Question 1

The forces of the marketing environment include

Accepted Answer

A)  political, legal and regulatory, sociocultural, technological, economic, and competitive. 
B)  sociocultural, legal, regulatory, economic, pricing strategies, and competitive. 
C)  legal, regulatory, political, sociocultural, pricing strategies, and technological. 
D)  legal and regulatory, competitive and noncompetitive forces that affect most lifestyles. 
E)  political, legal and regulatory, pricing strategies, fairly static components. 
A)  political, legal and regulatory, sociocultural, technological, economic, and competitive. 
B)  sociocultural, legal, regulatory, economic, pricing strategies, and competitive. 
C)  legal, regulatory, political, sociocultural, pricing strategies, and technological. 
D)  legal and regulatory, competitive and noncompetitive forces that affect most lifestyles. 
E)  political, legal and regulatory, pricing strategies, fairly static components.

Question 2

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.

Accepted Answer

A) True 
 B)False

Question 3

What is meant by the term relationship marketing? How does relationship marketing affect the customer?

Accepted Answer

Relationship marketing refers to "long-t

Question 4

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

Accepted Answer

A)  Marketing orientation 
B)  Monetary price 
C)  Product assessment 
D)  Price assessment 
E)  Value 
A)  Marketing orientation 
B)  Monetary price 
C)  Product assessment 
D)  Price assessment 
E)  Value

Question 5

The product variable of the marketing mix can include all of the following except

Accepted Answer

A)  creation of brand names. 
B)  consumer perception of the product price. 
C)  development of product packaging. 
D)  warranty issues. 
E)  repair services. 
A)  creation of brand names. 
B)  consumer perception of the product price. 
C)  development of product packaging. 
D)  warranty issues. 
E)  repair services.

Question 6

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

Accepted Answer

A) True 
 B)False

Question 7

Marketing consists primarily of selling and advertising.

Accepted Answer

A) True 
 B)False

Question 8

There are four conditions that must be met before an exchange can take place. Once these conditions are met, an exchange will always take place.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not an example of the implementation of the marketing concept?

Accepted Answer

A)  Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork. 
B)  Ford asks customers to vote online for a new color for next year's Ford Focus. 
C)  Burger King reduces the labor costs to produce its sausage-egg biscuits. 
D)  Microsoft offers rewards for users who can find flaws in its new software. 
E)  Volkswagen introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision. 
A)  Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork. 
B)  Ford asks customers to vote online for a new color for next year's Ford Focus. 
C)  Burger King reduces the labor costs to produce its sausage-egg biscuits. 
D)  Microsoft offers rewards for users who can find flaws in its new software. 
E)  Volkswagen introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision.

Question 10

Price is seldom used as a competitive tool.

Accepted Answer

A) True 
 B)False

Question 11

Marketing activities help to produce __________ without which a business cannot survive. The success of businesses tends to lead to job creation, a higher standard of living, and even money to go toward social causes. Therefore, marketing contributes to the ___________ of society.

Accepted Answer

A)  customer satisfaction; technology 
B)  stakeholders; happiness 
C)  periods of prosperity; creation 
D)  profits; well-being 
E)  consumer well-being; economics 
A)  customer satisfaction; technology 
B)  stakeholders; happiness 
C)  periods of prosperity; creation 
D)  profits; well-being 
E)  consumer well-being; economics

Question 12

Which of the following companies is the best example of a service marketer?

Accepted Answer

A)  FedEx 
B)  Sony 
C)  Abercrombie & Fitch 
D)  The Democratic Party 
E)  General Electric 
A)  FedEx 
B)  Sony 
C)  Abercrombie & Fitch 
D)  The Democratic Party 
E)  General Electric

Question 13

Which of the following scenarios involves the distribution element of the marketing mix?

Accepted Answer

A)  Deciding whether or not a certain product should continue to be sold 
B)  Determining whether an advertising message would be more effective on television or in magazines 
C)  Choosing between a company jet or the airlines for executive travel 
D)  Deciding whether or not to have retail outlets in addition to a website 
E)  Developing a new warranty policy for an existing product 
A)  Deciding whether or not a certain product should continue to be sold 
B)  Determining whether an advertising message would be more effective on television or in magazines 
C)  Choosing between a company jet or the airlines for executive travel 
D)  Deciding whether or not to have retail outlets in addition to a website 
E)  Developing a new warranty policy for an existing product

Question 14

Scenario 1.2
Use the following to answer the questions.
Paws and Claws Hotel is a full service pet salon and boarding kennel. Paws and Claws has an interactive website where customers can directly book a grooming appointment, obedience class, or overnight accommodations for their dog or cat. Paws and Claws has several unexpected services, such as a 600-square-foot swimming pool, complete with slide and dog-friendly graduated steps to help them exit the pool. Customers can also drop their dog or cat off each morning for pet day care. Paws and Claws has a pick-up and delivery service, webcams in every kennel so that pet families can view their pets while away, and pet "furniture" so that the cats and dogs can lie on sofas just like at home. Paws and Claws is also open 24 hours a day, 365 days each year so that customers can pick up their pet at any time.
The cost for an overnight stay at Paws and Claws averages $50, compared to competing kennels at about $30. The day care costs are $25 for either a dog or cat. The majority of Paws and Claws' competitors don't offer the day care service, and require a two-day minimum for overnight stays.
Informal discussions with customers led to the addition of pet day care and 24-hour hours of operation. Previously, Paws and Claws was more interested in competing based on its prices.
Refer to Scenario 1.2. Paws and Claws' addition of unexpected services, pick-up and delivery, and 24-hour access while charging a higher price than its competition is best described as which type of value?

