Question_CHAP1_15Dec_3rd

Question # 00005687 Posted By: smartwriter Updated on: 12/22/2013 03:06 PM Due on: 12/31/2013
Subject Business Topic General Business Tutorials:
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81. Which of the following statements about marketing is FALSE?

A) Marketing concepts and techniques apply for nonprofit organizations--as well as for profit-seeking organizations.

B) Marketing offers many rewarding career opportunities.

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

D) Marketing affects almost every part of your daily life.

E) Marketing is vital for economic growth and development.

82. Marketing can be viewed as:

A) a set of activities performed by individual organizations.

B) relevant to both business and nonprofit organizations.

C) a social process.

D) all of the above are correct.

E) only A and B above.

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83. Looking at marketing as a set of activities focuses on

A) macro-marketing.

B) for-profit marketing.

C) micro-marketing.

D) nonprofit marketing.

E) personalized marketing.

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84. Marketing:

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

B) begins with the production process.

C) involves persuading customers to buy your product.

D) is a social process involving all producers, middlemen, and consumers.

E) tries to make the whole economic system fair and effective.

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85. Marketing:

A) is concerned with whether the whole system is fair and effective.

B) applies only to profit organizations.

C) consists only of personal selling and advertising.

D) is a social process.

E) tries to anticipate and satisfy customer needs and accomplish an organization's objectives.

86. Marketing:

A) applies to both profit and nonprofit organizations.

B) says that marketing should take over all production, accounting, and financial activities.

C) should begin as soon as goods are produced.

D) does away with the need for advertising.

E) All of the above are true.

87. Marketing:

A) emphasizes mass selling over personal selling.

B) allows production, rather than marketing, to determine what products to make.

C) applies to both profit and nonprofit organizations.

D) concentrates on production, rather than advertising.

E) none of the above.

88. Marketing:

A) is concerned with need-satisfying goods, but not with services.

B) involves an attempt to anticipate customer or client needs.

C) is primarily concerned with efficient use of resources and fair allocation of output.

D) includes activities such as accounting, production, and financial management.

E) is the process of selling and distributing manufactured goods.

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

A) an accountant

B) an electronics retailer

C) a toy manufacturer

D) a financial advisor

E) All of the above would need marketing skills.

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90. From a micro view, which of the following is the best example of marketing?

A) North Korea unveils a new five-year production plan.

B) China and the U.S. agree on a new trade agreement.

C) The American Red Cross seeks more blood donors.

D) The Internet makes it possible for firms to reach customers in other countries.

E) None of the above is a good example.

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

A) "A tax cut will give consumers more spending money."

B) "With interest rates low, many young people can now afford to buy a new home."

C) "In the United States we have a better choice of products than in any other country."

D) "My administration will spend 75 percent more on purchases related to domestic security during the next year."

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

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

A) Marketing is only necessary for profit-oriented firms.

B) Marketing consists mainly of advertising and personal selling.

C) Marketing anticipates customer needs.

D) Marketing begins as soon as products are produced.

E) Firms that don't rely on e-commerce should put more emphasis on marketing.

93. Effective marketing should begin with

A) an effort to persuade unwilling customers to buy the firm's products.

B) potential customer needs.

C) a decision about what the firm can produce efficiently.

D) evaluation of the effect of the firm's decisions on the MACRO-marketing system.

E) the marketing manager making important production, accounting, and financial decisions for the firm.

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94. Marketing could NOT take place without:

A) intermediaries.

B) collaborators.

C) two or more parties who are willing to exchange something for something else.

D) a high standard of living.

E) all of the above.

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95. Marketing will not happen unless:

A) e-commerce is flourishing.

B) collaborators are present to simplify exchange.

C) middlemen are present to facilitate exchange.

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

E) an economy is market-directed rather than command.

96. Marketing is NOT needed in a ______________ economy.

A) consumer-oriented

B) command

C) pure subsistence

D) market-directed

E) none of the above

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97. In a pure subsistence economy,

A) each family unit is self-sufficient.

B) exchanges are not important.

C) there is no need for middlemen.

D) All of the above are true.

E) None of the above is true.

98. If the family units on a South Pacific-island nation made all the products they consume, it would be a good example of:

A) a pure subsistence economy.

B) a market-directed economy.

C) a micro-marketing system.

D) a command economy.

E) none of the above.

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99. Which of the following statements about marketing is FALSE?

A) Marketing affects the products you buy.

B) Marketing applies to nonprofit organizations too.

C) Marketing affects the advertising you see and hear.

D) Marketing offers many good job opportunities.

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

100. Viewing marketing as a social process focuses on

A) marketing by nonprofit organizations.

B) command economies.

C) macro-marketing.

D) micro-marketing.

E) none of the above.

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101. Looking at marketing as a social process focuses on

A) macro-marketing.

B) for-profit marketing.

