Exam 1: The Field of Marketing

The magazine ad invites everyone to vacation in Texas because "it's like a whole other country." In this context, Texas is treated as if it were a(n):

From a customer's perspective, the terms needs and wants are interchangeable.

Pennington Seed Company has long-term contracts with several NFL stadiums. Pennington provides the grass seed and the personnel needed to create the field so the grass turf will provide adequate traction and cushioning as well as continue to look good throughout the season. More importantly, Pennington will work with NFL officials to create the grass turf that is most appropriate for different climates at the various football stadiums. Pennington uses:

Russell Corp. is the largest manufacturer of team wear in the United States. It provides uniforms for high schools, colleges, and professional teams as well as individual apparel, active, and sports leisurewear. The billion-dollar company, which was founded in 1902, controls every step of its manufacturing processes from weaving raw fibers into fabric to dyeing, cutting, and sewing the fabric into the clothes it sells. The Russell plant in Alabama annually provides 7,000 Major League Baseball uniforms at the start of spring season. Each uniform is made to the exact personal specifications of the players. For example, San Francisco player Barry Bonds requires long pants that cover his shoes, and New York pitcher Steve Karsay wants his shirts to be billowing. -The control Russell Corp. maintains over all facets of its manufacturing processes indicates a strong concern with which element of its marketing mix?

_____ is one financial measure used to ensure the greater accountability of marketing.

Which of the following is NOT a necessary condition for a marketing exchange to take place?

A key feature of the _____ is an understanding that customers direct the organization.

_____ utility is more likely to be associated with purebred dogs than with mongrels.

According to the marketing concept, all marketing activities in an organization should be coordinated.

Allowing customers to define product quality is a practice most closely associated with:

Which of the following products is most likely to offer the customer image utility?

Which of the following is NOT a good example of a service marketer?

The _____ stage is characterized by a heavy reliance on promotional activities to sell the products the firm wants to make.

A quote from the head of an organization that monitors business ethics says, "At the end of the day, today's consumers want brands they believe are authentic brands they can take pride in." This statement is about the creation of ______ utility.

The brand name Olivetti was one of the most important names in Italian industry for years. The company began in 1905 and early became the leader in quality manufacturing of typewriters. During the 1970s, the brand name was abandoned even though many still saw recognized the name as a source of quality. In 2005, the brand name was reintroduced on a line of inkjet printers. The decision to reuse the brand name illustrates the use of which element of the marketing mix?

Which of the following activities creates place utility?

_____ utility is created when a product is made readily accessible to potential customers.

Which of the following statements about value is true?

_____ is the customer's perception of all the benefits of a product weighed against all the costs of acquiring and consuming the product.

When the marketing concept's breadth is extended, a company recognizes that: