Question 1

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc. ) .If they both purchase the same model smartphone,such as an Apple iPhone,which statement is MOST ACCURATE?

Accepted Answer

A)  The adjuster is a prospective customer because the smartphone will be used for work;the student is only a secondary user since the purpose of the smartphone is just for entertainment.
B)  Both the adjuster and the student are potential customers because in their own way,they both benefit from the smartphone.
C)  Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers.
D)  The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use.
E)  Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones.F) A) and B)
G) A) and C)

Question 2

A target market refers to

Accepted Answer

A)  people who could purchase a product regardless of who ultimately uses it.
B)  one or more specific groups of potential consumers toward which an organization directs its marketing program.
C)  former customers who now use competitors' products.
D)  the cluster of benefits that an organization develops to satisfy consumers' needs.
E)  people with both the desire and the ability to buy a specific offering.F) All of the above
G) B) and D)

Question 3

In marketing,the idea of exchange refers to

Accepted Answer

A)  the negotiation phase between the manufacturer and the seller.
B)  the financial remuneration (monetary payment) for a product or service.
C)  the trade of things of value between buyer and seller so that each is better off after the trade.
D)  the bartering of products and services between non-governmental organizations or individuals.
E)  the practice of swapping products and services for other products and services rather than for money.F) D) and E)
G) None of the above

Question 4

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Accepted Answer

A)  market segment
B)  demographic cluster
C)  organizational buyer group
D)  ultimate consumer group
E)  qualified prospect groupF) All of the above
G) None of the above

Question 5

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters are true EXCEPT:

Accepted Answer

A)  David Windorski,a 3M inventor,designed the second generation of Post-it® Flag Highlighters and Pens without the rotating cover to make it easier to insert replacement flags.
B)  Office workers were initially the intended target market for the Post-it® Flag Highlighter.
C)  In his first attempt,David Windorski,a 3M inventor,designed the Post-it® Flag Highlighter in exactly the right way to appeal to its target market.
D)  David Windorski,the designer of the Post-it® Flag Highlighter,appeared on The Oprah Winfrey show so she could thank him in person for "his most incredible invention."
E)  Recently,3M introduced additions to the Post-it® Flag+ Highlighter line: a Post-it® Flag+ Gel Pen and a Post-it® Flag+ Permanent Marker.F) A) and B)
G) A) and C)

Question 6

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 D)
G) A) and E)

Question 7

In addition to consumers,what other people,groups,and environmental forces interact to influence an organization's marketing activities?

Accepted Answer

Foremost is the organization itself,whos...

Question 8

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate;and (4) something to exchange.

Accepted Answer

A)  a healthy competitive environment
B)  an affordable and actionable advertising campaign
C)  a sense of social responsibility
D)  an ability to see hidden potential within an environmental force
E)  two or more parties (individuals or organizations) with unsatisfied needsF) A) and E)
G) A) and B)

Question 9

As shown in the ad above,U.S.Bank delivers customer value by providing its customers with the best

Accepted Answer

A)  assortment.
B)  products/services.
C)  price.
D)  customer service.
E)  availability.F) None of the above
G) B) and C)

Question 10

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Accepted Answer

A)  production
B)  sales
C)  marketing concept
D)  customer relationship
E)  societal marketingF) B) and D)
G) B) and E)

Question 11

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)  marketingF) A) and B)
G) A) and C)

Question 12

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) B) and C)
G) D) and E)

Question 13

A live theatre performance cannot be touched like a physical object,but is still considered a product.To a marketer,this is an example of a(n) __________.

Accepted Answer

A)  utility
B)  production
C)  value
D)  service
E)  ideaF) A) and D)
G) A) and C)

Question 14

A television advertisement shows several teenagers searching through the refrigerator for something to satisfy their hunger.The refrigerator offers the teenagers many alternatives-celery,bologna,cottage cheese,and box of Hot Pockets Bacon Cheddar Cheese Melt sandwiches (see the photo above) .The ad,which shows the teens happily selecting the Hot Pockets sandwiches,appeals to the consumers' __________ for sustenance to satisfy their hunger and attempts to shape their __________ for the advertised product.

Accepted Answer

A)  needs;wants
B)  wants;needs
C)  wants;cravings
D)  cravings;needs
E)  needs;preferencesF) D) and E)
G) A) and B)

Question 15

The first objective in marketing is to discover consumers' __________.

Accepted Answer

A)  diversity of opinion to create advertising messages
B)  income to determine the most lucrative price point for a product
C)  lifetime value of an offering to the organization
D)  characteristics that would be useful to segment markets
E)  needs to create products that could satisfy themF) C) and D)
G) A) and E)

Question 16

Initially,Facebook targeted which consumer market segment?

