Question 1

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day.This creates both __________ and __________ utility.

Accepted Answer

A)  form and place
B)  form and time
C)  place and time
D)  time and possession
E)  form and possessionF) D) and E)
G) B) and D)

Question 2

Why do some marketers feel that environmental forces are NOT 
entirely outside their influence?

Accepted Answer

Traditionally,many marketing executives ...

Question 3

Initially,Facebook targeted which consumer market segment?

Accepted Answer

A)  grade school children ages 6 to 12 years old
B)  high school students
C)  college students
D)  adults with professional occupations
E)  senior adults 55 years and olderF) A) and B)
G) D) and E)

Question 4

The Hermitage,a famous Russian art museum,was suffering financial difficulties as the result of lost funding and a decrease in tourists.The decrease in visitors is blamed on a lack of awareness of the treasures contained in the museum.The Hermitage's director used a strategic alliance with IBM to create a website where people view some of the wonders of the Hermitage in an online virtual tour.The hope is that this sampling of paintings,sculptures,etc.will encourage visitors to make a trip to the Hermitage and spend enough money there to cover operational costs.The Hermitage is a(n) __________ that uses online virtual tours to market itself worldwide.

Accepted Answer

A)  good
B)  idea
C)  service
D)  assembly
E)  charityF) A) and E)
G) A) and D)

Question 5

Which of the following statements about stakeholders is most accurate?

Accepted Answer

A)  Ultimately,the only relevant stakeholder is the ultimate consumer.
B)  The suppliers,shareholders,employees,and customers are all stakeholders of an organization and all should benefit from the organization's marketing activities.
C)  Employees can be stakeholders only if they own shares in their company.
D)  Suppliers are the most important stakeholders because without them,products could never be produced.
E)  The only way to be a stakeholder is to have a financial investment in an organization's product,service,or idea.F) A) and C)
G) A) and E)

Question 6

Organizations such as American Airlines,U.S.Bank,and the Red Cross provide customers with products that are typically called a(n) __________.

Accepted Answer

A)  utility
B)  performance
C)  service
D)  value
E)  ideaF) C) and D)
G) A) and B)

Question 7

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

Accepted Answer

The three specific groups that benefit f...

Question 8

A student would like to buy cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

Accepted Answer

A)  two or more parties have unsatisfied needs.
B)  there is no desire on the part of either party to satisfy its needs.
C)  one of the involved parties does not have the ability to satisfy its needs.
D)  there is no way for each party to communicate with one another.
E)  there has been no assessment of consumer wants and needs.F) All of the above
G) None of the above

Question 9

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

Accepted Answer

A)  marketing doesn't apply to the voting process
B)  the desire and ability to satisfy needs is missing
C)  there is no direct way for the parties to communicate
D)  something to exchange is missing
E)  there is only one party involved in this situationF) A) and E)
G) D) and E)

Question 10

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals reflects the

Accepted Answer

A)  concept of synergy.
B)  marketing concept.
C)  principle of customer relationship management.
D)  societal marketing concept.
E)  consumerism concept.F) None of the above
G) B) and E)

Question 11

The Apple iPhone is rated by  Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone provides value for its customers?

Accepted Answer

Customer value is the unique combination...

Question 12

Add your own personal experience and creativity to what you have just learned about marketing.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

Accepted Answer

A quality answer will include multiple t...

Question 13

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

Question 14

Which of the following statements best describes a service?

Accepted Answer

A)  Services are physical objects.
B)  Services are intangible items.
C)  Services are thoughts about concepts,actions,or causes.
D)  Services are the benefits organizations receive in exchange for selling products.
E)  Services comprise the subset of tangible features of products.F) None of the above
G) B) and C)

Question 15

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 D)
G) A) and D)

Question 16

A local college of business offers an outstanding graduate business school education program.Cali pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

Accepted Answer

A)  No,because the university earned a profit from Cali's tuition.
B)  No,because money was exchanged in the form of tuition and Cali's income will come from her employer,not the graduate school.
C)  No,because the school did not provide Cali with a tangible product,only the potential of an education.
D)  Yes,because the university promised Cali she would graduate on time,and she did.
E)  Yes,because paying tuition was exchanged for knowledge that directly led to Cali's high paying,fulfilling new job.F) B) and E)
G) C) and D)

Question 17

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

Accepted Answer

A)  a healthy competitive environment
B)  an affordable and actionable advertising campaign
C)  a sense of social responsibility
D)  an ability to see hidden potential within an environmental force
E)  two or more parties (individuals or organizations) with unsatisfied needsF) A) and D)
G) A) and C)

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) A) and E)
G) B) and D)

Question 19

What four factors are required for marketing to occur?

