Question 1

A 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.

Question 2

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

Accepted Answer

A) ultimate consumers 
B) situational buyers 
C) primary buyers 
D) a target market 
E) household prospects 
A) ultimate consumers 
B) situational buyers 
C) primary buyers 
D) a target market 
E) household prospects

Question 3

Which of the following statements is an example of place utility?

Accepted Answer

A) airlines that allow you to print your own boarding pass at home 
B) a service station that adds a diesel fuel pump to its three unleaded gasoline pumps 
C) a mobile phone company that offers six-month financing,same as cash 
D) cold cut packages that can be zipped close for reuse 
E) an iPhone with a "multitouch" user interface for easy navigation 
A) airlines that allow you to print your own boarding pass at home 
B) a service station that adds a diesel fuel pump to its three unleaded gasoline pumps 
C) a mobile phone company that offers six-month financing,same as cash 
D) cold cut packages that can be zipped close for reuse 
E) an iPhone with a "multitouch" user interface for easy navigation

Question 4

The 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 5

Local newspaper readership has declined significantly 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 a response to which environmental force?

Accepted Answer

A) economic,since few can afford a newspaper today 
B) competitive,resulting from new,smaller local newspapers that are flourishing 
C) technological,since high-speed printing presses have become more easy to use 
D) social,resulting from changing consumer preferences for information delivered online 
E) regulatory,since the government provides tax incentives for paper-based products 
A) economic,since few can afford a newspaper today 
B) competitive,resulting from new,smaller local newspapers that are flourishing 
C) technological,since high-speed printing presses have become more easy to use 
D) social,resulting from changing consumer preferences for information delivered online 
E) regulatory,since the government provides tax incentives for paper-based products

Question 6

The societal marketing concept

Accepted Answer

A) is the moral principles and values that govern the actions and decisions of an organization. 
B) is the idea that organizations are part of a larger society and are accountable to that society for their actions. 
C) actively tries to understand customer needs and satisfying them while satisfying the firm's goals. 
D) involves conducting business in a way that protects the natural environment while making economic progress. 
E) is the view that an organization should satisfy the needs of consumers in a way that provides for society's well being. 
A) is the moral principles and values that govern the actions and decisions of an organization. 
B) is the idea that organizations are part of a larger society and are accountable to that society for their actions. 
C) actively tries to understand customer needs and satisfying them while satisfying the firm's goals. 
D) involves conducting business in a way that protects the natural environment while making economic progress. 
E) is the view that an organization should satisfy the needs of consumers in a way that provides for society's well being.

Question 7

Apple iPhone 5S
-The Apple iPhone 5S (shown above)is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone 5S provides value for its customers?

Accepted Answer

Customer value is the unique combination

Question 8

A product

Accepted Answer

A) consists of the benefits or customer value received by its sellers. 
B) is the cluster of benefits that an organization promises customers to satisfy their needs. 
C) is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value. 
D) consists of items that the consumer purchases frequently,conveniently,and with a minimum of shopping effort. 
E) is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
A) consists of the benefits or customer value received by its sellers. 
B) is the cluster of benefits that an organization promises customers to satisfy their needs. 
C) is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value. 
D) consists of items that the consumer purchases frequently,conveniently,and with a minimum of shopping effort. 
E) is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.

Question 9

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

Accepted Answer

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

Question 10

The five major environmental forces in a marketing decision are

Accepted Answer

A) climate change,natural resources,pollution,natural disasters,and global conflict (war). 
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 (war). 
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 11

Which of the following statements describes an environmental force?

Accepted Answer

A) Several states have legislation that requires people transporting children to use age- and height-appropriate car seats. 
B) Tupperware has more than 200,000 independent dealers who market its entire product line. 
C) A car battery comes with a lifetime guarantee. 
D) An automobile dealer offers a $500 rebate during the month of July. 
E) A major bottler offers a 10-cent refund on returnable bottles. 
A) Several states have legislation that requires people transporting children to use age- and height-appropriate car seats. 
B) Tupperware has more than 200,000 independent dealers who market its entire product line. 
C) A car battery comes with a lifetime guarantee. 
D) An automobile dealer offers a $500 rebate during the month of July. 
E) A major bottler offers a 10-cent refund on returnable bottles.

Question 12

In marketing,thoughts about concepts,actions,or causes are referred to as

Accepted Answer

A) utilities. 
B) experiences. 
C) values. 
D) ideas. 
E) services. 
A) utilities. 
B) experiences. 
C) values. 
D) ideas. 
E) services.

Question 13

A college student is taking a full course load,working 20 hours per week,and still has to take out a student loan to cover tuition.One day,he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000)and feels he just has to have one for himself.What factor is MOST LIKELY to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?

Accepted Answer

A) The local Lexus dealer only has one Lexus LFA sports coupe in stock-red,which is the color he wants. 
B) The student does not have the resources to qualify for a $375,000 auto loan. 
C) Although the Lexus LFA sports coupe is a great car,there may be other cars with better gas mileage and resale value. 
D) He's afraid that if someone at school sees him with the car,he might lose his student loan. 
E) His girlfriend wants him to drive a Kia Soul. 
A) The local Lexus dealer only has one Lexus LFA sports coupe in stock-red,which is the color he wants. 
B) The student does not have the resources to qualify for a $375,000 auto loan. 
C) Although the Lexus LFA sports coupe is a great car,there may be other cars with better gas mileage and resale value. 
D) He's afraid that if someone at school sees him with the car,he might lose his student loan. 
E) His girlfriend wants him to drive a Kia Soul.

Question 14

In Figure 1-2 above,the center ring "E" in an organization consists of __________,which oversees the departments surrounding it.

Accepted Answer

A) marketing. 
B) manufacturing. 
C) human resources. 
D) senior management. 
E) finance. 
A) marketing. 
B) manufacturing. 
C) human resources. 
D) senior management. 
E) finance.

Question 15

Which of the following is an example of form utility?

Accepted Answer

A) an iPhone with a "multitouch" user interface for easy navigation 
B) stamp vending machines that are located in drug stores 
C) a service station that has a 24-hour ice machine available for use when the station is closed 
D) a mobile phone company that offers six-month financing,same as cash 
E) a gourmet candy store that offers a home delivery service 
A) an iPhone with a "multitouch" user interface for easy navigation 
B) stamp vending machines that are located in drug stores 
C) a service station that has a 24-hour ice machine available for use when the station is closed 
D) a mobile phone company that offers six-month financing,same as cash 
E) a gourmet candy store that offers a home delivery service

Question 16

The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

Accepted Answer

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

Question 17

With respect to the history of American business,the __________ era immediately followed the sales era.

Accepted Answer

A) production 
B) promotion 
C) customer relationship 
D) market orientation 
E) marketing concept 
A) production 
B) promotion 
C) customer relationship 
D) market orientation 
E) marketing concept

Question 18

The difference between "Greek" yogurt and "American" yogurt is that the latter

Accepted Answer

A) has a thick texture. 
B) is too thin. 
C) is not sweet enough for health-conscience palettes. 
D) is only sold in health or natural food stores. 
E) has high protein content. 
A) has a thick texture. 
B) is too thin. 
C) is not sweet enough for health-conscience palettes. 
D) is only sold in health or natural food stores. 
E) has high protein content.

Question 19

Which of the following conditions are necessary for marketing to occur?

Accepted Answer

A) two or more people,a method of assessing needs,a way to communicate,and an exchange 
B) two or more people,a product,a reasonable price,and a place to make an exchange 
C) a quality product,a fair price,a clever method of promotion,and a place where a customer can buy the product 
D) two or more parties with unsatisfied needs,a desire and an ability to satisfy them,a way to communicate,and something to exchange 
E) an ability to see a hidden trend within an environmental force,a product,and an affordable and actionable advertising campaign 
A) two or more people,a method of assessing needs,a way to communicate,and an exchange 
B) two or more people,a product,a reasonable price,and a place to make an exchange 
C) a quality product,a fair price,a clever method of promotion,and a place where a customer can buy the product 
D) two or more parties with unsatisfied needs,a desire and an ability to satisfy them,a way to communicate,and something to exchange 
E) an ability to see a hidden trend within an environmental force,a product,and an affordable and actionable advertising campaign

Question 20

A __________ is a need that is shaped by a person's knowledge,culture,and personality.

Accepted Answer

A) desire 
B) feeling 
C) utility 
D) want 
E) craving 
A) desire 
B) feeling 
C) utility 
D) want 
E) craving

Exam 1: Creating Customer Relationships and Value Through Marketing

A customer value proposition is

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

Which of the following statements is an example of place utility?

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

The societal marketing concept

Apple iPhone 5S -The Apple iPhone 5S (shown above)is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone 5S provides value for its customers?

A product

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

The five major environmental forces in a marketing decision are

Which of the following statements describes an environmental force?

In marketing,thoughts about concepts,actions,or causes are referred to as

In Figure 1-2 above,the center ring "E" in an organization consists of __________,which oversees the departments surrounding it.

Which of the following is an example of form utility?

The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

With respect to the history of American business,the __________ era immediately followed the sales era.

The difference between "Greek" yogurt and "American" yogurt is that the latter

Which of the following conditions are necessary for marketing to occur?

A __________ is a need that is shaped by a person's knowledge,culture,and personality.

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

Filters