Question 1

Where did Hamdi Ulukaya, the creator of Chobani, Inc., want to place Chobani yogurt?

Accepted Answer

A) in organic foods section of major grocery store chains 
B) in warehouse club stores like Sam's Club or Costco 
C) in the dairy case of major grocery store chains 
D) in mass merchandise stores like Target 
E) in independent organic cooperatives, farmer's markets, and major organic grocery stores like Whole Foods or Sprouts

Question 2

The element of the marketing mix that describes a means of getting the product to the consumer is known as

Accepted Answer

A) a product. 
B) the price. 
C) promotion. 
D) the place. 
E) the process.

Question 3

It is said that goods, services, and ideas are marketed. Define goods, services, and ideas and give at least one example of each.

Accepted Answer

The answer of It is said that goods, services, and...

Question 4

Why are you, as a student, already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Accepted Answer

The answer of Why are you, as a student, already...

Question 5

The four Ps are commonly known as

Accepted Answer

A) the environmental or uncontrollable forces. 
B) the environmental or controllable factors. 
C) the marketing mix or controllable factors. 
D) the marketing mix or uncontrollable forces. 
E) environmental factors, both controllable and uncontrollable.

Question 6

Marketing refers to

Accepted Answer

A) the production of products or services that will generate the highest return on investment. 
B) the strategies used in the advertising and promotion of products and services to customers around the globe. 
C) the process of identifying target market segments for a product or service. 
D) the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers. 
E) the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 7

Product, price, promotion, and place are all components of

Accepted Answer

A) the firm's required ongoing activities. 
B) the marketing mix. 
C) factors used to examine competitors' products. 
D) the cluster of benefits that an organization develops to satisfy consumers' needs. 
E) people with both the desire and the ability to buy a specific offering.

Question 8

Customer relationship management refers to

Accepted Answer

A) the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being. 
B) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace. 
C) the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals. 
D) the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. 
E) the cluster of benefits that an organization promises customers to satisfy their needs.

Question 9

The founders of StuffDOT, a social e-commerce site that seeks to reward consumers for their online shopping and sharing activity, believe that consumers deserve to share in payments from e-retailers that are generated by referring shoppers to their products. This requires consumers to understand the benefits well enough so that they

Accepted Answer

A) carefully evaluate their needs rather than their wants. 
B) have a chance to spot product problems. 
C) change their shopping habits to take advantage of the opportunity. 
D) are prepared to share credit card and other details with StuffDOT. 
E) evaluate several different products at the same time.

Question 10

During October, kiosk or "pop-up" stores appear in many malls for the holiday season. Typically, these kiosks sell gift boxes of cheese, jewelry, and other items people think are appropriate seasonal gifts. In January, these retailers vanish. Is it possible for such a retailer to use relationship marketing? Explain your answer.

Accepted Answer

The answer of During October, kiosk or "pop-up" stores appear...

Question 11

Customer value refers to

Accepted Answer

A) the need of a customer to receive the highest quality product at the lowest possible price. 
B) the least expensive product that will provide it with most of the basic benefits. 
C) a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers. 
D) the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. 
E) the cluster of benefits that an organization promises customers to satisfy their needs.

Question 12

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

Accepted Answer

A) a healthy competitive environment 
B) an affordable and actionable advertising campaign 
C) a sense of social responsibility 
D) an ability to see hidden potential within an environmental force 
E) two or more parties (individuals or organizations) with unsatisfied needs

Question 13

Dick's Sporting Goods carries baseballs year-round. The same is true for footballs and tennis equipment. With this strategy, Dick's Sporting Goods offers __________ utility for these products.

Accepted Answer

A) time 
B) place 
C) possession 
D) market 
E) form

Question 14

The element of the marketing mix that describes what is exchanged for a product is known as

Accepted Answer

A) a product. 
B) the price. 
C) promotion. 
D) the place or distribution. 
E) productivity.

Question 15

All of the following statements about the overall marketing program for 3M's Post-it Flag Highlighters are true except

Accepted Answer

A) David Windorski, a 3M inventor, designed the second generation of Post-it Flag Highlighters and Pens without the rotating cover to make it easier to insert replacement flags. 
B) students were initially the intended target market for the Post-it Flag Highlighter. 
C) in his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market. 
D) David Windorski, the designer of the Post-it Flag Highlighter, appeared on "The Oprah Winfrey Show" so she could thank him in person for "his most incredible invention." 
E) 3M recently introduced additions to the Post-it Flag+ line: a Post-it Flag+ Gel Pen and a Post-it Flag+ Permanent Marker.

Question 16

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. This statement is most closely related to the __________ element of the marketing mix.

Accepted Answer

A) product 
B) philanthropy 
C) price 
D) place 
E) promotion

Question 17

Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Other items in the product line contain small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri-Sun juice, or Kool-Aid. The box is bright yellow and the quantity of food contained within it is small. The target market for Kraft Lunchables is most likely

Accepted Answer

A) moms with school-age children who pack a simple healthy lunch for them. 
B) businesspeople looking for a fulfilling breakfast at the office. 
C) business travelers on the run. 
D) teenagers who are hungry for an after-school snack. 
E) baby boomers who are trying to lose weight.

Question 18

________________ is/are responsible for establishing the organization's mission and objectives.

Accepted Answer

A) Other organizations 
B) Suppliers 
C) Customers 
D) Senior management 
E) Shareholders

Question 19

The __________ element of the marketing mix is demonstrated when a company places an ad on a highway billboard.

Accepted Answer

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

Question 20

Although an organization's marketing activity focuses on assessing and satisfying consumer needs, an organization must also _______________ the interests of countless other people, groups, and forces that interact to shape the nature of its actions.

Accepted Answer

A) resist 
B) strike a balance among 
C) maximize 
D) be responsible for 
E) minimize

Exam 1: Creating Customer Relationships and Value Through Marketing