Question 1

Which of the following statements best describes a service?

Accepted Answer

A)  Services are physical objects.
B)  Services are intangible items.
C)  Services are thoughts about concepts, actions, or causes.
D)  Services are the benefits organizations receive in exchange for selling products.
E)  Services comprise the subset of tangible features of products.F) None of the above
G) A) and B)

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 n...

Question 3

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 4

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Accepted Answer

A)  mass market.
B)  tangential market.
C)  potential market.
D)  target market.
E)  promotional market.F) A) and B)
G) A) and C)

Question 5

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Accepted Answer

A)  the marketing concept.
B)  the marketing mix.
C)  the marketing program.
D)  environmental forces.
E)  the marketing toolbox.F) C) and D)
G) B) and D)

Question 6

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

Accepted Answer

Traditionally, many marketing executives...

Question 7

A customer value proposition is

Accepted Answer

A)  the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
B)  a statement that, before product development begins, identifies (1)  a well-defined target market; (2)  specific customers' needs, wants, and preferences; and (3)  what the product will be and do to satisfy consumers.
C)  a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
D)  the characteristics of a product that make it superior to competitive substitutes.
E)  the cluster of benefits that an organization promises customers to satisfy their needs.F) D) and E)
G) A) and B)

Question 8

A want is a ____ that is shaped by a person's knowledge, culture, and personality.

Accepted Answer

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

Question 9

Which of the following statements best distinguishes between consumer needs and wants?

Accepted Answer

A)  Needs are far more influential than wants with respect to marketing decision making.
B)  Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.
C)  Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person's knowledge, culture, or personality.
D)  Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy.
E)  Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.F) C) and E)
G) None of the above

Question 10

Entities such as manufacturers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A)  intermediate buyers.
B)  selling agents.
C)  organizational buyers.
D)  manufacturing agents.
E)  brokers.F) None of the above
G) A) and B)

Question 11

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

Question 12

All of the following are true about marketing except

Accepted Answer

A)  marketing is a broader activity than advertising.
B)  marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers.
C)  marketing persuades people to buy the "wrong" things.
D)  when an organization engages in marketing, it should also create value for its partners and society.
E)  marketing is a broader activity than personal selling.F) A) and D)
G) None of the above

Question 13

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

Accepted Answer

A)  There are not two or more parties with unsatisfied needs.
B)  A desire to satisfy a need is missing.
C)  No assessments of consumer wants and needs have been made.
D)  There is no way for the parties involved to communicate.
E)  The ability to satisfy a need is missing.F) C) and E)
G) A) and B)

Question 14

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 (1)  strive to satisfy the needs of consumers (2)  while also trying to achieve the organization's goals.F) B) and E)
G) None of the above

Question 15

The place strategy in 3M's marketing program made it convenient for __________ to buy Post-it Flag Highlighters and Post-it Flag Pens.

Accepted Answer

A)  external salespeople only
B)  college students only
C)  office workers only
D)  college students and office workers
E)  teachers onlyF) A) and B)
G) A) and C)

Question 16

The United Way of Greater Toronto (UWGT) , like many charities, was sitting on a gold mine of donor data. Unfortunately, UWGT was not certain how to use that information to its greatest advantage. UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT over other charities. Which of the following tools would be most useful for the nonprofit organization to use?

Accepted Answer

A)  a flexible marketing system
B)  a database warehouse
C)  a customer relationship management plan
D)  a competitive intelligence framework
E)  a customer-oriented marketing programF) B) and C)
G) A) and B)

Question 17

John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store.

Accepted Answer

A)  This is an example of demonstrating an unmet need
B)  This is an example of discovering a consumer need
C)  This is an example of the foundation of an exchange relationship
D)  This is an example of a way for parties to communicate
E)  This is an example of practicing ethics and sustainabilityF) A) and B)
G) B) and D)

Question 18

Marketing discovers consumer needs by

Accepted Answer

A)  implementing a marketing program.
B)  conducting effective marketing research.
C)  balancing the marketing mix elements-the four Ps of the marketing program.
D)  advertising to diverse groups of prospective buyers.
E)  copying the products and services of competitors.F) A) and D)
G) C) and E)

Question 19

All of the following are departments within a typical organization except

Accepted Answer

A)  finance.
B)  manufacturing.
C)  information systems.
D)  human resources.
E)  suppliers.F) A) and B)
G) A) and C)

Question 20

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

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Which of the following statements best distinguishes between consumer needs and wants?

Correct Answer
verified

A want is a ____ that is shaped by a person's knowledge, culture, and personality.

Correct Answer
verified

All of the following are true about marketing except

Correct Answer
verified

John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store.

Correct Answer
verified

Entities such as manufacturers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as

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

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Correct Answer
verified

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Correct Answer
verified

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

Correct Answer
verified

Marketing discovers consumer needs by

Correct Answer
verified

Relationship marketing refers to

Correct Answer
verified

The marketing concept refers to

Correct Answer
verified

Correct Answer
verified

The place strategy in 3M's marketing program made it convenient for __________ to buy Post-it Flag Highlighters and Post-it Flag Pens.

Correct Answer
verified

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

All of the following are departments within a typical organization except

Correct Answer
verified

A customer value proposition is

Correct Answer
verified

Correct Answer
verified

Which of the following statements best describes a service?

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Which of the following statements best distinguishes between consumer needs and wants?

Correct AnswerverifiedShow Answer

A want is a ____ that is shaped by a person's knowledge, culture, and personality.

Correct AnswerverifiedShow Answer

All of the following are true about marketing except

Correct AnswerverifiedShow Answer

John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store.

Correct AnswerverifiedShow Answer

Entities such as manufacturers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as

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

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Correct AnswerverifiedShow Answer

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Correct AnswerverifiedShow Answer

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

Correct AnswerverifiedShow Answer

Marketing discovers consumer needs by

Correct AnswerverifiedShow Answer

Relationship marketing refers to

Correct AnswerverifiedShow Answer

The marketing concept refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The place strategy in 3M's marketing program made it convenient for __________ to buy Post-it Flag Highlighters and Post-it Flag Pens.

Correct AnswerverifiedShow Answer

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

All of the following are departments within a typical organization except

Correct AnswerverifiedShow Answer

A customer value proposition is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements best describes a service?

Correct AnswerverifiedShow Answer

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
Traditionally, many marketing executives...
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
To answer this question, students will n...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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