Question 1

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

Accepted Answer

A)  experience.
B)  products/services.
C)  customer service.
D)  availability.
E)  priceF) B) and E)
G) None of the above

Question 2

Some people may assume that for a marketer, the only thing of value for which he or she would "exchange" would be monetary (check, credit/debit, currency, and/or coin transactions). But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Accepted Answer

Exchange is the trade of things of value...

Question 3

Which element of the marketing mix is demonstrated when Mars, Inc. has a sale on M&MS brand candies?

Accepted Answer

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

Question 4

Social responsibility is

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 fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
C)  the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
D)  the idea that individuals and organizations are accountable to a larger society.
E)  the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.F) C) and E)
G) C) and D)

Question 5

The four utilities marketing creates are

Accepted Answer

A)  product, price, promotion, and place.
B)  form, function, value, and people.
C)  monopoly, monopolistic competition, pure competition, and oligopoly.
D)  form, place, time, and possession.
E)  natural gas, fossil fuel, electricity, and water.F) None of the above
G) All of the above

Question 6

Four factors are required for marketing to occur: (1)  two or more parties (individuals or organizations)  with unsatisfied needs; (2)  __________; (3)  a way for the parties to communicate; and (4)  something to exchange.

Accepted Answer

A)  a healthy competitive environment
B)  government approval
C)  an affordable and actionable advertising campaign
D)  a desire and ability on their part to be satisfied
E)  an ability to see hidden potential within an environmental forceF) None of the above
G) A) and B)

Question 7

-In Figure 1-1 above, B represents an organization's partnerships with

Accepted Answer

A)  other organizations.
B)  suppliers.
C)  shareholders.
D)  customers.
E)  other departments.F) B) and D)
G) C) and E)

Question 8

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) A) and C)

Question 9

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

Accepted Answer

A)  There are not two or more parties with unsatisfied needs.
B)  A desire to satisfy a need is missing.
C)  No assessments of consumer wants and needs have been made.
D)  There is no way for the parties involved to communicate.
E)  The ability to satisfy a need is missing.F) C) and D)
G) B) and D)

Question 10

Organizational buyers are described as

Accepted Answer

A)  only companies that purchase of raw materials and natural resources for manufacturing.
B)  employees who purchase household items for their personal use.
C)  any individual or group making a purchase worth over $100,000.
D)  manufacturers, retailers, or government agencies that buy products for their own use or for resale.
E)  any organization who uses products purchased or meant for a household.F) B) and C)
G) C) and E)

Question 11

-In Figure 1-1 above, C represents an organization's ownership with

Accepted Answer

A)  other organizations.
B)  suppliers.
C)  customers.
D)  other departments.
E)  shareholders.F) A) and E)
G) All of the above

Question 12

The value to consumers that comes from the production or alteration of a product or service constitutes __________ utility.

Accepted Answer

A)  time
B)  place
C)  possession
D)  market
E)  formF) A) and C)
G) All of the above

Question 13

All of the following are aspects of Trader Joe's customer experience EXCEPT:

Accepted Answer

A)  it has a large and expensive research and development facility.
B)  it offers unusual food products not available from other retailers.
C)  it stocks yuppie-friendly staples on its shelves.
D)  it sets low prices by offering its own brands, not national ones.
E)  it provides rare employee "engagement" to help customers.F) A) and B)
G) All of the above

Question 14

Marketing refers to

Accepted Answer

A)  the production of products or services that will generate the highest return on investment.
B)  the strategies used in the advertising and promotion of products and services to customers around the globe.
C)  the process of identifying target market segments for a product or service.
D)  the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.
E)  the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at largeF) C) and E)
G) B) and E)

Question 15

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

Accepted Answer

A)  shoppers
B)  customer base
C)  market
D)  bazaar
E)  emporiumF) B) and C)
G) A) and C)

Question 16

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 17

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

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 C)

Question 18

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

Question 19

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 E)
G) All of the above

Question 20

Mark Zuckerberg is a co-founder of the social networking website called __________.

Accepted Answer

A)  Pinterest
B)  Groupon
C)  LinkedIn
D)  Facebook
E)  TwitterF) C) and E)
G) D) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

Correct Answer
verified

The four utilities marketing creates are

Correct Answer
verified

Social responsibility is

Correct Answer
verified

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

Correct Answer
verified

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

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

Mark Zuckerberg is a co-founder of the social networking website 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 element of the marketing mix is demonstrated when Mars, Inc. has a sale on M&MS brand candies?

Correct Answer
verified

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) __________; (3) a way for the parties to communicate; and (4) something to exchange.

Correct Answer
verified

-In Figure 1-1 above, B represents an organization's partnerships with

Correct Answer
verified

Correct Answer
verified
Exchange is the trade of things of value...
View Answer

The value to consumers that comes from the production or alteration of a product or service constitutes __________ utility.

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

Correct Answer
verified

-In Figure 1-1 above, C represents an organization's ownership with

Correct Answer
verified

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

Correct Answer
verified

Organizational buyers are described as

Correct Answer
verified

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

Marketing refers to

Correct Answer
verified

All of the following are aspects of Trader Joe's customer experience EXCEPT:

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

Correct AnswerverifiedShow Answer

The four utilities marketing creates are

Correct AnswerverifiedShow Answer

Social responsibility is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

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

Mark Zuckerberg is a co-founder of the social networking website 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 element of the marketing mix is demonstrated when Mars, Inc. has a sale on M&MS brand candies?

Correct AnswerverifiedShow Answer

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) __________; (3) a way for the parties to communicate; and (4) something to exchange.

Correct AnswerverifiedShow Answer

-In Figure 1-1 above, B represents an organization's partnerships with

Correct AnswerverifiedShow Answer

Correct AnswerverifiedExchange is the trade of things of value...View AnswerShow Answer

The value to consumers that comes from the production or alteration of a product or service constitutes __________ utility.

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

Correct AnswerverifiedShow Answer

-In Figure 1-1 above, C represents an organization's ownership with

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Organizational buyers are described as

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

Marketing refers to

Correct AnswerverifiedShow Answer

All of the following are aspects of Trader Joe's customer experience EXCEPT:

Correct AnswerverifiedShow Answer

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

Correct Answer
verified

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
Exchange is the trade of things of value...
View Answer

Correct Answer
verified

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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