Question 1

In 1952, General Electric's annual report stated, "The concept introduces...marketing...at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Accepted Answer

A)  sustainability perspective. 
B)  age of consumerism. 
C)  sales concept. 
D)  marketing concept. 
E)  customer relationship management concept.

Question 2

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Accepted Answer

A)  administrative forces 
B)  profitability keys 
C)  stakeholder value generators 
D)  target market segments 
E)  controllable factors

Question 3

Which statement about environmental forces is most accurate?

Accepted Answer

A)  Environmental forces are almost always controllable if the marketing department correctly scans them. 
B)  An organization that incorporates the marketing concept can exert just as much influence on environmental forces as they can exert on that organization. 
C)  Environmental forces consistently result in negative outcomes for an organization. 
D)  Some environmental forces can actually enhance a firm's marketing opportunities. 
E)  Environmental forces can almost always be predicted.

Question 4

On what does an organization with a market orientation focus?

Accepted Answer

A)  on continuously collecting information about the environment, keeping abreast of competitors' actions, and using this information to create product innovation 
B)  on prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace. 
C)  on satisfying the needs of consumers while also trying to achieve its goals. 
D)  on satisfying the needs of consumers in a way that provides for society's well-being. 
E)  on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.

Question 5

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

Accepted Answer

The answer of The Apple iPhone is rated by Consumer...

Question 6

Conducting marketing research is an excellent way to address the first objective in marketing, which is to discover consumers'

Accepted Answer

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.

Question 7

In marketing, each ________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Accepted Answer

A)  market segment 
B)  demographic cluster 
C)  organizational buyer group 
D)  ultimate consumer group 
E)  qualified prospect group

Question 8

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?

Accepted Answer

A)  police officers 
B)  executives 
C)  construction workers 
D)  massage therapists 
E)  students

Question 9

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S. business history). Which statement would you most likely expect management to make if sales of this new candy bar were much lower than expected?

Accepted Answer

A)  "We'd better do some market testing to determine why people are dissatisfied." 
B)  "Perhaps we should make candy bars with raisins." 
C)  "Let's put more aggressive salespeople in the field." 
D)  "Let's lower the price and change the name." 
E)  "Don't worry about it; we're the largest candy manufacturer in the area. Sooner or later they'll get hungry enough that they'll come to us."

Question 10

All of the following are departments within a typical organization except which?

Accepted Answer

A)  finance 
B)  manufacturing 
C)  information systems 
D)  human resources 
E)  shareholders

Question 11

The ________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.

Accepted Answer

A)  purchasing 
B)  marketing 
C)  human resources 
D)  accounting 
E)  information systems

Question 12

All of the following constitute the four Ps of the marketing mix except which?

Accepted Answer

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

Question 13

Assume you are a salesperson for a direct marketing firm that does in-home jewelry parties. If most of your hosts or hostesses hold only one party a year, what strategies could you use to build strong customer relationships? If you are creating your own business for this example, make sure to describe your product(s) in your introductory sentence.

Accepted Answer

The answer of Assume you are a salesperson for a...

Question 14

Figure 1-5
- In Figure 1-5 above, "B" represents which era in U.S. business history?

Accepted Answer

A)  sales era 
B)  production era 
C)  consumerism era 
D)  marketing concept era 
E)  customer relationship era

Question 15

Which person is the best example of an organizational buyer?

Accepted Answer

A)  a college student buying paper towels in bulk for herself and her roommates 
B)  a store owner buying hand-woven tablecloths to sell in her store 
C)  a computer programmer buying the latest game for her Xbox 
D)  a botanist buying a rare rose bush for her home garden 
E)  a parent buying a softball glove for a daughter

Question 16

Figure 1-5 
-In Figure 1-5 above, "C" represents which era in U.S. business history?

Accepted Answer

A)  sales era 
B)  production era 
C)  consumerism era 
D)  marketing concept era 
E)  customer relationship era

Question 17

Which answer reflects (in this 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 iPhone, an iPad, and an Apple Watch 
E)  a toothbrush, laser teeth whitening, and dental hygiene

Question 18

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. Singapore Air creates customer value by providing its customers with

Accepted Answer

A)  the best airport experience. 
B)  the most convenient flight schedules. 
C)  the best price for the distance traveled. 
D)  the best in-flight service. 
E)  the greatest sense of personal safety.

Question 19

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase, depending on whether it was purchased by an ultimate consumer or an organizational buyer.

Accepted Answer

The answer of What are the primary differences between an...

Question 20

Why are you, as a student, already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Accepted Answer

The answer of Why are you, as a student, already...

Exam 1: Creating Customer Relationships and Value Through Marketing