250 Free Test Bank for Basic Marketing A Strategic Marketing Planning Approach 19th Edition by Perreault

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Looking at marketing as a set of activities focuses on

•  A. macro-marketing.
•  B. for-profit marketing.
•  C. micro-marketing.
•  D. nonprofit marketing.
•  E. personalized marketing.

____________________ is the extent to which a firm fulfills a customer's needs, desires, and expectations.

•  A. Customer forecast
•  B. Customer satisfaction
•  C. Customer service
•  D. Customer support

_______ is defined as the performance of activities that seek to accomplish an organization's objectives by anticipating customer needs and directing a flow of need-satisfying goods and services from producer to customer.

•  A. Innovation
•  B. Advertising
•  C. Selling
•  D. Marketing (from a micro view)
•  E. Sales promotion

The following activities are rightly considered marketing except:

•  A. advertising the grand opening of a new furniture store.
•  B. researching which furniture designs are popular with consumers.
•  C. determining how many pieces of furniture can be sold at different price points.
•  D.building a facility to make furniture.
•  E. selling furniture to customers in a furniture showroom.

Which of the following is NOT a reason for you to study marketing?

•  A. Marketing affects almost every aspect of daily life.
•  B. Marketing will be important to your job.
•  C. Marketing involves actually making the goods that people need.
•  D. Marketing affects innovation and consumers' standard of living.
•  E. Marketing plays a big part in economic growth and development.

According to the text, marketing means:

•  A.much more than selling and advertising.
•  B. selling.
•  C. producing and selling.
•  D. advertising.
•  E. selling and advertising.

According to the text, marketing means:

•  A. much more than just selling and advertising.
•  B. advertising.
•  C. producing a product that fills a need.
•  D. selling.
•  E. making a good product that sells itself.

All of the following should be determined by the marketing department of a firm EXCEPT:

•  A. storing the product.
•  B. actually making the product.
•  C. advertising the product.
•  D. designing the packaging for the product.
•  E. setting the price of the product.

In an advanced economy, marketing costs account for about ___ cents of every consumer dollar.

•  A. 10
•  B. 20
•  C. 30
•  D. 40
•  E. 50

A marketing manager planning to launch a successful new product should begin by:

•  A. obtaining financing for the venture.
•  B. designing products that interest him or her.
•  C.identifying a product or service that customers need.
•  D. choosing a business partner.
•  E. establishing a legal corporation.

The production of a new mountain bike model includes which of the following activities?

•  A. Determining how to get the new model to likely bike purchasers.
•  B. Actually making the new mountain bikes.
•  C. Estimating how many competing companies will be making bikes.
•  D. Predicting what types of bikes different types of bike riders will want.

Which of the following statements best describes the modern view of marketing?

•  A. Marketing is only necessary for profit-oriented firms.
•  B. Marketing consists mainly of advertising and personal selling.
•  C. Marketing anticipates customer needs.
•  D. Marketing begins as soon as products are produced.
•  E. Firms that don't rely on e-commerce should put more emphasis on marketing.

Macro-marketing examines all the following challenging scenarios except:

•  A. Producers prefer to manufacture goods in large quantities, but consumers buy in small quantities.
•  B. Consumers require a wide assortment of food items, but individual producers can offer only a narrow assortment of food products.
•  C. Producers set prices to cover costs and make a profit, but consumers choose goods based on their ability to pay.
•  D. Cedar Point Amusement Park would like to attract customers all year long, but its marketing strategy is currently limited to discount season pass offers during winter months while the park is closed.
•  E. Producers tend to locate where it is economical to produce, but consumers are located in many scattered places.

From a micro view, which of the following is the best example of marketing?

•  A. North Korea unveils a new five-year production plan.
•  B. China and the U.S. agree on a new trade agreement.
•  C. The American Red Cross seeks more blood donors.
•  D. The Internet makes it possible for firms to reach customers in other countries.
•  E. None of these is a good example.

Marketing

•  A. applies to both profit and nonprofit organizations.
•  B. is another name for selling and advertising.
•  C. should pick up where the production process ends.
•  D. people should expect that the production department will determine what goods and services are to be developed.

According to the text, marketing means:

•  A. Distribution.
•  B. Making good products.
•  C. More than selling and advertising.
•  D. Promotion.
•  E. Performing services.

