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Marketing Chapter 1 Multiple Choice

16 Questions
Management Quizzes & Trivia

Multiple-choice quiz about marketing concepts

Questions and Answers
  • 1. 
    • A. 

      Marketing is much more than selling or advertising

    • B. 

      The cost of marketing is about 25 percent of the consumer's dollar

    • C. 

      Marketing affects every single aspect of your daily life

    • D. 

      Marketing discourages research and innovation

    • E. 

      All of the above are true statements

  • 2. 
    • A. 

      Advertising and selling are not really part of marketing

    • B. 

      Marketing is nothing more than a set of business activities performed by individual firms

    • C. 

      Marketing techniques have no application for nonprofit organizations

    • D. 

      Marketing is a social process and a set of activities performed by organizations

    • E. 

      A good product usually sells itself

  • 3. 
    Marketing:
    • A. 

      Is concerned with need-satisfying goods, but not with services

    • B. 

      Involves an attempt to anticipate customer or client needs

    • C. 

      Is primarily concerned with efficient use of resources and fair allocation not output

    • D. 

      Includes activities such as accounting, production, and financial management

    • E. 

      Is the process of selling and distributing manufactured goods

  • 4. 
    Macro-marketing:
    • A. 

      Is not concerned with the flow of goods and services from producers to consumers

    • B. 

      Seeks to match homogeneous supply capabilities with homogeneous demands for goods and services

    • C. 

      Refers to a set of activities performed by both profit and nonprofit organizations

    • D. 

      Focuses on the objectives of society

    • E. 

      All of the above are true statements

  • 5. 
    In advanced economies:
    • A. 

      Mass production with its economies of scale makes the cost of each product higher

    • B. 

      Exchange is simplified by discrepancies of quantity and assortment

    • C. 

      There is little need for marketing specialists

    • D. 

      Both supply and demand tend to be homogeneous in nature

    • E. 

      Producers and consumers experience a separation of values

  • 6. 
    Which of the following is NOT one of the "universal functions of marketing"?
    • A. 

      Production

    • B. 

      Standardization

    • C. 

      Financing

    • D. 

      Buying

    • E. 

      Transporting

  • 7. 
    Firms that specialize in providing marketing functions other than buying and selling are known as:
    • A. 

      Suppliers

    • B. 

      Intermediaries

    • C. 

      Advisors

    • D. 

      Collaborators

    • E. 

      Agents

  • 8. 
    • A. 

      Since marketing is concerned with many thousands of different products, there is no one set of marketing functions that applies to all products.

    • B. 

      Responsibility for performing marketing functions can be shifted and shared, but no function can be completely eliminated.

    • C. 

      From a micro viewpoint, every firm must perform all of a marketing functions.

    • D. 

      Marketing functions should be performed only marketing intermediaries or collaborators.

    • E. 

      Many marketing functions are not necessary in market-directed economies.

  • 9. 
    Which of the following statements about economic decision making is true?
    • A. 

      In a market-directed economy, the micro-level decisions of individual producers and consumers determine the macro-level decisions.

    • B. 

      Government planning usually works best when economies become more complex and the variety of goods and services produced

    • C. 

      The United States may be considered a pure market-directed economy.

    • D. 

      Command economies usually rely on market forces to determine prices.

    • E. 

      All of the above are true statements.

  • 10. 
    A firm that focuses its attention primarily on "selling" its present products in order to meet or beat competition is operating in which of the following "management eras"?
    • A. 

      Production era

    • B. 

      Sales era

    • C. 

      Marketing department

    • D. 

      Marketing company era

    • E. 

      Advertising era

  • 11. 
    • A. 

      "Our sales force was able to sell middlemen more of our new product than they can resell in all of this year."

    • B. 

      "Our marketing manager is coordinating pricing, product decisions, promotion, and distribution to help us show a profit at the end of the year."

    • C. 

      "The whole company is in good shape--demand exceeds what we can produce."

    • D. 

      "Our long-range plan--developed by our marketing manager--is to expand so that we can profitably meet the long-term needs of our customers."

    • E. 

      "Our new president previously led our marketing effort as Vice President of Sales."

  • 12. 
    Which of the following best explains what the "marketing concepts" means:
    • A. 

      Firms should spend more money on marketing than they have in the past.

    • B. 

      A firm's main emphasis should be on the efficient utilization of its resources.

    • C. 

      All of a firm's activities and resources should be organized to satisfy the needs of its customers--at a profit.

    • D. 

      A company's chief executive should previously have been a marketing manager.

    • E. 

      A firm should always attempt to give customers what they need regardless of the cost involved.

  • 13. 
    The difference between "production orientation" and "marketing orientation" is best explained as follows:
    • A. 

      There are no separate functional departments in a marketing-oriented firm.

    • B. 

      In a marketing-oriented firm, the total system's effort is guided by what individual departments would like to do.

    • C. 

      Production-oriented firms usually do not have a marketing manager.

    • D. 

      In a marketing-oriented firm, every department's activities are guided by what customers need and what the firm an deliver at a profit.

    • E. 

      All major decisions are based on extensive marketing research studies in marketing-oriented firms.

  • 14. 
    Customer value
    • A. 

      Is greater if benefits exceed costs.

    • B. 

      Become less important as competition increases.

    • C. 

      Is the same thing as low price.

    • D. 

      Affects a customer's relationship with a firm before and after a sale.

    • E. 

      Both a and d are true.

  • 15. 
    Which of the following statements about nonprofits is FALSE?
    • A. 

      Marketing is being more widely accepted by nonprofit organizations.

    • B. 

      The marketing concept is as important for nonprofit organizations as it is for business firms.

    • C. 

      IN business firms and in nonprofit organizations, support comes from satisfied customers.

    • D. 

      A nonprofit organization does not measure profit in the same way as a firm.

    • E. 

      The marketing concept provides focus in both business firms and nonprofit organizations.

  • 16. 
    • A. 

      Having a dog or cat can teach a child responsibility, but add expenses to the family budget.

    • B. 

      Some people like to smoke cigarettes, but the smell annoys many others.

    • C. 

      Aluminum soft-drink cans are convenient, but expensive to pick up along the highway.

    • D. 

      Nuclear power may reduce your fuel bill, but worry others.

    • E. 

      Driving fast can be fun, but is hazardous to other people.