Marketing is both an “art” and a delivering, and communicating superior

“science” there is constant tension customer value,

between the creative side of marketing
and the ________ side. A transaction involves ____________?

A. Selling side A. at least two parties

B. Formulated side C. each party is capable of communication
C. Management side and delivery
D. Forecasting side D. each party is free to accept or reject the
exchange offer
Good marketing is no accident, but a E. all of the above
result of careful planning and
__________? __________ goods constitute the bulk of
most countries’ production and
A. Execution marketing efforts.
C. Strategies
D. Tactics A. Durable
e. Research B. Impulse
C. Physical
The most formal definition of marketing D. Service e. Event
is ____________?
Information can be produced and
A. Meeting needs profitably marketed as a ___________?
B. Identifying and meeting human and
social needs A. Product
C. The 4Ps (Product, Price, Place, b. Show
Promotion) C. Reality
D. an organizational function and a set of D. Service
processes for creating, communicating,
and delivering, value to customers, and Charles Revson of Revlon observed: “In
for managing customer relationships in the factory, we make cosmetics; in the
ways that benefit the organization and its store, _________.
stake holders.
E. improving the quality of life for A. we sell quality
consumers B. we challenge competitors
C. we implement ads
Marketing management is ____________? D. we sell hope

A. Managing the marketing process A Marketer is someone seeking a

B. Monitoring the profitability of the response from another party, called the
companies products and services __________.
C. Developing marketing strategies to move
the company forward A. Customer
D. The art and science of choosing target B. Fund raiser, contributor
markets and getting, keeping, and C. Voter
growing customers through creating, D. Prospect

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In latent demand, consumers may share a C. Promotion
strong need that cannot be satisfied by D. Price
a/an____________?
Global marketers must decide
A. Future Product ___________.
B. Expected Product
C. Latent Product A. Which countries to enter
D. Existing Product B. How to adapt their product and service
features to each country
In __________more customers would like C. How to price their products in different
to buy the product than can be satisfied. countries
D. All of the above
A. latent demand
B. irregular demand In order to describe a cluster of
C. overfull demand complementary products and services
D. excessive that are closely related in the minds of
consumers but are spread across a diverse
Marketers often use the term set of industries, Mohan sawhney has
___________ to cover various groupings proposed the concept of__________?
of customers.
A. Vertical Integration
A. People B. Horizontal Integration
B. Buying power C. beta Market
C. Demographic segment D. Meta Market
D. Market
The age which promises to lead to more
Companies selling mass consumer goods accurate levels of production, more
and services such as soft drinks, targeted communications, and more
cosmetics, air travel, and athletic shoes relevant pricing is term as____________.
and equipment spend a great deal of time
trying to establish a superior brand image A. Age of Globalization
in markets called __________. B. Industrial Age
C. Information Age
A. Business markets D. Production Age
B. Global markets
C. Consumer markets Many countries have ________ industries
D. Nonprofit and governmental markets to create greater competition and growth
opportunities.
In business markets, advertising can play
a role, but a stronger role may be played A. open-market
by the sales force, ______, and the B. deregulated
company’s reputation for reliability and C. regulated
quality. D. scientifically segmented

A. Brand image
B. Distribution

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Customers are showing greater price
sensitivity in their search for
___________.
A. The right product
B. The right service
C. The right store
D. Value
Rising promotion costs and shrinking
profit margins are the result of
___________.
A. Changing technology
B. Globalization
C. Deregulation
D. Heightened competition
In response to giant retailers and category
killers, entrepreneurial retailers are
building entertainment into stores with
coffee bars, lectures, demonstrations, and
performances. They are marketing a(n)
________ rather than a product
assortment.
A. Customer value
B. Customer delight
C. total service solution
D. intangible benefit(s)
Many brick-and-click competitors
became stronger contenders in the
marketplace than the pure-click firms
because they had a larger pool of
resources to work with and ________.
A. Better prices
B. Well-established brand names
C. One-on-one communications
D. direct selling capability
The __________ is practiced most
aggressively with unsought goods, goods
that buyers normally do not think of
buying, such as insurance, encyclopedias,
and funeral plots.
a. Marketing concept
b. Selling concept
c. Production concept
d. Product concept
The ________ concept holds that
consumers will favor those products that
offer the most quality, performance, or
innovative features.
A. Product
B. Marketing
C. Production
D. Selling
The concept holds that consumers and
businesses, if left alone, will ordinarily not
buy enough of the organization’s
products is termed as____________?
A. Production Concept
B. Selling Concept
C. Marketing Concept
D. Buying Concept
Several scholars have found that
companies who embrace the marketing
concept achieve superior performance.
This was first demonstrated for
companies practicing a ___________
understanding and meeting customers’
expressed needs.
A. Reactive market orientation
B. Proactive marketing orientation
C. Total market orientation
D. Impulsive market orientation
In the course of converting to a marketing
orientation, a company faces three
hurdles _______.
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A. Organized resistance, slow learning,
and fast forgetting
B. Management, customer reaction,
competitive response
C. Decreased profits, increased R&D,
additional distribution
D. Forecasted demand, increased sales
expense, increased inventory costs

Companies that practice both a reactive

and proactive marketing orientation are
implementing a __________ and are likely
to be the most successful.

A. Total market orientation

B. External focus
C. Customer focus
D. Competitive, customer focus

Marketers argue for a __________ in

which all functions work together to
respond to, serve, and satisfy the
customer.

A. Cross-functional team orientation

B. Collaboration model
C. Customer orientation
D. Management-driven organization