Chapter 1

Chapter 1: Defining Marketing for the 21st Century
GENERAL CONCEPT QUESTIONS
Multiple Choice
1. Good marketing is no accident, but a result of careful planning and .

a. execution
b. selling
c. strategies
d. tactics
e. research
2. Marketing is both an “art” and a “science”—there is constant tension between the

formulated side of marketing and the side.
a. creative
b. selling
c. management
d. forecasting
e. behavior
3. The most formal definition of marketing is .

a. meeting needs profitably
b. identifying and meeting human and social needs
c. the 4Ps (Product, Price, Place, Promotion)
d. an organizational function and a set of processes for creating, communicating,
and delivering, value to customers, and for managing customer relationships in
ways that benefit the organization and its stake holders.
e. improving the quality of life for consumers
4. Marketing management is .
a. managing the marketing process
b. monitoring the profitability of the companies products and services
c. selecting target markets
d. developing marketing strategies to move the company forward
e. the art and science of choosing target markets and getting, keeping, and growing
customers through creating, delivering, and communicating superior customer
value
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Part 1: Defining Marketing and the Marketing Process
5. A transaction involves .
a. at least two parties
b. each party has something that might be of value to the other party
c. each party is capable of communication and delivery
d. each party is free to accept or reject the exchange offer
e. all of the above
6. goods constitute the bulk of most countries’ production and marketing efforts.
a. Durable
b. Impulse
c. Physical
d. Service
e. Event
7. can be produced and marketed as a product.

a. Information
b. Celebrities
c. Durable goods
d. Organizations
e. Properties
8. Charles Revson of Revlon observed: “In the factory, we make cosmetics; in the
store, .”
a. we make profits
b. we challenge competitors
c. we implement ads
d. we sell hope
e. we sell quality
9. A is someone seeking a response (attention, a purchase, a vote, a

donation) from another party, called the .
a. salesperson, customer
b. fund raiser, contributor
c. politician, voter
d. marketer, prospect
e. celebrity, audience
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Chapter 1: Marketing: Managing Profitable Customer Relationships
10. In —consumers may share a strong need that cannot be satisfied by an

existing product.
a. negative demand
b. latent demand
c. declining demand
d. irregular demand
e. non-existent demand
11. In —more customers would like to buy the product than can be
satisfied.
a. latent demand
b. irregular demand
c. overfull demand
d. excessive
e. negative demand
12. Marketers often use the term to cover various groupings of customers.
a. people
b. buying power
c. demographic segment
d. social class position
e. market
13. Companies selling mass consumer goods and services such as soft drinks,
cosmetics, air travel, and athletic shoes and equipment spend a great deal of time
trying to establish a superior brand image in markets called .
a. business markets
b. global markets
c. consumer markets
d. nonprofit and governmental markets
e. service markets
14. In business markets, advertising can play a role, but a stronger role may be played
by the sales force, , and the company’s reputation for reliability and
quality.
a. brand image
b. distribution
c. promotion
d. price
e. performance
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15. Global marketers must decide .

a. which countries to enter
b. how to enter each country (as an exporter, licenser, joint venture partner,
contract manufacturer, or solo manufacturer)
c. how to adapt their product and service features to each country
d. how to price their products in different countries
e. all of the above
16. Mohan Sawhney has proposed the concept of to describe a cluster of

complementary products and services that are closely related in the minds of
consumers but are spread across a diverse set of industries.
a. metamarket
b. vertical integration
c. horizontal integration
d. betamarket
e. synchronized marketing
17. The promises to lead to more accurate levels of production, more

targeted communications, and more relevant pricing.
a. Age of Globalization
b. Age of Deregulation
c. Industrial Age
d. Information Age
e. Production Age
18. Companies must consider several factors in developing their communications mix:
type of product market, consumer readiness to make a purchase and stage in the
a. Product Life Cycle
b. Marketing Mix
c. Advertising Mix
d. Buying process
e. None of the above
19. Many countries have industries to create greater competition and

growth opportunities.
a. open-market
b. deregulated
c. regulated
d. scientifically segmented
e. created mass market
20. Customers are showing greater price sensitivity in their search for .
a. the right product
b. the right service
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Chapter 1: Marketing: Managing Profitable Customer Relationships
c. the right store

d. value
e. relationships
21. The is practiced most aggressively with unsought goods, goods that
buyers normally do not think of buying, such as insurance, encyclopedias, and
funeral plots.
a. marketing concept
b. selling concept
c. production concept
d. product concept
e. holistic marketing concept
22. The concept holds that consumers will favor those products that offer
the most quality, performance, or innovative features.
a. product
b. marketing
c. production
d. selling
e. holistic marketing
23. The concept holds that consumers and businesses, if left alone, will
ordinarily not buy enough of the organization’s products.
a. production
b. selling
c. marketing
d. product
e. holistic marketing
24. Several scholars have found that companies who embrace the marketing concept
achieve superior performance. This was first demonstrated for companies practicing
a —understanding and meeting customers’ expressed needs.
a. reactive market orientation
b. proactive marketing orientation
c. total market orientation
d. impulsive market orientation
e. holistic market orientation
25. According to Theodore Levitt, who drew a perceptive contrast between the selling
and marketing concepts, is preoccupied with the need to convert
products into cash.
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a. marketing
b. selling
c. direct marketing
d. holistic marketing
e. service marketing

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Chapter 1: Defining Marketing for the 21st Century

GENERAL CONCEPT QUESTIONS

1. Good marketing is no accident, but a result of careful planning and .

2. Marketing is both an “art” and a “science”—there is constant tension between the

3. The most formal definition of marketing is .

7. can be produced and marketed as a product.

9. A is someone seeking a response (attention, a purchase, a vote, a

10. In —consumers may share a strong need that cannot be satisfied by an

15. Global marketers must decide .

16. Mohan Sawhney has proposed the concept of to describe a cluster of

17. The promises to lead to more accurate levels of production, more

19. Many countries have industries to create greater competition and

c. the right store

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