Question 1

The five major environmental forces in a marketing decision are

Accepted Answer

A)  climate change, natural resources, pollution, natural disasters, and global conflict (war) .
B)  social, technological, economic, competitive, and regulatory.
C)  corporate ownership, internal management, supplier partnerships, strategic alliances, and customer relationships.
D)  product, price, promotion, place, and people.
E)  ethics, sustainability, cultural awareness, diversity, and values.F) None of the above
G) A) and B)

Question 2

A product

Accepted Answer

A)  consists of the benefits or customer value received by its sellers.
B)  is the cluster of benefits that an organization promises customers to satisfy their needs.
C)  is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.
D)  consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
E)  is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of valueF) B) and D)
G) A) and B)

Question 3

Relationship marketing refers to

Accepted Answer

A)  the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers.
B)  the belief that it is easier and less expensive to find new customers than to retain old ones.
C)  the linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
D)  the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
E)  exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.F) A) and B)
G) B) and E)

Question 4

The marketing mix refers to

Accepted Answer

A)  the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line.
B)  the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling.
C)  the marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem.
D)  the allocation of resources within a firm towards individual marketing programs.
E)  the environmental forces - social, economic, technological, competitive, and regulatory - that impact the marketing decisions for a particular product at any given timE.Key term definition - marketing mix.F) C) and D)
G) B) and E)

Question 5

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

Accepted Answer

A)  the best airport experience.
B)  the most convenient flight schedules.
C)  the best price for the distance traveled.
D)  the best in-flight service.
E)  the greatest sense of personal safety.F) A) and D)
G) A) and E)

Question 6

Michelin's __________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Accepted Answer

A)  customer value proposition
B)  protocol
C)  mission statement
D)  core values
E)  marketing programF) C) and E)
G) C) and D)

Question 7

Based on the marketing program 3M developed for its Post-it Flag Highlighters and Post-it Flag Pens, one can conclude that

Accepted Answer

A)  the market segments for Post-it Flag Highlighters and Post-it Flag Pens are identical.
B)  the market segments for Post-it Flag Highlighters and Post-it Flag Pens are not realistic.
C)  the Post-it Flag Highlighters and Post-it Flag Pens are priced unreasonably for the target markets.
D)  the prices for 3M's Post-it Flag Highlighters and Post-it Flag Pens are set to maximize 3M's profits, not its distributors' profits.
E)  the promotion strategy is designed to increase awareness among potential users.F) D) and E)
G) C) and D)

Question 8

Assume you are a salesperson for a direct marketing firm that does "in-home" jewelry parties. If most of your hosts or hostesses hold only one party a year, what strategies could you use to build strong customer relationships? If you are creating your own business for this example, make sure to describe your product(s) in your introductory sentence.

Accepted Answer

A quality answer should have a strong em...

Question 9

Market segments refer to

Accepted Answer

A)  the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)  all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)  the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)  the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E)  all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.F) A) and D)
G) B) and C)

Question 10

The marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem are referred to as(the)  __________.

Accepted Answer

A)  marketing concept
B)  marketing mix
C)  marketing program
D)  environmental forces
E)  marketing toolboxF) All of the above
G) A) and B)

Question 11

The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Accepted Answer

A)  purchasing
B)  marketing
C)  human resources
D)  accounting
E)  information systemsF) B) and C)
G) A) and E)

Question 12

Four factors are required for marketing to occur: (1)  two or more parties (individuals or organizations)  with unsatisfied needs; (2)  a desire and ability on their part to be satisfied; (3)  __________; and (4)  something to exchange.

Accepted Answer

A)  a way for the parties to communicate
B)  a healthy competitive environment
C)  an affordable and actionable advertising campaign
D)  a sense of social responsibility
E)  an ability to see hidden potential within an environmental forceF) C) and D)
G) None of the above

Question 13

In addition to consumers, what other people, groups, and environmental forces interact to influence an organization's marketing activities?

Accepted Answer

Foremost is the organization itself, who...

Question 14

Marketing discovers consumer needs by

Accepted Answer

A)  implementing a marketing program.
B)  conducting effective marketing research.
C)  balancing the marketing mix elements - the 4 Ps of the marketing program.
D)  advertising to diverse groups of prospective buyers.
E)  copying the products and services of competitors.F) B) and E)
G) A) and D)

Question 15

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. This statement is most closely related to the __________ element of the marketing mix.

Accepted Answer

A)  product
B)  philanthropy
C)  price
D)  place
E)  promotionF) None of the above
G) All of the above

Question 16

The entirely new food category Chobani launched in 2005 was

Accepted Answer

A)  Italian-style ragù sauce.
B)  Turkish-style cottage cheese.
C)  French-style butter.
D)  Greek-style yogurt.
E)  Oriental-style teriyaki sauce.F) A) and E)
G) None of the above

Question 17

Initially, Facebook targeted which consumer market segment?

Accepted Answer

A)  grade school children ages 6 to 12 years old
B)  high school students
C)  college students
D)  adults with professional occupations
E)  senior adults 55 years and olderF) D) and E)
G) All of the above

Question 18

Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.

Accepted Answer

Marketing creates utility, the benefits ...

Question 19

The Arizona Biltmore in Phoenix is a resort hotel located less than a mile away from the Biltmore Fashion Park, a large upscale shopping mall. The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states. Which of the following marketing actions would most likely help The Arizona Biltmore communicate with potential convention attendees?

Accepted Answer

A)  Place an ad in the in-flight magazines of all the major airlines targeting business/first class flyers.
B)  Send a mass mailing to all local businesses.
C)  Set up information kiosks at several locations within the Biltmore Fashion Park.
D)  Offer free made-to-order breakfasts for guests staying at the hotel on business.
E)  Offer special discount rates to guests coming from the East Coast.F) B) and C)
G) A) and C)

Question 20

A factor that might doom a product in the marketplace is referred to as a(n)  __________.

Accepted Answer

A)  albatross
B)  land mine
C)  pit fall
D)  showstopper
E)  wild cardF) B) and D)
G) A) and B)

Exam 1: Creating Customer Relationships and Value Through Marketing

Market segments refer to

Correct Answer
verified

A product

Correct Answer
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The marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem are referred to as(the) __________.

Correct Answer
verified

Correct Answer
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A quality answer should have a strong em...
View Answer

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. This statement is most closely related to the __________ element of the marketing mix.

Correct Answer
verified

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Correct Answer
verified

Initially, Facebook targeted which consumer market segment?

Correct Answer
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The marketing mix refers to

Correct Answer
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The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Correct Answer
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Michelin's __________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Correct Answer
verified

The five major environmental forces in a marketing decision are

Correct Answer
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The entirely new food category Chobani launched in 2005 was

Correct Answer
verified

Relationship marketing refers to

Correct Answer
verified

Correct Answer
verified

In addition to consumers, what other people, groups, and environmental forces interact to influence an organization's marketing activities?

Correct Answer
verified
Foremost is the organization itself, who...
View Answer

Based on the marketing program 3M developed for its Post-it Flag Highlighters and Post-it Flag Pens, one can conclude that

Correct Answer
verified

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Correct Answer
verified

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

Correct Answer
verified

Marketing discovers consumer needs by

Correct Answer
verified

Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.

Correct Answer
verified
Marketing creates utility, the benefits ...
View Answer

Exam 1: Creating Customer Relationships and Value Through Marketing

Market segments refer to

Correct AnswerverifiedShow Answer

A product

Correct AnswerverifiedShow Answer

The marketing manager's controllable factors - product, price, promotion, and place - that can be used to solve a marketing problem are referred to as(the) __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedA quality answer should have a strong em...View AnswerShow Answer

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. This statement is most closely related to the __________ element of the marketing mix.

Correct AnswerverifiedShow Answer

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Correct AnswerverifiedShow Answer

Initially, Facebook targeted which consumer market segment?

Correct AnswerverifiedShow Answer

The marketing mix refers to

Correct AnswerverifiedShow Answer

The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Correct AnswerverifiedShow Answer

Michelin's __________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Correct AnswerverifiedShow Answer

The five major environmental forces in a marketing decision are

Correct AnswerverifiedShow Answer

The entirely new food category Chobani launched in 2005 was

Correct AnswerverifiedShow Answer

Relationship marketing refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In addition to consumers, what other people, groups, and environmental forces interact to influence an organization's marketing activities?

Correct AnswerverifiedForemost is the organization itself, who...View AnswerShow Answer

Based on the marketing program 3M developed for its Post-it Flag Highlighters and Post-it Flag Pens, one can conclude that

Correct AnswerverifiedShow Answer

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

Correct AnswerverifiedShow Answer

Marketing discovers consumer needs by

Correct AnswerverifiedShow Answer

Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.

Correct AnswerverifiedMarketing creates utility, the benefits ...View AnswerShow Answer

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A quality answer should have a strong em...
View Answer

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Foremost is the organization itself, who...
View Answer

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Correct Answer
verified
Marketing creates utility, the benefits ...
View Answer