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Essentials Of Marketing, 9/eWilliam D. Perreault, University of North Carolina at Chapel Hill

Marketing's role in the global economy

Results ReporterOut of 17 questions, you answered 8 correctly, for a final grade of 47%.

8 correct (47%)9 incorrect (53%)

0 unanswered (0%)

Your Results:The correct answer for each question is indicated by a .

1 CORRECT __________________ is the extent to which a firm fulfills acustomer's needs, desires, and expectations.A)Form utilityB)ProductionC)Customer satisfactionD)Micro marketing

2 INCORRECTThe five kinds of economic utilities supplied by production andmarketing are the: form, task, time, place and possessionutilities.

A)TrueB)False

3 INCORRECT Possession utility is provided when:A)A good or service is obtained and there is a right to use

or consume itB)A product is available where someone wants itC)Someone performs a task for someone elseD)Someone produces something tangible

4 INCORRECT Marketing is either a set of activities performed by organizations,or a social process, but NOT both.A)TrueB)False

5 CORRECTThe performance of activities that seek to accomplish anorganization's objectives by anticipating customer or client needsand directing a flow of need-satisfying goods and services to acustomer or client is:

A)A planned economic systemB)Macro-marketingC)Micro -marketingD)An intermediary

6 INCORRECT There are two (2) basic kinds of economic systems. They are:A)Planned and spontaneousB)Market directed and pure subsistenceC)Planned and market-directedD)None of the above

7 CORRECT "Counter-trade" is a special type of bartering which many firmsuse to overcome the problems of trade restrictions.A)TrueB)False

8 INCORRECT Which of the following is NOT an objective of the World TradeOrganization (WTO) agreements?A)To help the free-flow of tradeB)To facilitate additional negotiationC)To provide an impartial means of settling disputesD)To encourage the development of a common international

currency

9 CORRECT The universal functions of marketing include:A)Buying, selling and risk takingB)Transporting, standardization and gradingC)Storing, financing, and market informationD)All of the above

10 CORRECTFrom a macro-level viewpoint, responsibility for performing themarketing functions can be shifted and shared in a variety ofways, but no function can be completely eliminated.

A)TrueB)False

11 CORRECT Production is an important economic activity, and most often, if afirm has a good product, their business will be a success.A)TrueB)False

12 INCORRECT Marketing should begin withA)Potential customer needsB)The production processC)Both a & bD)None of the above

13 CORRECTA social process that directs an economy's flow of goods andservices from producers to consumers in a way that effectivelymatches supply and demand and accomplishes the objectives ofsociety is called _______________________.

A)Micro-marketingB)Macro-marketingC)Global-marketingD)Planned economic system

14 CORRECT______________ is the way an economy organizes to use scarceresources and produce goods and services and distribute themfor consumption by various people and groups in the society.

A)An economic system

B)A resource allocation systemC)A micro-macro dilemmaD)Macro-marketing

15 INCORRECT Tariffs are taxes on products that are imported and exported toand from a country.A)TrueB)False

16 INCORRECTFirms that provide marketing functions other than buying orselling include advertising agencies, marketing research firms,independent product-testing laboratories, and Internet serviceproviders. These firms are known as _________________.

A)EnhancersB)FacilitatorsC)AdjunctsD)Coordinators

17 INCORRECTExchanges between individuals or organizations - and activitiesthat facilitate those exchanges - based on applications ofinformation technology are called ___________.

A)Internet commerceB)E-commerceC)Web commerceD)High-tech commerce

Routing InformationDate: Thu May 21 13:14:42 EDT 2015

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