Marketing Chapter Quiz Questions And Answers

Much more than selling or advertising

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

Discourages research and innovation

All of the above are true statements

Advertising and selling are not really part of marketing

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

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

A good product usually sells itself

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

Involves an attempt to anticipate customer or client needs

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

Includes activities such as accounting, production, and financial management

Is the process of selling and distributing manufactured goods

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

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

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

Focuses on the objectives of society.

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

Exchange is simplified by discrepancies of quantity and assortment

There is little need for marketing specialists

Producers and consumers experience a separation of values

Production

Standardization

Financing

Transporting

Suppliers

Intermediaries

Advisors

Collaborators

Agents

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

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

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

Marketing functions should be performed only marketing intermediaries or collaborators.

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

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

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

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

Command economies usually rely on market forces to determine prices.

All of the above are true statements.

Production era

Sales era

Marketing department

Marketing company era

Advertising era

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

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

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

"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."

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

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

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

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

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

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

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

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

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

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

Is greater if benefits exceed costs.

Become less important as competition increases.

Is the same thing as low price.

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

Both a and d are true.

Marketing is being more widely accepted by nonprofit organizations.

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

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

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

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

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

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

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

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

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