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Question 1
In the context of marketing, an exchange refers to people giving up something in order to
receive something else they would rather have.
True
One desired outcome of marketing is an exchangepeople giving up something in order to
receive something else they would rather have. Normally, we think of money as the medium of
exchange. See 1-1: What is Marketing?
Question 2
A market-oriented organization states that the social and economic justification for an
organization's existence is the satisfaction of customer wants and needs while meeting
organizational objectives.
True
The marketing concept is a simple and intuitively appealing philosophy that articulates a market
orientation. It states that the social and economic justification for an organization's existence is
the satisfaction of customer wants and needs while meeting organizational objectives. See 1-2:
Marketing Management Philosophies
Question 3
A market-oriented organization targets its products at "everybody" or "the average customer."
False
The practice of marketing has an impact on customers, the firm, the market, and society in
general. Which of the following is NOT a core aspect of marketing?
ensuring that financial statements correctly reflect the value of the firms brands
Customers give up things they valuefor example, money, information or time to a firm in
return for goods, services and ideas. This process is called a marketing exchange.
The four Ps comprise the ________________, which is the controllable set of activities that the
firm uses to respond to the wants of its target markets
Marketing mix
___________ are intangible customer benefits that are produced by people or machines, and
cannot be separated from the producer.
services
The goal of _____________ is to inform, persuade or remind potential buyers about a good or
service to influence their opinions and elicit a response. promotion
Marketing firms become more value driven by focusing on four activities. Which of the
following is NOT one of those activities?
They concentrate on making a profit above all else
Customers seek benefits and will consider trade-offs among them, while also considering costs.
In value-based marketing, the marketer must
find opportunities to meet as many needs as possible while also keeping costs down
The group of firms that make and deliver a given set of goods and services is known as the
Supply chain
Firms that focus on the lifetime profitability of their relationships with their customers as
opposed to how much money they make in each transaction operate under a _______
orientation.
relational
As identifed in the text, Marketing is important for all of the following reasons EXCEPT
marketers advise the human resource department on the right type of employees to
hire.
42. ____ involves collecting information about where and when people travel.
Data mining
43. Which of the following is not an example of niche travel?
airlines offering special rates to Disney World
44. ____ income can be freely spent.
Disposable
45. ____ has influenced the world of entertainment.
a. Television
b. Internet
c. Motion pictures
d. All of the above
46. The Jazz Singer was the first movie with sound in
1927
47. Promotion is not used to
price a product.
48. The NCAA sets guidelines and rules for all of the following areas in college sports except
sponsorships for the universities
49. College sports rankings at the beginning of the season are based upon
a. past team performance.
b. projected talent of the team.
c. team schedules.
d. all of the above
50. High rankings for college sports teams
a. have no impact for the season.
b. provide excellent promotion for the team.
c. create fewer steps to the lucrative number one spot.
d. b and c
51. The BCS was established to
match the top two college football teams at the end of the season.
52. A national college champion
a. increases related merchandise sales.
b. increases ticket sales for the next season.
c. helps to attract the top recruits.
d. all of the above
53. Which of the following is not a market segment?
people who watch the Super Bowl
54. Characteristics that cannot be measured, such as attitudes and lifestyle choices, are
referred to as
psychographics.
55. Fan support for womens sports
has increased dramatically.
56. Special promotions offered by restaurants
a. can be tied directly to the score of a sporting event.
b. can be printed on the back of a game ticket.
c. are most effective when tracked by number of ticket stubs or coupons used by
consumers.
d. all of the above
57. Sponsorship of college athletics
a. involves financing or generating revenue for the college programs.
b. is illegal by NCAA standards.
c. is highly visible during televised events.
d. a and c
58. College baseball games
generally have low attendance.
59. Allowing a lucky fan to shoot a basket from mid-court during halftime of a basketball game
a. is a publicity stunt.
b. creates goodwill among fans.
c. gives the corporate sponsor high visibility.
d. all of the above
60. A license
is the legal right to reproduce a teams logo in exchange for payment.
61. A conference
is a group of college teams within the same region.
62. The NCAA allows conferences with ____ schools to add a football conference playoff game
each season.
12
63. An amateur athlete
can be of any age and physical condition.
64. High school athletics
a. are a social activity for many communities.
b. provide an opportunity for local business sponsorships.
c. are a big part of weekend life for many smaller communities.
d. all of the above
65. Which of the following is not a true statement about amateur sports?
Amateur sports are not featured in commercials.
66. Pickup games are popular for amateur
basketball
67. ____ have benefited from amateur sports.
a. Hotels
b. Restaurants
c. Service stations
d. All of the above
68. Female athletes
are endorsing more than beauty products, jewelry, and clothing.
69. The NCAA added ____ championship events for womens sports in 1981.
19
70. Television and radio payments from corporate sponsors add up to over ____ million a year
for major universities.
$1
71. College football ratings before the season begins
create excitement among the fans.
72. Sports magazines
a. use market segmentation by having different front covers for different parts of the
country.
b. use information management to determine rankings, feature articles, and cover stories.
c. are less expensive to produce than newspapers.
d. a and b
73. Any college wishing to join the NCAA must
a. obtain accreditation by the recognized accrediting agency of its region.
b. must comply with all NCAA rules.
c. must offer at least four intercollegiate sports each for men and women.
d. all of the above
74. BCS participants
each receive $13+ million.
75. Demographic segmentation focuses on
a. profession.
b. income.
c. education.
d. all of the above