Nova Southeastern University

MKT 5070

1)When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of         .

1. 1. deregulation
   2. reverse auctioning
   3. reintermediation
   4. disintermediation
   5. diversification

2. Disintermediation via the Internet has resulted in                                    .
   1. higher prices
   2. stronger brand loyalty
   3. greater emphasis on personal selling
   4. well-established brand names
   5. greater consumer buying power

3. Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.
   1. It has facilitated high-speed communication among employees.
   2. It has empowered consumers with easy access to information.
   3. It can be used as a powerful sales channel.
   4. It has facilitated mass marketing but not the sale of customized products.
   5. It enables marketers to use social media to advertise their products.

4. Kotler and Casoline suggested eight factors that marketers must keep in mind in order to deal with risk and uncertainty. Which of the following statements are they most likely to agree with when the environment is uncertain?
   1. Companies should be prepared to implement ad hoc strategies whenever required.
   2. Companies should push aggressively for the market share of their competitors.
   3. Companies should focus less on their core segments, and more on new target markets.
   4. Companies should not increase marketing budgets in times of uncertainty.
   5. Companies should focus and improve their marginal brands.

5. What are customer touch points?
   1. all aspects of the offering that directly affect consumer preferences
   2. all needs and wants of customers
   3. all direct or indirect interactions between the customer and the company
   4. all interactions between customers and competitors
   5. all factors that affect buying behavior

6. Which of the following holds that consumers prefer products that are widely available and inexpensive?
   1. the product concept
   2. the production concept
   3. the selling concept
   4. the performance concept
   5. the marketing concept

7. The                        concept holds that consumers will favor offerings with the best quality, performance, or innovative features.
   1. product
   2. marketing
   3. production
   4. selling
   5. holistic marketing

8. Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
   1. shopping goods
   2. unsought goods
   3. necessary goods
   4. luxury goods
   5. complementary goods

9. As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The company believes that its competitive edge lies in its ability to offer the best prices. They also maintain an excellent distribution network that ensures wide availability of their products. SteelMakers has a        .
   1. selling orientation
   2. production orientation
   3. product orientation
   4. marketing orientation
   5. social orientation

10. Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
    1. production orientation
    2. product orientation
    3. selling orientation
    4. marketing orientation
    5. holistic marketing orientation

11. Rick Johnson trains his company's sales force to go after the consumer. He repeatedly asks his team to bear in mind the essential fact that it is the sales team's responsibility to rouse the consumer's interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Johnson believes in the  concept.
    1. product
    2. production
    3. selling
    4. marketing
    5. social responsibility

12. Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc. follows the                                                                                                             concept in doing business.
    1. production
    2. product
    3. selling
    4. marketing
    5. social responsibility

13. The                        concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
    1. production
    2. selling
    3. marketing
    4. product
    5. holistic marketing

14. The marketing concept holds that                          .
    1. a firm should find the right products for its customers, and not the right customers for its products
    2. customers who are coaxed into buying a product will most likely buy it again
    3. a new product will not be successful unless it is priced, distributed, and sold properly
    4. consumers and businesses, if left alone, won't buy enough of the organization's products
    5. a better product will by itself lead people to buy it without much effort from the sellers

15.                        is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.
    1. Niche marketing
    2. Holistic marketing
    3. Relationship marketing
    4. Supply chain marketing
    5. Demand-centered marketing

16. What are the four broad components of holistic marketing?
    1. relationship, internal, position, and performance marketing
    2. integrated, internal, position, and performance marketing
    3. relationship, integrated, internal, and performance marketing
    4. integrated, relationship, social responsibility, and position marketing
    5. relationship, social responsibility, internal, and performance marketing

17.                        marketing aims to build mutually satisfying long-term collaboration with key constituents, such as customers, employees, suppliers, distributors, and other marketing partners, in order to earn and retain their business.
    1. Integrated
    2. Demand-based
    3. Direct
    4. Relationship
    5. Internal

18. The ultimate outcome of relationship marketing is a unique company asset called the

                     , consisting of the company and its supporting stakeholders.

1. 1. brand
   2. supply chain
   3. marketing network
   4. value proposition
   5. service channel

19. Which of the following is most consistent with the integrated marketing approach?
    1. A good product will sell itself.
    2. If left alone, consumers are inclined to purchase only inexpensive products.
    3. All communication to consumers must deliver a consistent message irrespective of the medium.
    4. In order to succeed, the main focus should be on having an efficient production process in place.
    5. Online marketing is less important than traditional marketing efforts.

20. Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles, especially senior management?
    1. relationship marketing
    2. integrated marketing
    3. internal marketing
    4. network marketing
    5. performance marketing

21. Financial accountability and social responsibility marketing are elements of

                     .

1. 1. performance marketing
   2. relationship marketing
   3. internal marketing
   4. social marketing
   5. mass marketing

22. Companies are recognizing that much of their market value comes from                               , particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.
    1. variable assets
    2. value propositions
    3. intangible assets
    4. market offerings
    5. industry convergence

23. The                        holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
    1. selling concept
    2. integrated marketing concept
    3. social responsibility marketing concept
    4. production concept
    5. relationship marketing concept