238 test bank for basic marketing a marketing strategy planning approach 18th edition by perreault

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238 Test Bank for Basic Marketing A Marketing Strategy Planning Approach 18th Edition by Perreault

Multiple Choice Questions - Page 1

An intermediary:

1 A is a wholesaler not a retailer

2 B usually increases the number of transactions required

3 C tends to make the exchange process more difficult and costly

4 D is someone who specializes in trade rather than production

5 E none of the above

"Economies of scale" means that:

1 A as a company produces larger numbers of a particular product, the cost of each unit of the product goes down

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

3 C larger countries enjoy more economic growth than smaller countries

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

5 E All of the above are true

The term "economies of scale" means that:

1 A The largest producers are always the most efficient

2 B The cost of a product goes down as a company produces larger numbers

of it

3 C The more one produces, the greater the profit

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

5 E None of the above

A large advertising agency is planning a national promotion to

introduce a new type of MP3 player Which of the universal

functions of marketing is it performing?

1 A Risk-taking

2 B Financing

3 C Buying.

4 D Selling

5 E None of the above

Collaborators

1 A specialize in trade rather than production

2 B usually have a production orientation

3 C emerged in the marketing company era

4 D are only used in a command economy

5 E facilitate or provide one or more of the marketing functions other than buying or selling

Amazon.com and eBay.com are both considered

1 A better than producers or consumers can perform them

2 B which leaves producers and consumers more time for production and consumption

3 C at a low cost because of specialization, economies of scale, or commerce

e-4 D all of the above are true

5 E none of the above are true

Which of the following statements about the "universal functions of marketing" is False?

1 A These functions do not have to be performed in all macro-marketing systems

2 B How the functions are performed may differ among nations and economic systems

3 C Who performs the functions may differ among nations and economic systems

4 D These functions help to overcome discrepancies of quantity and

assortment

5 E None of the above

Which of the following is LEAST likely to be classified as a

marketing collaborator?

1 A United Parcel Service (UPS)

2 B Public Warehouse Corporation

3 C Broadband Communications Company

4 D MeadowView Aluminum Company

5 E Product Safety Testing Laboratories, Inc

involve(s) sorting products according to size and quality

1 A Transporting and storing

Firms that specialize in providing marketing functions other than buying and selling are known as:

2 B promoting the product

3 C looking for and evaluating goods and services

4 D the use of personal selling

5 E sorting products according to size and quality

Considering the universal functions of marketing,

1 A they may not be required in all macro-marketing systems

2 B not every firm must perform all of the marketing functions

3 C all goods and services require all the functions at every level of their production

4 D all of the above are true

5 E none of the above is true

Concerning the "universal functions of marketing," which of the following statements is FALSE?

1 A These functions can be performed by producers, intermediaries,

collaborators, or consumers

2 B Responsibility for performing these functions can be shared and shifted

3 C From a micro viewpoint, not every company must perform every function

4 D From a macro viewpoint, all these functions must be performed by someone

5 E None of the above is false

The "universal functions of marketing" can be performed by:

1 A producers

2 B intermediaries and collaborators.

3 C consumers

4 D All of the above

5 E Only A and C above

Discrepancies of assortment happen when

1 A producers prefer to produce and sell in large numbers, but consumers prefer to buy and consume in smaller numbers

2 B consumers may not want to consume goods and services at the time producers would prefer to produce them

3 C consumers value goods and services in terms of costs and competitive prices whereas producers value them in terms of satisfying needs and ability topay

4 D producers specialize in producing a narrow range of goods and services but consumers need a wide variety

5 E producers hold title to goods and services that they themselves do not want

to consume

The "universal functions of marketing":

1 A are usually performed in the same way and by the same types of

institutions in all MACRO-marketing systems

2 B can sometimes be eliminated in very efficient macro-marketing systems

3 C must be performed in both market-directed and command economies

4 D must all be performed by every firm from a MICRO view

5 E All of the above are true

The universal functions of marketing include buying, selling,

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

The standardization and grading function of marketing involves:

1 A Looking for and evaluating goods and services

2 B Providing necessary cash and credit

3 C Promoting the product

4 D Sorting products according to size and quality

5 E None of the above

Market research firm BestOne sells reports about competitors, products, and other areas to various clients in the software industry BestOne performs which universal marketing function:

The standardization and grading function of marketing involves:

1 A promoting goods and services

2 B collection, analysis, and distribution of marketing information

3 C sorting products according to size and quality

4 D looking for and evaluating goods and services

5 E movement of goods from one place to another

Which of the following is a true statement?

