Texas Tech University



MKT 3350-002Quiz Chapter 1Which of the following is not a core aspect of marketing?Marketing helps create value.Marketing affects various stakeholders.Marketing entails an exchange.Marketing helps with research and development.Marketing is about satisfying the customer’s needs and wants.Which of the following is not part of the marketing mix (four P’s)?ProductPricePufferyPlacePromotionWhich of the following show the importance of marketing?Can be entrepreneurialExpands global presence Enriches society Pervasive across channel members All the above According to the AMA marketing is an organizational function and a set of processes for__________ value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.creating, producing, marketing, and deliveringcreating, capturing, communicating, and exchanging creating, capturing, communicating, and deliveringcapturing, producing, examining, and deliveringcapturing, transferring, thinking, and creatingPromotion is communication by a marketer that informs, persuades, and _______ potential buyers about a product or service so as to influence their opinions and elicit a response.RemindsPromotesEnticesAttractsNone of the aboveMarketing success begins with a strong understanding of Behavioral patterns of employees in upper management Any and all trade laws that determine front line productionThe desires and requirements of the marketplace consumerBest practices in contemporary graphic design In the four Ps of marketing, the task of the price is to _____ value of the market mix. Stabilize Capture Increase Decrease Which is not a step in situational analysis?Understanding the environment and marketSet future objectivesIdentify threats and opportunitiesAssess the competitive positionCentralized organizations focus on all of the following except what?Less budget for researchBetter coordination and control of researchSingle corporate research department for all researchMore economical and flexible use of facilitiesThe marketing mix has 4 elements, they are product,place,price and _____.PromotionPeoplePossessionPropositionAll possible customers in a market, regardless of the differences in specific needs, are known as a ______.MarketingValueMass MarketMarketing MixGood marketing is not a _______ activity; it requires thoughtful planning with an emphasis on the ethical implications of any of those decisions on society in general.RandomFairSimplePracticalMarketers and advertisers spend about $ _____ billion in the United States and $ ____ billion worldwide.$300 billion, $112 billion$189 billion, $592 billion$592 billion, $189 billion $112 billion, $300 billionWhich of the following 4 P's is responsible for creating value?PricePromotionProduct PlaceWhat is the process in which business sell to consumers?Business to businessConsumer to consumerMarketing to business Business to consumer Value Co Creation is defined as Creating something twiceRenewing an old productCustomers can act as collaborators to create the product or serviceProduct, price, place, promotionSupply chain is defined as what?Group of firms that make and deliver a given set of goods and services People who assume the risk of a business Price PromotionThe selling of products by the manufacturer to be then sold by the wholesaler is what type of marketing?Consumer-to-consumerBusiness-to-businessBusiness-to-consumerNone of the aboveSupply chain is best known as ?Action planProductionMarketing channelValue basedMarketing can be performed by _____ and organizations.SuppliersStakeholdersConsumersIndividualsAnswersDCECACBBAACABCDCABCD ................
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