C) micro-marketing.

D) nonprofit marketing.

E) personalized marketing.

102. MACRO-marketing:

A) is a social process.

B) tries to overcome "discrepancies of quantity" and "discrepancies of assortment."

C) tries to effectively match supply and demand.

D) tries to overcome the many separations between producers and consumers.

E) All of the above are true statements.

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103. Macro-marketing:

A) tries to produce discrepancies of quantity and discrepancies of assortment.

B) focuses on the activities of individual organizations.

C) tries to effectively match supply and demand.

D) all of the above.

E) none of the above.

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104. Macro-marketing:

A) is not concerned with the flow of goods and services from producers to consumers.

B) seeks to match homogeneous supply capabilities with homogeneous demands for goods and services.

C) refers to a set of activities performed by both profit and nonprofit organizations.

D) focuses on the objectives of society.

E) All of the above are true statements.

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

A) "Two-Person Engineering Firm Offers Unique Service."

B) "Russia Increases Output of Consumer Goods."

C) "Pepsi Sells in Japan."

D) "BankAmerica Offers New Internet Banking Services."

E) "Donations to Tsunami Victims Fund Increase after TV Broadcast."

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

A) "Mercedes Goes after Luxury Sport Utility Buyers."

B) "Adidas Jumps as Footwear Competition Heats Up."

C) "Drugstore Chain Aims at Seniors."

D) "Hardee's Fried Chicken Takes on KFC."

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

107. Of the following headlines from the WALL STREET JOURNAL, which is most likely to be about a MACRO-marketing topic?

A) "Tupperware Has a New Strategy."

B) "Thailand Has Unusually Large Number of Wholesalers."

C) "Military Supplier Shifts to Selling Gas Masks to Private Citizens."

D) "Coke Plans Beverage Line to Compete with Lipton's."

E) "Dow Chemical Adds Shipping Safeguards."

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108. Of the following headlines from a business magazine, which is most likely to be about a MACRO-marketing topic?

A) "Chinese Women Demand More Luxury Goods."

B) "Girl Scouts Organize Nationwide Cookie Sale."

C) "L'eggs Sells Direct in Brazil and Argentina."

D) "Frito-Lay Offers New Low-Fat Products."

E) "Coke Losing Beverage Sales in India to local brands."

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109. In advanced economies:

A) both supply and demand tend to be heterogeneous.

B) producers and consumers are often separated in several ways.

C) exchange is hampered by discrepancies of quantity and assortment.

D) All of the above are true.

E) None of the above is true.

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

A) separation in time.

B) separation in values.

C) spatial separation.

D) separation of information.

E) All of the above.

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

A) the need for marketing specialists.

B) separation of information.

C) spatial separation.

D) discrepancies of assortment.

E) separation of values.

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112. The fact that producers usually prefer to produce products in large quantities, while most consumers prefer to buy in small quantities, results in:

A) discrepancies of quantity.

B) separation of ownership.

C) discrepancies of assortment.

D) spatial separation.

E) temporal separation.

113. In a simple economy, one family may produce only cooking pots, but many of them. Others may specialize in farming, making clothing, and building shelters. This

A) shows why "discrepancies of assortment" occur.

B) is so simple that the universal functions of marketing don't have to be done.

C) cannot work without a middleman.

D) is an example of "separation in values" since the different families choose to produce different things.

E) All of the above are true.

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114. "Economies of scale" means that:

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

B) the more producers there are in an economy the greater the need for intermediaries.

C) larger countries enjoy more economic growth than smaller countries.

D) as a company produces larger numbers of a particular product, the total cost of producing these products goes down.

E) All of the above are true.

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

A) discrepancies of quantity.

B) exchange efficiency.

C) economies of scale.

D) macro-marketing.

E) discrepancies of assortment.

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116. The term "economies of scale" means that:

A) The largest producers are always the most efficient.

B) The cost of a product goes down as a company produces larger numbers of it.

C) The more one produces, the greater the profit.

D) It is more efficient for an economy to have a large number of transactions.

E) None of the above.

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117. The "universal functions of marketing" do NOT include:

A) financing and risk taking.

B) standardization and grading.

C) producing.

D) transporting and storing.

E) buying and selling.

118. The "universal functions of marketing":

A) must be performed in all MACRO-marketing systems.

B) are performed differently in different economies.

C) are performed by different parties in different economies.

D) are needed to help overcome various separations and discrepancies.

E) All of the above are true.

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119. The "universal functions of marketing":

A) can be eliminated in advanced MACRO-marketing systems.

B) are performed differently and by different parties in different economies.

C) are never performed by consumers.

D) create various separations and discrepancies between producers and consumers.

E) All of the above are true.

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120. 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?

A) Financing and risk taking

B) Buying, transporting, and storing

C) Market information

D) All of the above

E) None of the above--only producers and intermediaries perform marketing functions.

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