Question 1

economics student would like to buy a mini-scooter but she cannot afford one.Which of the following reasons explain why marketing fails to occur here?

Accepted Answer

A)  There are not two or more parties with unsatisfied needs. 
B)  A desire to satisfy a need is missing. 
C)  No assessments of consumer wants and needs have been made. 
D)  There is no way for the parties involved to communicate. 
E)  The ability to satisfy a need is missing.

Question 2

product

Accepted Answer

A)  consists of the benefits or customer value received by its sellers. 
B)  is the cluster of benefits that an organization promises customers to satisfy their needs. 
C)  is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value. 
D)  consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort. 
E)  is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.

Question 3

element of the marketing mix that describes a good,service,or idea to satisfy consumers' needs is known as

Accepted Answer

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

Question 4

Which of the following is an example of form utility?

Accepted Answer

A)  an iPhone with a "multitouch" user interface for easy navigation 
B)  stamp vending machines that are located in drug stores 
C)  a service station that has a 24-hour ice machine available for use when the station is closed 
D)  a mobile phone company that offers six-month financing, same as cash 
E)  a gourmet candy store that offers a home delivery service

Question 5

Which of the following groups would be the LEAST LIKELY target market for a company producing canned food in single serving sizes?

Accepted Answer

A)  single adults 
B)  school kitchens 
C)  campers 
D)  senior citizens 
E)  vending machine owners

Question 6

Which of the following statements about 3M's market research prior to introducing the Post-it® Flag Highlighter is most accurate?

Accepted Answer

A)  David Windorski worked with clay and wood models to see how much additional weight students would be willing to carry in their backpacks. 
B)  David Windorski asked students to dump the contents of their backpacks to make sure no clay prototype was being stolen. 
C)  David Windorski used focus groups, observed students' studying behavior, and even gave out trial Post-it® Flag Highlighters to a sample of students to try for a month. 
D)  David Windorski hired students to act as "brand evangelists" to handout promotional samples of Post-it® Flag Highlighters to other students at their respective universities and colleges during "move-in day." 
E)  David Windorski hired students as "mystery shoppers" to see what office supplies students bought at their college bookstores during the week before as well as the first week of classes.

Question 7

Which of the following is NOT a macromarketing-related issue?

Accepted Answer

A)  determining whether advertising is wasteful 
B)  identifying natural resource scarcities in the marketing system 
C)  assessing whether marketing costs too much 
D)  determining how an individual organization directs its marketing activities and allocates its resources to benefit its customers 
E)  studying the aggregate flow of a nation's products and services to benefit society

Question 8

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

Accepted Answer

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

Question 9

business student is preparing for the Graduate Management Admission Test (GMAT)so he can get into a good graduate business school.He knows that any money he spends on a tutor will be well worth it if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.What is the next logical step in order for marketing to occur?

Accepted Answer

A)  He should buy a GMAT study guide at the bookstore. 
B)  He should find out what the minimum score he needs to get into the school of his choice. 
C)  He should check for ads for tutors in the college and local papers, ask his friends, look for flyers by her on a bulletin board in the business college student lounge, etc. 
D)  He should consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission. 
E)  He should apply for delayed admission if he can't find this tutor.

Question 10

Figure 1-2
-Figure 1-2 above,"D" represents a firm's relationship with

Accepted Answer

A)  other organizations. 
B)  suppliers. 
C)  shareholders. 
D)  customers. 
E)  other departments.

Question 11

process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create __________ utility.

Accepted Answer

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

Question 12

student would like to buy a sports car from the local dealer,but she cannot afford one.Marketing does not occur in this situation because

Accepted Answer

A)  two or more parties have unsatisfied needs. 
B)  there is no desire on the part of either party to satisfy its needs. 
C)  one of the involved parties does not have the ability to satisfy its needs. 
D)  there is no way for each party to communicate with one another. 
E)  there has been no assessment of consumer wants and needs.

Question 13

Which of the following statements about marketing activities is most accurate?

Accepted Answer

A)  Marketing is affected by society but rarely, if ever, affects society as a whole. 
B)  The marketing department works closely with other departments and employees to implement marketing activities. 
C)  Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall). 
D)  Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research. 
E)  Marketing, after all is said and done, is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.

Question 14

market-oriented,older manufacturing organizations have experienced four distinct stages in the life of their firms.Beginning with the 1860s,list and define each of the four eras of U.S.business history.

Accepted Answer

The answer of market-oriented,older manufacturing organizations have experienced four distinct...

Question 15

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

Accepted Answer

A)  the trade of things of value between buyer and seller so that each is better off after the trade. 
B)  the negotiation phase between the manufacturer and the seller. 
C)  the financial remuneration (monetary payment) for a product or service. 
D)  the bartering of products and services for other products and services. 
E)  the practice of swapping products and services for other products and services rather than for money.

Question 16

purpose of the introduction of 3M Post-it® Flag Highlighters was to

Accepted Answer

A)  stay ahead of trends and focus its marketing program on only one segment. 
B)  stay ahead of trends and focus its marketing program on two mutually inclusive segments. 
C)  increase production economies of scale by reducing manufacturing and marketing costs for Post-it® Flags and Post-it® Notes. 
D)  preempt a competitive move by Sanford's Sharpie to introduce a similar product. 
E)  help college students with their studying.

Question 17

Figure 1-5
-Figure 1-5 above,"A" represents which era in U.S.business history?

Accepted Answer

A)  sales era 
B)  production era 
C)  age of consumerism 
D)  marketing concept era 
E)  customer relationship era

Question 18

Shortly after World War II,Sam Jackson developed an idea for a biodegradable lubricant that was superior to anything currently on the market.He was excited about his new idea and persuaded a number of his friends to help produce samples.While demand kept up with production at first,he soon found that he had to hire a sales force to sell excess product to manufacturing companies in the area.He decided this was primarily because his company had several strong competitors that had recently come into the industry.This is an example of marketing behavior that would occur during the __________ era of U.S.business history.

Accepted Answer

A)  marketing concept 
B)  production 
C)  goods 
D)  sales 
E)  societal marketing concept

Question 19

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

Accepted Answer

A)  a prospective customer. 
B)  the primary marketing decision maker. 
C)  a potential distributor. 
D)  an informed buyer. 
E)  an unqualified prospect.

Question 20

Figure 1-5
-Figure 1-5 above,letter "D" represents which era in U.S.business history?

Accepted Answer