From a micro view, marketing

•  A. applies to large corporations but not to a new venture started by one person.
•  B. is an important social process.
•  C. emphasizes how the whole marketing system works.
•  D. is a set of activities performed by an individual organization to satisfy its customers.
•  E. directs an economy's flow of goods and services from producers to consumers.

Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

•  A. production.
•  B. a command economy.
•  C. marketing.
•  D. making goods or performing services.
•  E. a production orientation.

Customer satisfaction is the extent to which a firm fulfills a consumer's:

•  A. needs.
•  B. desires.
•  C. expectations.
•  D. needs and desires.
•  E. All of these are correct.

Which of the following statements about marketing is FALSE?

•  A. Marketing concepts and techniques apply for nonprofit organizations—as well as for profit-seeking organizations.
•  B. Marketing offers many rewarding career opportunities.
•  C. The cost of marketing is about 15 percent of the consumer's dollar.
•  D. Marketing affects almost every part of your daily life.
•  E. Marketing is vital for economic growth and development.

According to the text, marketing means:

•  A. making a good product that sells itself.
•  B. much more than selling and advertising.
•  C. selling and advertising.
•  D. producing goods and/or services.
•  E. doing whatever it takes to be able to offer consumers a "better mousetrap."

Marketing can be viewed as:

•  A. a set of activities performed by individual organizations.
•  B. relevant to for-profit organizations only.
•  C. just selling and advertising.
•  D. beginning with the production process.

Marketing

•  A. means "selling" or "advertising."
•  B. provides direction for production.
•  C. involves actually making goods or performing services.
•  D. does not impact consumers' standard of living.
•  E. is the development and spread new ideas, goods, and services.

For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

•  A. one of the universal functions of innovation.
•  B. a production activity.
•  C. an example of the micro-macro dilemma.
•  D. best left to intermediaries.
•  E. a part of marketing.

Which of the following would not engage in the process of marketing?

•  A. The United Way
•  B. United States Postal Service
•  C. Outback Steakhouse
•  D. JFK International Airport
•  E. Sam's Club members

Effective marketing should begin with

•  A. an effort to persuade unwilling customers to buy the firm's products.
•  B. potential customer needs.
•  C. a decision about what the firm can produce efficiently.
•  D. evaluation of the effect of the firm's decisions on the MACRO-marketing system.
•  E. the marketing manager making important production, accounting, and financial decisions for the firm.

Micro-marketing:

•  A. is concerned with whether the whole economic system is fair and effective.
•  B. applies only to profit organizations.
•  C. consists only of personal selling and advertising.
•  D. is a social process only.
•  E. tries to anticipate and satisfy customer needs and accomplish an organization's objectives.

The aim of marketing is to

•  A. help create a pure subsistence economy.
•  B. eliminate the need for exchanges.
•  C. persuade customers to buy the firm's product.
•  D. identify customers' needs and meet those needs so well that the product almost "sells itself."
•  E. facilitate a single transaction.

Micro-marketing:

•  A. tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them.
•  B. begins with the production process.
•  C. involves persuading customers to buy your product.
•  D. is a social process involving all producers, intermediaries, and consumers.
•  E. tries to make the whole economic system fair and effective.

Marketing:

•  A. applies to both profit and nonprofit organizations.
•  B. says that marketing should take over all production, accounting, and financial activities.
•  C. should begin as soon as goods are produced.
•  D. does away with the need for advertising.

The text 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 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.

The development and spread of new ideas, goods, and services for the marketplace is called:

•  A. marketing.
•  B. the micro-macro dilemma.
•  C. collaboration.
•  D. innovation.
•  E. production.

Marketing encourages research and ______________, the development and spread of new ideas, goods and services.

•  A. analysis
•  B. assessment
•  C. evaluation
•  D. innovation
•  E. introspection

Which of the following statements best describes the modern view of marketing?

•  A. The job of marketing is to get rid of whatever the company is producing.
•  B. Marketing should take over production, accounting, and financial services within a firm.
•  C. Marketing is concerned with generating a single exchange between a firm and a customer.
•  D. Marketing begins with anticipating potential customer needs.
•  E. Production, not marketing, should determine what goods and services are to be developed.

