Marketing Concepts Quiz

Which of the following is an example of a marketing exchange?

• The waitress gave Cyrus a menu, and he placed his food order.

• Griffin helped Mandy replace the air filter in her lawn mower.

• Ken and Maggie gave their son an MP3 player for his birthday.

• In return for painting her fence, Mrs. Maloney gave Larry a box of homemade fudge.

• Jenny asked Melisa if she could borrow her pen for a while since her pen had stopped working.

Which of the following statements is true about marketing?

• Most marketers are seeking a one-time exchange or transaction with their customers.

• The focus of production-driven companies is on developing and sustaining relationships with their customers.

• Successful companies recognize that creating and delivering value to their customers is extremely important.

• Though marketing plays an important role in developing relationships with customers, it cannot do much to maintain them.

• By definition, a marketing transaction has to involve the exchange of money.

_____ is the customer's perception of all the benefits of a product or service weighed against all the costs of acquiring and consuming it.

• Cost efficiency

• Information

• Range

• Value

• Exposure

Product, price, promotion, and _____ are the 4Ps of the marketing mix.

• people

• place

• package

• print

• privilege

Price, product, place and promotion together form the:

• value.

• promotional mix.

• marketing mix.

• integrated marketing communication.

• distribution channel.

Prior to the development of integrated marketing communications, the promotional function in most companies was dominated by:

• advertising.

• sales promotion.

• public relations.

• publicity.

• direct marketing

_____ involves coordinating the various promotional elements and other marketing activities that communicate with a firm's customers.

• Marketing mix

• Integrated marketing communications

• Relationship marketing

• Sales promotion

• Mass media advertising

British Airways employed _____ when it used product placement to make sure that viewers of the movie Die Another Day knew that James Bond flies first class on British Airways.

• the marketing mix

• sales promotion activities

• integrated marketing communications

• the 4As

• relationship marketing

Arm & Hammer UltraMax deodorant contains time-released baking soda and provides "extra muscle for the game of life." Ads for the product featured a baseball star saying "When your day goes into extra innings, you need a deodorant with extra muscle," appeared in television and print ads.

• Mass customization

• Exchange

• Integrated marketing communications

• Buzz marketing

• Relationship marketing

"The 4As" stands for:

• Association for Awareness of Advertising and Action.

• American Association of Advertising Agencies.

• Asian Association for Advertising Agencies.

• Advertising aimed at Americans, Africans and Asians.

• Advertising Agencies Association of America.