Question 1

Marketing is defined as

Accepted Answer

A)  any activity used to advertise and promote a product or service.
B)  the set of activities needed to produce and deliver a product that produces the highest return on investment.
C)  the process of managing the supply chain to ensure that products are delivered where and when customers want them.
D)  the process of creating,communicating,and delivering value to customers and managing those relationships in ways that benefit the organization and its employees,customers,investors,and society as a whole.
E)  the process of targeting and selecting a group of consumers or organizational buyers in order to promote a product or servicE.

Question 2

The small green gecko is part of the brand that differentiates GEICO's auto insurance from that of other firms.

Accepted Answer

A) True 
 B)False

Question 3

When people think of what marketing entails,they typically think about the marketing mix element referred to as _______.

Accepted Answer

The answer of When people think of what marketing entails,they...

Question 4

The practice of measuring,managing,and analyzing market performance is referred to as marketing analytics.

Accepted Answer

A) True 
 B)False

Question 5

The combination of activities that represent everything a firm can do to influence demand for its good,service,or idea is called the _____ _____.

Accepted Answer

The answer of The combination of activities that represent everything...

Question 6

Determining what default privacy settings should be built into a company website is an ethical issue that relates to the product element of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 7

The set of multiple companies directly linked by one or more of the upstream and downstream flows of products,services,finances,and information from a source to a consumer is referred to as

Accepted Answer

A)  the production cycle.
B)  the supply chain.
C)  logistics.
D)  the marketing chain.
E)  marketing.

Question 8

The organizational function and set of processes for creating,communicating,and delivering value to customers and managing customer relationships in ways that benefit the organization and its employees,customers,investors,and society as a whole is referred to as __________.

Accepted Answer

The answer of The organizational function and set of processes...

Question 9

What is the first step in the ethical decision-making framework?

Accepted Answer

A)  Identify the stakeholders impacted by the decision.
B)  Determine the facts in an unbiased manner.
C)  Discuss the issue with the stakeholders.
D)  Consider how the issue will affect the stakeholders.
E)  Identify the ethical issue at hand.

Question 10

According to the AMA's Code of Ethics,to acknowledge the basic human dignity of all stakeholders represents the ethical value of _______.

Accepted Answer

The answer of According to the AMA's Code of Ethics,to...

Question 11

Much of the growth in U.S.firms ranging from McDonald's to General Motors comes from their expansion into _______ markets.

Accepted Answer

internatio...

Question 12

During what stage in the evolution of marketing did firms believe that quality products would sell themselves?

Accepted Answer

A)  relationship marketing
B)  sales orientation
C)  customer orientation
D)  production orientation
E)  marketing concept

Question 13

Daphne used to work in the city where she would take public transportation to work.However,she just took a new job in the suburbs and now not only has to find a place to live,but also has to buy a car to get to and from her job.For Daphne,these things represent

Accepted Answer

A)  a need.
B)  a dilemma.
C)  a want.
D)  a desire.
E)  a craving.

Question 14

The production era continued until consumer demand could not keep up with the growth in production and new strategies were needed to maximize success.

Accepted Answer

A) True 
 B)False

Question 15

In ethical decision making,what element of the marketing mix is affected when a firm is deciding whether or not to outsource jobs to other members of the supply chain?

Accepted Answer

A)  promotion
B)  place
C)  product
D)  price
E)  profitability

Question 16

Compare the following statements to determine which one is accurate regarding marketing analytics.

Accepted Answer

A)  Marketing analytics has not proven to be helpful in the allocation of resources.
B)  The pressure to be more data driven has played a large role in the growing use of marketing analytics.
C)  Marketing analytics is useful for analyzing the performance of products,but not for analyzing the performance of services or ideas.
D)  Budgets related to marketing analytics are expected to decline in the coming years.
E)  The advent of the Internet has reduced the need for marketers to engage in marketing analytics.

