1. People in emerging countries today are becoming increasingly health conscious and are seeking healthy food choices. As a result, demand for health foods is rising steadily, creating an opportunity for marketers to exploit this ________ market.
a. need
b. service
c. business
d. demographic
e. geographic
2. When demand is ________, it implies that more customers would like to buy the product than
can be satisfied.
a. irregular
b. overfull
c. full
d. latent
e. negative
3. ________ reflects a customer’s judgment of a product’s performance in relation to his or her
expectations.
a. Brand image
b. Brand equity
c. Value
d. Perception
e. Satisfaction
4. Rising promotion costs and shrinking profit margins are the result of ________.
a. new and improved technology
b. disintermediation
c. industry convergence
d. heightened competition
e. privatization
5. Industry boundaries are blurring rapidly as companies identify new opportunities at the
intersection of two or more industries. This is called ________.
a. customization
b. disintermediation
c. privatization
d. industry convergence
e. globalization
6. When eBay and Amazon.com cut out the majority of middlemen that normally would participate
in the exchange process, it is an example of ________.
a. diversification
b. deregulation
c. reintermediation
d. disintermediation
e. reverse auctioning
7. Which of the following holds that consumers prefer products that are widely available and
inexpensive?
a. the marketing concept
b. the product concept
c. the production concept
d. the selling concept
e. the performance concept
8. Which of the following categories of goods and services is most likely to require an aggressive
use of the selling concept?
a. shopping goods
b. luxury goods
c. unsought goods
d. complementary goods
e. necessary goods
9. Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond
philosophy.
a. the holistic marketing concept
b. the selling concept
c. the marketing concept
d. the production concept
e. the product concept
