Question 1

What are the three components of a person's ability to buy an offering?

Accepted Answer

The three components...

Question 2

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  processF) None of the above
G) A) and D)

Question 3

TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following groups of people would be the most likely target market for TUMI briefcases?

Accepted Answer

A)  police officers
B)  executives
C)  construction workers
D)  postal workers
E)  studentsF) A) and B)
G) A) and C)

Question 4

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 works closely with other departments and employees to help implement an organization's 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 is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.F) C) and D)
G) B) and D)

Question 5

Many companies subscribe to being "green" because they feel that consumers value this. Yet, in many of these same firms, office computers are left on 24 hours a day and office paper is not recycled. This example indicates it is not always easy for firms to act in accordance with the

Accepted Answer

A)  marketing concept.
B)  customer relationship management concept.
C)  consumerism.
D)  social entrepreneurship.
E)  cause marketing.F) All of the above
G) B) and C)

Question 6

The marketing mix refers to

Accepted Answer

A)  the multiple sales and advertising strategies that can be used to promote a product.
B)  the controllable forces-social, economic, technological, competitive, and regulatory-to which a marketing manager must constantly adapt.
C)  the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.
D)  the marketing manager's controllable factors that can be used to solve marketing problems.
E)  a set of complementary products that when sold together generate more sales than when sold separately.F) B) and E)
G) C) and E)

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

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Accepted Answer

A)  desire.
B)  need.
C)  utility.
D)  want.
E)  want or a need.F) B) and D)
G) B) and C)

Question 9

Suppose you want a snack after taking this exam. Dominos 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 communicate.F) C) and D)
G) B) and E)

Question 10

Satisfying consumer needs is accomplished by

Accepted Answer

A)  designing a marketing program.
B)  conducting marketing research.
C)  discovering consumer needs.
D)  developing a distribution strategy.
E)  identifying target markets.F) C) and D)
G) B) and E)

Question 11

Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth. You plan to sell your product on an Internet website, which you will advertise on late-night television. You are also hoping to obtain free publicity to place stories in men's fashion magazines. You are planning to sell online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling. Using the information provided, identify each element of your marketing mix.

Accepted Answer

The shampoo is the product element. The ...

Question 12

The four Ps of the marketing mix are

Accepted Answer

A)  priorities, personnel, placement, and profits.
B)  prediction, production, pricing, and promotion.
C)  product, price, production, and place.
D)  product, price, promotion, and place.
E)  predict, produce, package, and persuade.F) All of the above
G) B) and D)

Question 13

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

Accepted Answer

A)  The marketing department should work solely with people within its own department.
B)  The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces.
C)  The marketing department is only responsible for the four Ps, not the seven Ps.
D)  The marketing department is only responsible for market research, supervision of product development, and product promotion.
E)  The marketing department must work closely with other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.F) All of the above
G) A) and C)

Question 14

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Accepted Answer

A)  demographic clusters.
B)  organizational buyers.
C)  ultimate consumers.
D)  market segments.
E)  qualified prospects.F) None of the above
G) C) and E)

Question 15

A student would like to buy a cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation because

Accepted Answer

A)  two or more parties have unsatisfied needs.
B)  there is no desire on the part of either party to satisfy its needs.
C)  one of the involved parties does not have the ability to satisfy its needs.
D)  there is no way for each party to communicate with one another.
E)  there has been no assessment of consumer wants and needs.F) B) and C)
G) None of the above

Question 16

Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to

Accepted Answer

A)  the trade of things of value between buyer and seller so that each is better off after the trade.
B)  the negotiation phase between the manufacturer and the seller.
C)  the financial remuneration (monetary payment)  for a product or service.
D)  the transport of tangible goods to new owners.
E)  the practice of swapping products and services for other products and services rather than for money.F) All of the above
G) B) and C)

Question 17

The element of the marketing mix that describes a good, service, or idea to satisfy consumers' needs is known as

Accepted Answer

A)  a product.
B)  the price.
C)  promotion.
D)  the place or distribution.
E)  a market segment.F) B) and E)
G) A) and E)

Question 18

All markets ultimately are composed of

Accepted Answer

A)  people.
B)  brands.
C)  products.
D)  organizations.
E)  governments.F) C) and D)
G) A) and B)

Question 19

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.F) C) and D)
G) C) and E)

Question 20

Social responsibility is

Accepted Answer

A)  the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
B)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
C)  the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
D)  the idea that individuals and organizations are accountable to a larger society.
E)  the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.F) A) and C)
G) A) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

The element of the marketing mix that describes a good, service, or idea to satisfy consumers' needs is known as

Correct Answer
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Correct Answer
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The shampoo is the product element. The ...
View Answer

What are the three components of a person's ability to buy an offering?

Correct Answer
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The three components...
View Answer

TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following groups of people would be the most likely target market for TUMI briefcases?

Correct Answer
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The marketing mix refers to

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 statements about marketing departments is most accurate?

Correct Answer
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Satisfying consumer needs is accomplished by

Correct Answer
verified

The four Ps of the marketing mix are

Correct Answer
verified

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Correct Answer
verified

Correct Answer
verified

A student would like to buy a cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation because

Correct Answer
verified

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Correct Answer
verified

Social responsibility is

Correct Answer
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The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

Correct Answer
verified

Utility refers to

Correct Answer
verified

Many companies subscribe to being "green" because they feel that consumers value this. Yet, in many of these same firms, office computers are left on 24 hours a day and office paper is not recycled. This example indicates it is not always easy for firms to act in accordance with the

Correct Answer
verified

All markets ultimately are composed of

Correct Answer
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Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

The element of the marketing mix that describes a good, service, or idea to satisfy consumers' needs is known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThe shampoo is the product element. The ...View AnswerShow Answer

What are the three components of a person's ability to buy an offering?

Correct AnswerverifiedThe three components...View AnswerShow Answer

TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the following groups of people would be the most likely target market for TUMI briefcases?

Correct AnswerverifiedShow Answer

The marketing mix refers to

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 statements about marketing departments is most accurate?

Correct AnswerverifiedShow Answer

Satisfying consumer needs is accomplished by

Correct AnswerverifiedShow Answer

The four Ps of the marketing mix are

Correct AnswerverifiedShow Answer

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A student would like to buy a cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation because

Correct AnswerverifiedShow Answer

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Correct AnswerverifiedShow Answer

Social responsibility is

Correct AnswerverifiedShow Answer

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

Correct AnswerverifiedShow Answer

Utility refers to

Correct AnswerverifiedShow Answer

Many companies subscribe to being "green" because they feel that consumers value this. Yet, in many of these same firms, office computers are left on 24 hours a day and office paper is not recycled. This example indicates it is not always easy for firms to act in accordance with the

Correct AnswerverifiedShow Answer

All markets ultimately are composed of

Correct AnswerverifiedShow Answer

Marketing seeks to discover the needs and wants of prospective customers and satisfy them. Essential to this process is the idea of exchange, which refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified
The shampoo is the product element. The ...
View Answer

Correct Answer
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The three components...
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Correct Answer
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Correct Answer
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Correct Answer
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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
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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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Correct Answer
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Correct Answer
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Correct Answer
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