Question 1

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

Accepted Answer

A) risk. 
B) time. 
C) monetary price. 
D) effort. 
E) availability. 
A) risk. 
B) time. 
C) monetary price. 
D) effort. 
E) availability.

Question 2

Ben is responsible for managing the customer satisfaction of Hampton Inn motel guests. Ben is currently analyzing the customer relationship management (CRM) program at Hampton Inn and is contemplating where he should begin making changes. Which of the following would be the beginning of a CRM program, and therefore the area Ben should consider first?

Accepted Answer

A) communicating with current customers via Facebook. 
B) offering new types of hotel rooms for frequent guests. 
C) expanding the number and locations of Hampton Inns. 
D) providing information to customers through the web, Facebook, or in person. 
E) increasing the promotion budget with a new sweepstakes for frequent customers. 
A) communicating with current customers via Facebook. 
B) offering new types of hotel rooms for frequent guests. 
C) expanding the number and locations of Hampton Inns. 
D) providing information to customers through the web, Facebook, or in person. 
E) increasing the promotion budget with a new sweepstakes for frequent customers.

Question 3

Marketing activities

Accepted Answer

A) are aimed at persuading customers through advertising. 
B) involve mainly distribution and promotion decisions. 
C) and selling activities are basically the same. 
D) are important only when a firm is developing new products or entering new markets. 
E) help sell an organization's products and generate financial resources for the firm. 
A) are aimed at persuading customers through advertising. 
B) involve mainly distribution and promotion decisions. 
C) and selling activities are basically the same. 
D) are important only when a firm is developing new products or entering new markets. 
E) help sell an organization's products and generate financial resources for the firm.

Question 4

A target market

Accepted Answer

A) involves a large number of customers. 
B) is a specific group of customers on whom a company focuses its marketing efforts. 
C) already has several competitors vying for customers' business. 
D) is the same as a salesperson's prospective client list. 
E) is a customer group classified as people with similar demographic characteristics. 
A) involves a large number of customers. 
B) is a specific group of customers on whom a company focuses its marketing efforts. 
C) already has several competitors vying for customers' business. 
D) is the same as a salesperson's prospective client list. 
E) is a customer group classified as people with similar demographic characteristics.

Question 5

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

Accepted Answer

A) True 
 B)False

Question 6

Value = customer costs - customer benefits.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the evolution of the marketing concept through the various types of orientation.

Accepted Answer

The answer of Discuss the evolution of the marketing concept...

Question 8

Health Care Systems, Inc. rolls out an innovative nurse-on-call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept?

Accepted Answer

A) An information system to determine customer needs 
B) The organizational structure 
C) Top-management commitment 
D) Technological advancement 
E) Scanning corporate capabilities 
A) An information system to determine customer needs 
B) The organizational structure 
C) Top-management commitment 
D) Technological advancement 
E) Scanning corporate capabilities

Question 9

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

Accepted Answer

A) product 
B) price 
C) distribution 
D) promotion 
E) marketing concept 
A) product 
B) price 
C) distribution 
D) promotion 
E) marketing concept

Question 10

Scenario 1.1
Use the following to answer the questions.
Greensprings Cemetery in upstate New York, offers a full-service funeral and burial that is non-toxic to the environment. All materials used in the burial are natural and will decompose with no negative impact. Greensprings' service is relatively new in the United States, but services of this type are common in Great Britain. A typical burial in Greensprings' cemetery includes a casket made from bamboo, wicker, paper, or other natural material. There are no headstones of stone or concrete that will detract from the landscape, but trees and plants as "markers" are allowed. The cost for a burial at Greensprings is approximately $3,000, compared to about $6,000 at most traditional cemeteries. Although business was slow at first, Greensprings is now experiencing an increase in the number of burials, due to referrals and a newly-developed website. The owners of Greensprings were previously in the cemetery business, and are active conservationist and wanted to make their business more sustainable. After conducting research and finding that there were natural burial sites in Great Britain, they wanted to provide an alternative to other environmentally-conscious Americans like themselves.
-Refer to Scenario 1.1. Greensprings' competitors, the traditional cemeteries, focus on advertising and personal selling of their services. This indicates a(n) ____ orientation.

Accepted Answer

A) sales 
B) marketing 
C) production 
D) environmental 
E) marketing concept 
A) sales 
B) marketing 
C) production 
D) environmental 
E) marketing concept

Question 11

A change in the minimum drinking age in any given state illustrates a change in the ____ for Miller Brewing.

Accepted Answer

A) marketing mix 
B) marketing environment 
C) marketing concept 
D) marketing task 
E) product concept 
A) marketing mix 
B) marketing environment 
C) marketing concept 
D) marketing task 
E) product concept

Question 12

Customer benefits include time and effort.

