Deck 1: Creating Customer Relationships and Value Through Marketing
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Deck 1: Creating Customer Relationships and Value Through Marketing
1
What do an organization's stockholders, its suppliers, its employees, its customers, and society at large all share what have in common with regard to an organization?
A) All should benefit from the marketing of an organization's offering.
B) Everyone has a say in the ultimate design of a product.
C) Everyone is legally culpable if something goes wrong with a product.
D) All have to make some type of direct financial investment in the organization so it can profitably sell its products.
E) All use the products and/or services marketed by the organization.
A) All should benefit from the marketing of an organization's offering.
B) Everyone has a say in the ultimate design of a product.
C) Everyone is legally culpable if something goes wrong with a product.
D) All have to make some type of direct financial investment in the organization so it can profitably sell its products.
E) All use the products and/or services marketed by the organization.
A
2
Mizuno designs and sells high-quality baseball gloves. Who likely benefits from the firm's marketing activities for its gloves?
A) a baseball or softball player who purchases a new Mizuno glove
B) the Dick's Sporting Goods salesperson who sells a customer a Mizuno glove
C) the supplier who provided the leather to Mizuno
D) the shareholders of Mizuno, the company that designs and manufactures the gloves
E) All stakeholders, even society at large
A) a baseball or softball player who purchases a new Mizuno glove
B) the Dick's Sporting Goods salesperson who sells a customer a Mizuno glove
C) the supplier who provided the leather to Mizuno
D) the shareholders of Mizuno, the company that designs and manufactures the gloves
E) All stakeholders, even society at large
E
3
Which of the following marketing mix strategies has Chobani used to sell its yogurt?
A) priced the Chobani yogurt line below Dannon's to increase market share
B) sponsored U.S. Olympic and Paralympic teams
C) offered sweeter products to increase sales over competitor Yoplait
D) introduced a new line of flavored coffee creamers
E) stopped airing television ads in order to promote an active lifestyle
A) priced the Chobani yogurt line below Dannon's to increase market share
B) sponsored U.S. Olympic and Paralympic teams
C) offered sweeter products to increase sales over competitor Yoplait
D) introduced a new line of flavored coffee creamers
E) stopped airing television ads in order to promote an active lifestyle
B
4
The PAL-V Liberty is a two-seat, gas-powered gyrocopter with a flying range of about 250 miles at maximum weight. In car mode, the three-wheeled vehicle can hit 100 mph. Its maker is seeking safety certification in Europe, and 90 initial production models are now for sale starting at $399,000. The most likely prospective customers for this flying car would include
A) students who attend college at least 500 miles away from home.
B) retired seniors receiving Social Security.
C) executives for whom time is extremely important.
D) teens who like to try new things.
E) families in need of a second vehicle.
A) students who attend college at least 500 miles away from home.
B) retired seniors receiving Social Security.
C) executives for whom time is extremely important.
D) teens who like to try new things.
E) families in need of a second vehicle.
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5
Marketing refers to the
A) research and development of new products that existing customers want to purchase.
B) expansion of companies into other countries.
C) process of identifying the best local plants to serve particular geographic markets.
D) activity involved in getting a product or service from the manufacturer to the ultimate consumers and organizational buyers.
E) activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
A) research and development of new products that existing customers want to purchase.
B) expansion of companies into other countries.
C) process of identifying the best local plants to serve particular geographic markets.
D) activity involved in getting a product or service from the manufacturer to the ultimate consumers and organizational buyers.
E) activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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6
Which statement about marketing is most accurate?
A) Unless you take a marketing class, you will never truly know anything about marketing.
B) Marketing is nothing more than common sense.
C) Marketing requires an innate sense of creativity; you either have it or you don't.
D) You can call yourself a marketing expert only if you have sold something for a profit.
E) You have significant marketing expertise since you make marketing-related decisions every day.
A) Unless you take a marketing class, you will never truly know anything about marketing.
B) Marketing is nothing more than common sense.
C) Marketing requires an innate sense of creativity; you either have it or you don't.
D) You can call yourself a marketing expert only if you have sold something for a profit.
E) You have significant marketing expertise since you make marketing-related decisions every day.
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7
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as
A) manufacturing.
B) advertising.
C) marketing.
D) selling.
E) promotion.
A) manufacturing.
B) advertising.
C) marketing.
