Question 1

The term "marketing" is synonymous with the term "advertising."

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true of Web 2.0?

Accepted Answer

A)  It categorized entries according to a strict taxonomy. 
B)  It offered two-way communication between marketers and consumers. 
C)  It was based on the open source model. 
D)  It was based on the wisdom of crowds model. 
E)  It improved as the number of users decreased. 
A)  It categorized entries according to a strict taxonomy. 
B)  It offered two-way communication between marketers and consumers. 
C)  It was based on the open source model. 
D)  It was based on the wisdom of crowds model. 
E)  It improved as the number of users decreased.

Question 3

A customer's desire for a product coupled with the buying power or resources to obtain that product is called ________.

Accepted Answer

A)  benefit 
B)  demand 
C)  need 
D)  utility 
E)  service 
A)  benefit 
B)  demand 
C)  need 
D)  utility 
E)  service

Question 4

The promotion element of the marketing mix includes the design of the product.

Accepted Answer

A) True 
 B)False

Question 5

What are two competitive advantages a customer may benefit from when buying a bottle of soda from a local corner convenience store versus a chain supermarket?

Accepted Answer

Answers may vary, but include the follow

Question 6

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

Accepted Answer

A)  e-commerce 
B)  virtual exchange of goods 
C)  the attention economy 
D)  collaborative consumption 
E)  user-generated content 
A)  e-commerce 
B)  virtual exchange of goods 
C)  the attention economy 
D)  collaborative consumption 
E)  user-generated content

Question 7

The pricing element of the marketing mix always involves monetary exchanges.

Accepted Answer

A) True 
 B)False

Question 8

A haul video is an example of consumer-generated content.

Accepted Answer

A) True 
 B)False

Question 9

The acronym ROI stands for return on internet.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?

Accepted Answer

A)  collaborative consumption 
B)  green marketing 
C)  triple-bottom-line orientation 
D)  societal marketing 
E)  corporate citizenship 
A)  collaborative consumption 
B)  green marketing 
C)  triple-bottom-line orientation 
D)  societal marketing 
E)  corporate citizenship

Question 11

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.

Accepted Answer

A)  production orientation 
B)  sustainability concept 
C)  selling orientation 
D)  customer orientation 
E)  societal marketing concept 
A)  production orientation 
B)  sustainability concept 
C)  selling orientation 
D)  customer orientation 
E)  societal marketing concept

Question 12

________ are intangible products that we pay for and use but never own.

Accepted Answer

A)  Consumer goods 
B)  Services 
C)  Industrial goods 
D)  E-commerce products 
E)  Value products 
A)  Consumer goods 
B)  Services 
C)  Industrial goods 
D)  E-commerce products 
E)  Value products

Question 13

A ________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.

Accepted Answer

A)  product position 
B)  market segment 
C)  mass market 
D)  value proposition 
E)  target market 
A)  product position 
B)  market segment 
C)  mass market 
D)  value proposition 
E)  target market

Question 14

Marketers develop positioning strategies to ________.

Accepted Answer

A)  limit the number of elements of the marketing mix used for one product 
B)  identify the location where the organization will sell its products 
C)  determine the specific means the organization uses to distribute its products 
D)  create a desired perception of the product in consumers' minds in comparison to competitors' brands 
E)  select metrics to determine the effectiveness of marketing planning 
A)  limit the number of elements of the marketing mix used for one product 
B)  identify the location where the organization will sell its products 
C)  determine the specific means the organization uses to distribute its products 
D)  create a desired perception of the product in consumers' minds in comparison to competitors' brands 
E)  select metrics to determine the effectiveness of marketing planning

Question 15

________ marketing is the marketing of goods and services from one organization to another.

Accepted Answer

A)  Distributive 
B)  Consumer 
C)  E-commerce 
D)  Business-to-business 
E)  Target 
A)  Distributive 
B)  Consumer 
C)  E-commerce 
D)  Business-to-business 
E)  Target

Question 16

A firm's capability that is superior to that of its competition is referred to as a(n) ________.

