Deck 1: Creating Customer Relationships and Value Through Marketing

Full screen (f)
exit full mode
Question
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization and its stakeholders is referred to as __________.

A)marketing
B)production
C)manufacturing
D)selling
E)promotion
Use Space or
up arrow
down arrow
to flip the card.
Question
To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

A)change
B)create
C)discover
D)manipulate
E)weigh
Question
If other companies applied the same strategy used by David Windorski at 3M, they would most likely

A)find a winning strategy and stick with it.
B)search continuously to discover customers' needs.
C)change strategies every ten years to avoid becoming complacent.
D)avoid excessive attention to customers' demands; customers cannot always differentiate between their needs and their wants.
E)focus on the shareholders of the company and know the strategy will follow.
Question
While working at 3M, Windorski and his team observed and questioned students about how they used their textbooks, took notes, wrote term papers, and reviewed for exams, primarily in order to

A)convince them of 3M's superiority over other competitors.
B)determine how much the average college student traditionally spends on bookstore supplies.
C)find possible correlations between students' study styles and their final grades.
D)discover a potentially new way to satisfy student needs by creating a new product.
E)relate more effectively with a younger student population.
Question
In October 2006, __________ bought YouTube for $1.65 billion, only 21 months after its founding.

A)Apple
B)Google
C)Microsoft
D)Warner Brothers
E)Insight Film Studios
Question
Which of the following statements about stakeholders is most accurate?

A)Ultimately the only stakeholder is the customer.
B)The organization doing the marketing, suppliers, shareholders, employees, and consumers are all potential stakeholders.Ultimately all of society should benefit.
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 reach the consumer.
E)The only way to be a stakeholder is to have a financial investment in a good, idea, or service.
Question
Whether an individual is buying for personal use or use for his household, or an organization is buying for its own use or for resale, the individual or organization would be considered

A)a prospective customer.
B)the primary marketing decision maker.
C)a potential marketing risk.
D)an informed buyer.
E)an unqualified prospect.
Question
YouTube.com was named Time Magazine's Invention of the Year for 2006.They attributed its success to the fact that it

A)was both edgy and easy for users.
B)was targeted exclusively to the new "web-savvy" generation.
C)placed no restrictions on the type of material that could be uploaded.
D)charged only a nominal user's fee so almost everyone could have access.
E)had built-in spyware to protect its users.
Question
Which of the following statements about the study of 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; unfortunately most people have none.
C)Marketing cannot really be taught.It requires an innate sense of creativity; you either have it or you don't.
D)You are already a marketing expert because as a consumer, you have already been involved in marketing decisions.
E)You can call yourself a marketing expert only if you have been in sales (even if you only sold something as a child).
Question
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as __________.

A)marketing
B)advertising and promotion
C)innovative selling
D)creative planning
E)consumerism
Question
The minds behind the YouTube concept were

A)Bill Gates, Michael Dell, and Steve Jobs.
B)Steve Chen, Chad Hurley, and Jawed Karim.
C)Elon Musk, Steve Wozniak, and Bill Gates.
D)Wei Xin, Elon Musk, and Steve Jobs.
E)Jerry Yang, David Filo, and Jeff Bezos.
Question
The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as __________.

A)selling
B)advertising
C)marketing
D)commerce
E)trade
Question
A student wants to buy a cell phone so she can share pictures with her friends, and an insurance claims adjuster wants to buy a cell phone to document accident reports.If they both purchase the same model phone, which statement is most accurate?

A)The adjuster is a prospective customer because the phone will be used for work; the student is only a secondary user since the purpose of the phone is just for entertainment.
B)Both the adjuster and students are potential customers because in their own way, they both benefit from the product.
C)Neither the adjuster nor the student is a prospective customer, since most likely the company will pay for the adjuster's phone and the student's parents will pay for hers.
D)The student is the prospective customer since there are more students buying phones for personal use than there are insurance adjusters buying phones for business use.
E)Every person who uses a cell phone is a prospective customer whether they receive benefit from the phone or not.
Question
More than half of new businesses fail within __________ years of their launch.

A)two
B)three
C)four
D)five
E)ten
Question
Steve Chen, Chad Hurley, and Jawed Karim were the minds behind the __________ concept.

A)PayPal
B)eBay
C)Amazon
D)YouTube
E)Facebook
Question
Marketing refers to

A)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its shareholders, and employees.
B)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its shareholders, and customers.
C)the activity for creating, communicating, delivering a product or service to a specific segment of the market, providing the greatest customer value at the highest possible price.
D)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large.
E)the activities of advertising, promoting, and selling products to the greatest number of potential customers while simultaneously meeting the needs of the customer and organization.
Question
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as __________.

A)marketing
B)production and advertising
C)innovative selling
D)creative planning
E)consumerism
Question
Marketing refers to

A)the production or provision of goods or services that will generate the highest return on investment.
B)the strategies used in the advertising and promotion of goods and services.
C)the process of identifying the greatest number of target markets for a good or service.
D)the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.
E)the activity involved in actually getting a product or service to the ultimate user.
Question
The common factor among the chairman of the board, the stockholders, the suppliers, the laborers in the factory, and finally the customer who purchases the product is

A)everyone has a say in the ultimate design of the product.
B)everyone is legally culpable if something goes wrong with the product.
C)all of the people listed in the question are stakeholders and should benefit by marketing of the product.
D)all of the people and/or organizations had to make some type of direct financial investment in the product.
E)all of the people listed in the question use the product or service themselves.
Question
How much time does 3M allow their inventors for the purpose of doing initially unfunded research?

A)5%
B)10%
C)15%
D)25%
E)35%
Question
The trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.

A)exchange
B)acquisition
C)consumerism
D)utility
E)reciprocity
Question
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, B represents a firm's partnerships with</strong> A)other organizations. B)suppliers. C)shareholders. D)customers. E)other departments. <div style=padding-top: 35px>
In Figure 1-1 above, "B" represents a firm's partnerships with

A)other organizations.
B)suppliers.
C)shareholders.
D)customers.
E)other departments.
Question
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, C represents a firm's ownership with</strong> A)other organizations. B)suppliers. C)shareholders. D)customers. E)other departments. <div style=padding-top: 35px>
In Figure 1-1 above, "C" represents a firm's ownership with

A)other organizations.
B)suppliers.
C)shareholders.
D)customers.
E)other departments.
Question
Which of the following statements 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 only involved if there is an emergency (such as a product recall).
D)Environmental factors do not affect marketing activities as long as a firm implements a policy of perpetual market research.
E)Marketing after all is said and done, is essentially finding the right product and convincing potential customers that they not just "want it," they "need it."
Question
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, D represents a firm's relationship with</strong> A)other organizations. B)suppliers. C)shareholders. D)customers. E)other departments. <div style=padding-top: 35px>
In Figure 1-1 above, "D" represents a firm's relationship with

A)other organizations.
B)suppliers.
C)shareholders.
D)customers.
E)other departments.
Question
The Transition is a 19-foot, two-seater road able light-sport aircraft with an anticipated price of US $148,000.The most likely prospective customers for this flying car include

A)students interested in science fiction.
B)retired seniors receiving social security.
C)executives for whom time is extremely important.
D)teens who like to try new things.
E)all of the people above are prospective customers of the Transition; no one group is more likely than another.
Question
The first objective in marketing is to discover the __________ of prospective customers.

A)diversity
B)potential
C)objectives
D)needs
E)inconsistencies
Question
New-product experts generally estimate that up to __________ percent of the more than 33,000 new consumable products introduced in the United States annually "don't succeed in the long run."

A)33
B)50
C)75
D)80
E)94
Question
The two central concerns of marketing are

A)establishing market share and making profits.
B)holding down costs and increasing profits.
C)finding customers and making profits.
D)discovering and satisfying needs.
E)discovering new products and bringing them to the marketplace.
Question
The American Red Cross created a series of advertisements encouraging viewers to donate blood.After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood.Amanda returned home feeling happy that she had performed a good deed.Was this a marketing exchange?

A)Yes, because the Red Cross ran a formal advertisement
B)Yes, because the donated blood was exchanged for a feeling of satisfaction
C)No, because the Red Cross is a non-profit organization
D)No, because no money was exchanged
E)No, because the Red Cross did not provide Amanda with a product
Question
Which of the following statements about marketing departments is most accurate?

A)It is the responsibility of the personnel department to facilitate relationships with the organization's customers; thus the marketing department should work solely within its own department.
B)It is the responsibility of the marketing to suggest where a firm should invest its money, based on their knowledge of the market and environmental forces.
C)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.
D)The marketing department is not responsible for establishing alliances with the organization's shareholders and other organizations; it is only responsible for the 4Ps.
E)The marketing department is responsible for market research, supervision of product construction, and final promotion of the product.All other tasks are the responsibility of other departments such as the finance department, human resources, and information management.
Question
Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange.To marketing people exchange refers to the

A)negotiation phase between the manufacturer and the seller.
B)financial remuneration (monetary payment) for an item or service.
C)trade of things of value between buyer and seller so that each is better off after the trade.
D)bartering of goods and services for other goods and services of greater or equal value.
E)acquisition of something of value that equals or exceeds the customer's expectations.
Question
Which of the following statements about marketing departments is most accurate?

A)It is the responsibility of the personnel department to facilitate relationships with the organization's customers; thus the marketing department should work solely within its own department.
B)It is the responsibility of the marketing to suggest where a firm should invest its money, based on their knowledge of the market and environmental forces.
C)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.
D)The marketing department is not responsible for establishing alliances with the organization's shareholders and other organizations; it is only responsible for the 4Ps.
E)The marketing department is responsible for market research, supervision of product construction, and final promotion of the product.All other tasks are the responsibility of other departments such as the finance department, human resources, and information management.
Question
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, A represents a firm's alliances with</strong> A)suppliers. B)customers. C)shareholders. D)other departments. E)other organizations. <div style=padding-top: 35px>
In Figure 1-1 above, "A" represents a firm's alliances with

A)suppliers.
B)customers.
C)shareholders.
D)other departments.
E)other organizations.
Question
FIGURE 1-1 <strong>FIGURE 1-1   As shown in Figure 1-1 above, the marketing department of an organization is responsible for facilitating relationships, partnerships, and __________.</strong> A)healthy competition with other product manufacturers B)financial contracts with banks and other lending institutions C)alliances with the organization's customers, its shareholders, its suppliers, and other organizations D)alliances with firms with non-competitive products but similar target markets E)networks with advertising, publicity, and other public relations firms <div style=padding-top: 35px>
As shown in Figure 1-1 above, the marketing department of an organization is responsible for facilitating relationships, partnerships, and __________.

A)healthy competition with other product manufacturers
B)financial contracts with banks and other lending institutions
C)alliances with the organization's customers, its shareholders, its suppliers, and other organizations
D)alliances with firms with non-competitive products but similar target markets
E)networks with advertising, publicity, and other public relations firms
Question
FIGURE 1-1 <strong>FIGURE 1-1   As shown in Figure 1-1 above, the __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, its shareholders, its suppliers, and other organizations.</strong> A)purchasing B)marketing C)human resources D)accounting E)information systems <div style=padding-top: 35px>
As shown in Figure 1-1 above, the __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, its shareholders, its suppliers, and other organizations.

