229 test bank for essentials of marketing a marketing strategy planning approach 13th edition

Production, not marketing, should determine what goods and services are to be developed.. people should expect that the production department will determine what goods and services are t

229 Test Bank for Essentials of Marketing A Marketing Strategy Planning Approach 13th Edition

by Perreault

Mutiple Choice Questions - Page 1

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

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

4 D needs and desires

5 E all of these are correct

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

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

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

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

All of the following should be determined by the marketing

department of a firm EXCEPT:

1 A storing the product

2 B actually making the product

3 C advertising the product

4 D designing the packaging for the product

5 E setting the price of the product

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

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

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

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

Which of the following statements best describes the modern view

of marketing?

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

According to the text, marketing means:

1 A much more than just selling and advertising

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

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

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

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

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

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

is the extent to which a firm fulfills a

customer's needs, desires, and expectations

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 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

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

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."

Looking at marketing as a set of activities focuses on

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

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."

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

4 D a high standard of living

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

Marketing encourages research and _, the

development and spread of new ideas, goods and services

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

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

229 Free Test Bank for Essentials of Marketing A

Marketing Strategy Planning Approach 13th Edition by Perreault Mutiple Choice Questions - Page 2

Discrepancies of assortment happen when

1 A producers prefer to produce and sell in large numbers, but consumers prefer to buy and consume in smaller numbers

2 B consumers may not want to consume goods and services at the time producers would prefer to produce them

3 C consumers value goods and services in terms of costs and competitive prices whereas producers value them in terms of satisfying needs and ability topay

4 D producers specialize in producing a narrow range of goods and services but consumers need a wide variety

5 E producers hold title to goods and services that they themselves do not want

to consume

Societies need a macro-marketing system

1 A to help match supply and demand

2 B to create a gap between producers and consumers

3 C to accomplish an organization's objectives only

4 D to identify collaborators

5 E to reduce the need for intermediaries

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

When a firm produces a large quantity of a product, the cost of producing each individual unit usually goes down This is known as:

Exchanges between producers and consumers are more difficult in

an advanced economy because of:

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

Viewing marketing as a social process focuses on

1 A marketing by nonprofit organizations

2 B command economies

3 C macro-marketing

4 D micro-marketing

5 E none of these is correct

Marketing is NOT needed in a economy

1 A consumer-oriented

2 B command

3 C pure subsistence

4 D market-directed

5 E none of these is correct

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

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:

If the family units on a South Pacific-island nation made all the

products they consume, it would be a good example of:

1 A a pure subsistence economy

2 B a market-directed economy

3 C a micro-marketing system

4 D a command economy

5 E none of these is a correct answer

Which of the following statements is FALSE?

1 A Marketing is most important in a pure subsistence economy

2 B Marketing should provide direction for production, accounting, and financialactivities

3 C Marketing builds long-lasting relationships that benefit the selling firm

4 D Marketing doesn't occur unless two or more parties are willing to exchange something for something else

5 E Marketing anticipates customer needs

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

"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

Of the following headlines from a business magazine, which is most likely to be about a MACRO-marketing topic?

1 A "Chinese Women Demand More Luxury Goods."

2 B "Girl Scouts Organize Nationwide Cookie Sale."

3 C "L'eggs Sells Direct in Brazil and Argentina."

4 D "Frito-Lay Offers New Low-Fat Products."

5 E "Coke Losing Beverage Sales in India to local brands."

Of the following headlines from the WALL STREET JOURNAL, which is most likely to be about a MACRO-marketing topic?

1 A "Tupperware Has a New Strategy."

2 B "Thailand Has Unusually Large Number of Wholesalers."

3 C "Military Supplier Shifts to Selling Gas Masks to Private Citizens."

4 D "Coke Plans Beverage Line to Compete with Lipton's."

5 E "Dow Chemical Adds Shipping Safeguards."

Macro-marketing

1 A is a social process

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

Looking at marketing as a social process focuses on

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

Which of the following must occur for marketing to happen?

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

In advanced economies:

1 A mass production with its economies of scale makes the cost of each product higher

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:

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

The following headlines are from Business Week magazine Which article is most likely to be reporting on a MACRO-marketing topic?

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."

