MKTG 3213 Exam 1 Questions And Answers With
Latest Solutions
Marketing is _____ ANS Exchange (1.1)
No money is exchanged in ___________, the process of exchanging goods and services between two
parties. ANS Barter (1.1)
Marketing exists because people have ________________ that they are willing to give up things of
value to satisfy. ANS Needs & Wants (1.1)
When an individual donates money to a charity, a _____ transaction has taken place. ANS
Marketing (1.1)
When an individual "sells" her time and labor to an organization, a marketing transaction takes place.
(T/F) ANS True (1.1)
What of type of market includes a middleman (a merchant)? ANS Centralized Exchange (1.1)
The process of setting marketing goals, the planning & execution of activities to meet these goals, &
measuring progress toward their achievement. ANS Marketing Management (1.1)
A product is a good, a service, or idea to _____ the cutomer's needs. ANS Satisfy (1.1)
The means of communication with the customer. ANS Promotion (1.1)
Robert Louis Stevenson once said that "Everyone lives by _________ something." ANS Selling
(1.2)
If the National Institutes of Health issued a guideline with cautions about the intake of certain types
of artificial sweeteners, this would be an example of marketing. (T/F) ANS True (1.2)
,It is important that any employees that interact with a company's customers carry "marketing" as part
of their job titles. (T/F) ANS False (1.2)
Roughly _____% of the dollar price paid by consumers for a product goes to cover the cost of
marketing. ANS 50 (1.2)
There are several different types of marketing functions that must take place in order to get products
from producers to consumers. What is not one of those functions? ANS Producing the physical
product (1.2)
What company is generally credited with origination the marketing concept? ANS General
Electric (1.2)
Which management orientation makes profits through sales volume? ANS Selling concept (1.2)
The _____ concept recognizes that people don't really buy products, they buy solutions to problems.
ANS Marketing (1.2)
What type of need would likely be satisfied LAST if other types of needs were present? ANS
Personal Needs (1.3)
What type of need resides at the lowest level in the PSSP Hierarchy of Needs? ANS
Physiological Needs (1.3)
The recognition of any difference between a consumer's actual state and some ideal or desired state.
ANS Need (1.3)
What type of need would most food and beverage companies primarily attempt to satisfy? ANS
Physiological needs (1.3)
, Allstate Insurance has traditionally focused its advertising on which type of consumer need?
ANS Safety Needs (1.3)
Marketers can create core needs. (T/F) ANS False (1.3)
Marketers are most effective at influencing consumer _______. ANS Wants (1.3)
The consumption chain is the sequence of stages that comprise the customer's __________ with a
product or service. ANS Experience (1.3)
What are reasons that marketing needs data? ANS - To know how effective its efforts are
- To prove its contribution to the rest of the organization
- To improve upon its efforts
(2.1)
What offers a solution to the problem that everyone has an opinion about the quality of marketing's
efforts? ANS Marketing Analytics (2.1)
Data and measurements can be used to prove the effectiveness of marketing efforts. (T/F) ANS
True (2.1)
What is not a benefit of marketing analytics? ANS They require very low resource investment.
(2.1)
Companies that have no marketing analytics process, make decisions by instinct, & view marketing
as an expense might be referred to as _____. ANS "Flying Blind" (2.1)
Most companies are "flying blind" when it comes to marketing analytics. (T/F) ANS False (2.1)
Latest Solutions
Marketing is _____ ANS Exchange (1.1)
No money is exchanged in ___________, the process of exchanging goods and services between two
parties. ANS Barter (1.1)
Marketing exists because people have ________________ that they are willing to give up things of
value to satisfy. ANS Needs & Wants (1.1)
When an individual donates money to a charity, a _____ transaction has taken place. ANS
Marketing (1.1)
When an individual "sells" her time and labor to an organization, a marketing transaction takes place.
(T/F) ANS True (1.1)
What of type of market includes a middleman (a merchant)? ANS Centralized Exchange (1.1)
The process of setting marketing goals, the planning & execution of activities to meet these goals, &
measuring progress toward their achievement. ANS Marketing Management (1.1)
A product is a good, a service, or idea to _____ the cutomer's needs. ANS Satisfy (1.1)
The means of communication with the customer. ANS Promotion (1.1)
Robert Louis Stevenson once said that "Everyone lives by _________ something." ANS Selling
(1.2)
If the National Institutes of Health issued a guideline with cautions about the intake of certain types
of artificial sweeteners, this would be an example of marketing. (T/F) ANS True (1.2)
,It is important that any employees that interact with a company's customers carry "marketing" as part
of their job titles. (T/F) ANS False (1.2)
Roughly _____% of the dollar price paid by consumers for a product goes to cover the cost of
marketing. ANS 50 (1.2)
There are several different types of marketing functions that must take place in order to get products
from producers to consumers. What is not one of those functions? ANS Producing the physical
product (1.2)
What company is generally credited with origination the marketing concept? ANS General
Electric (1.2)
Which management orientation makes profits through sales volume? ANS Selling concept (1.2)
The _____ concept recognizes that people don't really buy products, they buy solutions to problems.
ANS Marketing (1.2)
What type of need would likely be satisfied LAST if other types of needs were present? ANS
Personal Needs (1.3)
What type of need resides at the lowest level in the PSSP Hierarchy of Needs? ANS
Physiological Needs (1.3)
The recognition of any difference between a consumer's actual state and some ideal or desired state.
ANS Need (1.3)
What type of need would most food and beverage companies primarily attempt to satisfy? ANS
Physiological needs (1.3)
, Allstate Insurance has traditionally focused its advertising on which type of consumer need?
ANS Safety Needs (1.3)
Marketers can create core needs. (T/F) ANS False (1.3)
Marketers are most effective at influencing consumer _______. ANS Wants (1.3)
The consumption chain is the sequence of stages that comprise the customer's __________ with a
product or service. ANS Experience (1.3)
What are reasons that marketing needs data? ANS - To know how effective its efforts are
- To prove its contribution to the rest of the organization
- To improve upon its efforts
(2.1)
What offers a solution to the problem that everyone has an opinion about the quality of marketing's
efforts? ANS Marketing Analytics (2.1)
Data and measurements can be used to prove the effectiveness of marketing efforts. (T/F) ANS
True (2.1)
What is not a benefit of marketing analytics? ANS They require very low resource investment.
(2.1)
Companies that have no marketing analytics process, make decisions by instinct, & view marketing
as an expense might be referred to as _____. ANS "Flying Blind" (2.1)
Most companies are "flying blind" when it comes to marketing analytics. (T/F) ANS False (2.1)
