Question 1

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Accepted Answer

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

Question 2

Showstoppers refer to

Accepted Answer

A) creative or innovative members of a marketing team. 
B) unexpected alternative uses for a product that result in a sudden increase in sales. 
C) factors that might doom a product in the marketplace. 
D) a sudden loss of financial backing even though the item is in production. 
E) a situation when a competitor's product suddenly beats a firm's new product to the marketplace.

Question 3

The __________ element of the marketing mix is demonstrated when a newspaper carrier throws a paper on the customer's front porch.

Accepted Answer

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

Question 4

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Accepted Answer

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

Question 5

What is the marketing term for people, whether they are 80 years or 8 months old, who use products and services purchased for a household?

Accepted Answer

A) ultimate consumers 
B) situational buyers 
C) primary buyers 
D) a target market 
E) household prospects

Question 6

At the 2014 Clinton Global Initiative, PepsiCo and Coca-Cola announced an agreement to reduce the calorie content of their products by 20 percent before 2025. The new cola from Pepsi-Cola is sweetened with a combination of sugar and stevia leaf extract, resulting in a soft drink with the same flavor of Pepsi but only 60 calories. A potential showstopper for this product is likely to be

Accepted Answer

A) a lack of advertising on television. 
B) in the past, mid-calorie soft drinks such as Pepsi Next (2012) have not been successful. 
C) a lower profit margin due to the added costs of expensive ingredients. 
D) cannibalization of the company's existing sodas. 
E) the use of a combination of sugar and stevia leaf instead.

Question 7

An organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value is said to have a(n)

Accepted Answer

A) product orientation. 
B) macroeconomic orientation. 
C) market orientation. 
D) industry orientation. 
E) societal marketing orientation.

Question 8

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

Accepted Answer

A) Anticipate the future five years out in terms of product form, ingredients, and packaging-to invent the "toothpaste of tomorrow!" 
B) Give the product a mysterious name that is unrelated to the product's benefits but instead provokes consumer curiosity. 
C) Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay. 
D) Create unusual packaging that has special shelving requirements. 
E) Study past toothpaste product failures and learn from them.

Question 9

The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as

Accepted Answer

A) the 5 Fs of marketing. 
B) environmental forces. 
C) business conditions. 
D) a marketing ecosystem. 
E) a business sphere.

Question 10

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 11

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except

Accepted Answer

A) sponsor U.S. Olympic and Paralympic teams. 
B) price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share. 
C) use Facebook, YouTube, and other social media to promote Chobani yogurt. 
D) rely on word of mouth to reach new customers. 
E) air a Super Bowl commercial featuring a "yogurt bear."

Question 12

The process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create __________ utility.

Accepted Answer

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

Question 13

Environmental forces refer to

Accepted Answer

A) the internal strengths of a company that enable the firm to remain competitive. 
B) the marketing manager's uncontrollable factors-product, price, promotion, and place-that can be used to solve marketing problems. 
C) the unpredictable or uncontrollable availability of natural resources that can enhance or restrain a company's growth. 
D) the marketing manager's uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces. 
E) the marketing manager's controllable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces.

Question 14

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves. Customers appreciate this superior product (they don't rust or scratch) and like the fact that their purchase is environmentally responsible, making this an example of

Accepted Answer

A) the societal marketing concept. 
B) the marketing concept. 
C) consumerism. 
D) target markets. 
E) capitalism.

Question 15

A church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief, positive story about how fellow members have helped them during times of need. Jack volunteered and shared his story during a service. Afterward, he felt joyous. Was this an exchange in a marketing sense?

Accepted Answer

A) Yes, because the church ran an advertisement, a marketing activity. 
B) No, because the church is nonprofit organization and these actions are expected without any expectation of "exchange." 
C) No, because no money was exchanged. 
D) Yes, because sharing his story at a service was exchanged for a feeling of joy. 
E) No, because the church did not provide Jack with a tangible product or service.

Question 16

Market segments refer to

Accepted Answer

A) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process. 
B) all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future. 
C) the smallest number of buyers that have similar needs but do not react similarly in a buying situation. 
D) the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action. 
E) all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Question 17

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) marketing strategy. 
B) macromarketing agenda. 
C) micromarketing agenda. 
D) marketing program. 
E) marketing concept.

Question 18

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...

Question 19

The 3M Post-it Flag Highlighter and Pen marketing programs were designed for what primary objective?

Accepted Answer

A) the initial launch of two new 3M products 
B) specific promotions to be used for long-range strategies 
C) segmenting the market into 12 specific target market segments 
D) marketing 3M products to foreign markets 
E) positioning the products relative to major competitors

Question 20

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

Accepted Answer

A) Relationship marketing has a short-term focus: increasing profits for the firm. 
B) Relationship marketing begins before and ends after the sale. 
C) Relationship marketing occurs when there is a personal, ongoing relationship between an organization and its customers. 
D) Very few companies today are engaged in relationship marketing. 
E) The Internet has allowed marketers to establish more personal relationships with customers.

Exam 1: Creating Customer Relationships and Value Through Marketing