A)purchasing
B)marketing
C)human resources
D)accounting
E)information systems
Question
A local college of business offers an outstanding business school education.Cali pays the tuition to attend and earns her MBA with a concentration in Supply Chain Management.Upon graduating, she is offered a high paying, fulfilling position.Was this a marketing exchange?

A)No, because the university made a profit from Cali's tuition through the entire time she was in school and will most likely receive additional funds from Cali as an alumnus.
B)No, because money was exchanged in the form of tuition and Cali' income will come from her employer, not her graduate school.
C)No, because the school did not provide Cali with a tangible product, only the potential of an education.
D)Yes, because the university promised Cali she would graduate on time and she did.
E)Yes, because paying tuition was exchanged for knowledge that directly led to Cali's fulfilling, new job.
Question
A company designs and sells high quality baseball gloves.Who would benefit the least if the firm implements a quality marketing program?

A)A baseball player who purchases a new glove (regardless of how good a player).
B)The salesperson who sold the baseball player the glove.
C)The supplier who provided the leather for manufacturing.
D)The shareholders of the firm that design and manufacture the glove.
E)No one should benefit "least." There should be benefit to all of the people or organizations listed above; even society benefit.
Question
A church has put advertisements in its weekly bulletins to encourage its members to participate in the services by reading.Jack volunteered and read during a service.He felt satisfied and felt he was contributing to his church.Was this a marketing exchange?

A)Yes, because the church ran an advertisement
B)Yes, because reading at the service was exchanged for a feeling of satisfaction
C)No, because the church is a non-profit organization
D)No, because no money was exchanged
E)No, because the church did not provide Jack with a tangible product
Question
Exchange refers to

A)the trade of things of value between buyer and seller so that each is better off after the trade.
B)the replacement of one product for another product of equal or greater value, as compensation for a product that failed to meet expectations.
C)the proffering of money, whether in the form of cash, check, or credit card, for a product or service at the time of purchase.
D)a legally binding agreement to purchase a product or service allowing for a grace period of three days during which the contract can be dissolved without penalty.
E)an international agency with the responsibility of determining relative values for currency throughout the world, on a daily basis; also referred to as the foreign exchange rate.
Question
According to Robert M.McMath, when should a marketer make a careful study of product failures?

A)After a new product has failed to meet sales predictions
B)When preparing to launch a new product
C)When repositioning a well-known brand
D)When looking for a new market for an existing product
E)When considering new channels of distribution
Question
To avoid new-product failure, Robert M.McMath, a new-product expert, suggests

A)implementing a regional rather than a nationwide rollout of the product.
B)a thorough examination of similar products that have had a higher than anticipated success.
C)focusing on customer benefits and learning from the past.
D)spending as much of the budget as possible on new product production.
E)releasing several different prototypes at the same time to see which is most successful.
Question
Market refers to

A)people with a need and a want for a product.
B)organizations with the need and desire for an offering.
C)organizations with products which satisfy people's needs and wants.
D)people with the desire and ability to buy a specific offering.
E)people with the desire and the need for a product.
Question
If you followed the suggestions of Robert M.McMath, which answer provides the best advice for a marketer preparing to launch a new consumer health beverage?

A)Give the product a scientific sounding name that explains all of its benefits.
B)Give the product a mysterious name that is unrelated to the product's benefits but provokes consumer curiosity.
C)Initiate a campaign against beverage sweetened with corn syrup.
D)Create unusual packaging that has special shelving requirements.
E)Focus on what the customer benefit is, and learn from the past.
Question
The most likely market for cosmetic dentistry (which can cost $15,000 for straightening and whitening) is

A)children with crooked teeth, when crooked teeth runs 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 that has ever had any plastic surgery.
E)adults who rely on making a good first impression for job success.
Question
People with the desire and ability to buy a specific offering are referred to as a(n) __________.

A)market
B)interest group
C)customer pool
D)customer cluster
E)focus group
Question
A want refers to

A)a sense of personal inadequacy based upon observations by others around you.
B)a sense of urgency which causes a person to take action even though it may put him in peril.
C)a felt need that is shaped by a person's knowledge, culture, or individual personality.
D)a feeling of being physiologically deprived of something, but not fully understanding what "it" may be.
E)a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.
Question
All markets ultimately are composed of __________.

A)people
B)brands
C)products
D)organizations
E)reference groups
Question
Marketing discovers consumer needs by

A)implementing a marketing program.
B)balancing the elements of the 4 Ps.
C)using extensive preliminary research.
D)advertising to diverse groups of potential buyers.
E)analyzing the marketing strategies of its primary competitors.
Question
Market refers to

A)people united by a similar need or desire 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 commodities.
D)a physical edifice, whether temporary, rented, leased, or permanent, that offers both a place to show one's wares and the materials necessary to complete an exchange.
E)a location either permanent or temporary used to safely store or display merchandise of a specific form or type.
Question
A __________ is a need that is shaped by a person's knowledge, culture, and personality.

A)satisfaction
B)desire
C)want
D)utility
E)fulfillment
Question
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.
D)a sudden loss of financial backing even though the item is in production.
E)a situation where a competitor's product suddenly beats a firm's new product to the marketplace.
Question
People with both the desire and ability to buy a specific offering are referred to as a __________.

A)customer pool
B)customer base
C)market
D)sales set
E)target segment
Question
Which of the following statements best defines needs and wants?

