Question 1

A local university offers business courses for a target market of people who currently work and want to take refresher courses for certification in their business field (marketing, accounting, etc.) . Which of the following would be the most effective way to communicate with the target market, bearing in mind that communication must be both effective and economical?

Accepted Answer

A)  Put announcements on campus bulletin boards.
B)  Distribute promotional materials during classes.
C)  Advertise on national television.
D)  Advertise on local hip-hop radio shows.
E)  Advertise in the local newspaper.F) A) and E)
G) A) and B)

Question 2

Organizational buyers are described as

Accepted Answer

A)  only companies that purchase raw materials and natural resources for manufacturing.
B)  employees who purchase household items for their personal use.
C)  any individual or group making a purchase worth over $100,000.
D)  manufacturers, retailers, or government agencies that buy products for their own use or for resale.
E)  any organization that uses products purchased or meant for a household.F) C) and D)
G) A) and B)

Question 3

A college student is taking a full course load, working 20 hours per week, and still has to take out a student loan to cover tuition. One day, he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000)  and feels he just has to have one for himself. What factor is most likely to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?

Accepted Answer

A)  The local Lexus dealer only has one Lexus LFA sports coupe in stock-red, which is the color he wants.
B)  The student does not have the resources to qualify for a $375,000 auto loan.
C)  Although the Lexus LFA sports coupe is a great car, there may be other cars with better gas mileage and resale value.
D)  He's afraid that if someone at school sees him with the car, he might lose his student loan.
E)  His girlfriend wants him to drive a Kia Soul.F) B) and D)
G) A) and E)

Question 4

Which of the following is an example of time utility?

Accepted Answer

A)  an iPhone with a "multi-touch" 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 trialF) B) and C)
G) D) and E)

Question 5

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Accepted Answer

A)  all people with an interest in professional football
B)  all people in the Midwest who have an interest in sports
C)  all men who played on a varsity football team in high school
D)  all people in the Indianapolis and surrounding areas interested in football
E)  all people in Indiana who watch football on TVF) A) and B)
G) A) and E)

Question 6

Four factors are required for marketing to occur: (1)  two or more parties (individuals or organizations)  with unsatisfied needs; (2)  a desire and ability on their part to be satisfied; (3)  __________; and (4)  something to exchange.

Accepted Answer

A)  a way for the parties to communicate
B)  a healthy competitive environment
C)  an affordable and actionable advertising campaign
D)  a sense of social responsibility
E)  an ability to see hidden potential within an environmental forceF) C) and D)
G) A) and E)

Question 7

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Accepted Answer

A)  relationship marketing.
B)  exclusive dealing.
C)  loyalty marketing.
D)  customer relationship management.
E)  symbiotic marketing.F) D) and E)
G) B) and D)

Question 8

Which of the following statements is an example of place utility?

Accepted Answer

A)  airlines that allow you to print your own boarding pass at home
B)  a service station that adds a diesel fuel pump to its three unleaded gasoline pumps
C)  a mobile phone company that offers six-month financing, same as cash
D)  cold cut packages that can be zipped close for reuse
E)  an iPhone with a "multi-touch" user interface for easy navigationF) A) and E)
G) None of the above

Question 9

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as

Accepted Answer

A)  manufacturing.
B)  advertising.
C)  marketing.
D)  selling.
E)  promotion.F) C) and E)
G) A) and D)

Question 10

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

Accepted Answer

Marketing creates utility, the benefits ...

Question 11

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Accepted Answer

A)  uncontrollable forces
B)  profitability factors
C)  stakeholder value generators
D)  target market segments
E)  controllable factorsF) B) and E)
G) A) and D)

Question 12

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Accepted Answer

A)  market segment
B)  demographic cluster
C)  organizational buyer group
D)  ultimate consumer group
E)  qualified prospect groupF) B) and C)
G) C) and D)

Question 13

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Accepted Answer

Product actions. (1) In 2005, Turkish im...

Question 14

Domino's Pizza has addressed the first objective in marketing, which is to discover consumers'

Accepted Answer

A)  diversity of opinion to create advertising messages.
B)  income to determine the most lucrative price point for a product.
C)  lifetime value of an offering to the organization.
D)  characteristics that would be useful to segment markets.
E)  needs, to create products that could satisfy them.F) B) and D)
G) D) and E)

Question 15

A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because

Accepted Answer

A)  marketing doesn't apply to the voting process.
B)  the desire and ability to satisfy needs is missing.
C)  there is no direct way for the parties to communicate.
D)  something to exchange is missing.
E)  there is only one party involved in this situation.F) A) and D)
G) B) and C)

Question 16

An organization with a market orientation

Accepted Answer

A)  focuses its efforts on continuously collecting information about the environment, keeping abreast of competitors' actions, and using this information to create product innovation.
B)  identifies prospective buyers, understands them intimately, and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace.
C)  strives to satisfy the needs of consumers while also trying to achieve its goals.
D)  satisfies the needs of consumers in a way that provides for society's well-being.
E)  focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.F) None of the above
G) All of the above

Question 17

In U.S. business history, the marketing concept became a motivating force during

Accepted Answer

A)  the early years of the Civil War.
B)  the 1920s.
C)  the 1950s.
D)  the mid-1980s.
E)  the first few years of the 21st century.F) B) and C)
G) A) and E)

Question 18

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Accepted Answer

The American Marketing Association defin...

Question 19

The societal marketing concept

Accepted Answer

A)  is the moral principles and values that govern the actions and decisions of an organization.
B)  is the idea that organizations are part of a larger society and are accountable to that society for their actions.
C)  actively tries to understand customer needs and satisfy them while satisfying the firm's goals.
D)  involves conducting business in a way that protects the natural environment while making economic progress.
E)  is the view that an organization should satisfy the needs of consumers in a way that provides for society's well-being.F) C) and D)
G) A) and E)

Question 20

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...

Exam 1: Creating Customer Relationships and Value Through Marketing

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Correct Answer
verified
The American Marketing Association defin...
View Answer

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as

Correct Answer
verified

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Correct Answer
verified

In U.S. business history, the marketing concept became a motivating force during

Correct Answer
verified

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Correct Answer
verified
Product actions. (1) In 2005, Turkish im...
View Answer

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

Correct Answer
verified
Marketing creates utility, the benefits ...
View Answer

Domino's Pizza has addressed the first objective in marketing, which is to discover consumers'

Correct Answer
verified

Which of the following is an example of time utility?

Correct Answer
verified

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct Answer
verified

A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because

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

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Correct Answer
verified

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Correct Answer
verified

Correct Answer
verified

Which of the following statements is an example of place utility?

Correct Answer
verified

The societal marketing concept

Correct Answer
verified

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Correct Answer
verified

Correct Answer
verified

Organizational buyers are described as

Correct Answer
verified

An organization with a market orientation

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Correct AnswerverifiedThe American Marketing Association defin...View AnswerShow Answer

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as

Correct AnswerverifiedShow Answer

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Correct AnswerverifiedShow Answer

In U.S. business history, the marketing concept became a motivating force during

Correct AnswerverifiedShow Answer

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Correct AnswerverifiedProduct actions. (1) In 2005, Turkish im...View AnswerShow Answer

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

Correct AnswerverifiedMarketing creates utility, the benefits ...View AnswerShow Answer

Domino's Pizza has addressed the first objective in marketing, which is to discover consumers'

Correct AnswerverifiedShow Answer

Which of the following is an example of time utility?

Correct AnswerverifiedShow Answer

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct AnswerverifiedShow Answer

A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because

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

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Correct AnswerverifiedShow Answer

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements is an example of place utility?

Correct AnswerverifiedShow Answer

The societal marketing concept

Correct AnswerverifiedShow Answer

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Organizational buyers are described as

Correct AnswerverifiedShow Answer

An organization with a market orientation

Correct AnswerverifiedShow Answer

Correct Answer
verified
The American Marketing Association defin...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Product actions. (1) In 2005, Turkish im...
View Answer

Correct Answer
verified
Marketing creates utility, the benefits ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

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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