Question 1

All of the following are factors required for marketing to occur except which?

Accepted Answer

A)   a desire and ability on the part of two or more parties (individuals or organizations)  to be satisfied
B)   something to exchange between two or more parties (individuals or organizations) 
C)   two or more parties (individuals or organizations)  with the same wants
D)   two or more parties (individuals or organizations)  with unsatisfied needs
E)   a way for the parties (individuals or organizations)  to communicateF) None of the above
G) C) and D)

Question 2

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.An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the __________ element of the marketing mix.

Accepted Answer

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

Question 3

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

Accepted Answer

A)   a prospective customer.
B)   a dual-purpose marketing decision maker.
C)   a potential distributor.
D)   an informed buyer.
E)   an end user.F) A) and C)
G) B) and E)

Question 4

All of the following are true about marketing except which?

Accepted Answer

A)   Marketing is a broader activity than advertising.
B)   Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers.
C)   Successful marketing usually results in one "winner" and one or more "losers."
D)   When an organization engages in marketing, it should also create value for its partners and society.
E)   Marketing is a broader activity than personal selling.F) B) and C)
G) B) and D)

Question 5

A want is a(n) ____ that is shaped by a person's knowledge,culture,and personality.

Accepted Answer

A)   desire
B)   need
C)   utility
D)   demand
E)   optionF) A) and C)
G) A) and E)

Question 6

If a bank is known for delivering customer value through its focus on taking great care of customers,it is most likely focusing on providing its customers with the best

Accepted Answer

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

Question 7

Add your own personal experience and creativity to what you have 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 8

What are the two key objectives of marketing?
 Define "exchange" and explain how it supports these objectives.

Accepted Answer

To serve both buyers and sellers,marketi...

Question 9

A good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is known as

Accepted Answer

A)   a utility.
B)   an item.
C)   a service.
D)   a marketing program.
E)   a product.F) C) and D)
G) B) and D)

Question 10

The difference between "Greek" yogurt and "American" yogurt is that the latter

Accepted Answer

A)   has a gritty texture.
B)   has a thin consistency.
C)   is not sweet enough for health-conscience palettes.
D)   is only sold in health or natural food stores.
E)   has high protein content.F) A) and C)
G) B) and E)

Question 11

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 doubt you'll see real results and 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 situation.F) A) and E)
G) A) and D)

Question 12

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

Accepted Answer

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

Question 13

At the BMW website,BMW.com,you can design your own BMW with the exact features you desire.If you choose to use this method to purchase a car,what type of utility(ies)has(have)been created?

Accepted Answer

Form utility comes from the production o...

Question 14

Which of the following terms best describes the marketing concept?

Accepted Answer

A)   consumer-oriented
B)   production-oriented
C)   sales-oriented
D)   society-oriented
E)   competition-orientedF) B) and E)
G) A) and E)

Question 15

Assume you are a salesperson for a direct marketing firm that does in-home jewelry parties.If most of your hosts or hostesses hold only one party a year,what strategies could you use to build strong customer relationships?
 If you are creating your own business for this example,make sure to describe your product(s)in your introductory sentence.

Accepted Answer

A quality answer should have a strong em...

Question 16

Mark Zuckerberg is a cofounder of the social networking website called

Accepted Answer

A)   Pinterest.
B)   Groupon.
C)   LinkedIn.
D)   Facebook.
E)   Twitter.F) A) and B)
G) A) and C)

Question 17

Recently,Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________,including personal attention from employees in the store.

Accepted Answer

A)   customer value proposition
B)   relationship marketing
C)   customer experience
D)   internal marketing
E)   customer relationship managementF) C) and D)
G) A) and B)

Question 18

Which of the following statements best distinguishes between consumer needs and wants?

Accepted Answer

A)   Needs are far more influential than wants with respect to marketing decision making.
B)   Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.
C)   Wants occur when a person feels deprived of luxury items while needs are solely possessions required to maintain relationships.
D)   Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy.
E)   Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.F) A) and B)
G) A) and C)

Question 19

Which of the following organizations engage in marketing?

