Question 4

The goal of effective marketing is to create and maintain satisfying exchange relationships.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is a factor used to determine the consumer goods categories?

Accepted Answer

A)   Whether a product is an industrial or consumer good
B)   Whether the customer is willing to spend time to compare products
C)   The stage of the product life cycle
D)   All of the responses

Question 6

What percentage off all the people employed in the United States work in a marketing job or marketing business?

Accepted Answer

A)   1/2
B)   1/3
C)   1/4
D)   1/10

Question 7

When customers purchase a product regularly without a great deal of thought, the product is a(n)

Accepted Answer

A)   convenience good
B)   shopping good
C)   specialty good
D)   unsought good

Question 8

The blending of all decisions that relate to the four elements of marketing is called marketing research.

Accepted Answer

A) True 
 B)False

Question 9

Match each item with the correct statement below.
-Groups of people with similar needs to whom a business plans to sell its product.

Accepted Answer

A)  consumer goods
B)  convenience goods
C)  growth stage
D)  industrial goods
E)  marketing conceptF) marketing mixG) maturity stageH) priceI) productJ) promotionK) retailersL) target marketsM) unsought goodsN) wholesalers L

Question 10

One way that businesses respond to the maturity stage of the life cycle is to look for

Accepted Answer

A)   less profit
B)   new markets
C)   old products to reintroduce
D)   help from the government

Question 11

A company that adopts the marketing concept will use other firms that specialize in marketing to complete the major marketing activities.

Accepted Answer

A) True 
 B)False

Question 12

A marketing plan describes the goals the business wants to accomplish and the target markets it wants to serve.

Accepted Answer

A) True 
 B)False

Question 13

Attempting to reach all potential customers for a product is usually cost-prohibitive.

Accepted Answer

A) True 
 B)False

Question 14

A product is usually unsought because the customer

Accepted Answer

A)   cannot find the product
B)   has compared the product with other similar products
C)   does not have a strong need for the product
D)   wants the product but cannot afford it

Question 15

Match each item with the correct statement below.
-Businesses that sell directly to final consumers.

Accepted Answer

A)  consumer goods
B)  convenience goods
C)  growth stage
D)  industrial goods
E)  marketing conceptF) marketing mixG) maturity stageH) priceI) productJ) promotionK) retailersL) target marketsM) unsought goodsN) wholesalers

Question 16

A marketing plan can be used to help coordinate marketing activities.

Accepted Answer

A) True 
 B)False

Question 17

Marketing is defined as the transportation of products from producer to consumer.

Accepted Answer

A) True 
 B)False

Question 18

An example of a product in the decline stage of the life cycle is

Accepted Answer

A)   notebook computers
B)   cellular telephones
C)   microwave ovens
D)   phonograph records

Question 19

The place decision in the marketing mix involves determining

Accepted Answer

A)   where to manufacture the product
B)   where the product will be sold
C)   whether to offer credit to customers
D)   where to place the brand name on the product's package

Question 20

Match each item with the correct statement below.
-Blend of all decisions related to product, price, distribution, and promotion.

Accepted Answer

A)  consumer goods
B)  convenience goods
C)  growth stage
D)  industrial goods
E)  marketing conceptF) marketing mixG) maturity stageH) priceI) productJ) promotionK) retailersL) target marketsM) unsought goodsN) wholesalers

Exam 20: Nature and Scope of Marketing

Match each item with the correct statement below. -All attributes, tangible and intangible, that consumers receive in exchange for the purchase price.

Correct AnswerverifiedI

Finding the best marketing locations enables a business to operate more efficiently.

Correct AnswerverifiedShow Answer

Marketing activities, when performed well, help to match production and consumption.

Correct AnswerverifiedTrue

The goal of effective marketing is to create and maintain satisfying exchange relationships.

Correct AnswerverifiedShow Answer

Which of the following is a factor used to determine the consumer goods categories?

Correct AnswerverifiedShow Answer

What percentage off all the people employed in the United States work in a marketing job or marketing business?

Correct AnswerverifiedShow Answer

When customers purchase a product regularly without a great deal of thought, the product is a(n)

Correct AnswerverifiedShow Answer

The blending of all decisions that relate to the four elements of marketing is called marketing research.

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Groups of people with similar needs to whom a business plans to sell its product.

Correct AnswerverifiedL

One way that businesses respond to the maturity stage of the life cycle is to look for

Correct AnswerverifiedShow Answer

A company that adopts the marketing concept will use other firms that specialize in marketing to complete the major marketing activities.

Correct AnswerverifiedShow Answer

A marketing plan describes the goals the business wants to accomplish and the target markets it wants to serve.

Correct AnswerverifiedShow Answer

Attempting to reach all potential customers for a product is usually cost-prohibitive.

Correct AnswerverifiedShow Answer

A product is usually unsought because the customer

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Businesses that sell directly to final consumers.

Correct AnswerverifiedShow Answer

A marketing plan can be used to help coordinate marketing activities.

Correct AnswerverifiedShow Answer

Marketing is defined as the transportation of products from producer to consumer.

Correct AnswerverifiedShow Answer

An example of a product in the decline stage of the life cycle is

Correct AnswerverifiedShow Answer

The place decision in the marketing mix involves determining

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Blend of all decisions related to product, price, distribution, and promotion.

Correct AnswerverifiedShow Answer

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