Question 1

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

Question 2

Marketing discovers consumer needs by

Accepted Answer

A)  implementing a marketing program.
B)  conducting extensive marketing research.
C)  balancing the marketing mix elements-the 4 Ps of the marketing program.
D)  advertising to diverse groups of prospective buyers.
E)  copying the products and services of its competitors.F) A) and D)
G) C) and D)

Question 3

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

Accepted Answer

A)  In his first attempt,David Windorski,a 3M inventor,designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market.
B)  Paralegals were initially the intended target market for the Post-it Flag Highlighter.
C)  David Windorski,a 3M inventor,also developed the Post-it Flag Pen for the office worker segment.
D)  The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line.
E)  In his development of the Post-it Flag Highlighter,David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor.F) A) and B)
G) A) and C)

Question 4

Time Inc.has published a new magazine, All You,,which is distributed only in Walmart stores.Who is the ultimate consumer for this magazine?

Accepted Answer

A)  the person who buys the magazine to read at home
B)  the person who stocks the magazine rack at Walmart
C)  the person who browses the magazine in the store but does not buy it
D)  the salesperson for Time Inc.that sold the magazine to Walmart
E)  All people,from the writer,to the seller,to the reader at home,are the ultimate consumers.F) None of the above
G) B) and C)

Question 5

It is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Accepted Answer

Goods are physical objects,such as tooth...

Question 6

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

Accepted Answer

A)  change
B)  satisfy
C)  create
D)  manipulate
E)  preserveF) D) and E)
G) A) and B)

Question 7

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Accepted Answer

A)  a product.
B)  promotion.
C)  the price.
D)  the place or distribution.
E)  advertising.F) A) and B)
G) All of the above

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

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 500 companies
D)  every organization regardless of the kind
E)  only the organization that wants to make a profitF) A) and C)
G) All of the above

Question 10

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,he should

Accepted Answer

A)  buy a GMAT study guide at the bookstore.
B)  find out what the minimum score he needs to get into the school of his choice.
C)  attempt to find the tutor via her website,flyers in the students lounge,or ads in college and local papers,or by asking his friends.
D)  consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission.
E)  apply for delayed admission if he can't find this tutor.F) C) and D)
G) B) and E)

Question 11

A want refers to

Accepted Answer

A)  a sense of personal inadequacy based upon observations by others around you.
B)  a sense of urgency that causes a person to take action.
C)  a need that is shaped by a person's knowledge,culture,or personality.
D)  a feeling of being deprived of something,but not fully understanding what it may be.
E)  a situation when a person feels deprived of basic necessities such as food,clothing,and shelter.F) None of the above
G) B) and D)

Question 12

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) None of the above
G) A) and B)

Question 13

The first objective in marketing is to discover consumer __________.

Accepted Answer

A)  diversity of opinion to create advertising messages
B)  income to determine the most lucrative price point for a product
C)  lifetime value to the organization
D)  characteristics that would be useful to segment markets
E)  needs to create products that could satisfy themF) A) and D)
G) None of the above

Question 14

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Accepted Answer

A)  uncontrollable forces
B)  profitability factors
C)  stakeholder value generators
D)  target market segments
E)  controllable factorsF) A) and B)
G) A) and C)

Question 15

Twitter is a website that offers a social networking service, enabling its users to send and read other users’ messages or conversations called tweets, which are text-based posts of up to 140 characters displayed on the user’s profile page.  Connected to each “tweet” is a rich details pane that provides additional information, deeper context, and embedded media.  Companies are just beginning to use Twitter as a tool in their relationship marketing programs.  In what ways could Twitter be used to benefit both the customer and the organization?

Accepted Answer

One aspect of Twitter is that it allows ...

Question 16

If other companies applied the same strategy David Windorski used at 3M,they would most likely

Accepted Answer

A)  avoid the use of mock-ups and working models to speed up the new-product development process and get the product out to the market faster.
B)  search continuously to discover customers' needs.
C)  copy 3M's "5% Rule" to do unfunded research.
D)  avoid excessive attention to customers' demands because they cannot always differentiate between their needs and their wants.
E)  focus on the shareholders of the company and believe that strategy will follow.F) B) and D)
G) B) and C)

Question 17

List and describe the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Accepted Answer

The five environmental forces mainly bey...

Question 18

The two central concerns of marketing are __________.

Accepted Answer

A)  increasing market share and making profits
B)  holding down costs while increasing profits
C)  developing products and finding suppliers
D)  discovering and satisfying consumer needs
E)  practicing ethics and sustainabilityF) C) and D)
G) A) and B)

Question 19

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Accepted Answer

A)  a way for the parties to communicate
B)  a healthy competitive environment
C)  an affordable and actionable advertising campaign
D)  a sense of social responsibility
E)  an ability to see hidden potential within an environmental forceF) A) and D)
G) All of the above

Question 20

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.) .If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

Accepted Answer

A)  The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment.
B)  Both the adjuster and the student are potential customers because in their own way,they both benefit from the product.
C)  Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers.
D)  The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use.
E)  Only a person who has bought a smartphone previously is a prospective customer; only previous owners of smartphones benefit from buying new ones.F) C) and D)
G) None of the above

Exam 1: Creating Customer Relationships and Value Through Marketing

The first objective in marketing is to discover consumer __________.

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

Correct Answer
verified

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Correct Answer
verified

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

Correct Answer
verified

The two central concerns of marketing are __________.

Correct Answer
verified

Correct Answer
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If other companies applied the same strategy David Windorski used at 3M,they would most likely

Correct Answer
verified

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.) .If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

Correct Answer
verified

Marketing discovers consumer needs by

Correct Answer
verified

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

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

It is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Correct Answer
verified
Goods are physical objects,such as tooth...
View Answer

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Correct Answer
verified

What kinds of organizations engage in marketing?

Correct Answer
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A want refers to

Correct Answer
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Correct Answer
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One aspect of Twitter is that it allows ...
View Answer

List and describe the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Correct Answer
verified
The five environmental forces mainly bey...
View Answer

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

Correct Answer
verified

Time Inc.has published a new magazine, All You,,which is distributed only in Walmart stores.Who is the ultimate consumer for this magazine?

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

Exam 1: Creating Customer Relationships and Value Through Marketing

The first objective in marketing is to discover consumer __________.

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

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Correct AnswerverifiedShow Answer

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

Correct AnswerverifiedShow Answer

The two central concerns of marketing are __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If other companies applied the same strategy David Windorski used at 3M,they would most likely

Correct AnswerverifiedShow Answer

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.) .If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

Correct AnswerverifiedShow Answer

Marketing discovers consumer needs by

Correct AnswerverifiedShow Answer

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

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

It is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Correct AnswerverifiedGoods are physical objects,such as tooth...View AnswerShow Answer

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Correct AnswerverifiedShow Answer

What kinds of organizations engage in marketing?

Correct AnswerverifiedShow Answer

A want refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedOne aspect of Twitter is that it allows ...View AnswerShow Answer

List and describe the five environmental forces in a marketing decision that generally are outside the control of marketing managers.

Correct AnswerverifiedThe five environmental forces mainly bey...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Time Inc.has published a new magazine, All You,,which is distributed only in Walmart stores.Who is the ultimate consumer for this magazine?

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

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

Correct Answer
verified
Goods are physical objects,such as tooth...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
One aspect of Twitter is that it allows ...
View Answer

Correct Answer
verified
The five environmental forces mainly bey...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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