Question 1

Section Break Figure 1-2  
-In Figure 1-2,"A" represents __________ and "B" represents __________.

Accepted Answer

A)  decisions by management; purchases by customers 
B)  employees efforts; stakeholder rewards 
C)  sales department; manufacturing department 
D)  suppliers; distributors 
E)  discovering consumer needs; satisfying consumer needs 
A)  decisions by management; purchases by customers 
B)  employees efforts; stakeholder rewards 
C)  sales department; manufacturing department 
D)  suppliers; distributors 
E)  discovering consumer needs; satisfying consumer needs

Question 2

A market orientation refers to

Accepted Answer

A)  the orientation of an organization that focuses its efforts on continuously collecting information about the environment, keeping abreast of the actions of its competitors, and using this information to create product innovation. 
B)  the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change. 
C)  the orientation of an organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value. 
D)  the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus. 
E)  the point of view that holds that there is always someone who needs or can benefit from your product, and if one segment fails, there is an even better one somewhere in the "market." 
A)  the orientation of an organization that focuses its efforts on continuously collecting information about the environment, keeping abreast of the actions of its competitors, and using this information to create product innovation. 
B)  the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change. 
C)  the orientation of an organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value. 
D)  the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus. 
E)  the point of view that holds that there is always someone who needs or can benefit from your product, and if one segment fails, there is an even better one somewhere in the "market."

Question 3

The four Ps of the marketing mix are

Accepted Answer

A)  priorities, personnel, placement, and profits. 
B)  predict, produce, price, and promotion. 
C)  product, price, production, and place. 
D)  product, price, promotion, and place. 
E)  predict, produce, package, and persuade. 
A)  priorities, personnel, placement, and profits. 
B)  predict, produce, price, and promotion. 
C)  product, price, production, and place. 
D)  product, price, promotion, and place. 
E)  predict, produce, package, and persuade.

Question 4

John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store.This is an example of which?

Accepted Answer

A)  demonstrating an unmet need 
B)  discovering a consumer need 
C)  the foundation of brand loyalty 
D)  a way for parties to communicate 
E)  practicing ethics and sustainability 
A)  demonstrating an unmet need 
B)  discovering a consumer need 
C)  the foundation of brand loyalty 
D)  a way for parties to communicate 
E)  practicing ethics and sustainability

Question 5

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 6

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?

Accepted Answer

A)  There is only one party with unsatisfied needs. 
B)  The ability to satisfy a need is missing. 
C)  A desire to satisfy a need is missing. 
D)  No assessments of consumer wants and needs have been made. 
E)  There is no way for the parties involved to communicate. 
A)  There is only one party with unsatisfied needs. 
B)  The ability to satisfy a need is missing. 
C)  A desire to satisfy a need is missing. 
D)  No assessments of consumer wants and needs have been made. 
E)  There is no way for the parties involved to communicate.

Question 7

An organization's stockholders,its suppliers,its employees,its customers,and society at large all share what in common with regard to an organization?

Accepted Answer

A)  All are stakeholders and should benefit from the marketing of an organization's offering. 
B)  Everyone has a say in the ultimate design of a product. 
C)  Everyone is legally culpable if something goes wrong with a product. 
D)  All have to make some type of direct financial investment in the organization so it can profitably sell its products. 
E)  All use the products and/or services marketed by the organization. 
A)  All are stakeholders and should benefit from the marketing of an organization's offering. 
B)  Everyone has a say in the ultimate design of a product. 
C)  Everyone is legally culpable if something goes wrong with a product. 
D)  All have to make some type of direct financial investment in the organization so it can profitably sell its products. 
E)  All use the products and/or services marketed by the organization.

Question 8

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 9

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

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 U.S. Olympic and Paralympic 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 U.S. Olympic and Paralympic Teams. 
D)  used social networks Facebook, Twitter, Pinterest, and Instagram. 
E)  relied on word of mouth in its early years.

Question 10

The marketing mix refers to

Accepted Answer

A)  the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line. 
B)  the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling. 
C)  the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem. 
D)  the allocation of resources within a firm toward individual marketing programs. 
E)  the environmental forces-social, economic, technological, competitive, and regulatory-that impact the marketing decisions for a particular product at any given time. 
A)  the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line. 
B)  the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling. 
C)  the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem. 
D)  the allocation of resources within a firm toward individual marketing programs. 
E)  the environmental forces-social, economic, technological, competitive, and regulatory-that impact the marketing decisions for a particular product at any given time.

Question 11

Customer value refers to

Accepted Answer

A)  the need of a customer to receive the highest quality product at the lowest possible price. 
B)  the least expensive product that will provide most of the basic benefits. 
C)  a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers. 
D)  the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. 
E)  the cluster of benefits that an organization promises customers to satisfy their needs. 
A)  the need of a customer to receive the highest quality product at the lowest possible price. 
B)  the least expensive product that will provide most of the basic benefits. 
C)  a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers. 
D)  the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. 
E)  the cluster of benefits that an organization promises customers to satisfy their needs.