D) selling.
E) promotion.
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8
The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda Cho decided to donate a pint of blood. After she did, Amanda Cho felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?
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 a nonprofit organization.
D) No, because no money changed hands.
E) No, because the Red Cross, a service organization, did not provide Amanda Cho 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 a nonprofit organization.
D) No, because no money changed hands.
E) No, because the Red Cross, a service organization, did not provide Amanda Cho with a product.
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9
The trade of things of value between buyer and seller so that each is better off after the trade is referred to as
A) financial remuneration.
B) exchange.
C) countertrade.
D) barter.
E) marketing.
A) financial remuneration.
B) exchange.
C) countertrade.
D) barter.
E) marketing.
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10
A local college of business offers an outstanding graduate business school education program. Maria pays the tuition to attend and earns her MBA with a concentration in marketing management. Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange?
A) No, because the university earned a profit from Maria's tuition.
B) No, because money was exchanged in the form of tuition and Maria's income will come from her employer, not the graduate school.
C) No, because the school did not provide Maria with a tangible product, only the potential of an education.
D) Yes, because the university promised Maria she would graduate on time, and she did.
E) Yes, because paying tuition was exchanged for knowledge that directly led to Maria's high-paying, fulfilling new job.
A) No, because the university earned a profit from Maria's tuition.
B) No, because money was exchanged in the form of tuition and Maria's income will come from her employer, not the graduate school.
C) No, because the school did not provide Maria with a tangible product, only the potential of an education.
D) Yes, because the university promised Maria she would graduate on time, and she did.
E) Yes, because paying tuition was exchanged for knowledge that directly led to Maria's high-paying, fulfilling new job.
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11
From its inception, where did Chobani want to place its yogurt?
A) in organic foods section of major grocery store chains
B) in warehouse club stores like Sam's Club or Costco
C) in the dairy case of major grocery store chains
D) in mass merchandise stores like Target
E) in independent organic cooperatives, farmer's markets, and major organic grocery stores like Whole Foods or Sprouts
A) in organic foods section of major grocery store chains
B) in warehouse club stores like Sam's Club or Costco
C) in the dairy case of major grocery store chains
D) in mass merchandise stores like Target
E) in independent organic cooperatives, farmer's markets, and major organic grocery stores like Whole Foods or Sprouts
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12
To serve both buyers and sellers, marketing seeks to discover and ________ the needs and wants of prospective customers.
A) change
B) satisfy
C) circumvent
D) align
E) preserve
A) change
B) satisfy
C) circumvent
D) align
E) preserve
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13
To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.
A) change
B) circumvent
C) deny
D) discover
E) measure
A) change
B) circumvent
C) deny
D) discover
E) measure
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14
________ responsible for establishing the organization's mission and objectives.
A) Marketers are
B) Suppliers are
C) Customers are
D) Senior management is
E) Shareholders are
A) Marketers are
B) Suppliers are
C) Customers are
D) Senior management is
E) Shareholders are
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15
Whether an individual is considering a purchase for personal or household use, or an organization is buying for its own use or for resale, the individual or organization would be considered
A) a prospective customer.
B) a dual-purpose marketing decision maker.
C) a potential distributor.
D) an informed buyer.
E) an end user.
A) a prospective customer.
B) a dual-purpose marketing decision maker.
C) a potential distributor.
D) an informed buyer.
E) an end user.
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16
All of the following are true about marketing except which?
A) Marketing is a broader activity than advertising.
B) Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers.
C) Successful marketing usually results in one "winner" and one or more "losers."
D) When an organization engages in marketing, it should also create value for its partners and society.
E) Marketing is a broader activity than personal selling.
A) Marketing is a broader activity than advertising.
B) Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers.
C) Successful marketing usually results in one "winner" and one or more "losers."
D) When an organization engages in marketing, it should also create value for its partners and society.
E) Marketing is a broader activity than personal selling.
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17
In marketing, the idea of exchange refers to the
A) negotiation phase between the manufacturer and the seller.
B) financial remuneration (monetary payment) for a product or service.
C) trade of things of value between buyer and seller so that each is better off after the trade.
D) bartering of products and services between nongovernmental organizations or individuals.
E) practice of swapping products and services for other products and services rather than for money.
A) negotiation phase between the manufacturer and the seller.
