Name__________________________Row__________Marketing 3213Summer 2011Distance LearningExam 1Do not open this booklet until instructed to do so.Darken the correct answer to each of the questions on the answer sheet. If you have any questions please ask the proctor. When you have completed the exam, hand in the exam and answer sheet to the proctor.1. Which one of the following major elements of the external business environment is thought to be the most dangerous because it is intelligent and can react to the firm?a. legalb. naturalc. socioculturald. economye. competitor2. Using the marketing concept, which of the following is true?a. The accounting department never affects the activities of the marketing department.b. The finance people almost always agree with the viewpoints of the marketing department.c. Engineering will have no conflicts with the way marketing people want the products to be made.d. The salespeople will usually go along with the advertising department.e. All departments need to be guided by an integrated, company-wide effort.3. In the movie The Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners. Their job was difficult, in part because the supply of aluminum siding surpassed the demand for the product and competition was intense. This situation is indicative of the _____ orientation of U.S. business.a. productionb. salesc. marketing conceptd. market orientatione. societal marketing4. What kinds of organizations engage in marketing?a. only those that can afford national advertisingb. only very large and established nonprofit organizationsc. Fortune 500 companies exclusivelyd. Every type of organization markets.e. The only type of organization that markets is the one that wants to make a profit.5. A company’s marketing mix ordinarily does not include its:a. production.b. pricing.c. product.d. promotion.e. distribution.6. Dow Chemical Company’s historical dealings with latex (an example given in class) illustrates that:a. the marketing environment is fairly constant.b. marketing operates in a vacuum.c. many marketers use deceptive business practices.d. environmental changes may be viewed as opportunities rather than disasters.e. latex will always be a profitable product.17. The “Benny Labarr” story given in class illustrates:a. the importance of time management.b. how hard it is to be successful.c. how little effort is takes to be “great.”d. the role of market segmentation in job hunting.e. all of the above.8. Which of the following utilities does marketing not create?a. being informed about the usefulness of the productb. the convenience of buying a product locally rather than from the place of productionc. forming a product from raw materialsd. being able to buy antifreeze when it is really needede. Marketing actually creates all of the above.9. You have arranged for your company’s production personnel to meet with your customer’s production personnel. This is an example of creating:a. a structural bond.b. a codependent bond.c. a financial tie.d. a social bond.e. all of the above.10. “Exchange” refers to:a. the trade of things of value between buyer and seller so that each is better off after the trade.b. the replacement of one product for another product of equal or greater value as compensation for a product that failed to meet expectations.c. the proffering of money, whether in the form of cash, check, or credit card, for a product or service at the time of purchase.d. a legally binding agreement to purchase a product or service allowing for a grade period of three days during which the contract can be dissolved without penalty.e. an international agency with the responsibility of determining relative values for currency throughout the world on a daily basis; also referred to as the foreign exchange rate.11. Which of the following statements about the study of marketing is most accurate?a. Unless you take a marketing class, you will never truly know anything about marketing.b. Marketing is nothing more than common sense; unfortunately, most people have none.c. Marketing cannot really be taught. It requires an innate sense of creativity; you either have it or you don’t.d. You are already a marketing expert because as a consumer, you have already been involved in marketing decisions.e. You can call yourself a marketing expert only if you have been in sales (even if you only sold something asa child).12. The “graying of America” refers to:a. the effects of air pollution.b. the aging of the U.S. population.c. a term used to describe discretionary income.d. an age cohort.e. a slogan for those over fifty.13. Typically, most believe that a profit-making organization’s goal is to maximize profit. Which of the following may also be a profit-making organization’s goal?a. qualityb. social responsibilityc. employee welfared. market sharee. all of the above14. Goals are important to the firm because:a. they form a reference point.b. the firm can be concentrated toward a goal.c. they aid decision making.d. all of the above.e. none of the above.15. Which of the following about organizational goals is true?a. The terms “goals” and “objectives” can be used interchangeably.b. In an organization, goals exist at the corporate, business, and functional levels.c. All lower-level goals should contribute to the achievement of higher-level goals.d. Goals convert an organization’s mission into targeted levels of performance to be achieved.e. All of the above statements accurately describe organizational goals.16. The second part of the marketing strategy definition is to develop a marketing mix. The developed marketing mix should specifically do what?a. Be as inexpensive as possible.b. Satisfy the chosen target.c. Be creative.d. Create fun for your employees.e. none of the above17. Which of the following statements regarding the blending of the marketing mix is false?a. Companies offering similar or even identical products can have vastly different marketing mixes.b. The marketing mix should not change much once the planning and testing of the plan has been completed.c. Even though marketers spend thousands of hours researching and studying, there are no pat solutions inmarketing.d. Differences between marketing mixes will vary greatly depending on the product being offered.e. An ever-changing environment ensures that the marketing mix must be a dynamic