Question 1

Many hotel chains offer free stays and other perks to repeat customers. This is an example of:

Accepted Answer

A)  relationship marketing. 
B)  transaction-based marketing. 
C)  interactive marketing. 
D)  social marketing. 
A)  relationship marketing. 
B)  transaction-based marketing. 
C)  interactive marketing. 
D)  social marketing.

Question 2

List the eight universal functions of marketing.

Accepted Answer

Marketing is responsible for the perform

Question 3

A buyer's market is characterized by:

Accepted Answer

A)  more goods and services than buyers to buy them. 
B)  a small number of firms dominating the production of goods offered. 
C)  practically no competition in the marketplace. 
D)  a single firm producing a major share of the products or services offered. 
A)  more goods and services than buyers to buy them. 
B)  a small number of firms dominating the production of goods offered. 
C)  practically no competition in the marketplace. 
D)  a single firm producing a major share of the products or services offered.

Question 4

Mary Kay Cosmetic's long-time policy of rewarding top sales representatives with a "Mary Kay pink" Cadillac is an example of integrated marketing communications.

Accepted Answer

A) True 
 B)False

Question 5

Dove Skincare maintains a Facebook page where customers can ask product questions, share testimonials, and discover special promotions. Dove is an example of an organization operating in the ______ era.

Accepted Answer

A)  production 
B)  social 
C)  marketing 
D)  relationship 
A)  production 
B)  social 
C)  marketing 
D)  relationship

Question 6

Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.

Accepted Answer

A) True 
 B)False

Question 7

Billboards for the city's national football league team are positioned within 5 miles of the stadium. This is an example of _____.

Accepted Answer

A)  form utility creation 
B)  place marketing 
C)  organization utility 
D)  sports marketing 
A)  form utility creation 
B)  place marketing 
C)  organization utility 
D)  sports marketing

Question 8

Compared to transaction marketing, relationship marketing relies more heavily on information technologies.

Accepted Answer

A) True 
 B)False

Question 9

You and your partners are investing millions in creating a small chain of five-star boutique hotels in six of the finest cities in the world. Which of the following tactics fits best with your premium pricing strategy?

Accepted Answer

A)  Set room prices comparable to other high-end, boutique hotel chains 
B)  Bundle spa services in with the room rates 
C)  Advertise in magazines catering to wealthy, travel-minded consumers 
D)  Design branding that reflects the elegant, luxurious sensibility of the chain 
A)  Set room prices comparable to other high-end, boutique hotel chains 
B)  Bundle spa services in with the room rates 
C)  Advertise in magazines catering to wealthy, travel-minded consumers 
D)  Design branding that reflects the elegant, luxurious sensibility of the chain

Question 10

Fred Foods Inc. provides free cereals and biscuits to support a program that aims to end hunger in various emerging nations. This is an example of _____ marketing.

Accepted Answer

A)  organization 
B)  person 
C)  cause 
D)  place 
A)  organization 
B)  person 
C)  cause 
D)  place

Question 11

A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant, and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history?

Accepted Answer

A)  Production era 
B)  Relationship era 
C)  Marketing era 
D)  Sales era 
A)  Production era 
B)  Relationship era 
C)  Marketing era 
D)  Sales era

Question 12

Define lifetime value of a customer. How has Apple, with the development of the iPod product line and iTunes software, gained a competitive advantage over competitors? Will Apple experience a higher or lower lifetime value of a customer and why?

Accepted Answer

The lifetime value of a customer is the

Question 13

Knowing that gift certificates are a big contributor to winter revenues, Nonny's Nail Salon is offering a holiday special of $15 off the purchase of every mani/pedi gift certificate. It's a key component of the business's _______ every year.

Accepted Answer

A)  product strategy 
B)  pricing strategy 
C)  distribution strategy 
D)  promotion strategy 
A)  product strategy 
B)  pricing strategy 
C)  distribution strategy 
D)  promotion strategy

Question 14

The variables in the marketing mix include:

Accepted Answer

A)  product, price, distribution, and promotion. 
B)  product, price, and promotion. 
C)  promotion, distribution, and price. 
D)  price, promotion, place, and people. 
A)  product, price, distribution, and promotion. 
B)  product, price, and promotion. 
C)  promotion, distribution, and price. 
D)  price, promotion, place, and people.

Question 15

Assume you want to increase the number of customers by applying the marketing concept. Which of the following strategies would be most consistent with this approach?

