Question 1

Which of the following statements about stakeholders is most accurate?

Accepted Answer

A)  Ultimately, the only relevant stakeholder is the ultimate consumer. 
B)  The organization, suppliers, shareholders, employees, and consumers are all stakeholders of an organization and all should benefit from the organization's marketing activities. 
C)  Employees can be stakeholders only if they own shares in their company. 
D)  Suppliers are the most important stakeholders because without them, products could never be produced. 
E)  The only way to be a stakeholder is to have a financial investment in an organization's product, service, or idea. 
A)  Ultimately, the only relevant stakeholder is the ultimate consumer. 
B)  The organization, suppliers, shareholders, employees, and consumers are all stakeholders of an organization and all should benefit from the organization's marketing activities. 
C)  Employees can be stakeholders only if they own shares in their company. 
D)  Suppliers are the most important stakeholders because without them, products could never be produced. 
E)  The only way to be a stakeholder is to have a financial investment in an organization's product, service, or idea.

Question 2

four Ps are commonly known as

Accepted Answer

A)  the environmental or uncontrollable forces. 
B)  the environmental or controllable factors. 
C)  the marketing mix or controllable factors. 
D)  the marketing mix or uncontrollable forces. 
E)  predict, produce, package, and persuade. 
A)  the environmental or uncontrollable forces. 
B)  the environmental or controllable factors. 
C)  the marketing mix or controllable factors. 
D)  the marketing mix or uncontrollable forces. 
E)  predict, produce, package, and persuade.

Question 3

people who use the products and services purchased for a household are called

Accepted Answer

A)  organizational buyers. 
B)  household prospects. 
C)  ultimate consumers. 
D)  a target market. 
E)  sellers. 
A)  organizational buyers. 
B)  household prospects. 
C)  ultimate consumers. 
D)  a target market. 
E)  sellers.

Question 4

marketing program refers to

Accepted Answer

A)  a plan that integrates the marketing mix to provide a product, service, or idea to prospective buyers. 
B)  the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line. 
C)  the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem. 
D)  the specific ratio within a marketing budget that divides resources between advertising, promotions, and personal selling. 
E)  the allocation of resources within a firm towards individual marketing mix elements. 
A)  a plan that integrates the marketing mix to provide a product, service, or idea to prospective buyers. 
B)  the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line. 
C)  the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem. 
D)  the specific ratio within a marketing budget that divides resources between advertising, promotions, and personal selling. 
E)  the allocation of resources within a firm towards individual marketing mix elements.

Question 5

market orientation refers to

Accepted Answer

A)  the orientation of an organization that focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value. 
B)  the orientation of an 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. 
C)  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. 
D)  the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term for fear of losing 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: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value. 
B)  the orientation of an 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. 
C)  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. 
D)  the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term for fear of losing 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 6

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.

Accepted Answer

The shampoo is the product element.The I

Question 7

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 8

live theatre performance tends to be an experience that is consumed at the point where it is purchased.This is an example of a(n)__________.

Accepted Answer

A)  utility 
B)  product 
C)  value 
D)  service 
E)  idea 
A)  utility 
B)  product 
C)  value 
D)  service 
E)  idea

Question 9

Newspaper readership has significantly declined in recent years.Not only are traditional newspapers losing subscribers,they are also losing advertisers.To combat these trends,many newspaper publishers now offer online versions of their printed newspapers.This is MOST LIKELY an example of

Accepted Answer

A)  a reaction to a growing economy. 
B)  a trend that will soon reverse itself because most consumers want a printed newspaper to read during breakfast, on the bus to work, etc. 
C)  a technological environmental force that restricts the marketing opportunities of newspaper publishers. 
D)  a social environmental force as a result of changing consumer preferences for information delivered online. 
E)  a response to an increase in government regulation. 
A)  a reaction to a growing economy. 
B)  a trend that will soon reverse itself because most consumers want a printed newspaper to read during breakfast, on the bus to work, etc. 
C)  a technological environmental force that restricts the marketing opportunities of newspaper publishers. 
D)  a social environmental force as a result of changing consumer preferences for information delivered online. 
E)  a response to an increase in government regulation.

Question 10

organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

Accepted Answer

A)  society at large 
B)  government 
C)  suppliers 
D)  resellers 
E)  producers 
A)  society at large 
B)  government 
C)  suppliers 
D)  resellers 
E)  producers

Question 11

your own personal experience and creativity to what you have just learned in Chapter 1.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

Accepted Answer

A quality answer will include multiple t

Question 12

American Red Cross created a series of advertisements to encourage people to donate blood.After viewing an ad,Amanda went to the local Red Cross office and donated a pint of her blood.Amanda returned home feeling happy that she had performed a good deed.Was this an exchange in a marketing sense?

Accepted Answer

A)  Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity. 
B)  Yes, because the donated blood was exchanged for a feeling of satisfaction. 
C)  No, because the Red Cross is nonprofit organization. 
D)  No, because no money changed hands. 
E)  No, because the Red Cross, a service organization, did not provide Amanda with a product. 
A)  Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity. 
B)  Yes, because the donated blood was exchanged for a feeling of satisfaction. 
C)  No, because the Red Cross is nonprofit organization. 
D)  No, because no money changed hands. 
E)  No, because the Red Cross, a service organization, did not provide Amanda with a product.

Question 13

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 is called

Accepted Answer

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

Question 14

China,many people are removing their money from the state banks and lending it out themselves.The interest rate earned in a state bank account is about one-half the rate of inflation.On the other hand,loaning money to friends,relatives,and even unrelated entrepreneurs can often earn the investor a rate at least double the inflation rate.The gray market,an underground network of investors and private businesses,moves the cash from lenders to businesses.Did marketing occur here? Explain your answer.

