Marketing Chapter Quiz Questions And Answers

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Marketing Chapter Quiz Questions And Answers - Quiz


Hey, do you think marketing is an interesting subject? If yes, then we have got the perfect quiz for you today. Check out this 'marketing chapter quiz' given below. Here, we'll ask you a few interesting MCQ questions related to the concepts of marketing. If you think you have a good understanding of this topic, then you must try your hands on this quiz. Let's see how much you can score. If your final score is more than 75%, it means you have passed this test.


Questions and Answers
  • 1. 

    According to the text, marketing is 

    • A.

      Much more than selling or advertising

    • B.

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

    • C.

      Discourages research and innovation

    • D.

      All of the above are true statements

    Correct Answer
    A. Much more than selling or advertising
    Explanation
    The text states that marketing is "much more than selling or advertising." This implies that marketing involves activities beyond just promoting and selling products. It suggests that marketing encompasses various strategies and techniques aimed at understanding and meeting consumer needs, creating brand awareness, building customer relationships, and driving business growth. Therefore, the correct answer is "much more than selling or advertising."

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  • 2. 

    The marketing concept stresses that:

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

    • D.

      A good product usually sells itself

    Correct Answer
    C. Marketing is a social process and a set of activities performed by organizations
    Explanation
    The marketing concept emphasizes that marketing is not just about advertising and selling, but rather it is a social process that involves a set of activities performed by organizations. This means that marketing involves more than just promoting and selling products, but also includes activities such as market research, product development, pricing, distribution, and customer relationship management. It recognizes that marketing is a holistic approach that considers the needs and wants of customers, as well as the larger societal and organizational goals.

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  • 3. 

    Which of the following statements is true for 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

    Correct Answer
    B. Involves an attempt to anticipate customer or client needs
    Explanation
    Marketing involves an attempt to anticipate customer or client needs. This means that marketing professionals analyze market trends, conduct market research, and gather customer insights to understand what customers want and need. By anticipating these needs, marketers can develop effective strategies to meet customer demands and create products or services that cater to those needs. This statement highlights the proactive nature of marketing in understanding and satisfying customer needs.

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  • 4. 

    Choose the most appropriate statement related to 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.

    Correct Answer
    D. Focuses on the objectives of society.
    Explanation
    The statement "focuses on the objectives of society" is the most appropriate statement related to macro-marketing. Macro-marketing is a concept that looks beyond the flow of goods and services from producers to consumers. It emphasizes the broader societal impact of marketing activities and aims to achieve societal objectives such as consumer welfare, environmental sustainability, and social responsibility. It considers the long-term effects of marketing decisions on society as a whole, rather than just focusing on individual transactions or profit maximization.

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  • 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.

      Producers and consumers experience a separation of values

    Correct Answer
    D. Producers and consumers experience a separation of values
    Explanation
    In advanced economies, producers and consumers experience a separation of values. This means that the values placed on a product by the producers may not align with the values placed on the same product by the consumers. This could be due to various factors such as different perceptions, preferences, or priorities. As a result, there may be a disconnect between what the producers believe the product is worth and what the consumers are willing to pay for it. This separation of values can impact pricing strategies and market dynamics in advanced economies.

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  • 6. 

    Which of the following is NOT one of the "universal functions of marketing"?

    • A.

      Production

    • B.

      Standardization

    • C.

      Financing

    • D.

      Transporting

    Correct Answer
    A. Production
    Explanation
    The correct answer is Production. The universal functions of marketing refer to the fundamental activities that are performed in the marketing process. These functions include buying, selling, transporting, storing, financing, standardizing, and risk taking. While production is an essential aspect of business operations, it is not considered one of the universal functions of marketing.

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  • 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

    Correct Answer
    D. Collaborators
    Explanation
    Collaborators refers to firms that specialize in providing marketing functions other than buying and selling. These firms work closely with businesses to help them in various marketing activities such as advertising, promotions, market research, and brand management. Collaborators play a crucial role in assisting companies to develop effective marketing strategies and reach their target audience. They work in partnership with businesses to enhance their marketing efforts and achieve their goals.

