Question 1

Retailers are businesses that sell to other businesses.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is not a characteristic of a business that has adopted the marketing concept?

Accepted Answer

A)   The marketing manager is a part of top management.
B)   The cost of marketing is higher than in other businesses.
C)   Marketing personnel work closely with other people in the business.
D)   Success is based on customer satisfaction.

Question 3

The marketing elements include product, price, place, and advertising.

Accepted Answer

A) True 
 B)False

Question 4

The product life cycle concept suggests that

Accepted Answer

A)   there is no such thing as a new product
B)   sales of a product will continue to grow
C)   profits will usually be higher than sales
D)   both sales and profits will ultimately decline

Question 5

The types of buyers a business wishes to attract and where those buyers are located are known as a

Accepted Answer

A)   marketing mix
B)   marketing plan
C)   market
D)   competitive advantage

Question 6

Obtaining goods to be resold is a marketing activity known as

Accepted Answer

A)   buying
B)   selling
C)   promoting
D)   wholesaling

Question 7

Match each item with the correct statement below.
-Amount of money given to acquire a 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

Question 8

As a product progresses through the product life cycle, its marketing mix

Accepted Answer

A)   remains consistent
B)   varies by stage
C)   increases
D)   decreases

Question 9

Two major methods of promotion are advertising and personal selling.

Accepted Answer

A) True 
 B)False

Question 10

Match each item with the correct statement below.
-Inexpensive goods that are purchased often, without a lot of thought or shopping around.

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 11

Match each item with the correct statement below.
-Businesses that buy from and sell to other businesses.

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 12

Firms in which the products to be manufactured and the manufacturing process to be used receive the most attention are

Accepted Answer

A)   sales-oriented
B)   customer-oriented
C)   marketing-oriented
D)   production-oriented

Question 13

Businesses that sell directly to the final consumer are

Accepted Answer

A)   wholesalers
B)   producers
C)   retailers
D)   all of the responses

Question 14

Businesses that emphasize distribution and promotion in order to sell the products produced are said to be sales-oriented.

Accepted Answer

A) True 
 B)False

Question 15

Match each item with the correct statement below.
-Products such as jewelry, clothes, and computer games.

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

Pricing is the easiest of the marketing decisions because it involves only setting a price that the customer will pay for the products.

Accepted Answer

A) True 
 B)False

Question 17

Consumer goods are products used by other businesses in the production of products for their consumers.

Accepted Answer

A) True 
 B)False

Question 18

Target markets are groups of customers with very similar needs to whom the company can sell its product.

Accepted Answer

A) True 
 B)False

Question 19

The average cost of marketing as a percentage of the selling price is

Accepted Answer

A)   about 15 percent
B)   about 50 percent
C)   70-80 percent
D)   over 90 percent

Question 20

Which of the following is not an element of the marketing mix?

Accepted Answer

A)   Place
B)   Price
C)   Product
D)   Purpose

Exam 20: Nature and Scope of Marketing

Retailers are businesses that sell to other businesses.

Correct AnswerverifiedShow Answer

The product life cycle concept suggests that

Correct AnswerverifiedShow Answer

The marketing elements include product, price, place, and advertising.

Correct AnswerverifiedShow Answer

Target markets are groups of customers with very similar needs to whom the company can sell its product.

Correct AnswerverifiedShow Answer

As a product progresses through the product life cycle, its marketing mix

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Businesses that buy from and sell to other businesses.

Correct AnswerverifiedShow Answer

Which of the following is not a characteristic of a business that has adopted the marketing concept?

Correct AnswerverifiedShow Answer

Businesses that sell directly to the final consumer are

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Inexpensive goods that are purchased often, without a lot of thought or shopping around.

Correct AnswerverifiedShow Answer

Which of the following is not an element of the marketing mix?

Correct AnswerverifiedShow Answer

Firms in which the products to be manufactured and the manufacturing process to be used receive the most attention are

Correct AnswerverifiedShow Answer

Pricing is the easiest of the marketing decisions because it involves only setting a price that the customer will pay for the products.

Correct AnswerverifiedShow Answer

Consumer goods are products used by other businesses in the production of products for their consumers.

Correct AnswerverifiedShow Answer

Businesses that emphasize distribution and promotion in order to sell the products produced are said to be sales-oriented.

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Amount of money given to acquire a product.

Correct AnswerverifiedShow Answer

Two major methods of promotion are advertising and personal selling.

Correct AnswerverifiedShow Answer

The types of buyers a business wishes to attract and where those buyers are located are known as a

Correct AnswerverifiedShow Answer

The average cost of marketing as a percentage of the selling price is

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -Products such as jewelry, clothes, and computer games.

Correct AnswerverifiedShow Answer

Obtaining goods to be resold is a marketing activity known as

Correct AnswerverifiedShow Answer

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