Free Test Bank for Basic Marketing A Marketing Strategy Planning Approach 18th Edition by Perreault – Part 1

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Collaborators

A. specialize in trade rather than production.
B. usually have a production orientation.
C. emerged in the marketing company era.
D. are only used in a command economy.
E. facilitate or provide one or more of the marketing functions other than buying or selling.

Concerning the "universal functions of marketing," which of the following statements is FALSE?

A. These functions can be performed by producers, intermediaries, collaborators, or consumers.
B. Responsibility for performing these functions can be shared and shifted.
C. From a micro viewpoint, not every company must perform every function.
D. From a macro viewpoint, all these functions must be performed by someone.
E. None of the above is false.

Marketing intermediaries and collaborators can often perform marketing functions:

A. better than producers or consumers can perform them.
B. which leaves producers and consumers more time for production and consumption.
C. at a low cost--because of specialization, economies of scale, or e-commerce.
D. all of the above are true.
E. none of the above are true.

The standardization and grading function of marketing involves:

A. promoting goods and services.
B. collection, analysis, and distribution of marketing information.
C. sorting products according to size and quality.
D. looking for and evaluating goods and services.
E. movement of goods from one place to another.

"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.
E. All of the above are true.

The "universal functions of marketing" can be performed by:

A. producers.
B. intermediaries and collaborators.
C. consumers.
D. All of the above.
E. Only A and C above.

The buying function of marketing involves

A. risk-taking.
B. promoting the product.
C. looking for and evaluating goods and services.
D. the use of personal selling.
E. sorting products according to size and quality.

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.

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.

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.

The "universal functions of marketing" do NOT include:

A. financing and risk taking.
B. standardization and grading.
C. producing.
D. transporting and storing.
E. buying and selling.

The universal functions of marketing

A. are not all needed in market-directed economies.
B. are not all needed in command economies.
C. can be performed by producers, consumers, and a variety of marketing specialists.
D. All of the above are true.
E. None of the above is true.

In macro-marketing

A. no universal marketing function can be completely eliminated.
B. the objectives of the individual firm, rather than society, are most important.
C. functions should not be shifted or shared.
D. intermediaries are unnecessary.
E. the emphasis is on the activities of individual organizations.

Amazon.com and eBay.com are both considered

A. Internet-based collaborators.
B. Internet-based producers.
C. Internet-based service providers.
D. Internet-based intermediaries.
E. Internet-based manufacturers.

Which of the following is NOT true about intermediaries?

A. They save time for other participants in a transaction.
B. They always increase total expenses for a product.
C. They specialize in trade rather than production.
D. All of the above.
E. None of the above.

The "universal functions of marketing":

A. must be performed in all MACRO-marketing systems.
B. are performed differently in different economies.
C. are performed by different parties in different economies.
D. are needed to help overcome various separations and discrepancies.
E. All of the above are true.

The "universal functions of marketing":

A. can be eliminated in advanced MACRO-marketing systems.
B. are performed differently and by different parties in different economies.
C. are never performed by consumers.
D. create various separations and discrepancies between producers and consumers.
E. All of the above are true.

A large advertising agency is planning a national promotion to introduce a new type of MP3 player. Which of the universal functions of marketing is it performing?

A. Risk-taking.
B. Financing.
C. Buying.
D. Selling.
E. None of the above.

Which of the following types of firms are collaborators?

A. Marketing research firms
B. Overnight delivery firms
C. Advertising agencies
D. Product-testing labs
E. All of the above

The standardization and grading function of marketing involves:

A. Looking for and evaluating goods and services.
B. Providing necessary cash and credit.
C. Promoting the product.
D. Sorting products according to size and quality.
E. None of the above.

Which of the following is LEAST likely to be classified as a marketing collaborator?

A. United Parcel Service (UPS).
B. Public Warehouse Corporation.
C. Broadband Communications Company.
D. MeadowView Aluminum Company.
E. Product Safety Testing Laboratories, Inc.

The advantages of working with an intermediary usually increase when there is

A. difficulty communicating with customers.
B. a greater number of customers.
C. greater distance between customers.
D. a larger number of competing products.
E. all of the above.

The "universal functions of marketing":

A. are usually performed in the same way and by the same types of institutions in all MACRO-marketing systems.
B. can sometimes be eliminated--in very efficient macro-marketing systems.
C. must be performed in both market-directed and command economies.
D. must all be performed by every firm from a MICRO view.
E. All of the above are true.

Which of the following is LEAST likely to be classified as a marketing collaborator?

A. Mayflower Transport Company.
B. Internet Advertising, Inc.
C. Wachovia Bank.
D. Market Survey Research, Inc.
E. Quality Coatings Company.

Which of the universal functions of marketing deals most directly with advertising a product in magazines?

A. Transporting
B. Selling
C. Financing
D. Risk-taking
E. Market information

Firms that specialize in providing marketing functions other than buying or selling are known as:

A. suppliers.
B. intermediaries.
C. consultants.
D. agents.
E. collaborators.

Which of the following is MOST likely to be classified as a marketing intermediary?

A. Apex Manufacturing, Inc.
B. Lillian's Mini-Market.
C. McGraw Hill/Irwin.
D. Kellogg.

Market research firm BestOne sells reports about competitors, products, and other areas to various clients in the software industry. BestOne performs which universal marketing function:

A. risk taking.
B. market information.
C. standardization and grading.
D. social responsibility.
E. financing.

_______ 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

______________ involve(s) sorting products according to size and quality.

A. Transporting and storing
B. Financing
C. Standardization and grading
D. Marketing
E. Buying

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

A. Production
B. Standardization
C. Financing
D. Buying
E. Transporting

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

Which of the following statements about the "universal functions of marketing" is False?

A. These functions do not have to be performed in all macro-marketing systems.
B. How the functions are performed may differ among nations and economic systems.
C. Who performs the functions may differ among nations and economic systems.
D. These functions help to overcome discrepancies of quantity and assortment.
E. None of the above.

An intermediary:

A. is a wholesaler--not a retailer.
B. usually increases the number of transactions required.
C. tends to make the exchange process more difficult and costly.
D. is someone who specializes in trade rather than production.
E. none of the above.

Considering the universal functions of marketing,

A. they may not be required in all macro-marketing systems.
B. not every firm must perform all of the marketing functions.
C. all goods and services require all the functions at every level of their production.
D. all of the above are true.
E. none of the above is true.

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 the above.

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 the marketing functions.
D. Marketing functions should be performed only by marketing intermediaries or collaborators.
E. Many marketing functions are not necessary in market-directed economies.

After seeing a "sale" ad in a local newspaper, Ben Griffith went to a local pet supply store and bought a year's supply of high protein dog food. Which marketing functions--if any--did he perform?

A. Financing and risk taking
B. Buying, transporting, and storing
C. Market information
D. All of the above
E. None of the above--only producers and intermediaries perform marketing functions.

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Free Test Bank for Basic Marketing A Marketing Strategy Planning Approach 18th Edition by Perreault – Part 1

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