253 free test bank for essentials of marketing 14th p2

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253 Free Test Bank for Essentials of Marketing 14th P2 Edition by Perreault Multiple Choice Questions - Page 1

The following activities are rightly considered marketing except:

1. A advertising the grand opening of a new furniture store

2. B researching which furniture designs are popular with consumers

3. C determining how many pieces of furniture can be sold at different price points

4. D building a facility to make furniture

5. E selling furniture to customers in a furniture showroom

According to the text, marketing means:

1. A much more than just selling and advertising

2. B advertising

3. C producing a product that fills a need

4. D selling

5. E making a good product that sells itself

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

1. A obtaining financing for the venture

2. B designing products that interest him or her

3. C identifying a product or service that customers need

4. D choosing a business partner

5. E establishing a legal corporation

According to the text, marketing means:

1. A Distribution

2. B Making good products

3. C More than selling and advertising

4. D Promotion

5. E Performing services

Effective marketing should begin with

1. A an effort to persuade unwilling customers to buy the firm's products

2. B potential customer needs

3. C a decision about what the firm can produce efficiently

4. D evaluation of the effect of the firm's decisions on the MACRO-marketing system

5. E the marketing manager making important production, accounting, and financial decisions for the firm

Looking at marketing as a set of managerial activities focuses on

1. A emphasizes mass selling over personal selling.

2. B allows production, rather than marketing, to determine what products to make

3. C applies to both profit and nonprofit organizations

4. D concentrates on production, rather than advertising

5. E none of these is a true statement about marketing

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

1. A The job of marketing is to get rid of whatever the company is producing

2. B Marketing should take over production, accounting, and financial services within a firm

3. C Marketing is concerned with generating a single exchange between a firm and a customer

4. D Marketing begins with anticipating potential customer needs

5. E Production, not marketing, should determine what goods and services are

to be developed

Which of the following statements by a U.S president best reflects

a MICRO view of marketing?

1. A "A tax cut will give consumers more spending money."

2. B "With interest rates low, many young people can now afford to buy a new home."

3. C "In the United States we have a better choice of products than in any other country."

4. D "My administration will spend 75 percent more on purchases related to domestic security during the next year."

5. E "Tourism firms should advertise more to attract more international visitors."

Marketing encourages research and , the

development and spread of new ideas, goods and services

1. A The United Way

2. B United States Postal Service

3. C Outback Steakhouse

4. D JFK International Airport

5. E Sam's Club members

Marketing _

1. A applies to both profit and nonprofit organizations

2. B is another name for selling and advertising

3. C should pick up where the production process ends

4. D people should expect that the production department will determine what goods and services are to be developed

According to the text, marketing means:

1. A much more than selling and advertising

2. B selling

3. C producing and selling

4. D advertising

5. E selling and advertising

Marketing can be viewed as:

1. A a set of activities performed by individual organizations

2. B relevant to for-profit organizations only

3. C just selling and advertising

4. D beginning with the production process

The aim of marketing is to

1. A help create a pure subsistence economy

2. B eliminate the need for exchanges

3. C persuade customers to buy the firm's product

4. D identify customers' needs and meet those needs so well that the product almost "sells itself."

5. E facilitate a single transaction

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

1. A Marketing affects almost every aspect of daily life

2. B Marketing will be important to your job

3. C Marketing involves actually making the goods that people need.

4. D Marketing affects innovation and consumers' standard of living

5. E Marketing plays a big part in economic growth and development

All of the following should be determined by the marketing

department of a firm EXCEPT:

1. A storing the product

2. B making the product

3. C advertising the product

4. D designing the packaging for the product

5. E setting the price of the product

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

1. A Customer forecast

2. B Customer satisfaction

3. C Customer service

4. D Customer support

The text stresses that:

1. A advertising and selling are not really part of marketing

2. B marketing is nothing more than a set of business activities performed by individual firms

3. C marketing techniques have no application for nonprofit organizations

4. D marketing is a social process and a set of activities performed by

organizations

5. E a good product usually sells itself

From a micro view, marketing

1. A applies to large corporations but not to a new venture started by one person

2. B is an important social process

3. C emphasizes how the whole marketing system works

4. D is a set of activities performed by an individual organization to satisfy its customers

5. E directs an economy's flow of goods and services from producers to consumers

Marketing _

1. A affects almost every aspect of our daily lives

2. B offers few exciting or rewarding career opportunities

3. C limits our choices of goods and services every day

4. D focuses an organization on being the first to market a new product

Which of the following must occur for marketing to happen?