Accepted Answer

A)   the Chicago Cubs
B)   the San Francisco Opera
C)   the city of Denver
D)   the president of the United States
E)   Every organization or individual can engage in marketing to some extent.F) All of the above
G) B) and E)

Question 20

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

Accepted Answer

A)   The marketing concept can trace its roots to early Greek culture.
B)   In using the marketing concept, both companies and consumers are able to satisfy needs simultaneously.
C)   In using the marketing concept, companies focus on sales and advertising.
D)   The marketing concept is most effective when production is limited and the product will sell itself.
E)   All U.S. firms are now operating with a marketing concept philosophy.F) D) and E)
G) A) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

Mark Zuckerberg is a cofounder of the social networking website called

Correct Answer
verified

Which of the following terms best describes the marketing concept?

Correct Answer
verified

At the BMW website,BMW.com,you can design your own BMW with the exact features you desire.If you choose to use this method to purchase a car,what type of utility(ies)has(have)been created?

Correct Answer
verified
Form utility comes from the production o...
View Answer

The difference between "Greek" yogurt and "American" yogurt is that the latter

Correct Answer
verified

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

Correct Answer
verified

If a bank is known for delivering customer value through its focus on taking great care of customers,it is most likely focusing on providing its customers with the best

Correct Answer
verified

A good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is known as

Correct Answer
verified

Which of the following statements best distinguishes between consumer needs and wants?

Correct Answer
verified

Correct Answer
verified
A quality answer should have a strong em...
View Answer

Which of the following organizations engage in marketing?

Correct Answer
verified

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Correct Answer
verified
To serve both buyers and sellers,marketi...
View Answer

A want is a(n) ____ that is shaped by a person's knowledge,culture,and personality.

Correct Answer
verified

Add your own personal experience and creativity to what you have 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

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

Correct Answer
verified

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

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.An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the __________ element of the marketing mix.

Correct Answer
verified

Recently,Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________,including personal attention from employees in the store.

Correct Answer
verified

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 doubt you'll see real results and decide not to vote for her.Marketing will not occur in this situation because

Correct Answer
verified

All of the following are true about marketing except which?

Correct Answer
verified

All of the following are factors required for marketing to occur except which?

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Mark Zuckerberg is a cofounder of the social networking website called

Correct AnswerverifiedShow Answer

Which of the following terms best describes the marketing concept?

Correct AnswerverifiedShow Answer

At the BMW website,BMW.com,you can design your own BMW with the exact features you desire.If you choose to use this method to purchase a car,what type of utility(ies)has(have)been created?

Correct AnswerverifiedForm utility comes from the production o...View AnswerShow Answer

The difference between "Greek" yogurt and "American" yogurt is that the latter

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

If a bank is known for delivering customer value through its focus on taking great care of customers,it is most likely focusing on providing its customers with the best

Correct AnswerverifiedShow Answer

A good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is known as

Correct AnswerverifiedShow Answer

Which of the following statements best distinguishes between consumer needs and wants?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedA quality answer should have a strong em...View AnswerShow Answer

Which of the following organizations engage in marketing?

Correct AnswerverifiedShow Answer

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Correct AnswerverifiedTo serve both buyers and sellers,marketi...View AnswerShow Answer

A want is a(n) ____ that is shaped by a person's knowledge,culture,and personality.

Correct AnswerverifiedShow Answer

Add your own personal experience and creativity to what you have 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

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

Correct AnswerverifiedShow Answer

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

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.An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the __________ element of the marketing mix.

Correct AnswerverifiedShow Answer

Recently,Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________,including personal attention from employees in the store.

Correct AnswerverifiedShow 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 doubt you'll see real results and decide not to vote for her.Marketing will not occur in this situation because

Correct AnswerverifiedShow Answer

All of the following are true about marketing except which?

Correct AnswerverifiedShow Answer

All of the following are factors required for marketing to occur except which?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified
Form utility comes from the production o...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A quality answer should have a strong em...
View Answer

Correct Answer
verified

Correct Answer
verified
To serve both buyers and sellers,marketi...
View Answer

Correct Answer
verified

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