A)Needs are far more influential in marketing decision making than wants are.
B)Wants affect marketing decisions primarily on planned purchases, while needs affect marketing decisions primarily on spontaneous purchases.
C)Wants occur when a person feels physiologically deprived of something and needs are determined by a person's knowledge, culture, or personality.
D)Needs occur when a person feels physiologically deprived of something, and wants are determined by a person's knowledge, culture, or personality.
E)Needs and wants are exactly the same; they are both easily manipulated.
Question
A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst.The refrigerator offers the youngsters many alternatives-soft drinks, fruit drinks, sport drinks, and bottles of Sunny Delight drinks.The ad, which shows the teens happily selecting Sunny Delight over all the other product offerings, appeals to the consumers' __________ for liquid and attempts to shape consumers' __________ for the advertised product.

A)wants; needs
B)wants; desire
C)desire; needs
D)needs; wants
E)needs; preferences
Question
A need refers to

A)a sense of personal inadequacy based upon observations by others around you.
B)a sense of urgency which causes a person to take action even though it may put him in peril.
C)a feeling that is shaped by a person's knowledge, culture, or individual personality.
D)a feeling of being physiologically deprived of something, but not fully understanding what "it" may be.
E)a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.
Question
In Figure 1-2 above, section "A" represents __________ and section "B" represents __________.

A)owners, shareholders, department heads; suppliers, distributors, retailers
B)manufacturers; product prototypes, market testing, sales
C)marketing department supervisors; department employees and outsourced firms
D)manufacturers; suppliers, distributors, retailers, and customers
E)the process of discovering consumer needs; the process of satisfying consumer needs by designing a marketing program having the right combination of product, price, promotion, and place
Question
Target market refers to

A)all people who purchase a product regardless who ultimately uses it.
B)one or more specific groups of potential consumers toward which an organization directs its marketing program.
C)potential customers who are currently using competitors' products.
D)the group of potential consumers who are willing and able to pay the highest possible price for a given product.
E)the group of potential consumers who are not yet aware of a company's product but who might benefit from its use.
Question
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)requirement
Question
A factor that might doom a product is referred to as a(n) __________.

A)albatross
B)monkey wrench
C)showstopper
D)loose cannon
E)wild card
Question
Which of the following groups would be the least likely target market for a company producing canned foods in single serving sizes?

A)Single adults
B)School kitchens
C)Campers
D)Senior citizens
E)Vending machine owners
Question
The element of the marketing mix that describes a good, service, or idea to satisfy the consumer's need is

A)product.
B)price.
C)promotion.
D)place.
E)process.
Question
The element of the marketing mix that describes a means of getting the product to the consumer is

A)promotion.
B)price.
C)product.
D)place.
E)process.
Question
One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

A)mass market.
B)tangential market.
C)market aggregation.
D)target market.
E)promotional market.
Question
A local university offers business courses for a specific target market composed of people who currently work, who want to take refresher courses, or work towards a higher degree.Which of the following 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 in the local newspaper.
Question
TUMI brand briefcases are very expensive, high-end briefcases, generally sold in specialty luggage shops.Which of the following groups would be the most likely target market for TUMI brand briefcases?

A)Police officers
B)Executives
C)Construction workers
D)Postal workers
E)Students
Question
Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&Ms® brand candies?

A)Product
B)Price
C)Promotion
D)Place
E)Production
Question
Which of the following 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 in the Indianapolis and surrounding areas interested in football
B)All people in the Midwest who have an interest in sports
C)All men who played on a varsity sports team in high school
D)All people with an interest in professional football
E)All people in Indiana who watch professional football on TV
Question
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese.Some versions contain Capri Sun drinks.Others are called "Cracker Stackers" and "Fun Fuel".The box is bright yellow and the quantity of food contained within is small.The target market for Kraft Lunchables is most likely

A)moms of school-age children packing a simple healthy lunch.
B)business people looking for a quick snack.
C)business travelers on the run.
D)teenagers who are hungry right after school.
E)baby boomers who are trying to lose weight.
Question
Target market refers to

A)consumers who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
B)consumers and potential consumers who have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
C)one or more specific groups of potential consumers toward which an organization directs its marketing program to the exclusion of other potential customers.
D)one or more specific groups of 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.
Question
The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

A)Product
B)Price
C)Promotion
D)Place
E)Process
Question
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets.This statement deals with which part of the marketing mix?

A)Product
B)Process
C)Price
D)Place
E)Target markets
Question
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market.Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

A)product
B)price
C)promotion
D)place
E)production
Question
The element of the marketing mix that describes what is exchanged for a product is

A)procedure.
B)place.
C)promotion.
D)product.
E)price.
Question
To attend the winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door.This statement is most closely related to the __________ element of the marketing mix.

A)product
B)philanthropy
C)price
D)place
E)promotion
Question
The element of the marketing mix demonstrated when a company places an ad in the Yellow Pages is __________.

A)product
B)price
C)promotion
D)place
E)process
Question
The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is __________.

A)product
B)price
C)promotion
D)place
E)procurement
Question
The United States Army has recently been both praised and criticized for its use of a popular video game-America's Army designed to reach potential recruits.The game's creator Col.Casey Wardynski wanted to provide a sense of the training and teamwork one could find in the military environment.The game is designed for "boys 14 years or older;" these players represent the Army's __________.

A)mass market
B)counter-market
C)restricted market
D)target market
E)untapped market
Question
The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

A)product
B)price
C)promotion
D)place
E)philanthropy
Question
The element of the marketing mix that describes a means of communication between the seller and buyer is

A)place.
B)promotion.
C)price.
D)product.
E)progression.
Unlock Deck
Sign up to unlock the cards in this deck!
Unlock Deck
Unlock Deck
1/233
auto play flashcards
Play
simple tutorial
Full screen (f)
exit full mode
Deck 1: Creating Customer Relationships and Value Through Marketing
1
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization and its stakeholders is referred to as __________.

