Question 1

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Accepted Answer

A)  a product.
B)  promotion.
C)  the price.
D)  the place or distribution.
E)  advertising.F) B) and E)
G) All of the above

Question 2

Which of the following is the best example of an organizational buyer?

Accepted Answer

A)  a mother buying milk for her young son
B)  a store owner buying hand-painted slate signs to sell in her store
C)  a computer programmer buying the latest game for his Xbox
D)  a botanist buying a rose bush for his home garden
E)  a parent buying a softball glove for a daughterF) A) and E)
G) All of the above

Question 3

Which answer reflects (in this order)  a good, a service, and an idea that can be marketed?

Accepted Answer

A)  a candy bar, a wastepaper basket, and a vending machine
B)  a CD, a concert, and a souvenir T-shirt
C)  a political candidate, democracy, and freedom
D)  an iPod, an iPhone, and an iPad
E)  a toothbrush, laser teeth whitening, and dental hygieneF) B) and D)
G) A) and B)

Question 4

Which of the following terms best describes the marketing concept?

Accepted Answer

A)  consumer-oriented
B)  production-oriented
C)  sales-oriented
D)  society-oriented
E)  competition-orientedF) None of the above
G) B) and C)

Question 5

Organizations such as American Airlines, U.S. Bank, and the Red Cross provide customers with products that are typically called

Accepted Answer

A)  a utility.
B)  a performance.
C)  a service.
D)  a value.
E)  an idea.F) D) and E)
G) B) and E)

Question 6

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river. Oil manufacturers know this is not an isolated occurrence, so should they be concerned?

Accepted Answer

A)  No, you paid for the oil and you can dispose of it as you like.
B)  No, the oil company will someday add a premium to the price to pay for oil cleanup in the environment.
C)  Yes, this is the type of situation that can get "big oil" a lot of bad press.
D)  Yes, this is an issue of social responsibility because the polluted water affects others in the society at large.
E)  No, this is an issue solely between you and your neighbors.F) A) and B)
G) All of the above

Question 7

Describe Chobani's distribution (place) strategy.

Accepted Answer

From the beginning, Chobani pushed for d...

Question 8

The founder of Chobani, who won the 2013 Ernst & Young World Entrepreneur of the Year award, is

Accepted Answer

A)  Mark Zuckerberg.
B)  "Trader" Joe Demapolis.
C)  Hamdi Ulukaya.
D)  Robert M. McMath.
E)  David Windorski.F) C) and E)
G) D) and E)

Question 9

Explain Chobani's product strategy that makes Chobani yogurt different from its principal competitors.

Accepted Answer

The Chobani product strategy stresses it...

Question 10

Discovering consumer needs leads to

Accepted Answer

A)  purchases by customers.
B)  stakeholder rewards.
C)  sales and manufacturing department outcomes.
D)  supplier and distributor outcomes.
E)  concepts for new products.F) A) and B)
G) A) and C)

Question 11

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

Question 12

The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is

Accepted Answer

A)  philanthropy.
B)  place.
C)  product.
D)  promotion.
E)  price.F) C) and D)
G) D) and E)

Question 13

Initially, Facebook targeted which consumer market segment?

Accepted Answer

A)  grade school children ages 6 to 12 years old
B)  high school students
C)  college students
D)  adults with professional occupations
E)  senior adults 55 years and olderF) A) and E)
G) All of the above

Question 14

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets. This statement deals with which part of the marketing mix?

Accepted Answer

A)  process
B)  price
C)  product
D)  place
E)  peopleF) C) and D)
G) A) and D)

Question 15

The marketing department of an organization is responsible for facilitating

Accepted Answer

A)  relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
B)  healthy competition with other product manufacturers.
C)  financial contracts with banks and other lending institutions.
D)  alliances with firms with noncompetitive products that target similar markets.
E)  the coordination between the various departments within the entire firm.F) C) and E)
G) A) 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 D)
G) A) and B)

Question 17

A market orientation refers to

Accepted Answer

A)  the orientation of an organization that focuses its efforts on continuously collecting information about the environment, keeping abreast of the actions of its competitors, and using this information to create product innovation.
B)  the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change.
C)  the orientation of an organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.
D)  the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus.
E)  the point of view that holds that there is always someone who needs or can benefit from your product, and if one segment fails, there is an even better one somewhere in the "market."F) C) and E)
G) B) and D)

Question 18

Recently, Fortune magazine named Trader Joe's "America's hottest retailer" 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 relationship managementF) A) and E)
G) D) and E)

Question 19

According to the textbook, Target has been successful by offering consumers the best

Accepted Answer

A)  experience.
B)  products/services.
C)  customer service.
D)  availability.
E)  price.F) All of the above
G) A) and E)

Question 20

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

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following is the best example of an organizational buyer?

Correct AnswerverifiedShow Answer

According to the textbook, Target has been successful by offering consumers the best

Correct AnswerverifiedShow Answer

Organizations such as American Airlines, U.S. Bank, and the Red Cross provide customers with products that are typically called

Correct AnswerverifiedShow Answer

The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is

Correct AnswerverifiedShow Answer

Discovering consumer needs leads to

Correct AnswerverifiedShow Answer

Which answer reflects (in this order) a good, a service, and an idea that can be marketed?

Correct AnswerverifiedShow Answer

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river. Oil manufacturers know this is not an isolated occurrence, so should they be concerned?

Correct AnswerverifiedShow Answer

Initially, Facebook targeted which consumer market segment?

Correct AnswerverifiedShow Answer

The marketing mix refers to

Correct AnswerverifiedShow Answer

Recently, Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________, including personal attention from employees in the store.

Correct AnswerverifiedShow Answer

The founder of Chobani, who won the 2013 Ernst & Young World Entrepreneur of the Year award, is

Correct AnswerverifiedShow Answer

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old-fashioned cookies the company produces and markets. This statement deals with which part of the marketing mix?

Correct AnswerverifiedShow Answer

A market orientation refers to

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 terms best describes the marketing concept?

Correct AnswerverifiedShow Answer

Describe Chobani's distribution (place) strategy.

Correct AnswerverifiedFrom the beginning, Chobani pushed for d...View AnswerShow Answer

Explain Chobani's product strategy that makes Chobani yogurt different from its principal competitors.

Correct AnswerverifiedThe Chobani product strategy stresses it...View AnswerShow Answer

The marketing department of an organization is responsible for facilitating

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

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Correct AnswerverifiedShow Answer

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From the beginning, Chobani pushed for d...
View Answer

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The Chobani product strategy stresses it...
View Answer

Correct Answer
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Correct Answer
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