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1. The element of the marketing mix used to increase awareness of a product or company is Answer [removed] communication. [removed] product. [removed] price. [removed] distribution. [removed] 2. Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is Answer [removed] risk. [removed] time. [removed] monetary price. [removed] effort. [removed] availability. 3. Marketing knowledge and skills Answer [removed] are not necessary for a nonprofit organization. [removed] enhance consumer awareness and help provide people with satisfying goods and services. [removed] constitute the marketing mix. [removed] were most important during the production era. [removed] are most valuable for advertising executives but less important for wholesalers and distributor 4. The focal point of all marketing activities is Answer [removed] products. [removed] the marketing mix. [removed] profits. [removed] sales. [removed] customers. 5. ____ is the degree to which an exchange helps achieve an organization's objectives. Answer [removed] Controlling [removed] Effectiveness [removed] Success rate [removed] Efficiency [removed] Objectivity 6. In managing customer relationships, the three primary ways profits can be obtained are by Answer [removed] acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers. [removed] enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers. [removed] extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers. [removed] eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers. [removed] enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers. 7. The marketing concept is best defined as Answer [removed] a second definition of marketing. [removed] a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals. [removed] the performance of business activities that direct the flow of goods and services from producer to customer or user. [removed] a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers. [removed] the inclusion of marketing activities in the activities of an organization. 8. The equation a buyer applies to assess a product's value is Answer [removed] value = monetary price – customer benefits. [removed] value = customer costs – customer benefits. [removed] value = customer benefits – customer costs. [removed] value = customer benefits – monetar.

Education

monetary price.
[removed]
effort.
[removed]
availability.
3.
Marketing knowledge and skills
Answer
[removed]
are not necessary for a nonprofit organization.
[removed]
enhance consumer awareness and help provide people with
satisfying goods and services.
[removed]
constitute the marketing mix.
[removed]
were most important during the production era.
[removed]
are most valuable for advertising executives but less important
for wholesalers and distributor
4.
The focal point of all marketing activities is
Answer
[removed]

products.
[removed]
the marketing mix.
[removed]
profits.
[removed]
sales.
[removed]
customers.
5.
____ is the degree to which an exchange helps achieve an
organization's objectives.
Answer
[removed]
Controlling
[removed]
Effectiveness
[removed]
Success rate
[removed]
Efficiency
[removed]
Objectivity
6.

In managing customer relationships, the three primary ways
profits can be obtained are by
Answer
[removed]
acquiring new customers, enhancing the profitability of new
customers, and shortening the duration of relationships with
existing customers.
[removed]
enhancing the profitability of existing customers, eliminating
customers who provide smaller profits, and finding new
customers.
[removed]
extending the length of relationships with customers, cutting
organizational costs, and enhancing the profitability of new
customers.
[removed]
eliminating long-term customers who have decreased purchases,
finding new customers, and increasing sales to existing
customers.
[removed]
enhancing the profitability of existing customers, extending the
duration of relationships with customers, and obtaining new
customers.
7.
The marketing concept is best defined as
Answer
[removed]

a second definition of marketing.
[removed]
a philosophy stating that an organization should try to satisfy
customers' needs through a coordinated set of activities that
allows the organization to achieve its goals.
[removed]
the performance of business activities that direct the flow of
goods and services from producer to customer or user.
[removed]
a philosophy stating that an organization should attempt to
accomplish its goals with no regard for the needs of customers.
[removed]
the inclusion of marketing activities in the activities of an
organization.
8.
The equation a buyer applies to assess a product's value is
Answer
[removed]
value = monetary price – customer benefits.
[removed]
value = customer costs – customer benefits.
[removed]
value = customer benefits – customer costs.
[removed]
value = customer benefits – monetary price.
[removed]

value = customer benefits – time and effor
9.
____ refers to minimizing the resources an organization must
spend to achieve a specific level of desired exchanges.
Answer
[removed]
Effectiveness
[removed]
Productivity
[removed]
Efficiency
[removed]
Objectivity
[removed]
Cost cutting
10.
Marketing management is defined as a process of
Answer
[removed]
maintaining an appropriate and efficient marketing mix for a
target market.
[removed]
establishing performance standards and evaluating actual
performances against these standards.
[removed]

providing products that satisfy customers' needs through a
coordinated set of activities.
[removed]
facilitating satisfying exchanges between an organization and
its customers.
[removed]
planning, organizing, implementing, and controlling marketing
activities

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