Question 1

What is a market segment? Explain how an automaker might appeal to different market segments.

Accepted Answer

A market segment is a distinct group of

Question 2

Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In this example, Shane benefited from the ________ utility offered by the gas station.

Accepted Answer

A)  creation 
B)  place 
C)  value 
D)  marketing 
E)  quality 
A)  creation 
B)  place 
C)  value 
D)  marketing 
E)  quality

Question 3

Buyers, sellers, investors, and community residents are all considered ________ in a company.

Accepted Answer

A)  stakeholders 
B)  shareholders 
C)  consumers 
D)  channel of distribution members 
E)  collaborative consumers 
A)  stakeholders 
B)  shareholders 
C)  consumers 
D)  channel of distribution members 
E)  collaborative consumers

Question 4

A catalog retailer has identified African-American professionals between the ages of thirty-five and forty-five as the group of customers within the larger market that is a potential market for its products. The retailer plans to direct its marketing efforts toward this group of consumers. The retailer has identified a ________.

Accepted Answer

A)  target market 
B)  marketing mix 
C)  product mix 
D)  mass market 
E)  social network 
A)  target market 
B)  marketing mix 
C)  product mix 
D)  mass market 
E)  social network

Question 5

Product tampering and spray-painting graffiti on buildings are both examples of ________.

Accepted Answer

A)  folksonomy 
B)  exploitative consumption 
C)  addictive consumption 
D)  shrinkage 
E)  anticonsumption 
A)  folksonomy 
B)  exploitative consumption 
C)  addictive consumption 
D)  shrinkage 
E)  anticonsumption

Question 6

Provide a brief explanation of what marketing is.

Accepted Answer

Marketing is the activity, set

Question 7

A ________ consists of all possible customers in a market regardless of the differences in their specific needs and wants.

Accepted Answer

A)  popular culture 
B)  value chain 
C)  marketing mix 
D)  marketing concept 
E)  mass market 
A)  popular culture 
B)  value chain 
C)  marketing mix 
D)  marketing concept 
E)  mass market

Question 8

Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position. In this situation, Chris has a(n) ________.

Accepted Answer

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

Question 9

Explain the concept of corporate citizenship and why it is important for companies today.

Accepted Answer

Corporate citizenship, also called corpo

Question 10

Which of the following is part of the product element of the marketing mix?

Accepted Answer

A)  a quality discount 
B)  a store coupon 
C)  a newspaper advertisement 
D)  the packaging 
E)  publicity releases 
A)  a quality discount 
B)  a store coupon 
C)  a newspaper advertisement 
D)  the packaging 
E)  publicity releases

Question 11

The total quality management (TQM) philosophy involves all employees in ________.

Accepted Answer

A)  customer relationship management 
B)  continuous product quality improvement 
C)  market positioning 
D)  creating sustainability 
E)  increasing the lifetime value of customers 
A)  customer relationship management 
B)  continuous product quality improvement 
C)  market positioning 
D)  creating sustainability 
E)  increasing the lifetime value of customers

Question 12

Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.

Accepted Answer

A)  service 
B)  industrial product 
C)  consumer good 
D)  commercial good 
E)  business product 
A)  service 
B)  industrial product 
C)  consumer good 
D)  commercial good 
E)  business product

Question 13

Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of ________ utility.

Accepted Answer

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

Question 14

In which kind of market would a production orientation be most successful?

Accepted Answer

A)  a buyer's market in which supply exceeds demand 
B)  a market in which there are more sellers than buyers 
C)  a seller's market in which demand is greater than supply 
D)  a market that sells only intangible products 
E)  an e-commerce market 
A)  a buyer's market in which supply exceeds demand 
B)  a market in which there are more sellers than buyers 
C)  a seller's market in which demand is greater than supply 
D)  a market that sells only intangible products 
E)  an e-commerce market

Question 15

The ________ element of the marketing mix informs consumers about products and encourages them to buy these products using forms such as personal selling, advertising, coupons, and publicity.

Accepted Answer

A)  production 
B)  place 
C)  price 
D)  distribution 
E)  promotion 
A)  production 
B)  place 
C)  price 
D)  distribution 
E)  promotion

Question 16

Which of these statements about mass marketing is true?

Accepted Answer

A)  A mass marketing strategy is always preferable to a target marketing strategy. 
B)  The success of any organization's marketing efforts depends on its ability to engage in mass marketing. 
C)  Mass marketing can be cost effective. 
D)  Mass marketing allows marketers to develop products to satisfy the specific needs and wants of specific groups of customers. 
E)  Automakers typically use a mass marketing strategy. 
A)  A mass marketing strategy is always preferable to a target marketing strategy. 
B)  The success of any organization's marketing efforts depends on its ability to engage in mass marketing. 
C)  Mass marketing can be cost effective. 
D)  Mass marketing allows marketers to develop products to satisfy the specific needs and wants of specific groups of customers. 
E)  Automakers typically use a mass marketing strategy.

Question 17

A flour producer that identifies its mission as "the milling of fine flour in the most efficient manner possible" most likely has a ________ orientation.

Accepted Answer

A)  customer 
B)  marketing 
C)  selling 
D)  production 
E)  new era 
A)  customer 
B)  marketing 
C)  selling 
D)  production 
E)  new era

Question 18

Which of the following lists the three components of the triple-bottom-line orientation?

Accepted Answer

A)  the financial bottom line, the social bottom line, and the environmental bottom line 
B)  the financial bottom line, the social bottom line, and the political bottom line 
C)  the financial bottom line, the cultural bottom line, and the business bottom line 
D)  the value bottom line, the service bottom line, and the business bottom line 
E)  the product bottom line, the service bottom line, and the relationship bottom line 
A)  the financial bottom line, the social bottom line, and the environmental bottom line 
B)  the financial bottom line, the social bottom line, and the political bottom line 
C)  the financial bottom line, the cultural bottom line, and the business bottom line 
D)  the value bottom line, the service bottom line, and the business bottom line 
E)  the product bottom line, the service bottom line, and the relationship bottom line

Question 19

How would an ice cream vendor create the four types of utility?

Accepted Answer

The ice cream vendor would create form u

Question 20

The four Ps are ________.

Accepted Answer

A)  price, product, place, and promotion 
B)  price, profit, production, and possession 
C)  product, production, possession, and promotion 
D)  product, promotion, price, and profit 
E)  place, production, process, and profit 
A)  price, product, place, and promotion 
B)  price, profit, production, and possession 
C)  product, production, possession, and promotion 
D)  product, promotion, price, and profit 
E)  place, production, process, and profit

What is a market segment? Explain how an automaker might appeal to different market segments.

Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In this example, Shane benefited from the ________ utility offered by the gas station.

Buyers, sellers, investors, and community residents are all considered ________ in a company.

Product tampering and spray-painting graffiti on buildings are both examples of ________.

Provide a brief explanation of what marketing is.

A ________ consists of all possible customers in a market regardless of the differences in their specific needs and wants.

Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position. In this situation, Chris has a(n) ________.

Explain the concept of corporate citizenship and why it is important for companies today.

Which of the following is part of the product element of the marketing mix?

The total quality management (TQM) philosophy involves all employees in ________.

Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.

Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of ________ utility.

In which kind of market would a production orientation be most successful?

The ________ element of the marketing mix informs consumers about products and encourages them to buy these products using forms such as personal selling, advertising, coupons, and publicity.

Which of these statements about mass marketing is true?

A flour producer that identifies its mission as "the milling of fine flour in the most efficient manner possible" most likely has a ________ orientation.

Which of the following lists the three components of the triple-bottom-line orientation?

How would an ice cream vendor create the four types of utility?

The four Ps are ________.

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

What is a market segment? Explain how an automaker might appeal to different market segments.

Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In this example, Shane benefited from the ________ utility offered by the gas station.

Buyers, sellers, investors, and community residents are all considered ________ in a company.

Product tampering and spray-painting graffiti on buildings are both examples of ________.

Provide a brief explanation of what marketing is.

A ________ consists of all possible customers in a market regardless of the differences in their specific needs and wants.

Chris just landed her dream job but realizes that her college wardrobe is not going to work for her new professional position. In this situation, Chris has a(n) ________.

Explain the concept of corporate citizenship and why it is important for companies today.

Which of the following is part of the product element of the marketing mix?

The total quality management (TQM) philosophy involves all employees in ________.

Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.

Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantage of ________ utility.

In which kind of market would a production orientation be most successful?

The ________ element of the marketing mix informs consumers about products and encourages them to buy these products using forms such as personal selling, advertising, coupons, and publicity.

Which of these statements about mass marketing is true?

A flour producer that identifies its mission as "the milling of fine flour in the most efficient manner possible" most likely has a ________ orientation.

Which of the following lists the three components of the triple-bottom-line orientation?

How would an ice cream vendor create the four types of utility?

The four Ps are ________.

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