Question 1

Which statement about customer value is most accurate?

Accepted Answer

A)   Target customers assess customer, regardless of the price.
B)   Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)   Research suggests that firms can be most successful by being all things to all consumers.
D)   It is impossible to place a dollar value on a loyal, satisfied customer.
E)   By providing unique value for targeted buyers, firms can build long-term relationships with them.F) A) and D)
G) A) and C)

Question 2

Chobani used all of the following tactics to promote its Greek yogurt except which?

Accepted Answer

A)   sponsored the Food Network's "Rachael vs. Guy: Kids Kick-Off" TV show with its Chobani Kids Pouches
B)   created a website to provide consumers with recipes that use Chobani yogurt
C)   sponsored U.S. Olympic Teams
D)   used social networks Facebook, Twitter, Pinterest, and Instagram
E)   relied on word of mouth in its early yearsF) A) and B)
G) A) and C)

Question 3

All of the following are environmental forces that affect an organization except which?

Accepted Answer

A)   economic
B)   managerial
C)   social
D)   regulatory
E)   technologicalF) A) and B)
G) A) and E)

Question 4

What kinds of organizations should engage 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 kind of organization
E)   only organizations with a profit motiveF) A) and E)
G) C) and D)

Question 5

Which statement about 3M's marketing program for Post-it Flag Highlighters and Post-it Flag Pens is most accurate?

Accepted Answer

A)   In his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market.
B)   Paralegals were initially the intended target market for the Post-it Flag Highlighter.
C)   David Windorski, a 3M inventor, developed the Post-it Flag Pen for the office worker segment.
D)   The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line.
E)   In development of the Post-it Flag Highlighter, David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "wow" factor.F) B) and E)
G) B) and D)

Question 6

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer for Colgate, when launching a new version of the 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.F) B) and C)
G) A) and D)

Question 7

Customer relationship management refers to the

Accepted Answer

A)   view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
B)   process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace.
C)   idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
D)   links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
E)   cluster of benefits that an organization promises customers to satisfy their needs.F) B) and E)
G) B) and D)

Question 8

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda Cho decided to donate a pint of blood. After she did, Amanda Cho felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?

Accepted Answer

A)   Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity.
B)   Yes, because the donated blood was exchanged for a feeling of satisfaction.
C)   No, because the Red Cross is a nonprofit organization.
D)   No, because no money changed hands.
E)   No, because the Red Cross, a service organization, did not provide Amanda Cho with a product.F) C) and E)
G) A) and E)

Question 9

The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new customers is referred to as the ________ era.

Accepted Answer

A)   sales
B)   marketing concept
C)   production
D)   goods
E)   market orientationF) B) and E)
G) A) and D)

Question 10

A need that has been shaped by a person's knowledge, culture, and personality results in a

Accepted Answer

A)   standard.
B)   want.
C)   utility.
D)   demand.
E)   preference.F) B) and E)
G) A) and E)

Question 11

The PAL-V Liberty is a two-seat, gas-powered gyrocopter with a flying range of about 250 miles at maximum weight. In car mode, the three-wheeled vehicle can hit 100 mph. Its maker is seeking safety certification in Europe, and 90 initial production models are now for sale starting at $399,000. The most likely prospective customers for this flying car would include

Accepted Answer

A)   students who attend college at least 500 miles away from home.
B)   retired seniors receiving Social Security.
C)   executives for whom time is extremely important.
D)   teens who like to try new things.
E)   families in need of a second vehicle.F) B) and E)
G) C) and D)

Question 12

One challenge faced by organizations is the need to focus on consumer needs while also ________ the interests of countless other people, groups, and forces that interact to shape the nature of its actions.

Accepted Answer

A)   resisting
B)   balancing
C)   developing
D)   guaranteeing
E)   minimizingF) C) and E)
G) B) and D)

Question 13

The ________ element of the marketing mix is demonstrated when Amazon delivers packages to a customer's front porch via the U.S. Postal Service.

Accepted Answer

A)   place
B)   product
C)   price
D)   promotion
E)   procurementF) C) and D)
G) B) and E)

Question 14

Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Other items in the product line contain small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri-Sun juice, or Kool-Aid. The box is bright yellow and the quantity of food contained within it is small. The target market for Kraft Lunchables is most likely

Accepted Answer

A)   parents with school-age children who pack a simple healthy lunch for them.
B)   businesspeople looking for a satisfying breakfast at the office.
C)   business travelers on the run.
D)   teenagers who have missed a meal for after-school activities.
E)   baby boomers who are trying to lose weight.F) C) and E)
G) B) and C)

Question 15

Concerns about privacy might have been a reason for lackluster sales of which of these products?

Accepted Answer

A)   Amazon Prime
B)   Google Glass
C)   Apple Newton MessagePad
D)   YoYo car subscriptions
E)   AirBnB rentalsF) C) and D)
G) A) and C)

Question 16

Trader Joe's is consistently ranked as one of America's favorite supermarket chains 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 profilingF) A) and D)
G) None of the above

Question 17

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

Accepted Answer

A)   change
B)   satisfy
C)   circumvent
D)   align
E)   preserveF) B) and E)
G) A) and C)

Question 18

Satisfying consumer needs is accomplished by

Accepted Answer

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

Question 19

Describe two different target markets for two different products or services you, your friends, or your family have recently purchased or used.

Accepted Answer

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

Question 20

Ultimate consumers are

Accepted Answer

A)   the people who use the products and services purchased for a household.
B)   people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
C)   people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
D)   those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
E)   one or more specific groups of potential customers toward whom an organization directs its marketing program.F) A) and C)
G) C) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

What kinds of organizations should engage in marketing?

Correct Answer
verified

One challenge faced by organizations is the need to focus on consumer needs while also ________ the interests of countless other people, groups, and forces that interact to shape the nature of its actions.

Correct Answer
verified

Chobani used all of the following tactics to promote its Greek yogurt except which?

Correct Answer
verified

Customer relationship management refers to the

Correct Answer
verified

All of the following are environmental forces that affect an organization except which?

Correct Answer
verified

Concerns about privacy might have been a reason for lackluster sales of which of these products?

Correct Answer
verified

Correct Answer
verified

The ________ element of the marketing mix is demonstrated when Amazon delivers packages to a customer's front porch via the U.S. Postal Service.

Correct Answer
verified

Correct Answer
verified

A need that has been shaped by a person's knowledge, culture, and personality results in a

Correct Answer
verified

Satisfying consumer needs is accomplished by

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda Cho decided to donate a pint of blood. After she did, Amanda Cho felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?

Correct Answer
verified

Ultimate consumers are

Correct Answer
verified

Which statement about customer value is most accurate?

Correct Answer
verified

Trader Joe's is consistently ranked as one of America's favorite supermarket chains for its outstanding ________, including personal attention from employees in the store.

Correct Answer
verified

Describe two different target markets for two different products or services you, your friends, or your family have recently purchased or used.

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

Which statement about 3M's marketing program for Post-it Flag Highlighters and Post-it Flag Pens is most accurate?

Correct Answer
verified

The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new customers is referred to as the ________ era.

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

What kinds of organizations should engage in marketing?

Correct AnswerverifiedShow Answer

One challenge faced by organizations is the need to focus on consumer needs while also ________ the interests of countless other people, groups, and forces that interact to shape the nature of its actions.

Correct AnswerverifiedShow Answer

Chobani used all of the following tactics to promote its Greek yogurt except which?

Correct AnswerverifiedShow Answer

Customer relationship management refers to the

Correct AnswerverifiedShow Answer

All of the following are environmental forces that affect an organization except which?

Correct AnswerverifiedShow Answer

Concerns about privacy might have been a reason for lackluster sales of which of these products?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix is demonstrated when Amazon delivers packages to a customer's front porch via the U.S. Postal Service.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A need that has been shaped by a person's knowledge, culture, and personality results in a

Correct AnswerverifiedShow Answer

Satisfying consumer needs is accomplished by

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda Cho decided to donate a pint of blood. After she did, Amanda Cho felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?

Correct AnswerverifiedShow Answer

Ultimate consumers are

Correct AnswerverifiedShow Answer

Which statement about customer value is most accurate?

Correct AnswerverifiedShow Answer

Trader Joe's is consistently ranked as one of America's favorite supermarket chains for its outstanding ________, including personal attention from employees in the store.

Correct AnswerverifiedShow Answer

Describe two different target markets for two different products or services you, your friends, or your family have recently purchased or used.

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

Which statement about 3M's marketing program for Post-it Flag Highlighters and Post-it Flag Pens is most accurate?

Correct AnswerverifiedShow Answer

The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new customers is referred to as the ________ era.

Correct AnswerverifiedShow 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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