Question 1

The people who use the products and services purchased for a household are called

Accepted Answer

A)  organizational buyers.
B)  household prospects.
C)  ultimate consumers.
D)  a target market.
E)  sellers.F) C) and E)
G) B) and D)

Question 2

In China,many people are removing their money from the state banks and lending it out themselves.The interest rate earned in a state bank account is about one-half the rate of inflation.On the other hand,lending money to friends,relatives,and even unrelated entrepreneurs can often earn the investor a rate at least double the inflation rate.The gray market,an underground network of investors and private businesses,moves the cash from lenders to businesses.Did marketing occur here? Explain your answer.

Accepted Answer

To answer this question,students will ne...

Question 3

Marketing refers to

Accepted Answer

A)  the production of products or services that will generate the highest return on investment.
B)  the strategies used in the advertising and promotion of products and services to customers around the globe.
C)  the process of identifying target market segments for a product or service and using selling tactics to reach them.
D)  the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.
E)  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.F) None of the above
G) A) and E)

Question 4

The Apple iPhone is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone provides value for its customers?

Accepted Answer

Customer value is the unique combination...

Question 5

The Hermitage,a famous Russian art museum,was experiencing a decrease in visitors that was blamed on low awareness of the museum's treasures.The Hermitage partnered with IBM to create an online virtual tour of a sampling of paintings,sculptures,artifacts,etc. ,hopefully encouraging visitors to make a trip to experience it all.The Hermitage is a(n) ________ that uses online virtual tours to market itself worldwide.

Accepted Answer

A)  good
B)  idea
C)  service
D)  assembly
E)  charityF) B) and D)
G) B) and E)

Question 6

Conducting marketing research is an excellent way to address the first objective in marketing,which is to discover consumers'

Accepted Answer

A)  diversity of opinion to create persuasive 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) A) and E)
G) B) and D)

Question 7

Which of the following is a factor required for marketing to occur?

Accepted Answer

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

Question 8

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

Accepted Answer

A)  core benefit proposal.
B)  product protocol.
C)  marketing program.
D)  marketing mix.
E)  customer value proposition.F) B) and E)
G) A) and E)

Question 9

The purpose of the introduction of 3M Post-it Flag Highlighters was to

Accepted Answer

A)  stay ahead of trends and focus its marketing program on only one segment.
B)  stay ahead of trends and focus its marketing program on expanding distribution.
C)  increase production economies of scale by reducing manufacturing and marketing costs for Post-it Flags and Post-it Notes.
D)  preempt a competitive move by Sanford's Sharpie to introduce a similar product.
E)  help college students with their studying.F) B) and E)
G) A) and B)

Question 10

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

Accepted Answer

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

Question 11

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Accepted Answer

A)  a product.
B)  the price.
C)  promotion.
D)  the place.
E)  the process.F) C) and D)
G) None of the above

Question 12

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) C) and D)
G) B) and E)

Question 13

Elon Musk was involved in the inception of all of the following companies except which?

Accepted Answer

A)  SpaceX
B)  PayPal
C)  Tesla
D)  Facebook
E)  SolarCityF) All of the above
G) A) and E)

Question 14

A church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief,positive story about how fellow members have helped them during times of need.Jack volunteered and shared his story during a service.Afterward,he felt joyous.Was this an exchange in a marketing sense?

Accepted Answer

A)  Yes,because the church ran an advertisement,a marketing activity.
B)  No,because the church is a nonprofit organization and these actions are expected without any expectation of "exchange."
C)  No,because no money was exchanged.
D)  Yes,because sharing his story at a service was exchanged for a feeling of joy.
E)  No,because the church did not provide Jack with a tangible product or service.F) A) and C)
G) C) and D)

Question 15

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

Accepted Answer

A)  Relationship marketing has a short-term focus: increasing profits for the firm.
B)  Relationship marketing prevents the need to offer unique value to customers.
C)  Relationship marketing provides benefits for both customers and the organization.
D)  Very few companies today are engaged in relationship marketing.
E)  The Internet almost always has a negative impact on a firm's personal relationships with customers.F) A) and B)
G) A) and C)

Question 16

The Terrafugia Transition is a 19-foot,two-seater,road-drivable,light-sport aircraft with an anticipated price of $279,000.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) C) and D)
G) B) and C)

Question 17

In the performing arts world,Tessitura uses box office technology to track every patron transaction,including ticket purchases,fund-raising,volunteering,and gift shop purchases,in one database.The information can help symphonies,operas,and theaters develop customer profiles to tailor sales messages to specific individuals.Tessitura will allow arts groups to engage in

Accepted Answer

A)  market aggregation.
B)  relationship marketing.
C)  societal marketing.
D)  market mining.
E)  mainstream marketing.F) None of the above
G) All of the above

Question 18

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

Question 19

Why do some marketers feel that environmental forces are not entirely outside their influence?

Accepted Answer

Traditionally,many marketing executives ...

Question 20

All of the following are aspects of Trader Joe's customer experience except which?

Accepted Answer

A)  It has a large and expensive research and development facility.
B)  It offers unusual food products not available from other retailers.
C)  Its commitment to customer experience has resulted in its rank as a favorite supermarket.
D)  It sets low prices by offering its own brands,not national ones.
E)  It provides employee "engagement" to help customers.F) A) and C)
G) A) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

The Apple iPhone is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone provides value for its customers?

Correct Answer
verified
Customer value is the unique combination...
View Answer

Which of the following is a factor required for marketing to occur?

Correct Answer
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An organization with a market orientation

Correct Answer
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The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

Correct Answer
verified

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Correct Answer
verified

Conducting marketing research is an excellent way to address the first objective in marketing,which is to discover consumers'

Correct Answer
verified

Marketing refers to

Correct Answer
verified

The people who use the products and services purchased for a household are called

Correct Answer
verified

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

Correct Answer
verified

Why do some marketers feel that environmental forces are not entirely outside their influence?

Correct Answer
verified
Traditionally,many marketing executives ...
View Answer

Correct Answer
verified
To answer this question,students will ne...
View Answer

Correct Answer
verified

Elon Musk was involved in the inception of all of the following companies except which?

Correct Answer
verified

Correct Answer
verified

All of the following are aspects of Trader Joe's customer experience except which?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

The purpose of the introduction of 3M Post-it Flag Highlighters was to

Correct Answer
verified

The Terrafugia Transition is a 19-foot,two-seater,road-drivable,light-sport aircraft with an anticipated price of $279,000.The most likely prospective customers for this flying car would include

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

The Apple iPhone is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone provides value for its customers?

Correct AnswerverifiedCustomer value is the unique combination...View AnswerShow Answer

Which of the following is a factor required for marketing to occur?

Correct AnswerverifiedShow Answer

An organization with a market orientation

Correct AnswerverifiedShow Answer

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

Correct AnswerverifiedShow Answer

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Correct AnswerverifiedShow Answer

Conducting marketing research is an excellent way to address the first objective in marketing,which is to discover consumers'

Correct AnswerverifiedShow Answer

Marketing refers to

Correct AnswerverifiedShow Answer

The people who use the products and services purchased for a household are called

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Why do some marketers feel that environmental forces are not entirely outside their influence?

Correct AnswerverifiedTraditionally,many marketing executives ...View AnswerShow Answer

Correct AnswerverifiedTo answer this question,students will ne...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Elon Musk was involved in the inception of all of the following companies except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are aspects of Trader Joe's customer experience except which?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The purpose of the introduction of 3M Post-it Flag Highlighters was to

Correct AnswerverifiedShow Answer

The Terrafugia Transition is a 19-foot,two-seater,road-drivable,light-sport aircraft with an anticipated price of $279,000.The most likely prospective customers for this flying car would include

Correct AnswerverifiedShow Answer

Correct Answer
verified
Customer value is the unique combination...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Traditionally,many marketing executives ...
View Answer

Correct Answer
verified
To answer this question,students will ne...
View Answer

Correct Answer
verified

Correct Answer
verified

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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