Question 1

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

Accepted Answer

A) In his first attempt,David Windorski,a 3M inventor,designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market. 
B) Paralegals were initially the intended target market for the Post-it Flag Highlighter. 
C) David Windorski,a 3M inventor,also developed the Post-it Flag Pen for the office worker segment. 
D) The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line. 
E) In his development of the Post-it Flag Highlighter,David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor. 
A) In his first attempt,David Windorski,a 3M inventor,designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market. 
B) Paralegals were initially the intended target market for the Post-it Flag Highlighter. 
C) David Windorski,a 3M inventor,also developed the Post-it Flag Pen for the office worker segment. 
D) The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line. 
E) In his development of the Post-it Flag Highlighter,David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor.

Question 2

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.).If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

Accepted Answer

A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment. 
B) Both the adjuster and the student are potential customers because in their own way,they both benefit from the product. 
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers. 
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use. 
E) Only a person who has bought a smartphone previously is a prospective customer; only previous owners of smartphones benefit from buying new ones. 
A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment. 
B) Both the adjuster and the student are potential customers because in their own way,they both benefit from the product. 
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers. 
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use. 
E) Only a person who has bought a smartphone previously is a prospective customer; only previous owners of smartphones benefit from buying new ones.

Question 3

Twitter is a website that offers a social networking service, enabling its users to send and read other users’ messages or conversations called tweets, which are text-based posts of up to 140 characters displayed on the user’s profile page.  Connected to each “tweet” is a rich details pane that provides additional information, deeper context, and embedded media.  Companies are just beginning to use Twitter as a tool in their relationship marketing programs.  In what ways could Twitter be used to benefit both the customer and the organization?

Accepted Answer

One aspect of Twitter is that it allows

Question 4

The element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

Accepted Answer

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

Question 5

A business student is preparing for the Graduate Management Admission Test (GMAT)so he can get into a good graduate business school.He knows that any money he spends on a tutor will be well worth it if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.To ensure that marketing occurs,he should

Accepted Answer

A) buy a GMAT study guide at the bookstore. 
B) find out what the minimum score he needs to get into the school of his choice. 
C) attempt to find the tutor via her website,flyers in the students lounge,or ads in college and local papers,or by asking his friends. 
D) consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission. 
E) apply for delayed admission if he can't find this tutor. 
A) buy a GMAT study guide at the bookstore. 
B) find out what the minimum score he needs to get into the school of his choice. 
C) attempt to find the tutor via her website,flyers in the students lounge,or ads in college and local papers,or by asking his friends. 
D) consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission. 
E) apply for delayed admission if he can't find this tutor.

Question 6

List and describe the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Accepted Answer

The five environmental forces mainly bey

Question 7

To serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

Accepted Answer

A) change 
B) satisfy 
C) create 
D) manipulate 
E) preserve 
A) change 
B) satisfy 
C) create 
D) manipulate 
E) preserve

Question 8

The first objective in marketing is to discover consumer __________.

Accepted Answer

A) diversity of opinion to create advertising messages 
B) income to determine the most lucrative price point for a product 
C) lifetime value to the organization 
D) characteristics that would be useful to segment markets 
E) needs to create products that could satisfy them 
A) diversity of opinion to create advertising messages 
B) income to determine the most lucrative price point for a product 
C) lifetime value to the organization 
D) characteristics that would be useful to segment markets 
E) needs to create products that could satisfy them

Question 9

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 o

Question 10

A want refers to

Accepted Answer

A) a sense of personal inadequacy based upon observations by others around you. 
B) a sense of urgency that causes a person to take action. 
C) a need 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. 
A) a sense of personal inadequacy based upon observations by others around you. 
B) a sense of urgency that causes a person to take action. 
C) a need 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.

Question 11

What kinds of organizations engage in marketing?

Accepted Answer

A) only those that can afford to advertise 
B) only very large and established for profit organizations 
C) only Fortune 500 companies 
D) every organization regardless of the kind 
E) only the organization that wants to make a profit 
A) only those that can afford to advertise 
B) only very large and established for profit organizations 
C) only Fortune 500 companies 
D) every organization regardless of the kind 
E) only the organization that wants to make a profit

Question 12

It is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Accepted Answer

Goods are physical objects,such as tooth

Question 13

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 force 
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 force

Question 14

The two central concerns of marketing are __________.

