396 basic marketing a strategic marketing planning approach 19th edition đề trắc nghiệm marketing

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396 Basic Marketing A Strategic Marketing Planning Approach 19th Edition

Mutiple Choice Questions - Page 1

Micro-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

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

Marketing

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

Marketing:

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

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

Which of the following statements best describes the

modern view of marketing?

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

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

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

Macro-marketing examines all the following challenging scenarios except:

1. A Producers prefer to manufacture goods in large quantities, but consumers buy

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

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

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

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

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.

According to the text, marketing means:

1. A.much more than selling and advertising

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

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

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

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 goodsand services are to be developed

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 bedeveloped

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

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

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 Distribution

2 B Making good products

3 C More than selling and advertising

4 D Promotion

5 E Performing services

_ 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

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

Looking at marketing as a set of activities focuses on

2 B assessment

3 C evaluation

4 D innovation

5 E introspection

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

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

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."

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 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

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

The development and spread of new ideas, goods, and

services for the marketplace is called:

5 E All of these organizations would be likely to need marketing skills

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

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."

Micro-marketing:

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

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:

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

250 Free Test Bank for Basic Marketing A Strategic Marketing Planning Approach 19th Edition by Perreault Mutiple Choice Questions - Page 2

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 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?

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

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."

When a firm produces a large quantity of a product, the cost

of producing each individual unit usually goes down This is known as:

3 C tries to disrupt supply and demand

4 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

Viewing marketing as a social process focuses on

1. A marketing by nonprofit organizations

1. A is concerned with the activities performed by individual business organizations

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

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

Since individual firms cannot perform all marketing

functions, _ often play a role in the exchange process

_ 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

1. A Discrepancies of assortment

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

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

"Economies of scale" means that:

1. A as a company produces larger numbers of a particular product, the cost of eachunit 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

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 producerswould 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 to pay

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

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 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

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

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

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

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

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:

1. A separation in time

2 B discrepancy of quantity

3 C separation in values

4 D discrepancy of assortment

5 E spatial separation.

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

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 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."

Looking at marketing as a social process focuses on

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

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

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

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

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

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:

1. A separation of information

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."

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 is FALSE?

1. A Marketing is most important in a pure subsistence economy

2 B Marketing should provide direction for production, accounting, and financial activities

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

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

The primary purpose of the transporting and storing

functions of marketing is to overcome:

1. A the need for marketing specialists

1. A standardization and weighing, financing, risk taking, and marketing information

2 B standardization and grading, facilitating, risk taking, and marketing information

3 C standardization and grading, financing, risk taking, and marketing information

4 D standardization and grading, financing, risk taking, and merchandising

information

250 Free Test Bank for Basic Marketing A Strategic Marketing Planning Approach 19th Edition by Perreault Mutiple Choice Questions - Page 3

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

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

From the perspective of macro-marketing, e-commerce

specialists CarFax (which provides vehicle history reports) and Cars.com (a website offering auto comparison

shopping) have emerged within the auto industry because:

1. A auto manufacturers need to sell direct to consumers

2 B the market needs competitive rivals to auto dealerships

3 C the information they provide makes the exchange process between producers and consumers more efficient and effective

4 D the role of the automotive sales person is becoming obsolete

5 E consumers live far distances from most automotive plants

Which of the following is NOT one of the "universal

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

Amazon.com and eBay.com are both considered

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 and Paint Company

involve(s) sorting products according to size and quality

1. A Transporting and storing

2 B Financing

3 C Standardization and grading

4 D Marketing

5 E Buying

An economic system in which government officials

determine production levels is known as:

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

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 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 a command economy:

1. A producers generally have a lot of choice about what and how much to produce

2 B prices usually fluctuate according to supply and demand

3 C marketing activities such as advertising, branding, and market research are encouraged

4 D consumers usually have some freedom of choice—but it is quite limited

An economic system in which government planners

determine production levels is known as

1. A a command economic system

2 B a micro-marketing economic system

3 C a macro-marketing economic system

4 D a market-directed economic system

5 E a pure subsistence economic system

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

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

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 by consumers

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—and some functions can be completely eliminated to reduce costs

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:

2 B the individual decisions of the many producers and consumers come together

to make the macro-level decisions

3 C consumers make a society's production decisions

4 D consumers decide what is to be produced and by whom through their dollar

"votes."

5 E the market adjusts itself

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

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

1. A Apex Manufacturing, Inc

2 B Lillian's Mini-Market

3 C McGraw Hill/Irwin

4 D Kellogg

5 E Golden Arbor Farms

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

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

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

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

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?

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

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

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 "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 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

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

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

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

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

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 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

Which of the following statements about the "universal

functions of marketing" is False?

