Question 1

SouthFace Corporation just named Chloe Perry to a marketing management position. One of the reasons she accepted a position with this company was its reputation for market-oriented long-range planning. SouthFace Corp. is probably operating in the ______________ era.

Accepted Answer

A)   planning
B)   marketing company
C)   marketing research
D)   marketing department
E)   none of these is a correct answer.

Question 2

An effective macro-marketing system overcomes discrepancies of quantity and discrepancies of assortment by using the universal functions of marketing.

Accepted Answer

A) True 
 B)False

Question 3

If the family units on a South Pacific-island nation made all the products they consume, it would be a good example of:

Accepted Answer

A)   a pure subsistence economy.
B)   a market-directed economy.
C)   a micro-marketing system.
D)   a command economy.
E)   none of these is a correct answer.

Question 4

Which of the following is NOT a reason for you to study marketing?

Accepted Answer

A)   Marketing affects almost every aspect of daily life.
B)   Marketing will be important to your job.
C)   Marketing involves actually making the goods that people need.
D)   Marketing affects innovation and consumers' standard of living.
E)   Marketing plays a big part in economic growth and development.

Question 5

Which of the following statements is True regarding social responsibility in marketing?

Accepted Answer

A)   Being socially responsible usually leads to a negative response from customers.
B)   Being socially responsible can conflict with a firm's profit objective.
C)   Companies tend to avoid developing written codes of ethics because standards for professional behavior are ambiguous by nature.
D)   Firms tend to advance their own short-term interests at the expense of customers.

Question 6

A company has moved into the "marketing company era" when, in addition to short-run marketing planning, the total company effort is guided by the marketing concept.

Accepted Answer

A) True 
 B)False

Question 7

The advantages of working with an intermediary usually increase when there is

Accepted Answer

A)   excellent communication with customers.
B)   a greater number of customers.
C)   little distance between customers.
D)   a smaller number of competing products.

Question 8

Which of the following statements about marketing is FALSE?

Accepted Answer

A)   Marketing concepts and techniques apply for nonprofit organizations--as well as for profit-seeking organizations.
B)   Marketing offers many rewarding career opportunities.
C)   The cost of marketing is about 15 percent of the consumer's dollar.
D)   Marketing affects almost every part of your daily life.
E)   Marketing is vital for economic growth and development.

Question 9

The term "marketing orientation" means making products that are easy to produce and then trying to sell them.

Accepted Answer

A) True 
 B)False

Question 10

Myra Martinez was just named Treasure Island, Inc.'s "marketing manager"--with responsibilities for short-run policy planning of the firm's advertising, sales, marketing research, purchasing, and distribution efforts. Apparently, Treasure Island is operating in the ______________ era.

Accepted Answer

A)   market-oriented
B)   production
C)   marketing department
D)   marketing company
E)   sales

Question 11

Micro-marketing:

Accepted Answer

A)   is concerned with whether the whole economic system is fair and effective.
B)   applies only to profit organizations.
C)   consists only of personal selling and advertising.
D)   is a social process only.
E)   tries to anticipate and satisfy customer needs and accomplish an organization's objectives.

Question 12

Marketing can be viewed as a set of activities performed by organizations, but not as a social process.

Accepted Answer

A) True 
 B)False

Question 13

Marketing activities should be of no interest to a nonprofit organization.

Accepted Answer

A) True 
 B)False

Question 14

The "universal functions of marketing" consist only of buying, selling, transporting, and storing.

Accepted Answer

A) True 
 B)False

Question 15

Looking at marketing as a set of activities focuses on

Accepted Answer

A)   macro-marketing.
B)   for-profit marketing.
C)   micro-marketing.
D)   nonprofit marketing.
E)   personalized marketing.

Question 16

A manager with a "production orientation" is likely to think that:

Accepted Answer

A)   customers exist to buy the firm's output.
B)   customers' needs should guide decisions about what the firm produces.
C)   the company should find out what product customers want to buy, and then produce that product.
D)   production managers should handle all marketing activities.
E)   people in the production department should work closely with people from all the firm's other departments.

Question 17

An important step in applying the marketing concept is:

Accepted Answer

A)   changing the firm's organizational structure.
B)   changing the firm's management methods and procedures.
C)   appointing someone with a marketing management background to be the firm's president.
D)   hiring a marketing consultant.
E)   committing to customer satisfaction.

Question 18

Which of the following is the BEST example of the micro-macro dilemma?

Accepted Answer

A)   Pepsi Blue sales went up, but total sales of all soft drinks went down.
B)   A small group of loyal consumers really like RC Cola best, but most consumers don't like it at all.
C)   The deposit on returnable soft drink bottles is about equal to the cost of the bottle.
D)   Paper cups for soft-drinks are convenient, but they often end up as litter along the highway.
E)   Snapple beverages are more popular in Texas than in the rest of the U.S.

