Question 1

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

Accepted Answer

A) that Scotch tape had outgrown its usefulness to students. 
B) to make new products that have higher quality. 
C) that the average backpack was already too heavy. 
D) that it would be reasonable to put Post-it Flags together with a highlighter. 
E) to determine the ratio of 3M products to study aid products of other competitors. 
A) that Scotch tape had outgrown its usefulness to students. 
B) to make new products that have higher quality. 
C) that the average backpack was already too heavy. 
D) that it would be reasonable to put Post-it Flags together with a highlighter. 
E) to determine the ratio of 3M products to study aid products of other competitors. D

Question 2

Which of the following statements about marketing departments is most accurate?

Accepted Answer

A) The marketing department should work solely with people within its own department. 
B) The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces. 
C) The marketing department is only responsible for the 4 Ps,not the 7 Ps. 
D) The marketing department is responsible for market research,supervision of product development,and product promotion. 
E) The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper. 
A) The marketing department should work solely with people within its own department. 
B) The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces. 
C) The marketing department is only responsible for the 4 Ps,not the 7 Ps. 
D) The marketing department is responsible for market research,supervision of product development,and product promotion. 
E) The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper. E

Question 3

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible

Accepted Answer

A) marketing strategy. 
B) macromarketing agenda. 
C) micromarketing agenda. 
D) marketing program. 
E) marketing concept. 
A) marketing strategy. 
B) macromarketing agenda. 
C) micromarketing agenda. 
D) marketing program. 
E) marketing concept. D

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. 
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.

Question 5

A market orientation refers to

Accepted Answer

A) the orientation of an organization that focuses its efforts on: (1)continuously collecting information about the environment; (2)keeping abreast of the actions of its competitors; and (3)using this information to create customer value. 
B) the orientation of an organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments; and (3)using it to create customer value. 
C) the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change. 
D) the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus. 
E) the point of view that holds that there is always someone who needs or can benefit from your product,and if one segment fails,there is an even better one somewhere in the "market." 
A) the orientation of an organization that focuses its efforts on: (1)continuously collecting information about the environment; (2)keeping abreast of the actions of its competitors; and (3)using this information to create customer value. 
B) the orientation of an organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments; and (3)using it to create customer value. 
C) the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change. 
D) the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus. 
E) the point of view that holds that there is always someone who needs or can benefit from your product,and if one segment fails,there is an even better one somewhere in the "market."

Question 6

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 satisfies 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 value. 
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 satisfies 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 value.

Question 7

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

Accepted Answer

A) 33 
B) 50 
C) 67 
D) 75 
E) 94 
A) 33 
B) 50 
C) 67 
D) 75 
E) 94

Question 8

Newspaper readership has declined significantly in recent years.Not only are traditional newspapers losing subscribers,they are also losing advertisers.To combat these trends,many newspaper publishers now offer online versions of their printed newspapers.This is MOST LIKELY a response to which environmental force?

Accepted Answer

A) economic,since few can afford a newspaper today 
B) competitive,resulting from new,smaller local newspapers that are flourishing 
C) technology,since high-speed printing presses have become more easy to use 
D) social,resulting from changing consumer preferences for information delivered online 
E) regulatory,since the government has provides tax incentives for paper products 
A) economic,since few can afford a newspaper today 
B) competitive,resulting from new,smaller local newspapers that are flourishing 
C) technology,since high-speed printing presses have become more easy to use 
D) social,resulting from changing consumer preferences for information delivered online 
E) regulatory,since the government has provides tax incentives for paper products

Question 9

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Accepted Answer

A) a product. 
B) the price. 
C) promotion. 
D) the place or distribution. 
E) transportation. 
A) a product. 
B) the price. 
C) promotion. 
D) the place or distribution. 
E) transportation.

Question 10

Which of the following conditions are necessary for marketing to occur?

Accepted Answer

A) two or more people,a method of assessing needs,a way to communicate,and an exchange 
B) two or more people,a product,a reasonable price,and a place to make an exchange 
C) a quality product,a fair price,a clever method of promotion,and a place where a customer can buy the product 
D) two or more parties with unsatisfied needs,a desire and an ability to satisfy them,a way to communicate,and something to exchange 
E) an ability to see a hidden trend within an environmental force,a product,and an affordable and actionable advertising campaign 
A) two or more people,a method of assessing needs,a way to communicate,and an exchange 
B) two or more people,a product,a reasonable price,and a place to make an exchange 
C) a quality product,a fair price,a clever method of promotion,and a place where a customer can buy the product 
D) two or more parties with unsatisfied needs,a desire and an ability to satisfy them,a way to communicate,and something to exchange 
E) an ability to see a hidden trend within an environmental force,a product,and an affordable and actionable advertising campaign

Question 11

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

Accepted Answer

A) ultimate consumers 
B) situational buyers 
C) primary buyers 
D) a target market 
E) household prospects 
A) ultimate consumers 
B) situational buyers 
C) primary buyers 
D) a target market 
E) household prospects

Question 12

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

Accepted Answer

A) product 
B) price 
C) promotion 
D) place 
E) process 
A) product 
B) price 
C) promotion 
D) place 
E) process

Question 13

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

Accepted Answer

A) marketing strategy 
B) marketing program 
C) macromarketing tactic 
D) micromarketing tactic 
E) customer relationship management 
A) marketing strategy 
B) marketing program 
C) macromarketing tactic 
D) micromarketing tactic 
E) customer relationship management

Question 14

In marketing,the idea of exchange refers to

Accepted Answer

A) the negotiation phase between the manufacturer and the seller. 
B) the financial remuneration (monetary payment)for a product or service. 
C) the trade of things of value between buyer and seller so that each is better off after the trade. 
D) the bartering of products and services between non-governmental organizations or individuals. 
E) the practice of swapping products and services for other products and services rather than for money. 
A) the negotiation phase between the manufacturer and the seller. 
B) the financial remuneration (monetary payment)for a product or service. 
C) the trade of things of value between buyer and seller so that each is better off after the trade. 
D) the bartering of products and services between non-governmental organizations or individuals. 
E) the practice of swapping products and services for other products and services rather than for money.