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  • 8. 

    Which of the following is a true statement?

    • 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.

    Correct Answer
    B. Responsibility for performing marketing functions can be shifted and shared, but no function can be completely eliminated.
    Explanation
    This statement is true because marketing functions can be delegated or shared among different individuals or departments within a company, but there is no function that can be completely eliminated. Each function serves a specific purpose in the marketing process and contributes to the overall success of the marketing strategy.

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  • 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.

    Correct Answer
    A. In a market-directed economy, the micro-level decisions of individual producers and consumers determine the macro-level decisions.
    Explanation
    In a market-directed economy, the micro-level decisions of individual producers and consumers determine the macro-level decisions. This means that the overall economic decisions, such as what goods and services to produce and how much to produce, are determined by the actions and choices made by individual producers and consumers in the market. This is based on the principle of supply and demand, where producers respond to consumer demand and consumers make choices based on their preferences and budget constraints. This decentralized decision-making process is believed to be more efficient and effective in allocating resources compared to government planning or command economies.

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  • 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

    Correct Answer
    B. Sales era
    Explanation
    The correct answer is Sales era. In the sales era, the firm's main focus is on selling its present products in order to meet or beat competition. This means that the company is primarily concerned with generating sales and increasing revenue through aggressive sales techniques and tactics. The emphasis is on pushing the products onto the market rather than understanding and meeting customer needs. This era is characterized by a high level of competition and a sales-driven approach to business.

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  • 11. 

    Based on the following company statements, which company is most likely to be in the marketing company era?

    • 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."

    Correct Answer
    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."
    Explanation
    The statement suggests that the company is focused on long-term planning and meeting the needs of its customers. This aligns with the concept of the marketing company era, where companies prioritize customer satisfaction and long-term profitability. Additionally, the mention of a marketing manager coordinating pricing, product decisions, promotion, and distribution further supports the idea that the company is operating in the marketing company era.

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

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

    Correct Answer
    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.
    Explanation
    In a marketing-oriented firm, every department's activities are guided by what customers need and what the firm can deliver at a profit. This means that all departments within the firm, including production, sales, and customer service, are focused on understanding and meeting customer needs. The firm prioritizes customer satisfaction and profitability, and all decisions are made with these factors in mind. This approach ensures that the firm is customer-centric and responsive to market demands, leading to a higher likelihood of success in the competitive marketplace.

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  • 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.

    Correct Answer
    E. Both a and d are true.
    Explanation
    The correct answer is "both a and d are true." This means that customer value is greater when the benefits of a product or service exceed the costs, and it also affects a customer's relationship with a firm before and after a sale. In other words, when customers perceive that they are getting more benefits than what they are paying for, they are more likely to have a positive relationship with the company. This understanding is crucial for businesses to provide value to their customers and maintain strong customer relationships.

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  • 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.

    Correct Answer
    C. IN business firms and in nonprofit organizations, support comes from satisfied customers.
    Explanation
    This statement is false because in nonprofit organizations, support typically comes from donors, volunteers, and other stakeholders, rather than satisfied customers. Nonprofits rely on fundraising and grants to support their mission and activities, rather than generating profit from customers.

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  • 16. 

    Which of the following is NOT an example of the micro-macro dilemma?

    • 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.

    Correct Answer
    A. Having a dog or cat can teach a child responsibility, but add expenses to the family budget.
    Explanation
    The micro-macro dilemma refers to a situation where a decision or action that benefits an individual or a small group may have negative consequences for society as a whole. In the given options, all of them represent examples of the micro-macro dilemma except for "Having a dog or cat can teach a child responsibility, but add expenses to the family budget." This statement does not involve a conflict between individual benefits and societal consequences. Instead, it simply presents a trade-off between teaching responsibility and incurring expenses within the family unit.

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  • Current Version
  • Mar 27, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 12, 2011
    Quiz Created by
    Brentito
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