Click on the box next to each answer. Keep track of your own score.

1. The marketing concept is:
   • A. concerned primarily with the needs of customers. INCORRECT Consider other constituencies! Customer satisfaction is  an issue, but the needs of the organization are  important as well. For example, selling a product  at a low price might result in happy customers,  but it might also lead to losses that bankrupt our  company.
   • B. concerned primarily with the needs of consumers. INCORRECT Consider other constituencies! See answer A.
   • C. concerned primarily with the needs of sellers. INCORRECT Consider other constituencies! The idea of the marketing concept is that if we do not  adequately meet the needs of our customers, then  we might eventually not have enough customers to  meet our own needs.
   • D. concerned primarily with the needs of producers. INCORRECT Consider other constituencies! See answer C.
   • E. concerned with the needs of both sellers and buyers. CORRECT Additionally, there are other "stakeholders" who  might have needs, such as people who own company  stock. Customer satisfaction is an issue, but the  needs of the organization are important as well.  For example, selling a product at a low price might  result in happy customers, but it might also lead  to losses that bankrupt our company. The idea of  the marketing concept is that if we do not adequately  meet the needs of our customers, then we might  eventually not have enough customers to meet our  own needs.

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2. According to the textbook, marketing is:
   • A. the development of advertising and promotional events. INCORRECT Marketing might include these activities, but a marketer  doesn't necessarily do these things and almost always  is involved in many other activities.
   • B. product design, promotion, pricing, and distribution. INCORRECT Some writers and professors might limit the definition  to this (marketing mix). But your textbook doesn't.
   • C. all activities conducted by the marketing department. INCORRECT What if you don't have one? Please - no guessing!
   • D. difficult to define. CORRECT Your textbook author simply says, "marketing is  involved whenever an individual or organization has a  choice to make. (Note that your professor does  offer a definition, but agrees with the author that  it is difficult to define marketing.)

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3. Your textbook author believes that a selling orientation, or sales driven philosophy, is:
   • A. good. INCORRECT Try another answer. And note that your professor's notes  disagree with the textbook author.
   • B. bad. CORRECT A selling orientation starts with a product and then  tries to find customers. Your textbook author  argues (like many) that we have to start first with  recognizing prospective customers' needs. Your   professor agrees with this, but also believes  that it is possible to have a product for which  there is a known need, but for which customers must  be found. That is, your professor's notes argue  that an organization can be in the business of finding  customers for a product that has a known need - e.g.,  a manufacturer of industrial adhesives.
   • C. It depends on the product and buyer. INCORRECT See answer B. Your textbook author and many marketers  argue that a selling orientation ignores customer needs.  Note that your professor disagrees and believes that  this is the best answer. See answer B.

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4. Adding a brand name to a basic physical product can imply
   • A. an overpriced product.                                          INCORRECT Lousy guess!
   • B. value added benefits. CORRECT The reputation associated with the brand name becomes  associated with the product that bears the brand  name. This adds value to the physical thing.
   • C. government approval. INCORRECT So what if somebody registered a brand name.
   • D. nothing - it's just a name. INCORRECT Yikes! You chose this by accident, right?                      

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5. According to the textbook, a marketing manager:
   • A. is someone who creates or implements marketing strategies. CORRECT Your author notes that it is difficult to define what is  a marketing manager - since everyone in an  organization could be doing something associated  with marketing - but does note that a marketing  manger creates or implements marketing strategies.
   • B. generally moves up from the human resources department. INCORRECT
   • C. generally works in field sales to attract corporate accounts INCORRECT
   • D. works in a value adding capacity. INCORRECT You're apparently trying to memorize. The notion of "value  added" has to do with products, not with people.

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6. Customers buy products for:
   • A. the cost savings that a product provides over competition. INCORRECT So explain why people buy Rolex watches. Try answer D.
   • B. the attributes of the product. INCORRECT Close, but no cigar given other options.
   • C. the benefits that the product features provide. CORRECT Neither final consumers nor organizations buy products  for the sake of the product or even for the sake  of specific attributes. They buy products because  there is a need that is being filled by a bundle  of benefits. These benefits are provided by the  various attributes that are designed into the  product; deciding what attributes belong in a  product, however, starts with assessing the needs  of potential buyers and figuring out what  attributes provide benefits to meet those needs.
   • D. to feel good about themselves. INCORRECT Perhaps a Rolex watch makes some folks feel successful,  but that isn't why a jewelry retailer would buy one.  Try answer A.

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7. China has attempted to reduce the country's population by stressing the importance of having only one child. Is this marketing?
   • A. Yes. CORRECT Insert the word "promoting" in place of "stressing"  and you have the start of the marketing mix (strategy).  The objective is to encourage adherence to the one  child policy. In exchange for having only one child  (price), couples receive what they believe to be a  better future for their family, their children, and  their country. If such benefits are being promoted,  then there most certainly is a product (because  benefits are derived from products), however intangible.  
   • B. No. INCORRECT Marketing and marketing strategy aren't associated only with  physical things.

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8. The environment in which marketing and marketers operate is dynamic and largely outside the control of marketing management.
   • A. False: a good marketing manager would be in control. INCORRECT
   • B. True. CORRECT Customer tastes change, competitor actions are difficult  to predict, the economy changes, government  regulation changes, technology changes, etc.