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d. value e. relationships Answer: d Page: 14 Level of difficulty: Medium Chapter 1: Defining Marketing for the 21st Century 5 20. Rising promotion costs and shrinking profit margins are the result of ________. a. changing technology b. globalization c. deregulation d. privatization e. heightened petition Answer: e Page: 14 Level of difficulty: Hard 21. Industry boundaries are blurring at an incredible rate as panies are recognizing that new opportunities lie at the intersection of two or more industries—this is called ________. a. globalization b. customization c. industry convergence d. heightened petition e. acquisition Answer: c Page: 14 Level of difficulty: Medium 22. In response to giant retailers and category killers, entrepreneurial retailers are building entertainment into stores with coffee bars, lectures, demonstrations, and performances. They are marketing a(n) ________ rather than a product assortment. a. experience b. customer value c. customer delight d. total service solution e. intangible benefit(s) Answer: a Page: 15 Level of difficulty: Medium 23. In response to threats from such panies as AOL, Amazon, Yahoo, eBay, E’TRADE, and dozens of others, established manufacturers and retailers became ―brickandclick‖ oriented by adding online services to their existing offerings. This process became known as ________. a. reintermediation b. disintermediation c. emerce d. ecollaboration e. new market synchronization Answer: a Page: 15 Level of difficulty: Hard Part 1: Understanding Marketing Management 6 24. Many brickandclick petitors became stronger contenders in the marketplace than the pureclick firms because they had a larger pool of resources to work with and ________. a. better prices b. greater value c. wellestablished brand names d. oneonone munications e. direct selling capability Answer: c Page: 15 Level of difficulty: Medium 25. The ________ is practiced most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance, encyclopedias, and funeral plots. a. marketing concept b. selling concept c. production concept d. product concept e. holistic marketing concept Answer: b Page: 15 Level of difficulty: Medium 26. The ________ concept holds that consumers will favor those products that offer the most quality, performance, or innovative features. a. product b. marketing c. production d. selling e. holistic marketing Answer: a Page: 15 Level of difficulty: Easy 27. The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the anization’s products. a. production b. selling c. marketing d. product e. holistic marketing Answer: b Page: 15 Level of difficulty: Medium 28. Several scholars have found that panies who embrace the marketing concept achieve superior performance. This was first demonstrated for panies practicing a ________—understanding and meeting customers’ expressed needs. a. reactive market orientation b. proactive marketing orientation c. total market orientation d. impulsive market orientation e. holistic market orientation Answer: a Page: 16 Level of difficulty: Medium Chapter 1: Defining Marketing for the 21st Century 7 29. According to Theodore Levitt, who drew a perceptive contrast between the selling and marketing concepts, ________ is preoccupied with the need to convert products into cash. a. marketing b. selling c. direct marketing d. holistic marketing e. service marketing Answer: b Page: 16 Level of difficulty: Medium 30. In the course of converting to a marketing orientation, a pany faces three hurdles—________. a. anized resistance, slow learning, and fast fetting b. management, customer reaction, petitive response c. decreased profits, increased Ramp。D, additional distribution d. forecasted demand, increased sales expense, increased inventory costs e. customer focus, profitability, slow learning Answer: a Page: 16 Level of difficulty: Hard 31. Companies that practice both a reactive and proactive marketing orientation are implementing a ________ and are likely to be the most successful. a. total market orientation b. external focus c. customer focus d. petitive, customer focus e. confrontation process Answer: a Page: 16 Level of difficulty: Medium 32. Marketers argue for a ________ in which all functions work together to respond to, serve, and satisfy the customer. a. crossfunctional team orientation b. collaboration model c. customer orientation d. managementdriven anization e. total quality model Answer: c Page: 16 Level of difficulty: Medium 33. ________ can be seen as the development, design, and implementation of marketing programs, processes, and activities that recognizes the breadth and interdependencies of their effects. a. Niche marketing b. Holistic marketing c. Relationship marketing d. Supplychain marketing e. Demandcentered marketing Answer: b Page: 17 Level of difficulty: Medium Part 1: Understanding Marketing Management 8 34. ________ marketing has the aim of building mutually satisfying longterm relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business. a. Holistic b. Demandbased c. Direct d. Relationship e. Synthetic Answer: d Pages: 17–18 Level of difficulty: Easy 35. Companies who form a ________ collect information on each customer’s past transactions, demographics, psychographics, and media and distribution preferences. a. sales work b. holistic union c. marketing work d. supplychain work e. integrated work Answer: c Page: 18 Level of difficulty: Har