Question 1

Innovations in the textile industry have led to fabrics that help regulate body temperature, reduce wind resistance, and control muscle vibration, all of which help improve athletic performance. This shows how manufacturing can create __________ utility.

Accepted Answer

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

Question 2

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Accepted Answer

A)   relationship marketing.
B)   exclusive dealing.
C)   loyalty marketing.
D)   customer relationship management.
E)   symbiotic marketing.F) B) and D)
G) None of the above

Question 3

Russia's world-class, 1,000-room State Hermitage Museum wanted to find a way to market itself to potential first-time visitors. So it developed a free app to guide visitors through the museum and provide information about events and exhibits. The Hermitage is ________ that uses an app to market itself worldwide.

Accepted Answer

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

Question 4

The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes __________ utility.

Accepted Answer

A)   time
B)   place
C)   market
D)   possession
E)   formF) C) and D)
G) All of the above

Question 5

What four factors are required for marketing to occur?

Accepted Answer

For marketing to occur, four factors are...

Question 6

In the performing arts world, Tessitura uses box office technology to track every patron transaction, including ticket purchases, fund-raising, volunteering, and gift shop purchases, in one database. The information can help symphonies, operas, and theaters develop customer profiles to tailor sales messages to specific individuals. Tessitura will allow arts groups to engage in

Accepted Answer

A)   market aggregation.
B)   relationship marketing.
C)   societal marketing.
D)   market mining.
E)   mainstream marketing.F) D) and E)
G) A) and C)

Question 7

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular movies and video games 24 hours a day. This creates both ________ and ________ utilities.

Accepted Answer

A)   form; place
B)   form; time
C)   place; time
D)   time; possession
E)   form; possessionF) A) and B)
G) A) and C)

Question 8

What is the best definition of a product?

Accepted Answer

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

Question 9

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.F) A) and C)
G) B) and E)

Question 10

Today, the standards of marketing practice have shifted from the interests of producers to the interests of

Accepted Answer

A)   nonprofit organizations.
B)   government.
C)   retailers.
D)   stockholders.
E)   consumers.F) A) and E)
G) A) and B)

Question 11

Robert was running low on cash when he went to buy his marketing textbook on the first day of class. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.

Accepted Answer

A)   form
B)   time
C)   price
D)   possession
E)   placeF) D) and E)
G) A) and B)

Question 12

In marketing, thoughts about concepts, actions, or causes are referred to as

Accepted Answer

A)   utilities.
B)   experiences.
C)   values.
D)   ideas.
E)   services.F) B) and C)
G) A) and C)

Question 13

Marketers often discover consumer needs by

Accepted Answer

A)   implementing a marketing program.
B)   conducting effective marketing research.
C)   balancing the marketing mix elements-the four Ps of the marketing program.
D)   advertising to diverse groups of prospective buyers.
E)   copying the products and services of competitors.F) B) and E)
G) C) and D)

Question 14

Shortly after World War II, John Jackson developed and began selling a machine lubricant that was superior to anything currently on the market. While demand kept up with production at first, several strong competitors added new products and he soon had to hire a sales force to sell excess product to manufacturing companies in the area. 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)   social entrepreneurshipF) A) and E)
G) A) and C)

Question 15

What is the societal marketing concept?

Accepted Answer

A)   The moral principles and values that govern the actions and decisions of an organization.
B)   The idea that organizations are part of a larger society and are accountable to that society for their actions.
C)   An active attempt to understand customer needs and satisfy them while satisfying the firm's goals.
D)   An approach that involves conducting business in a way that protects the natural environment while making economic progress.
E)   The view that an organization should satisfy the needs of consumers in a way that provides for society's well-being.F) B) and E)
G) A) and B)

Question 16

The five major environmental forces affecting marketing decisions are

Accepted Answer

A)   climate change, natural resources, pollution, natural disasters, and global conflict.
B)   social, technological, economic, competitive, and regulatory.
C)   corporate ownership, internal management, supplier partnerships, strategic alliances, and customer relationships.
D)   product, price, promotion, place, and people.
E)   ethics, sustainability, cultural awareness, diversity, and values.F) B) and D)
G) A) and E)

Question 17

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.F) A) and E)
G) All of the above

Question 18

The idea that individuals and organizations are accountable to a larger society is known as

Accepted Answer

A)   the societal marketing concept.
B)   social responsibility.
C)   consumerism.
D)   sustainable development.
E)   capitalism.F) C) and D)
G) A) and E)

Question 19

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Accepted Answer

A)   preference.
B)   need.
C)   utility.
D)   perception.
E)   expression.F) A) and E)
G) C) and E)

Question 20

Which factor is required for marketing to occur?

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)   something to exchangeF) B) and D)
G) None of the above

Exam 1: Creating Customer Relationships and Value Through Marketing

Innovations in the textile industry have led to fabrics that help regulate body temperature, reduce wind resistance, and control muscle vibration, all of which help improve athletic performance. This shows how manufacturing can create __________ utility.

Correct Answer
verified

Today, the standards of marketing practice have shifted from the interests of producers to the interests of

Correct Answer
verified

The five major environmental forces affecting marketing decisions are

Correct Answer
verified

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Correct Answer
verified

In marketing, thoughts about concepts, actions, or causes are referred to as

Correct Answer
verified

Robert was running low on cash when he went to buy his marketing textbook on the first day of class. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.

Correct Answer
verified

Correct Answer
verified

What is the best definition of a product?

Correct Answer
verified

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular movies and video games 24 hours a day. This creates both and utilities.

Correct Answer
verified

The idea that individuals and organizations are accountable to a larger society is known as

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

What is the societal marketing concept?

Correct Answer
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Discovering consumer needs leads directly to

Correct Answer
verified

Marketers often discover consumer needs by

Correct Answer
verified

Which factor is required for marketing to occur?

Correct Answer
verified

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Correct Answer
verified

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

Correct Answer
verified

What four factors are required for marketing to occur?

Correct Answer
verified
For marketing to occur, four factors are...
View Answer

The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes __________ utility.

Correct Answer
verified

Exam 1: Creating Customer Relationships and Value Through Marketing

Innovations in the textile industry have led to fabrics that help regulate body temperature, reduce wind resistance, and control muscle vibration, all of which help improve athletic performance. This shows how manufacturing can create __________ utility.

Correct AnswerverifiedShow Answer

Today, the standards of marketing practice have shifted from the interests of producers to the interests of

Correct AnswerverifiedShow Answer

The five major environmental forces affecting marketing decisions are

Correct AnswerverifiedShow Answer

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Correct AnswerverifiedShow Answer

In marketing, thoughts about concepts, actions, or causes are referred to as

Correct AnswerverifiedShow Answer

Robert was running low on cash when he went to buy his marketing textbook on the first day of class. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the best definition of a product?

Correct AnswerverifiedShow Answer

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular movies and video games 24 hours a day. This creates both ________ and ________ utilities.

Correct AnswerverifiedShow Answer

The idea that individuals and organizations are accountable to a larger society is known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the societal marketing concept?

Correct AnswerverifiedShow Answer

Discovering consumer needs leads directly to

Correct AnswerverifiedShow Answer

Marketers often discover consumer needs by

Correct AnswerverifiedShow Answer

Which factor is required for marketing to occur?

Correct AnswerverifiedShow Answer

Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What four factors are required for marketing to occur?

Correct AnswerverifiedFor marketing to occur, four factors are...View AnswerShow Answer

The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes __________ utility.

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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Correct Answer
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Correct Answer
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Correct Answer
verified

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular movies and video games 24 hours a day. This creates both and utilities.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
For marketing to occur, four factors are...
View Answer

Correct Answer
verified