Accepted Answer

A)  distinctive competency 
B)  added value 
C)  value proposition 
D)  value chain 
E)  social benefit 
A)  distinctive competency 
B)  added value 
C)  value proposition 
D)  value chain 
E)  social benefit

Question 17

Susannah owns a one-bedroom apartment in Manhattan that she posts for short-term weekend and summer rentals on airBnB when she plans to be out of town. This is an example of ________.

Accepted Answer

A)  not-for-profit marketing 
B)  institutional marketing 
C)  collaborative consumption 
D)  people marketing 
E)  consumer-generated marketing 
A)  not-for-profit marketing 
B)  institutional marketing 
C)  collaborative consumption 
D)  people marketing 
E)  consumer-generated marketing

Question 18

The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.

Accepted Answer

A)  sharing economy 
B)  market position 
C)  value proposition 
D)  marketplace 
E)  marketing mix 
A)  sharing economy 
B)  market position 
C)  value proposition 
D)  marketplace 
E)  marketing mix

Question 19

When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________.

Accepted Answer

A)  benefit 
B)  demand 
C)  need 
D)  value 
E)  utility 
A)  benefit 
B)  demand 
C)  need 
D)  value 
E)  utility

Question 20

What does the phrase "exchange relationship" mean in relation to marketing?

Accepted Answer

An exchange occurs when something is obt

The term "marketing" is synonymous with the term "advertising."

Which of the following is true of Web 2.0?

A customer's desire for a product coupled with the buying power or resources to obtain that product is called ________.

The promotion element of the marketing mix includes the design of the product.

What are two competitive advantages a customer may benefit from when buying a bottle of soda from a local corner convenience store versus a chain supermarket?

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

The pricing element of the marketing mix always involves monetary exchanges.

A haul video is an example of consumer-generated content.

The acronym ROI stands for return on internet.

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.

________ are intangible products that we pay for and use but never own.

A ________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.

Marketers develop positioning strategies to ________.

________ marketing is the marketing of goods and services from one organization to another.

A firm's capability that is superior to that of its competition is referred to as a(n) ________.

Susannah owns a one-bedroom apartment in Manhattan that she posts for short-term weekend and summer rentals on airBnB when she plans to be out of town. This is an example of ________.

The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.

When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________.

What does the phrase "exchange relationship" mean in relation to marketing?

Global, Ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product I: Innovation and New Product Development

Product Ii: Product Strategy, Branding, and Product Management

Price: What Is the Value Proposition Worth

Deliver the Goods: Determine the Distribution Strategy

Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Promotion I: Advertising: One to Many Marketing Communications

Promotion II: Social Media Marketing and Other Communication Tools

Filters

Exam 1: Welcome to the World of Marketing: Create and Deliver Value

The term "marketing" is synonymous with the term "advertising."

Which of the following is true of Web 2.0?

A customer's desire for a product coupled with the buying power or resources to obtain that product is called ________.

The promotion element of the marketing mix includes the design of the product.

What are two competitive advantages a customer may benefit from when buying a bottle of soda from a local corner convenience store versus a chain supermarket?

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

The pricing element of the marketing mix always involves monetary exchanges.

A haul video is an example of consumer-generated content.

The acronym ROI stands for return on internet.

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.

________ are intangible products that we pay for and use but never own.

A ________ is a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased.

Marketers develop positioning strategies to ________.

________ marketing is the marketing of goods and services from one organization to another.

A firm's capability that is superior to that of its competition is referred to as a(n) ________.

Susannah owns a one-bedroom apartment in Manhattan that she posts for short-term weekend and summer rentals on airBnB when she plans to be out of town. This is an example of ________.

The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers.

When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________.

What does the phrase "exchange relationship" mean in relation to marketing?

Global, Ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product I: Innovation and New Product Development

Product Ii: Product Strategy, Branding, and Product Management

Price: What Is the Value Proposition Worth

Deliver the Goods: Determine the Distribution Strategy

Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Promotion I: Advertising: One to Many Marketing Communications

Promotion II: Social Media Marketing and Other Communication Tools

Filters