B) financial remuneration (monetary payment) for a product or service.
C) trade of things of value between buyer and seller so that each is better off after the trade.
D) bartering of products and services between nongovernmental organizations or individuals.
E) practice of swapping products and services for other products and services rather than for money.
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18
Elon Musk was involved in the inception of all of the following companies except which?
A) SpaceX
B) PayPal
C) Tesla
D) Facebook
E) Neuralink
A) SpaceX
B) PayPal
C) Tesla
D) Facebook
E) Neuralink
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19
A student wants to buy a smartphone so she can share pictures with her friends. An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures, write a report, etc.). If they both purchase the same model smartphone, such as an Apple iPhone, which statement is most accurate?
A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment.
B) Both the adjuster and the student are prospective customers because, in their own way, they both benefit from the smartphone.
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers.
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use.
E) Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones.
A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment.
B) Both the adjuster and the student are prospective customers because, in their own way, they both benefit from the smartphone.
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers.
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use.
E) Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones.
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20
A typical marketing department both shapes and ________ its relationship with internal and external groups.
A) is shaped by
B) organizes
C) directs
D) determines
E) dominates
A) is shaped by
B) organizes
C) directs
D) determines
E) dominates
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21
All of the following are departments within a typical organization except which?
A) finance
B) manufacturing
C) information systems
D) human resources
E) shareholders
A) finance
B) manufacturing
C) information systems
D) human resources
E) shareholders
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22
Which statement about marketing departments is most accurate?
A) The marketing department typically works as an independent unit, mostly interacting with other parts of the business only to direct product promotion.
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 only responsible for two of the four Ps.
D) The marketing department is only responsible for market research, supervision of product development, and product promotion.
E) The marketing department must work closely with other departments and employees to help provide products that satisfy customers.
A) The marketing department typically works as an independent unit, mostly interacting with other parts of the business only to direct product promotion.
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 only responsible for two of the four Ps.
D) The marketing department is only responsible for market research, supervision of product development, and product promotion.
E) The marketing department must work closely with other departments and employees to help provide products that satisfy customers.
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23
A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because
A) marketing doesn't apply to the voting process.
B) the desire and ability to satisfy needs is missing.
C) there is no direct way for the parties to communicate.
D) something to exchange is missing.
E) there is only one party involved in this situation.
A) marketing doesn't apply to the voting process.
B) the desire and ability to satisfy needs is missing.
C) there is no direct way for the parties to communicate.
D) something to exchange is missing.
E) there is only one party involved in this situation.
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24
Lou has a medical condition that interferes with restful sleep. Though he has been to the doctor frequently about the issue, no treatments or medications are available that would be helpful to him. Here, no marketing occurs because
A) the doctor does not have unsatisfied needs.
B) the doctor cannot offer a viable product for exchange.
C) marketing is illegal in the pharmaceutical industry.
D) the doctor and patient are unable to communicate.
E) Lou is unable to afford his medications.
A) the doctor does not have unsatisfied needs.
B) the doctor cannot offer a viable product for exchange.
C) marketing is illegal in the pharmaceutical industry.
D) the doctor and patient are unable to communicate.
E) Lou is unable to afford his medications.
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25
A business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school. He knows that any money he spends on a tutor will be worthwhile if he can improve his scores. He's heard that there is a great tutor in his local community but has no idea who she is. Marketing does not occur in this situation because
A) two or more parties have satisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) both parties are not aware that a need for tutoring exists.
D) there is no way for each party to communicate with one another.
E) there has been no assessment of consumer wants and needs.
A) two or more parties have satisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) both parties are not aware that a need for tutoring exists.
D) there is no way for each party to communicate with one another.
E) there has been no assessment of consumer wants and needs.
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26
All of the following are environmental forces that affect an organization except which?
A) economic
B) managerial
C) social
D) regulatory
E) technological
A) economic
B) managerial
C) social
D) regulatory
E) technological
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27
Suppose you want a snack after taking this exam. Domino's is located across the street from your College of Business classroom. Unfortunately, you forgot your wallet in the haste of getting to class on time to take the test. Therefore, you have no means to pay for the pizza. What explains why marketing fails to occur between you and Domino's?
A) There is only one party with unsatisfied needs.
B) The ability to satisfy a need is missing.
C) A desire to satisfy a need is missing.
D) No assessments of consumer wants and needs have been made.
E) There is no way for the parties involved to communicate.
A) There is only one party with unsatisfied needs.
B) The ability to satisfy a need is missing.
C) A desire to satisfy a need is missing.
D) No assessments of consumer wants and needs have been made.
E) There is no way for the parties involved to communicate.
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28
Which statement about marketing activities is most accurate?
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 directs the activities of all other departments in a business.
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 directs the activities of all other departments in a business.
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29
For marketing to occur, there must be two or more parties involved. Dr. Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks. The most likely "second" party needed for marketing to occur would be
A) people who are nostalgic about childhood lemonade stands they had during hot summers.
B) people with a desire for a cool beverage other than soda or water.
C) product demonstrators who offer samples of Country Time lemonade to shoppers at local supermarkets.
D) a local distributor of alcoholic beverages.
E) a nutritionist promoting the health benefits of adequate hydration.
A) people who are nostalgic about childhood lemonade stands they had during hot summers.
B) people with a desire for a cool beverage other than soda or water.
C) product demonstrators who offer samples of Country Time lemonade to shoppers at local supermarkets.
D) a local distributor of alcoholic beverages.
E) a nutritionist promoting the health benefits of adequate hydration.
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30
One challenge faced by organizations is the need to focus on consumer needs while also ________ the interests of countless other people, groups, and forces that interact to shape the nature of its actions.
A) resisting
B) balancing
C) developing
D) guaranteeing
E) minimizing
A) resisting
B) balancing
C) developing
D) guaranteeing
E) minimizing
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31
All of the following are factors required for marketing to occur except which?
A) a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied
B) something to exchange between two or more parties (individuals or organizations)
C) two or more parties (individuals or organizations) with the same wants
D) two or more parties (individuals or organizations) with unsatisfied needs
E) a way for the parties (individuals or organizations) to communicate
A) a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied
B) something to exchange between two or more parties (individuals or organizations)
C) two or more parties (individuals or organizations) with the same wants
D) two or more parties (individuals or organizations) with unsatisfied needs
E) a way for the parties (individuals or organizations) to communicate
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32
Which factor is required for marketing to occur?
A) a healthy competitive environment
B) an affordable and actionable advertising campaign
C) a sense of social responsibility
D) an ability to see hidden potential within an environmental force
E) something to exchange
A) a healthy competitive environment
B) an affordable and actionable advertising campaign
C) a sense of social responsibility
D) an ability to see hidden potential within an environmental force
E) something to exchange
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33
Which of the following is not an environmental force?
A) economic
B) regulatory
C) social
D) commercial
E) technological
A) economic
B) regulatory
C) social
D) commercial
E) technological
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34
Which statement about marketing activities is most accurate?
A) Marketing is affected by society but rarely, if ever, affects society as a whole.
B) The marketing department both shapes and is shaped by its relationship with internal and external groups.
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 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 both shapes and is shaped by its relationship with internal and external groups.
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 is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.
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35
A student would like to buy a crossover SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation because
A) two or more parties have unsatisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) one of the involved parties does not have the ability to satisfy its needs.
D) there is no way for each party to communicate with one another.
E) there has been no assessment of consumer wants and needs.
A) two or more parties have unsatisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) one of the involved parties does not have the ability to satisfy its needs.
D) there is no way for each party to communicate with one another.
E) there has been no assessment of consumer wants and needs.
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36
Which conditions are necessary for marketing to occur?
A) a changing environment, a method of assessing needs, a way to communicate, and an exchange location
B) parties with cash or credit, 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 trend within an environmental force, a product, and an affordable and actionable advertising campaign
A) a changing environment, a method of assessing needs, a way to communicate, and an exchange location
B) parties with cash or credit, 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 trend within an environmental force, a product, and an affordable and actionable advertising campaign
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37
The Arizona Biltmore in Phoenix is a resort hotel located less than a mile from the Biltmore Fashion Park, a large upscale shopping mall. 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 marketing action would most likely help the Arizona Biltmore communicate with potential convention attendees?
A) Place an ad in the in-flight magazines of all the major airlines targeting business/first-class fliers.
B) Send a mass mailing to all 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 fliers.
B) Send a mass mailing to all 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.
