14 Aug Question 1A market in which there are more buyers for fewer goods and services i

Question 1A market in which there are more buyers for fewer goods and services is known as a:sellers market.monopoly.buyers market.oligopoly.2.5 points Question 2In the relationship era, firms focus on:short-term relationships with suppliers.long-term relationships with customers and suppliers.short-term relationships with customers and suppliers.short-term relationships with customers.2.5 points Question 3The organizational function and set of processes that creates, communicates, and delivers value to customers and manages customer relationships in ways that benefit the organization and its stakeholders is called _____.marketingfinancingoperationsadministration2.5 points Question 4The basic objective of place marketing is to:attract visitors or new businesses to a particular area.influence others to accept the goals of the sponsoring organization.convince people to attend a sporting or cultural event.bring to the attention of the public some charitable issue.2.5 points Question 5Convenience stores and vending machines are responsible for creating all of the following utilitiesexcept:ownership utility.form utility.time utility.place utility.2.5 points Question 6If a company such as J.B. Trucking wanted to avoid marketing myopia, it should define its business as:a provider of transportation solutions.a trucking company.a materials handling company.a freight hauling firm.2.5 points Question 7A buyers market is characterized by:more goods and services than buyers to buy them.a small number of firms dominating the production of goods offered.practically no competition in the marketplace.a single firm producing a major share of the products or services offered.2.5 points Question 8The failure of the management of a firm to recognize the scope of its business is referred to as:disintermediation.intermodal operations.marketing myopia.management dystopia.2.5 points Question 9The term bottom line is a reference to:overall company profitability.a firms social responsibility.the limits on marketing budgets.the ethical and social viability of marketing.2.5 points Question 10Assume you want to increase the number of customers by applying the marketing concept. Which of the following strategies would be most consistent with this approach?Reduce product costsTarget marketsOffer more product variety than competitorsProduce goods of higher quality2.5 points 2.5 points 2.5 points 2.5 points 2.5 points 2.5 points 2.5 points 2.5 points 2.5 points

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