Question 1

All of the following are factors required for marketing to occur except which?

Accepted Answer

A)  a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied 
B)  something to exchange between two or more parties (individuals or organizations) 
C)  two or more parties (individuals or organizations) with the same wants 
D)  two or more parties (individuals or organizations) with unsatisfied needs 
E)  a way for the parties (individuals or organizations) to communicate 
A)  a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied 
B)  something to exchange between two or more parties (individuals or organizations) 
C)  two or more parties (individuals or organizations) with the same wants 
D)  two or more parties (individuals or organizations) with unsatisfied needs 
E)  a way for the parties (individuals or organizations) to communicate C

Question 2

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Accepted Answer

A)  financial remuneration. 
B)  exchange. 
C)  countertrade. 
D)  barter. 
E)  marketing. 
A)  financial remuneration. 
B)  exchange. 
C)  countertrade. 
D)  barter. 
E)  marketing. B

Question 3

A local university offers business courses for a target market of people who currently work and want to take refresher courses for certification in their business field (marketing, accounting, etc.). Which of the following would be the most effective way to communicate with the target market, bearing in mind that communication must be both effective and economical?

Accepted Answer

A)  put announcements on campus bulletin boards 
B)  distribute promotional materials during classes 
C)  advertise on national television 
D)  advertise on local hip-hop radio shows 
E)  advertise on LinkedIn, social media for professionals 
A)  put announcements on campus bulletin boards 
B)  distribute promotional materials during classes 
C)  advertise on national television 
D)  advertise on local hip-hop radio shows 
E)  advertise on LinkedIn, social media for professionals E

Question 4

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

Question 5

Elon Musk was involved in the inception of all of the following companies except which?

Accepted Answer

A)  SpaceX 
B)  PayPal 
C)  Tesla 
D)  Facebook 
E)  SolarCity 
A)  SpaceX 
B)  PayPal 
C)  Tesla 
D)  Facebook 
E)  SolarCity

Question 6

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except which?

Accepted Answer

A)  sponsor U.S. Olympic and Paralympic teams 
B)  price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share 
C)  create a variety of advertising campaigns for the Chobani YouTube channel 
D)  rely on word of mouth to reach new customers 
E)  air a Super Bowl commercial featuring a large bear searching for a snack 
A)  sponsor U.S. Olympic and Paralympic teams 
B)  price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share 
C)  create a variety of advertising campaigns for the Chobani YouTube channel 
D)  rely on word of mouth to reach new customers 
E)  air a Super Bowl commercial featuring a large bear searching for a snack

Question 7

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Accepted Answer

A)  the marketing concept. 
B)  the marketing mix. 
C)  the marketing program. 
D)  environmental forces. 
E)  the marketing toolbox. 
A)  the marketing concept. 
B)  the marketing mix. 
C)  the marketing program. 
D)  environmental forces. 
E)  the marketing toolbox.

Question 8

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation 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 9

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 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 unreasonably for the 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 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 unreasonably for the 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.

Question 10

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)  By providing unique value for targeted buyers, firms can 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)  By providing unique value for targeted buyers, firms can build long-term relationships with them.

Question 11

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters and the Post-it® Flag Pens are true except which?

Accepted Answer

A)  Office workers were the primary target marketing for the Post-it® Flag Pen. 
B)  Students were initially the intended target market for the Post-it® Flag Highlighter. 
C)  Low price was the primary consideration in choosing among distribution options for both Post-it® Flag Highlighters and the Post-it® Flag Pens. 
D)  David Windorski, the designer of the Post-it® Flag Highlighter, appeared on "The Oprah Winfrey Show" so Winfrey could thank him in person for "his most incredible invention." 
E)  3M recently introduced the 3-in-1 combination Post-it® Flag + Highlighter & Pen. 
A)  Office workers were the primary target marketing for the Post-it® Flag Pen. 
B)  Students were initially the intended target market for the Post-it® Flag Highlighter. 
C)  Low price was the primary consideration in choosing among distribution options for both Post-it® Flag Highlighters and the Post-it® Flag Pens. 
D)  David Windorski, the designer of the Post-it® Flag Highlighter, appeared on "The Oprah Winfrey Show" so Winfrey could thank him in person for "his most incredible invention." 
E)  3M recently introduced the 3-in-1 combination Post-it® Flag + Highlighter & Pen.

Question 12

All of the following are true about marketing except which?

Accepted Answer

A)  Marketing is a broader activity than advertising. 
B)  Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers. 
C)  Successful marketing usually results in one "winner" and one or more "losers." 
D)  When an organization engages in marketing, it should also create value for its partners and society. 
E)  Marketing is a broader activity than personal selling. 
A)  Marketing is a broader activity than advertising. 
B)  Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers. 
C)  Successful marketing usually results in one "winner" and one or more "losers." 
D)  When an organization engages in marketing, it should also create value for its partners and society. 
E)  Marketing is a broader activity than personal selling.

Question 13

Which of the following statements about marketing activities is most accurate?

Accepted Answer

A)  Marketing is affected by society but rarely, if ever, affects society as a whole. 
B)  The marketing department both shapes and is shaped by its relationship with internal and external groups. 
C)  Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall). 
D)  Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. 
E)  Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it. 
A)  Marketing is affected by society but rarely, if ever, affects society as a whole. 
B)  The marketing department both shapes and is shaped by its relationship with internal and external groups. 
C)  Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall). 
D)  Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. 
E)  Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.

Question 14

________ responsible for establishing the organization's mission and objectives.

Accepted Answer

A)  Marketers are 
B)  Suppliers are 
C)  Customers are 
D)  Senior management is 
E)  Shareholders are 
A)  Marketers are 
B)  Suppliers are 
C)  Customers are 
D)  Senior management is 
E)  Shareholders are

Question 15

Social responsibility is

Accepted Answer

A)  the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. 
B)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time. 
C)  the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals. 
D)  the idea that individuals and organizations are accountable to a larger society. 
E)  the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth. 
A)  the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. 
B)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time. 
C)  the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals. 
D)  the idea that individuals and organizations are accountable to a larger society. 
E)  the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.

Question 16

The new Nutritional Fact label requirements taking effect in 2020 will provide more information about added sugars. In anticipation, Coca-Cola is testing Coca-Cola Stevia, which will be sweetened only with stevia. A potential showstopper for this product is likely to be

Accepted Answer

A)  a lack of advertising on television. 
B)  previous products with stevia sweetener had a bitter aftertaste. 
C)  a lower profit margin due to the added costs of expensive ingredients. 
D)  cannibalization of the company's existing sodas. 
E)  pressure from the cane sugar and corn industries. 
A)  a lack of advertising on television. 
B)  previous products with stevia sweetener had a bitter aftertaste. 
C)  a lower profit margin due to the added costs of expensive ingredients. 
D)  cannibalization of the company's existing sodas. 
E)  pressure from the cane sugar and corn industries.

Question 17

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Accepted Answer

A)  mass market. 
B)  base market. 
C)  potential market. 
D)  target market. 
E)  promotional market. 
A)  mass market. 
B)  base market. 
C)  potential market. 
D)  target market. 
E)  promotional market.

Question 18

The marketing department of an organization is responsible for facilitating

Accepted Answer

A)  relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations. 
B)  healthy competition with other product manufacturers. 
C)  financial contracts with banks and other lending institutions. 
D)  alliances with firms with noncompetitive products that target similar markets. 
E)  the coordination between the various departments within the entire firm. 
A)  relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations. 
B)  healthy competition with other product manufacturers. 
C)  financial contracts with banks and other lending institutions. 
D)  alliances with firms with noncompetitive products that target similar markets. 
E)  the coordination between the various departments within the entire firm.

Question 19

All of the following are aspects of Trader Joe's customer experience except which?

Accepted Answer

A)  It has a large and expensive research and development facility. 
B)  It offers unusual food products not available from other retailers. 
C)  Its commitment to customer experience has resulted in its rank as a favorite supermarket. 
D)  It sets low prices by offering its own brands, not national ones. 
E)  It provides rare employee "engagement" to help customers. 
A)  It has a large and expensive research and development facility. 
B)  It offers unusual food products not available from other retailers. 
C)  Its commitment to customer experience has resulted in its rank as a favorite supermarket. 
D)  It sets low prices by offering its own brands, not national ones. 
E)  It provides rare employee "engagement" to help customers.

Question 20

Figure 1-2
-In Figure 1-2, "A" represents ________ and "B" represents ________.

Accepted Answer

A)  decisions by management; purchases by customers 
B)  employees efforts; stakeholder rewards 
C)  sales department; manufacturing department 
D)  suppliers; distributors 
E)  discovering consumer needs; satisfying consumer needs 
A)  decisions by management; purchases by customers 
B)  employees efforts; stakeholder rewards 
C)  sales department; manufacturing department 
D)  suppliers; distributors 
E)  discovering consumer needs; satisfying consumer needs

All of the following are factors required for marketing to occur except which?

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

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

Elon Musk was involved in the inception of all of the following companies except which?

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except which?

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation is most closely related to the ________ element of the marketing mix.

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

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

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters and the Post-it® Flag Pens are true except which?

All of the following are true about marketing except which?

Which of the following statements about marketing activities is most accurate?

________ responsible for establishing the organization's mission and objectives.

Social responsibility is

The new Nutritional Fact label requirements taking effect in 2020 will provide more information about added sugars. In anticipation, Coca-Cola is testing Coca-Cola Stevia, which will be sweetened only with stevia. A potential showstopper for this product is likely to be

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

The marketing department of an organization is responsible for facilitating

All of the following are aspects of Trader Joe's customer experience except which?

Figure 1-2 -In Figure 1-2, "A" represents and "B" represents .

Developing Successful Organizational and Marketing Strategies

Understanding 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

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters

Exam 1: Creating Customer Relationships and Value Through Marketing

All of the following are factors required for marketing to occur except which?

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

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

Elon Musk was involved in the inception of all of the following companies except which?

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except which?

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation is most closely related to the ________ element of the marketing mix.

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

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

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters and the Post-it® Flag Pens are true except which?

All of the following are true about marketing except which?

Which of the following statements about marketing activities is most accurate?

________ responsible for establishing the organization's mission and objectives.

Social responsibility is

The new Nutritional Fact label requirements taking effect in 2020 will provide more information about added sugars. In anticipation, Coca-Cola is testing Coca-Cola Stevia, which will be sweetened only with stevia. A potential showstopper for this product is likely to be

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

The marketing department of an organization is responsible for facilitating

All of the following are aspects of Trader Joe's customer experience except which?

Figure 1-2 -In Figure 1-2, "A" represents ________ and "B" represents ________.

Developing Successful Organizational and Marketing Strategies

Understanding 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

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters

Figure 1-2 -In Figure 1-2, "A" represents and "B" represents .