Accepted Answer

A)  Value = monetary price - customer benefits. 
B)  Value = customer costs - customer benefits 
C)  Value = customer benefits - customer costs. 
D)  Value = customer benefits - monetary price. 
E)  Value = customer benefits - time and effort. 
A)  Value = monetary price - customer benefits. 
B)  Value = customer costs - customer benefits 
C)  Value = customer benefits - customer costs. 
D)  Value = customer benefits - monetary price. 
E)  Value = customer benefits - time and effort.

Question 15

The marketing concept is a management philosophy, not a second definition of marketing.

Accepted Answer

A) True 
 B)False

Question 16

The marketing mix consists of three major variables: product, price, and distribution.

Accepted Answer

A) True 
 B)False

Question 17

Marketing activities are

Accepted Answer

A)  used by all sizes of organizations including for-profit, nonprofit, and government agencies. 
B)  limited to use by larger for-profit and nonprofit organizations. 
C)  implemented only to increase profits for the organization and to expand the scope of its customer base. 
D)  used by all types and sizes of businesses but are not used by nonprofit organizations. 
E)  used by small businesses and small nonprofit organizations the most. 
A)  used by all sizes of organizations including for-profit, nonprofit, and government agencies. 
B)  limited to use by larger for-profit and nonprofit organizations. 
C)  implemented only to increase profits for the organization and to expand the scope of its customer base. 
D)  used by all types and sizes of businesses but are not used by nonprofit organizations. 
E)  used by small businesses and small nonprofit organizations the most.

Question 18

Scenario 1.2 Use the following to answer the questions.
Paws and Claws Hotel is a full service pet salon and boarding kennel. Paws and Claws has an interactive website where customers can directly book a grooming appointment, obedience class, or overnight accommodations for their dog or cat. Paws and Claws has several unexpected services, such as a 600-square-foot swimming pool, complete with slide and dog-friendly graduated steps to help them exit the pool. Customers can also drop their dog or cat off each morning for pet day care. Paws and Claws has a pick-up and delivery service, webcams in every kennel so that pet families can view their pets while away, and pet "furniture" so that the cats and dogs can lie on sofas just like at home. Paws and Claws is also open 24 hours a day, 365 days each year so that customers can pick up their pet at any time.
The cost for an overnight stay at Paws and Claws averages $50, compared to competing kennels at about $30. The day care costs are $25 for either a dog or cat. The majority of Paws and Claws' competitors don't offer the day care service, and require a two-day minimum for overnight stays.
Informal discussions with customers led to the addition of pet day care and 24-hour hours of operation. Previously, Paws and Claws was more interested in competing based on its prices.
Refer to Scenario 1.2. Paws and Claws' target market is most likely to be which of the following?

Accepted Answer

A)  The dogs and cats who stay there 
B)  Pet owners who go on vacation a few times a year 
C)  Families with small children and several pets 
D)  Suburban families with two-income households 
E)  Urban professionals who travel often 
A)  The dogs and cats who stay there 
B)  Pet owners who go on vacation a few times a year 
C)  Families with small children and several pets 
D)  Suburban families with two-income households 
E)  Urban professionals who travel often

Question 19

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

Accepted Answer

A)  Profits for the seller 
B)  A good bargain on the product for the buyer 
C)  Reducing the seller's inventory 
D)  One party having to compromise in the exchange 
E)  Satisfaction for both the buyer and seller 
A)  Profits for the seller 
B)  A good bargain on the product for the buyer 
C)  Reducing the seller's inventory 
D)  One party having to compromise in the exchange 
E)  Satisfaction for both the buyer and seller

Question 20

To implement the marketing concept, an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

Accepted Answer

A) True 
 B)False

The forces of the marketing environment include

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.

What is meant by the term relationship marketing? How does relationship marketing affect the customer?

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

The product variable of the marketing mix can include all of the following except

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

Marketing consists primarily of selling and advertising.

There are four conditions that must be met before an exchange can take place. Once these conditions are met, an exchange will always take place.

Which of the following is not an example of the implementation of the marketing concept?

Price is seldom used as a competitive tool.

Marketing activities help to produce without which a business cannot survive. The success of businesses tends to lead to job creation, a higher standard of living, and even money to go toward social causes. Therefore, marketing contributes to the _ of society.

Which of the following companies is the best example of a service marketer?

Which of the following scenarios involves the distribution element of the marketing mix?

The marketing concept is a management philosophy, not a second definition of marketing.

The marketing mix consists of three major variables: product, price, and distribution.

Marketing activities are

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

To implement the marketing concept, an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets, Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding, and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 1: An Overview of Strategic Marketing

The forces of the marketing environment include

The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.

What is meant by the term relationship marketing? How does relationship marketing affect the customer?

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

The product variable of the marketing mix can include all of the following except

A target market is a specific group of customers on whom an organization focuses its marketing efforts.

Marketing consists primarily of selling and advertising.

There are four conditions that must be met before an exchange can take place. Once these conditions are met, an exchange will always take place.

Which of the following is not an example of the implementation of the marketing concept?

Price is seldom used as a competitive tool.

Marketing activities help to produce __________ without which a business cannot survive. The success of businesses tends to lead to job creation, a higher standard of living, and even money to go toward social causes. Therefore, marketing contributes to the ___________ of society.

Which of the following companies is the best example of a service marketer?

Which of the following scenarios involves the distribution element of the marketing mix?

The marketing concept is a management philosophy, not a second definition of marketing.

The marketing mix consists of three major variables: product, price, and distribution.

Marketing activities are

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?

To implement the marketing concept, an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets, Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding, and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Marketing activities help to produce without which a business cannot survive. The success of businesses tends to lead to job creation, a higher standard of living, and even money to go toward social causes. Therefore, marketing contributes to the _ of society.