Chapter 1 – Defining Marketing for the Twenty-First Century
True/False Questions
1. Large, well known businesses have newly empowered customers, and have had to rethink their business models. True (moderate) p. 2
2. In the most generic sense, marketers seek to elicit a behavioral response from another party. True (moderate) p. 4
3. The following are entities which are commonly marketed: goods, services, distances, ideas, and information. False (moderate) pp. 4–5
4. Marketers and economists agree on the definition of the term “market.” False (moderate) p. 5
5. The computer metamarket consists of the manufacturers of computer memory chips, monitors, keyboards, coaxial cables, modems, software, storage systems (disks, hard drives, portable
USB media), and those who install, repair, and maintain systems and software. True (moderate) p. 6
6. The production concept holds that consumers will prefer products that are widely available and inexpensive. True (moderate) pp. 6–7
7. The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior customer value to its chosen target markets. True (moderate) pp. 7–8
8. Holistic marketing considers each of the following: relationship marketing, production marketing, integrated marketing, and social responsibility marketing. False (moderate) p. 8
9. The “four Cs” that correspond to the “four Ps” of the marketing mix are customer solution, customer confidence, convenience, and communication. False (difficult) p. 9
10. The customer value triad is made up of a combination of price, quality, and service. True (moderate) p. 14
Multiple Choice Questions
1. __________ is(are) an organizational function(s) and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its shareholders. a. Marketing (easy) p. 3 b. Management
c. Strategic planning d. Ethics
e. Consumer behavior
2. Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. a. internally
b. management (moderate) p. 3
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c. segmentation d. training e. integration
3. 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) p. 3 d. the cost of the product e. customer satisfaction
4. Which of the following is an example of an entity that marketing people market? a. A Civil War novel about two sisters. b. Actor Jake Gyllenhaal.
c. The Homespun Arts & Crafts Festival. d. Plastic.
e. All of the above. (difficult) pp. 4–5
5. Which of the following is correct?
a. A metamediary is a physical marketplace. b. A marketspace is a stall in a flea market. c. A metamarket is a huge store.
d. A marketspace is a digital shopping “area.” (difficult) p. 6 e. A megamarket includes only suppliers.
6. The first computers originated for home use were only sold in kit form to technical enthusiasts who did their own assembly. Demand was high and so were prices. At that time, the firm offering these kits would likely have been using the __________ concept. a. product (moderate) p. 7 b. market
c. technological d. production e. selling
7. Intel, one of the largest producers of integrated circuit chips, puts a great deal of effort into expanding production of chips to drive down the cost and thus expand the market. This is most indicative of the __________ concept.
a. production (moderate) pp. 6–7 b. product c. customer d. marketing e. societal
8. Which of the following represents the product concept?
a. A better mousetrap will lead people to beat a path to the marketer’s door. (moderate) p. 7 b. It is both a proactive and a reactive form of marketing. c. It is a customer-centered, “sense and respond” philosophy.
d. Consumers, if left alone, will not buy enough of the organization’s product. e. Selling more products will allow for lower production costs and higher profits.
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9. Producers of unsought products like burial insurance would normally employ the __________ concept. a. production b. product c. marketing
d. selling (moderate) p. 7 e. customer
10. __________ is based on the development, design, and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies. It recognizes that “everything matters” with marketing. a. Relationship marketing
b. Holistic marketing (moderate) p. 8 c. Just-in-time production d. A marketing network
e. The Ford Motor Company Light Truck Division
11. Dinetah Shoes collects information on its customers’ past purchases, their demographics and psychographics, and their media use and preferences. The goal is to capture a higher share of future purchases and developing stronger loyalty among its most important target segments. Dinetah Shoes is using __________. a. network marketing
b. knowledge management c. multidimensional scaling d. integrated marketing
e. relationship marketing (moderate) p. 8
12. Customers, employees, suppliers, and distributors could all be considered __________. a. stockholders
b. stakeholders (moderate) p. 9 c. channel members
d. part of the marketing organization e. supply chain members
13. When Caitlin Peterson began OldeTowne Spice Company, she had one product, an all-purpose
seasoning mix called OldeTowne Special Blend for adding flavor to bland casseroles. She sold 5.5-ounce bottles of her seasoning mix for $6.95. Her only outlets were booths at craft fairs throughout the
Northeast. She relied on word-of-mouth advertising and a few feature articles in regional newspapers to tell people about her product. The above describes OldeTowne Spice Company’s __________. a. method of exchange b. transaction marketing c. marketing tactics
d. marketing mix (difficult) p. 9 e. transfer marketing
14. The tasks of hiring, training, and motivating able employees who work together and embrace a “think customer” perspective are all a part of __________ marketing. a. integrated b. extrapolated c. myopic
d. relationship
e. internal (moderate) p. 11
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15. Taking into account profitability, customer’s need, and the greater societal good when marketing is called __________.
a. the societal marketing concept (moderate) p. 12 b. the selling orientation c. the customer concept d. the value proposition e. cause-related marketing
16. For each 20 kilo bag of Ole Boy High Pro dog food that is purchased, the manufacturer makes a donation to the American Humane Society. The terms of the donation are prominently displayed on the bags and included in its print ads. The manufacturer of Ole Boy is using __________ marketing. a. advocacy b. service c. nonprofit d. pro bono
e. cause-related (moderate) p. 12
17. __________ are wants for specific products backed by an ability to pay. a. Demands (moderate) p. 13 b. Needs c. Values d. Morals e. Exchanges
18. Which is true?
a. Needs preexist marketers. (moderate) pp. 12–13 b. Marketers create needs.
c. A person’s need for food or shelter is a creation of marketers.
d. Wants become needs when they are directed at specific objects that might satisfy the want. e. Demand strictly means desire for some object.
19. June and Henry produce and sell garden artwork. They are debating over a description of the potential customers for their artwork. Jane and Henry are debating __________. a. the definition of customer value b. customer satisfaction
c. who their market is (moderate) p. 13 d. what constitutes an exchange e. relationship marketing
20. A brand name such as BMW carries many associations in the minds of people: speed, expensive, engineering, status, the BMW logo. These associations make up BMW’s __________. a. brand strength
b. customer value triad
c. brand image (moderate) p. 14 d. effective demand e. value proposition
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