Question 1

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.Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Accepted Answer

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

Question 2

The four Ps are commonly known as

Accepted Answer

A)  the environmental or uncontrollable forces.
B)  the environmental or controllable factors.
C)  the marketing mix or controllable factors.
D)  the marketing mix or uncontrollable forces.
E)  predict,produce,package,and persuade.F) D) and E)
G) A) and E)

Question 3

Many market-oriented,older manufacturing organizations have experienced four distinct stages in the life of their firms.Beginning with the 1860s,list and define each of the four eras of U.S.business history.

Accepted Answer

(1)During the production era,which start...

Question 4

3M's place strategy in its marketing program made it convenient for __________ to buy Post-it® Flag Highlighters and Post-it® Flag Pens.

Accepted Answer

A)  external salespeople only
B)  college students only
C)  office workers only
D)  college students and office workers
E)  teachers onlyF) A) and B)
G) A) and C)

Question 5

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 non-competitive products that target similar markets
E)  the coordination between the various departments within the entire firmF) B) and D)
G) All of the above

Question 6

It 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 7

Four 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)  an affordable and actionable advertising campaign
B)  something to exchange
C)  a healthy competitive environment
D)  government approval
E)  an ability to see hidden potential within an environmental forceF) A) and B)
G) C) and E)

Question 8

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) A) and D)
G) A) and C)

Question 9

With 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) A) and C)
G) B) and E)

Question 10

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)  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 man,woman,or child who uses products purchased for a household.F) A) and D)
G) B) and D)

Question 11

Chobani used all of the following tactics to promote its Chobani Greek Yogurt EXCEPT:

Accepted Answer

A)  sponsored the Food Network's Rachel vs.Guy Kids Kick-Off TV show with its Chobani Champions Tubes.
B)  created a website to provide consumers with recipes that use Chobani Greek Yogurt.
C)  sponsored the 2012 U.S.Olympic Team.
D)  used its CHOmobile to offer samples of its Greek Yogurt to first-time customers.
E)  relied on word-of-mouth in its early years.F) B) and E)
G) B) and D)

Question 12

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)  manipulate
E)  preserveF) A) and B)
G) A) and C)

Question 13

A student would like to buy cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

Accepted Answer

A)  two or more parties have unsatisfied needs.
B)  there is no desire on the part of either party to satisfy its needs.
C)  one of the involved parties does not have the ability to satisfy its needs.
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 D)
G) C) and D)

Question 14

S.business history,the marketing concept era began in __________.

Accepted Answer

A)  the early years of the Civil War
B)  the 1920s
C)  the late 1950s
D)  the mid-1980s
E)  the first few years of the 21st centuryF) A) and E)
G) A) and D)

Question 15

Which of the following statements about marketing is MOST ACCURATE?

Accepted Answer

A)  Unless you take a marketing class,you will never truly know anything about marketing.
B)  Marketing is nothing more than common sense.
C)  Marketing requires an innate sense of creativity;you either have it or you don't.
D)  You can call yourself a marketing expert only if you have sold something.
E)  You are already a marketing expert because as a consumer,you have already been involved in marketing decisions.F) A) and E)
G) B) and D)

Question 16

The linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefit is referred to as

Accepted Answer

A)  relationship marketing.
B)  exclusive dealing.
C)  loyalty marketing.
D)  customer relationship management.
E)  symbiotic marketing.F) None of the above
G) A) and B)

Question 17

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Accepted Answer

A)  albatross
B)  land mine
C)  pit fall
D)  showstopper
E)  wild cardF) B) and E)
G) A) and E)

Question 18

The Terrafugia Transition (see the photo above) is a 19-foot,two-seater road-drivable,light-sport aircraft with an anticipated price of $279,000.The MOST LIKELY prospective customers for this flying car would include

Accepted Answer

A)  students who attend college at least 500 miles away from home.
B)  retired seniors receiving social security.
C)  executives for whom time is extremely important.
D)  teens who like to try new things.
E)  families in need of a second vehicle.F) None of the above
G) C) and E)

Question 19

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Accepted Answer

The American Marketing Association repre...

Question 20

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

Exam 1: Creating Customer Relationships and Value Through Marketing

The four utilities marketing creates are

Correct AnswerverifiedShow Answer

The four Ps are commonly known as

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

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.Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Correct AnswerverifiedShow Answer

The marketing department of an organization is responsible for facilitating __________.

Correct AnswerverifiedShow Answer

The Terrafugia Transition (see the photo above) is a 19-foot,two-seater road-drivable,light-sport aircraft with an anticipated price of $279,000.The MOST LIKELY prospective customers for this flying car would include

Correct AnswerverifiedShow Answer

The linking of the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefit is referred to as

Correct AnswerverifiedShow Answer

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

Many market-oriented,older manufacturing organizations have experienced four distinct stages in the life of their firms.Beginning with the 1860s,list and define each of the four eras of U.S.business history.

Correct Answerverified(1)During the production era,which start...View AnswerShow Answer

A student would like to buy cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

Correct AnswerverifiedShow Answer

S.business history,the marketing concept era began in __________.

Correct AnswerverifiedShow Answer

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Correct AnswerverifiedThe American Marketing Association repre...View AnswerShow Answer

Organizational buyers are described as

Correct AnswerverifiedShow Answer

It 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

Which of the following statements about marketing is MOST ACCURATE?

Correct AnswerverifiedShow Answer

Chobani used all of the following tactics to promote its Chobani Greek Yogurt EXCEPT:

Correct AnswerverifiedShow Answer

3M's place strategy in its marketing program made it convenient for __________ to buy Post-it® Flag Highlighters and Post-it® Flag Pens.

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

Four 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

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

Correct AnswerverifiedShow Answer

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(1)During the production era,which start...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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The American Marketing Association repre...
View Answer

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

Correct Answer
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Correct Answer
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3M's place strategy in its marketing program made it convenient for __________ to buy Post-it^® Flag Highlighters and Post-it^® Flag Pens.

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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