Question 12

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 13

The five major environmental forces in a marketing decision are

Accepted Answer

A)  climate change, natural resources, pollution, natural disasters, and global conflict. 
B)  social, technological, economic, competitive, and regulatory. 
C)  corporate ownership, internal management, supplier partnerships, strategic alliances, and customer relationships. 
D)  product, price, promotion, place, and people. 
E)  ethics, sustainability, cultural awareness, diversity, and values. 
A)  climate change, natural resources, pollution, natural disasters, and global conflict. 
B)  social, technological, economic, competitive, and regulatory. 
C)  corporate ownership, internal management, supplier partnerships, strategic alliances, and customer relationships. 
D)  product, price, promotion, place, and people. 
E)  ethics, sustainability, cultural awareness, diversity, and values.

Question 14

Which of the following is not an environmental force?

Accepted Answer

A)  technological 
B)  regulatory 
C)  ecological 
D)  competitive 
E)  economic 
A)  technological 
B)  regulatory 
C)  ecological 
D)  competitive 
E)  economic

Question 15

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 16

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

Accepted Answer

A)  Relationship marketing has a short-term focus: increasing profits for the firm. 
B)  Relationship marketing prevents the need to offer unique value to customers. 
C)  Relationship marketing provides benefits for both customers and the organization. 
D)  Very few companies today are engaged in relationship marketing. 
E)  The Internet almost always has a negative impact on a firm's personal relationships with customers. 
A)  Relationship marketing has a short-term focus: increasing profits for the firm. 
B)  Relationship marketing prevents the need to offer unique value to customers. 
C)  Relationship marketing provides benefits for both customers and the organization. 
D)  Very few companies today are engaged in relationship marketing. 
E)  The Internet almost always has a negative impact on a firm's personal relationships with customers.

Question 17

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

Accepted Answer

A)  Marketing is affected by society but rarely, if ever, affects society as a whole. 
B)  The marketing department both shapes and is shaped by its relationship with internal and external groups. 
C)  Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall). 
D)  Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. 
E)  Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it. 
A)  Marketing is affected by society but rarely, if ever, affects society as a whole. 
B)  The marketing department both shapes and is shaped by its relationship with internal and external groups. 
C)  Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall). 
D)  Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. 
E)  Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.

Question 18

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves.Customers appreciate this superior product (they don't rust or scratch)and like the fact that their purchase is environmentally responsible,making this an example of

Accepted Answer

A)  the societal marketing concept. 
B)  the marketing concept. 
C)  consumerism. 
D)  target markets. 
E)  capitalism. 
A)  the societal marketing concept. 
B)  the marketing concept. 
C)  consumerism. 
D)  target markets. 
E)  capitalism.

Question 19

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

Accepted Answer

A)  a product. 
B)  the price. 
C)  promotion. 
D)  the place or distribution. 
E)  a market segment. 
A)  a product. 
B)  the price. 
C)  promotion. 
D)  the place or distribution. 
E)  a market segment.

Question 20

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a meaningful

Accepted Answer

A)  marketing strategy. 
B)  macromarketing agenda. 
C)  micromarketing agenda. 
D)  marketing program. 
E)  marketing concept. 
A)  marketing strategy. 
B)  macromarketing agenda. 
C)  micromarketing agenda. 
D)  marketing program. 
E)  marketing concept.

Section Break Figure 1-2 -In Figure 1-2,"A" represents and "B" represents .

A market orientation refers to

The four Ps of the marketing mix are

John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store.This is an example of which?

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

An organization's stockholders,its suppliers,its employees,its customers,and society at large all share what in common with regard to an organization?

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.

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

The marketing mix refers to

Customer value refers to

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

The five major environmental forces in a marketing decision are

Which of the following is not an environmental force?

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 statements about relationship marketing is most accurate?

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

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves.Customers appreciate this superior product (they don't rust or scratch)and like the fact that their purchase is environmentally responsible,making this an example of

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

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a meaningful

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

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

Pricing Products and Services

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

Building an Effective Marketing Plan

Filters

Exam 1: Creating Customer Relationships and Value Through Marketing

Section Break Figure 1-2 -In Figure 1-2,"A" represents __________ and "B" represents __________.

A market orientation refers to

The four Ps of the marketing mix are

John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store.This is an example of which?

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

An organization's stockholders,its suppliers,its employees,its customers,and society at large all share what in common with regard to an organization?

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.

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

The marketing mix refers to

Customer value refers to

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

The five major environmental forces in a marketing decision are

Which of the following is not an environmental force?

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 statements about relationship marketing is most accurate?

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

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves.Customers appreciate this superior product (they don't rust or scratch)and like the fact that their purchase is environmentally responsible,making this an example of

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

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a meaningful

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

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

Pricing Products and Services

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

Building an Effective Marketing Plan

Filters

Section Break Figure 1-2 -In Figure 1-2,"A" represents and "B" represents .