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38
The ________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
A) purchasing
B) marketing
C) human resources
D) accounting
E) information systems
A) purchasing
B) marketing
C) human resources
D) accounting
E) information systems
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39
The marketing department of an organization is responsible for facilitating
A) relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
B) healthy competition with other product manufacturers.
C) financial contracts with banks and other lending institutions.
D) alliances with firms with noncompetitive products that target similar markets.
E) the coordination between the various departments within the entire firm.
A) relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
B) healthy competition with other product manufacturers.
C) financial contracts with banks and other lending institutions.
D) alliances with firms with noncompetitive products that target similar markets.
E) the coordination between the various departments within the entire firm.
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40
A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and he doesn't have Internet access. Which reason explains why marketing fails to occur here?
A) There are no parties with unsatisfied needs.
B) A desire to satisfy a need is missing.
C) No assessments of consumer wants and needs have been made.
D) There is no way for the parties involved to communicate.
E) The ability to satisfy a need is missing.
A) There are no parties with unsatisfied needs.
B) A desire to satisfy a need is missing.
C) No assessments of consumer wants and needs have been made.
D) There is no way for the parties involved to communicate.
E) The ability to satisfy a need is missing.
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41
To avoid new-product failure, new-product expert Robert M. McMath suggests
A) implementing a regional rather than a nationwide rollout of a new product.
B) building a hierarchical organizational structure so that more people have a chance to spot product problems.
C) focusing on customer benefits and learning from the past.
D) increasing the marketing budget, since "success comes to those who can outspend the competition."
E) releasing several different versions of a new product at the same time to see which one is most successful.
A) implementing a regional rather than a nationwide rollout of a new product.
B) building a hierarchical organizational structure so that more people have a chance to spot product problems.
C) focusing on customer benefits and learning from the past.
D) increasing the marketing budget, since "success comes to those who can outspend the competition."
E) releasing several different versions of a new product at the same time to see which one is most successful.
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42
A want refers to a
A) sense of personal inadequacy based upon observations by others around you.
B) powerful desire that causes a person to take action.
C) need that is shaped by a person's knowledge, culture, or personality.
D) feeling of being deprived of something, but not fully understanding what it may be.
E) feeling of deprivation of basic necessities such as food, clothing, and shelter.
A) sense of personal inadequacy based upon observations by others around you.
B) powerful desire that causes a person to take action.
C) need that is shaped by a person's knowledge, culture, or personality.
D) feeling of being deprived of something, but not fully understanding what it may be.
E) feeling of deprivation of basic necessities such as food, clothing, and shelter.
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43
Studies of new product launches indicate that about __________ percent of the products fail.
A) 33
B) 40
C) 67
D) 75
E) 90
A) 33
B) 40
C) 67
D) 75
E) 90
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44
A need refers to a
A) sense of personal inadequacy based upon observations by others around you.
B) sense of urgency, which causes a person to take action.
C) feeling that is shaped by a person's knowledge, culture, or personality.
D) feeling of vague lacking, but not fully understanding what may be required.
E) feeling of deprivation of basic necessities such as food, clothing, and shelter.
A) sense of personal inadequacy based upon observations by others around you.
B) sense of urgency, which causes a person to take action.
C) feeling that is shaped by a person's knowledge, culture, or personality.
D) feeling of vague lacking, but not fully understanding what may be required.
E) feeling of deprivation of basic necessities such as food, clothing, and shelter.
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45
Randall receives a coupon on his iPhone advising him about the location of a Taco Bell store. This is an example of which requirement for marketing to occur?
A) demonstrating an unmet need
B) discovering a consumer need
C) a foundation for brand loyalty
D) a way for parties to communicate
E) practicing ethics and sustainability
A) demonstrating an unmet need
B) discovering a consumer need
C) a foundation for brand loyalty
D) a way for parties to communicate
E) practicing ethics and sustainability
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46
Marketers often discover consumer needs by
A) implementing a marketing program.
B) conducting effective marketing research.
C) balancing the marketing mix elements-the four Ps of the marketing program.
D) advertising to diverse groups of prospective buyers.
E) copying the products and services of competitors.
A) implementing a marketing program.
B) conducting effective marketing research.
C) balancing the marketing mix elements-the four Ps of the marketing program.
D) advertising to diverse groups of prospective buyers.
E) copying the products and services of competitors.
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47
A television advertisement shows several teenagers searching through the pantry for something to satisfy their hunger. The pantry offers the teenagers many alternatives-cereal, chips, cookies, and some Cool Mint Chocolate Clif Bars. The ad, which shows the teens happily selecting the Clif Bars, appeals to the consumers' ________ for sustenance to satisfy their hunger and attempts to shape their ________ for the advertised product.
A) needs; wants
B) requirements; needs
C) wants; preferences
D) demands; needs
E) preferences; enthusiasm
A) needs; wants
B) requirements; needs
C) wants; preferences
D) demands; needs
E) preferences; enthusiasm
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48
Concerns about privacy might have been a reason for lackluster sales of which of these products?
A) Amazon Prime
B) Google Glass
C) Apple Newton MessagePad
D) YoYo car subscriptions
E) AirBnB rentals
A) Amazon Prime
B) Google Glass
C) Apple Newton MessagePad
D) YoYo car subscriptions
E) AirBnB rentals
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49
A need that has been shaped by a person's knowledge, culture, and personality results in a
A) standard.
B) want.
C) utility.
D) demand.
E) preference.
A) standard.
B) want.
C) utility.
D) demand.
E) preference.
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50
All of the following are examples of products or services that satisfy a consumer need except which?
A) a pair of socks
B) an apple
C) a student dormitory
D) a sales tax
E) a jacket
A) a pair of socks
B) an apple
C) a student dormitory
D) a sales tax
E) a jacket
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51
Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger
A) preference.
B) need.
C) utility.
D) perception.
E) expression.
A) preference.
B) need.
C) utility.
D) perception.
E) expression.
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52
In product development, showstoppers refer to
A) creative or innovative members of a marketing team.
B) unexpected alternative uses for a product that result in a sudden increase in sales.
C) factors that might doom a product in the marketplace.
D) a sudden loss of financial backing even though the item is in production.
E) a situation when a competitor's product suddenly beats a firm's new product to the marketplace.
A) creative or innovative members of a marketing team.
B) unexpected alternative uses for a product that result in a sudden increase in sales.
C) factors that might doom a product in the marketplace.
D) a sudden loss of financial backing even though the item is in production.
E) a situation when a competitor's product suddenly beats a firm's new product to the marketplace.
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53
A ________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.
A) desire
B) need
C) utility
D) want
E) craving
A) desire
B) need
C) utility
D) want
E) craving
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54
A want is ________ that is shaped by a person's knowledge, culture, and personality.
A) a desire
B) a need
C) a utility
D) a demand
E) an option
A) a desire
B) a need
C) a utility
D) a demand
E) an option
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55
A factor that might doom a product in the marketplace is referred to as
A) an albatross.
B) a land mine.
C) a pitfall.
D) a showstopper.
E) a wild card.
A) an albatross.
B) a land mine.
C) a pitfall.
D) a showstopper.
E) a wild card.
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56
Crowdsourcing has been an important method of identifying consumer needs for which of these products?
A) Amazon Echo
B) Pepsi True
C) LEGO Voltron Robot
D) Google Glass
E) ZipCar
A) Amazon Echo
B) Pepsi True
C) LEGO Voltron Robot
D) Google Glass
E) ZipCar
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57
If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer for Colgate, when launching a new version of the toothpaste?
A) Anticipate the future five years out in terms of product form, ingredients, and packaging-to invent the "toothpaste of tomorrow!"
B) Give the product a mysterious name that is unrelated to the product's benefits but instead provokes consumer curiosity.
C) Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay.
D) Create unusual packaging that has special shelving requirements.
E) Study past toothpaste product failures and learn from them.
A) Anticipate the future five years out in terms of product form, ingredients, and packaging-to invent the "toothpaste of tomorrow!"
B) Give the product a mysterious name that is unrelated to the product's benefits but instead provokes consumer curiosity.
C) Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay.
D) Create unusual packaging that has special shelving requirements.
E) Study past toothpaste product failures and learn from them.
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58
Which statement best distinguishes between consumer needs and wants?
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 luxury items while needs are solely possessions required to maintain relationships.
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 luxury items while needs are solely possessions required to maintain relationships.
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.
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59
With new Nutrition Fact label requirements taking effect in 2020, Coca-Cola is testing Coca-Cola Stevia which will be sweetened only with the natural ingredient stevia. A potential showstopper for this product is likely to be
A) a lack of advertising on television.
B) previous products with stevia sweetener had a bitter aftertaste.
C) a lower profit margin due to the added costs of expensive ingredients.
D) cannibalization of the company's existing sodas.
E) pressure from the cane sugar and corn industries.
A) a lack of advertising on television.
B) previous products with stevia sweetener had a bitter aftertaste.
C) a lower profit margin due to the added costs of expensive ingredients.
D) cannibalization of the company's existing sodas.
E) pressure from the cane sugar and corn industries.
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60
Conducting marketing research is an excellent way to address the first objective in marketing, which is to discover consumers'
A) diversity of opinion, to create persuasive advertising messages.
B) income, to determine the most lucrative price point for a product.
C) lifetime value of an offering to the organization.
D) characteristics that would be useful to identify market segments.
E) needs, to create products that could satisfy them.
A) diversity of opinion, to create persuasive advertising messages.
B) income, to determine the most lucrative price point for a product.
C) lifetime value of an offering to the organization.
D) characteristics that would be useful to identify market segments.
E) needs, to create products that could satisfy them.
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61
A target market is defined as
A) customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers.
B) both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs.
C) a specific group of current consumers toward which an organization directs its advertising.
D) existing or potential consumers who are seeking a product for which there are no current substitutes.
E) one or more specific groups of potential consumers toward which an organization directs its marketing program.
A) customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers.
B) both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs.
C) a specific group of current consumers toward which an organization directs its advertising.
D) existing or potential consumers who are seeking a product for which there are no current substitutes.
E) one or more specific groups of potential consumers toward which an organization directs its marketing program.
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62
The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as
A) the marketing concept.
B) the marketing mix.
C) the marketing program.
D) environmental forces.
E) the marketing toolbox.
A) the marketing concept.
B) the marketing mix.
C) the marketing program.
D) environmental forces.
E) the marketing toolbox.
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63

A) decisions by management; purchases by customers
B) employees efforts; stakeholder rewards
C) sales department; manufacturing department
D) suppliers; distributors
E) discovering consumer needs; satisfying consumer needs
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64
In a marketing context, a market refers to
A) people with a similar want for a particular product or service.
B) people with both the desire and ability to buy a specific offering.
C) the central location for all buying and selling of products and services.
D) an open space or covered building where vendors convene to sell their offerings.
E) the free operation of supply and demand.
A) people with a similar want for a particular product or service.
B) people with both the desire and ability to buy a specific offering.
C) the central location for all buying and selling of products and services.
D) an open space or covered building where vendors convene to sell their offerings.
E) the free operation of supply and demand.
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65
Which group would be the least likely target market for a company producing canned food in single-serving sizes?
A) single adults
B) school kitchens
C) campers
D) senior citizens
E) vending machine owners
A) single adults
B) school kitchens
C) campers
D) senior citizens
E) vending machine owners
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66
The United States Army was both praised and criticized for its use of a popular video game, America's Army, which was designed to reach potential recruits. The game's creator, Colonel Casey Wardynski, wanted to provide a sense of the training and teamwork one could find in the Army's military environment. The game was designed for "boys 14 years or older," which represent the Army's
A) mass market.
B) actual recruits.
C) restricted market.
D) target market.
E) untapped market.
A) mass market.
B) actual recruits.
C) restricted market.
D) target market.
E) untapped market.
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67
A local university offers business courses for a target market of people who currently work and want to take refresher courses for certification in their business field (marketing, accounting, etc.). What would be the most effective way to communicate with the target market, bearing in mind that communication must be both effective and economical?
A) Put announcements on campus bulletin boards.
B) Distribute promotional materials during classes.
C) Advertise on national television.
D) Advertise on local hip-hop radio shows.
E) Advertise on LinkedIn, a social media network for professionals.
A) Put announcements on campus bulletin boards.
B) Distribute promotional materials during classes.
C) Advertise on national television.
D) Advertise on local hip-hop radio shows.
E) Advertise on LinkedIn, a social media network for professionals.
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68
All markets ultimately are composed of
A) people.
B) brands.
C) products.
D) organizations.
E) locations.
A) people.
B) brands.
C) products.
D) organizations.
E) locations.
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69
Product, price, promotion, and place are all components of
A) the firm's required ongoing activities.
B) the marketing mix.