Accepted Answer

For marketing to occur,four factors are ...

Question 20

Environmental forces refer to

Accepted Answer

A)  the internal strengths of a company that enable the firm to remain competitive.
B)  the marketing manager's uncontrollable factors-product,price,promotion,and place-that can be used to solve marketing problems.
C)  the unpredictable or uncontrollable availability of natural resources that can enhance or restrain a company's growth.
D)  the marketing manager's uncontrollable forces in a marketing decision involving social,economic,technological,competitive,and regulatory forces.
E)  the marketing manager's controllable forces in a marketing decision involving social,economic,technological,competitive,and regulatory forces.F) B) and C)
G) None of the above

Exam 1: Creating Customer Relationships and Value Through Marketing

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

Correct Answer
verified

A student would like to buy cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

Correct Answer
verified

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day.This creates both and utility.

Correct Answer
verified

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

Correct Answer
verified

Which of the following statements about stakeholders is most accurate?

Correct Answer
verified

Organizations such as American Airlines,U.S.Bank,and the Red Cross provide customers with products that are typically called a(n) __________.

Correct Answer
verified

Environmental forces refer to

Correct Answer
verified

Which of the following statements best describes a service?

Correct Answer
verified

The Apple iPhone is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone provides value for its customers?

Correct Answer
verified
Customer value is the unique combination...
View Answer

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

Correct Answer
verified

A local college of business offers an outstanding graduate business school education program.Cali pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

Correct Answer
verified

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

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

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals reflects the

Correct Answer
verified

What four factors are required for marketing to occur?

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

Customer relationship management refers to

Correct Answer
verified

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

Correct Answer
verified

Why do some marketers feel that environmental forces are NOT entirely outside their influence?

Correct Answer
verified
Traditionally,many marketing executives ...
View Answer

Add your own personal experience and creativity to what you have just learned about marketing.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

Correct Answer
verified
A quality answer will include multiple t...
View Answer

Initially,Facebook targeted which consumer market segment?

Correct Answer
verified

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

Correct AnswerverifiedShow Answer

A student would like to buy cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

Correct AnswerverifiedShow Answer

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day.This creates both __________ and __________ utility.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements about stakeholders is most accurate?

Correct AnswerverifiedShow Answer

Organizations such as American Airlines,U.S.Bank,and the Red Cross provide customers with products that are typically called a(n) __________.

Correct AnswerverifiedShow Answer

Environmental forces refer to

Correct AnswerverifiedShow Answer

Which of the following statements best describes a service?

Correct AnswerverifiedShow Answer

The Apple iPhone is rated by Consumer Reports as being one of the best smartphones in the industry.Define customer value.In what ways do you think the Apple iPhone provides value for its customers?

Correct AnswerverifiedCustomer value is the unique combination...View AnswerShow Answer

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

Correct AnswerverifiedShow Answer

A local college of business offers an outstanding graduate business school education program.Cali pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

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

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals reflects the

Correct AnswerverifiedShow Answer

What four factors are required for marketing to occur?

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

Customer relationship management refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Why do some marketers feel that environmental forces are NOT entirely outside their influence?

Correct AnswerverifiedTraditionally,many marketing executives ...View AnswerShow Answer

Add your own personal experience and creativity to what you have just learned about marketing.Formulate a plan to assess the needs of either (1)students who have too many textbooks to carry to and from class or (2)executives who are too busy to keep up with the latest information in their field.

Correct AnswerverifiedA quality answer will include multiple t...View AnswerShow Answer

Initially,Facebook targeted which consumer market segment?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day.This creates both and utility.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Customer value is the unique combination...
View Answer

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Traditionally,many marketing executives ...
View Answer

Correct Answer
verified
A quality answer will include multiple t...
View Answer

Correct Answer
verified

Correct Answer
verified