Answer the following questions and then press 'Submit' to get your score.
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] Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
c] An accounting process of minimizing costs and maximizing 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 best 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