Understanding Marketing Concepts Quiz

New forms of advertising emerge with new technologies.

• True

• False

Once a business creates a successful product, it does not need to worry about marketing.

• True

• False

Which is the best interpretation of the saying "The customer is always right"?

• Businesses are often wrong.

• Businesses must serve all customers.

• Businesses should do their best to satisfy customers.

• Businesses always need to do what customers demand.

A car manufacturer notices that customers are increasingly buying its most fuel-efficient models. At the same time, its top two luxury models also account for a significant number of sales. How could this information about the market help the manufacturer develop future models?

• It suggests that consumers are only interested in fuel-efficient vehicles.

• It indicates that value is what customers are looking for in cars.

• It tells the manufacturer the qualities that consumers are looking for.

• It indicates that luxury models should be the primary focus of future marketing efforts.

One example of focusing on society is trying to solve problems through products.

• True

• False

Which of these businesses would be best suited for a customer loyalty program?

• a car dealership in a large city

• a sandwich shop in a small town

• an appliance store that is a national chain

• a convenience store at a freeway rest stop

Julio wants to open a sporting goods store. Which is a good first step for marketing the business?

• accepting cash from a customer purchasing a product

• holding regular staff meetings to go over employee benefits

• hiring an attorney to review all contracts associated with the business

• researching the most likely customers and how to reach them

Which is the most plausible reason that the energy industry spends the least on marketing?

• There is little competition among energy providers.

• Most energy companies are legally prohibited from marketing.

• Standards for customer service are different in the energy industry.

• There is a very small market for energy so little marketing is needed.

Branding is the message, and marketing is how the message is delivered.

• True

• False

Which example would be the best opportunity to keep with the branding of a high-powered luxury sports car?

• photo of the car besides mid-level model

• advertise on news radio stations in large cities

• highlight the safety features of the car in magazine ads

• have celebrities drive the car and post images on social media