Question 1

According to the AMA's Code of Ethics, to acknowledge the basic human dignity of all stakeholders represents the ethical value of ________.

Accepted Answer

The answer of According to the AMA's Code of Ethics,...

Question 2

Compare the following statements regarding relationship marketing to determine which is most accurate?

Accepted Answer

A) Relationship marketing is best described as the use of personal selling to persuade consumers to buy products. 
B) Relationship marketing depends upon the large-scale customer data sets in order to craft customized offers to customers. 
C) Relationship marketing is most successful when firms focus on attracting, maintaining, and enhancing customer relationships. 
D) Relationship marketing has waned as a viable strategy with the advent of the Internet. 
E) Very few companies in today's marketplace are engaged in relationship marketing. 
A) Relationship marketing is best described as the use of personal selling to persuade consumers to buy products. 
B) Relationship marketing depends upon the large-scale customer data sets in order to craft customized offers to customers. 
C) Relationship marketing is most successful when firms focus on attracting, maintaining, and enhancing customer relationships. 
D) Relationship marketing has waned as a viable strategy with the advent of the Internet. 
E) Very few companies in today's marketplace are engaged in relationship marketing.

Question 3

The place element of the marketing mix involves the activities a firm undertakes to make its product available to potential customers.

Accepted Answer

A) True 
 B)False

Question 4

What is the premise behind the marketing concept?

Accepted Answer

A) an interest in streamlining production processes 
B) a company-wide focus on increasing profits 
C) a focus on satisfying the needs of the customer 
D) focusing on keeping the company stakeholders satisfied 
E) utilizing all aspects of marketing to persuade consumers to buy 
A) an interest in streamlining production processes 
B) a company-wide focus on increasing profits 
C) a focus on satisfying the needs of the customer 
D) focusing on keeping the company stakeholders satisfied 
E) utilizing all aspects of marketing to persuade consumers to buy

Question 5

Determining the message that salespeople should use to communicate the value of the product and persuade customers to buy it, relates to the _________ element of the marketing mix.

Accepted Answer

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

Question 6

An advertisement shows a group of boys playing soccer on a hot day. When they take a break, the boys run to a cooler to find something to quench their thirst. Inside the cooler are water bottles, cans of soda, fruit juices, and Gatorade. Immediately, the boys fight over the Gatorade showing that it is clearly the best choice. In this ad, liquid refreshment represents a ________, and Gatorade represents a ________.

Accepted Answer

A) craving; preference 
B) need; want 
C) want; need 
D) want; preference 
E) craving; need 
A) craving; preference 
B) need; want 
C) want; need 
D) want; preference 
E) craving; need

Question 7

A ________ can be described as a state of felt deprivation.

Accepted Answer

The answer of A ________ can be described as a...

Question 8

The name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products is known as its

Accepted Answer

A) brand. 
B) trademark. 
C) identifier. 
D) patent. 
E) logo. 
A) brand. 
B) trademark. 
C) identifier. 
D) patent. 
E) logo.

Question 9

The element of the marketing mix that is directly related to the value consumers place on a product is _________.

Accepted Answer

The answer of The element of the marketing mix that...

Question 10

Which trend is accurate regarding the future of marketing?

Accepted Answer

A) Posting news and information online in social media sites has not proven to be as successful as marketers thought since consumers often doubt the accuracy of the information posted. 
B) As technology impacts the business world, firms will need to explore new models that address what customers want and how they prefer to receive information. 
C) The number of cable television subscribers has increased in recent years, signaling to marketers that television advertising is still the preferred choice for marketing products. 
D) With the advent of technology, the basic goal of marketing has changed from how to create, communicate, and deliver value to consumers to how to better segment and target consumer markets. 
E) Even though newspaper circulation has decreased in recent years, it is still the preferred way to advertise because of its low cost. 
A) Posting news and information online in social media sites has not proven to be as successful as marketers thought since consumers often doubt the accuracy of the information posted. 
B) As technology impacts the business world, firms will need to explore new models that address what customers want and how they prefer to receive information. 
C) The number of cable television subscribers has increased in recent years, signaling to marketers that television advertising is still the preferred choice for marketing products. 
D) With the advent of technology, the basic goal of marketing has changed from how to create, communicate, and deliver value to consumers to how to better segment and target consumer markets. 
E) Even though newspaper circulation has decreased in recent years, it is still the preferred way to advertise because of its low cost.

Question 11

Firms with a ________ orientation believed that quality products would simply sell themselves.

Accepted Answer

The answer of Firms with a ________ orientation believed that...

Question 12

Promotion is typically the easiest marketing mix element to change.

Accepted Answer

A) True 
 B)False

Question 13

The four Ps are elements that make up the ________ ________.

Accepted Answer

The answer of The four Ps are elements that make...

Question 14

Platforms like Facebook and Twitter are changing how firms interact with customers to better meet the needs of the marketplace.

Accepted Answer

A) True 
 B)False

Question 15

A local family is advertising a 5K run to raise awareness for autism since one of their children suffers from the disorder. Tristshi likes to run, so she decides to pay the fee to participate in the event. Afterward, she is pleased that she went and felt good about helping out the family. Would this be considered a marketing exchange?

Accepted Answer

A) no, because Tristshi did not receive anything for participating in the event 
B) no, because the consumer needs of Tristshi were not met 
C) yes, because the family had to pay for advertising and therefore was engaged in marketing 
D) no, because the event involved a service but not a good 
E) yes, because participating in the run was exchanged for Tristshi's feeling of satisfaction for helping the family 
A) no, because Tristshi did not receive anything for participating in the event 
B) no, because the consumer needs of Tristshi were not met 
C) yes, because the family had to pay for advertising and therefore was engaged in marketing 
D) no, because the event involved a service but not a good 
E) yes, because participating in the run was exchanged for Tristshi's feeling of satisfaction for helping the family

Question 16

The swoosh symbol on its shoes, its orange shoe boxes, and the slogan "Just Do It" are elements that help to identify Nike's _________ from other firms' products.

Accepted Answer

The answer of The swoosh symbol on its shoes, its...

Question 17

According to your text, what is the secret of great marketing when it comes to creating value?

Accepted Answer

A) figuring out how to charge the highest price for a product that customers are willing to pay 
B) understanding the marketplace demands before competitors do 
C) consistently creating new products for the marketplace 
D) convincing customers that they need a product even if they do not 
E) saturating the market with all forms of advertising promotions 
A) figuring out how to charge the highest price for a product that customers are willing to pay 
B) understanding the marketplace demands before competitors do 
C) consistently creating new products for the marketplace 
D) convincing customers that they need a product even if they do not 
E) saturating the market with all forms of advertising promotions

Question 18

The AMA Code of Ethics is not necessarily something that marketers need to adhere to for every marketing approach.

Accepted Answer

A) True 
 B)False

Question 19

Compare the actions of each person to determine which one is satisfying a consumer need.

Accepted Answer

A) Although Gary's vacation home suits his needs, he would rather be closer to the ocean so he is going to look for a new place. 
B) The crime rate in Tara's neighborhood has increased dramatically, so she is going to invest in a home security system. 
C) Fuchsia is the "in" color right now, so Jasmine decides to replace her winter coat for a new one in that color. 
D) Don heard his coworkers rave about a new mini-series shown on HBO, so he decides to sign up for cable television. 
E) Dolores is throwing a dinner party. To impress her guests, she orders lobster from the local seafood market. 
A) Although Gary's vacation home suits his needs, he would rather be closer to the ocean so he is going to look for a new place. 
B) The crime rate in Tara's neighborhood has increased dramatically, so she is going to invest in a home security system. 
C) Fuchsia is the "in" color right now, so Jasmine decides to replace her winter coat for a new one in that color. 
D) Don heard his coworkers rave about a new mini-series shown on HBO, so he decides to sign up for cable television. 
E) Dolores is throwing a dinner party. To impress her guests, she orders lobster from the local seafood market.

Question 20

The leprechaun that appears on the box and the slogan "They're Magically Delicious" are elements that help to identify Kellogg's __________ from that of its competitors.

Accepted Answer

A) style 
B) brand 
C) trademark 
D) logo 
E) patent 
A) style 
B) brand 
C) trademark 
D) logo 
E) patent

According to the AMA's Code of Ethics, to acknowledge the basic human dignity of all stakeholders represents the ethical value of ________.

Compare the following statements regarding relationship marketing to determine which is most accurate?

The place element of the marketing mix involves the activities a firm undertakes to make its product available to potential customers.

What is the premise behind the marketing concept?

Determining the message that salespeople should use to communicate the value of the product and persuade customers to buy it, relates to the _________ element of the marketing mix.

A ________ can be described as a state of felt deprivation.

The name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products is known as its

The element of the marketing mix that is directly related to the value consumers place on a product is _________.

Which trend is accurate regarding the future of marketing?

Firms with a ________ orientation believed that quality products would simply sell themselves.

Promotion is typically the easiest marketing mix element to change.

The four Ps are elements that make up the .

Platforms like Facebook and Twitter are changing how firms interact with customers to better meet the needs of the marketplace.

The swoosh symbol on its shoes, its orange shoe boxes, and the slogan "Just Do It" are elements that help to identify Nike's _________ from other firms' products.

According to your text, what is the secret of great marketing when it comes to creating value?

The AMA Code of Ethics is not necessarily something that marketers need to adhere to for every marketing approach.

Compare the actions of each person to determine which one is satisfying a consumer need.

The leprechaun that appears on the box and the slogan "They're Magically Delicious" are elements that help to identify Kellogg's __________ from that of its competitors.

Strategic Planning

The Global Environment

Consumer Behavior

Marketing Research

Product Development

Segmentation, Targeting, and Positioning

Promotional Strategies

Personal Selling

Supply Chain and Logistics Management

Pricing

Retailing

Digital and Social Media Marketing

Branding

Customer Relationship Management

Social Responsibility and Sustainability

Filters

Exam 1: Why Marketing Matters to You

According to the AMA's Code of Ethics, to acknowledge the basic human dignity of all stakeholders represents the ethical value of ________.

Compare the following statements regarding relationship marketing to determine which is most accurate?

The place element of the marketing mix involves the activities a firm undertakes to make its product available to potential customers.

What is the premise behind the marketing concept?

Determining the message that salespeople should use to communicate the value of the product and persuade customers to buy it, relates to the _________ element of the marketing mix.

A ________ can be described as a state of felt deprivation.

The name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products is known as its

The element of the marketing mix that is directly related to the value consumers place on a product is _________.

Which trend is accurate regarding the future of marketing?

Firms with a ________ orientation believed that quality products would simply sell themselves.

Promotion is typically the easiest marketing mix element to change.

The four Ps are elements that make up the ________ ________.

Platforms like Facebook and Twitter are changing how firms interact with customers to better meet the needs of the marketplace.

The swoosh symbol on its shoes, its orange shoe boxes, and the slogan "Just Do It" are elements that help to identify Nike's _________ from other firms' products.

According to your text, what is the secret of great marketing when it comes to creating value?

The AMA Code of Ethics is not necessarily something that marketers need to adhere to for every marketing approach.

Compare the actions of each person to determine which one is satisfying a consumer need.

The leprechaun that appears on the box and the slogan "They're Magically Delicious" are elements that help to identify Kellogg's __________ from that of its competitors.

Strategic Planning

The Global Environment

Consumer Behavior

Marketing Research

Product Development

Segmentation, Targeting, and Positioning

Promotional Strategies

Personal Selling

Supply Chain and Logistics Management

Pricing

Retailing

Digital and Social Media Marketing

Branding

Customer Relationship Management

Social Responsibility and Sustainability

Filters

The four Ps are elements that make up the .