Question 1

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Accepted Answer

A) place 
B) possession 
C) market 
D) time 
E) form 
A) place 
B) possession 
C) market 
D) time 
E) form

Question 2

All of the following constitute the "4 Ps" of the marketing mix EXCEPT:

Accepted Answer

A) promotion. 
B) profitability. 
C) price. 
D) place. 
E) product. 
A) promotion. 
B) profitability. 
C) price. 
D) place. 
E) product.

Question 3

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. A potential showstopper for this product is likely to be

Accepted Answer

A) concern that damage caused in a small on-road fender bender might make it dangerous to fly. 
B) a lack of marketing towards retired seniors. 
C) the efficiency of commuting for corporate executives. 
D) the availability of flight instruction for licensed drivers. 
E) a very poor product warranty. 
A) concern that damage caused in a small on-road fender bender might make it dangerous to fly. 
B) a lack of marketing towards retired seniors. 
C) the efficiency of commuting for corporate executives. 
D) the availability of flight instruction for licensed drivers. 
E) a very poor product warranty.

Question 4

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

Accepted Answer

A) sponsor U.S. Olympic and Paralympic teams. 
B) price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share. 
C) use Facebook, YouTube, and other social media to promote Chobani yogurt. 
D) rely on word-of-mouth to reach new customers. 
E) air a Super Bowl commercial featuring a "yogurt bear". 
A) sponsor U.S. Olympic and Paralympic teams. 
B) price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share. 
C) use Facebook, YouTube, and other social media to promote Chobani yogurt. 
D) rely on word-of-mouth to reach new customers. 
E) air a Super Bowl commercial featuring a "yogurt bear".

Question 5

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.

Question 6

A target market refers to

Accepted Answer

A) people who could purchase a product regardless of who ultimately uses it. 
B) one or more specific groups of potential consumers toward which an organization directs its marketing program. 
C) former customers who now use 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) people who could purchase a product regardless of who ultimately uses it. 
B) one or more specific groups of potential consumers toward which an organization directs its marketing program. 
C) former customers who now use 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 7

The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Accepted Answer

A) the activity for creating, communicating, delivering, and exchanging offerings solely for the benefit of the organization's stockholders. 
B) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. 
C) the activity for creating, communicating, delivering, and exchanging solely for the benefit of the organization's employees. 
D) the activity for selling a product or service at the highest possible price. 
E) the activities of advertising, promoting, and selling products to the greatest number of profitable customers. 
A) the activity for creating, communicating, delivering, and exchanging offerings solely for the benefit of the organization's stockholders. 
B) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. 
C) the activity for creating, communicating, delivering, and exchanging solely for the benefit of the organization's employees. 
D) the activity for selling a product or service at the highest possible price. 
E) the activities of advertising, promoting, and selling products to the greatest number of profitable customers.

Question 8

Why do some marketers feel that environmental forces are NOT entirely outside their influence?

Accepted Answer

Traditionally, many marketing executives

Question 9

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Accepted Answer

To serve both buyers and sellers, market

Question 10

__________ of all new businesses fail within five years of their launch.

Accepted Answer

A) Only 5 percent 
B) Only 10 percent 
C) Only 25 percent 
D) About 40 percent 
E) Over 50 percent 
A) Only 5 percent 
B) Only 10 percent 
C) Only 25 percent 
D) About 40 percent 
E) Over 50 percent

Question 11

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 12

List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Accepted Answer

The five environmental forces mainly bey

Question 13

Publix Supermarkets and The Little Clinic signed an exclusive agreement, placing small walk-in health clinics inside selected stores. Publix customers can have simple medical needs addressed in a convenient and familiar environment seven days a week and pick up their prescriptions from the pharmacy without leaving the store. This is an example of

Accepted Answer

A) supplier management. 
B) customer valuation. 
C) societal marketing. 
D) market aggregation. 
E) relationship marketing. 
A) supplier management. 
B) customer valuation. 
C) societal marketing. 
D) market aggregation. 
E) relationship marketing.

Question 14

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Accepted Answer

A) a product. 
B) the price. 
C) promotion. 
D) the place. 
E) the process. 
A) a product. 
B) the price. 
C) promotion. 
D) the place. 
E) the process.

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

Which of the following statements best distinguishes between consumer needs and wants?

Accepted Answer

A) Needs are far more influential than wants with respect to marketing decision making. 
B) Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases. 
C) Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person's knowledge, culture, or personality. 
D) Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy. 
E) Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality. 
A) Needs are far more influential than wants with respect to marketing decision making. 
B) Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases. 
C) Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person's knowledge, culture, or personality. 
D) Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy. 
E) Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.

Question 17

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 18

The Hermitage, a famous Russian art museum, was suffering financial difficulties as the result of lost funding and a decline in tourists. The decrease in visitors was blamed on a lack of awareness of the treasures contained in the museum. The Hermitage's director used a strategic alliance with IBM to create a website where people view some of the wonders of the Hermitage in an online virtual tour. The hope is that this sampling of paintings, sculptures, artifacts, etc. will encourage visitors to make a trip to the Hermitage and spend enough money there to cover operational costs. The Hermitage is a(n) __________ that uses online virtual tours to market itself worldwide.

Accepted Answer

A) good 
B) idea 
C) service 
D) assembly 
E) charity 
A) good 
B) idea 
C) service 
D) assembly 
E) charity

Question 19

All of the following current or prospective distribution channels for Chobani Greek Yogurt EXCEPT:

Accepted Answer

A) convenience stores. 
B) drug stores. 
C) mass merchandisers. 
D) supermarkets. 
E) vending machines. 
A) convenience stores. 
B) drug stores. 
C) mass merchandisers. 
D) supermarkets. 
E) vending machines.

Question 20

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 works closely with other departments and employees to implement marketing activities. 
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, after all is said and done, 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 works closely with other departments and employees to implement marketing activities. 
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, after all is said and done, is essentially developing the right product and convincing potential customers that they "need" it, not just "want it."

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

All of the following constitute the "4 Ps" of the marketing mix EXCEPT:

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. A potential showstopper for this product is likely to be

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

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

A target market refers to

The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Why do some marketers feel that environmental forces are NOT entirely outside their influence?

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

__________ of all new businesses fail within five years of their launch.

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

List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Which of the following organizations engage in marketing?

Which of the following statements best distinguishes between consumer needs and wants?

Which of the following is NOT an environmental force?

All of the following current or prospective distribution channels for Chobani Greek Yogurt EXCEPT:

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

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Exam 1: Creating Customer Relationships and Value Through Marketing

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

All of the following constitute the "4 Ps" of the marketing mix EXCEPT:

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. A potential showstopper for this product is likely to be

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

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

A target market refers to

The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Why do some marketers feel that environmental forces are NOT entirely outside their influence?

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

__________ of all new businesses fail within five years of their launch.

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

List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Which of the following organizations engage in marketing?

Which of the following statements best distinguishes between consumer needs and wants?

Which of the following is NOT an environmental force?

All of the following current or prospective distribution channels for Chobani Greek Yogurt EXCEPT:

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

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters