In its simplest form, marketing may be defined as a/an _____ between a buyer and a seller.

Choose one answer.

	a. conflict
	b. conversation
	c. exchange
	d. transformation

Question 2

What are two benefits of marketing to society?

Choose one answer.

	a. Marketing encourages austerity and leads to economic sanctions.
	b. Marketing redistributes community wealth and makes all people equal.
	c. Marketing facilitates trade and creates jobs.
	d. Marketing improves people's lives and lets companies get rich.

Question 3

Creating offerings is part of which of the traditional components of the marketing mix?

Choose one answer.

	a. Product
	b. Promotion
	c. Price
	d. Placement

Question 4

Advertising and personal selling are part of which of the traditional components of the marketing mix?

Choose one answer.

	a. Product
	b. Promotion
	c. Price
	d. Placement

Question 5

Developing an offering to a point at which the customer can purchase it describes which of the traditional components of the marketing mix?

Choose one answer.

	a. Product
	b. Promotion
	c. Price
	d. Placement

Question 6

The monetary amount charged for a product describes which of the traditional components of the marketing mix?

Choose one answer.

	a. Product
	b. Promotion
	c. Price
	d. Placement

Question 7

Viewing marketing from the customer's point of view, the benefits of an offering are known as _____.

Choose one answer.

	a. customer value
	b. cost to the customer
	c. convenience for the buyer
	d. communication

Question 8

Viewing marketing from the customer's point of view, _____ refers to the costs paid for an offering as well as the time and money spent traveling to a store or paying a shipping fee for a product bought online.

Choose one answer.

	a. customer value
	b. cost to the customer
	c. convenience for the buyer
	d. communication

Question 9

Viewing marketing from the customer's point of view, _____ is most closely associated with the traditional marketing component of place and considers the ease with which customers can find information about offerings and make purchases.

Choose one answer.

	a. customer value
	b. cost to the customer
	c. convenience for the buyer
	d. communication

Question 10

Viewing marketing from the customer's point of view, the traditional marketing component of promotion is focused on _____.

Choose one answer.

	a. customer value
	b. cost to the customer
	c. convenience for the buyer
	d. communication

Question 11

Which of the statements below does not describe a benefit of strategic planning?

Choose one answer.

	a. Strategic planning takes into account a company's internal conditions.
	b. Strategic planning takes into account external factors that affect the success of a company.
	c. Strategic planning takes into account short-term and long-term tactics for business success.
	d. Strategic planning is short-sighted and encourages executives to make decisions based on gut responses to crises.

Question 12

Which of the components below is not a consideration in a strategic plan?

Choose one answer.

	a. Value proposition
	b. Target markets
	c. Company competition
	d. Executive compensation

Question 13

Which of the sets of components below contains demographic data that is commonly used to develop a customer profile?

Choose one answer.

	a. Holidays, religions, and hairstyles
	b. Generations, occupations, and genders
	c. States, cities, and climates
	d. Hobbies, values, opinions, and attitudes

Question 14

Which of the sets of components below contains psychographic data that is commonly used to develop a customer profile?

Choose one answer.

	a. Holidays, religions, and hairstyles
	b. Generations, occupations, and genders
	c. States, cities, and climates
	d. Hobbies, values, opinions, and attitudes

Question 15

Which of the sets of components below contains geographic data that is commonly used to develop a customer profile?

Choose one answer.

	a. Holidays, religions, and hairstyles
	b. Generations, occupations, and genders
	c. States, cities, and climates
	d. Hobbies, values, opinions, and attitudes

Question 16

Customer satisfaction is an important part of marketing because _____.

Choose one answer.

	a. satisfied customers stop buying a company's products.
	b. satisfied customers often tell friends and family not to purchase an offering.
	c. dissatisfied customers will continue to purchase the same product until it makes them happy.
	d. satisfied customers become ambassadors for a company's offerings and brand by sharing positive stories about offerings through personal communication.

Question 17

_____ is the amount of benefit a customer gets from an offering compared with its cost.

Choose one answer.

	a. Customer lifestyle
	b. Customer convenience
	c. Customer satisfaction
	d. Customer value

Question 18

_____ includes collecting, analyzing, and reporting marketing information that can be used to better plan strategies to help a company reach its financial goals.

Choose one answer.

	a. Marketing research
	b. Public relations
	c. Consumer behavior
	d. Benchmarketing

Question 19

Which of the following is NOT an example of how marketing research can benefit a company?

Choose one answer.

	a. Predicting the weather
	b. Developing product ideas and designs
	c. Evaluating packaging types
	d. Identifying market segments for a product

Question 20

_____ includes the study of markets and customers in order to understand what strategies or tactics might work best for companies to be successful.

Choose one answer.

	a. Marketing research
	b. Merchandising
	c. Sales
	d. Benchmarketing

Question 21

Coke and Pepsi both sell the same types of products to a similar target market, a fact that makes Coke and Pepsi _____.

Choose one answer.

	a. competition
	b. collaboration
	c. partnership
	d. publics

Question 22

_____ is the process by which organizations understand their current competitors as well as potential competitors that may arise in the future.

