Question 1

The __________ concept means that an organization strives to satisfy consumer needs while achieving its goals.

Accepted Answer

A)   marketing
B)   sales
C)   production
D)   societal benefit
E)   customer relationshipF) A) and B)
G) B) and D)

Question 2

A college student is taking a full course load,working 20 hours per week,and still has to take out a student loan to cover tuition.One day,he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000) and feels he just has to have one for himself.What factor is most likely to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?

Accepted Answer

A)   The local Lexus dealer only has one Lexus LFA sports coupe in stock-red, which is the color he wants.
B)   The student does not have the resources to qualify for a $375,000 auto loan.
C)   Although the Lexus LFA sports coupe is a great car, there may be other cars with better gas mileage and resale value.
D)   He's afraid that if someone at school sees him with the car, he might lose his student loan.
E)   His girlfriend wants him to drive a Kia Soul.F) A) and B)
G) C) and E)

Question 3

Steve wants to eat a Cool Mint Chocolate Clif Bar because,based on his past experience,he knows it will satisfy his hunger

Accepted Answer

A)   preference.
B)   need.
C)   utility.
D)   want.
E)   expression.F) A) and E)
G) B) and C)

Question 4

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Accepted Answer

A)   financial remuneration.
B)   exchange.
C)   countertrade.
D)   barter.
E)   marketing.F) B) and C)
G) All of the above

Question 5

In our free enterprise society,which three specific groups benefit from effective marketing?

Accepted Answer

The three specific groups that benefit f...

Question 6

A typical marketing department both shapes and ____________ its relationship with internal and external groups.

Accepted Answer

A)   is shaped by
B)   organizes
C)   motivates
D)   determines
E)   dominatesF) A) and B)
G) None of the above

Question 7

Market segments refer to

Accepted Answer

A)   the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)   all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)   the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)   the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E)   all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.F) B) and E)
G) B) and C)

Question 8

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Accepted Answer

Marketing creates utility,the benefits o...

Question 9

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as

Accepted Answer

A)   a market segment.
B)   a target market.
C)   a customer base.
D)   an ultimate consumer.
E)   a preferred customer.F) A) and C)
G) All of the above

Question 10

The Arizona Biltmore in Phoenix is a resort hotel located less than a mile from the Biltmore Fashion Park,a large upscale shopping mall.The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states.Which of the following marketing actions would most likely help The Arizona Biltmore communicate with potential convention attendees?

Accepted Answer

A)   place an ad in the in-flight magazines of all the major airlines targeting business/first-class fliers
B)   send a mass mailing to all local businesses
C)   set up information kiosks at several locations within the Biltmore Fashion Park
D)   offer free made-to-order breakfasts for guests staying at the hotel on business
E)   offer special discount rates to guests coming from the East CoastF) A) and C)
G) A) and D)

Question 11

Which of the following groups would be the least likely target market for a company producing canned food in single-serving sizes?

Accepted Answer

A)   single adults
B)   school kitchens
C)   campers
D)   senior citizens
E)   vending machine ownersF) A) and B)
G) B) and E)

Question 12

Which of the following products might have failed in the marketplace because it was perceived to have limited usefulness?

Accepted Answer

A)   Pepsi True soft drink
B)   Hot Pockets
C)   Bell bicycle helmets
D)   3M Post-it Flag+ Highlighter
E)   Apple Newton MessagePadF) All of the above
G) B) and E)

Question 13

Mizuno designs and sells high quality baseball gloves.Who does 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 Dick's Sporting Goods 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)   Actually, all stakeholders should be benefit from Mizuno's marketing efforts, even society at large.F) A) and B)
G) A) and C)

Question 14

The internal response that customers have to all aspects of an organization and its offerings is referred to as

Accepted Answer

A)   customer experience.
B)   relationship marketing.
C)   internal customer audit.
D)   internal marketing.
E)   customer relationship management.F) A) and E)
G) D) and E)

Question 15

Define the marketing concept.

Accepted Answer

The marketing concept is the i...

Question 16

Customer relationship management refers to

Accepted Answer

A)   the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
B)   the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace.
C)   the idea that an organization should (1)  strive to satisfy the needs of consumers (2)  while also trying to achieve the organization's goals.
D)   the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
E)   the cluster of benefits that an organization promises customers to satisfy their needs.F) A) and E)
G) C) and E)

Question 17

Which of the following statements about marketing departments is most accurate?

