Question 1

Which of the following best represents how marketing expands firms' global presence?

Accepted Answer

A)   when companies hire employees from different backgrounds and cultures
B)   when companies manufacture and sell their products all over the world
C)   when companies see a product manufactured overseas and decide to produce it domestically
D)   when companies require their employees to learn a foreign language
E)   when companies adhere to government restrictions in overseas marketsF) B) and D)
G) A) and B)

Question 2

__________ is communication by a marketer that informs,persuades,and reminds potential buyers about a product or service so as to influence their opinions and elicit a response.

Accepted Answer

A)   Pricing
B)   Promotion
C)   Placement
D)   A relational orientation
E)   Value cocreationF) B) and C)
G) All of the above

Question 3

Marketing advises production about how much of the company's product to make and then tells supply chain mangers when to ship it.

Accepted Answer

A) True 
 B)False

Question 4

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run.

Accepted Answer

A) True 
 B)False

Question 5

Which element of the marketing mix is most relevant to the activity "capturing value"?

Accepted Answer

A)   promotion
B)   purchasing
C)   product
D)   price
E)   placeF) A) and E)
G) A) and D)

Question 6

A group of firms that make and deliver a given set of goods and services is known as a distribution network.

Accepted Answer

A) True 
 B)False

Question 7

Suppose you worked at a restaurant near campus,one that was popular with students,and the manager asked you to explain how the restaurant might benefit from using location-based social media tools.How would you answer?

Accepted Answer

Answers will vary,but the student should...

Question 8

Henriette offers financial counseling and management on a fee-only basis.She has found that different customers are willing to pay different rates for her services.This shows that her pricing decisions should depend primarily on

Accepted Answer

A)   choosing an average price that she will charge all her clients.
B)   changes in technology allowing consumers to manage their own affairs.
C)   how different customers perceive the value of her services.
D)   changes in the economy.
E)   how much her competitors charge for similar services.F) C) and D)
G) A) and B)

Question 9

As owner of a retail franchise food store,Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system.One Monday,she was surprised to find customers asking for specials she hadn't been informed of in advance.The franchise company failed to live up to the value-driven activity of

Accepted Answer

A)   sharing information across the organization.
B)   balancing customers' benefits and costs.
C)   evaluating strategic competitive partnerships.
D)   building relationships with customers.
E)   keeping prices below those charged by competitors.F) D) and E)
G) C) and E)

Question 10

When we say that marketing can be entrepreneurial,it means that entrepreneurs

Accepted Answer

A)   attempt to mimic existing products on the market.
B)   launch ventures to satisfy unfilled needs.
C)   raise social consciousness.
D)   gain monopoly power.
E)   push new technology even if people aren't ready for it.F) A) and E)
G) A) and B)

Exam 1: Overview of Marketing

A group of firms that make and deliver a given set of goods and services is known as a distribution network.

Correct Answer
verified

__________ is communication by a marketer that informs,persuades,and reminds potential buyers about a product or service so as to influence their opinions and elicit a response.

Correct Answer
verified

Suppose you worked at a restaurant near campus,one that was popular with students,and the manager asked you to explain how the restaurant might benefit from using location-based social media tools.How would you answer?

Correct Answer
verified
Answers will vary,but the student should...
View Answer

When we say that marketing can be entrepreneurial,it means that entrepreneurs

Correct Answer
verified

Henriette offers financial counseling and management on a fee-only basis.She has found that different customers are willing to pay different rates for her services.This shows that her pricing decisions should depend primarily on

Correct Answer
verified

Which of the following best represents how marketing expands firms' global presence?

Correct Answer
verified

Marketing advises production about how much of the company's product to make and then tells supply chain mangers when to ship it.

Correct Answer
verified

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run.

Correct Answer
verified

Correct Answer
verified

Which element of the marketing mix is most relevant to the activity "capturing value"?

Correct Answer
verified

Exam 1: Overview of Marketing

A group of firms that make and deliver a given set of goods and services is known as a distribution network.

Correct AnswerverifiedShow Answer

__________ is communication by a marketer that informs,persuades,and reminds potential buyers about a product or service so as to influence their opinions and elicit a response.

Correct AnswerverifiedShow Answer

Suppose you worked at a restaurant near campus,one that was popular with students,and the manager asked you to explain how the restaurant might benefit from using location-based social media tools.How would you answer?

Correct AnswerverifiedAnswers will vary,but the student should...View AnswerShow Answer

When we say that marketing can be entrepreneurial,it means that entrepreneurs

Correct AnswerverifiedShow Answer

Henriette offers financial counseling and management on a fee-only basis.She has found that different customers are willing to pay different rates for her services.This shows that her pricing decisions should depend primarily on

Correct AnswerverifiedShow Answer

Which of the following best represents how marketing expands firms' global presence?

Correct AnswerverifiedShow Answer

Marketing advises production about how much of the company's product to make and then tells supply chain mangers when to ship it.

Correct AnswerverifiedShow Answer

Firms have come to realize that good corporate citizenship through socially responsible actions should be a priority because it will help their bottom line in the long run.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which element of the marketing mix is most relevant to the activity "capturing value"?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary,but the student should...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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