Question 1

The term market is best defined as:

Accepted Answer

A) people with a need and a want for a product. 
B) organizations with the need and desire for a product. 
C) organizations with products that satisfy people's needs and wants. 
D) potential consumers with both the willingness and ability to buy. 
A) people with a need and a want for a product. 
B) organizations with the need and desire for a product. 
C) organizations with products that satisfy people's needs and wants. 
D) potential consumers with both the willingness and ability to buy.

Question 2

Which of the following is an example of a service?

Accepted Answer

A) a new minivan 
B) a donation to a church 
C) wearing a ribbon for breast cancer awareness 
D) professional landscaping of a front yard 
A) a new minivan 
B) a donation to a church 
C) wearing a ribbon for breast cancer awareness 
D) professional landscaping of a front yard

Question 3

What is exchange? Give an example of consumer exchange without money.

Accepted Answer

Students' examples may vary.
Exchange is

Question 4

Stagistics and v3 Technologies, two top vendors of supply chain management software, have recently launched their own online trading exchange aimed at increasing the ease with which their customers can distribute products and ideas.Both of these organizations provide exceptional, ongoing service to their business customers.These two organizations hope to benefit from _____.

Accepted Answer

A) customer relationship management 
B) societal marketing concept 
C) customer orientation 
D) product valuation 
A) customer relationship management 
B) societal marketing concept 
C) customer orientation 
D) product valuation

Question 5

The Whirlpool Corporation creates home appliances to make life easier and more enjoyable for people.This statement concerns the _____ element of the marketing mix.

Accepted Answer

A) product 
B) process 
C) price 
D) place 
A) product 
B) process 
C) price 
D) place

Question 6

Exchange is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

Accepted Answer

A) True 
 B)False

Question 7

The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is _____.

Accepted Answer

A) product 
B) price 
C) place 
D) promo 
A) product 
B) price 
C) place 
D) promo

Question 8

Myworld Ltd.is one of the organizations that voluntarily considers the well-being of society by taking responsibility for how their businesses impact society in general.By doing so, Myworld is engaging in _____.

Accepted Answer

A) corporate social responsibility 
B) customer relationship management 
C) the essence of marketing 
D) a marketing mix 
A) corporate social responsibility 
B) customer relationship management 
C) the essence of marketing 
D) a marketing mix

Question 9

A business traveller joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.Once he accumulates enough points, he can trade them in for a free night's stay.As a member of this program, the traveller receives periodic updates on new hotels and learns of ways to earn additional points.This is an example of _____.

Accepted Answer

A) customer relationship management 
B) societal marketing 
C) partnership marketing 
D) customer valuation 
A) customer relationship management 
B) societal marketing 
C) partnership marketing 
D) customer valuation

Question 10

Popular events like the Superbowl, Academy Awards and Olympics lend themselves to real-time marketing approaches.

Accepted Answer

A) True 
 B)False

Question 11

_____ is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

Accepted Answer

A) Creative planning 
B) Advertising 
C) Selling 
D) Marketing 
A) Creative planning 
B) Advertising 
C) Selling 
D) Marketing

Question 12

Product design, pricing strategies, and service elements create _____.

Accepted Answer

A) customer value 
B) sales orientation 
C) a marketing concept 
D) relationship marketing 
A) customer value 
B) sales orientation 
C) a marketing concept 
D) relationship marketing

Question 13

After an assessment of needs, a marketing manager must:

Accepted Answer

A) develop a marketing strategy. 
B) manage the marketing mix. 
C) create a macromarketing program. 
D) design a micromarketing program. 
A) develop a marketing strategy. 
B) manage the marketing mix. 
C) create a macromarketing program. 
D) design a micromarketing program.

Question 14

Happy Traveller Ltd.has designed a program that allots its customers reward points each time its members hire the company to book their holidays.It has also introduced discounted Christmas and New Year holiday vacation packages only for its members and long time customers.Happy Traveller Ltd.has also expressed its support for a cancer foundation, donating a substantial sum of money to the foundation.The cancer foundation has announced Happy Traveller Ltd.as one of its patrons.Happy Traveller's reward points program for its members is an example of _____.