1. A applies to both profit and nonprofit organizations.

2. B says that marketing should take over all production, accounting, and financial activities

3. C should begin as soon as goods are produced

4. D does away with the need for advertising

Customer satisfaction is the extent to which a firm fulfills a

consumer's:

1. A needs

2. B desires

3. C expectations

4. D needs and desires

5. E all of these are correct

According to the text, marketing means:

1. A making a good product that sells itself

2. B much more than selling and advertising

3. C selling and advertising

4. D producing goods and/or services

5. E doing whatever it takes to be able to offer consumers a "better mousetrap."

Marketing:

1. A tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them

2. B begins with the production process

3. C involves persuading customers to buy your product

4. D is a social process involving all producers, intermediaries, and consumers

5. E tries to make the whole economic system fair and effective

Marketing could NOT take place without:

1. A intermediaries

2. B collaborators

3. C two or more parties who are willing to exchange something for something else

4. D a high standard of living

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

1. A Marketing is only necessary for profit-oriented firms.

2. B Marketing consists mainly of advertising and personal selling

3. C Marketing anticipates customer needs

4. D Marketing begins as soon as products are produced

5. E Firms that don't rely on e-commerce should put more emphasis on

marketing

Which of the following statements about marketing is FALSE?

1. A Marketing concepts and techniques apply for nonprofit organizations-as well as for profit-seeking organizations

2. B Marketing offers many rewarding career opportunities

3. C The cost of marketing is about 15 percent of the consumer's dollar

4. D Marketing affects almost every part of your daily life

5. E Marketing is vital for economic growth and development

_ 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

1. A is concerned with whether the whole economic system is fair and effective

2. B applies only to profit organizations

3. C consists only of personal selling and advertising

4. D is a social process only

5. E tries to anticipate and satisfy customer needs and accomplish an

organization's objectives

Marketing should

1. A begin with the production process

2. B make decisions about product design and packaging, prices or fees

3. C not need to coordinate with production, accounting, and financial activities

4. D provide input, but let production determine what goods and services are to

be developed

5. E focus on getting customers to make a final purchase

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

1. A means "selling" or "advertising."

2. B provides direction for production

3. C involves actually making goods or performing services

4. D does not impact consumers' standard of living

5. E is the development and spread of new ideas, goods, and services

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

1. A North Korea unveils a new five-year production plan

2. B China and the U.S agree on a new trade agreement

3. C The American Red Cross seeks more blood donors

4. D The Internet makes it possible for firms to reach customers in other

countries

5. E None of these is a good example

Marketing will not happen unless:

1. A e-commerce is flourishing

2. B collaborators are present to simplify exchange

3. C intermediaries are present to facilitate exchange

4. D two or more parties each have something they want to exchange for something else

5. E an economy is market-directed rather than command

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:

1. A one of the universal functions of innovation

2. B a production activity

3. C an example of the micro-macro dilemma

4. D best left to intermediaries

5. E a part of marketing

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

1. A Determining how to get the new model to likely bike purchasers

2. B Actually making the new mountain bikes

3. C Estimating how many competing companies will be making bikes

4. D Predicting what types of bikes different types of bike riders will want

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

253 Free Test Bank for Essentials of Marketing 14th

Edition by Perreault Multiple Choice Questions - Page 2

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:

2. B exchange is simplified by discrepancies of quantity and assortment

3. C there is little need for marketing specialists

4. D both supply and demand tend to be homogeneous in nature

5. E producers and consumers experience a separation of values

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:

1. A separation in values

2. B discrepancies of assortment

3. C separation of information

4. D spatial separation.

5. E separation in time

The "universal functions of marketing" do NOT include:

1. A financing and risk taking

2. B standardization and grading

3. C producing

4. D transporting and storing

5. E buying and selling

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:

1. A spatial separation

2. B discrepancies of assortment

3. C separation of values

4. D all of these are correct

The following headlines are for articles from the WALL STREET JOURNAL Which article is most likely to be reporting a macro-

marketing topic?

