Question 1

Explain the marketing program that 3M used to reach the student target market for the Post-it® Flag Highlighter and the rationale used for each element of the marketing mix.

Accepted Answer

Answers should address all four "Ps." (1...

Question 2

All markets ultimately are composed of __________.

Accepted Answer

A)  people
B)  brands
C)  products
D)  organizations
E)  governmentsF) A) and E)
G) A) and B)

Question 3

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

Accepted Answer

A)  marketing doesn't apply to the voting process
B)  the desire and ability to satisfy needs is missing
C)  there is no direct way for the parties to communicate
D)  something to exchange is missing
E)  there is only one party involved in this situationF) None of the above
G) All of the above

Question 4

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 yogurt.
D)  Greek-style yogurt.
E)  Oriental-style teriyaki sauce.F) A) and E)
G) A) and B)

Question 5

Which of the following statements best describes a service?

Accepted Answer

A)  Services are physical objects.
B)  Services are intangible items.
C)  Services are thoughts about concepts,actions,or causes.
D)  Services are the benefits organizations receive in exchange for selling products.
E)  Services comprise the subset of tangible features of products.F) B) and E)
G) B) and D)

Question 6

All of the following are true about marketing EXCEPT:

Accepted Answer

A)  Marketing is a broader activity than advertising.
B)  Marketing stresses the importance of delivering genuine benefits in the offerings of goods,services,and ideas sold to customers.
C)  Marketing persuades people to buy the "wrong" things.
D)  When an organization engages in marketing,all stakeholders should benefit.
E)  Marketing is a broader activity than personal selling.F) A) and E)
G) C) and E)

Question 7

The element of the marketing mix that describes what is exchanged for a product is known as

Accepted Answer

A)  a product.
B)  the price.
C)  promotion.
D)  the place or distribution.
E)  productivity.F) C) and E)
G) None of the above

Question 8

The four Ps of the marketing mix are

Accepted Answer

A)  priorities,personnel,placement,and profits.
B)  prediction,production,pricing,and promotion.
C)  product,price,production,and place.
D)  product,price,promotion,and place.
E)  predict,produce,package,and persuade.F) All of the above
G) B) and D)

Question 9

Utility refers to

Accepted Answer

A)  the number of alternative uses or benefits that can be provided by a single product or service.
B)  the adaptability of a marketing program to adjust to changes in the marketing environment.
C)  the benefits or customer value received by users of the product.
D)  the fixed costs associated with the production of a single unit of a product within a product line.
E)  the variable costs associated with the production of a single unit of a product within a product line.F) A) and B)
G) All of the above

Question 10

In Figure 1-2 above,"C" represents an organization's ownership with

Accepted Answer

A)  other organizations.
B)  suppliers.
C)  customers.
D)  other departments.
E)  shareholders.F) None of the above
G) B) and C)

Question 11

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals reflects the

Accepted Answer

A)  concept of synergy.
B)  marketing concept.
C)  principle of customer relationship management.
D)  societal marketing concept.
E)  consumerism concept.F) A) and B)
G) All of the above

Question 12

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 13

A need refers to

Accepted Answer

A)  a sense of personal inadequacy based upon observations by others around you.
B)  a sense of urgency,which causes a person to take action.
C)  a feeling that is shaped by a person's knowledge,culture,or personality.
D)  a feeling of being deprived of something,but not fully understanding what it may be.
E)  a situation when a person feels deprived of basic necessities such as food,clothing,and shelter.F) A) and B)
G) All of the above

Question 14

The benefits or customer value received by users of a product is called __________.

Accepted Answer

A)  utility
B)  synergy
C)  consumerism
D)  cost-benefit ratio
E)  customer lifetime valueF) C) and D)
G) A) and C)

Question 15

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) A) and B)
G) C) and D)

Question 16

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Accepted Answer

Exchange is the trade of things of value...

Question 17

Add your own personal experience and creativity to what you have just learned about marketing.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

Accepted Answer

A quality answer will include multiple t...

Question 18

The internal response that customers have to all aspects of an organization and its offerings is referred to as __________.

Accepted Answer

A)  customer experience
B)  relationship marketing
C)  internal customer audit
D)  internal marketing
E)  customer relationship managementF) C) and E)
G) D) and E)

Question 19

In Figure 1-5 above,letter "B" represents which era in U.S.business history?

Accepted Answer

A)  sales era
B)  production era
C)  age of consumerism
D)  marketing concept era
E)  customer relationship eraF) A) and D)
G) A) and B)

Question 20

Social responsibility is

Accepted Answer

A)  the view that organizations should satisfy the needs of consumers in a way that provides for society's well being.
B)  the fundamental,passionate,and enduring principles of an organization that guide its conduct over time.
C)  the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
D)  the idea that individuals and organizations are accountable to a larger society.
E)  the recognition of the need for organizations to improve the state of people,the planet,and profit simultaneously if they are to achieve sustainable,long-term growth.F) A) and C)
G) A) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

Add your own personal experience and creativity to what you have just learned about marketing.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

Correct AnswerverifiedA quality answer will include multiple t...View AnswerShow Answer

Explain the marketing program that 3M used to reach the student target market for the Post-it® Flag Highlighter and the rationale used for each element of the marketing mix.

Correct AnswerverifiedAnswers should address all four "Ps." (1...View AnswerShow Answer

Utility refers to

Correct AnswerverifiedShow Answer

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals reflects the

Correct AnswerverifiedShow Answer

In Figure 1-2 above,"C" represents an organization's ownership with

Correct AnswerverifiedShow Answer

The element of the marketing mix that describes what is exchanged for a product is known as

Correct AnswerverifiedShow Answer

Which of the following statements best describes a service?

Correct AnswerverifiedShow Answer

The four Ps of the marketing mix are

Correct AnswerverifiedShow Answer

In Figure 1-5 above,letter "B" represents which era in U.S.business history?

Correct AnswerverifiedShow Answer

The benefits or customer value received by users of a product is called __________.

Correct AnswerverifiedShow Answer

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Correct AnswerverifiedExchange is the trade of things of value...View AnswerShow Answer

A need refers to

Correct AnswerverifiedShow Answer

Social responsibility is

Correct AnswerverifiedShow Answer

The internal response that customers have to all aspects of an organization and its offerings is referred to as __________.

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

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

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

All of the following are true about marketing EXCEPT:

Correct AnswerverifiedShow Answer

The entirely new food category Chobani launched in 2005 was

Correct AnswerverifiedShow Answer

All markets ultimately are composed of __________.

Correct AnswerverifiedShow Answer

Correct Answer
verified
A quality answer will include multiple t...
View Answer

Explain the marketing program that 3M used to reach the student target market for the Post-it^®Flag Highlighter and the rationale used for each element of the marketing mix.

Correct Answer
verified
Answers should address all four "Ps." (1...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Exchange is the trade of things of value...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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