Question 1

two central concerns of marketing are __________.

Accepted Answer

A)  increasing market share and making profits 
B)  holding down costs while increasing profits 
C)  developing products and finding suppliers 
D)  discovering and satisfying consumer needs 
E)  practicing ethics and sustainability 
A)  increasing market share and making profits 
B)  holding down costs while increasing profits 
C)  developing products and finding suppliers 
D)  discovering and satisfying consumer needs 
E)  practicing ethics and sustainability

Question 2

study of the aggregate flow of a nation's goods and services to benefit society is referred to as __________.

Accepted Answer

A)  micromarketing 
B)  macromarketing 
C)  societal marketing 
D)  megamarketing 
E)  balance of trade 
A)  micromarketing 
B)  macromarketing 
C)  societal marketing 
D)  megamarketing 
E)  balance of trade

Question 3

four utilities marketing creates are

Accepted Answer

A)  product, price, promotion, and place. 
B)  form, function, value, and people. 
C)  monopoly, monopolistic competition, pure competition, and oligopoly. 
D)  form, place, time, and possession. 
E)  natural gas, fossil fuel, electricity, and water. 
A)  product, price, promotion, and place. 
B)  form, function, value, and people. 
C)  monopoly, monopolistic competition, pure competition, and oligopoly. 
D)  form, place, time, and possession. 
E)  natural gas, fossil fuel, electricity, and water.

Question 4

Starbucks Ad
-you ever talk to anyone who has flown on Singapore Air,you will no doubt hear about the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.From this description,you can surmise that 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 5

of the following are examples of products or services that satisfy a consumer need EXCEPT:

Accepted Answer

A)  a pair of jeans. 
B)  an apple. 
C)  a student dormitory. 
D)  a sports car. 
E)  a jacket. 
A)  a pair of jeans. 
B)  an apple. 
C)  a student dormitory. 
D)  a sports car. 
E)  a jacket.

Question 6

Which of the following is NOT an environmental force?

Accepted Answer

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

Question 7

Which era of U.S.business history does the following statement best describe? "We are in the business of satisfying the needs and wants of consumers while achieving our own goals."

Accepted Answer

A)  the production era 
B)  the sales era 
C)  the marketing concept era 
D)  the marketing orientation era 
E)  the societal marketing era 
A)  the production era 
B)  the sales era 
C)  the marketing concept era 
D)  the marketing orientation era 
E)  the societal marketing era

Question 8

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.

Accepted Answer

Answers should address all four "Ps." (1

Question 9

of the following were pre-launch issues 3M encountered before it could offer the Post-it® Flag Highlighter EXCEPT:

Accepted Answer

A)  manufacturing issues-where will the product be produced? 
B)  place issues-how will 3M persuade office supply retailers and college bookstores to carry the items? 
C)  promotion issues-how will 3M tell students the offering exists? 
D)  price issues-what should 3M charge for this innovation and should there be differences between different retail outlets (college bookstores, mass merchandisers, office supply stores, etc.)? 
E)  market segmentation issues-who is(are) the target market(s) for this offering? 
A)  manufacturing issues-where will the product be produced? 
B)  place issues-how will 3M persuade office supply retailers and college bookstores to carry the items? 
C)  promotion issues-how will 3M tell students the offering exists? 
D)  price issues-what should 3M charge for this innovation and should there be differences between different retail outlets (college bookstores, mass merchandisers, office supply stores, etc.)? 
E)  market segmentation issues-who is(are) the target market(s) for this offering?

Question 10

American business period that strives to satisfy consumer needs while achieving an organization's goals is called the __________ era.

Accepted Answer

A)  marketing concept 
B)  sales 
C)  production 
D)  societal marketing concept 
E)  customer relationship 
A)  marketing concept 
B)  sales 
C)  production 
D)  societal marketing concept 
E)  customer relationship

Question 11

need refers to

Accepted Answer

A)  a sense of personal inadequacy based upon observations by others around you. 
B)  a sense of urgency, which causes a person to take action. 
C)  a feeling 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 sense of urgency, which causes a person to take action. 
C)  a feeling 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

__________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

Accepted Answer

A)  marketing strategy 
B)  marketing program 
C)  macromarketing program 
D)  micromarketing program 
E)  customer relationship management 
A)  marketing strategy 
B)  marketing program 
C)  macromarketing program 
D)  micromarketing program 
E)  customer relationship management

Question 13

Which of the following statements about 3M's marketing program for Post-it® Flag Highlighters is most accurate?

