Question 1

________ responsible for establishing the organization's mission and objectives.

Accepted Answer

A)   Marketers are
B)   Suppliers are
C)   Customers are
D)   Senior management is
E)   Shareholders are

Question 2

BioFuel Energy, a Minnesota ethanol producer can turn corn into ethanol, creating ________ utility.

Accepted Answer

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

Question 3

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

A target market is a specific group of p...

Question 4

Suppose you want a snack after taking this exam. Domino's 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. What explains why marketing fails to occur between you and Domino's?

Accepted Answer

A)   There is only one party 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 communicate.

Question 5

The United Way of Greater Toronto (UWGT) , like many charities, was sitting on a gold mine of donor data. Unfortunately, UWGT was not certain how to use that information to its greatest advantage. UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT over other charities. Which tool would be most useful for the nonprofit organization to use?

Accepted Answer

A)   a flexible marketing system
B)   a database warehouse
C)   customer relationship management
D)   competitive intelligence
E)   a profit-oriented marketing program

Question 6

What would a marketer use as a synonym for the marketing mix?

Accepted Answer

A)   the four Ps of marketing
B)   environmental forces
C)   macromarketing forces
D)   marketing management factors
E)   micromarketing factors

Question 7

Explain the marketing program that 3M used to reach the student target market for the Post-it Flag Highlighter and the rationale used for each element of the marketing mix.

Accepted Answer

Answers should address all four Ps. (1) ...

Question 8

Which of the following is not an environmental force?

Accepted Answer

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

Question 9

With respect to the history of American business, today's firms operate in the ________ era as they must continuously seek to satisfy the high expectations of customers.

Accepted Answer

A)   production
B)   sales
C)   marketing concept
D)   customer relationship
E)   societal marketing

Question 10

Which of these engages in marketing? Choose the best answer.

Accepted Answer

A)   the Chicago Cubs
B)   the San Francisco Opera
C)   the City of Denver
D)   the President of the United States
E)   Every organization or individual can engage in marketing to some extent.

Question 11

Crowdsourcing has been an important method of identifying consumer needs for which of these products?

Accepted Answer

A)   Amazon Echo
B)   Pepsi True
C)   LEGO Voltron Robot
D)   Google Glass
E)   ZipCar

Question 12

A target market is defined as

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)   existing or 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 13

The marketing mix refers to

Accepted Answer

A)   the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line.
B)   the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling.
C)   the marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem.
D)   the allocation of resources within a firm toward individual marketing programs.
E)   the environmental forces-social, economic, technological, competitive, and regulatory-that impact the marketing decisions for a particular product at any given time.

Question 14

During October, kiosk or "pop-up" stores appear in many malls for the holiday season. Typically, these kiosks sell gift boxes of cheese, jewelry, and other items people think are appropriate seasonal gifts. In January, these retailers vanish. Is it possible for such a retailer to use relationship marketing? Explain your answer.

Accepted Answer

Generally, students will say "no" based ...

Question 15

The four utilities marketing creates are

Accepted Answer

A)   product, price, promotion, and place.
B)   form, function, value, and image.
C)   monopoly, monopolistic competition, pure competition, and oligopoly.
D)   form, place, time, and possession.
E)   information, persuasion, affection, recommendation.

Question 16

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 sale.
D)   a marketing program.
E)   a product.

Question 17

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

Accepted Answer

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

Question 18

With new Nutrition Fact label requirements taking effect in 2020, Coca-Cola is testing Coca-Cola Stevia which will be sweetened only with the natural ingredient stevia. A potential showstopper for this product is likely to be

Accepted Answer

A)   a lack of advertising on television.
B)   previous products with stevia sweetener had a bitter aftertaste.
C)   a lower profit margin due to the added costs of expensive ingredients.
D)   cannibalization of the company's existing sodas.
E)   pressure from the cane sugar and corn industries.

Question 19

Which statement 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 works closely with other departments and employees to implement marketing activities.
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 directs the activities of all other departments in a business.

Question 20

A skydiving experience cannot be touched like a physical object, but is still considered a product. To a marketer, this is an example of

Accepted Answer

A)   a utility.
B)   a production.
C)   a value.
D)   a service.
E)   an idea.

Exam 1: Creating Customer Relationships and Value Through Marketing

The four utilities marketing creates are

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The marketing mix refers to

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Correct Answer
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Generally, students will say "no" based ...
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What would a marketer use as a synonym for the marketing mix?

Correct Answer
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With respect to the history of American business, today's firms operate in the ________ era as they must continuously seek to satisfy the high expectations of customers.

Correct Answer
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Explain the marketing program that 3M used to reach the student target market for the Post-it Flag Highlighter and the rationale used for each element of the marketing mix.

Correct Answer
verified
Answers should address all four Ps. (1) ...
View Answer

Which of the following is not an environmental force?

Correct Answer
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When a company uses advertising on Instagram, is this tactic is part of the ________ element of the marketing mix.

Correct Answer
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A skydiving experience cannot be touched like a physical object, but is still considered a product. To a marketer, this is an example of

Correct Answer
verified

Correct Answer
verified

Crowdsourcing has been an important method of identifying consumer needs for which of these products?

Correct Answer
verified

A target market is defined as

Correct Answer
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________ responsible for establishing the organization's mission and objectives.

Correct Answer
verified

BioFuel Energy, a Minnesota ethanol producer can turn corn into ethanol, creating ________ utility.

Correct Answer
verified

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

Correct Answer
verified

With new Nutrition Fact label requirements taking effect in 2020, Coca-Cola is testing Coca-Cola Stevia which will be sweetened only with the natural ingredient stevia. A potential showstopper for this product is likely to be

Correct Answer
verified

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.

Correct Answer
verified
A target market is a specific group of p...
View Answer

Which of these engages in marketing? Choose the best answer.

Correct Answer
verified

Which statement about marketing activities is most accurate?

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

The four utilities marketing creates are

Correct AnswerverifiedShow Answer

The marketing mix refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedGenerally, students will say "no" based ...View AnswerShow Answer

What would a marketer use as a synonym for the marketing mix?

Correct AnswerverifiedShow Answer

With respect to the history of American business, today's firms operate in the ________ era as they must continuously seek to satisfy the high expectations of customers.

Correct AnswerverifiedShow Answer

Explain the marketing program that 3M used to reach the student target market for the Post-it Flag Highlighter and the rationale used for each element of the marketing mix.

Correct AnswerverifiedAnswers should address all four Ps. (1) ...View AnswerShow Answer

Which of the following is not an environmental force?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A skydiving experience cannot be touched like a physical object, but is still considered a product. To a marketer, this is an example of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Crowdsourcing has been an important method of identifying consumer needs for which of these products?

Correct AnswerverifiedShow Answer

A target market is defined as

Correct AnswerverifiedShow Answer

________ responsible for establishing the organization's mission and objectives.

Correct AnswerverifiedShow Answer

BioFuel Energy, a Minnesota ethanol producer can turn corn into ethanol, creating ________ utility.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

With new Nutrition Fact label requirements taking effect in 2020, Coca-Cola is testing Coca-Cola Stevia which will be sweetened only with the natural ingredient stevia. A potential showstopper for this product is likely to be

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedA target market is a specific group of p...View AnswerShow Answer

Which of these engages in marketing? Choose the best answer.

Correct AnswerverifiedShow Answer

Which statement about marketing activities is most accurate?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified
Generally, students will say "no" based ...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified
Answers should address all four Ps. (1) ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A target market is a specific group of p...
View Answer

Correct Answer
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Correct Answer
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