Choose one answer.

	a. Competition
	b. Competitive analysis
	c. Data analysis
	d. Competition relations

Question 23

_____ is the process of analyzing a company's potential consumers and breaking down this mass audience into smaller groups of potential buyers that share similar characteristics.

Choose one answer.

	a. Marketing
	b. Positioning
	c. Public relations
	d. Segmentation

Question 24

Segmentation requires marketers to distinguish their target market from their consumer population by analyzing which of the following?

Choose one answer.

	a. Demographics, geography, and psychographics
	b. Product, purpose, and distribution
	c. Branding and market share
	d. Positioning and public relations

Question 25

How are the concepts of marketing and advertising related to one another?

Choose one answer.

	a. Marketing is a subset of advertising.
	b. Marketing and advertising are two names for the same concept.
	c. Advertising is part of the promotions component of marketing.
	d. Advertising is rarely used in marketing campaigns today.

Question 26

How are the concepts of advertising and sales related to one another?

Choose one answer.

	a. Advertising and sales are two names for the same concept.
	b. Companies use advertising to educate customers and lead them toward the sales process.
	c. Sales is more important than advertising in the marketing mix.
	d. All of the above answers are correct.

Question 27

How are the concepts of marketing and sales related to one another?

Choose one answer.

	a. Marketing is a subset of sales.
	b. Marketing and sales are two names for the same concept.
	c. Sales is a concept unique to manufactured goods.
	d. Increases in sales often can be attributed to successful marketing strategies.

Question 28

_____ involves paying to communicate a message about a company or its offerings through a large distribution system such as mass media.

Choose one answer.

	a. Advertising
	b. Personal selling
	c. Public relations
	d. Sales promotions

Question 29

When a company employs _____ to promote its offerings, it typically uses incentives such as coupons, contests, games, and rebates in order to encourage customers to take action quickly, make large purchases, and/or repeat purchases.

Choose one answer.

	a. advertising
	b. personal selling
	c. public relations
	d. sales promotions

Question 30

_____ differs from other forms of promotions because a company is not paying for the attention it is receiving from mass media.

Choose one answer.

	a. Advertising
	b. Personal selling
	c. Publicity
	d. Sales promotions

Question 31

_____ is a promotional tactic in which a buyer and a seller interact, either face-to-face, by telephone, or by another telecommunication technology.

Choose one answer.

	a. Advertising
	b. Personal selling
	c. Public relations
	d. Sales promotions

Question 32

Which of the following forms of promotion involves delivering personalized promotional materials directly to individual consumers?

Choose one answer.

	a. Advertising
	b. Direct marketing
	c. Public relations
	d. Sales promotions

Question 33

Which of the following factors influences the selection of promotion elements?

Choose one answer.

	a. The available budget
	b. The target market
	c. Government regulations
	d. All of the above answers are correct.

Question 34

A consumer goods company is using a social media campaign to launch a new mobile device targeted toward college-age consumers. This tactic illustrates which concept that is considered when developing a promotions mix?

Choose one answer.

	a. Abiding by government regulations
	b. Researching competitors
	c. Considering the marketing budget
	d. Understanding consumer media preferences

Question 35

The use of postal mail is most closely associated with which form of promotions?

Choose one answer.

	a. Advertising
	b. Direct marketing
	c. Public relations
	d. Sales promotions

Question 36

Which of the following sets of components is an area of concern to marketers as they develop marketing messages in the promotional mix?

Choose one answer.

	a. Appeals, targeted demographics, tactics, and positioning
	b. Product, placement, price, and medium
	c. Sales, reputation, image, and public awareness
	d. Hooks, zingers, testimonials, and sales

Question 37

A company spends money on advertising in order to educate consumers about its offerings, often comparing its offerings with those of the competition in order to encourage sales. Which stage of the product life cycle does this scenario describe?

Choose one answer.

	a. Introduction stage
	b. Growth stage
	c. Maturity stage
	d. Decline stage

Question 38

Consider a scenario in which a company spends a sustained, often long period of time increasing sales through promotional strategies that are used to differentiate its product from the competition in order to maintain market share. Which stage of the product life cycle does this scenario describe?

Choose one answer.

	a. Introduction stage
	b. Growth stage
	c. Maturity stage
	d. Decline stage

Question 39

Consider a scenario in which sales of a product are beginning to wane due to new competition in the marketplace, and promotional strategies for this product are being reduced due to increasing costs. Which stage of the product life cycle does this scenario describe?

Choose one answer.

	a. Introduction stage
	b. Growth stage
	c. Maturity stage
	d. Decline stage

Question 40

In which stage of the product life cycle would marketing research be used to identify additional market segments for the product?

Choose one answer.

	a. Introduction stage
	b. Growth stage
	c. Maturity stage
	d. Decline stage

Question 41

In which stage of the product life cycle would marketing research be used to make pricing decisions?

Choose one answer.

	a. Introduction stage
	b. Growth stage
	c. Maturity stage
	d. Decline stage

Question 42

Which pricing strategy, often associated with the introduction stage of the product life cycle, would be used by a company to set a high initial price for a product in order to recoup its investment as quickly as possible?

