Question 1

The want satisfying power of a product is its _____.

Accepted Answer

A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing 
A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing

Question 2

Differentiate between transaction-based marketing and relationship marketing.

Accepted Answer

Historically,marketing was viewed as a s

Question 3

The most obvious distinction between not-for-profit and for-profit organizations is:

Accepted Answer

A)  not for-profit organizations have more exact marketing goals. 
B)  not-for-profit organizations have a different view of what constitutes the bottom line. 
C)  customers of not-for-profit organizations have more control. 
D)  not-for-profit organizations market services not goods. 
A)  not for-profit organizations have more exact marketing goals. 
B)  not-for-profit organizations have a different view of what constitutes the bottom line. 
C)  customers of not-for-profit organizations have more control. 
D)  not-for-profit organizations market services not goods.

Question 4

Explain the essence of marketing.

Accepted Answer

The essence of marketing includes managi

Question 5

Define ethics and social responsibility.Why are these two concepts important for marketers? Give an example of each behavior.

Accepted Answer

Ethics consists of moral standards of be

Question 6

Marketing of a product begins after it hits the shelf.

Accepted Answer

A) True 
 B)False

Question 7

In the relationship era,firms focus on:

Accepted Answer

A)  short-term relationships with suppliers. 
B)  long-term relationships with customers and suppliers. 
C)  short-term relationships with customers and suppliers. 
D)  short-term relationships with customers. 
A)  short-term relationships with suppliers. 
B)  long-term relationships with customers and suppliers. 
C)  short-term relationships with customers and suppliers. 
D)  short-term relationships with customers.

Question 8

What is the ultimate objective of relationship marketing?

Accepted Answer

A)  Find new customers 
B)  Create regular purchasers 
C)  Turn customers into advocates 
D)  Turn customers into loyal supporters 
A)  Find new customers 
B)  Create regular purchasers 
C)  Turn customers into advocates 
D)  Turn customers into loyal supporters

Question 9

The concert of a French rock band was promoted by a certain firm in the United States.This is an example of _____.

Accepted Answer

A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing 
A) utility 
B) buzz marketing 
C) exchange process 
D) seller's market 
E) buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing

Question 10

The basic objective of place marketing is to:

Accepted Answer

A)  attract visitors or new businesses to a particular area. 
B)  influence others to accept the goals of the sponsoring organization. 
C)  convince people to attend a sporting or cultural event. 
D)  bring to the attention of the public some charitable issue. 
A)  attract visitors or new businesses to a particular area. 
B)  influence others to accept the goals of the sponsoring organization. 
C)  convince people to attend a sporting or cultural event. 
D)  bring to the attention of the public some charitable issue.

Question 11

A university sells customized sweat shirts,pull overs,and jerseys to its students and staff.This is an example of _____.

Accepted Answer

A)  cause marketing 
B)  organization marketing 
C)  person marketing 
D)  event marketing 
A)  cause marketing 
B)  organization marketing 
C)  person marketing 
D)  event marketing

Question 12

The future growth of a company is endangered when management:

Accepted Answer

A)  adopts a consumer orientation. 
B)  is aware of the scope of its business. 
C)  is committed to maintaining a product-oriented philosophy. 
D)  is focused on converting customer needs to wants. 
A)  adopts a consumer orientation. 
B)  is aware of the scope of its business. 
C)  is committed to maintaining a product-oriented philosophy. 
D)  is focused on converting customer needs to wants.

Question 13

Buying and selling are:

Accepted Answer

A)  the two exchange functions of marketing. 
B)  physical distribution functions. 
C)  exchange and distribution functions, respectively. 
D)  distribution and exchange functions, respectively. 
A)  the two exchange functions of marketing. 
B)  physical distribution functions. 
C)  exchange and distribution functions, respectively. 
D)  distribution and exchange functions, respectively.

Question 14

Virtually all colleges and universities have alumni associations that publish magazines,hold reunions,and try to raise funds.These activities constitute organization marketing.

Accepted Answer

A) True 
 B)False

Question 15

Marketing is the indirect connection between a firm and its customers.

Accepted Answer

A) True 
 B)False

Question 16

Firms that make the most efficient use of buzz marketing claim that it is a "one-way" approach to building customer relationships.

Accepted Answer

A) True 
 B)False

Question 17

Compared to transaction marketing,relationship marketing relies more heavily on information technologies.

Accepted Answer

A) True 
 B)False

Question 18

Explain the need for and the role of

Accepted Answer

Today's organizations-both profit orient

Question 19

Firms that narrowly define their organizational goals can avoid the problem of marketing myopia.

Accepted Answer

A) True 
 B)False

Question 20

An organization creates a customer through a three-step approach: identifying
needs in the marketplace,finding out which needs the organization can profitably serve,and
developing goods and services to convert potential buyers into customers.

Accepted Answer

A) True 
 B)False

Exam 1: Marketing: The Art and Science of Satisfying Customers

The want satisfying power of a product is its _____.

Differentiate between transaction-based marketing and relationship marketing.

The most obvious distinction between not-for-profit and for-profit organizations is:

Explain the essence of marketing.

Define ethics and social responsibility.Why are these two concepts important for marketers? Give an example of each behavior.

Marketing of a product begins after it hits the shelf.

In the relationship era,firms focus on:

What is the ultimate objective of relationship marketing?

The concert of a French rock band was promoted by a certain firm in the United States.This is an example of _____.

The basic objective of place marketing is to:

A university sells customized sweat shirts,pull overs,and jerseys to its students and staff.This is an example of _____.

The future growth of a company is endangered when management:

Buying and selling are:

Virtually all colleges and universities have alumni associations that publish magazines,hold reunions,and try to raise funds.These activities constitute organization marketing.

Marketing is the indirect connection between a firm and its customers.

Firms that make the most efficient use of buzz marketing claim that it is a "one-way" approach to building customer relationships.

Compared to transaction marketing,relationship marketing relies more heavily on information technologies.

Explain the need for and the role of

Firms that narrowly define their organizational goals can avoid the problem of marketing myopia.

An organization creates a customer through a three-step approach: identifying needs in the marketplace,finding out which needs the organization can profitably serve,and developing goods and services to convert potential buyers into customers.

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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