Question 1

Macro-marketing emphasizes the activities of individual organizations.

Accepted Answer

The emphasis with macro-marketing is not on the activities of individual organizations.Instead,the emphasis is on how the whole marketing system works.

Question 2

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways.

Accepted Answer

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways.

Question 3

Marketing should begin with the production process.

Accepted Answer

Marketing should begin with potential customer needs and not with the production process.

Question 4

The term "economies of scale" means that as a company produces larger numbers of a particular product,the cost for each unit of the product goes down.

Accepted Answer

Economies of scale means that as a company produces larger numbers of a particular product,the cost of each unit of the product goes down.

Question 5

Marketing does not occur unless there are two or more parties who want to exchange something for something else.

Accepted Answer

Marketing involves a flow of need-satisfying offerings from a producer to a customer,which implies that there is an exchange of the offering for something else,such as the customer's money.

Question 6

A marketing exchange is a single transaction between a firm and a customer,nothing more.

Accepted Answer

A marketing exchange is often part of an ongoing relationship,not just a single transaction.

Question 7

Marketing only applies to for-profit organizations.

Accepted Answer

Marketing applies to both profit and nonprofit organizations.

Question 8

Achieving effective marketing in an advanced economy is simplified by the fact that producers are separated from consumers in only two ways: time and space.

Accepted Answer

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways such as space,time,information and values,and ownership.

Question 9

"Economies of scale" prevent a company from taking advantage of mass production.

Accepted Answer

Most firms specialize in producing and selling large amounts of a narrow assortment of goods and services,which allows them to take advantage of mass production with its economies of scale.

Question 10

Macro-marketing is concerned with examining the relationship of the entire production and distribution system.

Accepted Answer

Macro-marketing is concerned with the flow of need-satisfying goods and services from producers to consumers.

Question 11

Marketing activities should be of no interest to a nonprofit organization.

Accepted Answer

Marketing applies to both profit and nonprofit organizations.

Question 12

Macro-marketing emphasizes how the whole system works,rather than the activities of individual organizations.

Accepted Answer

The emphasis with macro-marketing is not on the activities of individual organizations.Instead,the emphasis is on how the whole marketing system works.

Question 13

Macro-marketing is a set of activities that direct an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.

Accepted Answer

Macro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.

Question 14

Production,not marketing,should determine what products are to be made.

Accepted Answer

Marketing,rather than production,should determine what goods and services are to be developed.

Question 15

In a pure subsistence economy-when each family unit produces everything it consumes-no marketing is involved.

Accepted Answer

In a pure subsistence economy,when each family unit produces everything it consumes,there is no need to exchange goods and services and no marketing is involved.

Question 16

Macro-marketing emphasizes how the whole marketing system works.

Accepted Answer

The emphasis with macro-marketing is on how the whole marketing system works,which includes looking at how marketing affects society and vice versa.

Question 17

Marketing activities should begin with potential customer needs,not with the production process.

Accepted Answer

Marketing,rather than production,should begin with determining what goods and services are to be developed to satisfy customer needs.

Question 18

An effective macro-marketing system matches heterogeneous supply with heterogeneous demand.

Accepted Answer

The role of a macro-marketing system is to effectively match the heterogeneous supply and demand and at the same time accomplish society's objectives.

Question 19

Marketing is concerned with individual transactions rather than with building ongoing relationships with customers,because that is the job of people in the public relations department.

Accepted Answer

The marketing flow of need-satisfying goods and services is not just for a single transaction but rather is part of building a long-lasting relationship that benefits both the firm and the customer.

Question 20

Micro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes society's objectives.

Accepted Answer

Macro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.

Quiz 1: Marketings Value to Consumers, Firms, and Society

Macro-marketing emphasizes the activities of individual organizations.

Effective marketing in an advanced economy is difficult because producers and consumers are often separated in several ways.

Marketing should begin with the production process.

The term "economies of scale" means that as a company produces larger numbers of a particular product,the cost for each unit of the product goes down.

Marketing does not occur unless there are two or more parties who want to exchange something for something else.

A marketing exchange is a single transaction between a firm and a customer,nothing more.

Marketing only applies to for-profit organizations.

Achieving effective marketing in an advanced economy is simplified by the fact that producers are separated from consumers in only two ways: time and space.

"Economies of scale" prevent a company from taking advantage of mass production.

Macro-marketing is concerned with examining the relationship of the entire production and distribution system.

Marketing activities should be of no interest to a nonprofit organization.

Macro-marketing emphasizes how the whole system works,rather than the activities of individual organizations.

Macro-marketing is a set of activities that direct an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.

Production,not marketing,should determine what products are to be made.

In a pure subsistence economy-when each family unit produces everything it consumes-no marketing is involved.

Macro-marketing emphasizes how the whole marketing system works.

Marketing activities should begin with potential customer needs,not with the production process.

An effective macro-marketing system matches heterogeneous supply with heterogeneous demand.

Marketing is concerned with individual transactions rather than with building ongoing relationships with customers,because that is the job of people in the public relations department.

Micro-marketing is a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes society's objectives.