Question 1

Mark Zuckerberg encountered unimaginable success with his launch of "TheFacebook.com" website from his college dorm room.By the end of the second week,it had almost __________ members.

Accepted Answer

A) 100 
B) 300 
C) 500 
D) 1,000 
E) 5,000

Question 2

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

Accepted Answer

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

Question 3

Which era of U.S.business history does the following statement best describe? "We are in the business of satisfying the needs and wants of consumers while achieving our own goals."

Accepted Answer

A) the production era 
B) the sales era 
C) the marketing concept era 
D) the marketing orientation era 
E) the societal marketing era

Question 4

Many companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Accepted Answer

A) marketing concept. 
B) customer relationship management concept. 
C) consumerism. 
D) social entrepreneurship. 
E) cause marketing.

Question 5

Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth.You plan to sell your product on an Internet website,which you will advertise on late night television.You are also hoping to obtain free publicity to place stories in men's fashion magazines.You are planning to sell online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling.Using the information provided,identify each element of your marketing mix.

Accepted Answer

The answer of Imagine you have the sole marketing rights...

Question 6

Entities such as manufacturers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A) intermediate buyers. 
B) selling agents. 
C) organizational buyers. 
D) manufacturing agents. 
E) brokers.

Question 7

Shortly after World War II,Sam Jackson developed an idea for a biodegradable lubricant that was superior to anything currently on the market.He was excited about his new idea and persuaded a number of his friends to help produce samples.While demand kept up with production at first,he soon found that he had to hire a sales force to sell excess product to manufacturing companies in the area.He decided this was primarily because his company had several strong competitors that had recently come into the industry.This is an example of marketing behavior that would occur during the __________ era of U.S.business history.

Accepted Answer

A) marketing concept 
B) production 
C) goods 
D) sales 
E) societal marketing concept

Question 8

Starbucks,Nike,and Johnson & Johnson provide customer value by providing its customers with the best

Accepted Answer

A) branding. 
B) products/services. 
C) price. 
D) customer service. 
E) availability.

Question 9

All of the following are examples of products or services that satisfy a consumer need EXCEPT:

Accepted Answer

A) a pair of jeans. 
B) an apple. 
C) a student dormitory. 
D) a sports car. 
E) a jacket.

Question 10

The Terrafugia Transition is a 19-foot,two-seater road-drivable,light-sport aircraft with an anticipated price of $279,000.The most likely prospective customers for this flying car would include

Accepted Answer

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) families in need of a second vehicle.

Question 11

Explain the marketing program 3M used to reach the office worker segment with its Post-it Flag Pen.

Accepted Answer

The answer of Explain the marketing program 3M used to...

Question 12

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

Accepted Answer

A) a prospective customer. 
B) the primary marketing decision maker. 
C) a potential distributor. 
D) an informed buyer. 
E) an end-user.

Question 13

The four utilities marketing creates are

Accepted Answer

A) product,price,promotion,and place. 
B) form,function,value,and people. 
C) monopoly,monopolistic competition,pure competition,and oligopoly. 
D) form,place,time,and possession. 
E) natural gas,fossil fuel,electricity,and water.

Question 14

Which answer reflects (in order)a good,a service,and an idea that can be marketed?

Accepted Answer

A) a candy bar,a wastepaper basket,and a vending machine 
B) a CD,a concert,and a souvenir T-shirt 
C) a political candidate,democracy,and freedom 
D) an iPod,an iPhone,and an iPad 
E) a toothbrush,laser teeth whitening,and dental hygiene

Question 15

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

Accepted Answer

The answer of In China,many people are removing their money...

Question 16

The benefits or customer value received by users of a product is called __________.

Accepted Answer

A) utility 
B) synergy 
C) consumerism 
D) cost-benefit ratio 
E) customer lifetime value

Question 17

The unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price is called

Accepted Answer

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

Question 18

The marketing department of an organization is responsible for facilitating __________.

Accepted Answer

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 non-competitive products that target similar markets 
E) coordination between the various departments within the entire firm

Question 19

Which of the following is NOT 
an environmental force?

Accepted Answer

A) economic 
B) commercial 
C) social 
D) regulatory 
E) technological

Question 20

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a(n)__________.

Accepted Answer

A) core benefit proposal 
B) product protocol 
C) marketing program 
D) customer value 
E) customer value proposition

Exam 1: Creating Customer Relationships and Value Through Marketing