Question 1

To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Accepted Answer

A)  change
B)  create
C)  manipulate
D)  discover
E)  measureF) A) and D)
G) None of the above

Question 2

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as __________.

Accepted Answer

A)  manufacturing
B)  advertising
C)  marketing
D)  selling
E)  promotionF) D) and E)
G) A) and D)

Question 3

When a company places an ad on Google, the action is a tactic of the __________ element of the marketing mix.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  processF) B) and D)
G) A) and E)

Question 4

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

Accepted Answer

A)  market segment
B)  target market
C)  customer base
D)  ultimate consumer
E)  preferred customerF) A) and E)
G) B) and E)

Question 5

Showstoppers refer to

Accepted Answer

A)  creative or innovative members of a marketing team.
B)  unexpected alternative uses for a product that result in a sudden increase in sales.
C)  factors that might doom a product in the marketplace.
D)  a sudden loss of financial backing even though the item is in production.
E)  a situation when a competitor's product suddenly beats a firm's new product to the marketplacE.Showstoppers are factors that might doom a product in the marketplace.F) C) and D)
G) B) and E)

Question 6

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

Accepted Answer

A)  the 5 Fs of marketing
B)  environmental forces
C)  business conditions
D)  a marketing ecosystem
E)  a business sphereF) C) and E)
G) All of the above

Question 7

Recently, Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________, including personal attention from employees in the store.

Accepted Answer

A)  customer value proposition
B)  relationship marketing
C)  customer experience
D)  internal marketing
E)  customer relationship managementF) B) and E)
G) B) and C)

Question 8

A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Accepted Answer

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

Question 9

Which of the following is an example of possession utility?

Accepted Answer

A)  an iPhone with a large selection of new "apps"
B)  the local dairy that offers to deliver bottles of milk to a customer's doorstep
C)  disposable diapers that come equipped with resealable tabs
D)  a gourmet food store that carries a line of ready-made salads
E)  a mobile phone company that offers six-month financing, same as cashF) A) and B)
G) A) and C)

Question 10

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)  one or more specific groups of 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 C)
G) B) and D)

Question 11

-In Figure 1-1 above, the center ring E in an organization consists of __________, which oversees the departments surrounding it.

Accepted Answer

A)  marketing.
B)  manufacturing.
C)  human resources.
D)  senior management.
E)  financeF) B) and E)
G) A) and B)

Question 12

In 1952, General Electric's annual report stated, "The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Accepted Answer

A)  sustainability perspective.
B)  age of consumerism.
C)  sales concept.
D)  marketing concept.
E)  customer relationship management concept.F) A) and E)
G) C) and D)

Question 13

Which of the following is NOT an environmental force?

Accepted Answer

A)  economic
B)  regulatory
C)  social
D)  commercial
E)  technologicalF) B) and E)
G) A) and D)

Question 14

What kinds of organization engages 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 has a profit motivationF) A) and D)
G) A) and C)

Question 15

An organization's stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?

Accepted Answer

A)  All are stakeholders and should benefit from the marketing of an organization's offering.
B)  Everyone has a say in the ultimate design of a product.
C)  Everyone is legally culpable if something goes wrong with a product.
D)  All have to make some type of direct financial investment in the organization so it can profitably sell its products.
E)  All use the products and/or services marketed by the organization.F) All of the above
G) B) and E)

Question 16

What four factors are required for marketing to occur?

Accepted Answer

For marketing to occur, four factors are...

Question 17

Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making. Incorporate marketing terms in your response.

Accepted Answer

Most colleges and universities offer som...

Question 18

The benefits or customer value received by users of a product is called __________.

Accepted Answer

A)  utility
B)  synergy
C)  consumerism
D)  cost-benefit ratio
E)  customer lifetime valueF) All of the above
G) D) and E)

Question 19

All of the following are departments in a typical organization EXCEPT:

Accepted Answer

A)  finance.
B)  manufacturing.
C)  information systems.
D)  human resources.
E)  suppliers.F) All of the above
G) C) and D)

Question 20

-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 communicatF) A) and B)
G) D) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

In 1952, General Electric's annual report stated, "The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Correct Answer
verified

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as __________.

Correct Answer
verified

The benefits or customer value received by users of a product is called __________.

Correct Answer
verified

Recently, Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________, including personal attention from employees in the store.

Correct Answer
verified

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

Correct Answer
verified

An organization's stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?

Correct Answer
verified

Showstoppers refer to

Correct Answer
verified

To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Correct Answer
verified

When a company places an ad on Google, the action is a tactic of the __________ element of the marketing mix.

Correct Answer
verified

What four factors are required for marketing to occur?

Correct Answer
verified
For marketing to occur, four factors are...
View Answer

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

Correct Answer
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-In Figure 1-1 above, the center ring E in an organization consists of __________, which oversees the departments surrounding it.

Correct Answer
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Which of the following is an example of possession utility?

Correct Answer
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A target market refers to

Correct Answer
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Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making. Incorporate marketing terms in your response.

Correct Answer
verified
Most colleges and universities offer som...
View Answer

What kinds of organization engages in marketing?

Correct Answer
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Which of the following is NOT an environmental force?

Correct Answer
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Correct Answer
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All of the following are departments in a typical organization EXCEPT:

Correct Answer
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A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

In 1952, General Electric's annual report stated, "The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Correct AnswerverifiedShow Answer

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as __________.

Correct AnswerverifiedShow Answer

The benefits or customer value received by users of a product is called __________.

Correct AnswerverifiedShow Answer

Recently, Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________, including personal attention from employees in the store.

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 a(n) __________.

Correct AnswerverifiedShow Answer

An organization's stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?

Correct AnswerverifiedShow Answer

Showstoppers refer to

Correct AnswerverifiedShow Answer

To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Correct AnswerverifiedShow Answer

When a company places an ad on Google, the action is a tactic of the __________ element of the marketing mix.

Correct AnswerverifiedShow Answer

What four factors are required for marketing to occur?

Correct AnswerverifiedFor marketing to occur, four factors are...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

-In Figure 1-1 above, the center ring E in an organization consists of __________, which oversees the departments surrounding it.

Correct AnswerverifiedShow Answer

Which of the following is an example of possession utility?

Correct AnswerverifiedShow Answer

A target market refers to

Correct AnswerverifiedShow Answer

Do college students have a choice in which classes they take to earn a degree? Use what you have learned about the controllable and uncontrollable aspects of marketing in terms of how they might relate to course selection decision-making. Incorporate marketing terms in your response.

Correct AnswerverifiedMost colleges and universities offer som...View AnswerShow Answer

What kinds of organization engages in marketing?

Correct AnswerverifiedShow Answer

Which of the following is NOT an environmental force?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are departments in a typical organization EXCEPT:

Correct AnswerverifiedShow Answer

A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified
For marketing to occur, four factors are...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Most colleges and universities offer som...
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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