Question 1

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each per month?

Accepted Answer

A) the profit motive since aging baby boomers are a large,profitable market 
B) the social responsibility concept 
C) the necessity of matching competitors' actions 
D) new regulatory Medicare mandates as a result of the Affordable Care Act 
E) the mandate by its industry's code of ethics

Question 2

Chobani used all of the following tactics to promote its Greek yogurt except which?

Accepted Answer

A) sponsored the Food Network's "Rachael vs.Guy: Kids Kick-Off" TV show with its Chobani Kids Pouches 
B) created a website to provide consumers with recipes that use Chobani yogurt 
C) sponsored U.S.Olympic and Paralympic Teams 
D) used social networks Facebook,Twitter,Pinterest,and Instagram 
E) relied on word of mouth in its early years

Question 3

Utility refers to

Accepted Answer

A) the number of alternative uses or benefits that can be provided by a single product or service. 
B) the adaptability of a marketing program to adjust to changes in the marketing environment. 
C) the benefits or customer value received by users of the product. 
D) the fixed costs associated with the production of a single unit of a product within a product line. 
E) the variable costs associated with the production of a single unit of a product within a product line.

Question 4

A customer value proposition is

Accepted Answer

A) the unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and both before-sale and after-sale service at a specific price. 
B) a statement that,before product development begins,identifies (1)a well-defined target market;(2)specific customers' needs,wants,and preferences;and (3)what the product will be and do to satisfy consumers. 
C) a unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation. 
D) the characteristics of a product that make it superior to competitive substitutes. 
E) the cluster of benefits that an organization promises customers to satisfy their needs.

Question 5

Which of the following 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 6

The element of the marketing mix that describes what is exchanged for a product is known as

Accepted Answer

A) a product. 
B) the price. 
C) promotion. 
D) the place or distribution. 
E) productivity.

Question 7

The process of turning corn into ethanol shows how BioFuel Energy,a Minnesota ethanol producer,can create ________ utility.

Accepted Answer

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

Question 8

When a company uses advertising on Instagram,the action is a tactic of the ________ element of the marketing mix.

Accepted Answer

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

Question 9

Ultimate consumers are

Accepted Answer

A) the people who use the products and services purchased for a household. 
B) people who have already purchased a firm's product at least once,have been satisfied,and are likely to make repeat purchases. 
C) people or organizations that have used a competitor's product and who have been dissatisfied,and who are still seeking a product or service to satisfy their needs. 
D) those manufacturers,wholesalers,retailers,and government agencies that buy goods and services for their own use or for resale. 
E) one or more specific groups of potential customers toward whom an organization directs its marketing program.

Question 10

Which of the following statements about marketing activities is most accurate?

Accepted Answer

A) Marketing is affected by society but rarely,if ever,affects society as a whole. 
B) The marketing department both shapes and is shaped by its relationship with internal and external groups. 
C) Marketing activities are the sole responsibility of the marketing department;other departments are involved only if there is an emergency (such as a product recall). 
D) Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. 
E) Marketing is essentially developing the right product and convincing potential customers that they "need" it,not just "want" it.

Question 11

In response to a growing interest in healthful,simple products among consumers,Chobani introduced

Accepted Answer

A) an Italian-style ragù sauce. 
B) a Turkish-style cottage cheese. 
C) a French-style butter. 
D) a Greek-style yogurt. 
E) an Asian-style teriyaki sauce.

Question 12

Define needs and wants.Can marketing shape a person's wants? Explain your answer.

Accepted Answer

The answer of Define needs and wants.Can marketing shape a...

Question 13

Explain Chobani's product strategy that makes Chobani yogurt different from its principal competitors.

Accepted Answer

The answer of Explain Chobani's product strategy that makes Chobani...

Question 14

List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Accepted Answer

The answer of List the five environmental forces in a...

Question 15

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 16

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 17

A good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is known as

Accepted Answer

A) a utility. 
B) an item. 
C) a service. 
D) a marketing program. 
E) a product.

Question 18

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Accepted Answer

The answer of Explain what is meant by the concept...

Question 19

An inventor designs a scissors that has interchangeable blades that allow the user to switch from straight cuts to decorative cuts.Identify two possible target markets and explain your answer.

Accepted Answer

The answer of An inventor designs a scissors that has...

Question 20

Which of the following is an example of possession utility?

Accepted Answer

A) an iPhone with a large selection of new apps 
B) the local dairy that offers to deliver bottles of milk to a customer's doorstep 
C) disposable diapers that come equipped with resealable tabs 
D) a gourmet food store that carries a line of ready-made salads 
E) a mobile phone company that offers six-month financing,same as cash

Exam 1: Creating Customer Relationships and Value Through Marketing