Question 1

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Accepted Answer

A)  marketing strategy.
B)  macromarketing agenda.
C)  micromarketing agenda.
D)  marketing program.
E)  marketing concept.F) A) and B)
G) A) and C)

Question 2

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

Accepted Answer

A)  Anticipate the future five years out in terms of product form, ingredients, and packaging-to invent the "toothpaste of tomorrow!"
B)  Give the product a mysterious name that is unrelated to the product's benefits but instead provokes consumer curiosity.
C)  Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay.
D)  Create unusual packaging that has special shelving requirements.
E)  Study past toothpaste product failures and learn from them.F) B) and C)
G) None of the above

Question 3

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 value.F) A) and E)
G) B) and E)

Question 4

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 sphere.F) D) and E)
G) A) and C)

Question 5

The process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create __________ utility.

Accepted Answer

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

Question 6

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

Question 7

The 3M Post-it Flag Highlighter and Pen marketing programs were designed for what primary objective?

Accepted Answer

A)  the initial launch of two new 3M products
B)  specific promotions to be used for long-range strategies
C)  segmenting the market into 12 specific target market segments
D)  marketing 3M products to foreign markets
E)  positioning the products relative to major competitorsF) C) and E)
G) B) and E)

Question 8

A church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief, positive story about how fellow members have helped them during times of need. Jack volunteered and shared his story during a service. Afterward, he felt joyous. Was this an exchange in a marketing sense?

Accepted Answer

A)  Yes, because the church ran an advertisement, a marketing activity.
B)  No, because the church is nonprofit organization and these actions are expected without any expectation of "exchange."
C)  No, because no money was exchanged.
D)  Yes, because sharing his story at a service was exchanged for a feeling of joy.
E)  No, because the church did not provide Jack with a tangible product or service.F) A) and B)
G) A) and D)

Question 9

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except

Accepted Answer

A)  sponsor U.S. Olympic and Paralympic teams.
B)  price the Chobani yogurt line below its major competitors (Yoplait and Dannon)  to increase sales and market share.
C)  use Facebook, YouTube, and other social media to promote Chobani yogurt.
D)  rely on word of mouth to reach new customers.
E)  air a Super Bowl commercial featuring a "yogurt bear."F) C) and D)
G) B) and E)

Question 10

The __________ element of the marketing mix is demonstrated when a newspaper carrier throws a paper on the customer's front porch.

Accepted Answer

A)  place
B)  product
C)  price
D)  promotion
E)  procurementF) A) and B)
G) All of the above

Question 11

An organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value is said to have a(n)

Accepted Answer

A)  product orientation.
B)  macroeconomic orientation.
C)  market orientation.
D)  industry orientation.
E)  societal marketing orientation.F) A) and D)
G) A) and E)

Question 12

What is the marketing term for people, whether they are 80 years or 8 months old, who use products and services purchased for a household?

Accepted Answer

A)  ultimate consumers
B)  situational buyers
C)  primary buyers
D)  a target market
E)  household prospectsF) A) and B)
G) B) and E)

Question 13

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Accepted Answer

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

Question 14

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves. Customers appreciate this superior product (they don't rust or scratch)  and like the fact that their purchase is environmentally responsible, making this an example of

Accepted Answer

A)  the societal marketing concept.
B)  the marketing concept.
C)  consumerism.
D)  target markets.
E)  capitalism.F) B) and C)
G) B) and E)

Question 15

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.F) B) and E)
G) A) and B)

Question 16

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Accepted Answer

A)  product
B)  price
C)  production
D)  promotion
E)  placeF) B) and E)
G) D) and E)

Question 17

Define needs and wants. Can marketing shape a person's wants? Explain your answer.

Accepted Answer

A need occurs when a person feels depriv...

Question 18

At the 2014 Clinton Global Initiative, PepsiCo and Coca-Cola announced an agreement to reduce the calorie content of their products by 20 percent before 2025. The new cola from Pepsi-Cola is sweetened with a combination of sugar and stevia leaf extract, resulting in a soft drink with the same flavor of Pepsi but only 60 calories. A potential showstopper for this product is likely to be

Accepted Answer

A)  a lack of advertising on television.
B)  in the past, mid-calorie soft drinks such as Pepsi Next (2012)  have not been successful.
C)  a lower profit margin due to the added costs of expensive ingredients.
D)  cannibalization of the company's existing sodas.
E)  the use of a combination of sugar and stevia leaf instead.F) C) and D)
G) A) and C)

Question 19

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) A) and C)
G) A) and D)

Question 20

Market segments refer to

Accepted Answer

A)  the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)  all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)  the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)  the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E)  all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.F) None of the above
G) A) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

The __________ element of the marketing mix is demonstrated when a newspaper carrier throws a paper on the customer's front porch.

Correct Answer
verified

An organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value is said to have a(n)

Correct Answer
verified

Correct Answer
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Define needs and wants. Can marketing shape a person's wants? Explain your answer.

Correct Answer
verified
A need occurs when a person feels depriv...
View Answer

Environmental forces refer to

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

Correct Answer
verified

Market segments refer to

Correct Answer
verified

Correct Answer
verified

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Correct Answer
verified

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves. Customers appreciate this superior product (they don't rust or scratch) and like the fact that their purchase is environmentally responsible, making this an example of

Correct Answer
verified

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except

Correct Answer
verified

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Correct Answer
verified

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Correct Answer
verified

Showstoppers refer to

Correct Answer
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What is the marketing term for people, whether they are 80 years or 8 months old, who use products and services purchased for a household?

Correct Answer
verified

The 3M Post-it Flag Highlighter and Pen marketing programs were designed for what primary objective?

Correct Answer
verified

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

Correct Answer
verified

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

Correct Answer
verified

The process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create __________ utility.

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

The __________ element of the marketing mix is demonstrated when a newspaper carrier throws a paper on the customer's front porch.

Correct AnswerverifiedShow Answer

An organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value is said to have a(n)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Define needs and wants. Can marketing shape a person's wants? Explain your answer.

Correct AnswerverifiedA need occurs when a person feels depriv...View AnswerShow Answer

Environmental forces refer to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Market segments refer to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market. Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Correct AnswerverifiedShow Answer

Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from agave leaves. Customers appreciate this superior product (they don't rust or scratch) and like the fact that their purchase is environmentally responsible, making this an example of

Correct AnswerverifiedShow Answer

All of the following are marketing mix strategies that Chobani has used to sell its yogurt except

Correct AnswerverifiedShow Answer

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Correct AnswerverifiedShow Answer

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

Correct AnswerverifiedShow Answer

Showstoppers refer to

Correct AnswerverifiedShow Answer

What is the marketing term for people, whether they are 80 years or 8 months old, who use products and services purchased for a household?

Correct AnswerverifiedShow Answer

The 3M Post-it Flag Highlighter and Pen marketing programs were designed for what primary objective?

Correct AnswerverifiedShow Answer

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create __________ utility.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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A need occurs when a person feels depriv...
View 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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