Question 1

All of the following are departments in a typical organization EXCEPT:

Accepted Answer

A) finance. 
B) manufacturing. 
C) information systems. 
D) human resources. 
E) suppliers.

Question 2

An organization's stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?

Accepted Answer

A) All are stakeholders and should benefit from the marketing of an organization's offering. 
B) Everyone has a say in the ultimate design of a product. 
C) Everyone is legally culpable if something goes wrong with a product. 
D) All have to make some type of direct financial investment in the organization so it can profitably sell its products. 
E) All use the products and/or services marketed by the organization.

Question 3

Recently, Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________, including personal attention from employees in the store.

Accepted Answer

A) customer value proposition 
B) relationship marketing 
C) customer experience 
D) internal marketing 
E) customer relationship management

Question 4

In 1952, General Electric's annual report stated, "The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Accepted Answer

A) sustainability perspective. 
B) age of consumerism. 
C) sales concept. 
D) marketing concept. 
E) customer relationship management concept.

Question 5

-Suppose you want a snack after taking this exam - a Pan Pizza from Dominos, which is located across the street from your College of Business classroom. Unfortunately, you forgot your wallet in the haste of getting to class on time to take the test. Therefore, you have no means to pay for the pizza. Which of the following reasons explain why marketing fails to occur here between you and Dominos?

Accepted Answer

A) There are not two or more parties with unsatisfied needs. 
B) The ability to satisfy a need is missing. 
C) A desire to satisfy a need is missing. 
D) No assessments of consumer wants and needs have been made. 
E) There is no way for the parties involved to communicat

Question 6

-In Figure 1-1 above, the center ring E in an organization consists of __________, which oversees the departments surrounding it.

Accepted Answer

A) marketing. 
B) manufacturing. 
C) human resources. 
D) senior management. 
E) finance

Question 7

A target market refers to

Accepted Answer

A) customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers. 
B) both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs. 
C) a specific group of current consumers toward which an organization directs its advertising. 
D) one or more specific groups of potential consumers who are seeking a product for which there are no current substitutes. 
E) one or more specific groups of potential consumers toward which an organization directs its marketing program.

Question 8

When a company places an ad on Google, 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

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as __________.

Accepted Answer

A) manufacturing 
B) advertising 
C) marketing 
D) selling 
E) promotion

Question 10

What kinds of organization engages in marketing?

Accepted Answer

A) only those that can afford to advertise 
B) only very large and established for-profit organizations 
C) only Fortune 5,000 companies 
D) every organization regardless of the kind 
E) only the organization has a profit motivation

Question 11

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

Question 12

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 13

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as a(n) __________.

Accepted Answer

A) market segment 
B) target market 
C) customer base 
D) ultimate consumer 
E) preferred customer

Question 14

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.Showstoppers are factors that might doom a product in the marketplace.

Question 15

A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Accepted Answer

A) desire 
B) feeling 
C) utility 
D) want 
E) craving

Question 16

Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making. Incorporate marketing terms in your response.

Accepted Answer

The answer of Do college students have a choice in...

Question 17

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 18

To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Accepted Answer

A) change 
B) create 
C) manipulate 
D) discover 
E) measure

Question 19

What four factors are required for marketing to occur?

Accepted Answer

The answer of What four factors are required for marketing...

Question 20

Which of the following is NOT an environmental force?

Accepted Answer

A) economic 
B) regulatory 
C) social 
D) commercial 
E) technological

Exam 1: Creating Customer Relationships and Value Through Marketing