Accepted Answer

A)  grade school children ages 6 to 12 years old
B)  high school students
C)  college students
D)  adults with professional occupations
E)  senior adults 55 years and olderF) A) and B)
G) B) and D)

Question 17

A local college of business offers an outstanding graduate business school education program.Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

Accepted Answer

A)  No,because the university earned a profit from Marissa's tuition.
B)  No,because money was exchanged in the form of tuition and Marissa's income will come from her employer,not the graduate school.
C)  No,because the school did not provide Marissa with a tangible product,only the potential of an education.
D)  Yes,because the university promised Marissa she would graduate on time,and she did.
E)  Yes,because paying tuition was exchanged for knowledge that directly led to Marissa's high paying,fulfilling new job.F) A) and B)
G) All of the above

Question 18

In the nonprofit world of the performing arts,box office technology has essentially remained the same since the 1980s.A company called Tessitura is trying to change that.Tessitura is able to track every transaction with its patrons in one database.The information collected includes ticket purchases,fund-raising,volunteering,and gift shop purchases that will help symphonies,operas,and theaters develop customer profiles in order to tailor their sales messages to specific individuals.In other words,Tessitura will allow arts groups to engage in

Accepted Answer

A)  market aggregation.
B)  relationship marketing.
C)  societal marketing.
D)  market mining.
E)  mainstream marketing.F) B) and E)
G) A) and D)

Question 19

Marketing discovers consumer needs by

Accepted Answer

A)  implementing a marketing program.
B)  conducting effective marketing research.
C)  balancing the marketing mix elements-the 4 Ps of the marketing program.
D)  advertising to diverse groups of prospective buyers.
E)  copying the products and services of competitors.F) A) and B)
G) None of the above

Question 20

Which of the following statements best describes a good?

Accepted Answer

A)  Goods are physical objects.
B)  Goods are the only currency that can be used in an exchange.
C)  Goods are intangible concepts and thoughts about ideas or causes.
D)  Goods are the benefits organizations receive for selling products and services.
E)  Goods can be either tangible or intangible.F) A) and B)
G) A) and C)

Exam 1: Creating Customer Relationships and Value Through Marketing

In marketing,the idea of exchange refers to

Correct Answer
verified

Marketing discovers consumer needs by

Correct Answer
verified

A local college of business offers an outstanding graduate business school education program.Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

Correct Answer
verified

All of the following statements about the overall marketing program for 3M's Post-it^® Flag Highlighters are true EXCEPT:

Correct Answer
verified

A target market refers to

Correct Answer
verified

The first objective in marketing is to discover consumers' __________.

Correct Answer
verified

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Correct Answer
verified

Which of the following statements best describes a good?

Correct Answer
verified

In addition to consumers,what other people,groups,and environmental forces interact to influence an organization's marketing activities?

Correct Answer
verified
Foremost is the organization itself,whos...
View Answer

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

Correct Answer
verified

Initially,Facebook targeted which consumer market segment?

Correct Answer
verified

A live theatre performance cannot be touched like a physical object,but is still considered a product.To a marketer,this is an example of a(n) __________.

Correct Answer
verified

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct Answer
verified

Correct Answer
verified

As shown in the ad above,U.S.Bank delivers customer value by providing its customers with the best

Correct Answer
verified

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate;and (4) something to exchange.

Correct Answer
verified

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc. ) .If they both purchase the same model smartphone,such as an Apple iPhone,which statement is MOST ACCURATE?

Correct Answer
verified

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
verified

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

In marketing,the idea of exchange refers to

Correct AnswerverifiedShow Answer

Marketing discovers consumer needs by

Correct AnswerverifiedShow Answer

A local college of business offers an outstanding graduate business school education program.Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

Correct AnswerverifiedShow Answer

All of the following statements about the overall marketing program for 3M's Post-it® Flag Highlighters are true EXCEPT:

Correct AnswerverifiedShow Answer

A target market refers to

Correct AnswerverifiedShow Answer

The first objective in marketing is to discover consumers' __________.

Correct AnswerverifiedShow Answer

With respect to the history of American business,the __________ era is when today's firms continuously seek to satisfy the high expectations of customers.

Correct AnswerverifiedShow Answer

Which of the following statements best describes a good?

Correct AnswerverifiedShow Answer

In addition to consumers,what other people,groups,and environmental forces interact to influence an organization's marketing activities?

Correct AnswerverifiedForemost is the organization itself,whos...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Initially,Facebook targeted which consumer market segment?

Correct AnswerverifiedShow Answer

A live theatre performance cannot be touched like a physical object,but is still considered a product.To a marketer,this is an example of a(n) __________.

Correct AnswerverifiedShow Answer

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

As shown in the ad above,U.S.Bank delivers customer value by providing its customers with the best

Correct AnswerverifiedShow Answer

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate;and (4) something to exchange.

Correct AnswerverifiedShow Answer

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc. ) .If they both purchase the same model smartphone,such as an Apple iPhone,which statement is MOST ACCURATE?

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 AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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All of the following statements about the overall marketing program for 3M's Post-it^® Flag Highlighters are true EXCEPT:

Correct Answer
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Correct Answer
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Foremost is the organization itself,whos...
View Answer

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