Exam 1: Creating Customer Relationships and Value Through Marketing

Explain the marketing program that 3M used to reach the student target market for the Post-it Flag Highlighter and the rationale used for each element of the marketing mix.

All markets ultimately are composed of

Utility refers to

TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following groups of people would be the most likely target market for TUMI briefcases?

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

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Suppose you want a snack after taking this exam. Dominos is located across the street from your College of Business classroom. Unfortunately, you forgot your wallet in the haste of getting to class on time to take the test. Therefore, you have no means to pay for the pizza. Which of the following reasons explain why marketing fails to occur here between you and Dominos?

Social responsibility is

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to

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

Many companies subscribe to being "green" because they feel that consumers value this. Yet, in many of these same firms, office computers are left on 24 hours a day and office paper is not recycled. This example indicates it is not always easy for firms to act in accordance with the

The element of the marketing mix that describes a good, service, or idea to satisfy consumers' needs is known as

Satisfying consumer needs is accomplished by

The four Ps of the marketing mix are

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

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

Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth. You plan to sell your product on an Internet website, which you will advertise on late-night television. You are also hoping to obtain free publicity to place stories in men's fashion magazines. You are planning to sell online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling. Using the information provided, identify each element of your marketing mix.

The marketing mix refers to

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?