Accepted Answer

To answer this question,students will ne

Question 15

Arizona Biltmore in Phoenix is next to the Biltmore Fashion Park,a large shopping mall located less than a mile away.The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states.Which of the following would MOST LIKELY help The Arizona Biltmore communicate with potential convention attendees?

Accepted Answer

A)  Place an ad in the in-flight magazines of all the major airlines targeting business/first class flyers. 
B)  Send a mass mailing to all the local businesses. 
C)  Set up information kiosks at several locations within the Biltmore Fashion Park. 
D)  Offer free made-to-order breakfasts for guests staying at the hotel on business. 
E)  Offer special discount rates to guests coming from the East Coast. 
A)  Place an ad in the in-flight magazines of all the major airlines targeting business/first class flyers. 
B)  Send a mass mailing to all the local businesses. 
C)  Set up information kiosks at several locations within the Biltmore Fashion Park. 
D)  Offer free made-to-order breakfasts for guests staying at the hotel on business. 
E)  Offer special discount rates to guests coming from the East Coast.

Question 16

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

Accepted Answer

A)  The marketing department should work with people solely within its own department. 
B)  The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces. 
C)  The marketing department is responsible for only the 4Ps. 
D)  The marketing department is responsible for market research, supervision of product development, and product promotion. 
E)  The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper. 
A)  The marketing department should work with people solely within its own department. 
B)  The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces. 
C)  The marketing department is responsible for only the 4Ps. 
D)  The marketing department is responsible for market research, supervision of product development, and product promotion. 
E)  The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.

Question 17

Figure 1-5
-Figure 1-5 above,letter "B" represents which era in U.S.business history?

Accepted Answer

A)  sales era 
B)  production era 
C)  age of consumerism 
D)  marketing concept era 
E)  customer relationship era 
A)  sales era 
B)  production era 
C)  age of consumerism 
D)  marketing concept era 
E)  customer relationship era

Question 18

of the following are departments in a typical organization EXCEPT:

Accepted Answer

A)  finance. 
B)  manufacturing. 
C)  information systems. 
D)  human resources. 
E)  suppliers. 
A)  finance. 
B)  manufacturing. 
C)  information systems. 
D)  human resources. 
E)  suppliers.

Question 19

Customer experience refers to

Accepted Answer

A)  the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time. 
B)  the links an organization has to its customers for their mutual long-term benefits. 
C)  the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace. 
D)  the internal response that customers have to all aspects of an organization and its offerings. 
E)  the activities in which a firm will participate in order to create a positive buying experience for the customer. 
A)  the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time. 
B)  the links an organization has to its customers for their mutual long-term benefits. 
C)  the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace. 
D)  the internal response that customers have to all aspects of an organization and its offerings. 
E)  the activities in which a firm will participate in order to create a positive buying experience for the customer.

Question 20

the nonprofit world of the performing arts,box office technology has essentially remained the same since the 1980s.A company called Tessitura is trying to change that.Tessitura is able to track every transaction with its patrons in one database.This information collected includes ticket purchases,fund-raising,volunteering,and gift shop purchases that will help symphonies,operas,and theaters develop customer profiles in order to tailor their sales messages to specific individuals.In other words,Tessitura is going to allow arts groups to engage in

Accepted Answer

A)  market aggregation. 
B)  relationship marketing. 
C)  societal marketing. 
D)  market mining. 
E)  mainstream marketing. 
A)  market aggregation. 
B)  relationship marketing. 
C)  societal marketing. 
D)  market mining. 
E)  mainstream marketing.

Which of the following statements about stakeholders is most accurate?

four Ps are commonly known as

people who use the products and services purchased for a household are called

marketing program refers to

market orientation refers to

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

live theatre performance tends to be an experience that is consumed at the point where it is purchased.This is an example of a(n)__________.

Newspaper readership has significantly declined in recent years.Not only are traditional newspapers losing subscribers,they are also losing advertisers.To combat these trends,many newspaper publishers now offer online versions of their printed newspapers.This is MOST LIKELY an example of

organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

your own personal experience and creativity to what you have just learned in Chapter 1.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

American Red Cross created a series of advertisements to encourage people to donate blood.After viewing an ad,Amanda went to the local Red Cross office and donated a pint of her blood.Amanda returned home feeling happy that she had performed a good deed.Was this an exchange in a marketing sense?

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 is called

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

Figure 1-5 -Figure 1-5 above,letter "B" represents which era in U.S.business history?

of the following are departments in a typical organization EXCEPT:

Customer experience refers to

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

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following statements about stakeholders is most accurate?

four Ps are commonly known as

people who use the products and services purchased for a household are called

marketing program refers to

market orientation refers to

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

live theatre performance tends to be an experience that is consumed at the point where it is purchased.This is an example of a(n)__________.

Newspaper readership has significantly declined in recent years.Not only are traditional newspapers losing subscribers,they are also losing advertisers.To combat these trends,many newspaper publishers now offer online versions of their printed newspapers.This is MOST LIKELY an example of

organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

your own personal experience and creativity to what you have just learned in Chapter 1.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

American Red Cross created a series of advertisements to encourage people to donate blood.After viewing an ad,Amanda went to the local Red Cross office and donated a pint of her blood.Amanda returned home feeling happy that she had performed a good deed.Was this an exchange in a marketing sense?

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 is called

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

Figure 1-5 -Figure 1-5 above,letter "B" represents which era in U.S.business history?

of the following are departments in a typical organization EXCEPT:

Customer experience refers to

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