Question 1

The best description of the market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Accepted Answer

A)  toddlers with crooked baby teeth,when crooked teeth run in the family.
B)  all former smokers who have been smoke-free for at least one year.
C)  anyone who has the time,the money,and the desire to undergo the procedures.
D)  anyone who has dental insurance.
E)  adults who want to make a good first impression for an event.F) None of the above
G) C) and D)

Question 2

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Accepted Answer

Exchange is the trade of things of value...

Question 3

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

Accepted Answer

A)  The marketing concept can trace its roots to early Greek culture.
B)  In using the marketing concept,both companies and consumers are able to satisfy needs simultaneously.
C)  In using the marketing concept,companies focus on sales and advertising.
D)  The marketing concept is most effective when production is limited and the product will sell itself.
E)  All U.S.firms are now operating with a marketing concept philosophy.F) A) and C)
G) A) and D)

Question 4

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

Accepted Answer

A)  The marketing department typically works as an independent unit,mostly interacting with other parts of the business only to direct product promotion.
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 two of the four 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) A) and C)
G) C) and D)

Question 5

Product,price,promotion,and place are all components of

Accepted Answer

A)  the firm's required ongoing activities.
B)  the marketing mix.
C)  factors used to examine competitors' products.
D)  the cluster of benefits that an organization develops to satisfy consumers' needs.
E)  people with both the desire and the ability to buy a specific offering.F) All of the above
G) C) and D)

Question 6

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) D) and E)

Question 7

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.Once he has accumulated enough points,he can trade his points in for a free night's stay.As a member of this program,the traveler receives periodic updates on new hotels and learns of ways to earn additional points.The marketing term that best describes this scenario is

Accepted Answer

A)  relationship marketing.
B)  customer satisfaction promotion.
C)  customer relationship management.
D)  customer valuation.
E)  supplier-consumer partnership.F) A) and C)
G) B) and D)

Question 8

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

Accepted Answer

Students' examples will differ,but each ...

Question 9

Which of the following statements about customer value is most accurate?

Accepted Answer

A)  Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc. ) ,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 B)
G) B) and C)

Question 10

Market segments refer to

Accepted Answer

A)  the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)  all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)  the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)  the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E)  all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.F) D) and E)
G) B) and C)

Question 11

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) B) and E)
G) None of the above

Question 12

Which of the following organizations engage in marketing?

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

Question 13

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

Accepted Answer

A)  production orientation.
B)  sales orientation.
C)  customer relationship orientation.
D)  service orientation.
E)  market orientation.F) A) and C)
G) B) and D)

Question 14

One difference between "Greek" yogurt and "American" yogurt is that the latter

Accepted Answer

A)  has a gritty texture.
B)  has a thin consistency.
C)  is not sweet enough for health-conscience palettes.
D)  is only sold in health or natural food stores.
E)  has high protein content.F) A) and C)
G) None of the above

Question 15

Figure 1-5
 
-In Figure 1-5 above,"C" represents which era in U.S.business history?

Accepted Answer

A)  sales era
B)  production era
C)  consumerism era
D)  marketing concept era
E)  customer relationship eraF) A) and D)
G) B) and C)

Question 16

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Accepted Answer

A)  customer value proposition
B)  protocol
C)  mission statement
D)  core values
E)  marketing programF) B) and C)
G) D) and E)

Question 17

Marketing managers use a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Accepted Answer

To reach consumers,marketing managers us...

Question 18

Relationship marketing refers to

Accepted Answer

A)  the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers.
B)  the belief that it is easier and less expensive to find new customers than to retain old ones.
C)  the linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits.
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)  exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.F) B) and E)
G) B) and D)

Question 19

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

Accepted Answer

The three components...

Question 20

Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Accepted Answer

A)  a lack of advertising on television.
B)  that mid-calorie soft drinks such as Pepsi Next (2012) have not been successful in the past.
C)  a lower profit margin due to the added costs of expensive ingredients.
D)  cannibalization of the company's existing sodas.
E)  the use of a combination of sugar and stevia leaf extract.F) C) and D)
G) B) and C)

Exam 1: Creating Customer Relationships and Value Through Marketing

Correct Answer
verified

Which of the following statements about customer value is most accurate?

Correct Answer
verified

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

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

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

Correct Answer
verified

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

Correct Answer
verified
Students' examples will differ,but each ...
View Answer

Relationship marketing refers to

Correct Answer
verified

Product,price,promotion,and place are all components of

Correct Answer
verified

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

Correct Answer
verified

One difference between "Greek" yogurt and "American" yogurt is that the latter

Correct Answer
verified

Figure 1-5 -In Figure 1-5 above,"C" represents which era in U.S.business history?

Correct Answer
verified

Marketing managers use a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Correct Answer
verified
To reach consumers,marketing managers us...
View Answer

The best description of the market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Correct Answer
verified

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

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

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

Correct Answer
verified
The three components...
View Answer

Which of the following organizations engage in marketing?

Correct Answer
verified

Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Correct Answer
verified

Market segments refer to

Correct Answer
verified

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Correct Answer
verified
Exchange is the trade of things of value...
View Answer

Exam 1: Creating Customer Relationships and Value Through Marketing

Correct AnswerverifiedShow Answer

Which of the following statements about customer value is most accurate?

Correct AnswerverifiedShow Answer

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

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

Firms such as General Electric,Marriott,and Facebook have achieved great success by putting a huge effort into implementing the marketing concept,giving their firms a

Correct AnswerverifiedShow Answer

What are the primary differences between an ultimate consumer and an organizational buyer? Select one product and explain the differences in either its use or purchase,depending on whether it was purchased by an ultimate consumer or an organizational buyer.

Correct AnswerverifiedStudents' examples will differ,but each ...View AnswerShow Answer

Relationship marketing refers to

Correct AnswerverifiedShow Answer

Product,price,promotion,and place are all components of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One difference between "Greek" yogurt and "American" yogurt is that the latter

Correct AnswerverifiedShow Answer

Figure 1-5 -In Figure 1-5 above,"C" represents which era in U.S.business history?

Correct AnswerverifiedShow Answer

Marketing managers use a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Correct AnswerverifiedTo reach consumers,marketing managers us...View AnswerShow Answer

The best description of the market for cosmetic dentistry,where costs can be as much as $15,000 for teeth straightening and whitening,is

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedThe three components...View AnswerShow Answer

Which of the following organizations engage in marketing?

Correct AnswerverifiedShow Answer

Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Correct AnswerverifiedShow Answer

Market segments refer to

Correct AnswerverifiedShow Answer

Some people may assume that for a marketer,the only thing of value for which he or she would "exchange" would be monetary (check,credit/debit,currency,and/or coin transactions).But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Correct AnswerverifiedExchange is the trade of things of value...View AnswerShow Answer

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
verified
Students' examples will differ,but each ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
To reach consumers,marketing managers us...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The three components...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Exchange is the trade of things of value...
View Answer