Question 1

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Accepted Answer

A)   financial remuneration.
B)   exchange.
C)   countertrade.
D)   barter.
E)   marketing.F) None of the above
G) B) and E)

Question 2

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 B)
G) B) and C)

Question 3

The people who use the products and services purchased for a household are called

Accepted Answer

A)   organizational buyers.
B)   household prospects.
C)   ultimate consumers.
D)   a target market.
E)   sellers.F) A) and C)
G) A) and E)

Question 4

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 5

Firms such as Southwest Airlines, Marriott, and Facebook have achieved great success by putting a huge effort into implementing the marketing concept, giving their firms a ________ orientation.

Accepted Answer

A)   production
B)   sales
C)   customer relationship
D)   service
E)   marketF) B) and E)
G) B) and D)

Question 6

A need refers to a

Accepted Answer

A)   sense of personal inadequacy based upon observations by others around you.
B)   sense of urgency, which causes a person to take action.
C)   feeling that is shaped by a person's knowledge, culture, or personality.
D)   feeling of vague lacking, but not fully understanding what may be required.
E)   feeling of deprivation of basic necessities such as food, clothing, and shelter.F) A) and E)
G) All of the above

Question 7

Randall receives a coupon on his iPhone advising him about the location of a Taco Bell store. This is an example of which requirement for marketing to occur?

Accepted Answer

A)   demonstrating an unmet need
B)   discovering a consumer need
C)   a foundation for brand loyalty
D)   a way for parties to communicate
E)   practicing ethics and sustainabilityF) B) and E)
G) B) and D)

Question 8

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

Accepted Answer

The three specific groups that benefit f...

Question 9

The Arizona Biltmore in Phoenix is a resort hotel located less than a mile from the Biltmore Fashion Park, a large upscale shopping mall. The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states. Which marketing action would most likely help the Arizona Biltmore communicate with potential convention attendees?

Accepted Answer

A)   Place an ad in the in-flight magazines of all the major airlines targeting business/first-class fliers.
B)   Send a mass mailing to all local businesses.
C)   Set up information kiosks at several locations within the Biltmore Fashion Park.
D)   Offer free made-to-order breakfasts for guests staying at the hotel on business.
E)   Offer special discount rates to guests coming from the East Coast.F) B) and D)
G) B) and C)

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 worthwhile 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. Marketing does not occur in this situation because

Accepted Answer

A)   two or more parties have satisfied needs.
B)   there is no desire on the part of either party to satisfy its needs.
C)   both parties are not aware that a need for tutoring exists.
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) B) and C)
G) All of the above

Question 11

Elon Musk was involved in the inception of all of the following companies except which?

Accepted Answer

A)   SpaceX
B)   PayPal
C)   Tesla
D)   Facebook
E)   NeuralinkF) A) and B)
G) A) and C)

Question 12

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the heritage products they market. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered part of the ________ element of the marketing mix.

Accepted Answer

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

Question 13

The ________ element of the marketing mix is demonstrated when a company runs a commercial on Hulu.

Accepted Answer

A)   product
B)   price
C)   promotion
D)   place
E)   processF) B) and E)
G) C) and E)

Question 14

Figure 1-5
-In Figure 1-5 above, "A" represents which era in U.S. business history?

Accepted Answer

A)   sales era
B)   consumerism era
C)   marketing concept era
D)   customer relationship era
E)   production eraF) A) and C)
G) B) and E)

Question 15

American Express cardholders have access to early presales for Ariana Grande concert tickets in many cities. What utility does American Express offer in this instance?

Accepted Answer

A)   time utility
B)   place utility
C)   possession utility
D)   market utility
E)   form utilityF) C) and D)
G) A) and E)

Question 16

Customer experience refers to

Accepted Answer

A)   the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time.
B)   the links an organization has to its customers for their mutual long-term benefits.
C)   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.
D)   the internal response that customers have to all aspects of an organization and its offerings.
E)   the activities in which a firm participates to create a positive buying experience for customers.F) A) and D)
G) A) and E)

Question 17

According to the text, Target has been successful by offering consumers the best

Accepted Answer

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

Question 18

All markets ultimately are composed of

Accepted Answer

A)   people.
B)   brands.
C)   products.
D)   organizations.
E)   locations.F) B) and D)
G) B) and C)

Question 19

For marketing to occur, there must be two or more parties involved. 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 lemonade stands they had during hot summers.
B)   people with a desire for a cool 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 health benefits of adequate hydration.F) D) and E)
G) B) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

Correct Answer
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Correct Answer
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The people who use the products and services purchased for a household are called

Correct Answer
verified

Firms such as Southwest Airlines, Marriott, and Facebook have achieved great success by putting a huge effort into implementing the marketing concept, giving their firms a ________ orientation.

Correct Answer
verified

The ________ element of the marketing mix is demonstrated when a company runs a commercial on Hulu.

Correct Answer
verified

A need refers to a

Correct Answer
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Customer experience refers to

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

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

Correct Answer
verified

According to the text, Target has been successful by offering consumers the best

Correct Answer
verified

American Express cardholders have access to early presales for Ariana Grande concert tickets in many cities. What utility does American Express offer in this instance?

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

Randall receives a coupon on his iPhone advising him about the location of a Taco Bell store. This is an example of which requirement for marketing to occur?

Correct Answer
verified

Figure 1-5 -In Figure 1-5 above, "A" represents which era in U.S. business history?

Correct Answer
verified

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Correct Answer
verified

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the heritage products they market. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered part of the ________ element of the marketing mix.

Correct Answer
verified

Elon Musk was involved in the inception of all of the following companies except which?

Correct Answer
verified

For marketing to occur, there must be two or more parties involved. 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

All markets ultimately are composed of

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The people who use the products and services purchased for a household are called

Correct AnswerverifiedShow Answer

Firms such as Southwest Airlines, Marriott, and Facebook have achieved great success by putting a huge effort into implementing the marketing concept, giving their firms a ________ orientation.

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix is demonstrated when a company runs a commercial on Hulu.

Correct AnswerverifiedShow Answer

A need refers to a

Correct AnswerverifiedShow Answer

Customer experience refers to

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

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

Correct AnswerverifiedShow Answer

According to the text, Target has been successful by offering consumers the best

Correct AnswerverifiedShow Answer

American Express cardholders have access to early presales for Ariana Grande concert tickets in many cities. What utility does American Express offer in this instance?

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

Randall receives a coupon on his iPhone advising him about the location of a Taco Bell store. This is an example of which requirement for marketing to occur?

Correct AnswerverifiedShow Answer

Figure 1-5 -In Figure 1-5 above, "A" represents which era in U.S. business history?

Correct AnswerverifiedShow Answer

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Correct AnswerverifiedShow Answer

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the heritage products they market. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered part of the ________ element of the marketing mix.

Correct AnswerverifiedShow Answer

Elon Musk was involved in the inception of all of the following companies except which?

Correct AnswerverifiedShow Answer

For marketing to occur, there must be two or more parties involved. 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

All markets ultimately are composed of

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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A need occurs when a person feels depriv...
View 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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The three specific groups that benefit f...
View 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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