1. Companies at the greatest risk in today’s marketplace are doing all of the following EXCEPT:
a. not monitoring their customers.
b. not lowering prices sufficiently. (difficult)
c. failing to continuously improve.
d. taking a short-term, sales-driven view of their business.
e. not monitoring their competitors.
2. __________ is (are) an organizational function(s) and a set of processes for creating,communicating, and delivering value to customers and for managing customer relationships inways that benefit the organization and its shareholders.
a. Marketing (easy)
b. Management
c. Strategic planning
d. Ethics
e. Consumer behavior
3. Marketing __________ is the art and science of choosing target markets and getting, keeping, andgrowing customers through creating, delivering, and communicating superior customer value.
a. internally
b. management (moderate)
c. segmentation
d. training
e. integration
4. Which of the following is probably the best definition of marketing?
a. “The art of selling products.”
b. An organizational function employed to offer lower prices and superior selection.
c. Creating, communicating, and delivering value to chosen customers in ways that benefit theorganization and its stakeholders. (moderate)
d. Using marketing savvy to turn private or social needs into profitable business opportunities.
e. “Meeting needs profitably.”
5. Which of the following is NOT true?
a. All that is needed for success is to make a good product or service available. (moderate)
b. The most important part of marketing is not selling.
c. Famous business guru Peter Drucker said, “The aim of marketing is to make selling superfluous.”
d. Ideally, marketing should result in a customer who is ready to buy.
e. Careful marketing homework often results in lots of consumer demand.
6. The act of obtaining a desired product from someone by offering something in return is known as
__________.
a. product valuation
b. the service desired of the product
c. an exchange (moderate)
d. the cost of the product
e. customer satisfaction
7. Which is NOT necessary in order for exchange to exist?
a. At least two parties.
b. Satisfaction by both parties. (difficult)
c. Each party is free to accept or reject the offer.
d. Each party believes it is appropriate or desirable to deal with the other party.
e. Each party has something that might be of value to the other party.
8. Which of the following is an example of a transfer?
a. Ms. Chen gives Bonnie a dozen cookies for walking her dog.
b. James buys a sweater at a flea market.
c. Andy places the winning bid on a vase at an auction.
d. Anna donates money to the Cancer Foundation of China. (difficult)
e. All of the above are examples of transfers.
9. Which of the following is an example of an entity that marketing people market?
a. The War of Liberation (Chinese Civil War) about two sisters.
b. Actor Jackie Chan
c. China Import and Export Fair (Canton Fair)
d. Plastic.
e. All of the above. (difficult)
10. Which of the following is NOT an entity that can be marketed?
a. Places.
b. Events.
c. Information.
d. Persons.
e. All of the above can be marketed. (moderate) |