In advanced economies:

1 A both supply and demand tend to be homogeneous

2 B producers and consumers are often separated in several ways

3 C most firms specialize in producing and selling small amounts of a huge assortment of goods and services

4 D exchange is aided by discrepancies of quantity and assortment

The fact that producers usually prefer to produce products in large quantities, while most consumers prefer to buy in small quantities, results in:

Which of the following statements about marketing is FALSE?

1 A Marketing affects the products you buy

2 B Marketing applies to nonprofit organizations too

3 C Marketing affects the advertising you see and hear

4 D Marketing offers many good job opportunities

5 E Marketing can help with individual transactions but not in building

relationships with customers

_ 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

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

systems must be evaluated in terms of the same social objectives

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

229 Free Test Bank for Essentials of Marketing A

Marketing Strategy Planning Approach 13th Edition by Perreault Mutiple Choice Questions - Page 3

The universal functions of marketing

1 A are not all needed in market-directed economies

2 B are not all needed in command economies

3 C can be performed by producers, consumers, and a variety of marketing specialists

4 D are performed in the same way in all economic systems

The term "economies of scale" means that:

1 A The largest producers are always the most efficient

2 B The cost of a product goes down as a company produces larger numbers

of it

3 C The more one produces, the greater the profit

4 D It is more efficient for an economy to have a large number of transactions

5 E None of these is correct

involve(s) sorting products according to size and quality

1 A Transporting and storing

1 A Financing and risk taking

2 B Transporting and storing

3 C Market information

4 D Buying

5 E Ben performed all of these marketing functions

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:

1 A These functions can be performed by producers, intermediaries,

collaborators, or consumers

2 B Responsibility for performing these functions can be shared and shifted

3 C From a micro viewpoint, not every company must perform every function

4 D From a macro viewpoint, all these functions must be performed by someone

5 E None of these statements is FALSE

_ refers to the way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption by various people and groups in society

Considering the universal functions of marketing,

1 A they may not be required in all macro-marketing systems

2 B not every firm must perform all of the marketing functions

3 C responsibility for performing them cannot be shifted or shared

4 D all goods and services require all the functions at every level of their production

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

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

1 A excellent communication with customers

2 B a greater number of customers

3 C little distance between customers

4 D a smaller number of competing products.

Which of the following types of firms are collaborators?

1 A Marketing research firms

2 B Overnight delivery firms

3 C Advertising agencies

4 D Product-testing labs

5 E All of these are collaborators

The "universal functions of marketing":

1 A can be eliminated in advanced MACRO-marketing systems

2 B are performed differently and by different parties in different economies

3 C are never performed by consumers

4 D create various separations and discrepancies between producers and consumers

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?

1 A Risk-taking

2 B Financing

3 C Buying

4 D Selling

5 E It is performing none of the universal functions of marketing listed here

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

5 E None of these statements is False.

The universal functions of marketing include buying, selling,

The standardization and grading function of marketing involves:

1 A Looking for and evaluating goods and services

2 B Providing necessary cash and credit

3 C Promoting the product

4 D Sorting products according to size and quality

5 E None of these answers is correct

In macro-marketing

1 A no universal marketing function can be completely eliminated.

2 B the objectives of the individual firm, rather than society, are most important

3 C functions should not be shifted or shared

4 D intermediaries are unnecessary

5 E the emphasis is on the activities of individual organizations

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

marketing collaborator?

1 A Mayflower Transport Company

2 B Internet Advertising, Inc

3 C Wachovia Bank

4 D Market Survey Research, Inc

5 E Quality Coatings Company

An intermediary:

1 A is a wholesaler-not a retailer

2 B usually increases the number of transactions required

3 C tends to make the exchange process more difficult and costly

4 D is someone who specializes in trade rather than production

5 E none of these answers is correct

The "universal functions of marketing":

1 A must be performed in all MACRO-marketing systems

2 B are performed the same way in all economies

3 C are performed by the same parties in all economies

4 D are needed to help foster various separations and discrepancies

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

The standardization and grading function of marketing involves:

