Question 1

A ________ is the ultimate user of a good or service.

Accepted Answer

A) stakeholder 
B) market 
C) target market 
D) marketer 
E) consumer 
A) stakeholder 
B) market 
C) target market 
D) marketer 
E) consumer

Question 2

The ________ is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

Accepted Answer

A) marketing mix 
B) marketing plan 
C) value proposition 
D) value chain 
E) open source model 
A) marketing mix 
B) marketing plan 
C) value proposition 
D) value chain 
E) open source model

Question 3

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

Accepted Answer

A) True 
 B)False

Question 4

A firm has a competitive advantage when it is able to outperform the competition,providing customers with a desired benefit not provided by the competition.

Accepted Answer

A) True 
 B)False

Question 5

The ratio of benefits to costs is one way to think of ________.

Accepted Answer

A) sustainability 
B) profits 
C) value 
D) competitive advantage 
E) distinctive competency 
A) sustainability 
B) profits 
C) value 
D) competitive advantage 
E) distinctive competency

Question 6

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

Accepted Answer

A) e-commerce 
B) virtual exchange of goods 
C) the attention economy 
D) collaborative consumption 
E) the instapreneur market 
A) e-commerce 
B) virtual exchange of goods 
C) the attention economy 
D) collaborative consumption 
E) the instapreneur market

Question 7

Which of the following is an example of a transaction that might occur in business-to-business marketing?

Accepted Answer

A) Maurice buys a new razor on his way home from work. 
B) The amateur gardener buys a new wheelbarrow. 
C) The retail outlet buys athletic shoes to sell in its store. 
D) The professional chef bakes a birthday cake for her son. 
E) Robyn's mother hires a math tutor to help Robyn pass algebra. 
A) Maurice buys a new razor on his way home from work. 
B) The amateur gardener buys a new wheelbarrow. 
C) The retail outlet buys athletic shoes to sell in its store. 
D) The professional chef bakes a birthday cake for her son. 
E) Robyn's mother hires a math tutor to help Robyn pass algebra.

Question 8

The elements of the marketing mix are the four Ps.

Accepted Answer

A) True 
 B)False

Question 9

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

Accepted Answer

A) value chain 
B) value proposition 
C) differential benefit 
D) return on investment (ROI) 
E) utility function 
A) value chain 
B) value proposition 
C) differential benefit 
D) return on investment (ROI) 
E) utility function

Question 10

A value proposition includes the whole bundle of benefits the firm promises to deliver,not just the benefits of the product itself.

Accepted Answer

A) True 
 B)False

Question 11

The first phase of marketing planning is the development of a market position.

Accepted Answer

A) True 
 B)False

Question 12

Why should a firm be aware of its competitors' distinctive competencies?

Accepted Answer

A distinctive competence is a firm's cap

Question 13

When Tony rented a loft apartment where he would live for the summer,he acted as a ________.

Accepted Answer

A) consumer 
B) shareholder 
C) producer 
D) marketer 
E) retailer 
A) consumer 
B) shareholder 
C) producer 
D) marketer 
E) retailer

Question 14

All of the following are forms of utility created by marketing processes except ________.

Accepted Answer

A) form utility 
B) place utility 
C) time utility 
D) possession utility 
E) price utility 
A) form utility 
B) place utility 
C) time utility 
D) possession utility 
E) price utility

Question 15

Consumers who share their ideas about products with companies for fun or a challenge,rather than a paycheck,are referred to as ________.

Accepted Answer

A) instapreneurs 
B) amafessionals 
C) consumed consumers 
D) folksonomists 
E) open sourcers 
A) instapreneurs 
B) amafessionals 
C) consumed consumers 
D) folksonomists 
E) open sourcers

Question 16

When comparing itself to its competitors,Hidden Valley describes its Ranch dressing as the original.This is the ________ the manufacturer has selected for the product.

Accepted Answer

A) marketing mix 
B) market segment 
C) market position 
D) marketing concept 
E) value chain 
A) marketing mix 
B) market segment 
C) market position 
D) marketing concept 
E) value chain

Question 17

Providing service to the customer after a purchase is not an activity associated with the value chain.

Accepted Answer

A) True 
 B)False

Question 18

________ is the assignment of a product's value,or the amount the consumer must exchange to receive the offering.

Accepted Answer

A) Promotion 
B) Price 
C) Benefit 
D) Need 
E) Utility 
A) Promotion 
B) Price 
C) Benefit 
D) Need 
E) Utility

Question 19

________ is a decision process in which marketing managers determine the strategies that will help the firm meet its long-term objectives and then execute those strategies using the tools they have at their disposal.

Accepted Answer

A) Total quality management 
B) Sustainability 
C) Return on investment 
D) Marketing 
E) The open source model 
A) Total quality management 
B) Sustainability 
C) Return on investment 
D) Marketing 
E) The open source model

Question 20

A firm's capability that is superior to that of its competition is referred to as a(n)________.

Accepted Answer

A) distinctive competency 
B) added value 
C) value proposition 
D) value chain 
E) social benefit 
A) distinctive competency 
B) added value 
C) value proposition 
D) value chain 
E) social benefit

A ________ is the ultimate user of a good or service.

The ________ is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

A firm has a competitive advantage when it is able to outperform the competition,providing customers with a desired benefit not provided by the competition.

The ratio of benefits to costs is one way to think of ________.

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

Which of the following is an example of a transaction that might occur in business-to-business marketing?

The elements of the marketing mix are the four Ps.

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

A value proposition includes the whole bundle of benefits the firm promises to deliver,not just the benefits of the product itself.

The first phase of marketing planning is the development of a market position.

Why should a firm be aware of its competitors' distinctive competencies?

When Tony rented a loft apartment where he would live for the summer,he acted as a ________.

All of the following are forms of utility created by marketing processes except ________.

Consumers who share their ideas about products with companies for fun or a challenge,rather than a paycheck,are referred to as ________.

When comparing itself to its competitors,Hidden Valley describes its Ranch dressing as the original.This is the ________ the manufacturer has selected for the product.

Providing service to the customer after a purchase is not an activity associated with the value chain.

________ is the assignment of a product's value,or the amount the consumer must exchange to receive the offering.

________ is a decision process in which marketing managers determine the strategies that will help the firm meet its long-term objectives and then execute those strategies using the tools they have at their disposal.

A firm's capability that is superior to that of its competition is referred to as a(n)________.

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

Exam 1: Welcome to the World of Marketing

A ________ is the ultimate user of a good or service.

The ________ is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

A firm has a competitive advantage when it is able to outperform the competition,providing customers with a desired benefit not provided by the competition.

The ratio of benefits to costs is one way to think of ________.

The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.

Which of the following is an example of a transaction that might occur in business-to-business marketing?

The elements of the marketing mix are the four Ps.

The direct financial impact of a firm's expenditure on marketing activities is called the ________.

A value proposition includes the whole bundle of benefits the firm promises to deliver,not just the benefits of the product itself.

The first phase of marketing planning is the development of a market position.

Why should a firm be aware of its competitors' distinctive competencies?

When Tony rented a loft apartment where he would live for the summer,he acted as a ________.

All of the following are forms of utility created by marketing processes except ________.

Consumers who share their ideas about products with companies for fun or a challenge,rather than a paycheck,are referred to as ________.

When comparing itself to its competitors,Hidden Valley describes its Ranch dressing as the original.This is the ________ the manufacturer has selected for the product.

Providing service to the customer after a purchase is not an activity associated with the value chain.

________ is the assignment of a product's value,or the amount the consumer must exchange to receive the offering.

________ is a decision process in which marketing managers determine the strategies that will help the firm meet its long-term objectives and then execute those strategies using the tools they have at their disposal.

A firm's capability that is superior to that of its competition is referred to as a(n)________.

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters