S302chapter1

Card Set Information

Author:
agreer75
ID:
5901
Filename:
S302chapter1
Updated:
2010-02-02 19:00:38
Tags:
chapter 1
Folders:

Description:
test prep
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user agreer75 on FreezingBlue Flashcards. What would you like to do?


  1. marketing is much more than selling or advertising.

    true or false?
    True
  2. Marketing is....
    involves an attempt to anticipate customer or client needs.
  3. 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.
    B
  4. 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.
    D
  5. Firms that specialize in providing marketing functions other than buying and selling are known as:

    A)suppliers.
    B)intermediaries.
    C)advisors.
    D)collaborators.
    E)agents.
    D
  6. Which of the following is a true statement?


    A)Since marketing is concerned with many thousands of different products, there is no one set of marketing functions that applies to all products.
    B)Responsibility for performing marketing functions can be shifted and shared, but no function can be completely eliminated.
    C)From a micro viewpoint, every firm must perform all of the marketing functions.
    D)Marketing functions should be performed only by marketing intermediaries or collaborators.
    E)Many marketing functions are not necessary in market-directed economies.
    B
  7. A MACRO-marketing system should:

    A)provide everyone with the same goods and services.
    B)be part of market-directed economy, not a command economy.
    C)accomplish a particular society's objectives, whatever they are.
    D)all of the above are true.
    E)none of the above is true.
    C
  8. An economic system in which government officials determine production levels is known as:

    A)pure subsistence.
    B)macro-marketing.
    C)market-directed.
    D)production-oriented.
    E)command.
    E
  9. Which of the following is the BEST example of management thinking during the "production era"?

    A)"We need to make whatever products are easy to produce."
    B)"We need to find out what the customer wants."
    C)"The more salespeople we have, the more we can sell."
    D)"We need to work hard to sell the product to our customers."
    E)"If we produce a good product, customers will find us and buy it."
    E
  10. The owner of a company that produces electronic circuit boards sees many competitors with extra capacity and says the "only hope is that our sales manager, who makes all of our marketing decisions, will find a way to sell more boards." It seems that this company is run as if it were in the:

    A)production era.
    B)sales era.
    C)excess capacity era.
    D)marketing company era.
    E)marketing department era.
    B
  11. Based on the following company statements, which company is most likely to be in the marketing company era?

    A)"Our sales force was able to sell intermediaries more of our new product than they can resell in all of this year."
    B)"Our marketing manager is coordinating pricing, product decisions, promotion and distribution to help us show a profit at the end of this year."
    C)"The whole company is in good shape—demand exceeds what we can produce."
    D)"Our long range plan—developed by our marketing manager—is to expand so that we can profitably meet the long-term needs of our customers."
    E)"Our new President previously led our marketing effort as Vice President of Sales."
    D
  12. The difference between "production orientation" and "marketing orientation" is best explained as follows:

    A)there are no separate functional departments in a marketing-oriented firm.
    B)in a marketing-oriented firm, the total system's effort is guided by what individual departments would like to do.
    C)production-oriented firms usually do not have a marketing manager.
    D)in a marketing-oriented firm, every department's activities are guided by what customers need and what the firm can deliver at a profit.
    E)all major decisions are based on extensive marketing research studies in marketing-oriented firms.
    D
  13. The "marketing concept" says that a business firm should:


    A)Aim all its efforts at meeting society's needs—regardless of profitability.
    B)Aim all its efforts at satisfying its customers—at a profit.
    C)Sell those products which it can make at lowest cost.
    D)Place heavy emphasis on developing new products.
    E)Treat advertising and selling as its priority.
    B
  14. Which of the following best explains what the "marketing concept" means?

    A)Firms should spend more money on marketing than they have in the past.
    B)A firm's main emphasis should be on the efficient utilization of its resources.
    C)All of a firm's activities and resources should be organized to satisfy the needs of its customers—at a profit.
    D)A company's chief executive should previously have been a marketing manager.
    E)A firm should always attempt to give customers what they need regardless of the cost involved.
    C
  15. A firm with a marketing orientation is MOST likely to

    A)view advertising as an unnecessary expense.
    B)recognize that effective advertising is the key to sales.
    C)advertise how a product meets customers' needs.
    D)focus advertising on product features.
    E)not use any advertising.
    C
  16. Which of the following statements about customer value is true?

    A)Customer value is the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits.
    B)The greater the competition, the less important customer value is.
    C)The sure way to achieve high customer value is to offer a lower price.
    D)It is the manager's view of customer value that matters, not the customer's.
    E)None of the above is true.
    A
  17. Which of the following statements about nonprofits is false?

