Question 1

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well being is known as

Accepted Answer

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

Question 2

A growing trend to "Buy American" has caused U.S.automakers to increase political pressure on Washington to pass legislation for more restrictive quotas on Japanese car imports.In addition,a decline in the value of the U.S.dollar would be instrumental in Toyota's decision to build a manufacturing plant in the United States instead of continuing to export cars from Japan.If Toyota builds the plant,its decision would reflect

Accepted Answer

A)  a reactive strategy that would impact the competitive environmental force.
B)  a proactive maneuver to manipulate and impact the social environmental force.
C)  a positive result from regulatory and economic environmental forces.
D)  a positive response to a technological environmental force.
E)  a negative impact as a result of adverse competitive,regulatory,and technological environmental forces.F) All of the above
G) None of the above

Question 3

The American Red Cross created a series of advertisements to encourage people to donate blood.After viewing an ad,Amanda went to the local Red Cross office and donated a pint of her blood.Amanda returned home feeling 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) A) and B)
G) A) and C)

Question 4

Marketing refers to

Accepted Answer

A)  the production of products or services that will generate the highest return on investment.
B)  the strategies used in the advertising and promotion of products and services to customers around the globe.
C)  the process of identifying target market segments for a product or service.
D)  the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.
E)  the activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large.F) B) and C)
G) A) and B)

Question 5

In the 19th century,the belief was that production creates its own demand.By the early 20th century,American companies began to produce more goods than buyers could consume.At the same time,competition became more significant.The usual solution was to hire more salespeople to find new buyers.This describes the __________ era.

Accepted Answer

A)  goods
B)  production
C)  sales
D)  marketing concept
E)  market orientationF) A) and E)
G) D) and E)

Question 6

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

Question 7

Which of the following statements about stakeholders is MOST ACCURATE?

Accepted Answer

A)  Ultimately,the only relevant stakeholder is the ultimate consumer.
B)  The suppliers,shareholders,employees,and customers are all stakeholders of an organization and all should benefit from the organization's marketing activities.
C)  Employees can be stakeholders only if they own shares in their company.
D)  Suppliers are the most important stakeholders because without them,products could never be produced.
E)  The only way to be a stakeholder is to have a financial investment in an organization's product,service,or idea.F) B) and E)
G) B) and C)

Question 8

TUMI brand briefcases are very expensive,high-end briefcases that are generally sold in specialty luggage shops.Which of the following groups of people would be the MOST LIKELY target market for TUMI brand briefcases?

Accepted Answer

A)  police officers
B)  executives
C)  construction workers
D)  postal workers
E)  studentsF) C) and D)
G) A) and D)

Question 9

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

Question 10

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)  suppliers
D)  resellers
E)  consumersF) All of the above
G) D) and E)

Question 11

With today's smartphones,one can watch the news,shoot videos,browse the Internet,take pictures,and listen to music.Improved new features are added with each smartphone introduced by Apple,Samsung,BlackBerry,and the like.As a result,existing customers often want to replace their existing smartphones with new models or brands every two years when their contracts expire.This increase in demand is due mostly to changes in __________,an environmental force.

Accepted Answer

A)  competition
B)  social culture
C)  technology
D)  regulations
E)  the economyF) C) and D)
G) A) and C)

Question 12

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

Accepted Answer

The Chobani product strategy stresses it...

Question 13

Which of the following statements about the marketing concept era is MOST ACCURATE?

Accepted Answer

A)  The marketing concept era can trace its roots to early Greek culture.
B)  During the marketing concept era,companies tried to satisfy the needs of consumers while also achieving their goals.
C)  During the marketing concept era,companies began to implement the idea of a marketing program.
D)  During the marketing concept era,companies believed you could produce as much as you wanted because the product would sell itself.
E)  All U.S.firms are now operating with a marketing concept era philosophy.F) A) and D)
G) C) and E)

Question 14

According to the textbook,U.S.Bank delivers customer value by providing its customers with the best

Accepted Answer

A)  assortment.
B)  products/services.
C)  price.
D)  customer service.
E)  availability.F) A) and B)
G) A) and C)

Question 15

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 C)
G) A) and E)

Question 16

Suppose you want a snack after taking this exam-a Pan Pizza from Dominos,which is located across the street from your College of Business classroom.Unfortunately,you forgot your wallet in the haste of getting to class on time to take the test.Therefore,you have no means to pay for the pizza.Which of the following reasons explain why marketing fails to occur here between you and Dominos?

Accepted Answer

A)  There are not two or more parties with unsatisfied needs.
B)  The ability to satisfy a need is missing.
C)  A desire to satisfy a need is missing.
D)  No assessments of consumer wants and needs have been made.
E)  There is no way for the parties involved to communicate.F) None of the above
G) B) and C)

Question 17

What kinds of organizations engage in marketing?

Accepted Answer

A)  only those that can afford to advertise
B)  only very large and established for profit organizations
C)  only Fortune 5,000 companies
D)  every organization regardless of the kind
E)  only the organization that wants to make a profitF) A) and B)
G) B) and E)

Question 18

Effective marketing benefits society because it

Accepted Answer

A)  reduces competition,making the playing field more even.
B)  improves the quality of products and services regardless of the cost.
C)  allows companies to charge whatever price they want,regardless of product quality.
D)  makes countries more competitive in world markets while simultaneously reducing competition in their home markets.
E)  enhances competition,which improves the quality of products and services and lowers their prices.F) B) and C)
G) A) and B)

Question 19

Mizuno designs and sells high quality baseball gloves.Who does NOT benefit from the firm's marketing activities for its gloves?

Accepted Answer

A)  a baseball or softball player who purchases a new Mizuno glove
B)  the Sports Authority salesperson who sells a customer a Mizuno glove
C)  the supplier who provided the leather to Mizuno
D)  the shareholder of Mizuno that designs and manufactures the gloves
E)  all stakeholders should be benefit from Mizuno's marketing efforts,even society at largeF) A) and E)
G) A) and D)

Question 20

An organization that focuses its efforts on (1) continuously collecting information about customers' needs; (2) sharing this information across departments;and (3) using it to create customer value is said to have a

Accepted Answer

A)  societal marketing concept.
B)  focus on macromarketing.
C)  nonprofit orientation.
D)  market orientation.
E)  profit maximization orientation.F) All of the above
G) B) and C)

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Correct Answer
verified

Which of the following statements about stakeholders is MOST ACCURATE?

Correct Answer
verified

Mizuno designs and sells high quality baseball gloves.Who does NOT benefit from the firm's marketing activities for its gloves?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
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What kinds of organizations engage in marketing?

Correct Answer
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Correct Answer
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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 Answer
verified

According to the textbook,U.S.Bank delivers customer value by providing its customers with the best

Correct Answer
verified

TUMI brand briefcases are very expensive,high-end briefcases that are generally sold in specialty luggage shops.Which of the following groups of people would be the MOST LIKELY target market for TUMI brand briefcases?

Correct Answer
verified

An organization that focuses its efforts on (1) continuously collecting information about customers' needs; (2) sharing this information across departments;and (3) using it to create customer value is said to have a

Correct Answer
verified

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well being is known as

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified
The Chobani product strategy stresses it...
View Answer

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

Correct Answer
verified

Marketing refers to

Correct Answer
verified

Effective marketing benefits society because it

Correct Answer
verified

Correct Answer
verified

Which of the following statements about the marketing concept era is MOST ACCURATE?

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Correct AnswerverifiedShow Answer

Which of the following statements about stakeholders is MOST ACCURATE?

Correct AnswerverifiedShow Answer

Mizuno designs and sells high quality baseball gloves.Who does NOT benefit from the firm's marketing activities for its gloves?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What kinds of organizations engage in marketing?

Correct AnswerverifiedShow Answer

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

According to the textbook,U.S.Bank delivers customer value by providing its customers with the best

Correct AnswerverifiedShow Answer

TUMI brand briefcases are very expensive,high-end briefcases that are generally sold in specialty luggage shops.Which of the following groups of people would be the MOST LIKELY target market for TUMI brand briefcases?

Correct AnswerverifiedShow Answer

An organization that focuses its efforts on (1) continuously collecting information about customers' needs; (2) sharing this information across departments;and (3) using it to create customer value is said to have a

Correct AnswerverifiedShow Answer

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well being is known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

Marketing refers to

Correct AnswerverifiedShow Answer

Effective marketing benefits society because it

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements about the marketing concept era is MOST ACCURATE?

Correct AnswerverifiedShow Answer

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The Chobani product strategy stresses it...
View Answer

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