1 A Since marketing is concerned with many thousands of different products, there is no one set of marketing functions that applies to all products

2 B Responsibility for performing marketing functions can be shifted and

shared, but no function can be completely eliminated

3 C From a micro viewpoint, every firm must perform all of the marketing functions

4 D Marketing functions should be performed only by marketing intermediaries

or collaborators

5 E Many marketing functions are not necessary in market-directed economies

The "universal functions of marketing":

1 A can be eliminated in advanced MACRO-marketing systems

2 B are performed differently and by different parties in different economies

3 C are never performed by consumers

4 D create various separations and discrepancies between producers and consumers

5 E All of the above are true

In macro-marketing

1 A no universal marketing function can be completely eliminated

2 B the objectives of the individual firm, rather than society, are most important

3 C functions should not be shifted or shared

4 D intermediaries are unnecessary

5 E the emphasis is on the activities of individual organizations

Which of the following is LEAST likely to be classified as a

marketing collaborator?

1 A Mayflower Transport Company

2 B Internet Advertising, Inc

3 C Wachovia Bank

4 D Market Survey Research, Inc

5 E Quality Coatings Company

Which of the following is NOT true about intermediaries?

1 A They save time for other participants in a transaction

2 B They always increase total expenses for a product

3 C They specialize in trade rather than production

4 D All of the above

5 E None of the above.

The "universal functions of marketing" do NOT include:

1 A financing and risk taking

2 B standardization and grading

3 C producing

4 D transporting and storing

5 E buying and selling

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?

1 A Financing and risk taking

2 B Buying, transporting, and storing

3 C Market information

4 D All of the above

5 E None of the above only producers and intermediaries perform marketing functions

Which of the following types of firms are collaborators?

1 A Marketing research firms

2 B Overnight delivery firms

3 C Advertising agencies

4 D Product-testing labs

5 E All of the above

Firms that specialize in providing marketing functions other than buying or selling are known as:

_ refers to producers holding title to goods and services that they themselves do not want to consume and consumers wanting goods and services that they do not have

The universal functions of marketing

1 A are not all needed in market-directed economies

2 B are not all needed in command economies

3 C can be performed by producers, consumers, and a variety of marketing specialists

4 D All of the above are true

5 E None of the above is true

The "universal functions of marketing":

1 A must be performed in all MACRO-marketing systems

2 B are performed differently in different economies

3 C are performed by different parties in different economies

4 D are needed to help overcome various separations and discrepancies

5 E All of the above are true

The advantages of working with an intermediary usually increase when there is

1 A difficulty communicating with customers

2 B a greater number of customers.

3 C greater distance between customers

4 D a larger number of competing products

5 E all of the above

238 Free Test Bank for Basic Marketing A Marketing Strategy Planning Approach 18th Edition by Perreault Multiple Choice Questions - Page 2

Which of the following must occur for marketing to happen?

2 B exchange is simplified by discrepancies of quantity and assortment

3 C there is little need for marketing specialists

4 D both supply and demand tend to be homogeneous in nature

5 E producers and consumers experience a separation of values

In a pure subsistence economy,

1 A each family unit is self-sufficient

2 B exchanges are not important

3 C there is no need for intermediaries

4 D All of the above are true

5 E None of the above is true

Looking at marketing as a social process focuses on

1 A macro-marketing

2 B for-profit marketing

5 E All of the above.

Which of the following statements about marketing is FALSE?

1 A Marketing affects the products you buy

2 B Marketing applies to nonprofit organizations too

3 C Marketing affects the advertising you see and hear

4 D Marketing offers many good job opportunities

5 E Marketing can help with individual transactions but not in building

relationships with customers

Marketing could NOT take place without:

1 A intermediaries

2 B collaborators

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

4 D a high standard of living

5 E all of the above

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

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

2 B "Russia Increases Output of Consumer Goods."

3 C "Pepsi Sells in Japan."

4 D "Bank of America Offers New Internet Banking Services."

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

The fact that US car companies are located in the upper Midwest while their customers are located throughout the U.S is an example of:

