Question 1

a marketing context,a market refers to

Accepted Answer

A)  people with a similar want for a particular product or service. 
B)  people with both the desire and ability to buy a specific offering. 
C)  the central location for all buying and selling of products and services. 
D)  an open space or covered building where vendors convene to sell their offerings. 
E)  the free the operation of supply and demand.

Question 2

owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products they market.Concern about the __________ element of the marketing mix would make them eager to be featured in an upcoming edition of Taste of Home magazine.

Accepted Answer

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

Question 3

respect to the history of American business,the __________ era started in the 1980s in which firms seek continuously to satisfy the high expectations of customers.

Accepted Answer

A)  production 
B)  sales 
C)  marketing concept 
D)  customer relationship 
E)  societal marketing

Question 4

Relationship marketing refers to

Accepted Answer

A)  the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers. 
B)  the belief that it is easier and less expensive to find new customers than to retain old ones. 
C)  the linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits. 
D)  the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace. 
E)  exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.

Question 5

Twitter is a website that offers a social networking service,enabling its users to send and read other users' messages or conversations called tweets,which are text-based posts of up to 140 HYPERLINK "http://en.wikipedia.org/wiki/Character_(computing)"characters displayed on the user's HYPERLINK "http://en.wikipedia.org/wiki/User_profile"profile page.Connected to each "tweet" is a rich details pane that provides additional information,deeper context,and embedded media.Companies are just beginning to use Twitter as a tool in their relationship marketing programs.In what ways could Twitter be used to benefit both the customer and the organization?

Accepted Answer

The answer of Twitter is a website that offers a...

Question 6

or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Accepted Answer

A)  mass market. 
B)  tangential market. 
C)  potential market. 
D)  target market. 
E)  promotional market.

Question 7

church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief,positive story about how fellow members have helped them during times of need.Jack volunteered and shared his story during a service.Afterwards,he felt joyous.Was this an exchange in a marketing sense?

Accepted Answer

A)  Yes, because the church ran an advertisement, a marketing activity. 
B)  No, because the church is nonprofit organization and these actions are expected without any expectation of "exchange." 
C)  No, because no money was exchanged. 
D)  Yes, because sharing his story at a service was exchanged for a feeling of joy. 
E)  No, because the church did not provide Jack with a tangible product or service.

Question 8

local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

Accepted Answer

A)  marketing doesn't apply to the voting process 
B)  the desire and ability to satisfy needs is missing 
C)  there is no direct way for the parties to communicate 
D)  something to exchange is missing 
E)  the candidate's message is compelling

Question 9

of the following are true about marketing EXCEPT:

Accepted Answer

A)  Marketing is a broader activity than advertising. 
B)  Marketing stresses the importance of delivering genuine benefits in the offerings of products, services, and ideas. 
C)  Marketing persuades people to buy the "wrong" things. 
D)  When an organization engages in marketing, all stakeholders should benefit. 
E)  Marketing is a broader activity than personal selling.

Question 10

Organizations such as American Airlines,U.S.Bank,and Red Cross provide customers with goods that are typically called a(n)__________.

Accepted Answer

A)  utility 
B)  product 
C)  service 
D)  value 
E)  idea

Question 11

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day.This creates both __________ and __________ utility.

Accepted Answer

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

Question 12

Which answer reflects (in order)a good,a service,and an idea that can be marketed?

Accepted Answer

A)  a candy bar, a wastepaper basket, and a vending machine 
B)  a CD, a concert, and a souvenir T-shirt 
C)  a political candidate, democracy, and freedom 
D)  an iPod, an iPhone, and an iPad 
E)  a toothbrush, laser teeth whitening, and dental hygiene

Question 13

large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

Accepted Answer

A)  social 
B)  economic 
C)  technological 
D)  competitive 
E)  regulatory

Question 14

factors are required for marketing to occur: (1)two or more parties (individuals or organizations)with unsatisfied needs; (2)__________; (3)a way for the parties to communicate; and (4)something to exchange.

Accepted Answer

A)  a healthy competitive environment 
B)  government approval 
C)  a sense of social responsibility 
D)  a desire and ability on their part to be satisfied 
E)  an ability to see hidden potential within an environmental force

Question 15

Which of the following statements best distinguishes macromarketing from micromarketing?

Accepted Answer

A)  Macromarketing uses a marketing program while micromarketing does not. 
B)  Macromarketing is affected by environmental forces but micromarketing is not. 
C)  Micromarketing is affected by environmental forces but macromarketing is not. 
D)  Macromarketing looks at the flow of an entire nation's goods and services and micromarketing concerns itself with the marketing activities of an organization. 
E)  Micromarketing looks at the flow of an entire nation's goods and services and macromarketing concerns the marketing activities of an organization.

Question 16

college student is taking a full course load,working 20 hours per week,and still has to take out a student loan to cover tuition.One day,the student sees a classmate driving a Lexus sports coupe and feels he just has to have one of his own.What factor is MOST LIKELY to prevent a successful marketing exchange between the student and a Lexus dealer?

Accepted Answer

A)  The local Lexus dealer does not have any sports coupes in stock. 
B)  The student does not have the resources to qualify for a $50,000 auto loan. 
C)  Although the Lexus is a great car, there may be other cars with better gas mileage and resale value. 
D)  He's afraid that if someone at school sees him with the car, he might lose his student loan. 
E)  His girlfriend wants him to drive a Kia Soul.

Question 17

student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.).If they both purchase the same model smartphone,such as an iPhone 4S,which statement is most accurate?

Accepted Answer

A)  The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment. 
B)  Both the adjuster and the student are potential customers because in their own way, they both benefit from the product. 
C)  Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers. 
D)  The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use. 
E)  Every person who uses a smartphone is prospective customer; they benefit whether they purchase the smartphone or not.

Question 18

Effective marketing benefits society because it

Accepted Answer

A)  reduces competition, making the playing field more even. 
B)  improves the quality of products and services regardless of the cost. 
C)  allows companies to charge whatever price they want, regardless of product quality. 
D)  makes countries more competitive in world markets while simultaneously reducing competition in their home markets. 
E)  enhances competition, which improves the quality of products and services and lowers their prices.

Question 19

Marketing managers used a combination of four tools in order to develop a complete marketing program to reach consumers.Briefly define these four tools.

Accepted Answer

The answer of Marketing managers used a combination of four...

Question 20

Units such as manufacturers,retailers,and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A)  intermediate buyers. 
B)  selling agents. 
C)  organizational buyers. 
D)  manufacturing agents. 
E)  brokers.

Exam 1: Creating Customer Relationships and Value Through Marketing