Liberty University BUSI 330 quiz 1 solutions answers right

Liberty University BUSI 330 quiz 1 solutions answers right

How many versions: 5 different versions

https://www.coursemerit.com/solution-details/22852/BUSI-330-quiz-1-complete-solutions-correct-answers-A-work

Question 1 The United Way of Greater Toronto (UWGT), like many charities, was sitting on a gold mine of donor data. Unfortunately, UWGT was not certain how to use that information to its greatest advantage. UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT over other charities. Which of the following tools would be most useful for the nonprofit organization to use?

Question 2 To serve both buyers and sellers, marketing seeks to discover and __________ the needs and wants of prospective customers.

Question 3 Dick's Sporting Goods carries baseballs all year around. The same is true for footballs and tennis equipment. With this all­year­around strategy, Dick's Sporting Goods offers __________ utility for these products.

Question 4 Which of the following statements about relationship marketing is most accurate?

Question 5 The United States Army recently has been both praised and criticized for its use of a popular video game, America's Army, which is designed to reach potential recruits. The game's creator, Colonel Casey Wardynski, wanted to provide a sense of the training and teamwork one could find in the Army's military environment. The game is designed for "boys 14 years or older," which represent the Army's __________.

Question 6 Which of the following statements about marketing departments is most accurate?

Question 7 Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Other items in the product line contain small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri­Sun juice, or Kool­Aid. The box is bright yellow and the quantity of food contained within it is small. The target market for Kraft Lunchables is most likely:

Question 8 The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Question 9 Which of the following conditions are necessary for marketing to occur?

Question 10 Which of the following statements best describes a service?

Question 11 If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a __________ strategy.

Question 12 A marketing strategy refers to

Question 13 A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Question 14 Figure 2­5 Consider Figure 2­5 above. A family owns a gelato business in a small town square next to a park, a favorite place for parents and children to stop on their way home from work or school. However, the business owner is barely making ends meet. He doesn't want to give up his store but in addition he begins selling hand­made flies on the Internet for professional sports fishermen. This is an example of a __________ strategy that would be found in quadrant __________.

Question 15 IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Question 16 The number one consumer complaint about bananas is how soon they start getting brown spots. Dole most likely set a(n) __________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm) to make a creamy, guilt­free dessert.

Question 17 An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as

Question 18 Offering a Champion brand heart pacemaker with only the features needed by Asian patients is an example of Medtronic's

Question 19 The BCG has given specific names and descriptions to the four resulting quadrants in its growthshare matrix based on the amount of cash they generate for or require from the organization. Dogs are SBUs that are classified as having

Question 20 An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as (the)

Question 21 The first major federal legislation passed to encourage competition in the United States was the

Question 22 All of the following statements about a person's moral philosophy are true EXCEPT:

Question 23 HSBC Bank International Ltd. (Europe's largest bank) selected its advertising agency because that agency was "always sensitive to the possibility that something might not translate well or may offend superstitions about colors or numbers." Its advertising agency was incorporating

Question 24 Chrysler recycles thousands of tons of wooden pallets, cardboard, and paper annually. Chrysler cars are 75 percent recyclable. Chrysler's recycling programs are examples of

Question 25 According to a recent environmental scan, the United States has spent over $1 trillion on the war on terrorism since 2001. This expenditure is an example of a(n) __________ force.

Question 26 An alternative to government control where an industry attempts to police itself is referred to as

Question 27 Source Perrier S.A., the supplier of Perrier bottled water, exercised __________ when it recalled 160 million bottles of water in 120 countries after traces of a toxic chemical was found in 13 bottles. The recall cost the company $35 million, and the profit from $40 million in lost sales. Even though the chemical was not harmful to humans, the president of the company believed it was his duty to remove "the least doubt, as minimal as it might be, to weigh on the image of the quality and purity of our product."

Question 28 Two prominent personal moral philosophies that have direct bearing on marketing practice are

Question 29 In 1962, President John F. Kennedy outlined a Consumer Bill of Rights that codified the ethics of exchange between buyers and sellers. These were the right: (1) __________; (2) to be informed; (3) to choose; and (4) to be heard.

Question 30 The maker of Wrigley chewing gum funded a $10 million ad campaign aimed at getting African Americans to use doctors for regular health care maintenance instead of only when they are sick. This is an example of

Question 1

FreshCase packaging is the first‑ever vacuum package for red meat that maintains the meat's appetizing color, reducing both food and plastic waste. This is an example of creating __________ utility in the case‑ready meat category.

