MKTG 3100 Test Bank

MKTG 3100 Test Bank - True/ False questions Strategic...

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True/ False questions Strategic planning is most effective when managers view it as an annual exercise False Customer value is the ratio of benefits to the pleasure necessary to obtain those benefits False Having a global vision means management recognizes and reacts to international marketing opportunities, is aware of threats from foreign competitors in all markets, and effectively utilizes international distribution networks. True For a retail operation requiring a storefront, the component of the marketing mix called place is most important. True All employees need to be customer-oriented because in the customer's eyes, the employee is the firm and may be the only firm representative the customer ever sees. True Retailers who have give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment True The ultimate goal of most marketing-oriented firms is profitability that results from satisfying the wants and needs of its consumers. True Although marketers cannot control the marketing mix, they can control the external environment in which their organization operates. False The phenomenon of working women has probably had a greater effect on marketing than has any other social change. True South-Western Publishing sells its business textbooks to college bookstores, which in turn sell the books to students. South-Wester is engaged in business marketing. True The emergence of the Internet has made buying and selling in business market is a process that is only efficient for the largest producer to pursue. False Consumable items that do not become part of the final product are called raw materials. False If consumer behavior is not well understood, a marketer will have difficulty creating an appropriate marketing mix. True Selective distortion occurs when consumers change information that conflicts with their feelings or beliefs. True AkPharm, Inc. has developed Cat-Sip, a lactose-free milk designed to be digestible by cats. The market for this product is cats. False Geography, psychographics, and benefit sought are examples of possible segmentation variables used by marketers. True Use of the Internet can cut marketing research costs by 25 to 40 percent and provide results in half the time it takes to do traditional telephone surveys. True Competitive intelligence allows managers to predict changes in business relationships, identify marketplace opportunities, and discover new or potential competitors. True Disintermediation is the elimination of wholesalers and distributors from the marketing channel . True Multiculturalism occurs when all major ethnic groups in an area are roughly equally represented. True Recession is a general rise in prices with a corresponding increase in wages, which results in decreased purchasing power. False The concept of marketing is the idea that people give up something to receive something. True
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This is the Era of Generation "C", where "C" stands for CONTENT. True
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MKTG 3100 Test Bank - True/ False questions Strategic...

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