Google, Facebook and YouTube are all innovative, and each company has succeeded because it provided value to its customers.
Marketing is an activity that only large firms with specialized departments can use. True
The group of firms that makes and delivers a given set of goods and services is known as a supply chain. True
The goals of marketing promotion are youth, style, and sex appeal. True
Thoughts, opinions, and philosophies fit the concepts of neither goods nor services, and they cannot really be marketed.
The four Ps include persistence, promotion, presence, and performance. True
Understanding a market's needs and wants is fundamental to marketing success. True
Good marketing is not a random activity.
Value is what you get for what you give.
10. In co-creation, the customer is involved as a collaborator in the creation of a product or service, which provides additional value to the customer.
11. Value-based marketing supports developing long-term customer loyalty. True
12. During the past decade or so, marketers have begun to realize that they need to think about their customer orientation in terms of transactions rather than relationships. True
13. In value-based marketing firms, the economics department is responsible for coordinating all aspects of supply and demand.
14. Marketers in a number of major food manufacturers have acted to restrict advertising to children in response to public concerns about obesity in children and the impact of advertising fast food. True
15. Which of the following activities does NOT involve marketing? A. Purchasing gasoline
B. Attending marketing class
C. Downloading music
D. Deciding how many hours to sleep
E. Selling a CD on eBay
16. Marketing involves all of the following EXCEPT:
B. satisfying customer needs and wants.
C. creating value.
D. efforts by individuals and organizations.
E. production scheduling.
17. Whenever Jami calls on his building contractor customers he asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing? A. Satisfying customer needs and wants
B. Exchange function of marketing
C. Product, place, promotion, and price decisions
D. Decisions regarding in which setting marketing takes place E. Creating value objective of marketing
18. Julia is considering a career in marketing. She is concerned about the image of marketers as fast-talking, high-pressure people. When reading about the core aspects of marketing, Julia is relieved to see that in marketing:
A. all parties to an exchange should be satisfied.
B. promotion is foremost, followed by pricing decisions.
C. decisions are made regarding how a product is designed.
D. customers are not needed until the product is ready for sale. E. distribution is controlled by customers.
19. When referring to "exchange," marketers are focusing on: A. location where products and services are traded.
B. price charged adjusted for currency exchange rates.
C. creating value.
D. promotional offers designed to stimulate barter.
E. the trading of things of value.
20. Whenever Valerie has a new massage therapy customer, she asks the person if they want to be on her email distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering:
B. promotional effective analysis.
C. pricing data.
E. names to sell to list brokers.
21. Smart marketers recognize that when exchanges take place with their customers, whether in person or electronically, it is an opportunity to:
A. demonstrate the limitations of...