1. Which of the following components of the marketing mix concerns decisions about packaging and branding?
- Promotion
- Price
- Product
- Place
- Profit
2. Which of the following concerns how the whole marketing system works?
- Micro-marketing
- Functional-level strategy
- Business-level strategy
- Strategic planning
- Macro-marketing
3. One of the advantages of a market-directed economic system is that it:
- results in monopolistic markets.
- operates automatically.
- can be controlled by marketers.
- leads to social inequality.
- operates according to government regulations.
4. In a marketing plan, the nature of demand and marginal analysis are a part of the _____ component of the marketing mix.
- product
- production
- place
- price
- promotion
5. By developing and implementing more effective marketing strategies, a marketing manager can:
- All of these alternatives are correct.
- provide more consumer satisfaction.
- reduce the costs of wasted effort by a firm.
- improve the profits of a firm.
- contribute to the effectiveness of the macro-marketing system.
6. Which of the following should NOT be included in a marketing plan?
- All of these should be included in a marketing plan.
- Product class.
- Marketing plan objectives.
- A company analysis section.
- Reasons for the marketing strategy decisions.
7. Which of the following statements about marketing accurately reflects the text's point of view?
- Micro-marketing never costs too much.
- Macro-marketing does not cost too much.
- Marketing is not needed in all modern economies.
- Macro-marketing does cost too much.
- Micro-marketing always costs too much
8. In which of the following types of economies will the forces of competition help speed the diffusion of marketing advances to consumers everywhere?
- Cost-directed economy
- Production-oriented economy
- Command economy
- Market-directed economy
- Internally-oriented economy
9. Which of the following is NOT an indicator that macro-marketing does not cost too much?
- Products improve the quality of life.
- Advertising wastes resources.
- Micro-marketing efforts help to grow the economy.
- Marketing reflects our values.
- Companies fail to adapt to changing customer needs.
10. Denton Corp. spent millions of dollars manufacturing, advertising, and campaigning for their new brand of cranberry-flavored soft drink. However, consumers did not like the drink and sales quickly plummeted. Finally, the product was declared a failure and discontinued. This illustrates that:
- micro-marketing often does cost too much.
- a macro-marketing system leads to monopolistic markets.
- a micro-marketing system encourages fair trade.
- advertising can lower the price of a product.
- macro-marketing often does cost too much.
11. The future poses many challenges for marketing managers because:
- it marketing managers who have full responsibility to preserve our macro-marketing system.
- ultimately it is marketing managers who must determine which products are in the best interests of consumers.
- the marketing concept has become obsolete.
- social responsibility applies only to firms-not to consumers.
- new technologies are making it easier to abuse consumers' rights to privacy.
12. Consumer satisfaction:
- is totally unrelated to company profits.
- is hard to define.
- is the basic objective of all economic systems.
- depends on one's own expectations and aspirations.
- is easier to measure at the macro-level than at the micro-level.
13. The text concludes that:
- marketing makes people buy things they don't need.
- advertising is a poor use of resources.
- marketing's job is just to satisfy the consumer wants which exist at any point in time.
- marketing makes people materialistic.
- advertising can actually result in lower prices to the consumer.
14. Micro-marketing may cost too much because:
- prices are frequently set on a cost-plus basis.
- firms fail to identify new target markets.
- All of these are reasons why micro-marketing may cost too much.
- promotion is sometimes seen as a substitute for product quality.
- firms frequently develop "me-too" products.
15. An objective of our macro-marketing system should be to:
- continually seek more satisfying solutions to consumer problems.
- eliminate materialism.
- eliminate monopolistic competition.
- eliminate advertising, which will lower prices.
- satisfy only the minimum material requirements of life.
16. Which of the following concern(s) the marketing activities of an individual firm?
- Macro-marketing
- Collectivist cultures
- Command economic systems
- Micro-marketing
- Production-oriented marketing
17. A software company develops a software product that customers like, but high prices and inadequate distribution cause the product to fail. This is an example of which of the following causes of marketing inefficiency.
- Emphasis on innovative thinking.
- Improper blending of the four Ps.
- Preference for a market-orientation rather than a production-orientation.
- Lack of interest in or understanding of the fickle customer.
- Inability of firms to identify new target markets and new opportunities.
18. Among the challenges facing marketing, which of the following reflects advice offered by the textbook?
- International competition can generally be ignored.
- The government and not companies should be concerned about the environment.
- Recognize that most markets change very slowly.
- Short-run consumer welfare should be the focus.
- Marketing managers frequently evaluate and adapt marketing strategies.
19. Developing a "marketing plan:"
- involves nothing more than assembling the four Ps better than your competitors.
- includes no time-related details because the plan is frequently changing.
- Provides a blueprint for implementation.
- means selecting a target market and developing a marketing mix.
- is easy-and profits are virtually guaranteed-provided that a firm fully understands the needs and attitudes of its target market.
20. Which of the following sections of the marketing plan includes a description of how the four Ps fit together?
- Customer analysis
- Marketing plan objectives
- Analysis of the market context
- Overview of the marketing strategy
- Competitor analysis