Chapter 1

Question 1

Which is NOT part of a marketing exchange?

a. Sellers provide products or services
b. Sellers communicate and facilitate delivery
c. Marketers assess the effectiveness of their advertising
d. Buyers complete the exchange by giving money

Answer 1

c. Marketers assess the effectiveness of their advertising

Question 2

Promotion is ______ by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response.

a. smoke-and-mirrors
b. coercion
c. teasing
d. communication

Answer 2

d. communication

Question 3

What must firms do to become value-driven?

a. share information, balance benefits and costs, and build customer relationships
b. Set low prices, put profit above service, and use effective marketing strategies
c. Make logistics a priority, expand globally, and always offer new goods and services
d. Keep a vigilant eye on the market-place, undeecit competitors, and provide competitive salaries

Answer 3

a. share information, balance benefits and costs, and build customer relationships

Question 4

Which of the following would NOT be considered part of a supply chain?

a. consumer
b. manufacturer
d. customer service representative

Answer 4

d. customer service representative