Question 1

Jean-Pierre is a wine distributor in the United States representing primarily European vintners (wine producers). He knows his potential market is every wine drinker in the United States, but he has limited resources to market his products. Using the ideas presented in the text, what should Jean-Pierre do as a first step when developing his marketing plan?

Accepted Answer

Marketing is about creating value for the customer. With limited resources, Jean-Pierre should attempt to identify the segments of the wine drinking market that are most likely to be interested in his products. This would probably include people who travel more, are of European heritage, and are in upper-income groups.

Question 2

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

Accepted Answer

A)   influence social norms regarding sexuality.
B)   encourage consumers to participate in product redesign.
C)   stimulate supply chain management cooperation.
D)   increase the perceived value of its products.
E)   demonstrate social responsibility. D

Question 3

Some discount stores place products in large bins, inviting consumers to spend time hunting through them to find a bargain. The price these consumers pay includes

Accepted Answer

A)   only the actual price they pay at the register.
B)   the value of their time and energy.
C)   the excitement they experience in finding an item they desire.
D)   the savings to the store of not having to display the products neatly on shelves.
E)   the time the product was full price and didn't sell. B

Question 4

Which of the following is a core aspect of marketing?

Accepted Answer

A)   satisfying as many needs as possible
B)   creating a product that everyone will want to buy
C)   setting prices lower than all competitors
D)   making product, place, promotion, and price decisions
E)   increasing the company's profit

Question 5

An organization on cycling safety visits an elementary school and gives a presentation on the importance of wearing helmets while bicycling. After listening to the presentation, which of the following actions indicates that an exchange of valuable ideas has taken place?

Accepted Answer

A)   They decide to wear helmets while bicycling.
B)   They go out to purchase new helmets.
C)   They continue to ride without wearing helmets.
D)   They service their bikes to ensure they are safe to ride.
E)   They stop riding their bicycles.

Question 6

Suppose that your university creates a position for vice president of marketing and promotes your professor to the position. What activities will the new vice president of marketing probably be involved in? Be specific.

Accepted Answer

The answer of Suppose that your university creates a position...

Question 7

Effectively managing supply chain relationships has a minimal effect on profitability.

Accepted Answer

A) True 
 B)False

Question 8

As the customer service manager for a heating and air conditioning firm, you are constantly bombarded with complaints about service people not showing up, not having the parts needed to make repairs, and being unable to quickly get the materials needed to fix things. You decide to bring in a marketing consultant to assist you with these problems. What area of marketing specialization would you look for in a marketing consultant and what recommendations would you expect to receive? Be specific; this is a heating and air conditioning firm.

Accepted Answer

The answer of As the customer service manager for a...

Question 9

Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in

Accepted Answer

A)   a traditional transactional orientation.
B)   C2C value-driven marketing.
C)   effective supply chain management.
D)   value cocreation.
E)   a virtual monopoly.

Question 10

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as

Accepted Answer

A)   an afterthought.
B)   an integral part of a business plan.
C)   an accounting function.
D)   a profit center.
E)   important only for new products.

Question 11

Janine was tired of her winter coat, so she sold it to her friend, Marissa. This is an example of ________ marketing.

Accepted Answer

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

Question 12

Data about how, when, why, where, and what people buy refers to

Accepted Answer

A)   statistics.
B)   demographics.
C)   marketing analytics.
D)   value-based marketing.
E)   relational orientation.

Question 13

In value cocreation, the customer participates in the creation of a good or service, which provides additional value to the customer.

Accepted Answer

A) True 
 B)False

Question 14

Not only does GIS technology help Starbucks determine the ideal locations for new stores, but it also enables the company to decide which kinds of stores to open. This represents what type of marketing mix decision?

Accepted Answer

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

Question 15

The marketing plan is broken down into various components-how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.

Accepted Answer

A) True 
 B)False

Question 16

Christie has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on

Accepted Answer

A)   transaction-oriented marketing.
B)   premium pricing.
C)   his seniority at the firm.
D)   special incentives from tour operators.
E)   value cocreation.

Question 17

Many U.S. companies now use social media tools for marketing purposes. Demonstrate your knowledge of social media by describing a small company and the ways you would use social media to produce, promote, place, and price your goods or services.

Accepted Answer

The answer of Many U.S. companies now use social media...

Question 18

Which of the following best represents how marketing expands firms' global presence?

Accepted Answer

A)   when companies hire employees from different backgrounds and cultures
B)   when companies manufacture and sell their products all over the world
C)   when companies see a product manufactured overseas and decide to produce it domestically
D)   when companies require their employees to learn a foreign language
E)   when companies adhere to government restrictions in overseas markets

Question 19

Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the ________ era.

Accepted Answer

A)   production-oriented
B)   sales-oriented
C)   market-oriented
D)   value-based marketing
E)   retailing-oriented

Question 20

The primary purpose of the ________ plan is to specify the marketing activities for a specific period of time.

Accepted Answer

A)   marketing
B)   business
C)   strategic
D)   organizational
E)   resource

Exam 1: Overview of Marketing

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

Some discount stores place products in large bins, inviting consumers to spend time hunting through them to find a bargain. The price these consumers pay includes

Which of the following is a core aspect of marketing?

An organization on cycling safety visits an elementary school and gives a presentation on the importance of wearing helmets while bicycling. After listening to the presentation, which of the following actions indicates that an exchange of valuable ideas has taken place?

Suppose that your university creates a position for vice president of marketing and promotes your professor to the position. What activities will the new vice president of marketing probably be involved in? Be specific.

Effectively managing supply chain relationships has a minimal effect on profitability.

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as

Janine was tired of her winter coat, so she sold it to her friend, Marissa. This is an example of ________ marketing.

Data about how, when, why, where, and what people buy refers to

In value cocreation, the customer participates in the creation of a good or service, which provides additional value to the customer.

Not only does GIS technology help Starbucks determine the ideal locations for new stores, but it also enables the company to decide which kinds of stores to open. This represents what type of marketing mix decision?

The marketing plan is broken down into various components-how the product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer.

Many U.S. companies now use social media tools for marketing purposes. Demonstrate your knowledge of social media by describing a small company and the ways you would use social media to produce, promote, place, and price your goods or services.

Which of the following best represents how marketing expands firms' global presence?

Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits associated with the different options available. He decides which products to offer and what prices to charge based on the way his customers think. Trey operates as if he were in the ________ era.

The primary purpose of the ________ plan is to specify the marketing activities for a specific period of time.