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Exam 1: Creating Customer Relationships and Value Through Marketing

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Question 111

Multiple Choice

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Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you most likely expect management to make if sales of this new candy bar were much lower than expected?

A) We'd better do some market testing to determine why people are dissatisfied.
B) Perhaps we should make candy bars with raisins.
C) Let's put more aggressive salespeople in the field.
D) Let's lower the price and change the name.
E) Don't worry about it; we're the largest candy manufacturer in the area.Sooner or later they'll get hungry enough that they'll come to us.

F) A) and C)
G) C) and E)

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Question 112

Multiple Choice

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Robert could not buy his Principles of Marketing text this semester by the first day of class if the bookstore did not accept credit cards.With his credit card, he was able to have the book for his first marketing class.The credit card created __________ utility for Robert.

A) form
B) time
C) price
D) possession
E) place

F) A) and C)
G) A) and B)

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Question 113

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The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as __________.

Which era of U.S.business history does the following statement best describe? "We are in the business of satisfying needs and wants of consumers."

The first objective in marketing is to discover the __________ of prospective customers.

The element of the marketing mix that describes what is exchanged for a product is

The minds behind the YouTube concept were

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

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

Live theatre performances tends to be an experience that is consumed at the point where it is purchased.They are an example of a(n) __________.

The United States Army has recently been both praised and criticized for its use of a popular video game-America's Army designed to reach potential recruits.The game's creator Col.Casey Wardynski wanted to provide a sense of the training and teamwork one could find in the military environment.The game is designed for "boys 14 years or older;" these players represent the Army's __________.

The value to consumers that comes from having a good or service available when needed constitutes __________ utility.

FIGURE 1-7 -Using Figure 1-7 above, give 4 examples of marketing mix (4Ps) actions that 3M did to reach each office worker segment identified as A, B, C, an D with its Post-it^® Flag Pen.

Define consumer needs and wants.Can marketing shape a person's wants? Explain your answer.

FIGURE 1-1 -In Figure 1-1 above, "A" represents a firm's alliances with

Target and Toyota are both examples of organizations that provide

Companies are just beginning to use "Twitter" as a tool in their relationship marketing program.In what ways could Twitter be used to benefit both the customer and the organization?

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 is called

Many market-oriented, older, manufacturing organizations have experienced four distinct stages in the life of their firms.Beginning with the early years of the United States, list and define each of the eras culminating with the customer relationship era.

What are the two key objectives of marketing? Define exchange and explain how it supports these objectives.