1, 2,3,4 MKT 3301 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
From the perspective of macro-marketing, the
discrepancy between the small quantity of a product that
individual consumers need and the large quantity that
firms produce exists because
A. society has evolved past a subsistence economy.
B. firms seek to benefit from economies of scale.
C. businesses can satisfy customers better when they
have large inventory surpluses.
D. it is necessary to achieve customer satisfaction.
E. businesses prefer to store products for long periods.
Answer:
B
Question:
Macro-marketing focuses on how the whole marketing
system works. As such, it
A. seeks to match homogeneous supply capabilities with
homogeneous demands for goods and services.
B. is not concerned with how marketing affects society.
C. places emphasis on the activities of individual
organizations.
D. is concerned with the flow of need-satisfying goods
and services from producer to consumer.
E. applies to only nonprofit organizations—not profit
organizations.
Answer:
D
Question:
_________ can be defined as the extent to which a firm fulfills
a customer's needs, desires, and expectations.
A. Customer value
B. Customer equity
C. Organizational viability
D. Customer satisfaction
E. Social responsibility
Answer:
D
Question:
Which function of marketing involves sorting products
according to their size and quality, helping to reduce
, their need for inspection, and sampling?
A. the buying function
B. the market information function
C. the storing function
D. the risk-taking function
E. the standardization and grading function
Answer:
E
Question:
Norris believes that as a marketer, he should always
create an atmosphere of openness in his work with other
departments. Which ethical value from the American
Marketing Association Statement of Ethics does Norris
embody?
A. honesty
B. responsibility
C. transparency
D. respect
E. citizenship
Answer:
C
Question:
Which activity is part of the production process?
A. deciding whether to sell goods directly to consumers
or through retailers
B. identifying competing companies
C. determining how many people will want to purchase
goods or services
D. estimating the prices potential customers are willing to
pay
E. making goods or performing services
Answer:
E
Question:
Which statement is an example of the micro-macro
dilemma?
A/. Nuclear power will reduce your fuel bill and provide
clean energy.
B/. Smoking cigarettes is considered a bad habit, but
many people do it anyway.
C/. Having a dog or cat can be more expensive than
people realize.
D/. Driving an expensive car makes you look successful.
E. Aluminum soft drink cans are convenient, but they are
CORRECT ANSWERS
Question:
From the perspective of macro-marketing, the
discrepancy between the small quantity of a product that
individual consumers need and the large quantity that
firms produce exists because
A. society has evolved past a subsistence economy.
B. firms seek to benefit from economies of scale.
C. businesses can satisfy customers better when they
have large inventory surpluses.
D. it is necessary to achieve customer satisfaction.
E. businesses prefer to store products for long periods.
Answer:
B
Question:
Macro-marketing focuses on how the whole marketing
system works. As such, it
A. seeks to match homogeneous supply capabilities with
homogeneous demands for goods and services.
B. is not concerned with how marketing affects society.
C. places emphasis on the activities of individual
organizations.
D. is concerned with the flow of need-satisfying goods
and services from producer to consumer.
E. applies to only nonprofit organizations—not profit
organizations.
Answer:
D
Question:
_________ can be defined as the extent to which a firm fulfills
a customer's needs, desires, and expectations.
A. Customer value
B. Customer equity
C. Organizational viability
D. Customer satisfaction
E. Social responsibility
Answer:
D
Question:
Which function of marketing involves sorting products
according to their size and quality, helping to reduce
, their need for inspection, and sampling?
A. the buying function
B. the market information function
C. the storing function
D. the risk-taking function
E. the standardization and grading function
Answer:
E
Question:
Norris believes that as a marketer, he should always
create an atmosphere of openness in his work with other
departments. Which ethical value from the American
Marketing Association Statement of Ethics does Norris
embody?
A. honesty
B. responsibility
C. transparency
D. respect
E. citizenship
Answer:
C
Question:
Which activity is part of the production process?
A. deciding whether to sell goods directly to consumers
or through retailers
B. identifying competing companies
C. determining how many people will want to purchase
goods or services
D. estimating the prices potential customers are willing to
pay
E. making goods or performing services
Answer:
E
Question:
Which statement is an example of the micro-macro
dilemma?
A/. Nuclear power will reduce your fuel bill and provide
clean energy.
B/. Smoking cigarettes is considered a bad habit, but
many people do it anyway.
C/. Having a dog or cat can be more expensive than
people realize.
D/. Driving an expensive car makes you look successful.
E. Aluminum soft drink cans are convenient, but they are