Question 17

The activity of buyers and sellers trading things of value so that each is better off as a result is referred to as

Accepted Answer

A)  a marketing interchange.
B)  bartering.
C)  personal selling.
D)  merchandising.
E)  an exchangE.

Question 18

What is the premise behind the marketing concept?

Accepted Answer

A)  a focus on satisfying the needs of the customer
B)  an interest in streamlining production processes
C)  utilizing all aspects of marketing to persuade consumers to buy
D)  focusing on keeping the company stakeholders satisfied
E)  a company-wide focus on increasing profits

Question 19

Marketers create value for customers when they develop products that allow consumers to satisfy their needs and wants through exchange relationships.

Accepted Answer

A) True 
 B)False

Question 20

What is the key to creating value?

Accepted Answer

A)  accurately advertising a product
B)  providing consumers with benefits that meet their needs and wants
C)  being the first to create a new product or service
D)  convincing consumers that they need a product,even if they do not perceive that they do
E)  making sure that products are priced lower than the competition

Exam 1: Why Marketing Matters to You

The production era continued until consumer demand could not keep up with the growth in production and new strategies were needed to maximize success.

Correct AnswerverifiedShow Answer

Marketers create value for customers when they develop products that allow consumers to satisfy their needs and wants through exchange relationships.

Correct AnswerverifiedShow Answer

Determining what default privacy settings should be built into a company website is an ethical issue that relates to the product element of the marketing mix.

Correct AnswerverifiedShow Answer

What is the first step in the ethical decision-making framework?

Correct AnswerverifiedShow Answer

During what stage in the evolution of marketing did firms believe that quality products would sell themselves?

Correct AnswerverifiedShow Answer

The set of multiple companies directly linked by one or more of the upstream and downstream flows of products,services,finances,and information from a source to a consumer is referred to as

Correct AnswerverifiedShow Answer

Daphne used to work in the city where she would take public transportation to work.However,she just took a new job in the suburbs and now not only has to find a place to live,but also has to buy a car to get to and from her job.For Daphne,these things represent

Correct AnswerverifiedShow Answer

The activity of buyers and sellers trading things of value so that each is better off as a result is referred to as

Correct AnswerverifiedShow Answer

Compare the following statements to determine which one is accurate regarding marketing analytics.

Correct AnswerverifiedShow Answer

The practice of measuring,managing,and analyzing market performance is referred to as marketing analytics.

Correct AnswerverifiedShow Answer

When people think of what marketing entails,they typically think about the marketing mix element referred to as _______.

Correct AnswerverifiedShow Answer

The small green gecko is part of the brand that differentiates GEICO's auto insurance from that of other firms.

Correct AnswerverifiedShow Answer

According to the AMA's Code of Ethics,to acknowledge the basic human dignity of all stakeholders represents the ethical value of _______.

Correct AnswerverifiedShow Answer

What is the premise behind the marketing concept?

Correct AnswerverifiedShow Answer

What is the key to creating value?

Correct AnswerverifiedShow Answer

The organizational function and set of processes for creating,communicating,and delivering value to customers and managing customer relationships in ways that benefit the organization and its employees,customers,investors,and society as a whole is referred to as __________.

Correct AnswerverifiedShow Answer

In ethical decision making,what element of the marketing mix is affected when a firm is deciding whether or not to outsource jobs to other members of the supply chain?

Correct AnswerverifiedShow Answer

Marketing is defined as

Correct AnswerverifiedShow Answer

Much of the growth in U.S.firms ranging from McDonald's to General Motors comes from their expansion into _______ markets.

Correct Answerverifiedinternatio...View AnswerShow Answer

The combination of activities that represent everything a firm can do to influence demand for its good,service,or idea is called the _____ _____.

Correct AnswerverifiedShow Answer

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internatio...
View Answer

The combination of activities that represent everything a firm can do to influence demand for its good,service,or idea is called the _ _.

Correct Answer
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