QUESTION 1
1. Rising promotion costs and shrinking profit margins are the result of ________.
new and improved technology
disintermediation
industry convergence
privatization
heightened competition
QUESTION 2
1. Car rental firms, hair dressers, and management consultants provide ________.
goods
experiences
events
services
information
QUESTION 3
1. Julia is worried about the rising pollution levels in her city. She doesn't mind paying extra for goods and services that use sustainable processes to help control pollution. This is an example of ________ for pollution.
declining demand
nonexistent demand
latent demand
negative demand
unwholesome demand
QUESTION 4
1. When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of ________.
deregulation
reverse auctioning
reintermediation
disintermediation
diversification
QUESTION 5
1. Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
selling-oriented
product-oriented
production-oriented
marketing-oriented
consumer-oriented
QUESTION 6
1. Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc., follows the ________ concept in doing business.
production
product
selling
marketing
social responsibility
QUESTION 7
1. Which of the following is most consistent with the integrated marketing approach?
A good product will sell itself.
If left alone, consumers are inclined to purchase only inexpensive products.
All communication to consumers must deliver a consistent message irrespective of the medium.
In order to succeed, the main focus should be on having an efficient production process in place.
Online marketing is less important than traditional marketing efforts.
QUESTION 8
1. The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
selling concept
integrated marketing concept
social responsibility marketing concept
production concept
relationship marketing concept
QUESTION 9
1. Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles, especially senior management?
relationship marketing
integrated marketing
internal marketing
network marketing
performance marketing
QUESTION 10
1. Which of the following is true of business markets?
Buyers are usually not skilled at comparing competitive product offerings.
Buyers have limited purchasing power.
Property rights, language, culture, and local laws are the most important concerns.
Products sold in such markets are usually highly standardized.
Business buyers buy goods to make or resell a product to others at a profit.
QUESTION 11
1. The value of an offering is described as ________.
the price consumers are charged for a product
the cost of manufacturing a product
the degree to which consumer demand for a product is positive
the sum of the tangible and intangible benefits and costs to customers
the intangible benefits gained from a product
QUESTION 12
1. Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
shopping goods
unsought goods
necessary goods
luxury goods
complementary goods
QUESTION 13
1. Companies are recognizing that much of their market value comes from ________, particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.
variable assets
value propositions
intangible assets
market offerings
industry convergence
QUESTION 14
1. ________ reflects a customer's judgment of a product's performance in relation to his or her expectations.
Brand equity
Satisfaction
Value
Perception
Brand image
QUESTION 15
1. As economies advance, a growing proportion of their activities focuses on the production of ________.
products
events
experiences
luxury goods
services
QUESTION 16
1. ________ is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
Niche marketing
Holistic marketing
Relationship marketing
Supply chain marketing
Demand-centered marketing
QUESTION 17
1. Holistic marketing incorporates ________, an understanding of broader concerns in the ethical, environmental, legal, and social context of marketing activities.
internal marketing
cultural marketing
social responsibility marketing
relationship marketing
integrated marketing
QUESTION 18
1. Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.
the product concept
the production concept
the selling concept
the marketing concept
the holistic marketing concept
QUESTION 19
1. Rick Johnson trains his company's sales force to go after the consumer. He repeatedly asks his team to bear in mind the essential fact that it is the sales team's responsibility to rouse the consumer's interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Johnson believes in the ________ concept.
product
production
selling
marketing
social responsibility
QUESTION 20
1. A(n) ________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.
secondary
unstated
delight
secret
stated