Accepted Answer

A)  In his first attempt, Windorski, a 3M inventor, designed the Post-it® Flag Highlighter in exactly the right way to appeal to its target market. 
B)  3M designed the packaging for the Post-it® Flag Highlighter based on its designer's suggestions. 
C)  Windorski, a 3M inventor, also developed the Post-it® Flag Pen for the smaller office worker segment. 
D)  The Post-it® Flag Highlighter was not successful and was deleted from the Post-it® Flag product line. 
E)  Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor. 
A)  In his first attempt, Windorski, a 3M inventor, designed the Post-it® Flag Highlighter in exactly the right way to appeal to its target market. 
B)  3M designed the packaging for the Post-it® Flag Highlighter based on its designer's suggestions. 
C)  Windorski, a 3M inventor, also developed the Post-it® Flag Pen for the smaller office worker segment. 
D)  The Post-it® Flag Highlighter was not successful and was deleted from the Post-it® Flag product line. 
E)  Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor.

Question 14

organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments; and (3)using it to create customer value is said to have a

Accepted Answer

A)  societal marketing concept. 
B)  focus on macromarketing. 
C)  nonprofit orientation. 
D)  market orientation. 
E)  profit maximization orientation. 
A)  societal marketing concept. 
B)  focus on macromarketing. 
C)  nonprofit orientation. 
D)  market orientation. 
E)  profit maximization orientation.

Question 15

are you,as a student,already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Accepted Answer

Students are,in a sense,marketing expert

Question 16

Marketing refers to

Accepted Answer

A)  the production of products or services that will generate the highest return on investment. 
B)  the strategies used in the advertising and promotion of products and services. 
C)  the process of identifying target market segments for a product or service. 
D)  the activity involved in actually getting a product or service to ultimate consumers and organizational buyers. 
E)  the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. 
A)  the production of products or services that will generate the highest return on investment. 
B)  the strategies used in the advertising and promotion of products and services. 
C)  the process of identifying target market segments for a product or service. 
D)  the activity involved in actually getting a product or service to ultimate consumers and organizational buyers. 
E)  the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

Question 17

Which of the following would a marketer use as a synonym for controllable marketing mix factors?

Accepted Answer

A)  the four Ps of marketing 
B)  environmental forces 
C)  macromarketing forces 
D)  marketing management factors 
E)  micromarketing factors 
A)  the four Ps of marketing 
B)  environmental forces 
C)  macromarketing forces 
D)  marketing management factors 
E)  micromarketing factors

Question 18

Starbucks Ad
-According to the Starbucks ad above,what customer value strategy does Starbucks Coffee Company provide to its customers?

Accepted Answer

A)  best product/service 
B)  best customer service 
C)  best value 
D)  best assortment 
E)  best price 
A)  best product/service 
B)  best customer service 
C)  best value 
D)  best assortment 
E)  best price

Question 19

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

Accepted Answer

A)  product 
B)  price 
C)  promotion 
D)  place 
E)  process 
A)  product 
B)  price 
C)  promotion 
D)  place 
E)  process

Question 20

customer value proposition is

Accepted Answer

A)  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. 
B)  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. 
C)  a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation. 
D)  the characteristics of a product that make it superior to competitive substitutes. 
E)  the cluster of benefits that an organization promises customers to satisfy their needs. 
A)  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. 
B)  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. 
C)  a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation. 
D)  the characteristics of a product that make it superior to competitive substitutes. 
E)  the cluster of benefits that an organization promises customers to satisfy their needs.

Exam 1: Creating Customer Relationships and Value Through Marketing

two central concerns of marketing are __________.

study of the aggregate flow of a nation's goods and services to benefit society is referred to as __________.

four utilities marketing creates are

of the following are examples of products or services that satisfy a consumer need EXCEPT:

Which of the following is NOT an environmental force?

Which era of U.S.business history does the following statement best describe? "We are in the business of satisfying the needs and wants of consumers while achieving our own goals."

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.

of the following were pre-launch issues 3M encountered before it could offer the Post-it® Flag Highlighter EXCEPT:

American business period that strives to satisfy consumer needs while achieving an organization's goals is called the __________ era.

need refers to

__________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

Which of the following statements about 3M's marketing program for Post-it® Flag Highlighters is most accurate?

organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments; and (3)using it to create customer value is said to have a

are you,as a student,already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Marketing refers to

Which of the following would a marketer use as a synonym for controllable marketing mix factors?

Starbucks Ad -According to the Starbucks ad above,what customer value strategy does Starbucks Coffee Company provide to its customers?

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

customer value proposition is

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

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.

of the following were pre-launch issues 3M encountered before it could offer the Post-it^®Flag Highlighter EXCEPT:

Which of the following statements about 3M's marketing program for Post-it^® Flag Highlighters is most accurate?