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

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

3 C "Drugstore Chain Aims at Seniors."

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

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

Societies need a macro-marketing system

1 A to help match supply and demand

2 B to create a gap between producers and consumers

3 C to accomplish an organization's objectives only

4 D to identify collaborators

5 E to reduce the need for intermediaries

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

1 A "Chinese Women Demand More Luxury Goods."

2 B "Girl Scouts Organize Nationwide Cookie Sale."

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

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

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

When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer, this is an example of:

1 A both supply and demand tend to be heterogeneous

2 B producers and consumers are often separated in several ways

3 C exchange is hampered by discrepancies of quantity and assortment

4 D All of the above are true

5 E None of the above is true

Macro-marketing

1 A emphasizes building a long-term relationship that benefits both the firm andthe customer

2 B considers the marketing activities of corporations rather than individuals

3 C emphasizes how the whole marketing system works

4 D systems are only relevant to advanced economies

5 E addresses discrepancies that emerge from homogeneous consumer demand

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

1 A a pure subsistence economy

2 B a market-directed economy

3 C a micro-marketing system

4 D a command economy

5 E none of the above

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

1 A the need for marketing specialists.

2 B collaborators are present to simplify exchange

3 C intermediaries are present to facilitate exchange

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

5 E an economy is market-directed rather than command

Macro-marketing

1 A is a social process

2 B concerns the activities of individual managers

3 C is what people have in mind when they talk about marketing in everyday use

4 D helps consumers that need a narrow assortment of products

5 E applies only to nonprofit organizations

4 D focuses on the objectives of society

5 E All of the above are true statements

(p 8-9) Of the following headlines from the WALL STREET

JOURNAL, which is most likely to be about a MACRO-marketing topic?

1 A "Tupperware Has a New Strategy."

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

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

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

5 E "Dow Chemical Adds Shipping Safeguards."

Macro-marketing:

1 A tries to produce discrepancies of quantity and discrepancies of assortment

2 B focuses on the activities of individual organizations

3 C tries to effectively match supply and demand

4 D all of the above

5 E none of the above

Marketing is NOT needed in a economy

1 A consumer-oriented

2 B command

3 C pure subsistence

4 D market-directed

5 E none of the above

Which of the following statements is FALSE?

1 A Marketing is most important in a pure subsistence economy

2 B Marketing should provide direction for production, accounting, and financialactivities

3 C Marketing builds long-lasting relationships that benefit the selling firm

4 D Marketing doesn't occur unless two or more parties are willing to exchange something for something else

5 E Marketing anticipates customer needs

American supermarket chain, FoodMart, purchases cheese from five different manufacturers from around the world to assure its customers can choose among different types of cheeses at different prices FoodMart facilitates the macro-marketing system by helping

to address:

1 A spatial separation

2 B discrepancies of assortment

3 C separation of values

4 D all of the above.

5 E none of the above

Viewing marketing as a social process focuses on

1 A marketing by nonprofit organizations

2 B command economies

3 C macro-marketing

4 D micro-marketing

5 E none of the above

When consumers do not know where to buy a product or what it costs and the product's producer does not know where its target market is located, this is an example of:

clothing, and building shelters This

1 A shows why "discrepancies of assortment" occur

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

3 C cannot work without an intermediary

4 D is an example of "separation in values" since the different families choose

to produce different things

5 E All of the above are true

4 D assumes that the effectiveness and fairness of all macro-marketing systems must be evaluated in terms of the same social objectives.

5 E All of the above are true

MACRO-marketing:

1 A is a social process

2 B tries to overcome "discrepancies of quantity" and "discrepancies of

assortment."

3 C tries to effectively match supply and demand

4 D tries to overcome the many separations between producers and

consumers

5 E All of the above are true statements

MACRO-marketing:

1 A Emphasizes how the whole marketing system works

2 B Considers how marketing affects society, but not how society affects marketing

3 C Matches homogeneous supply and demand

4 D Is mainly concerned with the activities of individual organizations

5 E All of the above

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

1 A Macro-marketing

2 B The transporting function

3 C Micro-marketing

4 D Standardization and grading

5 E Social responsibility

238 Free Test Bank for Basic Marketing A Marketing Strategy Planning Approach 18th Edition by Perreault Multiple Choice Questions - Page 3

Marketing:

1 A is concerned with whether the whole system is fair and effective

2 B applies only to profit organizations

3 C consists only of personal selling and advertising

4 D is a social process

5 E tries to anticipate and satisfy customer needs and accomplish an

organization's objectives

Marketing can be viewed as:

1 A a set of activities performed by individual organizations

2 B relevant to both business and nonprofit organizations

3 C a social process

4 D all of the above are correct

5 E only A and B above

The text stresses that:

