Question 1

In Tokyo Disneyland,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 2

Distinguish between the concepts of value and satisfaction.

Accepted Answer

The offering will be successful if it de

Question 3

The marketing concept holds that ________.

Accepted Answer

A) a firm should find the right products for its customers,and not the right customers for its products 
B) customers who are coaxed into buying a product will most likely buy it again 
C) a new product will not be successful unless it is priced,distributed,and sold properly 
D) consumers and businesses,if left alone,won't buy enough of the organization's products 
E) a better product will by itself lead people to buy it without much effort from the sellers 
A) a firm should find the right products for its customers,and not the right customers for its products 
B) customers who are coaxed into buying a product will most likely buy it again 
C) a new product will not be successful unless it is priced,distributed,and sold properly 
D) consumers and businesses,if left alone,won't buy enough of the organization's products 
E) a better product will by itself lead people to buy it without much effort from the sellers

Question 4

Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.

Accepted Answer

A) True 
 B)False

Question 5

Discuss how companies can use the Internet to build their brands.Give an example of a company that has done so.

Accepted Answer

Online marketing activities can be used

Question 6

Julia is worried about the rising pollution levels in her city.She doesn't mind paying extra for goods and services that use sustainable processes to help control pollution.This is an example of ________ for pollution.

Accepted Answer

A) declining demand 
B) nonexistent demand 
C) latent demand 
D) negative demand 
E) unwholesome demand 
A) declining demand 
B) nonexistent demand 
C) latent demand 
D) negative demand 
E) unwholesome demand

Question 7

Incorporating the holistic view of marketing,the four Ps of the marketing mix can be updated to ________.

Accepted Answer

A) product,positioning,people,and price 
B) people,processes,place,and promotion 
C) product,processes,price,and people 
D) people,processes,programs,and performance 
E) product,price,promotion,and people 
A) product,positioning,people,and price 
B) people,processes,place,and promotion 
C) product,processes,price,and people 
D) people,processes,programs,and performance 
E) product,price,promotion,and people

Question 8

When Volvo runs ads suggesting that its cars are the safest that money can buy,it is trying to ________.

Accepted Answer

A) segment the market 
B) provide a service 
C) enter new a new market 
D) develop brand loyalty 
E) position its product 
A) segment the market 
B) provide a service 
C) enter new a new market 
D) develop brand loyalty 
E) position its product

Question 9

Organizations seldom work to build a strong,favorable,and unique image in the minds of
their target public.

Accepted Answer

A) True 
 B)False

Question 10

New terms are now being used to describe where marketing is done.Using the automobile market,describe automotive buying behavior for a: (1)marketplace, (2)marketspace,and (3)metamarket.

Accepted Answer

Responses to this question should includ

Question 11

The value of an offering is described as ________.

Accepted Answer

A) the price consumers are charged for a product 
B) the cost of manufacturing a product 
C) the degree to which consumer demand for a product is positive 
D) the sum of the tangible and intangible benefits and costs to customers 
E) the intangible benefits gained from a product 
A) the price consumers are charged for a product 
B) the cost of manufacturing a product 
C) the degree to which consumer demand for a product is positive 
D) the sum of the tangible and intangible benefits and costs to customers 
E) the intangible benefits gained from a product

Question 12

The production concept is one of the newest concepts in business.

Accepted Answer

A) True 
 B)False

Question 13

Integrated marketing is the task of hiring,training,and motivating able employees who want to serve customers well.

Accepted Answer

A) True 
 B)False

Question 14

The ________ process consists of analyzing marketing opportunities,selecting target markets,designing marketing strategies,developing marketing programs,and managing the marketing effort.

Accepted Answer

A) marketing planning 
B) strategic planning 
C) market research 
D) opportunity analysis 
E) operational management 
A) marketing planning 
B) strategic planning 
C) market research 
D) opportunity analysis 
E) operational management

Question 15

Asia Webnex Pte Ltd produced and marketed cameras.After considerable research and development,they developed a new digital camera that had an array of new features.Asia Webnex was so sure about the new offering that they even reduced their marketing budget.What sort of orientation does Asia Webnex have toward the marketplace?

Accepted Answer

A) production orientation 
B) product orientation 
C) selling orientation 
D) marketing orientation 
E) holistic marketing orientation 
A) production orientation 
B) product orientation 
C) selling orientation 
D) marketing orientation 
E) holistic marketing orientation

Question 16

At the heart of any marketing program is the firm's ________,its tangible offering to the market.

Accepted Answer

A) strategy 
B) product 
C) brand 
D) value 
E) people 
A) strategy 
B) product 
C) brand 
D) value 
E) people

Question 17

__________ recognizes and reconciles the scope and complexities of marketing activities.

Accepted Answer

A) Niche marketing 
B) Holistic marketing 
C) Relationship marketing 
D) Supply chain marketing 
E) Demand-centered marketing 
A) Niche marketing 
B) Holistic marketing 
C) Relationship marketing 
D) Supply chain marketing 
E) Demand-centered marketing

Question 18

Companies can facilitate and speed external communication among customers by creating online and off-line "buzz" through brand advocates and user communities.

Accepted Answer

A) True 
 B)False

Question 19

A ________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.

Accepted Answer

A) metamarket 
B) vertically integrated market 
C) horizontally integrated market 
D) marketspace 
E) synchronized market 
A) metamarket 
B) vertically integrated market 
C) horizontally integrated market 
D) marketspace 
E) synchronized market

Question 20

Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries.This is called ________.

Accepted Answer

A) globalization 
B) customization 
C) industry convergence 
D) disintermediation 
E) privatization 
A) globalization 
B) customization 
C) industry convergence 
D) disintermediation 
E) privatization

Exam 1: Defining Marketing for the New Realities

In Tokyo Disneyland,customers can visit a fairy kingdom,a pirate ship,or even a haunted house.Disney is marketing a(n)________.

Distinguish between the concepts of value and satisfaction.

The marketing concept holds that ________.

Regulation of industries has created greater competition and growth opportunities because the playing field has been leveled.

Discuss how companies can use the Internet to build their brands.Give an example of a company that has done so.

Julia is worried about the rising pollution levels in her city.She doesn't mind paying extra for goods and services that use sustainable processes to help control pollution.This is an example of ________ for pollution.

Incorporating the holistic view of marketing,the four Ps of the marketing mix can be updated to ________.

When Volvo runs ads suggesting that its cars are the safest that money can buy,it is trying to ________.

Organizations seldom work to build a strong,favorable,and unique image in the minds of their target public.

New terms are now being used to describe where marketing is done.Using the automobile market,describe automotive buying behavior for a: (1)marketplace, (2)marketspace,and (3)metamarket.

The value of an offering is described as ________.

The production concept is one of the newest concepts in business.

Integrated marketing is the task of hiring,training,and motivating able employees who want to serve customers well.

The ________ process consists of analyzing marketing opportunities,selecting target markets,designing marketing strategies,developing marketing programs,and managing the marketing effort.

At the heart of any marketing program is the firm's ________,its tangible offering to the market.

__________ recognizes and reconciles the scope and complexities of marketing activities.

Companies can facilitate and speed external communication among customers by creating online and off-line "buzz" through brand advocates and user communities.

A ________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.

Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries.This is called ________.

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

Filters