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Marketing Basic Concepts
Marketing Basic Concepts
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A #marketing #blindquiz for the #MBA students
Flashcards
33 cards
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Questions
33
Answers
1
Ethics is defined as moral standards expected by
employees.
a society.
an organization.
the AMA.
2
Having an efficient supply chain is critical if a firm wishes to
deliver value.
forecast value.
create value.
communicate value.
3
Which marketing mix element describes what a buyer exchanges with a seller?
place
promotion
product
price
4
Which of the following would NOT be considered a member of a supply chain?
retailers
wholesalers
customers
manufacturers
5
In marketing, states of felt deprivation are referred to as
needs
cravings
wants
desires
6
Which era in the history of marketing continued until the end of World War II?
marketing concept
sales orientation
relationship marketing
production orientation
7
The firms used to believe that quality products would sell themselves during:
production concept
product concept
sales concept
marketing concept
8
Which marketing strategy was especially important during the Great Depression?
customer orientation
marketing concept
sales orientation
production orientation
9
The marketing concept began to emerge in the
1990s
1930s
1950s
1970s
10
In marketing, an exchange refers to
bartering products/services for other products/services
trading things of value that each is better off as a result
the money paid by a consumer for a product or service
replacing a non-effective form of advertising
11
What is the most basic concept in marketing?
determining the difference between consumer needs and wants
determining the best advertising outlet for a product
satisfying the needs of stakeholders
streamlining production costs to generate maximum profits
12
What term is used to describe the increasingly interconnected nature of the world economy?
relationship marketing
globalization
the worldwide web
internationalization
13
Wants are the form that human needs take and are shaped by
personality, culture, and buying situation.
time, money, and expense.
culture, money, and geography.
lifestyle, demographics, and economic conditions.
14
Taking a marketing course can help your career in all of the following ways EXCEPT
by helping you market yourself to get a job after college.
by helping you determine what career field you should enter.
by helping you reach professional goals.
by helping you communicate your value
15
The group of Internetbased apps that allow the creation/exchange of usergenerated content is
social media
web media
Internet marketing
online applications
16
As you begin looking for a job after you graduate, it will be critical for you to know how to
create value
communicate value
explain value
deliver value
17
As it relates to customers, the aim of marketing is to
reduce the number of customer complaints
accurately and truthfully advertise the product
provide customers with value
generate repeat sales from each and every customer
18
What is the premise behind the marketing concept?
a companywide focus on increasing profits
an interest in streamlining production processes
focusing on keeping the company stakeholders satisfied
a focus on satisfying the needs of the customer
19
All of the following are considered to be external stakeholders of a firm EXCEPT
suppliers.
customers.
government.
managers.
20
The perceived benefits, that customers receive from a product compared to its cost is
a marketing exchange
customer value
relationship marketing
the marketing mix
21
Any discussion of the marketing mix typically begins with the
product
place
promotion
price
22
The focus of the marketing concept era was on
production
competition
sales
customers
23
The name/term/symbol/design, or any combination of these that identifies a firm's products is
trademark.
patent.
identifier.
brand.
24
The four Ps are more formally referred to as the marketing
dimensions.
matrix.
mix.
concept.
25
What is the secret of great marketing when it comes to creating value?
figuring out how to charge the highest price for a product
filling the market with all forms of advertising promotions
understanding the marketplace demands before competitors do
consistently creating new products for the marketplace
26
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT
profit
promotion
price
place
27
The global network used to create and deliver products is referred to as
logistics
the supply chain
the production cycle
the marketing chain
28
What is a person looking to satisfy if he or she feels deprived of basic necessities?
a dilemma
a craving
a want
a need
29
Which of the following questions relates to the price element of the marketing mix?
Should I offer customers a discount?
Do I need to hire salespeople?
How long has my product existed?
How much inventory should I have?
30
Which marketing mix element involves decisions regarding logistics, managing the supply chain?
price
promotion
product
place
31
The activity of buyers/sellers trading things of value that each is better off as a result is
an exchange
personal selling
bartering
merchandising
32
Which of the following accurately represents the 4 Ps of the marketing mix?
product, price, promotion, and perception
production, promotion, profit, and participation
promotion, place, profit, and preference
product, price, place, and promotion
33
What is the key to creating value?
providing consumers with benefits that meet their needs
being the first to create a new product or service
accurately advertising a product
making products priced lower than the competition
