Question 1

________ is the only part of the business that generates revenue.

Accepted Answer

A) Finance 
B) Manufacturing 
C) Customer service 
D) Marketing 
E) Accounting 
A) Finance 
B) Manufacturing 
C) Customer service 
D) Marketing 
E) Accounting

Question 2

Needs relate to either physical or psychological functions.How does Levi Strauss satisfy both of these needs with their jeans?

Accepted Answer

Levi Strauss & Co.jeans meet physical ne

Question 3

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Accepted Answer

A) True 
 B)False

Question 4

For an exchange to take place,each party must have something the other party wants.

Accepted Answer

A) True 
 B)False

Question 5

Apply the three levels of the product to a product of your choice.

Accepted Answer

The three levels of the product are the

Question 6

The terms market and marketplace are used as synonyms.

Accepted Answer

A) True 
 B)False

Question 7

An ad for 'Acne b Gone' states that most acne will be visibly reduced within two weeks of using the cream.How does this ad illustrate the marketing concept?

Accepted Answer

Companies practicing the marketing conce

Question 8

Explain how 'exchange relationships' occur in marketing.Use the example of illegal online film or music downloading to illustrate.

Accepted Answer

An exchange occurs when something is obt

Question 9

A businessperson who only produces a product when it is ordered is referred to as a/n ________.

Accepted Answer

A) turn-key operator 
B) intrapreneur 
C) total quality manager 
D) interpreneur 
E) All of the above 
A) turn-key operator 
B) intrapreneur 
C) total quality manager 
D) interpreneur 
E) All of the above

Question 10

Three university students were renting for the first time and needed white goods,but none of them had the money to purchase a refrigerator or washing machine.

Accepted Answer

A) place and creation 
B) time and place 
C) creation and possession 
D) possession and time 
E) form and place 
A) place and creation 
B) time and place 
C) creation and possession 
D) possession and time 
E) form and place

Question 11

A consumer has a ________ when there is a difference between their actual state and their ideal or desired state.

Accepted Answer

A) need 
B) want 
C) demand 
D) value 
E) benefit 
A) need 
B) want 
C) demand 
D) value 
E) benefit

Question 12

One of the more important parts of marketing is to ________.

Accepted Answer

A) change prices every month based upon the rise or fall of the stock market 
B) understand why consumers' demand of a product is not something that is important 
C) meet the needs of diverse stakeholders 
D) teach people ways to spend their money 
E) help keep people employed 
A) change prices every month based upon the rise or fall of the stock market 
B) understand why consumers' demand of a product is not something that is important 
C) meet the needs of diverse stakeholders 
D) teach people ways to spend their money 
E) help keep people employed

Question 13

A market segment is a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.Automakers such as Ford and Holden offer different automobiles for different market segments.Select one car made by Ford and one car made by Holden.What customer segment would each car benefit and why?

Accepted Answer

Student answers will vary depending on t

Question 14

________ refer(s)to the tangible and ________ benefits a customer receives from buying a product or service.

Accepted Answer

A) Utility; monetary 
B) Exchange; intangible 
C) Needs; consumer 
D) Value; intangible 
E) Consumer orientation; intangible 
A) Utility; monetary 
B) Exchange; intangible 
C) Needs; consumer 
D) Value; intangible 
E) Consumer orientation; intangible

Question 15

Marketers may have backgrounds in which of the following?

Accepted Answer

A) Computer science 
B) English 
C) Merchandise or design 
D) Law 
E) All of the above 
A) Computer science 
B) English 
C) Merchandise or design 
D) Law 
E) All of the above

Question 16

A company decides that it will only offer two colours of its product; each with the same three features because this will reduce their costs.The company makes these decisions with no input from consumers.Discuss the orientation the company is following and when such an orientation would be most successful.

Accepted Answer

In this case the company is following a

Question 17

Which of the following is an example of an exchange?

Accepted Answer

A) Hamish uses his credit card to pay for his weekly groceries. 
B) Isabella lets Mercedes copy her class notes and Mercedes,in return,buys lunch for Isabella. 
C) Judi buys a plane ticket through an airline's website. 
D) Kendra purchased petrol with her credit card. 
E) All of the above 
A) Hamish uses his credit card to pay for his weekly groceries. 
B) Isabella lets Mercedes copy her class notes and Mercedes,in return,buys lunch for Isabella. 
C) Judi buys a plane ticket through an airline's website. 
D) Kendra purchased petrol with her credit card. 
E) All of the above

Question 18

A ________ is a series of activities involved in designing,producing,marketing,delivering and supporting any product.

Accepted Answer

A) marketing mix 
B) value chain 
C) manufacturing process 
D) want 
E) utility 
A) marketing mix 
B) value chain 
C) manufacturing process 
D) want 
E) utility

Question 19

A beer company ran a series of ads featuring scantily clad women playing volleyball.Many consumers felt that the beer campaign demeaned women in order to appeal to men.Discuss the objections to the campaign from a societal perspective.

Accepted Answer

Marketing transactions add or subtract v

Question 20

Which of these statements about mass marketing is true?

