Mkt Mgmt Chapter 1 Midterm Questions Database--10-10-06

Mkt Mgmt Chapter 1 Midterm Questions Database--10-10-06 -...

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Name: __________________________ Date: _____________ 1. Customer satisfaction is the extent to which a firm fulfills a consumer's: A) needs. B) desires. C) expectations. D) only A and B above. E) all of the above. 2. According to the text: A) marketing is a more important economic activity than production. B) production and marketing combine to provide the five basic economic utilities. C) only marketing provides form utility. D) only marketing provides economic utility. E) a good product is all you need for success in business. 3. Marketing and production combine to provide five economic utilities. Which of the following is NOT one of these five? A) possession. B) product. C) place. D) time. E) form. 4. Having the right to use or consume a product is: A) task utility. B) place utility. C) possession utility. D) form utility. E) time utility. 5. Which of the following statements about economic utility is NOT true? A) Task utility is provided when someone performs a task for someone else. B) Place utility means having a product available where consumers want it. C) Possession utility means having the right to use or consume the product. D) Time utility means getting a new product onto Page 1
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the market in as short a time as possible. E) Form utility means making something tangible. 6. Which of the following statements about marketing is FALSE? A) Marketing concepts and techniques apply for nonprofit organizations--as well as for profit- seeking organizations. B) Marketing offers many rewarding career opportunities. C) The cost of marketing is about 15 percent of the consumer's dollar. D) Marketing affects almost every part of your daily life. E) Marketing is vital for economic growth and development. 7. Marketing is: A) a set of activities performed by individual organizations. B) relevant to both business and nonprofit organizations. C) a social process. D) all of the above are correct. E) only A and B above. 8. Looking at marketing as a set of activities focuses on A) macro-marketing. B) business marketing. C) micro-marketing. D) time utility. E) personalized marketing. 9. Micro-marketing: A) tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them. B) begins with the production process. C) involves persuading customers to buy your product. D) is a social process involving all producers, middlemen, and consumers. E) focuses on how the whole macro-marketing system works. Page 2
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10. Which of the following organizations would be least likely to need marketing skills? A) an accountant B) an electronics retailer C) a toy manufacturer D) a financial advisor E) All of the above would need marketing skills. 11. Which of the following is the best example of micro-marketing?
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This note was uploaded on 03/13/2011 for the course MKTG 301 taught by Professor Carter,e during the Spring '08 term at CSU Bakersfield.

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Mkt Mgmt Chapter 1 Midterm Questions Database--10-10-06 -...

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