Question 1

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?

Accepted Answer

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.

Question 2

The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is

Accepted Answer

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

Question 3

The value to consumers that comes from the production of a product or service constitutes ________ utility.

Accepted Answer

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

Question 4

Dick's Sporting Goods carries baseballs year-round. The same is true for footballs and tennis equipment. With this strategy, Dick's Sporting Goods offers __________ utility for these products.

Accepted Answer

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

Question 5

All of the following are points of difference for Chobani yogurt except which?

Accepted Answer

A)  It uses a shorter, wider cup that is more visible on retailers' shelves. 
B)  It is preservative-free. 
C)  It is higher in protein than regular yogurt. 
D)  It uses a proprietary animal-based thickener. 
E)  It uses a straining process that removes excess liquid whey.

Question 6

Which of these is an example of time utility?

Accepted Answer

A)  an iPhone with a "multitouch" user interface for easy navigation 
B)  Goodwill's 24-hour drop-off box for clothing donations 
C)  a dry cleaner located inside a supermarket 
D)  a mobile phone company that offers six-month financing, same as cash 
E)  a new herbal supplement that offers a 30-day free trial

Question 7

Twitter is a social networking service, enabling its users to send and read other users' messages or conversations called tweets, which are short, text-based posts, or tweets, displayed on the user's profile page. Connected to each tweet is a rich details pane that provides additional information, deeper context, and embedded media. Companies are using Twitter as a tool in their relationship marketing programs. In what ways can Twitter be used to benefit both the customer and the organization?

Accepted Answer

The answer of Twitter is a social networking service, enabling...

Question 8

Add your own personal experience and creativity to what you have learned about marketing. What are some ways you might assess the needs of either (1) students who have too many textbooks to carry to and from class or (2) executives who are too busy to keep up with the latest information in their field?

Accepted Answer

The answer of Add your own personal experience and creativity...

Question 9

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel. Once he has accumulated enough points, he can trade in his points for a free night's stay. As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points. The marketing term that best describes this scenario is

Accepted Answer

A)  relationship marketing. 
B)  customer satisfaction promotion. 
C)  customer segmentation. 
D)  customer valuation. 
E)  supplier-consumer partnership.

Question 10

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

Accepted Answer

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

Question 11

The ________ concept means that an organization strives to satisfy consumer needs while achieving its goals.

Accepted Answer

A)  marketing 
B)  sales 
C)  production 
D)  societal benefit 
E)  customer relationship

Question 12

From its inception, where did Chobani want to place its yogurt?

Accepted Answer

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

Question 13

At the BMW website, BMW.com, you can design your own BMW with the exact features you desire. If you choose to use this method to purchase a car, what type of utility(ies) has(have) been created?

Accepted Answer

The answer of At the BMW website, BMW.com, you can...

Question 14

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

Accepted Answer

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.

Question 15

All of the following are examples of ideas that can be marketed except which?

Accepted Answer

A)  state governments in Arizona and Florida marketing the notion of taking a warm, sunny winter vacation in their states 
B)  Apple using a TV ad to explain the features of an iPad mini (camera, screen resolution, user interface, etc.) 
C)  the Nature Conservancy marketing the cause of protecting the environment 
D)  conservative politicians who attempt to persuade voters of the need to slash government spending to reduce a large national deficit 
E)  charities like the Red Cross marketing the idea that it's worthwhile for you to donate your time or money to its relief efforts

Question 16

Studies of new product launches indicate that about __________ percent of the products fail.

Accepted Answer

A)  33 
B)  40 
C)  67 
D)  75 
E)  90

Question 17

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 18

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

Accepted Answer

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

Question 19

The best description of the market for cosmetic dentistry, where costs can be as much as $15,000 for teeth straightening and whitening, is

Accepted Answer

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.

Question 20

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Accepted Answer

A)  mission statement. 
B)  macromarketing agenda. 
C)  micromarketing agenda. 
D)  marketing program. 
E)  marketing concept.

Exam 1: Creating Customer Relationships and Value Through Marketing