Question 1

four Ps of the marketing mix are

Accepted Answer

A)   priorities, personnel, placement, and profits.
B)   prediction, production, pricing, and promotion.
C)   product, price, production, and place.
D)   product, price, promotion, and place.
E)   predict, produce, package, and persuade.F) A) and B)
G) All of the above

Question 2

marketing mix elements are called __________ because they are under the jurisdiction of the marketing department in an organization.

Accepted Answer

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

Question 3

Organizational buyers are described as

Accepted Answer

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

Question 4

factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) __________.

Accepted Answer

A)   a sense of social responsibility
B)   something to exchange
C)   a healthy competitive environment
D)   government approval
E)   an ability to see hidden potential within an environmental forceF) C) and D)
G) A) and B)

Question 5

combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines marketing as

Accepted Answer

A)   the activity for creating, communicating, delivering, and exchanging offerings solely for the benefit of the organization's stockholders.
B)   the activity for creating, communicating, delivering, and exchanging solely for the benefit of the organization's customers.
C)   the activity for creating, communicating, and delivering a product or service at the highest possible price.
D)   the activities of advertising, promoting, and selling products to the greatest number of profitable customers.
E)   the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.F) A) and C)
G) A) and D)

Question 6

organization with a market orientation

Accepted Answer

A)   focuses its efforts on: (1)  continuously collecting information about the environment; (2)  keeping abreast of the actions of its competitors; and (3)  using this information to create customer value.
B)   identifies prospective buyers, understands them intimately, and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace.
C)   strives to satisfy the needs of consumers while also trying to achieve its goals.
D)   satisfies the needs of consumers in a way that provides for society's well-being.
E)   focuses its efforts on: (1)  continuously collecting information about customers' needs; (2)  sharing this information across departments; and (3)  using it to create customer value.F) C) and D)
G) A) and B)

Question 7

today's smartphones,you can watch the news,shoot videos,browse the Internet,take pictures,and listen to music.And more and improved new features are added with each new smartphone introduced from Apple,Samsung,BlackBerry,etc.As a result,consumers may want to replace their existing smartphones with new models or brands.This increase in demand is due in part to changes in ___________,an environmental force.

Accepted Answer

A)   competition
B)   social culture
C)   technology
D)   regulations
E)   the economyF) C) and E)
G) D) and E)

Question 8

Innovators at 3M developed Scotch-Brite® Never Rust Wool Soap Pads from recycled plastic bottles.Even though these soap pads are more expensive than competitive brands (Brillo and SOS) ,customers are willing to pay the premium price.Customers appreciate the value of a superior product (they don't rust or scratch) and appreciate the fact that their purchase is environmentally responsible.This demonstrates that

Accepted Answer

A)   an organization can be environmentally conscious while still satisfying its customers and remaining competitive in the market.
B)   an organization can use a customer's sense of social responsibility to its own advantage even though the effects are minimal.
C)   if a company uses recycled materials, it can always charge more than what a product is actually worth.
D)   it is more important to act in a socially responsible manner than to consider the profits and goals of the organization.
E)   the first brand that creates a new product gets to charge the highest price and make the greatest profits.F) A) and E)
G) B) and C)

Question 9

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)   marketingF) A) and E)
G) A) and C)

Question 10

companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Accepted Answer

A)   marketing concept.
B)   customer relationship management concept.
C)   consumerism.
D)   social entrepreneurship.
E)   cause marketing.F) B) and D)
G) All of the above

Question 11

Which of the following terms best describes the marketing concept era?

Accepted Answer

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

Question 12

1952,General Electric's annual report stated,"The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Accepted Answer

A)   sustainability perspective.
B)   age of consumerism.
C)   sales concept.
D)   marketing concept.
E)   customer relationship management concept.F) C) and D)
G) C) and E)

Question 13

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 14

is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Accepted Answer

Goods are physical objects,such as tooth...

Question 15

United States Army recently has been both praised and criticized for its use of a popular video game-America's Army,which is designed to reach potential recruits.The game's creator,Colonel Casey Wardynski,wanted to provide a sense of the training and teamwork one could find in the military environment.The game is designed for "boys 14 years or older," which represent the Army's __________.

Accepted Answer

A)   mass market
B)   actual recruits
C)   restricted market
D)   target market
E)   untapped marketF) C) and D)
G) B) and D)

Question 16

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

Accepted Answer

A)   Target customers receive customer value in terms of a combination of benefits (quality, convenience, etc.)  at any 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 all firms can be successful by being all things to all consumers.
D)   It is impossible to place a dollar value on a loyal, satisfied customer.
E)   To create value for targeted buyers, firms must build long-term relationships with them.F) B) and D)
G) None of the above

Question 17

the movie Tin Men,two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners in 1963.Their job was difficult,in part,because the supply of aluminum siding surpassed the demand for the product and competition was intense.This situation is indicative of the __________ era of U.S.business history.

Accepted Answer

A)   goods
B)   sales
C)   production
D)   market orientation
E)   societal marketingF) A) and E)
G) B) and E)

Question 18

Which of the following statements best describes a service?

Accepted Answer

A)   Services are physical objects.
B)   Services are intangible items.
C)   Services are intangible concepts and thoughts about ideas or causes.
D)   Services are the benefits organizations receive in exchange for selling products.
E)   Services comprise the subset of tangible features of products.F) All of the above
G) C) and D)

Question 19

respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.

Accepted Answer

A)   production
B)   sales
C)   marketing concept
D)   customer relationship
E)   market orientationF) None of the above
G) D) and E)

Question 20

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Accepted Answer

Marketing creates utility,the benefits o...

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following terms best describes the marketing concept era?

Correct Answer
verified

combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines marketing as

Correct Answer
verified

Organizational buyers are described as

Correct Answer
verified

Correct Answer
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respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.

Correct Answer
verified

organization with a market orientation

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

1952,General Electric's annual report stated,"The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Correct Answer
verified

factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) __________.

Correct Answer
verified

companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Correct Answer
verified

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Correct Answer
verified
Marketing creates utility,the benefits o...
View Answer

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

is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Correct Answer
verified
Goods are physical objects,such as tooth...
View Answer

marketing mix elements are called __________ because they are under the jurisdiction of the marketing department in an organization.

Correct Answer
verified

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

Correct Answer
verified

four Ps of the marketing mix are

Correct Answer
verified

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

Correct Answer
verified

Which of the following statements best describes a service?

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following terms best describes the marketing concept era?

Correct AnswerverifiedShow Answer

combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines marketing as

Correct AnswerverifiedShow Answer

Organizational buyers are described as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.

Correct AnswerverifiedShow Answer

organization with a market orientation

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

1952,General Electric's annual report stated,"The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

Correct AnswerverifiedShow Answer

factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) __________.

Correct AnswerverifiedShow Answer

companies subscribe to being "green" because they feel that consumers value this.Yet,in many of these same firms,office computers are left on 24 hours a day and office paper is not recycled.This example indicates it is not always easy for firms to act in accordance with the

Correct AnswerverifiedShow Answer

Explain what is meant by the concept of marketing utility.Identify and describe the four utilities created by marketing.

Correct AnswerverifiedMarketing creates utility,the benefits o...View AnswerShow Answer

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

is said that goods,services,and ideas are marketed.Define goods,services,and ideas and give at least one example of each.

Correct AnswerverifiedGoods are physical objects,such as tooth...View AnswerShow Answer

marketing mix elements are called __________ because they are under the jurisdiction of the marketing department in an organization.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

four Ps of the marketing mix are

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

Correct AnswerverifiedShow Answer

Which of the following statements best describes a service?

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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Correct Answer
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Correct Answer
verified
Marketing creates utility,the benefits o...
View Answer

Correct Answer
verified

Correct Answer
verified
Goods are physical objects,such as tooth...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
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Correct Answer
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