1 A promoting goods and services

2 B collection, analysis, and distribution of marketing information

3 C sorting products according to size and quality

4 D looking for and evaluating goods and services

5 E movement of goods from one place to another

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

1 A specialize in trade rather than production

2 B usually have a production orientation

3 C emerged in the marketing company era

4 D are only used in a command economy

5 E facilitate or provide one or more of the marketing functions other than buying or selling

The buying function of marketing involves

1 A risk-taking

2 B promoting the product

3 C looking for and evaluating goods and services

4 D the use of personal selling

5 E sorting products according to size and quality

Marketing intermediaries and collaborators can often perform

marketing functions:

1 A worse than producers or consumers can perform them

2 B which leaves producers with more time for production

3 C which leaves consumers with less time for consumption

4 D at a high cost-because of specialization, economies of scale, or

e-commerce

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

marketing collaborator?

1 A United Parcel Service (UPS)

2 B Public Warehouse Corporation

3 C Broadband Communications Company

4 D MeadowView Aluminum Company

5 E Product Safety Testing Laboratories, Inc

A MACRO-marketing system should:

1 A provide everyone with the same goods and services

2 B be part of a market-directed economy, not a command economy

3 C accomplish a particular society's objectives, whatever they are

4 D depend solely on a society's political institutions

Concerning the "universal functions of marketing," it is true that:

1 A these functions must be performed in all MACRO-marketing systems

2 B these functions can be performed by producers or intermediaries-but not byconsumers

3 C from a MICRO viewpoint, every firm must perform all of the functions

4 D responsibility for performing these functions can be shifted and shared-andsome functions can be completely eliminated to reduce costs

The "universal functions of marketing":

1 A are usually performed in the same way and by the same types of

institutions in all MACRO-marketing systems

2 B can sometimes be eliminated-in very efficient macro-marketing systems

3 C must be performed in both market-directed and command economies

4 D must all be performed by every firm from a MICRO view.

Which of the following is NOT true about intermediaries?

1 A They save time for other participants in a transaction

2 B They always increase total expenses for a product

3 C They play an important role in the exchange process

4 D They specialize in trade rather than production

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

5 E Golden Arbor Farms

229 Free Test Bank for Essentials of Marketing A

Marketing Strategy Planning Approach 13th Edition by Perreault Mutiple Choice Questions - Page 4

From the Industrial Revolution until the 1920s, most companies were in the

1 A marketing department era

2 B production era

3 C simple trade era

4 D marketing company era

5 E sales era

Which of the following is the BEST example of management

thinking during the "production era"?

1 A "We need to make whatever products are easy to produce."

2 B "We need to find out what the customer wants."

3 C "The more salespeople we have, the more we can sell."

4 D "We need to work hard to sell the product to our customers."

5 E "If we produce a good product, customers will find us and buy it."

In a command economy, government officials decide:

1 A who is to produce and distribute what to whom

2 B how much is to be produced

3 C how much is to be distributed to whom

4 D what is to be produced

5 E government officials decide on all of these

The text discusses the evolution of business through five "eras." Which of the following is NOT one of these eras?

1 A Simple trade era

2 B Sales era

3 C Facilitator era

4 D Marketing department era

5 E Production era

The role of price in a market-directed economy is to:

1 A allocate resources and distribute income according to consumer

preferences

2 B serve as a rough measure of the social importance of consumer goods andservices

3 C coordinate the economic activity of many people and institutions

4 D serve as a rough measure of the value of resources used to produce goodsand services

5 E All of these are true

In the era, families traded or sold their "surplus" output to local distributors

2 B customer value

3 C market supply

4 D company costs

5 E economic inflation

Which of the following statements about economic systems is true?

1 A Consumers usually have more freedom of choice in a market-directed economy

2 B Command economies are most effective for countries with large and

complicated varieties of goods and services

3 C Branding is less common in a market-directed economy than in a

command economy

4 D The United States is a good example of a command economy

5 E None of these statements is true

During the era, concern about increased

competition lead firms to focus on selling to attract customers

The president of a company that produces cardboard boxes is

concerned about the large number of competitors with extra

capacity As he put it, "our best shot is in the hands of our sales manager-she makes all of our marketing decisions and is creative enough to figure out how to sell more boxes." It seems that this company is run as if it were in the:

1 A production era

2 B marketing company era

3 C simple trade era

4 D sales era

5 E marketing department era

In a market-directed economy: