Question 1

A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.

Accepted Answer

A)   the selling orientation
B)   the production orientation
C)   total quality management
D)   sustainability
E)   return on investment D

Question 2

Alcoholism and cigarette smoking are both examples of ________.

Accepted Answer

A)   anticonsumption behaviors
B)   "bait-and-switch" behaviors
C)   consumer addictions
D)   shrinkage
E)   consumed consumer behaviors C

Question 3

Which of the following is part of the product element of the marketing mix?

Accepted Answer

A)   a quality discount
B)   a store coupon
C)   a newspaper advertisement
D)   the packaging
E)   publicity releases D

Question 4

Which of the following is a true statement about the Four Ps of the marketing mix?

Accepted Answer

A)   A decision about one of the Ps affects every other marketing-mix decision.
B)   Price is always the most important of the Four Ps.
C)   Place is typically the least important of the Four Ps.
D)   The Four Ps have little effect on a product's market position.
E)   The Four Ps are used to determine a product's target market.

Question 5

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Accepted Answer

A) True 
 B)False

Question 6

Marketing communication is also referred to as ________.

Accepted Answer

A)   production
B)   selling orientation
C)   societal marketing
D)   exchange
E)   promotion

Question 7

Jack provides heating and air conditioning equipment for office buildings. He sells ________.

Accepted Answer

A)   distributive goods
B)   consumer services
C)   consumer goods
D)   industrial goods
E)   intangible goods

Question 8

Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a house. This free use of a moving truck is an example of ________.

Accepted Answer

A)   a benefit
B)   a demand
C)   business-to-business marketing
D)   a need
E)   the rentrepreneur trend

Question 9

Explain the concept of business-to-business marketing and give an example of a business-to-business transaction.

Accepted Answer

The answer of Explain the concept of business-to-business marketing and...

Question 10

Explain why it is often difficult to measure the value of marketing activities.

Accepted Answer

The answer of Explain why it is often difficult to...

Question 11

The terms market segment and target market represent the same concept.

Accepted Answer

A) True 
 B)False

Question 12

Very little of the online action in e-commerce is in business-to-business marketing.

Accepted Answer

A) True 
 B)False

Question 13

Can a consumer of a product be a stakeholder in the company that markets the product? Briefly explain your answer.

Accepted Answer

The answer of Can a consumer of a product be...

Question 14

A ________ is a distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

Accepted Answer

A)   market segment
B)   popular culture
C)   mass market
D)   market mix
E)   market position

Question 15

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

Accepted Answer

A)   value chain
B)   value proposition
C)   differential benefit
D)   return on marketing investment (ROMI) 
E)   utility function

Question 16

How would an ice cream vendor create the four types of utility?

Accepted Answer

The answer of How would an ice cream vendor create...

Question 17

________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Accepted Answer

A)   Demand satisfaction
B)   Competitive advantage building
C)   Marketing
D)   Total quality management
E)   Value chain management

Question 18

There are several different sports watches for cyclists. When compared to its competitors, the Bike Nashbar watch is the least expensive. The Acumen Basic is the only one designed for older cyclists who prefer a larger display. Sports Instrument is the most comfortable of all the available watches. This describes the ________ of the three sports watches.

Accepted Answer

A)   marketing mixes
B)   mass marketing strategies
C)   positioning
D)   consumer orientations
E)   selling orientations

Question 19

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.

Accepted Answer

A)   production orientation
B)   sustainability concept
C)   selling orientation
D)   consumer orientation
E)   societal marketing concept

Question 20

When Tony rented a loft apartment where he would live for the summer, he acted as a ________.

Accepted Answer

A)   consumer
B)   shareholder
C)   producer
D)   marketer
E)   retailer

Exam 1: Welcome to the World of Marketing: Create and Deliver Value

A company that focuses on ________ is concerned with meeting present consumer needs without compromising the ability of future generations to meet their needs.

Alcoholism and cigarette smoking are both examples of ________.

Which of the following is part of the product element of the marketing mix?

Which of the following is a true statement about the Four Ps of the marketing mix?

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Marketing communication is also referred to as ________.

Jack provides heating and air conditioning equipment for office buildings. He sells ________.

Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a house. This free use of a moving truck is an example of ________.

Explain the concept of business-to-business marketing and give an example of a business-to-business transaction.

Explain why it is often difficult to measure the value of marketing activities.

The terms market segment and target market represent the same concept.

Very little of the online action in e-commerce is in business-to-business marketing.

Can a consumer of a product be a stakeholder in the company that markets the product? Briefly explain your answer.

A ________ is a distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market.

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

How would an ice cream vendor create the four types of utility?

________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing future funeral needs, so she must somehow first get their attention. Jolene's firm most likely uses the ________.

When Tony rented a loft apartment where he would live for the summer, he acted as a ________.