Marketing

•  A. affects almost every aspect of our daily lives.
•  B. offers few exciting or rewarding career opportunities.
•  C. limits our choices of goods and services every day.
•  D. focuses an organization on being the first to market a new product.

Marketing:

•  A. emphasizes mass selling over personal selling.
•  B. allows production, rather than marketing, to determine what products to make.
•  C. applies to both profit and nonprofit organizations.
•  D. concentrates on production, rather than advertising.
•  E. None of these is a true statement about marketing.

Which of the following statements by a U.S. president best reflects a MICRO view of marketing?

•  A. "A tax cut will give consumers more spending money."
•  B. "With interest rates low, many young people can now afford to buy a new home."
•  C. "In the United States we have a better choice of products than in any other country."
•  D. "My administration will spend 75 percent more on purchases related to domestic security during the next year."
•  E. "Tourism firms should advertise more to attract more international visitors."

Which of the following organizations would be least likely to need marketing skills?

•  A. An accountant
•  B. An electronics retailer
•  C. A toy manufacturer
•  D. A financial advisor
•  E. All of these organizations would be likely to need marketing skills.

Marketing should

•  A. begin with the production process.
•  B. make decisions about product design and packaging, prices or fees.
•  C. not need to coordinate with production, accounting, and financial activities.
•  D. provide input, but let production determine what goods and services are to be developed.
•  E. focus on getting customers to make a final purchase.
• "Economies of scale" means that:

  •  A. as a company produces larger numbers of a particular product, the cost of each unit of the product goes down.
  •  B. the more producers there are in an economy the greater the need for intermediaries.
  •  C. larger countries enjoy more economic growth than smaller countries.
  •  D. as a company produces larger numbers of a particular product, the total cost of producing these products goes down.
  In a pure subsistence economy,

  •  A. each family unit is self-sufficient.
  •  B. exchanges are very important.
  •  C. the standard of living must be relatively high.
  •  D. there is a great need for intermediaries.
  Marketing is NOT needed in a ______________ economy.

  •  A. consumer-oriented
  •  B. command
  •  C. pure subsistence
  •  D. market-directed
  •  E. None of these is correct.
  Macro-marketing

  •  A. emphasizes building a long-term relationship that benefits both the firm and the customer.
  •  B. considers the marketing activities of corporations rather than individuals.
  •  C. emphasizes how the whole marketing system works.
  •  D. systems are only relevant to advanced economies.
  •  E. addresses discrepancies that emerge from homogeneous consumer demand.
  Which of the following must occur for marketing to happen?

  •  A. Product
  •  B. Place
  •  C. Advertising
  •  D. Price
  •  E. Two or more parties exchange something of value for something else of value.
  Macro-marketing:

  •  A. is a social process.
  •  B. tries to encourage "discrepancies of quantity" and "discrepancies of assortment."
  •  C. tries to disrupt supply and demand.
  •  D. tries to foster the many separations between producers and consumers.
  _________ directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the society's objectives.

  •  A. Macro-marketing
  •  B. The transporting function
  •  C. Micro-marketing
  •  D. Standardization and grading
  •  E. Social responsibility
  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.
  When a firm produces a large quantity of a product, the cost of producing each individual unit usually goes down. This is known as:

  •  A. discrepancies of quantity.
  •  B. exchange efficiency.
  •  C. economies of scale.
  •  D. macro-marketing.
  •  E. discrepancies of assortment.
  Marketing will not happen unless:

  •  A. e-commerce is flourishing.
  •  B. collaborators are present to simplify exchange.
  •  C. intermediaries are present to facilitate exchange.
  •  D. two or more parties each have something they want to exchange for something else.
  •  E. an economy is market-directed rather than command.
  The fact that US car companies are located in the upper Midwest while their customers are located throughout the U.S. is an example of:

  •  A. separation in values.
  •  B. discrepancies of assortment.
  •  C. separation of information.
  •  D. spatial separation.
  •  E. separation in time.
  Macro-marketing:

  •  A. tries to produce discrepancies of quantity and discrepancies of assortment.
  •  B. focuses on the activities of individual organizations.
  •  C. tries to effectively match supply and demand.
  •  D. is a set of activities performed by individual firms.
  In a simple economy, one family may produce only cooking pots, but many of them. Others may specialize in farming, making clothing, and building shelters. This

  •  A. shows why "discrepancies of assortment" occur.
  •  B. is so simple that the universal functions of marketing don't have to be done.
  •  C. cannot work without an intermediary.
  •  D. is an example of "separation in values" since the different families choose to produce different things.
  Since individual firms cannot perform all marketing functions, _____ often play a role in the exchange process.