Accepted Answer

A)  Reduce product costs 
B)  Offer more product variety than competitors 
C)  Target markets 
D)  Employ inexpensive labor 
A)  Reduce product costs 
B)  Offer more product variety than competitors 
C)  Target markets 
D)  Employ inexpensive labor

Question 16

According to the text, once a company's customers have become "loyal supporters," the company should seek to further the relationship with those customers so that they become _______.

Accepted Answer

A)  advocates 
B)  referral generators 
C)  clients 
D)  repeat purchasers 
A)  advocates 
B)  referral generators 
C)  clients 
D)  repeat purchasers

Question 17

The _____ is a companywide consumer orientation with the objective of achieving long-run success.

Accepted Answer

A)  marketing myopia 
B)  exchange process 
C)  marketing concept 
D)  seller's market 
A)  marketing myopia 
B)  exchange process 
C)  marketing concept 
D)  seller's market

Question 18

To increase revenues, Gorilla Glue is planning to launch a new distribution strategy by:

Accepted Answer

A)  positioning Gorilla Glue as a premium product priced 5% higher than similar products. 
B)  starting to produce packing tape made with Gorilla Glue adhesive. 
C)  creating a special package, available for a limited time, that bundles a glue stick with a 6-oz bottle of Gorilla Glue. 
D)  targeting crafters through availability at Michael's and Hobby Lobby stores. 
A)  positioning Gorilla Glue as a premium product priced 5% higher than similar products. 
B)  starting to produce packing tape made with Gorilla Glue adhesive. 
C)  creating a special package, available for a limited time, that bundles a glue stick with a 6-oz bottle of Gorilla Glue. 
D)  targeting crafters through availability at Michael's and Hobby Lobby stores.

Question 19

Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the quality of products.

Accepted Answer

A) True 
 B)False

Question 20

The relationship era builds on the marketing era's customer orientation by only focusing on maintaining relationships with customers.

Accepted Answer

A) True 
 B)False

Exam 1: Marketing: the Art of Satisfying Customers

Many hotel chains offer free stays and other perks to repeat customers. This is an example of:

List the eight universal functions of marketing.

A buyer's market is characterized by:

Mary Kay Cosmetic's long-time policy of rewarding top sales representatives with a "Mary Kay pink" Cadillac is an example of integrated marketing communications.

Dove Skincare maintains a Facebook page where customers can ask product questions, share testimonials, and discover special promotions. Dove is an example of an organization operating in the ______ era.

Manufacturers engage in risk taking when they create goods and services based on research and their belief that consumers need them.

Billboards for the city's national football league team are positioned within 5 miles of the stadium. This is an example of _____.

Compared to transaction marketing, relationship marketing relies more heavily on information technologies.

You and your partners are investing millions in creating a small chain of five-star boutique hotels in six of the finest cities in the world. Which of the following tactics fits best with your premium pricing strategy?

Fred Foods Inc. provides free cereals and biscuits to support a program that aims to end hunger in various emerging nations. This is an example of _____ marketing.

A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant, and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history?

Define lifetime value of a customer. How has Apple, with the development of the iPod product line and iTunes software, gained a competitive advantage over competitors? Will Apple experience a higher or lower lifetime value of a customer and why?

Knowing that gift certificates are a big contributor to winter revenues, Nonny's Nail Salon is offering a holiday special of $15 off the purchase of every mani/pedi gift certificate. It's a key component of the business's _______ every year.

The variables in the marketing mix include:

Assume you want to increase the number of customers by applying the marketing concept. Which of the following strategies would be most consistent with this approach?

According to the text, once a company's customers have become "loyal supporters," the company should seek to further the relationship with those customers so that they become _______.

The _____ is a companywide consumer orientation with the objective of achieving long-run success.

To increase revenues, Gorilla Glue is planning to launch a new distribution strategy by:

Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the quality of products.

The relationship era builds on the marketing era's customer orientation by only focusing on maintaining relationships with customers.

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

E-Business: Managing the Customer Experience

Social Media: Living in the Connected World

Consumer Behavior

Business Markets and Buying Behavior

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research

Product and Branding Concepts

Developing and Managing Products

Pricing Concepts

Pricing Strategies

Distribution Channels and Supply Chain Management

Retailing and Direct Marketing

Integrated Marketing Communications

Personal Selling and Sales Promotion

Creating A Marketing Plan

Financial Analysis In Marketing

Your Career In Marketing

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