Question 1

One difference between "Greek" yogurt and "American" yogurt is that the latter

Accepted Answer

A) has a gritty texture. 
B) has a thin consistency. 
C) is not sweet enough for health-conscience palettes. 
D) is only sold in health or natural food stores. 
E) has high protein content. 
A) has a gritty texture. 
B) has a thin consistency. 
C) is not sweet enough for health-conscience palettes. 
D) is only sold in health or natural food stores. 
E) has high protein content.

Question 2

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.Once he has accumulated enough points,he can trade his points in for a free night's stay.As a member of this program,the traveler receives periodic updates on new hotels and learns of ways to earn additional points.The marketing term that best describes this scenario is

Accepted Answer

A) relationship marketing. 
B) customer satisfaction promotion. 
C) customer relationship management. 
D) customer valuation. 
E) supplier-consumer partnership. 
A) relationship marketing. 
B) customer satisfaction promotion. 
C) customer relationship management. 
D) customer valuation. 
E) supplier-consumer partnership.

Question 3

The best description of the market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Accepted Answer

A) toddlers with crooked baby teeth,when crooked teeth run in the family. 
B) all former smokers who have been smoke-free for at least one year. 
C) anyone who has the time,the money,and the desire to undergo the procedures. 
D) anyone who has dental insurance. 
E) adults who want to make a good first impression for an event. 
A) toddlers with crooked baby teeth,when crooked teeth run in the family. 
B) all former smokers who have been smoke-free for at least one year. 
C) anyone who has the time,the money,and the desire to undergo the procedures. 
D) anyone who has dental insurance. 
E) adults who want to make a good first impression for an event.

Question 4

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Accepted Answer

A) customer value proposition 
B) protocol 
C) mission statement 
D) core values 
E) marketing program 
A) customer value proposition 
B) protocol 
C) mission statement 
D) core values 
E) marketing program

Question 5

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Accepted Answer

Exchange is the trade of things of value

Question 6

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

Accepted Answer

A) The marketing department typically works as an independent unit,mostly interacting with other parts of the business only to direct product promotion. 
B) The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces. 
C) The marketing department is only responsible for two of the four Ps. 
D) The marketing department is only responsible for market research,supervision of product development,and product promotion. 
E) The marketing department must work closely with other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper. 
A) The marketing department typically works as an independent unit,mostly interacting with other parts of the business only to direct product promotion. 
B) The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces. 
C) The marketing department is only responsible for two of the four Ps. 
D) The marketing department is only responsible for market research,supervision of product development,and product promotion. 
E) The marketing department must work closely with other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.

Question 7

Marketing managers use a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Accepted Answer

To reach consumers,marketing managers us

Question 8

Relationship marketing refers to

Accepted Answer

A) the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers. 
B) the belief that it is easier and less expensive to find new customers than to retain old ones. 
C) the linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits. 
D) the process of identifying prospective buyers,understanding them intimately,and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace. 
E) exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party. 
A) the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers. 
B) the belief that it is easier and less expensive to find new customers than to retain old ones. 
C) the linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits. 
D) the process of identifying prospective buyers,understanding them intimately,and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace. 
E) exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.

Question 9

Product,price,promotion,and place are all components of

Accepted Answer

A) the firm's required ongoing activities. 
B) the marketing mix. 
C) factors used to examine competitors' products. 
D) the cluster of benefits that an organization develops to satisfy consumers' needs. 
E) people with both the desire and the ability to buy a specific offering. 
A) the firm's required ongoing activities. 
B) the marketing mix. 
C) factors used to examine competitors' products. 
D) the cluster of benefits that an organization develops to satisfy consumers' needs. 
E) people with both the desire and the ability to buy a specific offering.

Question 10

Figure 1-5
  
-In Figure 1-5 above,"C" represents which era in U.S.business history?

