Question 1

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

Question 2

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) All of the above
G) A) and B)

Question 3

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

Accepted Answer

A)  Relationship marketing has a short-term focus: increasing profits for the firm.
B)  Relationship marketing begins before and ends after the sale.
C)  Relationship marketing occurs when there is a personal,ongoing relationship between an organization and its customers.
D)  Very few companies today are engaged in relationship marketing.
E)  The Internet has allowed marketers to establish more personal relationships with customers.F) B) and E)
G) None of the above

Question 4

The element of the marketing mix that describes what is exchanged for a product is known as

Accepted Answer

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

Question 5

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) All of the above
G) A) and E)

Question 6

Which of the following statements about 3M's market research prior to introducing the Post-it Flag Highlighter is most accurate?

Accepted Answer

A)  David Windorski worked with clay and wood models to see how much additional weight students would be willing to carry in their backpacks.
B)  David Windorski asked students to dump the contents of their backpacks to make sure no clay prototype was being stolen.
C)  David Windorski used focus groups,observed students' studying behavior,and even gave out trial Post-it Flag Highlighters to a sample of students to try for a month.
D)  David Windorski hired students to act as "brand evangelists" to handout promotional samples of Post-it Flag Highlighters to other students at their respective universities and colleges during "move-in day."
E)  David Windorski hired students as "mystery shoppers" to see what office supplies students bought at their college bookstores during the week before as well as the first week of classes.F) C) and D)
G) B) and E)

Question 7

For marketing to occur,there must be two or more parties with unsatisfied needs.Dr.Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be

Accepted Answer

A)  people who are nostalgic about childhood summers.
B)  people with a desire for a beverage other than soda or water.
C)  product demonstrators who offer samples of Country Time lemonade to shoppers at local supermarkets.
D)  a local distributor of alcoholic beverages.
E)  a nutritionist promoting the benefits of fresh fruit in people's diets.F) A) and B)
G) B) and E)

Question 8

Pending federal legislation will require all online retailers to collect state sales taxes from customers.This would affect online sellers such as Virtual Vineyards,which now only collects state sales taxes from customers who reside in California-its home state.This pending legislation would be an example of which environmental force?

Accepted Answer

A)  social
B)  economic
C)  technological
D)  competitive
E)  regulatoryF) C) and D)
G) B) and D)

Question 9

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,the student sees a classmate driving a Lexus sports coupe 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 a Lexus dealer?

Accepted Answer

A)  The local Lexus dealer does not have any sports coupes in stock.
B)  The student does not have the resources to qualify for a $50,000 auto loan.
C)  Although the Lexus 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) B) and E)
G) A) and B)

Question 10

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Accepted Answer

A)  "We'd better do some market testing to determine why people are dissatisfied."
B)  "Perhaps we should make candy bars with raisins."
C)  "Let's put more aggressive salespeople in the field."
D)  "Let's lower the price and change the name."
E)  "Don't worry about it; we're the largest candy manufacturer in the area.Sooner or later they'll get hungry enough that they'll come to us."F) A) and D)
G) A) 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) D) and E)
G) A) and B)

Question 12

During October,kiosk or "pop-up" stores often appear in many malls for the holiday season.Typically,these kiosks sell gift boxes of cheese,jewelry,and other items people think are appropriate seasonal gifts.In January,these "pop-up" retailers vanish.Is it possible for such a retailer to use relationship marketing? Explain your answer.

Accepted Answer

Generally,students will say "no" based o...

Question 13

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

Question 14

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 15

Walmart,Southwest Airlines,and Costco all have been successful by offering consumers the best

Accepted Answer

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

Question 16

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) B) and E)
G) C) and E)

Question 17

The marketing mix refers to

Accepted Answer

A)  the multiple sales and advertising strategies that can be used to promote a product.
B)  the controllable forces-social,economic,technological,competitive,and regulatory-to which a marketing manager must constantly adapt.
C)  the blending of different communication and delivery channels that are mutually reinforcing in attracting,retaining,and building relationships with consumers who shop and buy in traditional intermediaries and online.
D)  the marketing manager's controllable factors that can be used to solve marketing problems.
E)  a set of complementary products that when sold together generate more sales than when sold separately.F) A) and D)
G) A) and E)

Question 18

The five major environmental forces in a marketing decision are

Accepted Answer

A)  climate change,natural resources,pollution,natural disasters,and global conflict (war) .
B)  social,technological,economic,competitive,and regulatory.
C)  corporate ownership,internal management,supplier relations,manufacturing capabilities,and consumer demand.
D)  product,price,promotion,place,and people.
E)  ethics,sustainability,cultural awareness,diversity,and values.F) All of the above
G) D) and E)

Question 19

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Accepted Answer

A)  production
B)  sales
C)  marketing concept
D)  customer relationship
E)  societal marketingF) A) and D)
G) A) and C)

Question 20

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Accepted Answer

A)  all people with an interest in professional football
B)  all people in the Midwest who have an interest in sports
C)  all men who played on a varsity football team in high school
D)  all people in the Indianapolis and surrounding areas interested in football
E)  all people in Indiana who watch football on TVF) C) and D)
G) B) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Walmart,Southwest Airlines,and Costco all have been successful by offering consumers the best

Correct Answer
verified

Correct Answer
verified
Generally,students will say "no" based o...
View 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 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

The five major environmental forces in a marketing decision are

Correct Answer
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A customer value proposition is

Correct Answer
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For marketing to occur,there must be two or more parties with unsatisfied needs.Dr.Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be

Correct Answer
verified

The marketing mix refers 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

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Correct Answer
verified

The element of the marketing mix that describes what is exchanged for a product is known as

Correct Answer
verified

Which of the following statements about 3M's market research prior to introducing the Post-it Flag Highlighter is most accurate?

Correct Answer
verified

Correct Answer
verified

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Walmart,Southwest Airlines,and Costco all have been successful by offering consumers the best

Correct AnswerverifiedShow Answer

Correct AnswerverifiedGenerally,students will say "no" based o...View AnswerShow 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

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

The five major environmental forces in a marketing decision are

Correct AnswerverifiedShow Answer

A customer value proposition is

Correct AnswerverifiedShow Answer

For marketing to occur,there must be two or more parties with unsatisfied needs.Dr.Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be

Correct AnswerverifiedShow Answer

The marketing mix refers 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

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Correct AnswerverifiedShow Answer

The element of the marketing mix that describes what is exchanged for a product is known as

Correct AnswerverifiedShow Answer

Which of the following statements about 3M's market research prior to introducing the Post-it Flag Highlighter is most accurate?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
Generally,students will say "no" based o...
View Answer

Correct Answer
verified

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