A)marketing
B)production
C)manufacturing
D)selling
E)promotion
A
2
To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

A)change
B)create
C)discover
D)manipulate
E)weigh
C
3
If other companies applied the same strategy used by David Windorski at 3M, they would most likely

A)find a winning strategy and stick with it.
B)search continuously to discover customers' needs.
C)change strategies every ten years to avoid becoming complacent.
D)avoid excessive attention to customers' demands; customers cannot always differentiate between their needs and their wants.
E)focus on the shareholders of the company and know the strategy will follow.
B
4
While working at 3M, Windorski and his team observed and questioned students about how they used their textbooks, took notes, wrote term papers, and reviewed for exams, primarily in order to

A)convince them of 3M's superiority over other competitors.
B)determine how much the average college student traditionally spends on bookstore supplies.
C)find possible correlations between students' study styles and their final grades.
D)discover a potentially new way to satisfy student needs by creating a new product.
E)relate more effectively with a younger student population.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
5
In October 2006, __________ bought YouTube for $1.65 billion, only 21 months after its founding.

A)Apple
B)Google
C)Microsoft
D)Warner Brothers
E)Insight Film Studios
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
6
Which of the following statements about stakeholders is most accurate?

A)Ultimately the only stakeholder is the customer.
B)The organization doing the marketing, suppliers, shareholders, employees, and consumers are all potential stakeholders.Ultimately all of society should benefit.
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 reach the consumer.
E)The only way to be a stakeholder is to have a financial investment in a good, idea, or service.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
7
Whether an individual is buying for personal use or use for his household, or an organization is buying for its own use or for resale, the individual or organization would be considered

A)a prospective customer.
B)the primary marketing decision maker.
C)a potential marketing risk.
D)an informed buyer.
E)an unqualified prospect.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
8
YouTube.com was named Time Magazine's Invention of the Year for 2006.They attributed its success to the fact that it

A)was both edgy and easy for users.
B)was targeted exclusively to the new "web-savvy" generation.
C)placed no restrictions on the type of material that could be uploaded.
D)charged only a nominal user's fee so almost everyone could have access.
E)had built-in spyware to protect its users.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
9
Which of the following statements about the study of 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; unfortunately most people have none.
C)Marketing cannot really be taught.It requires an innate sense of creativity; you either have it or you don't.
D)You are already a marketing expert because as a consumer, you have already been involved in marketing decisions.
E)You can call yourself a marketing expert only if you have been in sales (even if you only sold something as a child).
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
10
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as __________.

A)marketing
B)advertising and promotion
C)innovative selling
D)creative planning
E)consumerism
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
11
The minds behind the YouTube concept were

A)Bill Gates, Michael Dell, and Steve Jobs.
B)Steve Chen, Chad Hurley, and Jawed Karim.
C)Elon Musk, Steve Wozniak, and Bill Gates.
D)Wei Xin, Elon Musk, and Steve Jobs.
E)Jerry Yang, David Filo, and Jeff Bezos.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
12
The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as __________.

A)selling
B)advertising
C)marketing
D)commerce
E)trade
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
13
A student wants to buy a cell phone so she can share pictures with her friends, and an insurance claims adjuster wants to buy a cell phone to document accident reports.If they both purchase the same model phone, which statement is most accurate?

A)The adjuster is a prospective customer because the phone will be used for work; the student is only a secondary user since the purpose of the phone is just for entertainment.
B)Both the adjuster and students are potential customers because in their own way, they both benefit from the product.
C)Neither the adjuster nor the student is a prospective customer, since most likely the company will pay for the adjuster's phone and the student's parents will pay for hers.
D)The student is the prospective customer since there are more students buying phones for personal use than there are insurance adjusters buying phones for business use.
E)Every person who uses a cell phone is a prospective customer whether they receive benefit from the phone or not.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
14
More than half of new businesses fail within __________ years of their launch.

A)two
B)three
C)four
D)five
E)ten
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
15
Steve Chen, Chad Hurley, and Jawed Karim were the minds behind the __________ concept.

A)PayPal
B)eBay
C)Amazon
D)YouTube
E)Facebook
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
16
Marketing refers to

A)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its shareholders, and employees.
B)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its shareholders, and customers.
C)the activity for creating, communicating, delivering a product or service to a specific segment of the market, providing the greatest customer value at the highest possible price.
D)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large.
E)the activities of advertising, promoting, and selling products to the greatest number of potential customers while simultaneously meeting the needs of the customer and organization.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
17
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as __________.

A)marketing
B)production and advertising
C)innovative selling
D)creative planning
E)consumerism
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
18
Marketing refers to

A)the production or provision of goods or services that will generate the highest return on investment.
B)the strategies used in the advertising and promotion of goods and services.
C)the process of identifying the greatest number of target markets for a good or service.
D)the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.
E)the activity involved in actually getting a product or service to the ultimate user.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
19
The common factor among the chairman of the board, the stockholders, the suppliers, the laborers in the factory, and finally the customer who purchases the product is

A)everyone has a say in the ultimate design of the product.
B)everyone is legally culpable if something goes wrong with the product.
C)all of the people listed in the question are stakeholders and should benefit by marketing of the product.
D)all of the people and/or organizations had to make some type of direct financial investment in the product.
E)all of the people listed in the question use the product or service themselves.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
20
How much time does 3M allow their inventors for the purpose of doing initially unfunded research?

A)5%
B)10%
C)15%
D)25%
E)35%
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
21
The trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.

A)exchange
B)acquisition
C)consumerism
D)utility
E)reciprocity
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
22
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, B represents a firm's partnerships with</strong> A)other organizations. B)suppliers. C)shareholders. D)customers. E)other departments.
In Figure 1-1 above, "B" represents a firm's partnerships with

A)other organizations.
B)suppliers.
C)shareholders.
D)customers.
E)other departments.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
23
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, C represents a firm's ownership with</strong> A)other organizations. B)suppliers. C)shareholders. D)customers. E)other departments.
In Figure 1-1 above, "C" represents a firm's ownership with

A)other organizations.
B)suppliers.
C)shareholders.
D)customers.
E)other departments.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
24
Which of the following statements 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 only involved if there is an emergency (such as a product recall).
D)Environmental factors do not affect marketing activities as long as a firm implements a policy of perpetual market research.
E)Marketing after all is said and done, is essentially finding the right product and convincing potential customers that they not just "want it," they "need it."
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
25
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, D represents a firm's relationship with</strong> A)other organizations. B)suppliers. C)shareholders. D)customers. E)other departments.
In Figure 1-1 above, "D" represents a firm's relationship with

A)other organizations.
B)suppliers.
C)shareholders.
D)customers.
E)other departments.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
26
The Transition is a 19-foot, two-seater road able light-sport aircraft with an anticipated price of US $148,000.The most likely prospective customers for this flying car include

A)students interested in science fiction.
B)retired seniors receiving social security.
C)executives for whom time is extremely important.
D)teens who like to try new things.
E)all of the people above are prospective customers of the Transition; no one group is more likely than another.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
27
The first objective in marketing is to discover the __________ of prospective customers.

A)diversity
B)potential
C)objectives
D)needs
E)inconsistencies
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
28
New-product experts generally estimate that up to __________ percent of the more than 33,000 new consumable products introduced in the United States annually "don't succeed in the long run."

A)33
B)50
C)75
D)80
E)94
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
29
The two central concerns of marketing are

A)establishing market share and making profits.
B)holding down costs and increasing profits.
C)finding customers and making profits.
D)discovering and satisfying needs.
E)discovering new products and bringing them to the marketplace.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
30
The American Red Cross created a series of advertisements encouraging viewers to donate blood.After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood.Amanda returned home feeling happy that she had performed a good deed.Was this a marketing exchange?

A)Yes, because the Red Cross ran a formal advertisement
B)Yes, because the donated blood was exchanged for a feeling of satisfaction
C)No, because the Red Cross is a non-profit organization
D)No, because no money was exchanged
E)No, because the Red Cross did not provide Amanda with a product
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
31
Which of the following statements about marketing departments is most accurate?

A)It is the responsibility of the personnel department to facilitate relationships with the organization's customers; thus the marketing department should work solely within its own department.
B)It is the responsibility of the marketing to suggest where a firm should invest its money, based on their knowledge of the market and environmental forces.
C)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.
D)The marketing department is not responsible for establishing alliances with the organization's shareholders and other organizations; it is only responsible for the 4Ps.
E)The marketing department is responsible for market research, supervision of product construction, and final promotion of the product.All other tasks are the responsibility of other departments such as the finance department, human resources, and information management.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
32
Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange.To marketing people exchange refers to the

A)negotiation phase between the manufacturer and the seller.
B)financial remuneration (monetary payment) for an item or service.
C)trade of things of value between buyer and seller so that each is better off after the trade.
D)bartering of goods and services for other goods and services of greater or equal value.
E)acquisition of something of value that equals or exceeds the customer's expectations.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
33
Which of the following statements about marketing departments is most accurate?

A)It is the responsibility of the personnel department to facilitate relationships with the organization's customers; thus the marketing department should work solely within its own department.
B)It is the responsibility of the marketing to suggest where a firm should invest its money, based on their knowledge of the market and environmental forces.
C)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.
D)The marketing department is not responsible for establishing alliances with the organization's shareholders and other organizations; it is only responsible for the 4Ps.
E)The marketing department is responsible for market research, supervision of product construction, and final promotion of the product.All other tasks are the responsibility of other departments such as the finance department, human resources, and information management.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
34
FIGURE 1-1 <strong>FIGURE 1-1   In Figure 1-1 above, A represents a firm's alliances with</strong> A)suppliers. B)customers. C)shareholders. D)other departments. E)other organizations.
In Figure 1-1 above, "A" represents a firm's alliances with

A)suppliers.
B)customers.
C)shareholders.
D)other departments.
E)other organizations.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
35
FIGURE 1-1 <strong>FIGURE 1-1   As shown in Figure 1-1 above, the marketing department of an organization is responsible for facilitating relationships, partnerships, and __________.</strong> A)healthy competition with other product manufacturers B)financial contracts with banks and other lending institutions C)alliances with the organization's customers, its shareholders, its suppliers, and other organizations D)alliances with firms with non-competitive products but similar target markets E)networks with advertising, publicity, and other public relations firms
As shown in Figure 1-1 above, the marketing department of an organization is responsible for facilitating relationships, partnerships, and __________.

A)healthy competition with other product manufacturers
B)financial contracts with banks and other lending institutions
C)alliances with the organization's customers, its shareholders, its suppliers, and other organizations
D)alliances with firms with non-competitive products but similar target markets
E)networks with advertising, publicity, and other public relations firms
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
36
FIGURE 1-1 <strong>FIGURE 1-1   As shown in Figure 1-1 above, the __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, its shareholders, its suppliers, and other organizations.</strong> A)purchasing B)marketing C)human resources D)accounting E)information systems
As shown in Figure 1-1 above, the __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, its shareholders, its suppliers, and other organizations.

A)purchasing
B)marketing
C)human resources
D)accounting
E)information systems
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
37
A local college of business offers an outstanding business school education.Cali pays the tuition to attend and earns her MBA with a concentration in Supply Chain Management.Upon graduating, she is offered a high paying, fulfilling position.Was this a marketing exchange?

A)No, because the university made a profit from Cali's tuition through the entire time she was in school and will most likely receive additional funds from Cali as an alumnus.
B)No, because money was exchanged in the form of tuition and Cali' income will come from her employer, not her graduate school.
C)No, because the school did not provide Cali with a tangible product, only the potential of an education.
D)Yes, because the university promised Cali she would graduate on time and she did.
E)Yes, because paying tuition was exchanged for knowledge that directly led to Cali's fulfilling, new job.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
38
A company designs and sells high quality baseball gloves.Who would benefit the least if the firm implements a quality marketing program?

A)A baseball player who purchases a new glove (regardless of how good a player).
B)The salesperson who sold the baseball player the glove.
C)The supplier who provided the leather for manufacturing.
D)The shareholders of the firm that design and manufacture the glove.
E)No one should benefit "least." There should be benefit to all of the people or organizations listed above; even society benefit.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
39
A church has put advertisements in its weekly bulletins to encourage its members to participate in the services by reading.Jack volunteered and read during a service.He felt satisfied and felt he was contributing to his church.Was this a marketing exchange?

A)Yes, because the church ran an advertisement
B)Yes, because reading at the service was exchanged for a feeling of satisfaction
C)No, because the church is a non-profit organization
D)No, because no money was exchanged
E)No, because the church did not provide Jack with a tangible product
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
40
Exchange refers to

A)the trade of things of value between buyer and seller so that each is better off after the trade.
B)the replacement of one product for another product of equal or greater value, as compensation for a product that failed to meet expectations.
C)the proffering of money, whether in the form of cash, check, or credit card, for a product or service at the time of purchase.
D)a legally binding agreement to purchase a product or service allowing for a grace period of three days during which the contract can be dissolved without penalty.
E)an international agency with the responsibility of determining relative values for currency throughout the world, on a daily basis; also referred to as the foreign exchange rate.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
41
According to Robert M.McMath, when should a marketer make a careful study of product failures?

A)After a new product has failed to meet sales predictions
B)When preparing to launch a new product
C)When repositioning a well-known brand
D)When looking for a new market for an existing product
E)When considering new channels of distribution
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
42
To avoid new-product failure, Robert M.McMath, a new-product expert, suggests

A)implementing a regional rather than a nationwide rollout of the product.
B)a thorough examination of similar products that have had a higher than anticipated success.
C)focusing on customer benefits and learning from the past.
D)spending as much of the budget as possible on new product production.
E)releasing several different prototypes at the same time to see which is most successful.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
43
Market refers to

A)people with a need and a want for a product.
B)organizations with the need and desire for an offering.
C)organizations with products which satisfy people's needs and wants.
D)people with the desire and ability to buy a specific offering.
E)people with the desire and the need for a product.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
44
If you followed the suggestions of Robert M.McMath, which answer provides the best advice for a marketer preparing to launch a new consumer health beverage?

A)Give the product a scientific sounding name that explains all of its benefits.
B)Give the product a mysterious name that is unrelated to the product's benefits but provokes consumer curiosity.
C)Initiate a campaign against beverage sweetened with corn syrup.
D)Create unusual packaging that has special shelving requirements.
E)Focus on what the customer benefit is, and learn from the past.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
45
The most likely market for cosmetic dentistry (which can cost $15,000 for straightening and whitening) is

A)children with crooked teeth, when crooked teeth runs 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 that has ever had any plastic surgery.
E)adults who rely on making a good first impression for job success.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
46
People with the desire and ability to buy a specific offering are referred to as a(n) __________.

A)market
B)interest group
C)customer pool
D)customer cluster
E)focus group
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
47
A want refers to

A)a sense of personal inadequacy based upon observations by others around you.
B)a sense of urgency which causes a person to take action even though it may put him in peril.
C)a felt need that is shaped by a person's knowledge, culture, or individual personality.
D)a feeling of being physiologically deprived of something, but not fully understanding what "it" may be.
E)a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
48
All markets ultimately are composed of __________.

A)people
B)brands
C)products
D)organizations
E)reference groups
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
49
Marketing discovers consumer needs by

A)implementing a marketing program.
B)balancing the elements of the 4 Ps.
C)using extensive preliminary research.
D)advertising to diverse groups of potential buyers.
E)analyzing the marketing strategies of its primary competitors.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
50
Market refers to

A)people united by a similar need or desire 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 commodities.
D)a physical edifice, whether temporary, rented, leased, or permanent, that offers both a place to show one's wares and the materials necessary to complete an exchange.
E)a location either permanent or temporary used to safely store or display merchandise of a specific form or type.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
51
A __________ is a need that is shaped by a person's knowledge, culture, and personality.

A)satisfaction
B)desire
C)want
D)utility
E)fulfillment
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
52
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.
D)a sudden loss of financial backing even though the item is in production.
E)a situation where a competitor's product suddenly beats a firm's new product to the marketplace.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
53
People with both the desire and ability to buy a specific offering are referred to as a __________.

A)customer pool
B)customer base
C)market
D)sales set
E)target segment
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
54
Which of the following statements best defines needs and wants?

A)Needs are far more influential in marketing decision making than wants are.
B)Wants affect marketing decisions primarily on planned purchases, while needs affect marketing decisions primarily on spontaneous purchases.
C)Wants occur when a person feels physiologically deprived of something and needs are determined by a person's knowledge, culture, or personality.
D)Needs occur when a person feels physiologically deprived of something, and wants are determined by a person's knowledge, culture, or personality.
E)Needs and wants are exactly the same; they are both easily manipulated.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
55
A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst.The refrigerator offers the youngsters many alternatives-soft drinks, fruit drinks, sport drinks, and bottles of Sunny Delight drinks.The ad, which shows the teens happily selecting Sunny Delight over all the other product offerings, appeals to the consumers' __________ for liquid and attempts to shape consumers' __________ for the advertised product.

A)wants; needs
B)wants; desire
C)desire; needs
D)needs; wants
E)needs; preferences
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
56
A need refers to

A)a sense of personal inadequacy based upon observations by others around you.
B)a sense of urgency which causes a person to take action even though it may put him in peril.
C)a feeling that is shaped by a person's knowledge, culture, or individual personality.
D)a feeling of being physiologically deprived of something, but not fully understanding what "it" may be.
E)a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
57
In Figure 1-2 above, section "A" represents __________ and section "B" represents __________.

A)owners, shareholders, department heads; suppliers, distributors, retailers
B)manufacturers; product prototypes, market testing, sales
C)marketing department supervisors; department employees and outsourced firms
D)manufacturers; suppliers, distributors, retailers, and customers
E)the process of discovering consumer needs; the process of satisfying consumer needs by designing a marketing program having the right combination of product, price, promotion, and place
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
58
Target market refers to

A)all people who purchase a product regardless who ultimately uses it.
B)one or more specific groups of potential consumers toward which an organization directs its marketing program.
C)potential customers who are currently using competitors' products.
D)the group of potential consumers who are willing and able to pay the highest possible price for a given product.
E)the group of potential consumers who are not yet aware of a company's product but who might benefit from its use.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
59
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)requirement
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
60
A factor that might doom a product is referred to as a(n) __________.

A)albatross
B)monkey wrench
C)showstopper
D)loose cannon
E)wild card
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
61
Which of the following groups would be the least likely target market for a company producing canned foods in single serving sizes?

A)Single adults
B)School kitchens
C)Campers
D)Senior citizens
E)Vending machine owners
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
62
The element of the marketing mix that describes a good, service, or idea to satisfy the consumer's need is

A)product.
B)price.
C)promotion.
D)place.
E)process.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
63
The element of the marketing mix that describes a means of getting the product to the consumer is

A)promotion.
B)price.
C)product.
D)place.
E)process.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
64
One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

A)mass market.
B)tangential market.
C)market aggregation.
D)target market.
E)promotional market.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
65
A local university offers business courses for a specific target market composed of people who currently work, who want to take refresher courses, or work towards a higher degree.Which of the following 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 in the local newspaper.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
66
TUMI brand briefcases are very expensive, high-end briefcases, generally sold in specialty luggage shops.Which of the following groups would be the most likely target market for TUMI brand briefcases?

A)Police officers
B)Executives
C)Construction workers
D)Postal workers
E)Students
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
67
Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&Ms® brand candies?

A)Product
B)Price
C)Promotion
D)Place
E)Production
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
68
Which of the following 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 in the Indianapolis and surrounding areas interested in football
B)All people in the Midwest who have an interest in sports
C)All men who played on a varsity sports team in high school
D)All people with an interest in professional football
E)All people in Indiana who watch professional football on TV
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
69
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese.Some versions contain Capri Sun drinks.Others are called "Cracker Stackers" and "Fun Fuel".The box is bright yellow and the quantity of food contained within is small.The target market for Kraft Lunchables is most likely

A)moms of school-age children packing a simple healthy lunch.
B)business people looking for a quick snack.
C)business travelers on the run.
D)teenagers who are hungry right after school.
E)baby boomers who are trying to lose weight.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
70
Target market refers to

A)consumers who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
B)consumers and potential consumers who have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
C)one or more specific groups of potential consumers toward which an organization directs its marketing program to the exclusion of other potential customers.
D)one or more specific groups of 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.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
71
The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

A)Product
B)Price
C)Promotion
D)Place
E)Process
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
72
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets.This statement deals with which part of the marketing mix?

A)Product
B)Process
C)Price
D)Place
E)Target markets
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
73
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market.Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

A)product
B)price
C)promotion
D)place
E)production
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
74
The element of the marketing mix that describes what is exchanged for a product is

A)procedure.
B)place.
C)promotion.
D)product.
E)price.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
75
To attend the winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door.This statement is most closely related to the __________ element of the marketing mix.

A)product
B)philanthropy
C)price
D)place
E)promotion
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
76
The element of the marketing mix demonstrated when a company places an ad in the Yellow Pages is __________.

A)product
B)price
C)promotion
D)place
E)process
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
77
The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is __________.

A)product
B)price
C)promotion
D)place
E)procurement
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
78
The United States Army has recently been both praised and criticized for its use of a popular video game-America's Army designed to reach potential recruits.The game's creator Col.Casey Wardynski wanted to provide a sense of the training and teamwork one could find in the military environment.The game is designed for "boys 14 years or older;" these players represent the Army's __________.

A)mass market
B)counter-market
C)restricted market
D)target market
E)untapped market
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
79
The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

A)product
B)price
C)promotion
D)place
E)philanthropy
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
80
The element of the marketing mix that describes a means of communication between the seller and buyer is

A)place.
B)promotion.
C)price.
D)product.
E)progression.
Unlock Deck
Unlock for access to all 233 flashcards in this deck.
Unlock Deck
k this deck
locked card icon
Unlock Deck
Unlock for access to all 233 flashcards in this deck.