MAR3023 CHAPTER 1: RELATIONSHIPS AND VALUE EXAM
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
GRADED A++
Which statement supports the idea that good marketing is not an easy task?
A. The promotion of new products is being handled by the developers of the
product and not the marketing team.
B. The number of new products that enter the marketplace each year is relatively
small.
C. Thousands of new products fail in the marketplace each year.
C. Thousands of new products fail in the marketplace each year.
How does having knowledge of marketing and its many applications help an
individual? (Select all that apply)
A. It can help the individual in career planning.
B. It can help the individual be a more informed citizen.
C. It can make the individual a better consumer.
D. It can help the individual understand world events.
A. It can help the individual in career planning.
B. It can help the individual be a more informed citizen.
C. It can make the individual a better consumer.
According to the AMA definition of marketing, who benefits from marketing
activities?
,A. government regulators
B. society at large
C. partners
D. customers
B. society at large
C. partners
D. customers
A marketing _______ is the trade of things of value between a buyer and seller so
that each is better off afterward.
exchange
Marketing typically impacts which of the following groups in society? (Select all
that apply)
A. customers
B. regulatory agencies
C. shareholders
D. suppliers
A. customers
C. shareholders
D. suppliers
Which of the following statements about marketing is TRUE?
A. Marketing is fairly foolproof if you know and apply traditional formulas.
B. Marketing is generally successful as long as you fund it, and most new
products succeed.
,C. Marketing isn't always easy; thousands of new products fail each year.
D. Because marketing is complicated most firms avoid using it.
C. Marketing isn't always easy; thousands of new products fail each year.
Studying marketing should help you to ______.
A. be a more informed citizen when interacting with businesses
B. understand the principles of financial leverage
C. identify all potential marketing failures before they occur
D. care more deeply about environmental causes
A. be a more informed citizen when interacting with businesses
While ______ establishes a firm's mission and objectives, the marketing
department supports the goals by helping to provide satisfying products.
A. the strategic business unit
B. The finance department
C. management
D. the board of directors
C. management
Marketing is an activity that creates value for customers, clients, partners, and
society at large. A firm does this by ______. (Select three answers)
A. creating offerings
B. selecting markets
C. segmenting offerings
D. communicating offerings
, E. delivering offerings
F. expanding markets
A. creating offerings
D. communicating offerings
E. delivering offerings
What can an organization do to reconcile the different interests of various groups
impacting the organization?
A. seek to eliminate the interests of the strongest group
B. strike a balance between the varying interests of the different groups
C. let the groups come up with a solution to reconcile their varying interests
D. seek to eliminate the interests of the weakest group
B. strike a balance between the varying interests of the different groups
True or false: The key to a marketing exchange is that both buyers and sellers
trade things of value so that each is better off after the trade.
True
Which of the following factors is not required for marketing to occur?
A. a retail location
B. a way for the parties to communicate
C. the desire and ability to satisfy these needs
D. something to exchange
E. two or more parties with unsatisfied needs
A. a retail location
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
GRADED A++
Which statement supports the idea that good marketing is not an easy task?
A. The promotion of new products is being handled by the developers of the
product and not the marketing team.
B. The number of new products that enter the marketplace each year is relatively
small.
C. Thousands of new products fail in the marketplace each year.
C. Thousands of new products fail in the marketplace each year.
How does having knowledge of marketing and its many applications help an
individual? (Select all that apply)
A. It can help the individual in career planning.
B. It can help the individual be a more informed citizen.
C. It can make the individual a better consumer.
D. It can help the individual understand world events.
A. It can help the individual in career planning.
B. It can help the individual be a more informed citizen.
C. It can make the individual a better consumer.
According to the AMA definition of marketing, who benefits from marketing
activities?
,A. government regulators
B. society at large
C. partners
D. customers
B. society at large
C. partners
D. customers
A marketing _______ is the trade of things of value between a buyer and seller so
that each is better off afterward.
exchange
Marketing typically impacts which of the following groups in society? (Select all
that apply)
A. customers
B. regulatory agencies
C. shareholders
D. suppliers
A. customers
C. shareholders
D. suppliers
Which of the following statements about marketing is TRUE?
A. Marketing is fairly foolproof if you know and apply traditional formulas.
B. Marketing is generally successful as long as you fund it, and most new
products succeed.
,C. Marketing isn't always easy; thousands of new products fail each year.
D. Because marketing is complicated most firms avoid using it.
C. Marketing isn't always easy; thousands of new products fail each year.
Studying marketing should help you to ______.
A. be a more informed citizen when interacting with businesses
B. understand the principles of financial leverage
C. identify all potential marketing failures before they occur
D. care more deeply about environmental causes
A. be a more informed citizen when interacting with businesses
While ______ establishes a firm's mission and objectives, the marketing
department supports the goals by helping to provide satisfying products.
A. the strategic business unit
B. The finance department
C. management
D. the board of directors
C. management
Marketing is an activity that creates value for customers, clients, partners, and
society at large. A firm does this by ______. (Select three answers)
A. creating offerings
B. selecting markets
C. segmenting offerings
D. communicating offerings
, E. delivering offerings
F. expanding markets
A. creating offerings
D. communicating offerings
E. delivering offerings
What can an organization do to reconcile the different interests of various groups
impacting the organization?
A. seek to eliminate the interests of the strongest group
B. strike a balance between the varying interests of the different groups
C. let the groups come up with a solution to reconcile their varying interests
D. seek to eliminate the interests of the weakest group
B. strike a balance between the varying interests of the different groups
True or false: The key to a marketing exchange is that both buyers and sellers
trade things of value so that each is better off after the trade.
True
Which of the following factors is not required for marketing to occur?
A. a retail location
B. a way for the parties to communicate
C. the desire and ability to satisfy these needs
D. something to exchange
E. two or more parties with unsatisfied needs
A. a retail location