  •  A. intermediaries
  •  B. consumers
  •  C. nonprofits
  •  D. marketing managers
  •  E. government regulators
  Which of the following statements is FALSE?

  •  A. Marketing is most important in a pure subsistence economy.
  •  B. Marketing should provide direction for production, accounting, and financial activities.
  •  C. Marketing builds long-lasting relationships that benefit the selling firm.
  •  D. Marketing doesn't occur unless two or more parties are willing to exchange something for something else.
  •  E. Marketing anticipates customer needs.
  When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer, this is an example of:

  •  A. separation in time.
  •  B. discrepancy of quantity.
  •  C. separation in values.
  •  D. discrepancy of assortment.
  •  E. spatial separation.
  Of the following headlines from a business magazine, which is most likely to be about a macro-marketing topic?

  •  A. "Chinese Women Demand More Luxury Goods."
  •  B. "Girl Scouts Organize Nationwide Cookie Sale."
  •  C. "L'eggs Sells Direct in Brazil and Argentina."
  •  D. "Frito-Lay Offers New Low-Fat Products."
  •  E. "Coke Losing Beverage Sales in India to local brands."
  The following headlines are for articles from the WALL STREET JOURNAL. Which article is most likely to be reporting a macro-marketing topic?

  •  A. "Mercedes Goes after Luxury Sport Utility Buyers."
  •  B. "Adidas Jumps as Footwear Competition Heats Up."
  •  C. "Drugstore Chain Aims at Seniors."
  •  D. "Hardee's Fried Chicken Takes on KFC."
  •  E. "DVD Popularity Leads to More DVD Retailers."
  The following headlines are from Business Week magazine. Which article is most likely to be reporting on a macro-marketing topic?

  •  A. "Two-Person Engineering Firm Offers Unique Service."
  •  B. "Russia Increases Output of Consumer Goods."
  •  C. "Pepsi Sells in Japan."
  •  D. "Bank of America Offers New Internet Banking Services."
  •  E. "Donations to Tsunami Victims Fund Increase after TV Broadcast."
  The fact that producers usually prefer to produce products in large quantities, while most consumers prefer to buy in small quantities, results in:

  •  A. discrepancies of quantity.
  •  B. separation of ownership.
  •  C. discrepancies of assortment.
  •  D. spatial separation.
  •  E. temporal separation.
  Viewing marketing as a social process focuses on

  •  A. marketing by nonprofit organizations.
  •  B. command economies.
  •  C. macro-marketing.
  •  D. micro-marketing.
  •  E. None of these is correct.
  Societies need a macro-marketing system

  •  A. to help match supply and demand.
  •  B. to create a gap between producers and consumers.
  •  C. to accomplish an organization's objectives only.
  •  D. to identify collaborators.
  •  E. to reduce the need for intermediaries.
  Macro-marketing

  •  A. is a social process.
  •  B. concerns the activities of individual managers.
  •  C. is what people have in mind when they talk about marketing in everyday use.
  •  D. helps consumers that need a narrow assortment of products.
  •  E. applies only to nonprofit organizations.
  Looking at marketing as a social process focuses on

  •  A. macro-marketing.
  •  B. for-profit marketing.
  •  C. micro-marketing.
  •  D. nonprofit marketing.
  •  E. personalized marketing.
  From the macro-marketing perspective, the spatial separation that exists between military equipment manufacturers and the people who use the equipment overseas is directly addressed through this marketing function:

  •  A. financing
  •  B. transporting
  •  C. risk taking
  •  D. market information
  •  E. storing
  The universal functions of marketing include buying, selling, transporting, storing, _________________________________________.

  •  A. standardization and weighing, financing, risk taking, and marketing information
  •  B. standardization and grading, facilitating, risk taking, and marketing information
  •  C. standardization and grading, financing, risk taking, and marketing information
  •  D. standardization and grading, financing, risk taking, and merchandising information
  In advanced economies:

  •  A. both supply and demand tend to be homogeneous.
  •  B. producers and consumers are often separated in several ways.
  •  C. most firms specialize in producing and selling small amounts of a huge assortment of goods and services.
  •  D. exchange is aided by discrepancies of quantity and assortment.
  Which of the following statements about marketing is FALSE?

