Question 1

Marriott,Lands' End,and Home Depot deliver customer value by providing its customers with the best

Accepted Answer

A) assortment. 
B) products/services. 
C) price. 
D) customer service. 
E) availability. 
A) assortment. 
B) products/services. 
C) price. 
D) customer service. 
E) availability.

Question 2

Which of the following is an example of possession utility?

Accepted Answer

A) an iPhone with a large selection of new "apps" 
B) the local dairy that offers to deliver bottles of milk to a customer's doorstep 
C) disposable diapers that come equipped with resealable tabs 
D) a gourmet food store that carries a line of ready-made salads 
E) a mobile phone company that offers six-month financing,same as cash 
A) an iPhone with a large selection of new "apps" 
B) the local dairy that offers to deliver bottles of milk to a customer's doorstep 
C) disposable diapers that come equipped with resealable tabs 
D) a gourmet food store that carries a line of ready-made salads 
E) a mobile phone company that offers six-month financing,same as cash

Question 3

The Terrafugia Transition is a flying car with an anticipated price of $279,000.A potential showstopper for this product is likely to be

Accepted Answer

A) concern about damage caused in a small on-road fender bender might make it dangerous to fly. 
B) a lack of marketing towards retired seniors. 
C) the efficiency of commuting for corporate executives. 
D) the availability of flight instruction for licensed drivers. 
E) a very poor product warranty. 
A) concern about damage caused in a small on-road fender bender might make it dangerous to fly. 
B) a lack of marketing towards retired seniors. 
C) the efficiency of commuting for corporate executives. 
D) the availability of flight instruction for licensed drivers. 
E) a very poor product warranty.

Question 4

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.He doesn't know how to find a dealer though,and doesn't have Internet access.Which of the following reasons explain why marketing fails to occur here?

Accepted Answer

A) There are not two or more parties with unsatisfied needs. 
B) A desire to satisfy a need is missing. 
C) No assessments of consumer wants and needs have been made. 
D) There is no way for the parties involved to communicate. 
E) The ability to satisfy a need is missing. 
A) There are not two or more parties with unsatisfied needs. 
B) A desire to satisfy a need is missing. 
C) No assessments of consumer wants and needs have been made. 
D) There is no way for the parties involved to communicate. 
E) The ability to satisfy a need is missing.

Question 5

The marketing concept refers to

Accepted Answer

A) the activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large. 
B) the belief that an organization should focus 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 view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. 
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) the idea that an organization should (1)strive to satisfy the needs of consumers (2)while also trying to achieve the organization's goals. 
A) the activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large. 
B) the belief that an organization should focus 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 view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. 
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) the idea that an organization should (1)strive to satisfy the needs of consumers (2)while also trying to achieve the organization's goals.

Question 6

In marketing,thoughts about concepts,actions,or causes are referred to as

Accepted Answer

A) utilities. 
B) experiences. 
C) values. 
D) ideas. 
E) services. 
A) utilities. 
B) experiences. 
C) values. 
D) ideas. 
E) services.

Question 7

Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making.Incorporate marketing terms in your response.

Accepted Answer

Most colleges and universities offer som

Question 8

Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?

Accepted Answer

A) Terrafugia Transition 
B) Pepsi Next 
C) Bell bicycle helmets 
D) 3M Post-it Flag+ Highlighter 
E) Dr.Care toothpaste 
A) Terrafugia Transition 
B) Pepsi Next 
C) Bell bicycle helmets 
D) 3M Post-it Flag+ Highlighter 
E) Dr.Care toothpaste

Question 9

Which of the following is an example of form utility?

Accepted Answer

A) an iPhone with a "multitouch" user interface for easy navigation 
B) stamp vending machines that are located in drug stores 
C) a service station that has a 24-hour ice machine available for use when the station is closed 
D) a mobile phone company that offers six-month financing,same as cash 
E) a gourmet candy store that offers a home delivery service 
A) an iPhone with a "multitouch" user interface for easy navigation 
B) stamp vending machines that are located in drug stores 
C) a service station that has a 24-hour ice machine available for use when the station is closed 
D) a mobile phone company that offers six-month financing,same as cash 
E) a gourmet candy store that offers a home delivery service

Question 10

3M's pricing strategy for its Post-it Flag Highlighters was as follows:

Accepted Answer

A) match its principal competitors' highlighters' prices. 
B) charge a price that would give a reasonable bookstore price to students and an acceptable profit to distributors and 3M. 
C) set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated. 
D) make the product easier to purchase by placing the Post-it Flag Highlighter in discount office supply retailers. 
E) use the same pricing strategy as its 3M's Post-it Flag and Post-it Note offerings. 
A) match its principal competitors' highlighters' prices. 
B) charge a price that would give a reasonable bookstore price to students and an acceptable profit to distributors and 3M. 
C) set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated. 
D) make the product easier to purchase by placing the Post-it Flag Highlighter in discount office supply retailers. 
E) use the same pricing strategy as its 3M's Post-it Flag and Post-it Note offerings.

Question 11

The Arizona Biltmore in Phoenix is next to the Biltmore Fashion Park,a large shopping mall located less than a mile away.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 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. 
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.

Question 12

Which of the following statements about customer value is most accurate?

Accepted Answer

A) Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc.),regardless of the price. 
B) Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal. 
C) Research suggests that firms can be most successful by being all things to all consumers. 
D) It is impossible to place a dollar value on a loyal,satisfied customer. 
E) To create value for targeted buyers,firms must build long-term relationships with them. 
A) Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc.),regardless of the price. 
B) Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal. 
C) Research suggests that firms can be most successful by being all things to all consumers. 
D) It is impossible to place a dollar value on a loyal,satisfied customer. 
E) To create value for targeted buyers,firms must build long-term relationships with them.

Question 13

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 is known as a(n)

Accepted Answer

A) utility. 
B) item. 
C) service. 
D) marketing program. 
E) product. 
A) utility. 
B) item. 
C) service. 
D) marketing program. 
E) product.

Question 14

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

Accepted Answer

A) production orientation. 
B) sales orientation. 
C) customer relationship orientation. 
D) service orientation. 
E) market orientation. 
A) production orientation. 
B) sales orientation. 
C) customer relationship orientation. 
D) service orientation. 
E) market orientation.

Question 15

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 16

David Windorski,an inventor at 3M,did some of his early marketing research on the Post-it Flags Highlighter by

Accepted Answer

A) making sure new 3M products were available at mass merchandisers such as Walmart. 
B) specifying the tolerances for injection molded parts. 
C) asking students to dump their backpacks and explain the items they carried around. 
D) investigating similar study aid products offered by other office product competitors. 
E) determining which distribution strategies would be most efficient for students. 
A) making sure new 3M products were available at mass merchandisers such as Walmart. 
B) specifying the tolerances for injection molded parts. 
C) asking students to dump their backpacks and explain the items they carried around. 
D) investigating similar study aid products offered by other office product competitors. 
E) determining which distribution strategies would be most efficient for students.

Question 17

Insisting upon a market orientation within one's firm first occurred during which era in U.S.business history?

Accepted Answer

A) the production era 
B) the sales era 
C) the reduction era 
D) the marketing concept era 
E) the societal marketing era 
A) the production era 
B) the sales era 
C) the reduction era 
D) the marketing concept era 
E) the societal marketing era

Question 18

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

Question 19

Customer value refers to

Accepted Answer

A) the need of a customer to receive the highest quality product at the lowest possible price. 
B) the seeking of the least expensive product that will provide all of the most basic benefits within a product category. 
C) a statement that,before product development begins,identifies (1)a well-defined target market; (2)specific customers' needs,wants,and preferences; and (3)what the product will be and do to satisfy consumers. 
D) the unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price. 
E) the cluster of benefits that an organization promises customers to satisfy their needs. 
A) the need of a customer to receive the highest quality product at the lowest possible price. 
B) the seeking of the least expensive product that will provide all of the most basic benefits within a product category. 
C) a statement that,before product development begins,identifies (1)a well-defined target market; (2)specific customers' needs,wants,and preferences; and (3)what the product will be and do to satisfy consumers. 
D) the unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price. 
E) the cluster of benefits that an organization promises customers to satisfy their needs.

Question 20

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 target 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 unfairly for its 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. 
A) the market segments for Post-it Flag Highlighters and Post-it Flag Pens are identical. 
B) the target 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 unfairly for its 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.

Marriott,Lands' End,and Home Depot deliver customer value by providing its customers with the best

Which of the following is an example of possession utility?

The Terrafugia Transition is a flying car with an anticipated price of $279,000.A potential showstopper for this product is likely to be

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.He doesn't know how to find a dealer though,and doesn't have Internet access.Which of the following reasons explain why marketing fails to occur here?

The marketing concept refers to

In marketing,thoughts about concepts,actions,or causes are referred to as

Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making.Incorporate marketing terms in your response.

Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?

Which of the following is an example of form utility?

3M's pricing strategy for its Post-it Flag Highlighters was as follows:

Which of the following statements about customer value is most accurate?

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 is known as a(n)

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

David Windorski,an inventor at 3M,did some of his early marketing research on the Post-it Flags Highlighter by

Insisting upon a market orientation within one's firm first occurred during which era in U.S.business history?

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.

Customer value refers to

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

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

Marriott,Lands' End,and Home Depot deliver customer value by providing its customers with the best

Which of the following is an example of possession utility?

The Terrafugia Transition is a flying car with an anticipated price of $279,000.A potential showstopper for this product is likely to be

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.He doesn't know how to find a dealer though,and doesn't have Internet access.Which of the following reasons explain why marketing fails to occur here?

The marketing concept refers to

In marketing,thoughts about concepts,actions,or causes are referred to as

Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making.Incorporate marketing terms in your response.

Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?

Which of the following is an example of form utility?

3M's pricing strategy for its Post-it Flag Highlighters was as follows:

Which of the following statements about customer value is most accurate?

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 is known as a(n)

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

David Windorski,an inventor at 3M,did some of his early marketing research on the Post-it Flags Highlighter by

Insisting upon a market orientation within one's firm first occurred during which era in U.S.business history?

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.

Customer value refers to

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

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