Accepted Answer

A) True 
 B)False

Question 13

Relationship marketing is short-term, mutually beneficial arrangements in which the buyer and seller focus on the creation of satisfying exchanges.

Accepted Answer

A) True 
 B)False

Question 14

Scenario 1.1
Use the following to answer the questions.
Greensprings Cemetery in upstate New York, offers a full-service funeral and burial that is non-toxic to the environment. All materials used in the burial are natural and will decompose with no negative impact. Greensprings' service is relatively new in the United States, but services of this type are common in Great Britain. A typical burial in Greensprings' cemetery includes a casket made from bamboo, wicker, paper, or other natural material. There are no headstones of stone or concrete that will detract from the landscape, but trees and plants as "markers" are allowed. The cost for a burial at Greensprings is approximately $3,000, compared to about $6,000 at most traditional cemeteries. Although business was slow at first, Greensprings is now experiencing an increase in the number of burials, due to referrals and a newly-developed website. The owners of Greensprings were previously in the cemetery business, and are active conservationist and wanted to make their business more sustainable. After conducting research and finding that there were natural burial sites in Great Britain, they wanted to provide an alternative to other environmentally-conscious Americans like themselves.
-Refer to Scenario 1.1. Greensprings' main competitive advantage over traditional cemeteries comes from its attention to which element in the marketing mix?

Accepted Answer

A) Product 
B) Price 
C) Promotion 
D) Distribution 
E) Marketing research 
A) Product 
B) Price 
C) Promotion 
D) Distribution 
E) Marketing research

Question 15

What is meant by the term marketing concept, and what departments of a company does it affect?

Accepted Answer

The answer of What is meant by the term marketing...

Question 16

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

Accepted Answer

A) True 
 B)False

Question 17

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 an 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 frequently 
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 frequently 
C) Families with small children and several pets 
D) Suburban families with two-income households 
E) Urban professionals who travel often

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 an 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. If Paws and Claws employs the philosophy of building a relationship with its dog and cat customers, and their owners, it will be implementing the

Accepted Answer

A) marketing concept. 
B) production concept. 
C) sales concept. 
D) marketing mix. 
E) marketing environment. 
A) marketing concept. 
B) production concept. 
C) sales concept. 
D) marketing mix. 
E) marketing environment.

Question 19

Basic and extended warranties can reduce risk, a major customer cost.

Accepted Answer

A) True 
 B)False

Question 20

The marketing environment is best described as being

Accepted Answer

A) composed of controllable variables. 
B) composed of variables independent of one another. 
C) an indirect influence on the performance of marketing activities. 
D) dynamic and changing. 
E) slow, with infrequent fluctuations. 
A) composed of controllable variables. 
B) composed of variables independent of one another. 
C) an indirect influence on the performance of marketing activities. 
D) dynamic and changing. 
E) slow, with infrequent fluctuations.

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

Marketing activities

A target market

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

Value = customer costs - customer benefits.

Discuss the evolution of the marketing concept through the various types of orientation.

Health Care Systems, Inc. rolls out an innovative nurse-on-call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept?

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

A change in the minimum drinking age in any given state illustrates a change in the ____ for Miller Brewing.

Customer benefits include time and effort.

Relationship marketing is short-term, mutually beneficial arrangements in which the buyer and seller focus on the creation of satisfying exchanges.

What is meant by the term marketing concept, and what departments of a company does it affect?

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

Basic and extended warranties can reduce risk, a major customer cost.

The marketing environment is best described as being

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

Developing and Managing Products

Services Marketing

Branding and Packaging

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

Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is

Marketing activities

A target market

In marketing management, planning is a systematic process of assessing opportunities and resources, determining marketing objectives, and developing a marketing strategy and plans for implementation and control.

Value = customer costs - customer benefits.

Discuss the evolution of the marketing concept through the various types of orientation.

Health Care Systems, Inc. rolls out an innovative nurse-on-call information system available online. The product is not widely accepted because patients don't see the need for such a service. This situation represents a failure in which aspect of implementing the marketing concept?

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

A change in the minimum drinking age in any given state illustrates a change in the ____ for Miller Brewing.

Customer benefits include time and effort.

Relationship marketing is short-term, mutually beneficial arrangements in which the buyer and seller focus on the creation of satisfying exchanges.

What is meant by the term marketing concept, and what departments of a company does it affect?

The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

Basic and extended warranties can reduce risk, a major customer cost.

The marketing environment is best described as being

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

Developing and Managing Products

Services Marketing

Branding and Packaging

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