Accepted Answer

A) sales era 
B) production era 
C) consumerism era 
D) marketing concept era 
E) customer relationship era 
A) sales era 
B) production era 
C) consumerism era 
D) marketing concept era 
E) customer relationship era

Question 11

A student would like to buy a cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

Accepted Answer

A) two or more parties have unsatisfied needs. 
B) there is no desire on the part of either party to satisfy its needs. 
C) one of the involved parties does not have the ability to satisfy its needs. 
D) there is no way for each party to communicate with one another. 
E) there has been no assessment of consumer wants and needs. 
A) two or more parties have unsatisfied needs. 
B) there is no desire on the part of either party to satisfy its needs. 
C) one of the involved parties does not have the ability to satisfy its needs. 
D) there is no way for each party to communicate with one another. 
E) there has been no assessment of consumer wants and needs.

Question 12

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

Accepted Answer

Students' examples will differ,but each

Question 13

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 14

Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Accepted Answer

A) a lack of advertising on television. 
B) that mid-calorie soft drinks such as Pepsi Next (2012)have not been successful in the past. 
C) a lower profit margin due to the added costs of expensive ingredients. 
D) cannibalization of the company's existing sodas. 
E) the use of a combination of sugar and stevia leaf extract. 
A) a lack of advertising on television. 
B) that mid-calorie soft drinks such as Pepsi Next (2012)have not been successful in the past. 
C) a lower profit margin due to the added costs of expensive ingredients. 
D) cannibalization of the company's existing sodas. 
E) the use of a combination of sugar and stevia leaf extract.

Question 15

Which of the following organizations engage in marketing?

Accepted Answer

A) the Chicago Cubs 
B) the San Francisco Opera 
C) the City of Denver 
D) the President of the United States 
E) Every organization or individual can engage in marketing to some extent. 
A) the Chicago Cubs 
B) the San Francisco Opera 
C) the City of Denver 
D) the President of the United States 
E) Every organization or individual can engage in marketing to some extent.

Question 16

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

Accepted Answer

A) production orientation. 
B) sales orientation. 
C) customer relationship orientation. 
D) service orientation. 
E) market orientation. 
A) production orientation. 
B) sales orientation. 
C) customer relationship orientation. 
D) service orientation. 
E) market orientation.

Question 17

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Accepted Answer

A) all people with an interest in professional football 
B) all people in the Midwest who have an interest in sports 
C) all men who played on a varsity football team in high school 
D) all people in the Indianapolis and surrounding areas interested in football 
E) all people in Indiana who watch football on TV 
A) all people with an interest in professional football 
B) all people in the Midwest who have an interest in sports 
C) all men who played on a varsity football team in high school 
D) all people in the Indianapolis and surrounding areas interested in football 
E) all people in Indiana who watch football on TV

Question 18

Market segments refer to

Accepted Answer

A) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process. 
B) all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future. 
C) the smallest number of buyers that have similar needs but do not react similarly in a buying situation. 
D) the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action. 
E) all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so. 
A) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process. 
B) all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future. 
C) the smallest number of buyers that have similar needs but do not react similarly in a buying situation. 
D) the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action. 
E) all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Question 19

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

Accepted Answer

A) The marketing concept can trace its roots to early Greek culture. 
B) In using the marketing concept,both companies and consumers are able to satisfy needs simultaneously. 
C) In using the marketing concept,companies focus on sales and advertising. 
D) The marketing concept is most effective when production is limited and the product will sell itself. 
E) All U.S.firms are now operating with a marketing concept philosophy. 
A) The marketing concept can trace its roots to early Greek culture. 
B) In using the marketing concept,both companies and consumers are able to satisfy needs simultaneously. 
C) In using the marketing concept,companies focus on sales and advertising. 
D) The marketing concept is most effective when production is limited and the product will sell itself. 
E) All U.S.firms are now operating with a marketing concept philosophy.

Question 20

What are the three components of a person's ability to buy an offering?

Accepted Answer

The three components

Exam 1: Creating Customer Relationships and Value Through Marketing

One difference between "Greek" yogurt and "American" yogurt is that the latter

The best description of the market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

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

Marketing managers use a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Relationship marketing refers to

Product,price,promotion,and place are all components of

Figure 1-5 -In Figure 1-5 above,"C" represents which era in U.S.business history?

A student would like to buy a cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

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

Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Which of the following organizations engage in marketing?

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Market segments refer to

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

What are the three components of a person's ability to buy an offering?

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

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

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

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