95 Free Test Bank for Marketing 15th Edition by Pride

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The marketing concept is___.

•  a management philosophy.
•  synonymous with exchange.
•  a component of the marketing mix.
•  a function of the marketing environment.
•  focused solely on satisfying customer objectives.

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

•  Profits for the seller
•  A good bargain on the product for the buyer
•  Reducing the seller's inventory
•  One party having to compromise in the exchange
•  Satisfaction for both the buyer and seller

The marketing concept is a management philosophy that affects___.

•  only marketing activities.
•  all efforts of the organization.
•  mainly the efforts of sales personnel.
•  mainly customer relations.
•  only business organizations.

The marketing concept focuses on___.

•  achieving the goals of top executives.
•  creating maximum visibility for the firm.
•  maximizing sales.
•  maximizing market share.
•  satisfying customers' needs in a way that helps to achieve organizational objectives.

The marketing environment is best described as being___.

•  composed of controllable variables.
•  composed of variables independent of one another.
•  an indirect influence on the performance of marketing activities.
•  dynamic and changing.
•  slow, with infrequent fluctuations.

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also___.

•  increase market share.
•  increase sales.
•  achieve the organization's goals.
•  produce high-quality products.
•  coordinate its activities to increase production.

As the Industrial Revolution came to the United States, most firms operated in a(n) ___________ orientation.

•  marketing
•  societal
•  sales
•  evolutionary
•  production

From the 1920s to the 1950s, demand for manufactured goods decreased, leading to the ______ orientation.

•  production
•  marketing
•  revolutionary
•  sales
•  reduction

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

•  Product adaptations
•  Pricing strategies
•  Government regulations
•  Advertising campaigns
•  Retail locations

Which of the following best characterizes the forces of the marketing environment?

•  The forces are relatively stable over time and are interrelated with one another.
•  There are few overlapping aspects of these forces; therefore, a change in one is unlikely to result in a change in another.
•  The various forces ensure that the marketing environment will remain fairly certain in the future.
•  These forces change dramatically over time, but a change in one force is unlikely to impact another force.
•  The forces change dramatically and quickly, and a change in one force is likely to affect the other forces.

The Jackson Hewitt company wants to adopt the marketing concept as a business philosophy. To be consistent with this decision, it should adopt which of the following philosophies?

•  The customer is always right.
•  Making money is our business.
•  Sell, sell, sell.
•  Keep prices low.
•  Focus on today.

The marketing concept is best defined as___.

•  a second definition of marketing.
•  a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that
•  allows the organization to achieve its goals.
•  the performance of business activities that direct the flow of goods and services from producer to customer or user.
•  a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
•  the inclusion of marketing activities in the activities of an organization.

StarKist Tuna announced a dolphin-safe policy and stopped buying tuna from fishing vessels that net dolphins. This decision indicates a response to concerns about.

•  target market selection.
•  the marketing environment.
•  the reduction of marketing costs.
•  marketing mix decisions.
•  efficiency in marketing activities.

The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they___.

•  affect a marketing manager's decisions and actions by influencing buyers' reactions to the firm's marketing mix.
•  dictate that changes be made to the existing marketing mix despite any negative reactions from customers.
•  make most new products obsolete very quickly so that research and development must continually develop new products.
•  cause most advertising to be ineffective at communicating product benefits due to rapidly changing environmental forces.
•  change a customer's decisions about the appropriate marketing mix for the company and its various products.

According to the marketing concept, an organization should try to___.

•  consider short-run objectives and cash flow needs before developing new products.
•  define its business as "making a product."
•  provide products that satisfy customers' needs and allow the organization to achieve its goals.
•  put most of its emphasis on marketing activities and be less concerned with finance, accounting, and personnel.
•  view selling activities as the major means of increasing profits.

The marketing concept affects___.

•  just the marketing department.
•  all organizational activities.
•  only marketing and finance.
•  only production and marketing.
•  few decisions in an organization.

For an exchange to occur, four conditions must exist: first, two or more individuals, groups, or organizations must participate, and each must possess "something of value" that the other desires; second, the exchange must provide a benefit or satisfaction to both parties; third, each must have confidence in the promise of the "something of value" held by the other; and fourth,

•  the parties must agree to participate in the trading of "something of value."
•  to build trust, parties to the exchange must meet expectations.
•  both parties must participate in the trading of the "something of value."
•  one party must be willing to compromise.
•  one party must have sufficient bank credit to finance the exchange.

The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

•  Activities that are performed primarily by producers and manufacturers
•  Development of products, distribution channels, promotional strategies, and pricing objectives to satisfy customer requirements
•  Transfer of products in return for monetary considerations
•  Provision or transfer of goods, services, or ideas in return for something of value
•  Transfer of products that takes place only between for-profit organizations

When Campbell's introduced a line of low-sodium soups in response to customer demand, it was following which one of the following philosophies?

•  Selling concept
•  Production concept
•  Customer concept
•  Marketing concept
•  Retailing concept

Boca Burger's website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ______ marketing tool.

•  promotional
•  distributional
•  pricing
•  targeting
•  production

Which of the following statements about marketing environment forces is not correct?

•  They influence customers by affecting their lifestyles, standards of living, and preferences and needs for products.
•  They may influence customers' reactions to a firm's marketing mix.
•  They fluctuate slowly and thereby create threats to a firm's marketing mix.
•  They can fluctuate quickly and dramatically.
•  They help determine whether and how a marketing manager can perform certain marketing activities.

Which one of the following statements by a company president best reflects the marketing concept?

•  We have organized our business to make certain that customers get what they want.
•  We believe that the marketing department must organize to sell what we produce.
•  We have organized an aggressive sales force in our company to promote our products.
•  We try to produce only high-quality, technically efficient products.
•  We try to encourage company growth.

When Burger King offers 99-cent Whoppers to increase store traffic, it is altering which aspect of the marketing mix?

•  Price
•  Promotion
•  Distribution
•  Product
•  Target market

Marketers often speak of the "controllable" variables in the practice of marketing. Which of the following is not considered one of the controlled variables?

•  Product
•  Price
•  Distribution
•  Competition
•  Promotion

The forces of the marketing environment include____.

•  political, legal and regulatory, sociocultural, technological, economic, and competitive.
•  sociocultural, legal, regulatory, economic, and competitive.
•  legal, regulatory, political, and sociocultural.
•  competitive and noncompetitive forces that affect most lifestyles.
•  fairly static components.

eDuring the Industrial Revolution demand for manufactured goods was___.

•  weak.
•  nonexistent.
•  declining.
•  strong.
•  mediocre.

A change in the minimum drinking age in any given state illustrates a change in the ___________ for Miller Brewing.

•  marketing mix
•  marketing environment
•  marketing concept
•  marketing task
•  product concept

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ___________ that influence(s) the firm's strategy.

•  operating situation
•  marketing environment
•  surroundings
•  economic conditions
•  trends