1 A advertising and selling are not really part of marketing

2 B marketing is nothing more than a set of business activities performed by individual firms

3 C marketing techniques have no application for nonprofit organizations

4 D marketing is a social process and a set of activities performed by

organizations

5 E a good product usually sells itself

According to the text, marketing means:

1 A much more than selling and advertising

2 B selling

3 C producing and selling

4 D advertising.

5 E selling and advertising

All of the following should be determined by the marketing

department of a firm EXCEPT:

1 A storing the product

2 B actually making the product

3 C advertising the product

4 D designing the packaging for the product

5 E setting the price of the product

In an advanced economy, marketing costs account for about _ cents of every consumer dollar

1 A begin with the production process

2 B make decisions about product design and packaging, prices or fees

3 C not need to coordinate with production, accounting, and financial activities

4 D provide input, but let production determine what goods and services are to

be developed

5 E focus on getting customers to make a final purchase

Looking at marketing as a set of activities focuses on

For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

1 A one of the universal functions of innovation

2 B a production activity

3 C an example of the micro-macro dilemma

4 D best left to intermediaries

5 E a part of marketing

Effective marketing should begin with

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

2 B potential customer needs

3 C a decision about what the firm can produce efficiently

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

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

From a micro view, marketing

1 A applies to large corporations but not to a new venture started by one person

2 B is an important social process

3 C emphasizes how the whole marketing system works

4 D is a set of activities performed by an individual organization to satisfy its customers

5 E directs an economy's flow of goods and services from producers to

consumers

According to the text, marketing means:

1 A making a good product that sells itself

2 B much more than selling and advertising

3 C selling and advertising

4 D producing goods and/or services

5 E doing whatever it takes to be able to offer consumers a "better mousetrap."

Which of the following statements about marketing is FALSE?

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

2 B Marketing offers many rewarding career opportunities

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

4 D Marketing affects almost every part of your daily life

5 E Marketing is vital for economic growth and development

is the extent to which a firm fulfills a

customer's needs, desires, and expectations

1 A Customer forecast

2 B Customer satisfaction

3 C Customer service

4 D Customer support

The aim of marketing is to

1 A help create a pure subsistence economy

2 B eliminate the need for exchanges

3 C persuade customers to buy the firm's product

4 D identify customers' needs and meet those needs so well that the product almost "sells itself."

5 E facilitate a single transaction

Which of the following is NOT a reason for you to study marketing?

1 A Marketing affects almost every aspect of daily life

2 B Marketing will be important to your job

3 C Marketing involves actually making the goods that people need

4 D Marketing affects innovation and consumers' standard of living

5 E Marketing plays a big part in economic growth and development

Which of the following statements by a U.S president best reflects

a MICRO view of marketing?

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

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

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

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

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

The production of a new mountain bike model includes which of the following activities?

1 A Determining how to get the new model to likely bike purchasers

2 B Actually making the new mountain bikes

3 C Predicting what types of bikes different types of bike riders will want

4 D All of the above

5 E None of the above

Customer satisfaction is the extent to which a firm fulfills a

consumer's:

1 A needs

2 B desires

3 C expectations

4 D only A and B above

5 E all of the above

Marketing

1 A applies to both profit and nonprofit organizations

2 B is another name for selling and advertising

3 C should pick up where the production process ends

4 D people should expect that the production department will determine what goods and services are to be developed

5 E all of the above are true

Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

Marketing

1 A affects almost every aspect of our daily lives

2 B offers many exciting and rewarding career opportunities

3 C focuses an organization on what it takes to satisfy customers

4 D all of the above

5 E none of the above

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

1 A North Korea unveils a new five-year production plan

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

3 C The American Red Cross seeks more blood donors

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

5 E None of the above is a good example

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

1 A applies to both profit and nonprofit organizations

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

3 C should begin as soon as goods are produced

4 D does away with the need for advertising

5 E All of the above are true

According to the text, marketing means:

1 A Distribution

2 B Making good products

3 C More than selling and advertising.

According to the text, marketing means:

1 A much more than just selling and advertising

1 A emphasizes mass selling over personal selling

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

3 C applies to both profit and nonprofit organizations

4 D concentrates on production, rather than advertising

5 E none of the above

Marketing:

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

2 B begins with the production process

3 C involves persuading customers to buy your product

4 D is a social process involving all producers, intermediaries, and consumers

5 E tries to make the whole economic system fair and effective

Which of the following statements best describes the modern view

of marketing?