Question 15

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

Accepted Answer

A) the trade of things of value between buyer and seller so that each is better off after the trade. 
B) the negotiation phase between the manufacturer and the seller. 
C) the financial remuneration (monetary payment)for a product or service. 
D) the transport of tangible goods to new owners. 
E) the practice of swapping products and services for other products and services rather than for money. 
A) the trade of things of value between buyer and seller so that each is better off after the trade. 
B) the negotiation phase between the manufacturer and the seller. 
C) the financial remuneration (monetary payment)for a product or service. 
D) the transport of tangible goods to new owners. 
E) the practice of swapping products and services for other products and services rather than for money.

Question 16

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

Accepted Answer

Students' examples will differ,but each

Question 17

Innovators at 3M developed Scotch-Brite  Never Rust Wool Soap Pads from recycled plastic bottles.Even though these soap pads are more expensive than competitive brands (Brillo and SOS),customers are willing to pay the premium price.Customers appreciate the value of a superior product (they don't rust or scratch)and appreciate the fact that their purchase is environmentally responsible.This demonstrates that

Accepted Answer

A) an organization can be environmentally conscious while still satisfying its customers and remaining competitive in the market. 
B) an organization can use a customer's sense of social responsibility to its own advantage even though the effects are minimal. 
C) if a company uses recycled materials,it can always charge more than what a product is actually worth. 
D) it is more important to act in a socially responsible manner than to consider the profits and goals of the organization. 
E) the first brand that creates a new product gets to charge the highest price and make the greatest profits. 
A) an organization can be environmentally conscious while still satisfying its customers and remaining competitive in the market. 
B) an organization can use a customer's sense of social responsibility to its own advantage even though the effects are minimal. 
C) if a company uses recycled materials,it can always charge more than what a product is actually worth. 
D) it is more important to act in a socially responsible manner than to consider the profits and goals of the organization. 
E) the first brand that creates a new product gets to charge the highest price and make the greatest profits.

Question 18

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 systems 
A) purchasing 
B) marketing 
C) human resources 
D) accounting 
E) information systems

Question 19

Kraft produces Lunchables,a prepackaged meal usually consisting of several crackers,small slices of meat,and small slices of cheese.Other items in the product line contain Capri Sun drinks,water,or a small portion of Dole fruit.The box is bright yellow and the quantity of food contained within it is small.The target market for Kraft Lunchables is MOST LIKELY:

Accepted Answer

A) moms with school-age children who pack a simple healthy lunch for them. 
B) business people looking for a fulfilling breakfast at the office. 
C) business travelers on the run. 
D) teenagers who are hungry for an after-school snack. 
E) baby boomers who are trying to lose weight. 
A) moms with school-age children who pack a simple healthy lunch for them. 
B) business people looking for a fulfilling breakfast at the office. 
C) business travelers on the run. 
D) teenagers who are hungry for an after-school snack. 
E) baby boomers who are trying to lose weight.

Question 20

Which of the following statements best defines consumer needs and wants?

Accepted Answer

A) Needs are far more influential than wants with respect to marketing decision making. 
B) Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases. 
C) Wants occur when a person feels deprived of basic necessities such as food,clothing,and shelter while needs are determined by a person's knowledge,culture,or personality. 
D) Needs occur when a person feels deprived of basic necessities such as food,clothing,and shelter while wants are determined by a person's knowledge,culture,or personality. 
E) Needs and wants are exactly the same. 
A) Needs are far more influential than wants with respect to marketing decision making. 
B) Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases. 
C) Wants occur when a person feels deprived of basic necessities such as food,clothing,and shelter while needs are determined by a person's knowledge,culture,or personality. 
D) Needs occur when a person feels deprived of basic necessities such as food,clothing,and shelter while wants are determined by a person's knowledge,culture,or personality. 
E) Needs and wants are exactly the same.

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

Which of the following statements about marketing departments is most accurate?

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible

The marketing mix refers to

A market orientation refers to

A product

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Which of the following conditions are necessary for marketing to occur?

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

In marketing,the idea of exchange refers to

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

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

Which of the following statements best defines consumer needs and wants?

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment, Ethical Behavior and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Buildign an Effective Marketing Plan

Filters

Exam 1: Creating Customer Relationships and Value Through Marketing

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

Which of the following statements about marketing departments is most accurate?

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible

The marketing mix refers to

A market orientation refers to

A product

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Which of the following conditions are necessary for marketing to occur?

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

In marketing,the idea of exchange refers to

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

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

Which of the following statements best defines consumer needs and wants?

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment, Ethical Behavior and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Buildign an Effective Marketing Plan

Filters