Marketing Midterm

Front 1

Marketing and production combine to provide five economic utilities. Which of the following is NOT one of these five?

Back 1

B) Product

Front 2

Having the right to use or consume a product is:

Back 2

C) Possesion Utility

Front 3

Which of the following statements about economic utility is NOT true?

Back 3

D) Time utlilty means getting a new product onto the market in as short a time as possible.

Front 4

Whicho of the following statements about marketing is False?

Back 4

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

Front 5

Marketing is

Back 5

D) All the above are correct:

Front 6

Looking at marketing as a set of activities focuses on

Back 6

C) Micro Marketing

Front 7

Micro Marketing

Back 7

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

Front 8

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

Back 8

E) all of the above would need marketing skills.

Front 9

Which of the following is the best example of micro-marketing?

Back 9

C) the american red cross seeks more blood donors.

Front 10

Which of the following statements by a U.S. president best reflects a MICRO-marketing point of view?

Back 10

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

Front 11

Which of the following statements best describes the modern view of marketing?

Back 11

C) Marketing anticipates customer needs.

Front 12

Effective MICRO-marketing should begin with

Back 12

B) Potential customer needs

Front 13

Marketing will not happen unless:

Back 13

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

Front 14

Which of the following statements about marketing is FALSE?

Back 14

E)Marketing can help with individual transactions but not in building relationships with customers.

Front 15

Viewing marketing as a social process focuses on

Back 15

C) Macro - Marketing

Front 16

MACRO _MArKETING

Back 16

E ) Al of the above are true statements

Front 17

Which of the following criticisms focuses most directly on our MACRO-marketing system rather than on micro-marketing:

Back 17

C)marketing exploits the poor and the uneducated.

Front 18

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

Back 18

B) "Russia Increases Output of Consumer Goods."

Front 19

The following headlines are for articles from the WALL STREET JOURNAL. Which article is most likely to be reporting a MACRO-marketing topic?

Back 19

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

Front 20

Exchange between producers and consumers is more difficult in an advanced economy because of:

Back 20

E) All of the above

Front 21

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

Back 21

C) spatial separation.

Front 22

"Economies of scale" means that:

Back 22

A) as a company produces larger numbers of a particular product, the cost of each of these products goes down.

Front 23

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

Back 23

C) Economies of Scale

Front 24

The "universal functions of marketing" do NOT include:

Back 24

B) Producing

Front 25

An Intermeditary

Back 25

is someone who specializes in trade rather than production.

Front 26

Which of the following is a true statement?

Back 26

Responsibility for performing marketing functions can be shifted and shared, but usually no function can be completely eliminated.

Front 27

Which of the following is LEAST LIKELY to be a government role in a market-directed economic system?

Back 27

E) To determine prices - and thereby allocate resources and distribute income.

Front 28

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

Back 28

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

Front 29

A "production-oriented" firm typically:

Back 29

C) tries to sell the product it can make easily.

Front 30

Which of the following is MOST LIKELY to be found in a production-oriented firm?

Back 30

B)Making products that are easy to produce.

Front 31

A firm with a marketing orientation:

Back 31

C) tries to determine customers' needs before developing its product.

Front 32

The difference between "production orientation" and "marketing orientation" is best explained as follows:

Back 32

in a marketing-oriented firm, every department's activities are guided by what customers need and what the firm can deliver at a profit.