Question 1

________ is the buying and selling of products over the Internet.
A)Consumer-generated marketing
B)Consumer relationship management
C)E-commerce
D)Social marketing
E)Social networking

Accepted Answer

E-commerce refers to the buying and selling of products or services over the Internet. The other choices relate to different concepts, such as consumer-generated marketing (when consumers create and share marketing content) or social marketing (promoting a cause or idea).

Question 2

Which of the following lists the three components of the triple bottom line orientation?
A)the financial bottom line, the social bottom line, and the environmental bottom line
B)the financial bottom line, the social bottom line, and the political bottom line
C)the financial bottom line, the cultural bottom line, and the business bottom line
D)the value bottom line, the service bottom line, and the business bottom line
E)the product bottom line, the service bottom line, and the relationship bottom line

Accepted Answer

The triple bottom line orientation refers to measuring success in three areas: economic, social, and environmental. These three components are commonly referred to as the financial bottom line, social bottom line, and environmental bottom line. Option A correctly lists these three components.

Question 3

A perspective that consumer spending, and hence the economy, is driven by psychological attachment to brands, the relevance ofinformation, and solutions is called
A)customer relationship management
B)Attention Economy
C)market positioning
D)creating sustainability
E)increasing the lifetime value of customers

Accepted Answer

The perspective that consumer spending is driven by psychological attachment to brands, the relevance of information, and solutions is called the Attention Economy. This concept emphasizes the importance of capturing and maintaining the attention of consumers in order to drive economic activity.

Question 4

The direct financial impact of a firm's expenditure on marketing activities is called the ________.
A)value chain
B)value proposition
C)differential benefit
D)return on investment (ROI)
E)utility function

Accepted Answer

The direct financial impact of a firm's expenditure on marketing activities is referred to as return on investment (ROI). This metric is used to measure the efficiency and effectiveness of marketing campaigns in generating revenue and profits for the company. The higher the ROI, the better the marketing campaign has performed financially.

Question 5

________ are the tangible products that individuals purchase for personal or family use.
A)Consumer services
B)Consumer goods
C)E-services
D)E-products
E)Industrial goods

Accepted Answer

Consumer goods are the tangible products that individuals purchase for personal or family use. This includes products such as clothes, food, cars, household appliances, and other physical goods meant for personal consumption. Other options such as Consumer services and E-services are intangible services meant for personal consumption, while E-products and Industrial goods typically refer to products meant for use in business or industrial settings.

Question 6

A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.
A)the selling orientation
B)the production orientation
C)Total Quality Management
D)Sustainable Development
E)return on investment

Accepted Answer

The concept of sustainable development is centered on balancing present consumer needs with the ability of future generations to meet their own needs. This means that a company focused on sustainable development is concerned with long-term thinking and avoiding negative impacts on the environment, society, and economy.

Question 7

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?
A)greenwashing
B)green marketing
C)triple bottom line orientation
D)social marketing
E)social networking

Accepted Answer

Green marketing involves promoting and highlighting a company's environmentally friendly practices or products to differentiate themselves from competitors and appeal to consumers who prioritize environmental stewardship. Greenwashing, on the other hand, refers to deceptive or exaggerated claims about a company's environmental friendliness. Triple bottom line orientation refers to a business approach that values social and environmental impact in addition to financial gain. Social marketing focuses on promoting behavior change for social good, while social networking refers to online platforms for social interaction.

Question 8

The relationship between marketing and ___________is a two-way street.Marketers influence what is popular, but products and the communication of those products also reflect the key social beliefs and values of the times.
A)myths
B)social services
C)consumer goods
D)Popular culture
E)value propositions

Accepted Answer

The relationship between marketing and popular culture is a two-way street. While marketers influence what is popular through advertising and other promotional tactics, products and their communication also reflect the key social beliefs and values of the times, which are often shaped by popular culture. Therefore, popular culture and marketing have a symbiotic relationship where they both influence and are influenced by each other.

Question 9

Companies that have a ________ orientation tend to be more successful at making one-time sales than at building repeat business.
A)consumer
B)marketing
C)selling
D)societal
E)relationship

Accepted Answer

A selling orientation is focused on making one-time sales and may neglect building relationships with customers, making it less likely to have repeat business. A marketing or relationship orientation, on the other hand, is more focused on understanding and meeting the needs of customers, which may lead to higher customer satisfaction and loyalty for future purchases. A consumer orientation is similar to a marketing orientation, as it focuses on meeting the needs and wants of consumers. A societal orientation is focused on benefiting society as a whole, and while it may lead to good relationships with customers, it is not necessarily focused on maximizing sales.

Question 10

More goods and services are sold in the ________ market than in the ________ market.
A)domestic; international
B)business-to-business; consumer
C)consumer; producer
D)industrial; business-to-business
E)e-commerce; Internet

Accepted Answer

The answer of More goods and services are sold in...

Question 11

______________looks at how much profit they expect to make from a particular customer, including each and every purchase he or she will make from them now and in the future.
A)bait-and-switch
B)anticonsumption
C)demarketing
D)shrinkage
E)lifetime value of a customer

Accepted Answer

The term "lifetime value of a customer" looks at the long-term profit that a customer will bring to a company through all of their purchases, not just one particular transaction. This calculation takes into account factors such as customer loyalty and repeat business.

Question 12

In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following?
A)sustainability
B)the production orientation
C)the selling orientation
D)manufacturing on demand
E)instapreneurship

Accepted Answer

Companies that focus on a triple bottom line place equal importance on financial, social, and environmental sustainability. Therefore, sustainability is a top priority for these companies. The production and selling orientations focus predominantly on financial profitability, while manufacturing on demand and instapreneurship are specific business models that may or may not align with a triple bottom line focus.

Question 13

It is most accurate to say that popular culture consists of the ________ that the mass market consumes.
A)myths
B)social services
C)consumer goods
D)forms of entertainment
E)value propositions

Accepted Answer

Popular culture refers to the cultural products that are consumed and enjoyed by the majority of the population, and these are primarily forms of entertainment such as music, movies, TV shows, video games, and social media. While myths, social services, consumer goods, and value propositions may also be part of popular culture, they do not fully encompass the range of cultural products that the mass market consumes.

Question 14

________ are intangible products that we pay for and use but never own.
A)Consumer goods
B)Services
C)Industrial goods
D)E-commerce products
E)Value products

Accepted Answer

Services are intangible products that we pay for and use, but we do not own them. Examples of services include haircuts, massages, transportation, and consulting.

Question 15

________ marketing is the marketing of goods and services from one organization to another.
A)Distributive
B)Consumer
C)Customer
D)Business-to-business
E)Target

Accepted Answer

Business-to-business (B2B) marketing refers to the marketing of products or services from one business to another. This can include marketing efforts directed towards businesses as customers, suppliers, or partners. B2B marketing typically involves a longer sales cycle and a more complex purchasing process compared to consumer marketing.

Question 16

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.
A)Value propositioning
B)Customer relationship management (CRM)
C)The social marketing concept
D)A sales orientation
E)Value chain management

Accepted Answer

The social marketing concept is the idea that marketers must not only fulfill customers' needs but also benefit society and the company's profits. This involves considering the impact of marketing on society and promoting products that have both individual and societal benefits.

Question 17

The Internet has created a paradigm shift for businesses, moving us toward an attention economy in which a company's success will be measured by its ________.
A)sustainability
B)social responsibility
C)consumer-generated value
D)social network
E)share of mind

Accepted Answer

The concept of an attention economy refers to the increasing competition for users' attention in an information-rich environment. In this context, a company's success will be measured by its ability to capture and maintain customers' attention, known as its "share of mind." This is especially relevant in the age of the internet, where consumers are constantly bombarded with thousands of messages and distractions. While sustainability, social responsibility, consumer-generated value, and social networks are all important considerations for businesses, it is the ability to capture and maintain attention that will ultimately determine a company's success in the attention economy.

Question 18

Marketing of goods and services from one organization to the other is called ________
A)social marketer
B)business-to-business marketing
C)e-commerce marketer
D)marketing planner
E)instapreneur

Accepted Answer

The answer of Marketing of goods and services from one...

Question 19

A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.
A)consumer
B)promotion
C)selling
D)production
E)quality

Accepted Answer

A consumer orientation focuses on understanding and meeting customers' needs and wants. This approach prioritizes customer satisfaction and building relationships with them, rather than just pushing products or services onto them.

Question 20

________ involves systematically tracking consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs.
A)Value propositioning
B)Customer relationship management (CRM)
C)Differential benefit development
D)Sales orientation
E)Value chain management

Accepted Answer

Customer relationship management (CRM) involves systematically tracking consumers' preferences and behaviors over time to better understand and communicate with them. This information can be used to tailor the value proposition (the unique benefits and values offered to the customer) to each individual's wants and needs. CRM is a key strategy for building strong relationships with customers and increasing their loyalty to the brand.

Quiz 1: Welcome to the World of Marketing: Create and Deliver Value

________ is the buying and selling of products over the Internet.

Which of the following lists the three components of the triple bottom line orientation?

A perspective that consumer spending, and hence the economy, is driven by psychological attachment to brands, the relevance ofinformation, and solutions is called

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

________ are the tangible products that individuals purchase for personal or family use.

A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?

The relationship between marketing and ___________is a two-way street.Marketers influence what is popular, but products and the communication of those products also reflect the key social beliefs and values of the times.

Companies that have a ________ orientation tend to be more successful at making one-time sales than at building repeat business.

More goods and services are sold in the market than in the market.

______________looks at how much profit they expect to make from a particular customer, including each and every purchase he or she will make from them now and in the future.

In general, companies that focus on a triple bottom line are most likely to place a priority on which of the following?

It is most accurate to say that popular culture consists of the ________ that the mass market consumes.

________ are intangible products that we pay for and use but never own.

________ marketing is the marketing of goods and services from one organization to another.

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.

The Internet has created a paradigm shift for businesses, moving us toward an attention economy in which a company's success will be measured by its ________.

Marketing of goods and services from one organization to the other is called ________

A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.

________ involves systematically tracking consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs.