Question 1

The customer-value triad consists of a combination of quality,service,and price.

Accepted Answer

A) True 
 B)False

Question 2

When a customer has a(n)________ need,the customer might expect something like admiration from friends because he or she has purchased something that might indicate a certain market savvy.

Accepted Answer

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

Question 3

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

Accepted Answer

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

Question 4

In ________,consumers dislike the product and may even pay a price to avoid it.

Accepted Answer

A) nonexistent demand 
B) overfull demand 
C) irregular demand 
D) negative demand 
E) declining demand 
A) nonexistent demand 
B) overfull demand 
C) irregular demand 
D) negative demand 
E) declining demand

Question 5

In response to threats from such companies as AOL,Amazon.com,Yahoo!,eBay,E*TRADE,and dozens of others,established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings.This process became known as ________.

Accepted Answer

A) reintermediation 
B) disintermediation 
C) e-commerce 
D) e-collaboration 
E) new-market synchronization 
A) reintermediation 
B) disintermediation 
C) e-commerce 
D) e-collaboration 
E) new-market synchronization

Question 6

Value reflects ________.

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

Question 7

Managers of ________-oriented businesses concentrate on achieving high production efficiency,low costs,and mass distribution.

Accepted Answer

A) selling 
B) product 
C) production 
D) marketing 
E) consumer 
A) selling 
B) product 
C) production 
D) marketing 
E) consumer

Question 8

Identify and define the four Ps and the corresponding consumer-oriented SIVA dimensions.

Accepted Answer

The four Ps are: Product (product variet

Question 9

In which of the following dimensions of holistic marketing might we find an emphasis on communications,products and services,and channels?

Accepted Answer

A) Internal marketing 
B) Integrated marketing 
C) Socially responsible marketing 
D) Global marketing 
E) Relationship marketing 
A) Internal marketing 
B) Integrated marketing 
C) Socially responsible marketing 
D) Global marketing 
E) Relationship marketing

Question 10

A firm can ________ only in the long run.

Accepted Answer

A) reduce its sales-force size 
B) develop new products 
C) change its price 
D) modify advertising expenditures 
E) All of the above may be done in the short or long run. 
A) reduce its sales-force size 
B) develop new products 
C) change its price 
D) modify advertising expenditures 
E) All of the above may be done in the short or long run.

Question 11

Making gifts of money,goods,or time to help nonprofit organizations,groups,or individuals is known as corporate philanthropy.

Accepted Answer

A) True 
 B)False

Question 12

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 13

Because of surprises and disappointments that can occur as marketing plans are implemented,the company will need feedback and control to improve itself.

Accepted Answer

A) True 
 B)False

Question 14

Examine and document the factors that have brought about customers' higher expectations of their suppliers.What are the major shifts in marketing management that have brought about these changes?

Accepted Answer

Students may not understand that our wor

Question 15

The marketing-mix component called promotion includes such items as product variety,design,packaging,services,and warranties.

Accepted Answer

A) True 
 B)False

Question 16

What would be a good social definition of marketing?

Accepted Answer

Marketing is a societal proces

Question 17

Your firm is in the process of moving from focusing on a financial scorecard as the basis for running and evaluating your organization to a marketing scorecard approach.What is a marketing scorecard approach and what might be some of its components?

Accepted Answer

Top management is going beyond sales rev

Question 18

________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

Accepted Answer

A) Marketing management 
B) Forecasting 
C) Segmentation 
D) Targeting 
E) Distribution 
A) Marketing management 
B) Forecasting 
C) Segmentation 
D) Targeting 
E) Distribution

Question 19

Janet is very upset that she can't get tickets to the new Rolling Stones concert."Why do they keep advertising the show if you can't get tickets?" wonders Janet.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 20

In a simple marketing system,if the automobile industry sends advertising and personal sales messages to prospective buyers,it expects ________ in exchange.

Accepted Answer

A) goods 
B) services 
C) money 
D) information 
E) image enhancement 
A) goods 
B) services 
C) money 
D) information 
E) image enhancement

Exam 1: Defining Marketing for the 21st Century

The customer-value triad consists of a combination of quality,service,and price.

When a customer has a(n)________ need,the customer might expect something like admiration from friends because he or she has purchased something that might indicate a certain market savvy.

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

In ________,consumers dislike the product and may even pay a price to avoid it.

In response to threats from such companies as AOL,Amazon.com,Yahoo!,eBay,E*TRADE,and dozens of others,established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings.This process became known as ________.

Value reflects ________.

Managers of ________-oriented businesses concentrate on achieving high production efficiency,low costs,and mass distribution.

Identify and define the four Ps and the corresponding consumer-oriented SIVA dimensions.

In which of the following dimensions of holistic marketing might we find an emphasis on communications,products and services,and channels?

A firm can ________ only in the long run.

Making gifts of money,goods,or time to help nonprofit organizations,groups,or individuals is known as corporate philanthropy.

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.

Because of surprises and disappointments that can occur as marketing plans are implemented,the company will need feedback and control to improve itself.

Examine and document the factors that have brought about customers' higher expectations of their suppliers.What are the major shifts in marketing management that have brought about these changes?

The marketing-mix component called promotion includes such items as product variety,design,packaging,services,and warranties.

What would be a good social definition of marketing?

Your firm is in the process of moving from focusing on a financial scorecard as the basis for running and evaluating your organization to a marketing scorecard approach.What is a marketing scorecard approach and what might be some of its components?

________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

Janet is very upset that she can't get tickets to the new Rolling Stones concert."Why do they keep advertising the show if you can't get tickets?" wonders Janet.Which of the following demand states applies to Janet's situation?

In a simple marketing system,if the automobile industry sends advertising and personal sales messages to prospective buyers,it expects ________ in exchange.

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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