Chapter 1 Multiple-choice questions

Which of the following statements is correct?

Marketing is the term used to refer only to the sales function within a firm.

Marketing managers don't usually get involved in production or distribution decisions.

Marketing is an activity that considers only the needs of the organization; not the needs of society as a whole.

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

The term marketing refers to:

new product concepts and improvements.

advertising and promotion activities.

a philosophy that stresses customer value and satisfaction.

planning sales campaigns.

What is a person who uses business products called?

Customer.

Agency.

Consumer.

Wrecker.

What activity is geared around understanding and communicating with the customer to help in the design, development, delivery, and determination of the value inherent in the offering?

production

sales

finance

marketing

According to Leone and Shultz (1980), the law-like generalization 1 explains that ___________ has a direct and positive influence on total industry (market) sales.

increased consumer demand.

advertising

increase in urbanization.

elasticity

What is about how the offering's benefits and features are communicated to the potential buyer?

product

place

price

promotion

In relationship marketing firms focus on __________ relationships with __________.

short-term; customers and stakeholders

long-term; customers and stakeholders

short-term; customers

long-term; customers

What is about the concern with creating superior value by continuously developing and redeveloping offerings to meet customer needs?

interfunctional coordination

competitor orientation.

production orientation.

customer orientation.

Joint creation of value, in which customers take part in an active dialogue and co-construct personalized experiences, is referred to as:

interactive marketing.

co-creation experience.

relationship marketing.

organization marketing.

According to the Charted Institute of Marketing, which of the following is not a professional marketing competency?

Brand.

Sales tactics.

Digital Integration.

Customer Experience.

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

Promotion.

Product.

Target market.

Pricing.

The term 'marketing mix' describes:

a composite analysis of all environmental factors inside and outside the firm.

a series of business decisions that aid in selling a product.

the relationship between a firm's marketing strengths and its business weaknesses.

a blending of four strategic elements to satisfy specific target markets.

Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of:

Pricing

Distribution

Product development

Promotion

The way in which the product is delivered to meet the customers' needs refers to:

new product concepts and improvements.

selling.

advertising and promotion activities.

place or distribution activities.

The ______________is concerned with ideas of the 'marketing mix' and the 4Ps:

consumer services perspective.

business-to-business perspective.

societal perspective.

consumer goods perspective.

In public sector markets, the ____________ is bound by strict legal guidelines for contracts valued over a set amount.

promotional mix.

logistics function.

procurement process.

aggregate marketing system.

The ____________ delivers to us a wide array of offerings, either directly or indirectly, through business markets, to serve our wants and needs.

aggregate marketing system

planning excellence

a quality rift

a value line

A market orientation recognizes that:

price is the most important variable for customers.

market intelligence relating to current and future customer needs is important.

selling and marketing are essentially the same things.

sales depend predominantly on an aggressive sales force.

Four competing philosophies strongly influence the role of marketing and marketing activities within an organization. Which if the following is not a component of market orientation?

Customer orientation.

Profitability orientation.

Marketing orientation.

Competitor orientation.

In order for exchange to occur:

a complex societal system must be involved.

organized marketing activities must also occur.

a profit-oriented organization must be involved.

each party must have something of value to the other party.

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