Question 1

The American Red Cross creates advertisements to encourage people to donate blood.After viewing one,Amanda decided to donate a pint of blood.After she did,Amanda felt happy that she had performed a good deed.Did an exchange occur in a marketing sense?

Accepted Answer

A)   Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity.
B)   Yes, because the donated blood was exchanged for a feeling of satisfaction.
C)   No, because the Red Cross is nonprofit organization.
D)   No, because no money changed hands.
E)   No, because the Red Cross, a service organization, did not provide Amanda with a product.

Question 2

To serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Accepted Answer

A)   change
B)   create
C)   manipulate
D)   discover
E)   measure

Question 3

What kinds of organizations should engage in marketing?

Accepted Answer

A)   only those that can afford to advertise
B)   only very large and established for-profit organizations
C)   only Fortune 5,000 companies
D)   every organization regardless of the kind
E)   only if the organization has a profit motivation

Question 4

Mark Zuckerberg encountered unimaginable success with his launch of "TheFacebook.com" website from his college dorm room.By the second week,it had almost __________ members.

Accepted Answer

A)   100
B)   300
C)   500
D)   1,000
E)   5,000

Question 5

Explain the difference between a market and a target market.Provide a specific example of each.

Accepted Answer

Potential consumers make up a market,whi...

Question 6

Which of the following statements best describes a good?

Accepted Answer

A)   Goods are physical objects.
B)   Goods are the only currency that can be used in an exchange.
C)   Goods are intangible concepts and thoughts about ideas or causes.
D)   Goods are the benefits organizations receive for selling products and services.
E)   Goods can be either tangible or intangible.

Question 7

To serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

Accepted Answer

A)   change
B)   satisfy
C)   create
D)   manipulate
E)   preserve

Question 8

The __________ element of the marketing mix is demonstrated when Amazon delivers packages to a customer's front porch via the U.S.Postal Service.

Accepted Answer

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

Question 9

Initially,Facebook targeted which consumer market segment?

Accepted Answer

A)   grade school children ages 6 to 12 years old
B)   high school students
C)   college students
D)   adults with professional occupations
E)   senior adults 55 years and older

Question 10

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

Accepted Answer

A)   ultimate consumers
B)   situational buyers
C)   primary buyers
D)   a target market
E)   household prospects

Question 11

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used for the old-fashioned cookies the company produces and markets.The cookies are which part of the company's marketing mix?

Accepted Answer

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

Question 12

The process of turning corn into ethanol shows how BioFuel Energy,a Minnesota ethanol producer,can create __________ utility.

Accepted Answer

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

Question 13

Pepsi True is new cola from Pepsi-Cola is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Accepted Answer

A)   a lack of advertising on television.
B)   mid-calorie soft drinks such as Pepsi Next (2012)  have not been successful in the past.
C)   a lower profit margin due to the added costs of expensive ingredients.
D)   cannibalization of the company's existing sodas.
E)   the use of a combination of sugar and stevia leaf extract.

Question 14

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

Accepted Answer

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

Question 15

The marketing department of an organization is responsible for facilitating

Accepted Answer

A)   relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
B)   healthy competition with other product manufacturers.
C)   financial contracts with banks and other lending institutions.
D)   alliances with firms with noncompetitive products that target similar markets.
E)   the coordination between the various departments within the entire firm.

Question 16

Discovering consumer needs leads directly to

Accepted Answer

A)   purchases by customers.
B)   stakeholder rewards.
C)   sales and manufacturing department outcomes.
D)   supplier and distributor outcomes.
E)   concepts for new products.

Question 17

Which of the following is not an environmental force?

Accepted Answer

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

Question 18

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well-being is known as

Accepted Answer

A)   the societal marketing concept.
B)   the marketing concept.
C)   consumerism.
D)   social responsibility.
E)   capitalism.

Question 19

Which of the following statements about customer value is most accurate?

Accepted Answer

A)   Target customers assess customer value in terms of the combination of benefits (quality, convenience, etc.) , regardless of the price.
B)   Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
C)   Research suggests that firms can be most successful by being all things to all consumers.
D)   It is impossible to place a dollar value on a loyal, satisfied customer.
E)   By providing unique value for targeted buyers, firms can build long-term relationships with them.

Question 20

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

Accepted Answer

A)   Marketers
B)   Suppliers
C)   Customers
D)   Senior management
E)   Shareholders

Exam 1: Creating Customer Relationships and Value Through Marketing

To serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

Correct AnswerverifiedShow Answer

Initially,Facebook targeted which consumer market segment?

Correct AnswerverifiedShow Answer

To serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Correct AnswerverifiedShow Answer

What is the marketing term for people,whether they are 80 years or 8 months old,who use products and services purchased for a household?

Correct AnswerverifiedShow Answer

Mark Zuckerberg encountered unimaginable success with his launch of "TheFacebook.com" website from his college dorm room.By the second week,it had almost __________ members.

Correct AnswerverifiedShow Answer

Which of the following statements about customer value is most accurate?

Correct AnswerverifiedShow Answer

The marketing department of an organization is responsible for facilitating

Correct AnswerverifiedShow Answer

Which of the following is not an environmental force?

Correct AnswerverifiedShow Answer

The ability to buy a soda from a vending machine demonstrates which element of the marketing mix?

Correct AnswerverifiedShow Answer

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well-being is known as

Correct AnswerverifiedShow Answer

Discovering consumer needs leads directly to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements best describes a good?

Correct AnswerverifiedShow Answer

The American Red Cross creates advertisements to encourage people to donate blood.After viewing one,Amanda decided to donate a pint of blood.After she did,Amanda felt happy that she had performed a good deed.Did an exchange occur in a marketing sense?

Correct AnswerverifiedShow Answer

What kinds of organizations should engage in marketing?

Correct AnswerverifiedShow Answer

Pepsi True is new cola from Pepsi-Cola is sweetened with a combination of sugar and stevia leaf extract,resulting in a soft drink with the same flavor of Pepsi but only 60 calories.A potential showstopper for this product is likely to be

Correct AnswerverifiedShow Answer

The __________ element of the marketing mix is demonstrated when Amazon delivers packages to a customer's front porch via the U.S.Postal Service.

Correct AnswerverifiedShow Answer

Explain the difference between a market and a target market.Provide a specific example of each.

Correct AnswerverifiedPotential consumers make up a market,whi...View AnswerShow Answer

The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used for the old-fashioned cookies the company produces and markets.The cookies are which part of the company's marketing mix?

Correct AnswerverifiedShow Answer

The process of turning corn into ethanol shows how BioFuel Energy,a Minnesota ethanol producer,can create __________ utility.

Correct AnswerverifiedShow Answer

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Potential consumers make up a market,whi...
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