Question 1

Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.

Accepted Answer

A)  It has facilitated high-speed communication among employees. 
B)  It has empowered consumers with easy access to information. 
C)  It can be used as a powerful sales channel. 
D)  It has facilitated mass marketing but not the sale of customized products. 
E)  It enables marketers to use social media to advertise their products. 
A)  It has facilitated high-speed communication among employees. 
B)  It has empowered consumers with easy access to information. 
C)  It can be used as a powerful sales channel. 
D)  It has facilitated mass marketing but not the sale of customized products. 
E)  It enables marketers to use social media to advertise their products.

Question 2

Companies address needs by putting forth a ________, a set of benefits that they offer to customers to satisfy their needs.

Accepted Answer

A)  brand 
B)  value proposition 
C)  deal 
D)  marketing plan 
E)  demand 
A)  brand 
B)  value proposition 
C)  deal 
D)  marketing plan 
E)  demand

Question 3

Distinguish between the concepts of value and satisfaction.

Accepted Answer

The offering will be successful if it de

Question 4

Which of the following is NOT one of the 4 As customers most value?

Accepted Answer

A)  acceptability 
B)  affordability 
C)  affability 
D)  accessibility 
E)  awareness 
A)  acceptability 
B)  affordability 
C)  affability 
D)  accessibility 
E)  awareness

Question 5

Holistic marketing incorporates ________ marketing, an understanding of broader concerns in the ethical, environmental, legal, and social context of marketing activities.

Accepted Answer

A)  internal 
B)  cultural 
C)  social responsibility 
D)  relationship 
E)  integrated 
A)  internal 
B)  cultural 
C)  social responsibility 
D)  relationship 
E)  integrated

Question 6

The marketing mix component called "people" reflects all the creativity, discipline, and structure brought to marketing management.

Accepted Answer

A) True 
 B)False

Question 7

By 2025, annual consumption in emerging markets will total $30 trillion and contribute more than ________ percent of global GDP growth.

Accepted Answer

A)  65 
B)  70 
C)  78 
D)  81 
E)  85 
A)  65 
B)  70 
C)  78 
D)  81 
E)  85

Question 8

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________ markets.

Accepted Answer

A)  target 
B)  capital 
C)  tertiary 
D)  demographic 
E)  developing 
A)  target 
B)  capital 
C)  tertiary 
D)  demographic 
E)  developing

Question 9

Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation?

Accepted Answer

A)  nonexistent demand 
B)  latent demand 
C)  full demand 
D)  unwholesome demand 
E)  overfull demand 
A)  nonexistent demand 
B)  latent demand 
C)  full demand 
D)  unwholesome demand 
E)  overfull demand

Question 10

Identify the correct statement about marketing management.

Accepted Answer

A)  It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. 
B)  It focuses mostly on monitoring the profitability of a company's products and services. 
C)  It focuses solely on attaining an organization's sales goals in an efficient manner. 
D)  It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. 
E)  It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. 
A)  It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. 
B)  It focuses mostly on monitoring the profitability of a company's products and services. 
C)  It focuses solely on attaining an organization's sales goals in an efficient manner. 
D)  It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. 
E)  It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

Question 11

Demands are wants for specific products backed by an ability to pay.

Accepted Answer

A) True 
 B)False

Question 12

Digital technology is fueling massive reintermediation, like when Apple, Sony, and Samsung released a stream of entertainment devices from smart phones to LED TVs and tablets.

Accepted Answer

A) True 
 B)False

Question 13

A(n) ________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.

Accepted Answer

A)  secondary 
B)  unstated 
C)  delight 
D)  secret 
E)  stated 
A)  secondary 
B)  unstated 
C)  delight 
D)  secret 
E)  stated

Question 14

Which of the following is NOT a consumer touch point?

Accepted Answer

A)  store layouts 
B)  package designs 
C)  product functions 
D)  shipping and logistics 
E)  All of these are touch points. 
A)  store layouts 
B)  package designs 
C)  product functions 
D)  shipping and logistics 
E)  All of these are touch points.

Question 15

Before rolling out a new marketing communications campaign, employees went to a rally and received training on why the company was changing directions and what it would mean to their customers, which is an example of relationship marketing.

Accepted Answer

A) True 
 B)False

Question 16

Building strong brands is the marketing task where the marketer is using a reliable marketing information system to monitor the marketing environment so s/he can assess market potential and demand focused on.

Accepted Answer

A) True 
 B)False

Question 17

In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________.

Accepted Answer

A)  experience 
B)  service 
C)  event 
D)  organization 
E)  good 
A)  experience 
B)  service 
C)  event 
D)  organization 
E)  good

Question 18

Atlas camera division produces a range of professional quality 35mm and consumer-friendly digital cameras. The 35mm market is rapidly declining and the faster-growing digital camera segment is saturated with competition, so Atlas is struggling with sales. Identify the marketing tasks the management team would need to address to make Atlas competitive in the digital camera space.

Accepted Answer

1. Market Research: The management team

Question 19

Marketers should be skilled in stimulating demand for a company's products. Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the organization's objectives. List and briefly describe the eight different demand states.

Accepted Answer

The eight different demand states are:
1

Question 20

When consumers share a strong need that cannot be satisfied by an existing product, they are exhibiting latent demand.

Accepted Answer

A) True 
 B)False

Exam 1: Defining Marketing for the New Realities

Each of the following is true about the Internet's impact on the way business is conducted today, EXCEPT one. Identify the exception.

Companies address needs by putting forth a ________, a set of benefits that they offer to customers to satisfy their needs.

Distinguish between the concepts of value and satisfaction.

Which of the following is NOT one of the 4 As customers most value?

Holistic marketing incorporates ________ marketing, an understanding of broader concerns in the ethical, environmental, legal, and social context of marketing activities.

The marketing mix component called "people" reflects all the creativity, discipline, and structure brought to marketing management.

By 2025, annual consumption in emerging markets will total $30 trillion and contribute more than ________ percent of global GDP growth.

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________ markets.

Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation?

Identify the correct statement about marketing management.

Demands are wants for specific products backed by an ability to pay.

Digital technology is fueling massive reintermediation, like when Apple, Sony, and Samsung released a stream of entertainment devices from smart phones to LED TVs and tablets.

A(n) ________ need is one that the consumer is reluctant or unwilling to explicitly verbalize.

Which of the following is NOT a consumer touch point?

Before rolling out a new marketing communications campaign, employees went to a rally and received training on why the company was changing directions and what it would mean to their customers, which is an example of relationship marketing.

Building strong brands is the marketing task where the marketer is using a reliable marketing information system to monitor the marketing environment so s/he can assess market potential and demand focused on.

In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________.

When consumers share a strong need that cannot be satisfied by an existing product, they are exhibiting latent demand.

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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