Question 1

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

Accepted Answer

A)  that Scotch tape had outgrown its usefulness to students.
B)  to make new products that have higher quality.
C)  that the average backpack was already too heavy.
D)  that it would be reasonable to put Post-it® Flags together with a highlighter.
E)  to determine the ratio of 3M products to study aid products of other competitors.F) B) and C)
G) A) and B)

Question 2

During October,kiosk or "pop-up" stores often 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 "pop-up" retailers vanish.Is it possible for such a retailer to use relationship marketing? Explain your answer.

Accepted Answer

Generally,students will say "no" based o...

Question 3

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

To reach consumers,marketing managers us...

Question 4

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Accepted Answer

A)  "We'd better do some market testing to determine why people are dissatisfied."
B)  "Perhaps we should make candy bars with raisins."
C)  "Let's put more aggressive salespeople in the field."
D)  "Let's lower the price and change the name."
E)  "Don't worry about it;we're the largest candy manufacturer in the area.Sooner or later they'll get hungry enough that they'll come to us."F) C) and E)
G) B) and C)

Question 5

The marketing concept refers to

Accepted Answer

A)  the activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large.
B)  the belief that an organization should focus its efforts on (1) continuously collecting information about customers' needs, (2) sharing this information across departments,and (3) using it to create customer value.
C)  the view that organizations should satisfy the needs of consumers in a way that provides for society's well being.
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)  the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.F) B) and D)
G) All of the above

Question 6

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 hygieneF) D) and E)
G) A) and E)

Question 7

In Figure 1-2 above,"B" represents an organization's partnerships with

Accepted Answer

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

Question 8

__________ of all new businesses fail within five years of their launch.

Accepted Answer

A)  Only 5 percent
B)  Only 10 percent
C)  Only 25 percent
D)  About 40 percent
E)  Over 50 percentF) A) and B)
G) B) and E)

Question 9

A marketing program refers to

Accepted Answer

A)  a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.
B)  the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line.
C)  the marketing manager's controllable factors-product,price,promotion,and place-that can be used to solve a marketing problem.
D)  the specific ratio within a marketing budget that divides resources between advertising,promotions,and personal selling.
E)  the allocation of resources within a firm towards individual marketing mix elements.F) A) and E)
G) None of the above

Question 10

All of the following are departments in a typical organization EXCEPT:

Accepted Answer

A)  finance.
B)  manufacturing.
C)  information systems.
D)  human resources.
E)  suppliers.F) C) and D)
G) B) and C)

Question 11

In Figure 1-2 above,"D" represents an organization's relationships with

Accepted Answer

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

Question 12

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river.Oil manufacturers know this in not an isolated occurrence,so should they be concerned?

Accepted Answer

A)  No,you paid for the oil and you can dispose of it as you like.
B)  No,the oil company will someday add a premium to the price to pay for oil cleanup in the environment.
C)  Yes,this is the type of situation that can get "Big Oil" a lot of bad press.
D)  Yes,this is an issue of social responsibility because the polluted water affects others in the society at large.
E)  No,this is an issue solely between you and your neighbors.F) B) and C)
G) A) and B)

Question 13

In our free-enterprise society,which three specific groups benefit from effective marketing?

Accepted Answer

The three specific groups that benefit f...

Question 14

Michelin's __________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Accepted Answer

A)  customer value proposition
B)  protocol
C)  mission statement
D)  core values
E)  marketing programF) None of the above
G) A) and B)

Question 15

All of the following are environmental forces that affect an organization EXCEPT:

Accepted Answer

A)  economic
B)  geographical
C)  social
D)  regulatory
E)  technologicalF) B) and E)
G) None of the above

Question 16

The Hermitage,a famous Russian art museum,was suffering financial difficulties as the result of lost funding and a decline in tourists.The decrease in visitors was blamed on a lack of awareness of the treasures contained in the museum.The Hermitage's director used a strategic alliance with IBM to create a website where people view some of the wonders of the Hermitage in an online virtual tour.The hope is that this sampling of paintings,sculptures,artifacts,etc.will encourage visitors to make a trip to the Hermitage and spend enough money there to cover operational costs.The Hermitage is a(n) __________ that uses online virtual tours to market itself worldwide.

Accepted Answer

A)  good
B)  idea
C)  service
D)  assembly
E)  charityF) B) and E)
G) A) and C)

Question 17

To avoid new-product failure,new-product expert Robert M.McMath suggests

Accepted Answer

A)  implementing a regional rather than a nationwide rollout of a new product.
B)  building a hierarchical organizational structure so that more people have a chance to spot product problems.
C)  focusing on customer benefits and learning from the past.
D)  increasing the marketing budget,since "success comes to those who can outspend the competition."
E)  releasing several different versions of a new product at the same time to see which one is most successful.F) A) and E)
G) C) and D)

Question 18

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Accepted Answer

A)  a product.
B)  promotion.
C)  the price.
D)  the place or distribution.
E)  advertising.F) C) and E)
G) C) and D)

Question 19

Which of the following is an example of time utility?

Accepted Answer

A)  an iPhone with a "multitouch" user interface for easy navigation
B)  Goodwill that has a 24-hour drop off box for clothing donations
C)  a dry cleaners that is located inside a supermarket
D)  a mobile phone company that offers six-month financing,same as cash
E)  a new herbal supplement that offers a 30-day free trialF) A) and C)
G) None of the above

Question 20

In Figure 1-5 above,letter "C" 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 eraF) B) and E)
G) A) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following is an example of time utility?

Correct Answer
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In Figure 1-2 above,"B" represents an organization's partnerships with

Correct Answer
verified

Michelin's __________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Correct Answer
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All of the following are environmental forces that affect an organization EXCEPT:

Correct Answer
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Correct Answer
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Generally,students will say "no" based o...
View Answer

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

Correct Answer
verified

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

Correct Answer
verified
To reach consumers,marketing managers us...
View Answer

To avoid new-product failure,new-product expert Robert M.McMath suggests

Correct Answer
verified

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

Correct Answer
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A marketing program refers to

Correct Answer
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All of the following are departments in a typical organization EXCEPT:

Correct Answer
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The marketing concept refers to

Correct Answer
verified

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Correct Answer
verified

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Correct Answer
verified

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river.Oil manufacturers know this in not an isolated occurrence,so should they be concerned?

Correct Answer
verified

Correct Answer
verified

In our free-enterprise society,which three specific groups benefit from effective marketing?

Correct Answer
verified
The three specific groups that benefit f...
View Answer

In Figure 1-2 above,"D" represents an organization's relationships with

Correct Answer
verified

__________ of all new businesses fail within five years of their launch.

Correct Answer
verified

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

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Which of the following is an example of time utility?

Correct AnswerverifiedShow Answer

In Figure 1-2 above,"B" represents an organization's partnerships with

Correct AnswerverifiedShow Answer

Michelin's __________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Correct AnswerverifiedShow Answer

All of the following are environmental forces that affect an organization EXCEPT:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedGenerally,students will say "no" based o...View AnswerShow Answer

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedTo reach consumers,marketing managers us...View AnswerShow Answer

To avoid new-product failure,new-product expert Robert M.McMath suggests

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A marketing program refers to

Correct AnswerverifiedShow Answer

All of the following are departments in a typical organization EXCEPT:

Correct AnswerverifiedShow Answer

The marketing concept refers to

Correct AnswerverifiedShow Answer

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

Correct AnswerverifiedShow Answer

Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S.business history) .Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?

Correct AnswerverifiedShow Answer

You change the oil in your car yourself and dump the used oil down the sewer drain that ultimately flows into the local river.Oil manufacturers know this in not an isolated occurrence,so should they be concerned?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In our free-enterprise society,which three specific groups benefit from effective marketing?

Correct AnswerverifiedThe three specific groups that benefit f...View AnswerShow Answer

In Figure 1-2 above,"D" represents an organization's relationships with

Correct AnswerverifiedShow Answer

__________ of all new businesses fail within five years of their launch.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Generally,students will say "no" based o...
View Answer

Correct Answer
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Correct Answer
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To reach consumers,marketing managers us...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The three specific groups that benefit f...
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Correct Answer
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Correct Answer
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Correct Answer
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