Accepted Answer

A) customer relationship management 
B) sales orientation 
C) corporate social responsibility 
D) promotional partnership 
A) customer relationship management 
B) sales orientation 
C) corporate social responsibility 
D) promotional partnership

Question 15

Roxta Confectioners has launched two new products-Big Bear Candy for children and Dark Coffee Sticks for adults.Roxta has set up a different approach for each product.Big Bear Candy will be sold at $0.99 at all retail stores, close to the cash counters.Dark Coffee Sticks will be sold at $4.99, and instead of being merchandised at cash counters, it will be on the shelves of many grocery stores.Roxta has decided to advertise Big Bear Candy to children through television ads.It has also conducted events and games to "Meet Big Bear." For Dark Coffee Sticks, Roxta has tried to connect with adults through newspaper ads and social media.Roxta has been successful in realizing profits through its two products.Which of the following elements of the marketing mix explains Roxta's activity to sell Big Bear Candy at the cash counters and Dark Coffee Sticks on the shelves?

Accepted Answer

A) place 
B) promotion 
C) price 
D) packaging 
A) place 
B) promotion 
C) price 
D) packaging

Question 16

Roxta Confectioners has launched two new products-Big Bear Candy for children and Dark Coffee Sticks for adults.Roxta has set up a different approach for each product.Big Bear Candy will be sold at $0.99 at all retail stores, close to the cash counters.Dark Coffee Sticks will be sold at $4.99, and instead of being merchandised at cash counters, it will be on the shelves of many grocery stores.Roxta has decided to advertise Big Bear Candy to children through television ads.It has also conducted events and games to "Meet Big Bear." For Dark Coffee Sticks, Roxta has tried to connect with adults through newspaper ads and social media.Roxta has been successful in realizing profits through its two products.Roxta has developed two products for two specific groups of potential customers.What are these groups called?

Accepted Answer

A) consumers 
B) target market 
C) strategic market 
D) loyalty program members 
A) consumers 
B) target market 
C) strategic market 
D) loyalty program members

Question 17

In most organizations, the Marketing function provides the connection to customers.

Accepted Answer

A) True 
 B)False

Question 18

With any promotional campaign, measuring impact and effectiveness are critical to success.Digital marketing offers marketers detailed measures of impact through:

Accepted Answer

A) Sales reports 
B) Metrics and analytics 
C) Partnership marketing 
D) Marketing audits 
A) Sales reports 
B) Metrics and analytics 
C) Partnership marketing 
D) Marketing audits

Question 19

Experiential marketing seeks to build opportunities for consumers to interact with a brand.

Accepted Answer

A) True 
 B)False

Question 20

Many large firms measure the effectiveness of purchase incentives through a measure called share of wallet.

Accepted Answer

A) True 
 B)False

The term market is best defined as:

Which of the following is an example of a service?

What is exchange? Give an example of consumer exchange without money.

The Whirlpool Corporation creates home appliances to make life easier and more enjoyable for people.This statement concerns the _____ element of the marketing mix.

Exchange is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is _____.

Myworld Ltd.is one of the organizations that voluntarily considers the well-being of society by taking responsibility for how their businesses impact society in general.By doing so, Myworld is engaging in _____.

Popular events like the Superbowl, Academy Awards and Olympics lend themselves to real-time marketing approaches.

_____ is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

Product design, pricing strategies, and service elements create _____.

After an assessment of needs, a marketing manager must:

In most organizations, the Marketing function provides the connection to customers.

With any promotional campaign, measuring impact and effectiveness are critical to success.Digital marketing offers marketers detailed measures of impact through:

Experiential marketing seeks to build opportunities for consumers to interact with a brand.

Many large firms measure the effectiveness of purchase incentives through a measure called share of wallet.

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 1: Marketing Fundamentals

The term market is best defined as:

Which of the following is an example of a service?

What is exchange? Give an example of consumer exchange without money.

The Whirlpool Corporation creates home appliances to make life easier and more enjoyable for people.This statement concerns the _____ element of the marketing mix.

Exchange is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

The element of the marketing mix demonstrated when a newspaper carrier throws a paper on the front porch is _____.

Myworld Ltd.is one of the organizations that voluntarily considers the well-being of society by taking responsibility for how their businesses impact society in general.By doing so, Myworld is engaging in _____.

Popular events like the Superbowl, Academy Awards and Olympics lend themselves to real-time marketing approaches.

_____ is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives.

Product design, pricing strategies, and service elements create _____.

After an assessment of needs, a marketing manager must:

In most organizations, the Marketing function provides the connection to customers.

With any promotional campaign, measuring impact and effectiveness are critical to success.Digital marketing offers marketers detailed measures of impact through:

Experiential marketing seeks to build opportunities for consumers to interact with a brand.

Many large firms measure the effectiveness of purchase incentives through a measure called share of wallet.

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters