Oxford University Press | Online Resource Centre

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Question 1

One of the following is the correct definition of marketing used by the Chartered Institute of Marketing and the others are fundamentally flawed. Which one is correct?

a) The selling process which results from the identification and anticipation of customer requirements.

b) The strategic business function that creates value by stimulating, facilitating and fulfilling customer demand-it does this by building brands, nurturing innovation, developing relationships, creating good customer service and communicating benefits.

c) An accounting process of minimising costs and maximising revenues.

d) The supply of goods and services to customers in such a way that the company becomes the preferred source of supply for customers.

Question 2

A builder who has a full order book during a period of economic prosperity and leaves his potential customers waiting for work to be completed is most likely showing what type of business orientation?

a) Marketing orientation

b) Selling orientation

c) Production orientation

d) Societal orientation

Question 3

How old are the principles and practices of marketing? Which of the following represent the oldest instances of individuals or organizations practising the principles of marketing?

a) The traders of ancient Greece

b) Textile companies in Victoria England

c) American Soap powder manufacturers in the 1930s

d) Service based companies from the 1960s

Question 4

Is marketing an art or a science? Marketing differs from the natural sciences because:

a) Marketing tends to deal with open systems whereas the natural sciences tend to deal with closed systems.

b) Marketing tends to deal with closed systems whereas the natural sciences tend to deal with open systems.

c) It is impossible to develop a systems perspective for marketing, unlike the natural sciences.

d) It is impossible to develop a systems perspective for the natural sciences, unlike marketing.

Question 5

Positivist approaches to marketing are essentially based on which of the following approaches?

a) In depth case studies of consumers.

b) Uncovering the real underlying truth about consumer emotions.

c) Methodologies which are robust and repeatable.

d) Methodologies which seek to uncover positivist and negative attitudes about a product.

Question 6

During the late 1990s, retailers of organic vegetables in the UK were unable to be truly market oriented because:

a) No market for organic produce existed.

b) Organic produce was too expensive.

c) Demand was too low to justify supply.

d) There was poor and intermittent supply of organic produce.

Question 7

Peter Drucker noted the relationship between selling and marketing in the following terms:

a) Marketing is a subsidiary component of selling.

b) The aim of marketing is to make selling superfluous.

c) The aim of selling is to make marketing superfluous.

d) Selling and marketing are essentially the same thing.

Question 8

Which of the following statements is NOT true about the concept of a customer?

a) A customer and consumer are always the same thing - the terms are completely interchangeable.

b) Customers can be described as clients.

c) A customer doesn't necessarily consume the product that they have purchased.

d) Students can be described as customers of a university.

Question 9

Which of the following is the best definition of value?

a) A technical measure of a company's selling price relative to its production costs.

b) A measure of the mark-up charged by companies.

c) The lowest prices available to consumers.

d) The ratio of benefits to costs available to buyers.

Question 10

Which of the following is NOT usually defined as an element of the marketing mix?

a) Products

b) People

c) Place

d) Profits

Oxford University Press, Online Resource Centre, Chapter 01.

Chapter 01

Instructions