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MKTG 3213 Exam 1 questions with complete solutions (43)
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MKTG 3213 Exam 1 questions with complete solutions (43)
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MKTG 3213 Exam 1 questions withcomplete solutions (43)
Marketing is ____.
• Manipulation
• Exchange
• Unnecessary
• Inefficient - correct answer ✔✔Exchange
No money is exchanged in _____, the process of exchanging goods and services between two parties.
• non-market trading
• market clearing
• barter
• product marketing - correct answer ✔✔Barter
Marketing exists because people have ____ that they are willing to give up things of value to satisfy.
• preferences
• needs and wants
• desires and preferences
• cravings - correct answer ✔✔Needs and wants
When an individual donates money to a charity, a ____ transaction has taken place.
• non-marketing
• primary
• post-marketing
• marketing - correct answer ✔✔Marketing
,When an individual "sells" her time and labor to an organization, a marketing transaction takes place.
• true
• false - correct answer ✔✔True
With___, individuals find exchange partners to obtain the items that they need.
• standardized exchange
• decentralized exchange
• self-sufficiency
• none of the above - correct answer ✔✔Decentralized Exchange
The evolution of marketing proceeds in which of the following orders:
• self-sufficiency, decentralized exchange, centralized exchange
• centralized exchange, decentralized exchange, self-sufficiency
• self-sufficiency, decentralized exchange, standardized exchange
• decentralized exchange, standardized exchange, self-sufficiency - correct answer ✔✔Self Sufficiency,
Decentralized Exchange, Centralized Exchange
Which of the following types of markets includes a middleman (that is, a merchant)?
• decentralized exchange
• centralized exchange
• standardized exchange
• self-sufficiency - correct answer ✔✔Centralized Exchange
Which of the following types of markets is least efficient?
• decentralized exchange
• centralized exchange
• standardized exchange
• self-sufficiency - correct answer ✔✔Self-Sufficiency
,Exchange brings ___.
• teamwork
• new opportunities
• efficiency
• inefficiency - correct answer ✔✔Efficiency
___ is the process of setting marketing goals, the planning and execution of activities to meet these
goals, and measuring progress toward their achievement.
• Marketing
• Marketing discipline
• Marketing management
• Marketing strategy - correct answer ✔✔Marketing Management
A product is a good, service, or idea to ___ the customer's needs.
• create
• influence
• satisfy
• reduce - correct answer ✔✔Satisfy
___ is/are the means of communication with the customer.
• Process
• People
• Price
• Promotion - correct answer ✔✔Promotion
Robert Louis Stevenson once said that "Everyone lives by ____ something."
• marketing
• producing
• building
, • selling - correct answer ✔✔Selling
If the National Institutes of Health issued a guideline with cautions about the intake of certain types of
artificial sweeteners, this would be an example of marketing.
• true
• false - correct answer ✔✔True
It is important that any employees that interact with a company's customers carry "marketing" as part of
their job titles.
• true
• false - correct answer ✔✔False
Roughly ___ % of the dollar price paid by consumers for a product goes to cover the cost of marketing.
• 10
• 25
• 50
• 75 - correct answer ✔✔50
There are several different types of marketing functions that must take place in order to get products
from producers to consumers. Which of the following is NOT one of those functions?
• physical distribution
• matching
• producing the physical product
• promotion - correct answer ✔✔Producing the Physical Product
Which company is generally credited with originating the marketing concept?
• General Electric
• IBM
• Kodak
• Ford - correct answer ✔✔General Electric
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