Accepted Answer

A) increasing market share and making profits 
B) holding down costs while increasing profits 
C) developing products and finding suppliers 
D) discovering and satisfying consumer needs 
E) practicing ethics and sustainability 
A) increasing market share and making profits 
B) holding down costs while increasing profits 
C) developing products and finding suppliers 
D) discovering and satisfying consumer needs 
E) practicing ethics and sustainability

Question 15

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Accepted Answer

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

Question 16

Marketing discovers consumer needs by

Accepted Answer

A) implementing a marketing program. 
B) conducting extensive 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 its competitors. 
A) implementing a marketing program. 
B) conducting extensive 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 its competitors.

Question 17

If other companies applied the same strategy David Windorski used at 3M,they would most likely

Accepted Answer

A) avoid the use of mock-ups and working models to speed up the new-product development process and get the product out to the market faster. 
B) search continuously to discover customers' needs. 
C) copy 3M's "5% Rule" to do unfunded research. 
D) avoid excessive attention to customers' demands because they cannot always differentiate between their needs and their wants. 
E) focus on the shareholders of the company and believe that strategy will follow. 
A) avoid the use of mock-ups and working models to speed up the new-product development process and get the product out to the market faster. 
B) search continuously to discover customers' needs. 
C) copy 3M's "5% Rule" to do unfunded research. 
D) avoid excessive attention to customers' demands because they cannot always differentiate between their needs and their wants. 
E) focus on the shareholders of the company and believe that strategy will follow.

Question 18

Dick's Sporting Goods carries baseballs all year around.The same is true for footballs and tennis equipment.With this all-year-around strategy,Dick's Sporting Goods offers __________ utility for these products.

Accepted Answer

A) time 
B) place 
C) possession 
D) market 
E) form 
A) time 
B) place 
C) possession 
D) market 
E) form

Question 19

Time Inc.has published a new magazine, All You,,which is distributed only in Walmart stores.Who is the ultimate consumer for this magazine?

Accepted Answer

A) the person who buys the magazine to read at home 
B) the person who stocks the magazine rack at Walmart 
C) the person who browses the magazine in the store but does not buy it 
D) the salesperson for Time Inc.that sold the magazine to Walmart 
E) All people,from the writer,to the seller,to the reader at home,are the ultimate consumers. 
A) the person who buys the magazine to read at home 
B) the person who stocks the magazine rack at Walmart 
C) the person who browses the magazine in the store but does not buy it 
D) the salesperson for Time Inc.that sold the magazine to Walmart 
E) All people,from the writer,to the seller,to the reader at home,are the ultimate consumers.

Question 20

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Accepted Answer

A) uncontrollable forces 
B) profitability factors 
C) stakeholder value generators 
D) target market segments 
E) controllable factors 
A) uncontrollable forces 
B) profitability factors 
C) stakeholder value generators 
D) target market segments 
E) controllable factors

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.).If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

The element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

List and describe the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

To serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

The first objective in marketing is to discover consumer __________.

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

A want refers to

What kinds of organizations engage in marketing?

It is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

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.

The two central concerns of marketing are __________.

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Marketing discovers consumer needs by

If other companies applied the same strategy David Windorski used at 3M,they would most likely

Dick's Sporting Goods carries baseballs all year around.The same is true for footballs and tennis equipment.With this all-year-around strategy,Dick's Sporting Goods offers __________ utility for these products.

Time Inc.has published a new magazine, All You,,which is distributed only in Walmart stores.Who is the ultimate consumer for this magazine?

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

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

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.).If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

The element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

List and describe the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

To serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

The first objective in marketing is to discover consumer __________.

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

A want refers to

What kinds of organizations engage in marketing?

It is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

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.

The two central concerns of marketing are __________.

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Marketing discovers consumer needs by

If other companies applied the same strategy David Windorski used at 3M,they would most likely

Dick's Sporting Goods carries baseballs all year around.The same is true for footballs and tennis equipment.With this all-year-around strategy,Dick's Sporting Goods offers __________ utility for these products.

Time Inc.has published a new magazine, All You,,which is distributed only in Walmart stores.Who is the ultimate consumer for this magazine?

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

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