    A)Marketing is being more widely accepted by nonprofit organizations.
    B)The marketing concept is as important for nonprofit organizations as it is for business firms.
    C)In nonprofit organizations as in business firms, support comes from satisfied customers.
    D)A nonprofit organization does not measure profit in the same way as a firm.
    E)The marketing concept provides focus in both business firms and nonprofit organizations.
    C
  18. The term "micro-macro dilemma" means that:

    A)most people are both producers and consumers.
    B)marketing people cannot agree on whether marketing should be viewed as activities or as a social process.
    C)macro-marketing is just a small part of a larger micro-marketing system.
    D)the micro view of marketing is concerned with the flow of goods and services from producers to consumers—while the macro view is not.
    E)what is "good" for some producers and consumers may not be good for society as a whole.
    E
  19. Which of the following is NOT an example of the micro-macro dilemma?

    A)Having a dog or cat can teach a child responsibility, but add expenses to the family budget.
    B)Some people like to smoke cigarettes, but the smell annoys many others.
    C)Aluminum soft-drink cans are convenient, but expensive to pick up along the highway.
    D)Nuclear power may reduce your fuel bill, but worry others.
    E)Driving fast can be fun, but is hazardous to other people.
    A
  20. A marketing manager made a speech in which he described his organization as having "really embraced the marketing concept over ten years ago." A critic in the audience argued that the manager didn't understand the "socially conscious" view of the marketing concept. Given the critic's argument, the marketing manager may work for:

    A)a fruit processor.
    B)the public library.
    C)a firm that recycles aluminum cans.
    D)a soap producer.
    E)a motorcycle producer.
    E
  21. Which of the following criticisms focuses most directly on a macro view of marketing, rather than a micro view?

    A)Products often wear out right after the warranty expires.
    B)Much TV advertising is annoying.
    C)Marketing exploits the poor and the uneducated.
    D)Prices for very similar products vary a lot from store to store.
    E)Door-to-door salespeople are trained to be pushy.
    C
  22. List the 5 Utilities; Utility is value that comes from satisfying human needs
    • -Form
    • -Task
    • -Time
    • -Place
    • -Possesion
  23. List the eight (8) universal functions of marketing
    • -Buying
    • -Selling
    • -Storing
    • -Financing
    • -Standardization and Grading
    • -Risk taking
    • -Transpoting
  24. thru specialization, marketing ___________, and ___________ can perform marketing functions better and at a lower cost vs the consumer or producer.
    middlemen & facilitators
  25. Who can perform the marketing functions? (hint there are 4 main groups)
    • -consumers
    • -producers
    • -marketing specialist(middlemen)
    • -facilitators(advertising agencies, banks, etc.)
  26. Effective marketing in general means......
    delivering the goods/services consumers want and need
  27. Effective marketing in more specifically means....(hint 5 main ideas)
    • -informing them of product/service benefits and where they can get it.
    • -getting the right products to them
    • -at the right time
    • -in the right place
    • -and finally at a price that they are willing and able to pay
  28. Macro-marketing - a social process that directs an economy's flow goods and services from producers and consumers that effectively:
    1)
    2)
    • 1) matches supply and demand
    • 2) accomplishes society's objectives
  29. Definition of a "Market"
    a group of sellers and buyers who are willing and able to exchange goods/services for something of perceived value.
  30. the 5 era's of marketing are? and describe them.
    • - simple trade era - producers sold surplus to local distributors, than the distributors (specialist) resold the goods to other consumers or distributors.
    • - production era - "if we make it, they will buy it"
    • - sales era- company emphasizes selling because of increased competition
    • - marketing department era - all marketing activities are brought under one department to improve short-run policy planning.
    • - marketing company era - long term range plans 5 or more years and the whole company is guided by the marketing concept.
  31. 5 separations and 2 discrepancies between producers and consumers
    • separations
    • - spatial (geographically products may be produced in one place while consumed elsewhere)
    • - Time (consumers may only want to consume some items when they want to ie; christmas trees)
    • - Information (producers lack real time info on consumers, consumers may not realize that something is available to them)
    • - values (producers value goods and services relative to costs and competition, consumers value items in terms of meeting their needs and ability to pay)
    • - ownership (producers hold title to goods and services that they themselves don't want to consume. Consumers want goods and services that they do not own)

    • Discrepancies:
    • - quantity
    • -assortment

What would you like to do?

Home > Flashcards > Print Preview