Accepted Answer

A) Movie production and distribution companies typically use mass marketing strategies. 
B) A mass marketing strategy is always preferable to a target marketing strategy. 
C) Mass marketing allows marketers to develop products to satisfy the specific needs and wants of specific groups of customers. 
D) The success of any organisation's marketing efforts depends only on its ability to engage in mass marketing. 
E) Mass marketing can be cost-effective. 
A) Movie production and distribution companies typically use mass marketing strategies. 
B) A mass marketing strategy is always preferable to a target marketing strategy. 
C) Mass marketing allows marketers to develop products to satisfy the specific needs and wants of specific groups of customers. 
D) The success of any organisation's marketing efforts depends only on its ability to engage in mass marketing. 
E) Mass marketing can be cost-effective.

________ is the only part of the business that generates revenue.

Needs relate to either physical or psychological functions.How does Levi Strauss satisfy both of these needs with their jeans?

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

For an exchange to take place,each party must have something the other party wants.

Apply the three levels of the product to a product of your choice.

The terms market and marketplace are used as synonyms.

An ad for 'Acne b Gone' states that most acne will be visibly reduced within two weeks of using the cream.How does this ad illustrate the marketing concept?

Explain how 'exchange relationships' occur in marketing.Use the example of illegal online film or music downloading to illustrate.

A businessperson who only produces a product when it is ordered is referred to as a/n ________.

Three university students were renting for the first time and needed white goods,but none of them had the money to purchase a refrigerator or washing machine.

A consumer has a ________ when there is a difference between their actual state and their ideal or desired state.

One of the more important parts of marketing is to ________.

refer(s)to the tangible and benefits a customer receives from buying a product or service.

Marketers may have backgrounds in which of the following?

Which of the following is an example of an exchange?

A ________ is a series of activities involved in designing,producing,marketing,delivering and supporting any product.

A beer company ran a series of ads featuring scantily clad women playing volleyball.Many consumers felt that the beer campaign demeaned women in order to appeal to men.Discuss the objections to the campaign from a societal perspective.

Which of these statements about mass marketing is true?

Strategic Market Planning: Taking the Big Picture

Thriving in the Marketing Environment: The World Is Flat

Marketing Research: Gathering,analysing and Using Information

Consumer Behaviour: How and Why We Buy

Business-To-Business Markets: How and Why Organisations Buy

Sharpening the Focus: Target Marketing Strategies and Customer Relationship Management

Creating and Managing Products

Services and Other Intangibles: Marketing a Product That Isnt There

Pricing the Product

One-To-Many: Advertising,consumer Sales Promotion and Public Relations

One-To-One: Trade Promotion,data-Driven Marketing and Personal Selling

Many-To-Many: Online Marketing Communication and New Media

Delivering Value Through Supply Chains and Logistics

Filters

Exam 1: Welcome to the World of Marketing: Creating and Delivering Value

________ is the only part of the business that generates revenue.

Needs relate to either physical or psychological functions.How does Levi Strauss satisfy both of these needs with their jeans?

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

For an exchange to take place,each party must have something the other party wants.

Apply the three levels of the product to a product of your choice.

The terms market and marketplace are used as synonyms.

An ad for 'Acne b Gone' states that most acne will be visibly reduced within two weeks of using the cream.How does this ad illustrate the marketing concept?

Explain how 'exchange relationships' occur in marketing.Use the example of illegal online film or music downloading to illustrate.

A businessperson who only produces a product when it is ordered is referred to as a/n ________.

Three university students were renting for the first time and needed white goods,but none of them had the money to purchase a refrigerator or washing machine.

A consumer has a ________ when there is a difference between their actual state and their ideal or desired state.

One of the more important parts of marketing is to ________.

________ refer(s)to the tangible and ________ benefits a customer receives from buying a product or service.

Marketers may have backgrounds in which of the following?

Which of the following is an example of an exchange?

A ________ is a series of activities involved in designing,producing,marketing,delivering and supporting any product.

A beer company ran a series of ads featuring scantily clad women playing volleyball.Many consumers felt that the beer campaign demeaned women in order to appeal to men.Discuss the objections to the campaign from a societal perspective.

Which of these statements about mass marketing is true?

Strategic Market Planning: Taking the Big Picture

Thriving in the Marketing Environment: The World Is Flat

Marketing Research: Gathering,analysing and Using Information

Consumer Behaviour: How and Why We Buy

Business-To-Business Markets: How and Why Organisations Buy

Sharpening the Focus: Target Marketing Strategies and Customer Relationship Management

Creating and Managing Products

Services and Other Intangibles: Marketing a Product That Isnt There

Pricing the Product

One-To-Many: Advertising,consumer Sales Promotion and Public Relations

One-To-One: Trade Promotion,data-Driven Marketing and Personal Selling

Many-To-Many: Online Marketing Communication and New Media

Delivering Value Through Supply Chains and Logistics

Filters

refer(s)to the tangible and benefits a customer receives from buying a product or service.