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According to the text, marketing means:

        more than selling and advertising.

A department store extends its hours of operation during the holiday season. This is an example of:

            time utility

Men's Outlet Store purchases clothing manufacturers' excess inventories of suits and sells them at a substantial discount through its chain of stores. When a customer purchases a suit, any necessary alterations are done immediately by tailors at the store. In this situation, Men's Outlet Store creates:

        task, time, place and possession utility

Micro-marketing is concerned with customers and the organizations that serve them

        True

Which of the following statements best describes the modern view of marketing?       

        Marketing begins with potential customer needs

MACRO-marketing:

        emphasizes how the whole marketing system works

Economies of scale" prevent a company from taking advantage of mass production

        False

The standardization and grading function of marketing involves

        sorting products according to size and quality

Which of the following statements about the "universal functions of marketing" is FALSE?

        These functions do not have to be performed in all macro-marketing systems

Which of the following is MOST likely to be classified as a marketing facilitator?

        Wyatt Shipping and Transfer Company

In a planned economic system, producers generally have little choice about what goods and services to produce.

        True

Which of the following statements about a market-directed economic system is TRUE

        Consumers enjoy substantial freedom of choice

Which of the following statements is MOST characteristic of the "production era

        There is no limit

Administrators at a university noted that they were 200 students short of their enrollment projection as the start of the school year approached

        Sales era

The three basic ideas in the marketing concept are: 1) customer satisfaction; 2) confining marketing activities to marketing professionals; and

        False

A producer with a marketing orientation is MOST likely to

        Distribute the product according to the needs customers have for product availability

In a firm that has a total company effort in implementing the marketing concept

        Departments—even very specialized ones--are guided by what customers want

A local theatre group that has adopted the marketing concept would be MOST likely to

        Do a survey to find out what new shows patrons would like to see

Customer value is best viewed from the perspective of the marketing manager, not the consumer

        False

Which of the following statements about customer value is TRUE

        Retaining current customers is usually less costly than taking customers away from a competitor

Which of the following organizations should apply the marketing concept

        All of the above

Which of the following is an example of the "micro-macro dilemma

        A restaurant owner uses plastic containers to keep "take-out" food warm for customers, but the containers cannot be reused or recycled

Which of the following statements is TRUE regarding social responsibility in marketing

        Only A and B above