Accepted Answer

A)   The marketing department typically works as an independent unit, mostly interacting with other parts of the business only to direct product promotion.
B)   The marketing department should set the firm's objectives, based on its knowledge of the market and environmental forces.
C)   The marketing department is only responsible for two of the four Ps.
D)   The marketing department is only responsible for market research, supervision of product development, and product promotion.
E)   The marketing department must work closely with other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.F) A) and C)
G) C) and D)

Question 18

A __________ occurs when a person feels deprived of basic necessities such as food,clothing,and shelter.

Accepted Answer

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

Question 19

Robert was running low on cash when he went to buy his marketing textbook on the first day of class.Luckily,the bookstore accepted his VISA card,so the bookstore created __________ utility for Robert.

Accepted Answer

A)   form
B)   time
C)   price
D)   possession
E)   placeF) C) and E)
G) A) and D)

Question 20

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

Accepted Answer

A)   organizational buyers.
B)   household prospects.
C)   ultimate consumers.
D)   a target market.
E)   sellers.F) D) and E)
G) A) and B)

Exam 1: Creating Customer Relationships and Value Through Marketing

A __________ occurs when a person feels deprived of basic necessities such as food,clothing,and shelter.

Correct Answer
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The __________ concept means that an organization strives to satisfy consumer needs while achieving its goals.

Correct Answer
verified

In our free enterprise society,which three specific groups benefit from effective marketing?

Correct Answer
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The three specific groups that benefit f...
View Answer

Robert was running low on cash when he went to buy his marketing textbook on the first day of class.Luckily,the bookstore accepted his VISA card,so the bookstore created __________ utility for Robert.

Correct Answer
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The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as

Correct Answer
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Steve wants to eat a Cool Mint Chocolate Clif Bar because,based on his past experience,he knows it will satisfy his hunger

Correct Answer
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Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Correct Answer
verified
Marketing creates utility,the benefits o...
View Answer

Correct Answer
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Market segments refer to

Correct Answer
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Mizuno designs and sells high quality baseball gloves.Who does benefit from the firm's marketing activities for its gloves?

Correct Answer
verified

A typical marketing department both shapes and ____________ its relationship with internal and external groups.

Correct Answer
verified

Which of the following groups would be the least likely target market for a company producing canned food in single-serving sizes?

Correct Answer
verified

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

Correct Answer
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Which of the following statements about marketing departments is most accurate?

Correct Answer
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Customer relationship management refers to

Correct Answer
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Define the marketing concept.

Correct Answer
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The marketing concept is the i...
View Answer

Correct Answer
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The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Correct Answer
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Which of the following products might have failed in the marketplace because it was perceived to have limited usefulness?

Correct Answer
verified

The internal response that customers have to all aspects of an organization and its offerings is referred to as

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

A __________ occurs when a person feels deprived of basic necessities such as food,clothing,and shelter.

Correct AnswerverifiedShow Answer

The __________ concept means that an organization strives to satisfy consumer needs while achieving its goals.

Correct AnswerverifiedShow Answer

In our free enterprise society,which three specific groups benefit from effective marketing?

Correct AnswerverifiedThe three specific groups that benefit f...View AnswerShow Answer

Robert was running low on cash when he went to buy his marketing textbook on the first day of class.Luckily,the bookstore accepted his VISA card,so the bookstore created __________ utility for Robert.

Correct AnswerverifiedShow Answer

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as

Correct AnswerverifiedShow Answer

Steve wants to eat a Cool Mint Chocolate Clif Bar because,based on his past experience,he knows it will satisfy his hunger

Correct AnswerverifiedShow Answer

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Correct AnswerverifiedMarketing creates utility,the benefits o...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Market segments refer to

Correct AnswerverifiedShow Answer

Mizuno designs and sells high quality baseball gloves.Who does benefit from the firm's marketing activities for its gloves?

Correct AnswerverifiedShow Answer

A typical marketing department both shapes and ____________ its relationship with internal and external groups.

Correct AnswerverifiedShow Answer

Which of the following groups would be the least likely target market for a company producing canned food in single-serving sizes?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements about marketing departments is most accurate?

Correct AnswerverifiedShow Answer

Customer relationship management refers to

Correct AnswerverifiedShow Answer

Define the marketing concept.

Correct AnswerverifiedThe marketing concept is the i...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Correct AnswerverifiedShow Answer

Which of the following products might have failed in the marketplace because it was perceived to have limited usefulness?

Correct AnswerverifiedShow Answer

The internal response that customers have to all aspects of an organization and its offerings is referred to as

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified
The three specific groups that benefit f...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified
Marketing creates utility,the benefits o...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

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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The marketing concept is the i...
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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