Question 1

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 expe...

Question 2

In a marketing context, a market refers to

Accepted Answer

A)  people with a similar want for a particular product or service.
B)  people with both the desire and ability to buy a specific offering.
C)  the central location for all buying and selling of products and services.
D)  an open space or covered building where vendors convene to sell their offerings.
E)  the free the operation of supply and demand.F) D) and E)
G) All of the above

Question 3

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Accepted Answer

A)  relationship marketing.
B)  exclusive dealing.
C)  loyalty marketing.
D)  customer relationship management.
E)  symbiotic marketing.F) B) and C)
G) B) and E)

Question 4

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda decided to donate a pint of blood. After she did, Amanda felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?

Accepted Answer

A)  Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity.
B)  Yes, because the donated blood was exchanged for a feeling of satisfaction.
C)  No, because the Red Cross is nonprofit organization.
D)  No, because no money changed hands.
E)  No, because the Red Cross, a service organization, did not provide Amanda with a product.F) C) and E)
G) B) and D)

Question 5

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 6

The idea that individuals and organizations are accountable to a larger society is known as

Accepted Answer

A)  the societal marketing concept.
B)  social responsibility.
C)  consumerism.
D)  sustainable development.
E)  capitalism.F) A) and E)
G) A) and D)

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 D)

Question 8

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Accepted Answer

Product actions. (1) In 2005, Turkish im...

Question 9

The __________ element of the marketing mix is demonstrated when a company places an ad on a highway billboard.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  processF) A) and E)
G) None of the above

Question 10

Explain the marketing program 3M used to reach the office worker segment with its Post-it Flag Pen.

Accepted Answer

A marketing program integrates the marke...

Question 11

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Accepted Answer

A)  product
B)  price
C)  production
D)  promotion
E)  placeF) A) and B)
G) A) and C)

Question 12

A local college of business offers an outstanding graduate business school education program. Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management. Upon graduating, she is offered a high paying, fulfilling position. Was this a marketing exchange?

Accepted Answer

A)  No, because the university earned a profit from Marissa's tuition.
B)  No, because money was exchanged in the form of tuition and Marissa's income will come from her employer, not the graduate school.
C)  No, because the school did not provide Marissa with a tangible product, only the potential of an education.
D)  Yes, because the university promised Marissa she would graduate on time, and she did.
E)  Yes, because paying tuition was exchanged for knowledge that directly led to Marissa's high paying, fulfilling new job.F) C) and D)
G) B) and C)

Question 13

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Accepted Answer

A)  marketing strategy.
B)  macromarketing agenda.
C)  micromarketing agenda.
D)  marketing program.
E)  marketing concept.F) A) and B)
G) C) and D)

Question 14

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

Accepted Answer

A)  Anticipate the future five years out in terms of product form, ingredients, and packaging - to invent the "toothpaste of tomorrow!"
B)  Give the product a mysterious name that is unrelated the product's benefits but instead provokes consumer curiosity.
C)  Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay.
D)  Create unusual packaging that has special shelving requirements.
E)  Study past toothpaste product failures and learn from them.F) None of the above
G) C) and D)

Question 15

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) None of the above
G) A) and C)

Question 16

Ultimate consumers refer to

Accepted Answer

A)  the people who use the products and services purchased for a household.
B)  people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
C)  people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
D)  those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
E)  one or more specific groups of potential customers toward whom an organization directs its marketing program.F) C) and D)
G) A) and C)

Question 17

-In Figure 1-2 above, "B" 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 marketsF) A) and E)
G) B) and C)

Question 18

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

Accepted Answer

A)  utility
B)  performance
C)  service
D)  value
E)  ideaF) B) and D)
G) B) and C)

Question 19

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, loaning 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 20

Marketing managers used 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 u...

Exam 1: Creating Customer Relationships and Value Through Marketing

Marketing managers used 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 u...
View Answer

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

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

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 expe...
View Answer

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda decided to donate a pint of blood. After she did, Amanda felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?

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

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Correct Answer
verified
Product actions. (1) In 2005, Turkish im...
View Answer

The idea that individuals and organizations are accountable to a larger society is known as

Correct Answer
verified

The __________ element of the marketing mix is demonstrated when a company places an ad on a highway billboard.

Correct Answer
verified

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

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Correct Answer
verified

A local college of business offers an outstanding graduate business school education program. Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management. Upon graduating, she is offered a high paying, fulfilling position. Was this a marketing exchange?

Correct Answer
verified

Ultimate consumers refer to

Correct Answer
verified

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Correct Answer
verified

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

Correct Answer
verified

A customer value proposition is

Correct Answer
verified

In a marketing context, a market refers to

Correct Answer
verified

Explain the marketing program 3M used to reach the office worker segment with its Post-it Flag Pen.

Correct Answer
verified
A marketing program integrates the marke...
View Answer

-In Figure 1-2 above, "B" is accomplished by __________.

Correct Answer
verified

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Marketing managers used 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 u...View AnswerShow Answer

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

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

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 expe...View AnswerShow Answer

The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda decided to donate a pint of blood. After she did, Amanda felt happy that she had performed a good deed. Did an exchange occur in a marketing sense?

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

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Correct AnswerverifiedProduct actions. (1) In 2005, Turkish im...View AnswerShow Answer

The idea that individuals and organizations are accountable to a larger society is known as

Correct AnswerverifiedShow Answer

The __________ element of the marketing mix is demonstrated when a company places an ad on a highway billboard.

Correct AnswerverifiedShow Answer

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

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Correct AnswerverifiedShow Answer

A local college of business offers an outstanding graduate business school education program. Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management. Upon graduating, she is offered a high paying, fulfilling position. Was this a marketing exchange?

Correct AnswerverifiedShow Answer

Ultimate consumers refer to

Correct AnswerverifiedShow Answer

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A customer value proposition is

Correct AnswerverifiedShow Answer

In a marketing context, a market refers to

Correct AnswerverifiedShow Answer

Explain the marketing program 3M used to reach the office worker segment with its Post-it Flag Pen.

Correct AnswerverifiedA marketing program integrates the marke...View AnswerShow Answer

-In Figure 1-2 above, "B" is accomplished by __________.

Correct AnswerverifiedShow Answer

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Correct AnswerverifiedShow Answer

Correct Answer
verified
To reach consumers, marketing managers u...
View Answer

Correct Answer
verified

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

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Product actions. (1) In 2005, Turkish im...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
To answer this question, students will n...
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
A marketing program integrates the marke...
View Answer

Correct Answer
verified

Correct Answer
verified