1 A The job of marketing is to get rid of whatever the company is producing

2 B Marketing should take over production, accounting, and financial services within a firm

3 C Marketing is concerned with generating a single exchange between a firm and a customer

4 D Marketing begins with anticipating potential customer needs

5 E Production, not marketing, should determine what goods and services are

to be developed

Which of the following statements best describes the modern view

of marketing?

1 A Marketing is only necessary for profit-oriented firms

2 B Marketing consists mainly of advertising and personal selling

3 C Marketing anticipates customer needs

4 D Marketing begins as soon as products are produced

5 E Firms that don't rely on e-commerce should put more emphasis on

Marketing

1 A means "selling" or "advertising."

2 B provides direction for production

3 C involves actually making goods or performing services

4 D does not impact consumers' standard of living

5 E is the development and spread new ideas, goods, and services

According to the text:

1 A marketing is much more than selling or advertising

2 B the cost of marketing is about 25 percent of the consumer's dollar

3 C marketing affects every single aspect of your daily life

4 D marketing discourages research and innovation

5 E all of the above are true statements

Marketing:

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

2 B involves an attempt to anticipate customer or client needs

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

4 D includes activities such as accounting, production, and financial

management

5 E is the process of selling and distributing manufactured goods

An economic system in which government officials determine

production levels is known as:

Whether a macro-marketing system is fair or effective depends on

1 A goods and services being evenly distributed across the population

2 B discrepancies of quantity

3 C the emphasis given to military spending

4 D the marketing orientation of individual firms.

5 E the objectives of the society

The role of price in a market-directed economy is to:

1 A allocate resources and distribute income according to consumer

preferences

2 B serve as a rough measure of the social importance of consumer goods andservices

3 C coordinate the economic activity of many people and institutions

4 D serve as a rough measure of the value of resources used to produce goodsand services

5 E All of the above are true

Which of the following statements about economic systems is NOT true?

1 A Government has less of a role in market-directed economies than in

command economies

2 B A market-directed economy self-adjusts through producer and consumer choices

3 C Producers always make a profit in a market-directed system

4 D A command economy is more likely to work if the variety of goods and services is small

5 E Both market-directed and command economies need a macro-marketing system

In a market-directed economy:

1 A profit, survival, and growth are all guaranteed for producers

2 B consumers have little freedom of choice

3 C consumers decide what is to be produced and by whom through their dollarvotes

4 D prices usually do not change according to supply and demand

5 E only the needs of the majority are served

_ refers to the way an economy organizes to use scarce

resources to produce goods and services and distribute them for consumption by various people and groups in society

3 C Cost of labor and materials

4 D The number of producers

5 E Discrepancies of quantity

Which of the following statements about a market-directed

economic system is True?

1 A Consumers enjoy substantial freedom of choice

2 B Profit, growth and survival are guaranteed

3 C Government has no role

4 D There is very little interaction between producers and consumers

5 E All of the above

Concerning the "universal functions of marketing," it is true that:

1 A these functions must be performed in all MACRO-marketing systems

2 B these functions can be performed by producers or intermediaries but not

by consumers

3 C from a MICRO viewpoint, every firm must perform all of the functions

4 D responsibility for performing these functions can be shifted and and some functions can be completely eliminated to reduce costs

shared 5 E All of the above are true

The text discusses the evolution of business through five "eras." Which of the following is NOT one of these eras?

1 A Diversification era

2 B Sales era

3 C Production era

4 D Marketing company era

5 E Simple trade era

A MACRO-marketing system should:

1 A provide everyone with the same goods and services

2 B be part of market-directed economy, not a command economy

3 C accomplish a particular society's objectives, whatever they are

4 D all of the above are true

5 E none of the above is true

The text considers five "eras" of marketing evolution Which of the following shows the logical order in which these eras occur?

1 A Marketing department, production, sales, simple trade, marketing company

2 B Sales, production, marketing department, marketing company, simple trade

3 C Sales, simple trade, marketing company, production, marketing department

4 D Simple trade, production, sales, marketing company, marketing department

5 E Simple trade, production, sales, marketing department, marketing company

Price is a rough measure of

In a the individual decisions of the many producers and

consumers make the macro-level decisions for the whole economy

Consumers in a market-directed economy

1 A enjoy limited freedom of choice