Choose one answer.

	a. Leader pricing
	b. Penetration pricing
	c. Prestige pricing
	d. Skimming pricing strategy

Question 43

Using _____, a company assigns an intentionally higher price to an offering in order to give it a high-quality image.

Choose one answer.

	a. Leader pricing
	b. Penetration pricing
	c. Prestige pricing
	d. Skimming pricing strategy

Question 44

Using _____, a company prices one or more products intentionally low in order to get customers into the company's store/s.

Choose one answer.

	a. Leader pricing
	b. Penetration pricing
	c. Prestige pricing
	d. Skimming pricing strategy

Question 45

Which distribution strategy includes trying to sell a product in as many outlets as possible?

Choose one answer.

	a. Exclusive distribution
	b. Intensive distribution
	c. Micro distribution
	d. Selective distribution

Question 46

Which distribution strategy involves selling products at select outlets in specific locations?

Choose one answer.

	a. Exclusive distribution
	b. Intensive distribution
	c. Micro distribution
	d. Selective distribution

Question 47

Which distribution strategy involves selling products through a few prestigious outlets?

Choose one answer.

	a. Exclusive distribution
	b. Intensive distribution
	c. Micro distribution
	d. Selective distribution

Question 48

What is the specific avenue that a seller uses in order to get an offering to customers for purchase?

Choose one answer.

	a. Advertising and sales
	b. The marketing channel
	c. The marketing mix
	d. The promotional mix

Question 49

What is the name used for firms that actively promote and sell a product as it travels through a channel to buyers?

Choose one answer.

	a. Channel partners
	b. Channel products
	c. Channel services
	d. Channel distributors

Question 50

_____ obtain large quantities of products, then store them, then break them down into smaller units that are more convenient for stores to buy and sell.

Choose one answer.

	a. Distributors
	b. Producers
	c. Retailers
	d. Wholesalers

Question 51

_____ is the difference between what a customer gets from an offering and what a customer has to give in order to get the offering.

Choose one answer.

	a. Customer feedback
	b. Customer relations
	c. Customer satisfaction
	d. Customer value

Question 52

_____ is derived when a company delivers the product that it promised, at the time it was promised, and in the way it was promised.

Choose one answer.

	a. Customer empowerment
	b. Customer relations
	c. Customer satisfaction
	d. Customer value

Question 53

Market research is used to improve the relationship that customers have with a company, its brand, and its offerings. A company might also conduct _____ in an effort to learn customers' views about a competitor's products and services.

Choose one answer.

	a. competitive analysis
	b. mystery shopping
	c. product substitution
	d. marketing mixes

Question 54

Marketing professionals conduct research in order to understand loyal customer relationships. What two dimensions of customer loyalty are investigated by this research?

Choose one answer.

	a. Attitudinal and behavioral dimensions
	b. Product and price dimensions
	c. Internal and external dimensions
	d. Willpower and trust dimensions

Question 55

The central theme of _____ is customers' ability to take control of the marketing activities that are aimed toward them.

Choose one answer.

	a. customer empowerment
	b. customer relations
	c. customer satisfaction
	d. customer value

Question 56

_____ programs are marketing efforts designed to increase sales by rewarding a customer for frequent purchases and consumption of offerings.

Choose one answer.

	a. Customer empowerment
	b. Customer loyalty
	c. Customer satisfaction
	d. Customer value

Question 57

Successful _____ relies on creating feedback channels that are easy and widely available, asking for and encouraging feedback about products, and enabling customers to participate in the design of products.

Choose one answer.

	a. customer empowerment
	b. customer loyalty
	c. customer satisfaction
	d. customer value

Question 58

Evaluate the following scenario and choose the best answer from the options below. You work for a company that wants to achieve the following outcomes: increase the longevity of its customer relationships; block competitors' marketing efforts; encourage customers to buy related offerings; and accelerate customers' purchases. Which type of program would you create to satisfy the above expectations?

Choose one answer.

	a. Customer empowerment
	b. Customer loyalty
	c. Customer satisfaction
	d. Customer value

Question 59

Evaluate the following scenario and choose the best answer from the options below. Mary is telling her friend Jill about a weekend trip she took recently with her family. Mary excitedly talks about how the hotel upgraded her family's accommodations and treated them like royalty all weekend. Mary suggests that Jill try the hotel, adding that she plans to stay there again in the near future because the hotel exceeded her expectations. This scenario is an example of which of the following concepts?

Choose one answer.

	a. Customer empowerment
	b. Customer loyalty
	c. Customer satisfaction
	d. Customer value

Question 60

Evaluate the following scenario and choose the best answer from the options below. Joe is a risk-averse shopper. Recently he purchased a new computer from a local computer boutique, where he was given a written warranty and a purchase guarantee, along with five hours of free technical support. Joe is excited to tell his friends about his new purchase. This scenario is an example of which of the following concepts?

Choose one answer.

	a. Customer empowerment
	b. Customer loyalty
	c. Customer satisfaction
	d. Customer value