marketing questiong

7/28/2019 marketing questiong

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This activity contains 10 questions.

The most basic concept underlying marketing is that of__________.

Customer satisfaction

Needs

Products

Wants

Wants can become demands if they are backed by __________.

Buying power

Consumer research

Products

Needs

What is 'marketing myopia'?

A short-range view that focuses on current wants and loses sight ofunderlying customer needs

Product, price, promotion, and distribution

Total Quality Control

Value, satisfaction, and quality

Why is the concept of exchange central to an appropriate definitionof marketing?

Exchange is the only way to get things.
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2/102

Transactions require the exchange of money.

Exchange allows a society to produce much more than it would with anyother system.

Exchange is not central to a definition of marketing.

What is a marketing network (system)?

Channels of distribution

The company and its actual or potential customers

Exchanges

A company and all its supporting stakeholders.

The statement that 'it costs five times as much to attract a newcustomer as it does to keep an old customer', means that firms

should do what?Advertise more

Demarket

Build lasting customer relationships

Provide quality products

What do we call the process of determining target customers'needs and delivering desired satisfactions more effectively and

efficiently than competitors do?

The marketing concept

The selling concept

The product concept

The production concept
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3/102

There are five alternative concepts under which organisationsconduct their marketing activities. Which of the following is NOTone of those marketing philosophies?

Profitability concept

Production concept

Selling concept

Societal marketing concept

If a company is customer-focused and adopts a marketing conceptorientation, the first sign of customer dissatisfaction would befollowed by __________.

Increasing marketing expenditures

Reducing marketing expenditures

Changing advertising messages

Customer analysis and feedback and/or product revisions

Which of the following is NOT a marketing

challenge of the 21st century?

Convergence of telecommunications, media and

information systems

Taking responsibility for the social andenvironmental impact of companies' actions

Shrinking of geographic and cultural distances

None of the above

1.

The most basic concept underlying

marketing is that of __________.

Your Answer: Customersatisfaction

Correct Answer: Needs

Incorrect. This is a much more complex concept that relates to

satisfying customer wants better than other providers (p. 8).
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2. Wants can become demands if they are backed by __________.

Your Answer: Consumer research

Correct Answer: Buying power

Incorrect. Firms conduct research about consumers to determine howbest to meet customer demands (p. 8).

3. What is 'marketing myopia'?

Your Answer: Value, satisfaction, and qualityCorrect Answer: A short-range view that focuses on current wants

and loses sight of underlying customer needs

Incorrect. A firm strives to provide these in order to create and keep

loyal customers (p. 9).

4. Why is the concept of exchange central to an appropriate definition ofmarketing?

Your Answer: Transactions require the exchange of money.Correct Answer: Exchange allows a society to produce much more

than it would with any other system.

Incorrect. Barter is an exchange that does not require money (pp. 10--11).

5. What is a marketing network (system)?

Your Answer: The company and its actual or potential customersCorrect Answer: A company and all its supporting stakeholders.

Incorrect. This is the definition of markets, which is only onecomponent of the correct answer (p. 14--5).

6. The statement that 'it costs five times as much to attract a newcustomer as it does to keep an old customer', means that firms shoulddo what?

Your Answer: Advertise moreCorrect Answer: Build lasting customer relationships

Incorrect. Advertising is one reason that it costs five times as much toget a new customer (p. 16).


5/102

7. What do we call the process of determining target customers' needsand delivering desired satisfactions more effectively and efficiently thancompetitors do?

Your Answer: The marketing concept

Correct. The other philosophies focus only on components of fullysatisfying customers (pp. 20--1).

8. There are five alternative concepts under which organisations conducttheir marketing activities. Which of the following is NOT one of thosemarketing philosophies?

Your Answer: Profitability concept

Correct. See page 18 for detailed explanation.

9. If a company is customer-focused and adopts a marketing conceptorientation, the first sign of customer dissatisfaction would be followedby __________.

Your Answer: Increasing marketing expendituresCorrect Answer: Customer analysis and feedback and/or product

revisions

Incorrect. 'Customer-focused' implies that the organisation would listento its customers and make necessary strategic changes (pp. 18--22).

10. Which of the following is NOT a marketing challenge of the21st century?

Your Answer: Shrinking of geographic and cultural distancesCorrect Answer: None of the above

The two goals of marketing are attracting new

customers and keeping current ones.

True

False

Marketing is a job that should be handled strictly by the marketing

department. Accountants, managers and financial advisors shouldconcentrate on their own jobs.

True
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6/102

False

The main elements of marketing are advertising and selling.

True

False

Only physical, tangible goods can be called products.

True

False

Customers often judge products based on perceived values.

True

False

If there is a difference between what a customer expects and whatthe customer receives, then there is customer satisfaction.

True

False

Henry Ford promised his customers a car of any colour as long as itwas black. His philosophy was producing the Model T car which

would be affordable to his customers. This is an example of themarketing concept.

True

False
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7/102

Non-profit organisations do not use marketing.

True

False

The marketing challenges that companies in the twenty-firstcentury will face will also provide opportunities.

True

False

The ethical and environmental movements have reached theirmaximum impact and will not place stricter demands on companiesin the future.

True

Fals

1. The two goals of marketing are attracting new customers and keeping current

ones.

Your Answer: True

Correct (p. 5).

2. Marketing is a job that should be handled strictly by the marketingdepartment. Accountants, managers and financial advisors shouldconcentrate on their own jobs.

Your Answer: False

Correct. Well done (p. 5).

3. The main elements of marketing are advertising and selling.

Your Answer: True

Correct Answer: False

Incorrect. This is a common misperception, but these are only two of the fourelements which make up marketing: product, promotion (of which advertising
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and selling are just two components), price, and distribution (pp. 7--8).

4. Only physical, tangible goods can be called products.

Your Answer: False

Correct (p. 8).

5. Customers often judge products based on perceived values.

Your Answer: True

Correct (p. 9).

6. If there is a difference between what a customer expects and what thecustomer receives, then there is customer satisfaction.

Your Answer: False

Correct. Well done! (p. 9)

7. Henry Ford promised his customers a car of any colour as long as it wasblack. His philosophy was producing the Model T car which would beaffordable to his customers. This is an example of the marketing concept.

Your Answer: True

Correct Answer: False

Incorrect. It is an example of the production concept (p. 18).

8.Non-profit organisations do not use marketing.

Your Answer: False

Correct (pp. 22--3).

9. The marketing challenges that companies in the twenty-first century will facewill also provide opportunities.

Your Answer: (blank)


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10. The ethical and environmental movements have reached their maximumimpact and will not place stricter demands on companies in the future.

Your Answer: (blank)

///////

Customer satisfaction

his activity contains 10 questions.

Customer delivered value is the total of product, services,personnel and image values received from a marketing offer.

True

False

If a product's performance matches the customer's expectations ofthe product, the customer is highly satisfied.

True

False

Mystery shopping is a term used to describe customers who haveno specific product they want to buy but are browsing forsomething.

True

False

Customer satisfaction ratings are not always an accurate, objective

and unbiased measurement of customer satisfaction with anorganisation.

True

False

Research shows that it may cost five times as much to keep acurrent customer happy as to attract a new customer.

True
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