Question 1

The value to consumers that comes from having the offering available where consumers need it constitutes ________ utility.

Accepted Answer

A)   time
B)   place
C)   possession
D)   market
E)   formF) A) and D)
G) B) and D)

Question 2

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) A) and B)
G) A) and E)

Question 3

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 Mars Curiosity Rover
D)   Google Glass
E)   ZipCarF) C) and D)
G) A) and D)

Question 4

FreshCase packaging is the first-ever vacuum package for red meat that maintains the meat's appetizing color, reducing both food and plastic waste. This is an example of creating ________ utility in the case-ready meat category.

Accepted Answer

A)   time
B)   place
C)   form
D)   possession
E)   marketF) A) and B)
G) A) and E)

Question 5

Dick's Sporting Goods carries baseballs year-round. The same is true for footballs and tennis equipment. With this strategy, Dick's Sporting Goods offers ________ utility for these products.

Accepted Answer

A)   time
B)   place
C)   possession
D)   market
E)   formF) B) and E)
G) All of the above

Question 6

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the ________ element of the marketing mix.

Accepted Answer

A)   product
B)   price
C)   production
D)   promotion
E)   placeF) A) and B)
G) B) and D)

Question 7

Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?

Accepted Answer

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

Question 8

List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Accepted Answer

The five environmental forces mainly bey...

Question 9

Which of the following is an example of form utility?

Accepted Answer

A)   an iPhone with a "multitouch" user interface for easy navigation
B)   stamp vending machines that are located in drugstores
C)   a service station that has a 24-hour ice machine available for use when the station is closed
D)   a mobile phone company that offers six-month financing, same as cash
E)   a gourmet candy store that offers a home delivery serviceF) A) and B)
G) C) and D)

Question 10

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) A) and C)
G) A) and E)

Question 11

Hudson News Distribution owners Lisa and James Cohen recently launched a quarterly art and interior design magazine, Galerie, to be distributed exclusively in their retail stores. Who is the ultimate consumer for this magazine?

Accepted Answer

A)   the person who buys the magazine to read at home
B)   the person who stocks the magazine rack at Hudson News
C)   any person who owns Hudson News stock
D)   the salesperson at Hudson News
E)   All those who benefit from the magazine, from the owners and writers, to the seller, to the reader at home, are ultimate consumers.F) C) and D)
G) B) and E)

Question 12

Define needs and wants. Can marketing shape a person's wants? Explain your answer.

Accepted Answer

A need occurs when a person feels depriv...

Question 13

A ________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

Accepted Answer

A)   desire
B)   need
C)   utility
D)   want
E)   cravingF) A) and B)
G) B) and E)

Question 14

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.F) A) and B)
G) All of the above

Question 15

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

Accepted Answer

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

Question 16

The marketing concept refers to

Accepted Answer

A)   the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.
B)   the belief that an organization should continuously collect information about customers' needs, share this information across departments, and use it to create customer value.
C)   the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
D)   the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
E)   the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.F) A) and B)
G) D) and E)

Question 17

A product

Accepted Answer

A)   consists of the benefits or customer value received by its sellers.
B)   is the cluster of benefits that an organization promises customers to satisfy their needs.
C)   is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.
D)   consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
E)   is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of valueF) D) and E)
G) B) and C)

Question 18

Customer experience refers to

Accepted Answer

A)   the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time.
B)   the links an organization has to its customers for their mutual long-term benefits.
C)   the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
D)   the internal response that customers have to all aspects of an organization and its offerings.
E)   the activities in which a firm participates to create a positive buying experience for customers.F) A) and E)
G) B) and E)

Question 19

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 20

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.F) B) and E)
G) A) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

Correct Answer
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Organizational buyers are described as

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The marketing mix refers to

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A product

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List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Correct Answer
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The five environmental forces mainly bey...
View Answer

Which of the following is an example of form utility?

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

Dick's Sporting Goods carries baseballs year-round. The same is true for footballs and tennis equipment. With this strategy, Dick's Sporting Goods offers ________ utility for these products.

Correct Answer
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The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the ________ element of the marketing mix.

Correct Answer
verified

A ________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

Correct Answer
verified

Define needs and wants. Can marketing shape a person's wants? Explain your answer.

Correct Answer
verified
A need occurs when a person feels depriv...
View Answer

Hudson News Distribution owners Lisa and James Cohen recently launched a quarterly art and interior design magazine, Galerie, to be distributed exclusively in their retail stores. Who is the ultimate consumer for this magazine?

Correct Answer
verified

The marketing concept refers to

Correct Answer
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Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Customer experience refers to

Correct Answer
verified

The value to consumers that comes from having the offering available where consumers need it constitutes ________ utility.

Correct Answer
verified

FreshCase packaging is the first-ever vacuum package for red meat that maintains the meat's appetizing color, reducing both food and plastic waste. This is an example of creating ________ utility in the case-ready meat category.

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Correct AnswerverifiedShow Answer

Organizational buyers are described as

Correct AnswerverifiedShow Answer

The marketing mix refers to

Correct AnswerverifiedShow Answer

A product

Correct AnswerverifiedShow Answer

List the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Correct AnswerverifiedThe five environmental forces mainly bey...View AnswerShow Answer

Which of the following is an example of form utility?

Correct AnswerverifiedShow Answer

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

Dick's Sporting Goods carries baseballs year-round. The same is true for footballs and tennis equipment. With this strategy, Dick's Sporting Goods offers ________ utility for these products.

Correct AnswerverifiedShow Answer

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the ________ element of the marketing mix.

Correct AnswerverifiedShow Answer

A ________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

Correct AnswerverifiedShow Answer

Define needs and wants. Can marketing shape a person's wants? Explain your answer.

Correct AnswerverifiedA need occurs when a person feels depriv...View AnswerShow Answer

Hudson News Distribution owners Lisa and James Cohen recently launched a quarterly art and interior design magazine, Galerie, to be distributed exclusively in their retail stores. Who is the ultimate consumer for this magazine?

Correct AnswerverifiedShow Answer

The marketing concept refers to

Correct AnswerverifiedShow Answer

Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Customer experience refers to

Correct AnswerverifiedShow Answer

The value to consumers that comes from having the offering available where consumers need it constitutes ________ utility.

Correct AnswerverifiedShow Answer

FreshCase packaging is the first-ever vacuum package for red meat that maintains the meat's appetizing color, reducing both food and plastic waste. This is an example of creating ________ utility in the case-ready meat category.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The five environmental forces mainly bey...
View Answer

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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A need occurs when a person feels depriv...
View Answer

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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