Study Quiz 1.

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1. Marketing is: a) About the invention of new markets, new products and new services b) About the invention of new ways of distributing and reaching customers c) About researching, finding, understanding and making new markets d) About creating and changing market processes that change markets e) All of the answers listed 2. The presence of price and quality variance in markets means: a) Markets are not efficient b) Many consumers are ignorant c) A few suppliers products and services are best buys. Most are no t d) All of the answers listed 3. Marketing is about: a) Trading off between increased customer satisfaction and increased profits b) Increasing customer satisfaction, which in turn increases profits c) Increasing both customer satisfaction and company profits d) All of the answers listed 4. Product innovation and the diffusion of innovation create: a) Customer satisfaction b) Profits c) Capital d) All of the answers listed 5. Marketing is the business discipline responsible for: a) Product innovation b) The diffusion of innovation c) Product innovation and the diffusion of innovation d) None of the answers listed 6. The focus of companies needs to be on winning: a) The product innovation race b) The distribution innovation race c) Both a and b d) Either a or b e) None of the answers listed 7. A responsibility of marketers is to sell new products and ideas to: a) Their organization b) Their existing customers c) New customers d) All of the answers listed 8. Excellence in advertising and promotions is most needed: a) When your products and distribution are weak b) When your products and distribution are strong c) At all times d) At no time 9. The United States market is no longer where the action is: a) Because it is no longer the largest economy in the world b) Because its economy is shrinking in size c) Because it is growing much slower than Asia d) All of the answers listed

10. The future of the United States and Canada depends on their: a) Product innovation skills b) Service innovation skills c) Marketing skills d) Diffusion of innovation skills

Study Quiz 1.2

1. The British Trading Empire replaced: a) The German Trading Empire b) The Spanish Trading Empire c) The French Trading Empire d) None of the answers listed 2. For how long has trading dominated raiding as a way of obtaining wealth and a) It is relatively new b) For a thousand years c) For three thousand years d) For five thousand years 3. The first ecological disaster that destroyed an early trading empire occurred in: a) China b) Africa c) Central America d) The Middle East e) Europe 4. How many times has China closed down its trade with the world? a) Once b) Twice c) Three times d) Five times 5. Wealth is created by: a) Selling and buying b) Invention c) The additive combination of trading and invention d) The dynamic combination of selling, buying and invention 6. Schumpeterian wealth is created by: a) Selling and buying b) Invention c) The additive combination of trading and invention d) The dynamic combination of selling, buying and invention 7. Adam Smith described a process where wealth is created by: a) Selling and buying b) Invention c) The additive combination of trading and invention d) The dynamic combination of selling, buying and invention 8. The biggest example of the humanizing, welfare creating and civilizing benefits of world trade in inventions is: a) The Internet b) The steamship c) Money d) Antibiotics

9. When a nations trading ability declines: a) It often resorts to raiding b) People blame the leaders c) It is because it becomes overconfident and arrogant d) The whole culture loses its vitality and declines 10. The good created by global free trade vastly outweighs the bad it has created. a) This is a matter of opinion b) This has been established by thousands of years of advancing civilization and prosperity c) Is the sort of statement you would expect from a marketing textbook d) This is simply not true

Study Quiz 1.3

1. What competitive advantage does North America have that is discussed in this section? a) A superior higher education system b) Most of the worlds capital c) A superior distribution system d) None of the answers listed 2. Walmart has increased the productivity of _________. a) Parts of the United States b) The supermarkets in the United States c) The whole of the United States d) American workers 3. Economic history is hard on: a) The timid who do not want to risk change b) The conservatives who do not want change c) The lazy d) All of the answers listed 4. _________ leads as the innovator and mass market trendsetter in reducing supply chain and distribution costs. a) Walmart b) Canada c) Germany d) Apple Computer 5. What created the mixing of cultures? a) The invention of books b) Trading route crossroads c) Intermarriage between cultures d) Global advertising 6. In many parts of Europe a system of transportation as efficient as that of ancient Rome was not present until: a) The 15th century b) The 17th century c) The 18th or even 19th century d) The 19th or even 20th century 7. The refrigerated cargo ship was invented in the _______. a) 1860s b) 1880s c) 1900s d) 1920s

8. What is yet to fully react to the extraordinary changes in distribution over the last four generations? a) Our economy b) Our species c) Our culture d) All of the answers listed

