Question 1

Based on the marketing program 3M developed for its Post-it® Flag Highlighters and Post-it® Flag Pens, one can conclude that

Accepted Answer

A)   the market segments for Post-it® Flag Highlighters and Post-it® Flag Pens are identical.
B)   the market segments for Post-it® Flag Highlighters and Post-it® Flag Pens are not realistic.
C)   the Post-it® Flag Highlighters and Post-it® Flag Pens are priced unreasonably for the target markets.
D)   the prices for 3M's Post-it® Flag Highlighters and Post-it® Flag Pens are set to maximize 3M's profits, not its distributors' profits.
E)   the promotion strategy is designed to increase awareness among potential users.F) B) and D)
G) C) and E)

Question 2

A local university offers business courses for a target market of people who currently work and want to take refresher courses for certification in their business field (marketing, accounting, etc.) . Which of the following would be the most effective way to communicate with the target market, bearing in mind that communication must be both effective and economical?

Accepted Answer

A)   put announcements on campus bulletin boards
B)   distribute promotional materials during classes
C)   advertise on national television
D)   advertise on local hip-hop radio shows
E)   advertise on LinkedIn, social media for professionalsF) All of the above
G) B) and D) E

Question 3

The new Nutritional Fact label requirements taking effect in 2020 will provide more information about added sugars. In anticipation, Coca-Cola is testing Coca-Cola Stevia, which will be sweetened only with stevia. A potential showstopper for this product is likely to be

Accepted Answer

A)   a lack of advertising on television.
B)   previous products with stevia sweetener had a bitter aftertaste.
C)   a lower profit margin due to the added costs of expensive ingredients.
D)   cannibalization of the company's existing sodas.
E)   pressure from the cane sugar and corn industries.F) All of the above
G) D) 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) C) and E)
G) B) and E)

Question 5

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

Question 6

Figure 1-2
-In Figure 1-2, "A" represents ________ and "B" represents ________.

Accepted Answer

A)   decisions by management; purchases by customers
B)   employees efforts; stakeholder rewards
C)   sales department; manufacturing department
D)   suppliers; distributors
E)   discovering consumer needs; satisfying consumer needsF) A) and D)
G) None of the above

Question 7

________ responsible for establishing the organization's mission and objectives.

Accepted Answer

A)   Marketers are
B)   Suppliers are
C)   Customers are
D)   Senior management is
E)   Shareholders areF) A) and E)
G) A) and B)

Question 8

The marketing department of an organization is responsible for facilitating

Accepted Answer

A)   relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
B)   healthy competition with other product manufacturers.
C)   financial contracts with banks and other lending institutions.
D)   alliances with firms with noncompetitive products that target similar markets.
E)   the coordination between the various departments within the entire firm.F) B) and C)
G) None of the above

Question 9

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

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)   create a variety of advertising campaigns for the Chobani YouTube channel
D)   rely on word of mouth to reach new customers
E)   air a Super Bowl commercial featuring a large bear searching for a snackF) A) and C)
G) A) and E)

Question 10

To serve both buyers and sellers, marketing seeks to discover and ________ the needs and wants of prospective customers.

Accepted Answer

A)   change
B)   satisfy
C)   create
D)   align
E)   preserveF) B) and E)
G) A) and B)

Question 11

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) B) and D)
G) None of the above C

Question 12

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Accepted Answer

A)   the marketing concept.
B)   the marketing mix.
C)   the marketing program.
D)   environmental forces.
E)   the marketing toolbox.F) B) and D)
G) C) and E)

Question 13

Which of the following statements about customer value is most accurate?

Accepted Answer

A)   Target customers assess customer value in terms of the combination of benefits (quality, convenience, etc.) , regardless of the price.
B)   Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)   Research suggests that firms can be most successful by being all things to all consumers.
D)   It is impossible to place a dollar value on a loyal, satisfied customer.
E)   By providing unique value for targeted buyers, firms can build long-term relationships with them.F) A) and C)
G) A) and E)

Question 14

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Accepted Answer

A)   mass market.
B)   base market.
C)   potential market.
D)   target market.
E)   promotional market.F) A) and B)
G) A) and C)

Question 15

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) C) and E) B

Question 16

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters and the Post-it® Flag Pens are true except which?

Accepted Answer

A)   Office workers were the primary target marketing for the Post-it® Flag Pen.
B)   Students were initially the intended target market for the Post-it® Flag Highlighter.
C)   Low price was the primary consideration in choosing among distribution options for both Post-it® Flag Highlighters and the Post-it® Flag Pens.
D)   David Windorski, the designer of the Post-it® Flag Highlighter, appeared on "The Oprah Winfrey Show" so Winfrey could thank him in person for "his most incredible invention."
E)   3M recently introduced the 3-in-1 combination Post-it® Flag + Highlighter & Pen.F) D) and E)
G) B) and D)

Question 17

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation is most closely related to the ________ element of the marketing mix.

Accepted Answer

A)   product
B)   philanthropy
C)   price
D)   place
E)   promotionF) A) and B)
G) None of the above

Question 18

All of the following are aspects of Trader Joe's customer experience except which?

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)   Its commitment to customer experience has resulted in its rank as a favorite supermarket.
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 D)
G) A) and E)

Question 19

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

Accepted Answer

A)   Marketing is affected by society but rarely, if ever, affects society as a whole.
B)   The marketing department both shapes and is shaped by its relationship with internal and external groups.
C)   Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall) .
D)   Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research.
E)   Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.F) A) and B)
G) C) and D)

Question 20

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)   SolarCityF) C) and D)
G) B) and D)

Exam 1: Creating Customer Relationships and Value Through Marketing

Based on the marketing program 3M developed for its Post-it® Flag Highlighters and Post-it® Flag Pens, one can conclude that

Correct Answer
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Correct Answer
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E

The new Nutritional Fact label requirements taking effect in 2020 will provide more information about added sugars. In anticipation, Coca-Cola is testing Coca-Cola Stevia, which will be sweetened only with stevia. A potential showstopper for this product is likely to be

Correct Answer
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All of the following are true about marketing except which?

Correct Answer
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Social responsibility is

Correct Answer
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Figure 1-2 -In Figure 1-2, "A" represents and "B" represents .

Correct Answer
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________ responsible for establishing the organization's mission and objectives.

Correct Answer
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The marketing department of an organization is responsible for facilitating

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

Correct Answer
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To serve both buyers and sellers, marketing seeks to discover and ________ the needs and wants of prospective customers.

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

Correct Answer
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C

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Correct Answer
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Which of the following statements about customer value is most accurate?

Correct Answer
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One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Correct Answer
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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
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B

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters and the Post-it® Flag Pens are true except which?

Correct Answer
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To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation is most closely related to the ________ element of the marketing mix.

Correct Answer
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All of the following are aspects of Trader Joe's customer experience except which?

Correct Answer
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Which of the following statements about marketing activities is most accurate?

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Based on the marketing program 3M developed for its Post-it® Flag Highlighters and Post-it® Flag Pens, one can conclude that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedE

The new Nutritional Fact label requirements taking effect in 2020 will provide more information about added sugars. In anticipation, Coca-Cola is testing Coca-Cola Stevia, which will be sweetened only with stevia. A potential showstopper for this product is likely to be

Correct AnswerverifiedShow Answer

All of the following are true about marketing except which?

Correct AnswerverifiedShow Answer

Social responsibility is

Correct AnswerverifiedShow Answer

Figure 1-2 -In Figure 1-2, "A" represents ________ and "B" represents ________.

Correct AnswerverifiedShow Answer

________ responsible for establishing the organization's mission and objectives.

Correct AnswerverifiedShow Answer

The marketing department of an organization is responsible for facilitating

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

To serve both buyers and sellers, marketing seeks to discover and ________ the needs and wants of prospective customers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedC

The marketing manager's controllable factors-product, price, promotion, and place-that can be used to solve a marketing problem are referred to as

Correct AnswerverifiedShow Answer

Which of the following statements about customer value is most accurate?

Correct AnswerverifiedShow Answer

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

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 AnswerverifiedB

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters and the Post-it® Flag Pens are true except which?

Correct AnswerverifiedShow Answer

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation is most closely related to the ________ element of the marketing mix.

Correct AnswerverifiedShow Answer

All of the following are aspects of Trader Joe's customer experience except which?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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E

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Figure 1-2 -In Figure 1-2, "A" represents and "B" represents .

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C

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B

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