1. A "Mercedes Goes after Luxury Sport Utility Buyers."

2. B "Adidas Jumps as Footwear Competition Heats Up."

3. C "Drugstore Chain Aims at Seniors."

4. D "Hardee's Fried Chicken Takes on KFC."

5. E "DVD Popularity Leads to More DVD Retailers."

In a pure subsistence economy,

1. A each family unit is self-sufficient

2. B exchanges are very important

3. C the standard of living must be relatively high

4. D there is a great need for intermediaries

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

1. A shows why "discrepancies of assortment" occur

2. B is so simple that the universal functions of marketing don't have to be done

3. C cannot work without an intermediary

4. D is an example of "separation in values" since the different families choose

to produce different things

Macro-marketing:

1. A is a social process.

2. B tries to encourage "discrepancies of quantity" and "discrepancies of

assortment."

3. C tries to disrupt supply and demand

4. D tries to foster the many separations between producers and consumers

Macro-marketing

1. A emphasizes building a long-term relationship that benefits both the firm and the customer

2. B considers the marketing activities of corporations rather than individuals

3. C emphasizes how the whole marketing system works

4. D systems are only relevant to advanced economies

5. E addresses discrepancies that emerge from homogeneous consumer

demand

_ 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

2. B tries to match heterogeneous supply capabilities with heterogeneous

demands for goods and services

3. C is concerned with how effectively and fairly an individual business

organization performs

4. D assumes that the effectiveness and fairness of all macro-marketing

systems must be evaluated in terms of the same social objectives

_ 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

1. A "Two-Person Engineering Firm Offers Unique Service."

2. B "Russia Increases Output of Consumer Goods."

3. C "Pepsi Sells in Japan."

4. D "Bank of America Offers New Internet Banking Services."

5. E "Donations to Tsunami Victims Fund Increase after TV Broadcast."

Macro-marketing:

1. A tries to produce discrepancies of quantity and discrepancies of assortment

2. B focuses on the activities of individual organizations

3. C tries to effectively match supply and demand

4. D is a set of activities performed by individual firms

Since individual firms cannot perform all marketing functions, _ often play a role in the exchange process

2. B Consumers require a wide assortment of food items, but individual

producers can offer only a narrow assortment of food products

3. C Producers set prices to cover costs and make a profit, but consumers choose goods based on their ability to pay

4. 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

5. E Producers tend to locate where it is economical to produce, but consumers are located in many scattered places

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:

2. B concerns the activities of individual managers.

3. C is what people have in mind when they talk about marketing in everyday use

4. D helps consumers that need a narrow assortment of products

5. E applies only to nonprofit organizations

"Economies of scale" means that:

1. A as a company produces larger numbers of a particular product, the cost of each unit of the product goes down

2. B the more producers there are in an economy the greater the need for intermediaries

3. C larger countries enjoy more economic growth than smaller countries

4. D as a company produces larger numbers of a particular product, the total cost of producing these products goes down

Macro-marketing:

1. A Emphasizes how the whole marketing system works

2. B Considers how marketing affects society, but not how society affects marketing

3. C Matches homogeneous supply and demand

4. D Is mainly concerned with the activities of individual organizations

Exchanges between producers and consumers are more difficult in

an advanced economy because of:

1. A separation in time

2. B separation in values

3. C spatial separation

4. D separation of information

5. E All of these are correct

The primary purpose of the transporting and storing functions of marketing is to overcome:

1. A the need for marketing specialists

2. B separation of information

3. C spatial separation

4. D discrepancies of assortment

5. E separation of values