Question 1

Which of the following statements about marketing is most accurate?

Accepted Answer

A) Unless you take a marketing class, you will never truly know anything about marketing. 
B) Marketing is nothing more than common sense. 
C) Marketing requires an innate sense of creativity; you either have it or you don't. 
D) You can call yourself a marketing expert only if you have sold something. 
E) You are already a marketing expert as you make marketing-related decisions every day. 
A) Unless you take a marketing class, you will never truly know anything about marketing. 
B) Marketing is nothing more than common sense. 
C) Marketing requires an innate sense of creativity; you either have it or you don't. 
D) You can call yourself a marketing expert only if you have sold something. 
E) You are already a marketing expert as you make marketing-related decisions every day. E

Question 2

The Terrafugia Transition is a 19-foot, two-seater, road-drivable, light-sport aircraft with an anticipated price of $279,000. The most likely prospective customers for this flying car would include

Accepted Answer

A) students who attend college at least 500 miles away from home. 
B) retired seniors receiving Social Security. 
C) executives for whom time is extremely important. 
D) teens who like to try new things. 
E) families in need of a second vehicle. 
A) students who attend college at least 500 miles away from home. 
B) retired seniors receiving Social Security. 
C) executives for whom time is extremely important. 
D) teens who like to try new things. 
E) families in need of a second vehicle. C

Question 3

A target market refers to

Accepted Answer

A) customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers. 
B) both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs. 
C) a specific group of current consumers toward which an organization directs its advertising. 
D) one or more specific groups of potential consumers who are seeking a product for which there are no current substitutes. 
E) one or more specific groups of potential consumers toward which an organization directs its marketing program. 
A) customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers. 
B) both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs. 
C) a specific group of current consumers toward which an organization directs its advertising. 
D) one or more specific groups of potential consumers who are seeking a product for which there are no current substitutes. 
E) one or more specific groups of potential consumers toward which an organization directs its marketing program. E

Question 4

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 u

Question 5

A student wants to buy a smartphone so she can share pictures with her friends. An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures, write a report, etc.). If they both purchase the same model smartphone, such as an Apple iPhone, which statement is most accurate?

Accepted Answer

A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment. 
B) Both the adjuster and the student are potential customers because in their own way, they both benefit from the smartphone. 
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers. 
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use. 
E) Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones. 
A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment. 
B) Both the adjuster and the student are potential customers because in their own way, they both benefit from the smartphone. 
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers. 
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use. 
E) Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones.

Question 6

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

Accepted Answer

A) the best airport experience. 
B) the most convenient flight schedules. 
C) the best price for the distance traveled. 
D) the best in-flight service. 
E) the greatest sense of personal safety. 
A) the best airport experience. 
B) the most convenient flight schedules. 
C) the best price for the distance traveled. 
D) the best in-flight service. 
E) the greatest sense of personal safety.

Question 7

The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and before- and after-sale service at a specific price is called

Accepted Answer

A) customer value. 
B) target marketing. 
C) benefit proposition. 
D) value-based marketing. 
E) a customer value proposition. 
A) customer value. 
B) target marketing. 
C) benefit proposition. 
D) value-based marketing. 
E) a customer value proposition.

Question 8

Ultimate consumers are

Accepted Answer

A) the people who use the products and services purchased for a household. 
B) people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases. 
C) people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs. 
D) those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. 
E) one or more specific groups of potential customers toward whom an organization directs its marketing program. 
A) the people who use the products and services purchased for a household. 
B) people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases. 
C) people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs. 
D) those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. 
E) one or more specific groups of potential customers toward whom an organization directs its marketing program.

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

In response to a growing interest in healthful, nutritious, organic products, Chobani created

Accepted Answer

A) an Italian-style ragù sauce. 
B) a Turkish-style cottage cheese. 
C) a French-style butter. 
D) a Greek-style yogurt. 
E) an Asian-style teriyaki sauce. 
A) an Italian-style ragù sauce. 
B) a Turkish-style cottage cheese. 
C) a French-style butter. 
D) a Greek-style yogurt. 
E) an Asian-style teriyaki sauce.

Question 11

A want refers to

Accepted Answer

A) a sense of personal inadequacy based upon observations by others around you. 
B) a powerful desire that causes a person to take action. 
C) a need that is shaped by a person's knowledge, culture, or personality. 
D) a feeling of being deprived of something, but not fully understanding what it may be. 
E) a situation when a person feels deprived of basic necessities such as food, clothing, and shelter. 
A) a sense of personal inadequacy based upon observations by others around you. 
B) a powerful desire that causes a person to take action. 
C) a need that is shaped by a person's knowledge, culture, or personality. 
D) a feeling of being deprived of something, but not fully understanding what it may be. 
E) a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.

Question 12

The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Accepted Answer

A) purchasing 
B) marketing 
C) human resources 
D) accounting 
E) information systems 
A) purchasing 
B) marketing 
C) human resources 
D) accounting 
E) information systems

Question 13

Today, the standards of marketing practice have shifted from the interests of producers to the interests of

Accepted Answer

A) nonprofit organizations. 
B) government. 
C) suppliers. 
D) resellers. 
E) consumers. 
A) nonprofit organizations. 
B) government. 
C) suppliers. 
D) resellers. 
E) consumers.

Question 14

The pricing strategy for 3M's Post-it Flag Highlighters was to

Accepted Answer

A) match its principal competitors' highlighters' prices. 
B) charge a price that would provide genuine value to the target customer segment. 
C) set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated. 
D) place the product in discount office supply retailers to make it easier to purchase. 
E) use the same pricing strategy as its 3M's Post-it Flag and Post-it Note offerings. 
A) match its principal competitors' highlighters' prices. 
B) charge a price that would provide genuine value to the target customer segment. 
C) set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated. 
D) place the product in discount office supply retailers to make it easier to purchase. 
E) use the same pricing strategy as its 3M's Post-it Flag and Post-it Note offerings.

Question 15

Chobani used all of the following tactics to promote its Greek yogurt except

Accepted Answer

A) sponsored the Food Network's "Rachael vs. Guy: Kids Kick-Off" TV show with its Chobani Champions Tubes. 
B) created a website to provide consumers with recipes that use Chobani yogurt. 
C) sponsored the 2012 and 2014 U.S. Olympic Teams. 
D) used social networks Facebook, Twitter, Pinterest, and Instagram. 
E) relied on word of mouth in its early years. 
A) sponsored the Food Network's "Rachael vs. Guy: Kids Kick-Off" TV show with its Chobani Champions Tubes. 
B) created a website to provide consumers with recipes that use Chobani yogurt. 
C) sponsored the 2012 and 2014 U.S. Olympic Teams. 
D) used social networks Facebook, Twitter, Pinterest, and Instagram. 
E) relied on word of mouth in its early years.

Question 16

A product

Accepted Answer

A) consists of the benefits or customer value received by its sellers. 
B) is the cluster of benefits that an organization promises customers to satisfy their needs. 
C) is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value. 
D) consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort. 
E) is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
A) consists of the benefits or customer value received by its sellers. 
B) is the cluster of benefits that an organization promises customers to satisfy their needs. 
C) is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value. 
D) consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort. 
E) is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.

Question 17

Assume you are a salesperson for a direct marketing firm that does in-home jewelry parties. If most of your hosts or hostesses hold only one party a year, what strategies could you use to build strong customer relationships? If you are creating your own business for this example, make sure to describe your product(s) in your introductory sentence.

Accepted Answer

A quality answer should have a strong em

Question 18

An organization's marketing department relates to

Accepted Answer

A) satisfying primarily consumer needs. 
B) many people, organizations, and forces. 
C) the needs and wants mostly of shareholders. 
D) customers before other entities. 
E) other internal departments. 
A) satisfying primarily consumer needs. 
B) many people, organizations, and forces. 
C) the needs and wants mostly of shareholders. 
D) customers before other entities. 
E) other internal departments.

Question 19

Define the marketing concept.

Accepted Answer

The marketing concept is the i

Question 20

Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores. Who is the ultimate consumer for this magazine?

Accepted Answer

A) the person who buys the magazine to read at home 
B) the person who stocks the magazine rack at Walmart 
C) the person who browses the magazine in the store but does not buy it 
D) the salesperson for Time Inc. who sold the magazine to Walmart 
E) All people, from the writer, to the seller, to the reader at home, are the ultimate consumers. 
A) the person who buys the magazine to read at home 
B) the person who stocks the magazine rack at Walmart 
C) the person who browses the magazine in the store but does not buy it 
D) the salesperson for Time Inc. who sold the magazine to Walmart 
E) All people, from the writer, to the seller, to the reader at home, are the ultimate consumers.

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following statements about marketing is most accurate?

The Terrafugia Transition is a 19-foot, two-seater, road-drivable, light-sport aircraft with an anticipated price of $279,000. The most likely prospective customers for this flying car would include

A target market refers to

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

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and before- and after-sale service at a specific price is called

Ultimate consumers are

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

In response to a growing interest in healthful, nutritious, organic products, Chobani created

A want refers to

The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Today, the standards of marketing practice have shifted from the interests of producers to the interests of

The pricing strategy for 3M's Post-it Flag Highlighters was to

Chobani used all of the following tactics to promote its Greek yogurt except

A product

An organization's marketing department relates to

Define the marketing concept.

Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores. Who is the ultimate consumer for this magazine?

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

Financial Aspects of Marketing

Building an Effective Marketing Plan

Filters