Study Quiz 1.4

1. The losers in the global distribution and supply chain dynamic are particularly those with: a) A bad attitude toward trade b) No longer competitive manufacturing or farming skills c) Antiquated financial markets d) A belief that modern technology is an attack on their culture 2. The winners in the global distribution and supply chain dynamic are particularly those with: a) A willingness to steal intellectual property b) Traders who respond to market forces fast and well c) Leaders who protect their economies with tariffs and quotas d) A lot of workers who can be exploited 3. What has changed the global marketplace are new communication and transportation technologies, low labour costs and ______________. a) Entrepreneurs who spot opportunities b) The capitalist spirit c) Quality and on-time delivery assurance contracts d) Business school education 4. When domestic and global sources in existing trading alliances come under pressure to innovate, reduce prices and increase services: a) Domestic manufacturing output contracts as profits are lowered b) Consumer prices drop in very price competitive markets c) Retailer/distributor profits increase d) a and b above e) a, b and c above 5. When an economic downturn occurs as a result of shifting investment and employment resulting from global sourcing: a) Distributors try even harder to discover new sources of global supply b) Distributors try even harder to discover new sources of domestic supply c) Distributors lobby for Government support d) Distributors try to increase sales 6. Which of the following activities directly follows Retailer/distributor develops a trading alliance with new source in the global supply-chain dynamic? a) New communication and transportation technologies reduce transaction costs. Low labour costs and quality and on-time delivery assurance contracts make supplier attractive b) Domestic and global sources in existing trading alliances come under pressure to innovate, reduce prices and increase services c) Domestic manufacturing output contracts as profits are lowered by global competition d) Employment in manufacturing sectors exposed to fierce global price competition shrinks. Sectors that are insulated, such as health care, benefit from lower supply prices. Other sectors that lead the world in production and manufacturing innovation, such as pharmaceuticals, aerospace, and forest products, flourish

7. The lower the cost of trade and the faster the speed of trade flows: a) The faster the opening up of new markets around the world b) The faster new sources of low cost labour are introduced into the supply-chain c) The more everyone benefits d) a and c above e) a and b above 8. A positive outcome of the global trading dynamic is: a) Prices drop b) Inflation drops c) Interest rates drop d) All of the listed options 9. __________ production methods can be made to work in regions that have barely progressed beyond the stage of peasantry. a) Older b) Modern c) Mass d) No 10. FedEx, UPS and DHL have a few great process thinkers and a lot of good distribution process implementers who are________________: a) Paid very well b) Highly trained to do exactly what they are told and not think about it c) Asked to think about what they do and how to improve what they do d) None of the options listed

Study Quiz 1.5

1. The marketing of changing supply _____the needs and wants of consumers. a) Serves b) Meets c) Changes d) Manipulates 2. The changing needs, wants and preferences of consumers changes supply: a) Sometimes b) Often c) Always d) Never 3. New market segments emerge as _________ demand changes. a) The quantity of b) The curve of c) The variation in d) The quality of 4. Competition increases as: a) The number of small firms in the market increases b) The number of consumers in a market increases c) Demand exceeds supply d) Supply exceeds demand 5. Insatiable self improvement is in the self-interest of _________ firms. a) All b) Most c) Rival d) Monopolist

6. Change management in marketing is most important in a firms: a) Product development management processes b) Customer relationship management processes c) Supply chain management processes d) All of the answers listed 7. What follows Supply shifts to serve the demand of the most profitable market segments.? a) Effective products and process are quickly imitated and improved b) Sellers learn directly and by observing other sellers how to add customer and shareholder value c) The variation in consumer demand is constantly changing. d) Competition forces sellers to try new ways of serving customers and reducing costs. e) The supply of products and processes is constantly changing 8. What follows Sellers learn directly and by observing other sellers how to add customer and shareholder value.? a) Effective products and process are quickly imitated and improved b) Supply shifts to serve the demand of the most profitable market segments c) The variation in consumer demand is constantly changing d) Competition forces sellers to try new ways of serving customers and reducing costs e) The supply of products and processes is constantly changing 9. What follows Competition forces sellers to try new ways of serving customers and reducing costs.? a) Effective products and process are quickly imitated and improved b) Sellers learn directly and by observing other sellers how to add customer and shareholder value c) The variation in consumer demand is constantly changing d) Competition forces sellers to try new ways of serving customers and reducing costs e) The supply of products and processes is constantly changing 10. Which of the following is the implication of Effective products and process are quickly imitated and improved.? a) Sellers who implement faster are more competitive b) Sellers with an insatiable self-improvement drive are more competitive c) Sellers with superior market orientation and analysis skills that are listened to are more competitive d) All the options are correct