Question 1

Which of the following statements about marketing environment forces is correct?

Accepted Answer

A)   They influence customers by affecting their lifestyles, standards of living, and preferences and needs for products.
B)   They do not influence customers' reactions to a firm's marketing mix.
C)   They fluctuate slowly and thereby create threats to a firm's marketing mix.
D)   They never fluctuate quickly.
E)   They do not influence the way a marketing manager performs certain marketing activities.

Question 2

Distribution, price, promotion, and product are all elements of_____

Accepted Answer

A)   marketing strategy.
B)   the marketing mix.
C)   a target market.
D)   a consumer good.
E)   a business strategy.

Question 3

The Marketing era was the period in which product and aggressive selling were no longer seen to suffice if customers either did not desire a product or preferred a rival brand, and in which customer needs were identified and satisfied

Accepted Answer

A) True 
 B)False

Question 4

The marketing concept is best defined as:

Accepted Answer

A)   a second definition of marketing.
B)   a philosophy stating that an organisation should try to satisfy customers' needs through a coordinated set of activities that allows the organisation to achieve its goals.
C)   the performance of business activities that direct the flow of goods and services from producer to customer or user.
D)   a philosophy stating that an organisation should attempt to accomplish its goals with no regard for the needs of customers.
E)   the inclusion of marketing activities in the activities of an organisation.

Question 5

A target market:

Accepted Answer

A)   involves a large number of customers.
B)   is a specific group of customers on whom a company focuses its marketing efforts.
C)   already has several competitors vying for customers' business.
D)   is the same as a salesperson's prospective client list.
E)   is a customer group classified as people with similar demographic characteristics.

Question 6

In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.

Accepted Answer

A) True 
 B)False

Question 7

Customers are the focal point of all marketing activities.

Accepted Answer

A) True 
 B)False

Question 8

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

Accepted Answer

A)  demographics
B)  buying behaviour
C)  retailer information
D)  personality differences
E)  stock market cycles

Question 9

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.

Accepted Answer

A) True 
 B)False

Question 10

Marketing efforts do not involve the design and development of products.

Accepted Answer

A) True 
 B)False

Question 11

_____ refers to minimising the resources an organisation must spend to achieve a specific level of desired exchanges.

Accepted Answer

A)   Effectiveness
B)   Productivity
C)   Efficiency
D)   Objectivity
E)   Cost cutting

Question 12

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organisation.

Accepted Answer

A) True 
 B)False

Question 13

Marketing management is the process of planning, organising, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently.

Accepted Answer

A) True 
 B)False

Question 14

The marketing concept stresses that a business organisation can best achieve its goal by providing customer satisfaction through coordinated activities.

Accepted Answer

A) True 
 B)False

Question 15

The process people use to determine the value of a product is not highly scientific.

Accepted Answer

A) True 
 B)False  True

Question 16

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

Accepted Answer

A) True 
 B)False  True

Question 17

____ is provision or transfer of goods, services and ideas.

Accepted Answer

A)   Marketing orientation
B)   Monetary price
C)   Product assessment
D)   Price assessment
E)   Value

Question 18

The marketing environment is a set of static, unchanging surroundings.

Accepted Answer

A) True 
 B)False  False

Question 19

During the market orientation, business people realised that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.

Accepted Answer

A) True 
 B)False

Question 20

At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships.

Accepted Answer

A) True 
 B)False

Exam 11: The Marketing Concept

Which of the following statements about marketing environment forces is correct?

Correct AnswerverifiedShow Answer

Distribution, price, promotion, and product are all elements of_____

Correct AnswerverifiedShow Answer

The Marketing era was the period in which product and aggressive selling were no longer seen to suffice if customers either did not desire a product or preferred a rival brand, and in which customer needs were identified and satisfied

Correct AnswerverifiedShow Answer

The marketing concept is best defined as:

Correct AnswerverifiedShow Answer

A target market:

Correct AnswerverifiedShow Answer

In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.

Correct AnswerverifiedShow Answer

Customers are the focal point of all marketing activities.

Correct AnswerverifiedShow Answer

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

Correct AnswerverifiedShow Answer

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.

Correct AnswerverifiedShow Answer

Marketing efforts do not involve the design and development of products.

Correct AnswerverifiedShow Answer

_____ refers to minimising the resources an organisation must spend to achieve a specific level of desired exchanges.

Correct AnswerverifiedShow Answer

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organisation.

Correct AnswerverifiedShow Answer

Marketing management is the process of planning, organising, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently.

Correct AnswerverifiedShow Answer

The marketing concept stresses that a business organisation can best achieve its goal by providing customer satisfaction through coordinated activities.

Correct AnswerverifiedShow Answer

The process people use to determine the value of a product is not highly scientific.

Correct AnswerverifiedTrue

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

Correct AnswerverifiedTrue

____ is provision or transfer of goods, services and ideas.

Correct AnswerverifiedShow Answer

The marketing environment is a set of static, unchanging surroundings.

Correct AnswerverifiedFalse

During the market orientation, business people realised that products, which by this time could be made relatively efficiently, would have to be promoted through much personal selling and advertising.

Correct AnswerverifiedShow Answer

At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the profitability of existing customers, and extending the duration of customer relationships.

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
True

Correct Answer
verified
True

Correct Answer
verified

Correct Answer
verified
False

Correct Answer
verified

Correct Answer
verified