Question 1

Which element of the marketing mix is most relevant to the activity "creating value"?

Accepted Answer

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

Question 2

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing.

Accepted Answer

A) B2C; B2B 
B) B2C; C2C 
C) B2B; B2C 
D) B2B; C2C 
E) C2C; B2C

Question 3

As owner of a retail franchise food store, Bailey purchases supplies based on specials advertised nationally throughout the franchise system. Last Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to live up to the value-driven activity of

Accepted Answer

A) sharing information across the organization. 
B) balancing customers' benefits and costs. 
C) evaluating strategic competitive partnerships. 
D) building relationships with customers. 
E) keeping prices below those charged by competitors.

Question 4

As your first assignment in an advertising agency, your manager asks you to come up with messages for three billboards promoting the university you attended. The manager wants one ad for each of the three types of promotion objectives. Create an example of a one-sentence billboard advertising message for each objective: inform, persuade, and remind.

Accepted Answer

The answer of As your first assignment in an advertising...

Question 5

If a firm adopts a CRM business philosophy, it most likely has a(n)________ orientation with its customers.

Accepted Answer

A) transactional 
B) external 
C) relational 
D) internal 
E) divisional

Question 6

Marketing channel management is related to which of the four Ps?

Accepted Answer

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

Question 7

Jorge uses a database software system to remind him when his customers should be ready to reorder his industrial cleaning products. With this reminder system, Jorge contacts his customers when they are most likely to be "in the buying mode." Jorge's system is an example of

Accepted Answer

A) C2C marketing. 
B) customer relationship management. 
C) a transactional marketing orientation. 
D) supply chain management. 
E) typical production era marketing practices.

Question 8

The manager of a restaurant supply company determined prices by adding a standard markup to her costs. What might the manager be missing when it comes to effective pricing decisions?

Accepted Answer

The answer of The manager of a restaurant supply company...

Question 9

What is the fundamental purpose of marketing?

Accepted Answer

The answer of What is the fundamental purpose of marketing?...

Question 10

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to

Accepted Answer

A) communicating the value proposition. 
B) managing the supply chain. 
C) performing service marketing. 
D) capturing value. 
E) managing price and performance.

Question 11

Marketing analytics is one tool marketers can use to become more value driven.

Accepted Answer

A) True 
 B)False

Question 12

How does the exchange of ideas provide value, and what is the role of marketing in this process? Explain this using the example in the text of groups marketing bicycle helmets, or choose your own scenario.

Accepted Answer

The answer of How does the exchange of ideas provide...

Question 13

Companies have turned to social media for marketing products and there is still huge growth potential in this area considering that _____ of the world's population currently uses Facebook.

Accepted Answer

A) 80 percent 
B) 5 percent 
C) 45 percent 
D) 20 percent 
E) nearly 100 percent

Question 14

Today, marketers embrace technologies to help them connect to their customers.

Accepted Answer

A) True 
 B)False

Question 15

Michaela is an organizational expert. Whenever she works with a new client, she always invites the client to join her e-mail distribution list. In this marketing exchange, the client's e-mail address represents

Accepted Answer

A) information. 
B) promotional capital. 
C) pricing data. 
D) value cocreation. 
E) services.

Question 16

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

Accepted Answer

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

Question 17

The "Milk Life" advertising campaign, designed to increase awareness of the health benefits of milk, was intended to help market a(n)

Accepted Answer

A) service. 
B) firm. 
C) industry. 
D) organization. 
E) specific product.

Question 18

For marketers, "exchange," refers to

Accepted Answer

A) the location where products and services are traded. 
B) the price charged, adjusted for currency exchange rates. 
C) location-based tactics for creating value. 
D) promotional offers designed to stimulate barter. 
E) the trading of things of value.

Question 19

Parul went shopping at the mall and bought a dress from a retail store. Which type of transaction was Parul participating in?

Accepted Answer

A) B2B 
B) C2C 
C) B2C 
D) R2C 
E) C2B

Question 20

Whole House Supply is a catalog company that creates special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. Whole House Supply is using

Accepted Answer

A) C2C marketing. 
B) customer relationship management. 
C) a transactional marketing orientation. 
D) supply chain management. 
E) typical production-oriented era marketing practices.

Exam 1: Overview of Marketing