C) factors used to examine 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) the firm's required ongoing activities.
B) the marketing mix.
C) factors used to examine 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.
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70
What would a marketer use as a synonym for the marketing mix?
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
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71
The marketing mix refers to
A) the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line.
B) the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling.
C) the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem.
D) the allocation of resources within a firm toward individual marketing programs.
E) the environmental forces-social, economic, technological, competitive, and regulatory-that impact the marketing decisions for a particular product at any given time.
A) the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line.
B) the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling.
C) the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem.
D) the allocation of resources within a firm toward individual marketing programs.
E) the environmental forces-social, economic, technological, competitive, and regulatory-that impact the marketing decisions for a particular product at any given time.
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72
Which people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?
A) all people with an interest in professional football
B) all people in the Midwest who have an interest in sports
C) all men who played on a varsity football team in high school
D) all people in the Indianapolis and surrounding areas interested in football
E) all people in Indiana who watch football on TV
A) all people with an interest in professional football
B) all people in the Midwest who have an interest in sports
C) all men who played on a varsity football team in high school
D) all people in the Indianapolis and surrounding areas interested in football
E) all people in Indiana who watch football on TV
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73
Satisfying consumer needs is accomplished by
A) designing successfully implementing a marketing program.
B) conducting marketing research.
C) discovering consumer needs.
D) developing a distribution strategy.
E) identifying target markets.
A) designing successfully implementing a marketing program.
B) conducting marketing research.
C) discovering consumer needs.
D) developing a distribution strategy.
E) identifying target markets.
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74
People with both the desire and ability to buy a specific offering are referred to as
A) shoppers.
B) a customer base.
C) a market.
D) qualified prospects.
E) candidates.
A) shoppers.
B) a customer base.
C) a market.
D) qualified prospects.
E) candidates.
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75
The four Ps of the marketing mix are
A) priorities, personnel, placement, and profits.
B) prediction, production, price, and promotion.
C) product, price, production, and place.
D) product, price, promotion, and place.
E) prediction, production, packaging, and persuasion.
A) priorities, personnel, placement, and profits.
B) prediction, production, price, and promotion.
C) product, price, production, and place.
D) product, price, promotion, and place.
E) prediction, production, packaging, and persuasion.
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76
The best description of the market for cosmetic dentistry, where costs can be as much as $15,000 for teeth straightening and whitening, is
A) toddlers with crooked baby teeth, when crooked teeth run in the family.
B) all former smokers who have been smoke-free for at least one year.
C) anyone who has the time, the money, and the desire to undergo the procedures.
D) anyone who has dental insurance.
E) adults who want to make a good first impression for an event.
A) toddlers with crooked baby teeth, when crooked teeth run in the family.
B) all former smokers who have been smoke-free for at least one year.
C) anyone who has the time, the money, and the desire to undergo the procedures.
D) anyone who has dental insurance.
E) adults who want to make a good first impression for an event.
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77
TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which group of people would be the most likely target market for TUMI briefcases?
A) police officers
B) executives
C) construction workers
D) massage therapists
E) students
A) police officers
B) executives
C) construction workers
D) massage therapists
E) students
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78
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Other items in the product line contain small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri-Sun juice, or Kool-Aid. The box is bright yellow and the quantity of food contained within it is small. The target market for Kraft Lunchables is most likely
A) parents with school-age children who pack a simple healthy lunch for them.
B) businesspeople looking for a satisfying breakfast at the office.
C) business travelers on the run.
D) teenagers who have missed a meal for after-school activities.
E) baby boomers who are trying to lose weight.
A) parents with school-age children who pack a simple healthy lunch for them.
B) businesspeople looking for a satisfying breakfast at the office.
C) business travelers on the run.
D) teenagers who have missed a meal for after-school activities.
E) baby boomers who are trying to lose weight.
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79
Discovering consumer needs leads directly to
A) purchases by customers.
B) stakeholder rewards.
C) sales and manufacturing department outcomes.
D) supplier and distributor outcomes.
E) concepts for new products.
A) purchases by customers.
B) stakeholder rewards.
C) sales and manufacturing department outcomes.
D) supplier and distributor outcomes.
E) concepts for new products.
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80
One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a ________ market.
A) mass
B) base
C) potential
D) target
E) promotional
A) mass
B) base
C) potential
D) target
E) promotional
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