The Importance of Marketing

Question 1

A need becomes a want when it is backed by the ability to buy the respective good or service.

Accepted Answer

False

Question 2

When Anheuser-Busch airs a television advertisement encouraging individuals under 21 not to drink, this is demarketing

Accepted Answer

True

Question 3

According to the marketing mix, place is the means of getting the product into the consumer's hands

Accepted Answer

True

Question 4

In the 1950s, the philosophy that emerged was

Accepted Answer

marketing concept

Question 5

According to Maslow, the need to belong to a group is considered

Accepted Answer

social need

Question 6

"Buy one get one free." This is an example of price.

Accepted Answer

False

Question 7

Maslow’s Hierarchy breaks down needs into six different levels.

Accepted Answer

False

Question 8

A need becomes a want when

Accepted Answer

it is directed at a particular product

Question 9

The process of reducing demand for your own product when it is in the best interest of society is called

Accepted Answer

demarketing

Question 10

Goods refer to tangible products such as cereals, automobiles, & clothing while services are intangible activities

Accepted Answer

True

Question 11

Noel combines metal, rubber, and other components in the product of appliances. In doing so the company creates ________

Accepted Answer

form

Question 12

Going on a safari in Kenya or riding an elephant at a circus would examples of

Accepted Answer

ideas and experiences

Question 13

The utility of a product or service is its:

Accepted Answer

want-satisfying power

Question 14

People who share similar needs and wants and who can purchase your products are called a market.

Accepted Answer

True

Question 15

The owner of a miniature golf business provides his/her customers with?

Accepted Answer

a service

Question 16

The 4 P’s of marketing are

Accepted Answer

price, product, promotion, and place

Question 17

Satisfying basic human requirements is a

Accepted Answer

need

Question 18

The tendency of marketing efforts to focus on products, production, or sales & ignore specific consumer needs or import

Accepted Answer

marketing myopia

Question 19

The philosophy that was dominant in the United States between 1870 and 1930 was

Accepted Answer

product/production concept

Question 20

The availability of goods and services at convenient locations creates:

Accepted Answer

place utility

Question 21

The __ concept has its primary goal increasing sales volume, whereas the __ philosophy has as its primary goal address

Accepted Answer

selling, marketing

Question 22

The exchange process is central to marketing.

Accepted Answer

True

Question 23

The __ concept assumes consumers left alone will normally not purchase products the firm is selling, or not purchase

Accepted Answer

selling

Question 24

Successful marketers must be able to identify target consumers as well as their

Accepted Answer

needs, wants, & demands

Question 25

The key to whether consumers or businesses purchase a product again is the

Accepted Answer

level of satisfaction

Question 26

Organizational function & set of processes that creates & communicates value to customers & manages relationships

Accepted Answer

marketing

Question 27

Value is

Accepted Answer

the overall price given the quality of a product

Question 28

The ability to transfer title to goods or services from marketer to buyer is described as:

Accepted Answer

ownership

Question 29

Goods refer to

Accepted Answer

tangible products such as clothing

Question 30

The philosophy that was dominant in the United States between 1930 and 1950 was

Accepted Answer

selling concept

The Importance of Marketing

Questions 30

The Importance of Marketing

Questions 30