  •  A. Marketing affects the products you buy.
  •  B. Marketing applies to nonprofit organizations too.
  •  C. Marketing affects the advertising you see and hear.
  •  D. Marketing offers many good job opportunities.
  •  E. Marketing can help with individual transactions but not in building relationships with customers.
  Of the following headlines from the WALL STREET JOURNAL, which is most likely to be about a MACRO-marketing topic?

  •  A. "Tupperware Has a New Strategy."
  •  B. "Thailand Has Unusually Large Number of Wholesalers."
  •  C. "Military Supplier Shifts to Selling Gas Masks to Private Citizens."
  •  D. "Coke Plans Beverage Line to Compete with Lipton's."
  •  E. "Dow Chemical Adds Shipping Safeguards."
  Macro-marketing:

  •  A. Emphasizes how the whole marketing system works.
  •  B. Considers how marketing affects society, but not how society affects marketing.
  •  C. Matches homogeneous supply and demand.
  •  D. Is mainly concerned with the activities of individual organizations.
  The term "economies of scale" means that:

  •  A. The largest producers are always the most efficient.
  •  B. The cost of a product goes down as a company produces larger numbers of it.
  •  C. The more one produces, the greater the profit.
  •  D. It is more efficient for an economy to have a large number of transactions.
  •  E. None of these is correct.
  Macro-marketing:

  •  A. is concerned with the activities performed by individual business organizations.
  •  B. tries to match heterogeneous supply capabilities with heterogeneous demands for goods and services.
  •  C. is concerned with how effectively and fairly an individual business organization performs.
  •  D. assumes that the effectiveness and fairness of all macro-marketing systems must be evaluated in terms of the same social objectives.
  If the family units on a South Pacific-island nation made all the products they consume, it would be a good example of:

  •  A. a pure subsistence economy.
  •  B. a market-directed economy.
  •  C. a micro-marketing system.
  •  D. a command economy.
  •  E. None of these is a correct answer.
  Exchanges between producers and consumers are more difficult in an advanced economy because of:

  •  A. separation in time.
  •  B. separation in values.
  •  C. spatial separation.
  •  D. separation of information.
  •  E. All of these are correct.
  Marketing could NOT take place without:

  •  A. intermediaries.
  •  B. collaborators.
  •  C. two or more parties who are willing to exchange something for something else.
  •  D. a high standard of living.
  The primary purpose of the transporting and storing functions of marketing is to overcome:

  •  A. the need for marketing specialists.
  •  B. separation of information.
  •  C. spatial separation.
  •  D. discrepancies of assortment.
  •  E. separation of values.
  Discrepancies of assortment happen when

  •  A. producers prefer to produce and sell in large numbers, but consumers prefer to buy and consume in smaller numbers.
  •  B. consumers may not want to consume goods and services at the time producers would prefer to produce them.
  •  C. consumers value goods and services in terms of costs and competitive prices whereas producers value them in terms of satisfying needs and ability to pay.
  •  D. producers specialize in producing a narrow range of goods and services but consumers need a wide variety.
  •  E. producers hold title to goods and services that they themselves do not want to consume.
  _______ refers to producers holding title to goods and services that they themselves do not want to consume and consumers wanting goods and services that they do not have.

  •  A. Discrepancies of assortment
  •  B. Separation of ownership
  •  C. Discrepancies of quantity
  •  D. Spatial separation
  •  E. Separation in time
  When consumers do not know where to buy a product or what it costs and the product's producer does not know where its target market is located, this is an example of:

  •  A. separation of information.
  •  B. discrepancy of quantity.
  •  C. separation of ownership.
  •  D. discrepancy of assortment.
  •  E. separation in time.
  American supermarket chain, FoodMart, purchases cheese from five different manufacturers from around the world to assure its customers can choose among different types of cheeses at different prices. FoodMart facilitates the macro-marketing system by helping to address:

  •  A. spatial separation.
  •  B. discrepancies of assortment.
  •  C. separation of values.
  •  D. all of these are correct.