1. A These functions do not have to be performed in all macro-marketing systems

2 B How the functions are performed may differ among nations and economic systems

3 C Who performs the functions may differ among nations and economic systems

4 D These functions help to overcome discrepancies of quantity and assortment

5 E None of these statements is False

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 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

250 Free Test Bank for Basic Marketing A Strategic Marketing Planning Approach 19th Edition by Perreault Mutiple Choice Questions - Page 4

Which item famously originated in the production era?

1. A Laptop computers

2 B Home movie rentals

3 C Chariots

4 D Automobiles

5 E Compact fluorescent light bulbs

Because of increased competition during the _ era, firms put new effort into winning customers

1. A Consumers enjoy maximum freedom of choice

2 B Producers enjoy maximum freedom of choice

3 C The interaction between consumers and producers is great

4 D Government is responsible for setting up all marketing activities

5 E The price of a consumer product serves as a measure of its value.

In a market-directed economy:

1. A marketing managers make all the important economic decisions

2 B government planners make all the important economic decisions

3 C all the important economic decisions are made by voters in political elections

4 D consumers make all the important economic decisions

5 E the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy

The text discusses the evolution of business through five

"eras." Which of the following is NOT one of these eras?

1. A Diversification era

2 B Sales era

3 C Production era

4 D Marketing company era

5 E Simple trade era

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

Which of the following BEST describes what is necessary for

a country's MACRO-marketing system to be "fair and

effective"?

1. A No low quality or dangerous products are sold

2 B Product shortages never exist

3 C There is a big choice of goods and services

4 D All consumers get the same opportunity to enjoy a high standard of living

5 E There is not enough information to select an answer

Which of the following statements about economic decision making is TRUE?

1. A In a market-directed economy, the micro-level decisions of individual producers and consumers determine the macro-level decisions

2 B Government planning usually works best when economies become more complex and the variety of goods and services produced is fairly large

3 C The United States may be considered a pure market-directed economy

4 D Command economies usually rely on market forces to determine prices

The various economic systems around the world are:

1. A equally effective at providing for the needs of citizens

2 B always shaped by the free decisions of producers and consumers

3 C known collectively as the "command economy."

4 D heavily influenced by a society's political institutions

5 E based on the ideal of a pure subsistence economy

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 and services

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 goods andservices

5 E All of these are true

Administrators at a university noted that they were 200

students short of their enrollment projection as the start of the school year approached The president of the university, fearing a revenue shortage, told the director of admissions,

"You need to use whatever means necessary to get enough students to meet the projection before classes start Run ads

in the newspaper, call high school guidance counselors, recruit from our pool of rejected applicants—whatever it takes." The university president is opera

1. A Simple trade era

2 B Production era

3 C Sales era

4 D Marketing department era

5 E Marketing company era

The economic freedom provided within a market-directed economy produces the greatest number of:

1. A To set rules to protect individual rights and freedom

2 B To supervise the economy

3 C To provide things such as mass transportation and highways, national defense,police and fire protection, and public health services

4 D To control interest rates and the supply of money

5 E To determine prices—and thereby allocate resources and distribute income

The _ era is a time when a company

emphasizes selling because of the increased competition in the external environment

1. A Simple trade, production, sales, marketing company, marketing department

2 B Subsistence, production, sales, entrepreneurial, marketing company

3 C Simple trade, production, sales, marketing department, international trading

4 D Simple trade, production, sales, entrepreneurial, marketing company

5 E Simple trade, production, sales, marketing department, marketing company

During the era, concern about increased competition lead firms to focus on selling to attract

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 the marketplace are a rough measure of how

society values particular goods and services

1. A Inventories

2 B Prices

3 C Cost of labor and materials

4 D The number of producers

5 E Discrepancies of quantity

Consumers in a market-directed economy

1. A enjoy limited freedom of choice

2 B are taxed to provide for goods and services that benefit society, such as public health, national defense, highways, police and fire protection

3 C do not decide what is to be produced and by whom

4 D have to buy what is being produced

5 E do not have to buy any goods or services

Identify the incorrect statement about market-directed

economies

1. A A market-directed economy adjusts itself

2 B The American economy is completely market-directed

3 C Consumers in a market-directed economy decide what is to be produced and

by whom—through their dollar "votes."

4 D Consumers in a market-directed economy enjoy great freedom of choice

Which era of marketing is characterized by families who sold their surpluses to local distributors?

1. A The simple trade era

2 B The production era

3 C The sales era

4 D The marketing department era

5 E The marketing company era

Which of the following statements does not describe a

command economy?

1. A Government bureaucrats decide what and how much is to be produced

2 B A command economy is sometimes called a "planned economy."

3 C Prices are set by the law of supply and demand

4 D Producers offer a highly limited assortment of goods and services

5 E The economy is found in countries like Iran and North Korea

In a the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy

of these "innovators" operated as if they were in the:

1. A simple trade era

2 B marketing department era

3 C excess capacity era

4 D marketing company era

5 E marketing department era.

Which of the following statements about a market-directed economic system is True?

1. A Consumers enjoy substantial freedom of choice

2 B Profit, growth and survival are guaranteed

3 C Government has no role

4 D There is very little interaction between producers and consumers

Which of the following statements about economic systems

3 C Producers always make a profit in a market-directed system

4 D A command economy is more likely to work if the variety of goods and services

1. A "If we sell harder, we will sell more."

2 B "We need to cater to the diverse needs of consumers."

3 C "There is no limit on what we can sell if we produce efficiently."

4 D "The more options we offer consumers, the better."

5 E "Advertising is the key to our success."

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

In a market-directed economy:

1. A profit, survival, and growth are all guaranteed for producers

2 B consumers have little freedom of choice

3 C consumers decide what is to be produced and by whom through their dollar votes

4 D prices usually do not change according to supply and demand

5 E only the needs of the majority are served

Whether a macro-marketing system is fair or effective

depends on

1. A goods and services being evenly distributed across the population

2 B discrepancies of quantity

3 C the emphasis given to military spending

4 D the marketing orientation of individual firms

5 E the objectives of the society

The text considers five "eras" of marketing evolution Which

of the following shows the logical order in which these eras occur?

1. A Marketing department, production, sales, simple trade, marketing company

2 B Sales, production, marketing department, marketing company, simple trade

3 C Sales, simple trade, marketing company, production, marketing department

4 D Simple trade, production, sales, marketing company, marketing department

5 E Simple trade, production, sales, marketing department, marketing company

_ NOT the government's job in a market-directed

economy

1. A Protecting property and enforcing contracts are

2 B Regulating radio and television broadcasting is

3 C Setting import and export rules is

4 D Determining what and how much is to be produced is

5 E Controlling interest rates and the supply of money are

A firm that focuses its attention primarily on "selling" its present products in order to meet or beat competition is operating in which of the following "management eras"?

1. A Production era

2 B Sales era

3 C Marketing department era

4 D Marketing company era

5 E Advertising era

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

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

Which of the following is the BEST example of management thinking during the "production era"?

1. A "The more we advertise a product, the more we can sell."

2 B "We need to increase our sales effort—to sell what we can produce."

3 C "If we can produce it, customers will buy it."

4 D "We need to be selective and produce what customers want."

5 E "The lower we price a product, the more we can sell."

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

An organization practicing aims all its efforts at

satisfying its customers—at a profit

1. A the sales concept

2 B a production orientation

3 C in the marketing department era

4 D profit maximization economics

5 E the marketing concept

Managers who think of customers existing to buy the firm's output rather than of firms existing to serve customers and

—more broadly—the needs of society, have a

2 B produces new products and services

3 C creates a broad assortment of products

4 D produces quality products

5 E focuses on satisfying customers' needs

Regarding the five stages in marketing evolution:

1. A Few firms have graduated to the marketing company era

2 B For most firms, the sales era continued until at least 1950

3 C In the marketing department era, firms began to do long-run planning

4 D The production era was the first era to evolve

SouthFace Corporation just named Chloe Perry to a

marketing management position One of the reasons she accepted a position with this company was its reputation for market-oriented long-range planning SouthFace Corp is probably operating in the era

The triple bottom line is a measure of a firm's success based

on multiple criteria commonly referred to as:

1. A product, price, and promotion

2 B people, planet, and profit

3 C partnership, planning, and positioning

4 D segmentation, targeting, and positioning

5 E brands, buyers, and bucks

"Production orientation" refers to the attitudes of:

1. A sales managers

2 B accountants

3 C financial managers

4 D production managers

5 E anyone who doesn't practice the marketing concept

The main difference between the "marketing department era" and the "marketing company era" is:

1. A more emphasis on selling and advertising in the marketing department era

2 B whether the president of the firm has a background in marketing

3 C more emphasis on short-run planning in the marketing company era

4 D whether the whole company is customer-oriented

5 E There is no difference

The three basic ideas in the "marketing concept" are:

1. A customer satisfaction, resource efficiency, sales maximization

2 B customer satisfaction, total company effort, sales growth

3 C resource efficiency, sales growth, profit maximization

4 D customer satisfaction, marketing manager as chief executive, profit

5 E customer satisfaction, total company effort, profit

When marketing people do long-range planning and the whole company is guided by the "marketing concept," the company has entered the era

1. A production

2 B customer satisfaction