Question 1

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 2

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 is said to have a

Accepted Answer

A)   product orientation.
B)   macroeconomic orientation.
C)   market orientation.
D)   industry orientation.
E)   societal marketing orientation.F) C) and E)
G) A) and B)

Question 3

A target market refers to

Accepted Answer

A)   customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers.
B)   both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs.
C)   a specific group of current consumers toward which an organization directs its advertising.
D)   existing or potential consumers who are seeking a product for which there are no current substitutes.
E)   one or more specific groups of potential consumers toward which an organization directs its marketing program.F) A) and E)
G) B) and C)

Question 4

In the performing arts world,box office technology has remained virtually unchanged since the 1980s.Tessitura is trying to change that by tracking 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) A) and E)
G) B) and C)

Question 5

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

Accepted Answer

A)   the trade of things of value between buyer and seller so that each is better off after the trade.
B)   the negotiation phase between the manufacturer and the seller.
C)   the financial remuneration (monetary payment)  for a product or service.
D)   the transport of tangible goods to new owners.
E)   the practice of swapping products and services for other products and services rather than for money.F) A) and E)
G) A) and D)

Question 6

Satisfying consumer needs is accomplished by

Accepted Answer

A)   designing a marketing program.
B)   conducting marketing research.
C)   discovering consumer needs.
D)   developing a distribution strategy.
E)   identifying target markets.F) B) and D)
G) B) and C)

Question 7

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Accepted Answer

A)   place
B)   possession
C)   market
D)   time
E)   formF) B) and E)
G) None of the above

Question 8

All of the following are current or prospective distribution channels for Chobani yogurt except which?

Accepted Answer

A)   convenience stores
B)   drugstores
C)   mass merchandisers
D)   schools
E)   vending machinesF) B) and E)
G) None of the above

Question 9

The United States Army was both praised and criticized for its use of a popular video game,America's Army,which was designed to reach potential recruits.The game's creator,Colonel Casey Wardynski,wanted to provide a sense of the training and teamwork one could find in the Army's military environment.The game was designed for "boys 14 years or older," which represent the Army's

Accepted Answer

A)   mass market.
B)   actual recruits.
C)   restricted market.
D)   target market.
E)   untapped market.F) B) and C)
G) All of the above

Question 10

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Accepted Answer

A)   the best airport experience.
B)   the most convenient flight schedules.
C)   the best price for the distance traveled.
D)   the best in-flight service.
E)   the greatest sense of personal safety.F) A) and B)
G) D) and E)

Question 11

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

Accepted Answer

A target market is a specific group of p...

Question 12

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 13

A factor that might doom a product in the marketplace is referred to as

Accepted Answer

A)   an albatross.
B)   a land mine.
C)   a pitfall.
D)   a showstopper.
E)   a wild card.F) A) and D)
G) B) and D)

Question 14

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) A) and B)
G) C) and D)

Question 15

Why are you,as a student,already somewhat of a marketing expert before taking this course?
 Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Accepted Answer

Students are,in a sense,marketing expert...

Question 16

Today,the standards of marketing practice have shifted from the interests of producers to the interests of

Accepted Answer

A)   nonprofit organizations.
B)   government.
C)   retailers.
D)   stockholders.
E)   consumers.F) C) and E)
G) A) and E)

Question 17

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 C)
G) D) and E)

Question 18

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

Accepted Answer

Traditionally,many marketing executives ...

Question 19

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Accepted Answer

A)   demographic clusters.
B)   organizational buyers.
C)   ultimate consumers.
D)   market segments.
E)   qualified prospects.F) B) and C)
G) B) and E)

Question 20

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) A) and C)

Exam 1: Creating Customer Relationships and Value Through Marketing

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

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Correct Answer
verified

Satisfying consumer needs is accomplished by

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

Why are you,as a student,already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Correct Answer
verified
Students are,in a sense,marketing expert...
View Answer

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 is said to have a

Correct Answer
verified

A target market refers to

Correct Answer
verified

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

Correct Answer
verified
A target market is a specific group of p...
View Answer

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

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 Answer
verified

All of the following are current or prospective distribution channels for Chobani yogurt except which?

Correct Answer
verified

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Correct Answer
verified

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Correct Answer
verified

Today,the standards of marketing practice have shifted from the interests of producers to the interests of

Correct Answer
verified

A factor that might doom a product in the marketplace is referred to as

Correct Answer
verified

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

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

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Correct AnswerverifiedShow Answer

Satisfying consumer needs is accomplished by

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

Why are you,as a student,already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Correct AnswerverifiedStudents are,in a sense,marketing expert...View AnswerShow Answer

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 is said to have a

Correct AnswerverifiedShow Answer

A target market refers to

Correct AnswerverifiedShow Answer

Describe two different target markets for two different products or services you,your friends,or your family have recently purchased or used.

Correct AnswerverifiedA target market is a specific group of p...View AnswerShow Answer

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

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

All of the following are current or prospective distribution channels for Chobani yogurt except which?

Correct AnswerverifiedShow Answer

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Correct AnswerverifiedShow Answer

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight,the friendliness of the flight attendants,and the comfortable seating.Singapore Air creates customer value by providing its customers with

Correct AnswerverifiedShow Answer

Today,the standards of marketing practice have shifted from the interests of producers to the interests of

Correct AnswerverifiedShow Answer

A factor that might doom a product in the marketplace is referred to as

Correct AnswerverifiedShow Answer

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Traditionally,many marketing executives ...
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Correct Answer
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Students are,in a sense,marketing expert...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A target market is a specific group of p...
View Answer

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