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Side A ------ Side B
Strategic planning is most effective when managers view it as an annual exercise ------ False
Customer value is the ratio of benefits to the pleasure necessary to obtain those benefits ------ False
Having a global vision means management recognizes and reacts to international marketing opportunities, is aware of threats from foreign competitors in all markets, and effectively utilizes international distribution networks.  ------ True
For a retail operation requiring a storefront, the component of the marketing mix called place is most important ------ True
All employees need to be customer-oriented because in the customer's eyes, the employee is the firm and may be the only firm representative the customer ever sees. ------ True
Retailers who have give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment ------ True
The ultimate goal of most marketing-oriented firms is profitability that results from satisfying the wants and needs of its consumers. ------ True
Although marketers cannot control the marketing mix, they can control the external environment in which their organization operates. ------ False
The phenomenon of working women has probably had a greater effect on marketing than has any other social change ------ True
South-Western Publishing sells its business textbooks to college bookstores, which in turn sell the books to students. South-Wester is engaged in business marketing ------ True
The emergence of the Internet has made buying and selling in business market is a process that is only efficient for the largest producer to pursue ------ False
Consumable items that do not become part of the final product are called raw materials ------ False
If consumer behavior is not well understood, a marketer will have difficulty creating an appropriate marketing mix. ------ True
Selective distortion occurs when consumers change information that conflicts with their feelings or beliefs. ------ True
AkPharm, Inc. has developed Cat-Sip, a lactose-free milk designed to be digestible by cats. The market for this product is cats. ------ False
Geography, psychographics, and benefit sought are examples of possible segmentation variables used by marketers ------ True
Use of the Internet can cut marketing research costs by 25 to 40 percent and provide results in half the time it takes to do traditional telephone surveys ------ True
Competitive intelligence allows managers to predict changes in business relationships, identify marketplace opportunities, and discover new or potential competitors ------ True
Disintermediation is the elimination of wholesalers and distributors from the marketing channel ------ True
Multiculturalism occurs when all major ethnic groups in an area are roughly equally represented ------ True
Recession is a general rise in prices with a corresponding increase in wages, which results in decreased purchasing power ------ False
The concept of marketing is the idea that people give up something to receive something ------ True
This is the Era of Generation "C", where "C" stands for CONTENT ------ True
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals ------ True
A marketing exchange cannot take place unless each party n the exchange has something that the other party values ------ True
The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customer's wants and needs while meeting organizational objectives. ------ True
The marketing plan is a written document that acts as a guidebook of marketing activities for a marketing manager ------ True
A common way to conduct a situation analysis is to perform a SWOT analysis, which means examining the company's environments for strengths, weaknesses, opportunities, and threats ------ True
A competitive advantage is some unique aspect of a firm's offering, or the firm itself, that causes target customers to patronize the firm rather than its competition ------ True
If the Pillsbury Company started a major promotional campaign for its Green Giant frozen vegetables with aggressive advertising and cents-off coupons to existing customers, it would be following a market development strategy ------ False
Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets ------ True
Having a cost advantage is a product or service differentiator that is hard to beat ------ True

Side A ------ Side B
Strategic planning is most effective when managers view it as an annual exercise ------ False
Customer value is the ratio of benefits to the pleasure necessary to obtain those benefits ------ False
Having a global vision means management recognizes and reacts to international marketing opportunities, is aware of threats from foreign competitors in all markets, and effectively utilizes international distribution networks.  ------ True
For a retail operation requiring a storefront, the component of the marketing mix called place is most important ------ True
All employees need to be customer-oriented because in the customer's eyes, the employee is the firm and may be the only firm representative the customer ever sees. ------ True
Retailers who have give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment ------ True
The ultimate goal of most marketing-oriented firms is profitability that results from satisfying the wants and needs of its consumers. ------ True
Although marketers cannot control the marketing mix, they can control the external environment in which their organization operates. ------ False
The phenomenon of working women has probably had a greater effect on marketing than has any other social change ------ True
South-Western Publishing sells its business textbooks to college bookstores, which in turn sell the books to students. South-Wester is engaged in business marketing ------ True
The emergence of the Internet has made buying and selling in business market is a process that is only efficient for the largest producer to pursue ------ False
Consumable items that do not become part of the final product are called raw materials ------ False
If consumer behavior is not well understood, a marketer will have difficulty creating an appropriate marketing mix. ------ True
Selective distortion occurs when consumers change information that conflicts with their feelings or beliefs. ------ True
AkPharm, Inc. has developed Cat-Sip, a lactose-free milk designed to be digestible by cats. The market for this product is cats. ------ False
Geography, psychographics, and benefit sought are examples of possible segmentation variables used by marketers ------ True
Use of the Internet can cut marketing research costs by 25 to 40 percent and provide results in half the time it takes to do traditional telephone surveys ------ True
Competitive intelligence allows managers to predict changes in business relationships, identify marketplace opportunities, and discover new or potential competitors ------ True
Disintermediation is the elimination of wholesalers and distributors from the marketing channel ------ True
Multiculturalism occurs when all major ethnic groups in an area are roughly equally represented ------ True
Recession is a general rise in prices with a corresponding increase in wages, which results in decreased purchasing power ------ False
The concept of marketing is the idea that people give up something to receive something ------ True
This is the Era of Generation "C", where "C" stands for CONTENT ------ True
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals ------ True
A marketing exchange cannot take place unless each party n the exchange has something that the other party values ------ True
The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customer's wants and needs while meeting organizational objectives. ------ True
The marketing plan is a written document that acts as a guidebook of marketing activities for a marketing manager ------ True
A common way to conduct a situation analysis is to perform a SWOT analysis, which means examining the company's environments for strengths, weaknesses, opportunities, and threats ------ True
A competitive advantage is some unique aspect of a firm's offering, or the firm itself, that causes target customers to patronize the firm rather than its competition ------ True
If the Pillsbury Company started a major promotional campaign for its Green Giant frozen vegetables with aggressive advertising and cents-off coupons to existing customers, it would be following a market development strategy ------ False
Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets ------ True
Having a cost advantage is a product or service differentiator that is hard to beat ------ True