Bus C150 Quiz 1- 15th Ed.
1. The utility of a product or service is its: want-satisfying power. re-usability. function as a commodity. design quality.
2. The marketing philosophy summarized by the phrase "a high-quality product will sell itself" is characteristic of the _____ era. production
sales
marketing
relationship
3. Approximately, what percentage of new product ventures end in failure? Less than 10 percent Between 25 percent and 40 percent Between 50 percent and 65 percent More than 80 percent
4. A market in which there are more buyers for fewer goods and services is known as a: seller�s market. monopoly. buyer�s market. oligopoly.
5. In the relationship era, firms focus on: short-term relationships with suppliers. long-term relationships with customers and suppliers. short-term relationships with customers and suppliers. short-term relationships with customers.
6. The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as: researching. planning. controlling. managing.
7. Effective relationship marketing is based in part on the use of: inside information about competitors. databases to track customer preferences. large advertising budgets. information about changing economic conditions.
8. A company's plans that focus largely on current and near-future activities are referred to as _____ plans. strategic
marketing
economic
tactical
9. The planning process begins with: writing the mission statement. establishing organizational objectives. formulating a marketing plan. hiring a senior planner.
10. What is the third step in the marketing planning process? Obtaining necessary financing Defining the organization�s mission and vision Assessing strengths, weaknesses, and opportunities Establishing organizational objectives
11. A firm that works with the Food and
2. The marketing philosophy summarized by the phrase "a high-quality product will sell itself" is characteristic of the _____ era. production
sales
marketing
relationship
3. Approximately, what percentage of new product ventures end in failure? Less than 10 percent Between 25 percent and 40 percent Between 50 percent and 65 percent More than 80 percent
4. A market in which there are more buyers for fewer goods and services is known as a: seller�s market. monopoly. buyer�s market. oligopoly.
5. In the relationship era, firms focus on: short-term relationships with suppliers. long-term relationships with customers and suppliers. short-term relationships with customers and suppliers. short-term relationships with customers.
6. The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as: researching. planning. controlling. managing.
7. Effective relationship marketing is based in part on the use of: inside information about competitors. databases to track customer preferences. large advertising budgets. information about changing economic conditions.
8. A company's plans that focus largely on current and near-future activities are referred to as _____ plans. strategic
marketing
economic
tactical
9. The planning process begins with: writing the mission statement. establishing organizational objectives. formulating a marketing plan. hiring a senior planner.
10. What is the third step in the marketing planning process? Obtaining necessary financing Defining the organization�s mission and vision Assessing strengths, weaknesses, and opportunities Establishing organizational objectives
11. A firm that works with the Food and