Question 19

MetroTech Corporation has been experiencing declining profits. The accounting department blames the MetroTech marketing staff for "out of control" sales costs. The salespeople blame the warehouse for being slow to fill orders. And the warehouse manager says that the production department can't meet its schedule. MetroTech seems to have

Accepted Answer

A)   implemented the marketing concept.
B)   a customer orientation.
C)   a marketing orientation.
D)   a sales orientation.
E)   a production orientation.

Question 20

When a firm produces a large quantity of a product, the cost of producing each individual unit usually goes down. This is known as:

Accepted Answer

A)   discrepancies of quantity.
B)   exchange efficiency.
C)   economies of scale.
D)   macro-marketing.
E)   discrepancies of assortment.

Exam 1: Marketing39s Value to Consumers, Firms, and Society

Which of the following is the BEST example of the micro-macro dilemma?

Correct Answer
verified

If the family units on a South Pacific-island nation made all the products they consume, it would be a good example of:

Correct Answer
verified

A manager with a "production orientation" is likely to think that:

Correct Answer
verified

SouthFace Corporation just named Chloe Perry to a marketing management position. One of the reasons she accepted a position with this company was its reputation for market-oriented long-range planning. SouthFace Corp. is probably operating in the ______________ era.

Correct Answer
verified

When a firm produces a large quantity of a product, the cost of producing each individual unit usually goes down. This is known as:

Correct Answer
verified

Marketing can be viewed as a set of activities performed by organizations, but not as a social process.

Correct Answer
verified

Which of the following statements is True regarding social responsibility in marketing?

Correct Answer
verified

Which of the following statements about marketing is FALSE?

Correct Answer
verified

An important step in applying the marketing concept is:

Correct Answer
verified

Which of the following is NOT a reason for you to study marketing?

Correct Answer
verified

The advantages of working with an intermediary usually increase when there is

Correct Answer
verified

An effective macro-marketing system overcomes discrepancies of quantity and discrepancies of assortment by using the universal functions of marketing.

Correct Answer
verified

The "universal functions of marketing" consist only of buying, selling, transporting, and storing.

Correct Answer
verified

Micro-marketing:

Correct Answer
verified

Looking at marketing as a set of activities focuses on

Correct Answer
verified

Myra Martinez was just named Treasure Island, Inc.'s "marketing manager"--with responsibilities for short-run policy planning of the firm's advertising, sales, marketing research, purchasing, and distribution efforts. Apparently, Treasure Island is operating in the ______________ era.

Correct Answer
verified

A company has moved into the "marketing company era" when, in addition to short-run marketing planning, the total company effort is guided by the marketing concept.

Correct Answer
verified

Marketing activities should be of no interest to a nonprofit organization.

Correct Answer
verified

Correct Answer
verified

The term "marketing orientation" means making products that are easy to produce and then trying to sell them.

Correct Answer
verified

Exam 1: Marketing39s Value to Consumers, Firms, and Society

Which of the following is the BEST example of the micro-macro dilemma?

Correct AnswerverifiedShow Answer

If the family units on a South Pacific-island nation made all the products they consume, it would be a good example of:

Correct AnswerverifiedShow Answer

A manager with a "production orientation" is likely to think that:

Correct AnswerverifiedShow Answer

SouthFace Corporation just named Chloe Perry to a marketing management position. One of the reasons she accepted a position with this company was its reputation for market-oriented long-range planning. SouthFace Corp. is probably operating in the ______________ era.

Correct AnswerverifiedShow Answer

When a firm produces a large quantity of a product, the cost of producing each individual unit usually goes down. This is known as:

Correct AnswerverifiedShow Answer

Marketing can be viewed as a set of activities performed by organizations, but not as a social process.

Correct AnswerverifiedShow Answer

Which of the following statements is True regarding social responsibility in marketing?

Correct AnswerverifiedShow Answer

Which of the following statements about marketing is FALSE?

Correct AnswerverifiedShow Answer

An important step in applying the marketing concept is:

Correct AnswerverifiedShow Answer

Which of the following is NOT a reason for you to study marketing?

Correct AnswerverifiedShow Answer

The advantages of working with an intermediary usually increase when there is

Correct AnswerverifiedShow Answer

An effective macro-marketing system overcomes discrepancies of quantity and discrepancies of assortment by using the universal functions of marketing.

Correct AnswerverifiedShow Answer

The "universal functions of marketing" consist only of buying, selling, transporting, and storing.

Correct AnswerverifiedShow Answer

Micro-marketing:

Correct AnswerverifiedShow Answer

Looking at marketing as a set of activities focuses on

Correct AnswerverifiedShow Answer

Myra Martinez was just named Treasure Island, Inc.'s "marketing manager"--with responsibilities for short-run policy planning of the firm's advertising, sales, marketing research, purchasing, and distribution efforts. Apparently, Treasure Island is operating in the ______________ era.

Correct AnswerverifiedShow Answer

A company has moved into the "marketing company era" when, in addition to short-run marketing planning, the total company effort is guided by the marketing concept.

Correct AnswerverifiedShow Answer

Marketing activities should be of no interest to a nonprofit organization.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The term "marketing orientation" means making products that are easy to produce and then trying to sell them.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified