Question 1

All of the following are factors required for marketing to occur EXCEPT:

Accepted Answer

A)  a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied.
B)  something to exchange between two or more parties (individuals or organizations) .
C)  two or more parties (individuals or organizations) with the same wants.
D)  two or more parties (individuals or organizations) with unsatisfied needs.
E)  a way for the parties (individuals or organizations) to communicate.F) A) and B)
G) A) and E)

Question 2

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

Accepted Answer

A)  shoppers
B)  customer base
C)  market
D)  bazaar
E)  emporiumF) A) and B)
G) C) and D)

Question 3

Dick's Sporting Goods carries baseballs all year around.The same is true for footballs and tennis equipment.With this all-year-around strategy,Dick's Sporting Goods offers __________ utility for these products.

Accepted Answer

A)  time
B)  place
C)  possession
D)  market
E)  formF) A) and B)
G) A) and C)

Question 4

The process of turning corn into ethanol shows how BioFuel Energy,a Minnesota ethanol producer,can create __________ utility.

Accepted Answer

A)  time
B)  place
C)  possession
D)  market
E)  formF) C) and E)
G) B) and E)

Question 5

Which of the following statements about customer value is MOST ACCURATE?

Accepted Answer

A)  Target customers assess customer value in terms of the combination of benefits (quality,convenience,etc. ) ,regardless of the price.
B)  Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)  Research suggests that firms can be most successful by being all things to all consumers.
D)  It is impossible to place a dollar value on a loyal,satisfied customer.
E)  To create value for targeted buyers,firms must build long-term relationships with them.F) C) and D)
G) C) and E)

Question 6

Many companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Accepted Answer

A)  marketing concept.
B)  customer relationship management concept.
C)  consumerism.
D)  social entrepreneurship.
E)  cause marketing.F) A) and E)
G) C) and D)

Question 7

A business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school.He knows that any money he spends on a tutor will be well worth it if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.To ensure that marketing occurs with her,he should

Accepted Answer

A)  buy a GMAT study guide at his college bookstore.
B)  find out what the minimum score he needs to get into the graduate business school of his choice.
C)  attempt to find the tutor by conducting a Google search for her website,looking for flyers in the students' business lounge,obtaining copies of the college newspaper paper and looking for her ad,or asking his friends whether they know of her and her tutoring services.
D)  consider alternatives to graduate school in case the scores he receives by taking the test without any help are not sufficient admission.
E)  apply for delayed admission if he can't find this tutor.F) All of the above
G) A) and B)

Question 8

According to the textbook,Starbucks provides its customers with the best

Accepted Answer

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

Question 9

In Figure 1-3 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 C)
G) All of the above

Question 10

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) D) and E)

Question 11

Which element of the marketing mix is demonstrated when Mars,Inc.has a sale on M&MS® brand candies?

Accepted Answer

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

Question 12

Which of the following statements about marketing departments is MOST ACCURATE?

Accepted Answer

A)  The marketing department should work solely with people within its own department.
B)  The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces.
C)  The marketing department is only responsible for the 4 Ps,not the 7 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 a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.F) A) and B)
G) A) and C)

Question 13

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

Accepted Answer

A)  33
B)  50
C)  67
D)  75
E)  94F) A) and E)
G) B) and D)

Question 14

As organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

Accepted Answer

A)  society at large
B)  government
C)  suppliers
D)  resellers
E)  producersF) B) and D)
G) None of the above

Question 15

Which of the following statements about environmental forces is MOST ACCURATE?

Accepted Answer

A)  Environmental forces are almost always controllable if the marketing department correctly scans them.
B)  An organization that incorporates the marketing concept can exert just as much influence on environmental forces as they can exert on that organization.
C)  Environmental forces consistently result in negative outcomes for an organization.
D)  Some environmental forces can actually enhance a firm's marketing opportunities.
E)  Environmental forces can almost always be predicted.F) B) and E)
G) None of the above

Question 16

Mark Zuckerberg 's launch of "TheFacebook.com" website became a huge success.Yet,more than half of all new businesses fail within __________ years of their launch.

Accepted Answer

A)  two
B)  three
C)  four
D)  five
E)  tenF) A) and D)
G) B) and C)

Question 17

What customer value strategy does Starbucks Coffee Company deliver to its customers when it offers them its Starbucks Via Ready Brew Refreshers?

Accepted Answer

A)  best product/service
B)  best customer service
C)  best value
D)  best assortment
E)  best priceF) D) and E)
G) C) and D)

Question 18

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 19

The element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

Accepted Answer

A)  a product.
B)  the price.
C)  promotion.
D)  the place or distribution.
E)  a market segment.F) A) and D)
G) C) and D)

Question 20

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Accepted Answer

A)  a product.
B)  the price.
C)  promotion.
D)  the place or distribution.
E)  transportation.F) B) and C)
G) C) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

Correct Answer
verified

Many companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Correct Answer
verified

As organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

Correct Answer
verified

Mark Zuckerberg 's launch of "TheFacebook.com" website became a huge success.Yet,more than half of all new businesses fail within __________ years of their launch.

Correct Answer
verified

All of the following are factors required for marketing to occur EXCEPT:

Correct Answer
verified

Which of the following statements about customer value is MOST ACCURATE?

Correct Answer
verified

The process of turning corn into ethanol shows how BioFuel Energy,a Minnesota ethanol producer,can create __________ utility.

Correct Answer
verified

What customer value strategy does Starbucks Coffee Company deliver to its customers when it offers them its Starbucks Via Ready Brew Refreshers?

Correct Answer
verified

The element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

Correct Answer
verified

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

Which of the following statements about environmental forces is MOST ACCURATE?

Correct Answer
verified

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Correct Answer
verified

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

Correct Answer
verified

Which of the following statements about marketing departments is MOST ACCURATE?

Correct Answer
verified

Dick's Sporting Goods carries baseballs all year around.The same is true for footballs and tennis equipment.With this all-year-around strategy,Dick's Sporting Goods offers __________ utility for these products.

Correct Answer
verified

In Figure 1-3 above,"B" is accomplished by __________.

Correct Answer
verified

Which element of the marketing mix is demonstrated when Mars,Inc.has a sale on M&MS^® brand candies?

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

According to the textbook,Starbucks provides its customers with the best

Correct Answer
verified

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

Correct AnswerverifiedShow Answer

Many companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Correct AnswerverifiedShow Answer

As organizations have changed their orientation,society's expectations of marketers have also changed.Today,the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

Correct AnswerverifiedShow Answer

Mark Zuckerberg 's launch of "TheFacebook.com" website became a huge success.Yet,more than half of all new businesses fail within __________ years of their launch.

Correct AnswerverifiedShow Answer

All of the following are factors required for marketing to occur EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following statements about customer value is MOST ACCURATE?

Correct AnswerverifiedShow Answer

The process of turning corn into ethanol shows how BioFuel Energy,a Minnesota ethanol producer,can create __________ utility.

Correct AnswerverifiedShow Answer

What customer value strategy does Starbucks Coffee Company deliver to its customers when it offers them its Starbucks Via Ready Brew Refreshers?

Correct AnswerverifiedShow Answer

The element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

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

Which of the following statements about environmental forces is MOST ACCURATE?

Correct AnswerverifiedShow Answer

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Correct AnswerverifiedShow Answer

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

Correct AnswerverifiedShow Answer

Which of the following statements about marketing departments is MOST ACCURATE?

Correct AnswerverifiedShow Answer

Dick's Sporting Goods carries baseballs all year around.The same is true for footballs and tennis equipment.With this all-year-around strategy,Dick's Sporting Goods offers __________ utility for these products.

Correct AnswerverifiedShow Answer

In Figure 1-3 above,"B" is accomplished by __________.

Correct AnswerverifiedShow Answer

Which element of the marketing mix is demonstrated when Mars,Inc.has a sale on M&MS® brand candies?

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

According to the textbook,Starbucks provides its customers with the best

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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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
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Which element of the marketing mix is demonstrated when Mars,Inc.has a sale on M&MS^® brand candies?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified