1. If you ask the average person, “What is marketing?,” one of the things you might hear is
A. Marketing is fun.
B. Marketing is not profitable.
C. Marketing is sales and advertising.
D. Marketing is the backbone of all business.
2. Marketers try to figure out what _______ want and then they try to figure out how to provide it and make money doing so.
A. business owners
B. advertisers
C. companies
D. customers
3. Which of the following is defined to be an exchange between a firm and its customers?
A. Finance
B. Advertising
C. Consumer Behavior
D. Marketing
4. In a marketing exchange, a customer
A. expects to pay
B. seeks profit
C. seeks payment
D. offers benefits
5. When the company’s mind-set was, “Let’s build a better mouse trap,” marketers were focused on
A. Promotion
B. Place
C. Price
D. Product
6. What is today’s marketplace focused more on?
A. Product
B. Business
C. Price
D. Customers
7. A company’s marketing executives should assess the _______ in terms of a general analysis of a business problem or opportunity the company is facing.
A. 5Cs
B. ARA
C. STP
D. Business situation
8. Joan, an MBA student learning marketing management, typically wants to see a framework that forms
A. the 5Cs
B. the big picture
C. market segments
D. company ethics
9. Marketing should be understood at both the strategic and conceptual levels as well as the
A. lower level
B. virtual level
C. psychological level
D. tactical, hands-on level
10. If companies are good and if they’re lucky, the exchange countries iterating between the customer and the company, ______ the tie between them
A. destroying
B. ending
C. strengthening
D. weakening
