Question 1

A physical product you can touch is a(n)

Accepted Answer

A) service. 
B) good. 
C) idea. 
D) concept. 
E) philosophy. 
A) service. 
B) good. 
C) idea. 
D) concept. 
E) philosophy.

Question 2

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.

Accepted Answer

A) True 
 B)False

Question 3

Organizations should define themselves not according to the products they produce but according to

Accepted Answer

A) how profitable they are. 
B) the price of their stock. 
C) the abundance of their product selection. 
D) how they treat employees. 
E) how they satisfy customers. 
A) how profitable they are. 
B) the price of their stock. 
C) the abundance of their product selection. 
D) how they treat employees. 
E) how they satisfy customers.

Question 4

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. Previously, Paws and Claws was most likely using a ____ orientation, while now it is now in the process of employing the _______.

Accepted Answer

A) Sales; Marketing concept. 
B) Sales; Marketing mix. 
C) Promotion; Marketing concept. 
D) Sales; Promotion orientation. 
E) Sales; Product orientation. 
A) Sales; Marketing concept. 
B) Sales; Marketing mix. 
C) Promotion; Marketing concept. 
D) Sales; Promotion orientation. 
E) Sales; Product orientation.

Question 5

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Accepted Answer

The marketing environment forces affect

Question 6

When DataComp Corp., a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____ variable caused changes in the ____ variable of the marketing mix.

Accepted Answer

A) distribution; promotion 
B) distribution; product 
C) product; price 
D) product; promotion 
E) promotion; price 
A) distribution; promotion 
B) distribution; product 
C) product; price 
D) product; promotion 
E) promotion; price

Question 7

Approximately 20 percent of civilian employees in the United States perform marketing activities.

Accepted Answer

A) True 
 B)False

Question 8

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 9

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as

Accepted Answer

A) marketing synthesis. 
B) relationship marketing. 
C) a marketing orientation. 
D) the marketing concept. 
E) strategic marketing. 
A) marketing synthesis. 
B) relationship marketing. 
C) a marketing orientation. 
D) the marketing concept. 
E) strategic marketing.

Question 10

​Your company provides oil exploration services to major oil companies in Russia. The United States government just announced it is imposing economic sanctions on Russia because of the military actions it has taken in Ukraine.This situation is an example of which of the following types of forces that constantly impact a company's dynamic marketing environment?

Accepted Answer

A) Technological force 
B) Sociocultural force 
C) Political force 
D) Legal and regulatory force 
E) Economic force 
A) Technological force 
B) Sociocultural force 
C) Political force 
D) Legal and regulatory force 
E) Economic force

Question 11

The marketing concept is

Accepted Answer

A) a management philosophy. 
B) synonymous with exchange. 
C) a component of the marketing mix. 
D) a function of the marketing environment. 
E) focused solely on satisfying customer objectives. 
A) a management philosophy. 
B) synonymous with exchange. 
C) a component of the marketing mix. 
D) a function of the marketing environment. 
E) focused solely on satisfying customer objectives.

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Which one of the following statements by a company president best reflects the marketing concept?

Accepted Answer

A) We have organized our business to make certain that customers get what they want. 
B) We believe that the marketing department must organize to sell what we produce. 
C) We have organized an aggressive sales force in our company to promote our products. 
D) We try to produce only high-quality, technically efficient products. 
E) We try to encourage company growth. 
A) We have organized our business to make certain that customers get what they want. 
B) We believe that the marketing department must organize to sell what we produce. 
C) We have organized an aggressive sales force in our company to promote our products. 
D) We try to produce only high-quality, technically efficient products. 
E) We try to encourage company growth.

Question 14

U.S. Electric, the maker of a highly innovative xenon light bulb used in large, manufacturing facilities, finds that it has excess inventory. The firm increases its direct marketing budget by 20 percent and adds three new sales representatives. This company is operating as if it were in which of the following orientations?

Accepted Answer

A) Production 
B) Sales 
C) Market 
D) Customer 
E) Societal 
A) Production 
B) Sales 
C) Market 
D) Customer 
E) Societal

Question 15

The actual physical production of goods is a marketing activity.

Accepted Answer

A) True 
 B)False

Question 16

Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product. List four marketing mix variables and describe the decisions and activities associated with each.

Accepted Answer

Marketers consider activities such as pr

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. 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 18

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy.

Accepted Answer

A) operating situation 
B) marketing environment 
C) surroundings 
D) economic conditions 
E) trends 
A) operating situation 
B) marketing environment 
C) surroundings 
D) economic conditions 
E) trends

Question 19

Describe the three different types of products.

Accepted Answer

A product can be a good, a service, or a

Question 20

The marketing concept is best defined as

Accepted Answer

A) a second definition of marketing. 
B) a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals. 
C) the performance of business activities that direct the flow of goods and services from producer to customer or user. 
D) a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers. 
E) the inclusion of marketing activities in the activities of an organization. 
A) a second definition of marketing. 
B) a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals. 
C) the performance of business activities that direct the flow of goods and services from producer to customer or user. 
D) a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers. 
E) the inclusion of marketing activities in the activities of an organization.

A physical product you can touch is a(n)

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.

Organizations should define themselves not according to the products they produce but according to

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

When DataComp Corp., a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the variable caused changes in the variable of the marketing mix.

Approximately 20 percent of civilian employees in the United States perform marketing activities.

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

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as

The marketing concept is

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

Which one of the following statements by a company president best reflects the marketing concept?

The actual physical production of goods is a marketing activity.

Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product. List four marketing mix variables and describe the decisions and activities associated with each.

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy.

Describe the three different types of products.

The marketing concept is best defined as

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

A physical product you can touch is a(n)

For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.

Organizations should define themselves not according to the products they produce but according to

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Approximately 20 percent of civilian employees in the United States perform marketing activities.

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

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as

The marketing concept is

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

Which one of the following statements by a company president best reflects the marketing concept?

The actual physical production of goods is a marketing activity.

Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product. List four marketing mix variables and describe the decisions and activities associated with each.

A marketing manager for a small computer manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy.

Describe the three different types of products.

The marketing concept is best defined as

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