Question 1

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 2

The value chain activity of ________ refers to converting materials into a final product for consumers.

Accepted Answer

A)  inbound logistics 
B)  outbound logistics 
C)  operations 
D)  marketing 
E)  service 
A)  inbound logistics 
B)  outbound logistics 
C)  operations 
D)  marketing 
E)  service

Question 3

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.

Accepted Answer

A)  Value propositioning 
B)  Collaborative consumption 
C)  The societal marketing concept 
D)  A sales orientation 
E)  Green marketing 
A)  Value propositioning 
B)  Collaborative consumption 
C)  The societal marketing concept 
D)  A sales orientation 
E)  Green marketing

Question 4

Why should a firm be aware of its competitors' distinctive competencies?

Accepted Answer

A distinctive competence is a firm's cap

Question 5

Discuss how the principles of marketing can be applied to people.

Accepted Answer

The principles of marketing apply to peo

Question 6

A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.

Accepted Answer

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

Question 7

Give three examples of modern marketplaces.

Accepted Answer

Answers will vary, but should

Question 8

Today, it's most likely that companies selling unsought goods will use a selling orientation.

Accepted Answer

A) True 
 B)False

Question 9

Write two questions that a firm would be likely to consider during the market planning stage.

Accepted Answer

Answers will vary, but should reflect an

Question 10

According to the theory of the wisdom of crowds, under the right circumstances ________.

Accepted Answer

A)  a mass market approach is favorable to a target market approach 
B)  a target market approach is favorable to a mass market approach 
C)  groups are smarter than the smartest people in them 
D)  companies can make money by giving their products away for free 
E)  consumers can generate value 
A)  a mass market approach is favorable to a target market approach 
B)  a target market approach is favorable to a mass market approach 
C)  groups are smarter than the smartest people in them 
D)  companies can make money by giving their products away for free 
E)  consumers can generate value

Question 11

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 12

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 13

A glitzy shopping mall, a mail-order catalog, a television shopping network, and an e-commerce website are all examples of ________.

Accepted Answer

A)  marketing concepts 
B)  value chains 
C)  monopolies 
D)  marketplaces 
E)  strategic business units 
A)  marketing concepts 
B)  value chains 
C)  monopolies 
D)  marketplaces 
E)  strategic business units

Question 14

A firm has a competitive advantage when it is able to outperform the competition, providing customers with a desired benefit not provided by the competition.

Accepted Answer

A) True 
 B)False

Question 15

Identify the Four Ps in the following description: Rosa Alvarez markets 23 different varieties of salsa in 8-ounce and 12-ounce bottles at supermarkets in the southwestern United States. The 8-ounce bottle sells for $5.95, and the larger size sells for $7.95. Periodically, she sets up a table in one of the marketplaces that carries her salsa brand and offers customers a sample. She recently received considerable publicity for being the "Hispanic Entrepreneur of the Year."

Accepted Answer

The Four Ps are product, price, place, a

Question 16

Nongovernmental organizations are also known as ________.

Accepted Answer

A)  consumer organizations 
B)  public organizations 
C)  private organizations 
D)  not-for-profit organizations 
E)  for-profit organizations 
A)  consumer organizations 
B)  public organizations 
C)  private organizations 
D)  not-for-profit organizations 
E)  for-profit organizations

Question 17

Selecting a mass market, a firm risks losing potential customers to competitors who instead try to meet the needs of specific target markets.

Accepted Answer

A) True 
 B)False

Question 18

The ratio of benefits to costs is one way to think of ________.

Accepted Answer

A)  sustainability 
B)  profits 
C)  value 
D)  competitive advantage 
E)  distinctive competency 
A)  sustainability 
B)  profits 
C)  value 
D)  competitive advantage 
E)  distinctive competency

Question 19

The first phase of marketing planning is the development of a market position.

Accepted Answer

A) True 
 B)False

Question 20

When a firm analyzes the marketing environment, it is least likely to look at which of the following?

Accepted Answer

A)  the firm's current strengths 
B)  the firm's current weaknesses 
C)  the actions of competitors 
D)  the state of the economy 
E)  the cost of developing a new product 
A)  the firm's current strengths 
B)  the firm's current weaknesses 
C)  the actions of competitors 
D)  the state of the economy 
E)  the cost of developing a new product

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

The value chain activity of ________ refers to converting materials into a final product for consumers.

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.

Why should a firm be aware of its competitors' distinctive competencies?

Discuss how the principles of marketing can be applied to people.

A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.

Give three examples of modern marketplaces.

Today, it's most likely that companies selling unsought goods will use a selling orientation.

Write two questions that a firm would be likely to consider during the market planning stage.

According to the theory of the wisdom of crowds, under the right circumstances ________.

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.

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

A glitzy shopping mall, a mail-order catalog, a television shopping network, and an e-commerce website are all examples of ________.

A firm has a competitive advantage when it is able to outperform the competition, providing customers with a desired benefit not provided by the competition.

Nongovernmental organizations are also known as ________.

Selecting a mass market, a firm risks losing potential customers to competitors who instead try to meet the needs of specific target markets.

The ratio of benefits to costs is one way to think of ________.

The first phase of marketing planning is the development of a market position.

When a firm analyzes the marketing environment, it is least likely to look at which of the following?

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 and Sales Promotion

Promotion Ii: Social Media, Directdatabase Marketing, Personal Selling, and Public Relations

Filters

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

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

The value chain activity of ________ refers to converting materials into a final product for consumers.

________ maintains that marketers must satisfy customers' needs in ways that also benefit society and are profitable to the firm.

Why should a firm be aware of its competitors' distinctive competencies?

Discuss how the principles of marketing can be applied to people.

A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.

Give three examples of modern marketplaces.

Today, it's most likely that companies selling unsought goods will use a selling orientation.

Write two questions that a firm would be likely to consider during the market planning stage.

According to the theory of the wisdom of crowds, under the right circumstances ________.

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.

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

A glitzy shopping mall, a mail-order catalog, a television shopping network, and an e-commerce website are all examples of ________.

A firm has a competitive advantage when it is able to outperform the competition, providing customers with a desired benefit not provided by the competition.

Nongovernmental organizations are also known as ________.

Selecting a mass market, a firm risks losing potential customers to competitors who instead try to meet the needs of specific target markets.

The ratio of benefits to costs is one way to think of ________.

The first phase of marketing planning is the development of a market position.

When a firm analyzes the marketing environment, it is least likely to look at which of the following?

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 and Sales Promotion

Promotion Ii: Social Media, Directdatabase Marketing, Personal Selling, and Public Relations

Filters