Question 2

All of the following statements about the overall marketing program for 3M's Post‑it Flag Highlighters are true EXCEPT:

Question 3

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.

Question 4

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as __________.

Question 5

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

Question 6

Which of the following is an example of time utility?

Question 7

A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Question 8

New‑product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

Question 9

All of the following are aspects of Trader Joe's customer experience EXCEPT:

Selected Answer: it has a large and expensive research and development facility.

Question 10

The marketing department of an organization is responsible for facilitating __________.

Question 11

All of the following are components of the implementation phase of the strategic marketing process EXCEPT:

Question 12

Figure 2‑3c

According to Figure 2‑3c above, which of the following states has the highest number of monthly website visits?

Question 14

Apple launched the iPad in 2010, and unit sales reached an astonishing 40 percent market share in the tablet industry by 2013, leading both Samsung's Galaxy (18 percent) and Amazon's Kindle (4 percent). Global tablet unit sales are expected to more than double by 2016 as consumers continue to switch from desktops and laptop PCs. Currently, Apple's iPad SBU appears to be a __________.

Question 15

Today's visionary organization uses three key elements to __________, set a direction, and formulate strategies.

Question 16

Cree LED Light Bulb Photo

Cree markets LED (light‑emitting diode) light bulbs (see the photo above) that replaces the traditional incandescent bulb. The Cree LED 60w bulb is 84 percent more energy efficient, lasts for 25,000 hours, and initially sold for about $12 at Home Depot. Cree is an example of a(n) __________.

Question 17

American Express has a long history of working for the good of all in its New York community. In 1885, it engaged its employees to help raise money to build the pedestal of the Statue of Liberty. Today, it has a program to help restore, preserve and revitalize historic sites in New York City. These actions by American Express are partial fulfillment of the __________ the firm has established for itself as a corporate citizen.

Question 18

The level at which managers set a more specific strategic direction for their businesses to exploit value‑creating opportunities is referred to as the

Question 19

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Question 20

An organization's mission refers to

Question 21

A time of declining economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend is referred to as

Question 22

Approximately one in __________ U.S. residents is African American, American Indian or Alaska Native, Asian American, or Native Hawaiian/Pacific Islander.

Question 23

There are three concepts of social responsibility, each relating to particular constituencies. According to Figure 3‑A above, "C" represents __________ responsibility.

Question 24

An important social trend is the continued concern for health and well‑being in the United States. This is most likely evidenced by

Question 25

The Better Business Bureau

Question 26

Which of the following is an example of green marketing?

Question 27

Many consumers are committed to brands with a strong link to social action. An example of this would be

Question 28

The Electronic Signatures in Global and National Commerce Act makes digital signatures as valid as non‑digital pen‑and‑ink signatures. This act created a demand for software and hardware that would collect, transmit, and receive digital signatures. This example indicates how __________ forces can work together in the marketing environment.

Question 29

There are three concepts of social responsibility, each relating to particular constituencies. According to Figure 3‑A above, "B" represents __________ responsibility.

Question 30

Western Digital, the Irvine, California‑based maker of disk drives, recalled about 400,000 of its hard drives because of a faulty internal chip. The chip will not affect the disk drive motor until after six to twelve months of use. This delay in the problem's appearance means that many consumers would not think to blame the disk drive manufacturer. But, instead of taking the less expensive route of remaining quiet about the problem, Western Digital chose to offer replacement disk drives for all the disk drives that had the faulty chip. This action is an example of __________.

The entirely new food category Chobani launched in 2005 was

a.         Italian-style ragù sauce.

b.        Turkish-style cottage cheese.

c.         French-style yogurt.

d.        Greek-style yogurt.

e.         Oriental-style teriyaki sauce.

From its inception, where did Hamdi Ulukaya, the creator of Chobani, Inc., want to place Chobani yogurt?

a.         the organic foods section of major grocery store chains

b.        in warehouse club stores like Sam’s Club or Costco

c.         the dairy case of major grocery store chains

d.        in mass merchandise stores like Target

e.         in both independent organic cooperatives, farmer’s markets, and major organic grocery stores like Whole Foods or Sprouts

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

a.         develop a new yogurt product line for kids.

b.        price the Chobani yogurt line below its major competitors (Yoplait and Dannon) to increase sales and market share.

c.         use Facebook, YouTube, and other social media to promote Chobani yogurt.

d.        rely on “word-of-mouth to reach new customers.

e.         employ a spokesperson to open a yogurt bar.

Which of the following statements about marketing is MOST ACCURATE?

a.         Unless you take a marketing class, you will never truly know anything about marketing.

b.        Marketing is nothing more than common sense.

c.         Marketing requires an innate sense of creativity; you either have it or you don’t.

d.        You can call yourself a marketing expert only if you have sold something.

e.         You are already a marketing expert because as a consumer, you have already been involved in marketing decisions.

Mark Zuckerberg is a co-founder of the social networking website called __________.

a.         Pinterest

b.        Groupon

c.         LinkedIn

d.        Facebook

e.         Twitter

Initially, Facebook targeted which consumer market segment?

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

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

a.         100

b.        300

c.         500

d.        1,000

e.         5,000

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

a.         Only 5 percent

b.        Only 10 percent

c.         Only 25 percent

d.        About 40 percent

e.         Over 50 percent

More than half of all new businesses fail within __________ years of their launch.

a.         two

b.        three

c.         four

d.        five

e.         ten

Mark Zuckerberg ‘s launch of “TheFacebook.com” website became a huge success.  Yet, more than half of all new businesses fail within __________ years of their launch.

a.         two

b.        three

c.         four

d.        five

e.         ten

Marketing refers to

a.         the production of products or services that will generate the highest return on investment.

b.        the strategies used in the advertising and promotion of products and services to customers around the globe.

c.         the process of identifying target market segments for a product or service.

d.        the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.

e.         the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as __________.

a.         manufacturing

b.        advertising

c.         marketing

d.        selling

e.         promotion

The combined American Marketing Association’s 2004 and 2007 definitions of marketing used in the textbook define marketing as

a.         the activity for creating, communicating, delivering, and exchanging offerings solely for the benefit of the organization’s stockholders.

b.        the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

c.         the activity for creating, communicating, delivering, and exchanging solely for the benefit of the organization’s employees.

d.        the activity for selling a product or service at the highest possible price.

e.         the activities of advertising, promoting, and selling products to the greatest number of profitable customers.

All of the following are true about marketing EXCEPT:

a.         Marketing is a broader activity than advertising.

b.        Marketing stresses the importance of delivering genuine benefits in the offerings of goods, services, and ideas sold to customers.

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.

An organization’s stockholders, its suppliers, its employees, its customers, and society at large all share what in common with regard to an organization?

a.         All are stakeholders and should benefit from the marketing of an organization’s offering.

b.        Everyone has a say in the ultimate design of a product.

c.         Everyone is legally culpable if something goes wrong with a product.

d.        All have to make some type of direct financial investment in the organization so it can profitably sell its products.

e.         All use the products and/or services marketed by the organization.

Which of the following statements about stakeholders is MOST ACCURATE?

a.         Ultimately, the only relevant stakeholder is the ultimate consumer.

b.        The suppliers, shareholders, employees, and customers are all stakeholders of an organization and all should benefit from the organization’s marketing activities.

c.         Employees can be stakeholders only if they own shares in their company.

d.        Suppliers are the most important stakeholders because without them, products could never be produced.

e.         The only way to be a stakeholder is to have a financial investment in an organization’s product, service, or idea.

Mizuno designs and sells high quality baseball gloves.  Who does NOT benefit from the firm’s marketing activities for its gloves?

a.         a baseball or softball player who purchases a new Mizuno glove

b.        the Sports Authority salesperson who sells a customer a Mizuno glove

c.         the supplier who provided the leather to Mizuno

d.        the shareholder of Mizuno that designs and manufactures the gloves

e.         all stakeholders should be benefit from Mizuno’s marketing efforts, even society at large

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

a.         change

b.        create

c.         manipulate

d.        discover

e.         measure

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

a.         change

b.        satisfy

c.         create

d.        manipulate

e.         preserve

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

a.         a prospective customer.

b.        a dual-purpose marketing decision maker.

c.         a potential distributor.

d.        an informed buyer.

e.         an end-user.

A 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 Apple iPhone, which statement is MOST ACCURATE?

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 smartphone.

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.         Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones.

The Terrafugia Transition (see the photo above) is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000.  The MOST LIKELY prospective customers for this flying car would include

a.         students who attend college at least 500 miles away from home.

b.        retired seniors receiving social security.

c.         executives for whom time is extremely important.

d.        teens who like to try new things.

e.         families in need of a second vehicle.

In marketing, the idea of exchange refers to

a.         the negotiation phase between the manufacturer and the seller.

b.        the financial remuneration (monetary payment) for a product or service.

c.         the trade of things of value between buyer and seller so that each is better off after the trade.

d.        the bartering of products and services between non-governmental organizations or individuals.

e.         the practice of swapping products and services for other products and services rather than for money.

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

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 transport of tangible goods to new owners.

e.         the practice of swapping products and services for other products and services rather than for money.

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.

a.         financial remuneration

b.        exchange

c.         countertrade

d.        barter

e.         marketing

The American Red Cross created a series of advertisements to encourage people to donate blood.  After viewing an ad, Amanda went to the local Red Cross office and donated a pint of her blood.  Amanda returned home feeling happy that she had performed a good deed.  Did an exchange occur in a marketing sense?

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.

A 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?

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.

A local college of business offers an outstanding graduate business school education program.  Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management.  Upon graduating, she is offered a high paying, fulfilling position.  Was this a marketing exchange?

a.         No, because the university earned a profit from Marissa’s tuition.

b.        No, because money was exchanged in the form of tuition and Marissa’s income will come from her employer, not the graduate school.

c.         No, because the school did not provide Marissa with a tangible product, only the potential of an education.

d.        Yes, because the university promised Marissa she would graduate on time, and she did.

e.         Yes, because paying tuition was exchanged for knowledge that directly led to Marissa’s high paying, fulfilling new job.

In Figure 1-2 above, “A” represents an organization’s alliances with

a.         suppliers.

b.        customers.

c.         shareholders.

d.        other departments.

e.         other organizations.

In Figure 1-2 above, “B” represents an organization’s partnerships with

a.         other organizations.

b.        suppliers.

c.         shareholders.

d.        customers.

e.         other departments.

In Figure 1-2 above, “C” represents an organization’s ownership with

a.         other organizations.

b.        suppliers.

c.         customers.

d.        other departments.

e.         shareholders.

In Figure 1-2 above, “D” represents an organization’s relationships with

a.         other organizations.

b.        suppliers.

c.         shareholders.

d.        customers.

e.         other departments.

In Figure 1-2 above, the center ring “E” in an organization consists of __________, which oversees the departments surrounding it.

a.         marketing.

b.        manufacturing.

c.         human resources.

d.        senior management.

e.         finance.

Which of the following statements about marketing activities is MOST ACCURATE?

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 an organization’s 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 is essentially developing the right product and convincing potential customers that they “need” it, not just “want” it.

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

a.         finance.

b.        manufacturing.

c.         information systems.

d.        human resources.

e.         suppliers.

The __________ department of an organization is responsible for facilitating relationships, partnerships, and alliances with the organization’s customers, shareholders, suppliers, and other organizations.

a.         purchasing

b.        marketing

c.         human resources

d.        accounting

e.         information systems

The marketing department of an organization is responsible for facilitating __________.

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 non-competitive products that target similar markets

e.         the coordination between the various departments within the entire firm

Which of the following statements about marketing departments is MOST ACCURATE?

a.         The marketing department should work solely with people within its own department.

b.        The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces.

c.         The marketing department is only responsible for the 4 Ps, not the 7 Ps.

d.        The marketing department is only responsible for market research, supervision of product development, and product promotion.

e.         The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.

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

a.         economic

b.        geographical

c.         social

d.        regulatory

e.         technological

Which of the following is NOT an environmental force?

a.         economic

b.        regulatory

c.         social

d.        commercial

e.         technological

Which of the following statements about marketing activities is MOST ACCURATE?

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.”

All of the following are factors required for marketing to occur EXCEPT:

a.         a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied.

b.        something to exchange between two or more parties (individuals or organizations).

c.         two or more parties (individuals or organizations) with the same wants.

d.        two or more parties (individuals or organizations) with unsatisfied needs.

e.         a way for the parties (individuals or organizations) to communicate.

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability of parties to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

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.         two or more parties (individuals or organizations) with unsatisfied needs

Four 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.

a.         a healthy competitive environment

b.        government approval

c.         an affordable and actionable advertising campaign

d.        a desire and ability on their part to be satisfied

e.         an ability to see hidden potential within an environmental force

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

a.         a way for the parties to communicate

b.        a healthy competitive environment

c.         an affordable and actionable advertising campaign

d.        a sense of social responsibility

e.         an ability to see hidden potential within an environmental force

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) __________.

a.         an affordable and actionable advertising campaign

b.        something to exchange

c.         a healthy competitive environment

d.        government approval

e.         an ability to see hidden potential within an environmental force

Which of the following conditions are necessary for marketing to occur?

a.         two or more people, a method of assessing needs, a way to communicate, and an exchange

b.        two or more people, a product, a reasonable price, and a place to make an exchange

c.         a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product

d.        two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange

e.         an ability to see a hidden trend within an environmental force, a product, and an affordable and actionable advertising campaign

A 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.  To ensure that marketing occurs with her, he should

a.         buy a GMAT study guide at his college bookstore.

b.        find out what the minimum score he needs to get into the graduate business school of his choice.

c.         attempt to find the tutor by conducting a Google search for her website, looking for flyers in the students’ business lounge, obtaining copies of the college newspaper paper and looking for her ad, or asking his friends whether they know of her and her tutoring services.

d.        consider alternatives to graduate school in case the scores he receives by taking the test without any help are not sufficient admission.

e.         apply for delayed admission if he can’t find this tutor.

For marketing to occur, there must be two or more parties with unsatisfied needs.  Dr. Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.  The most likely “second” party needed for marketing to occur would be

a.         people who are nostalgic about childhood lemonade stands they had during hot summers.

b.        people with a desire for a beverage other than soda or water.

c.         product demonstrators who offer samples of Country Time lemonade to shoppers at local supermarkets.

d.        a local distributor of alcoholic beverages.

e.         a nutritionist promoting the benefits of fresh fruit in people’s diets.

A student would like to buy cross-over SUV from a local dealer, but she thinks the payments will be too high.  Marketing does not occur in this situation because

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.

A 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, he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000) and feels he just has to have one for himself.  What factor is MOST LIKELY to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?

a.         The local Lexus dealer only has one Lexus LFA sports coupe in stock—red, which is the color he wants.

b.        The student does not have the resources to qualify for a $375,000 auto loan.

c.         Although the Lexus LFA sports coupe 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.

A 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 __________.

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.         there is only one party involved in this situation

The Arizona Biltmore in Phoenix is a resort hotel located less than a mile away from the Biltmore Fashion Park, a large upscale shopping mall.  The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states.  Which of the following marketing actions would MOST LIKELY help The Arizona Biltmore communicate with potential convention attendees?

a.         Place an ad in the in-flight magazines of all the major airlines targeting business/first class flyers.

b.        Send a mass mailing to all local businesses.

c.         Set up information kiosks at several locations within the Biltmore Fashion Park.

d.        Offer free made-to-order breakfasts for guests staying at the hotel on business.

e.         Offer special discount rates to guests coming from the East Coast.

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch.  He doesn’t know how to find a dealer though, and doesn’t have Internet access.  Which of the following reasons explain why marketing fails to occur here?

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.

Suppose you want a snack after taking this exam—a Pan Pizza from Dominos, which is located across the street from your College of Business classroom.  Unfortunately, you forgot your wallet in the haste of getting to class on time to take the test.  Therefore, you have no means to pay for the pizza.  Which of the following reasons explain why marketing fails to occur here between you and Dominos?

a.         There are not two or more parties with unsatisfied needs.

b.        The ability to satisfy a need is missing.

c.         A desire to satisfy a need is missing.

d.        No assessments of consumer wants and needs have been made.

e.         There is no way for the parties involved to communicate.

The two central concerns of marketing are __________.

a.         increasing market share and making profits

b.        holding down costs while increasing profits

c.         developing products and finding suppliers

d.        discovering and satisfying consumer needs

e.         practicing ethics and sustainability

The first objective in marketing is to discover consumers’ __________.

a.         diversity of opinion to create advertising messages

b.        income to determine the most lucrative price point for a product

c.         lifetime value of an offering to the organization

d.        characteristics that would be useful to segment markets

e.         needs to create products that could satisfy them

Marketing discovers consumer needs by

a.         implementing a marketing program.

b.        conducting effective marketing research.

c.         balancing the marketing mix elements—the 4 Ps of the marketing program.

d.        advertising to diverse groups of prospective buyers.

e.         copying the products and services of competitors.

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually “don’t succeed in the long run.”

a.         33

b.        50

c.         67

d.        75

e.         94

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

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.

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

a.         Anticipate the future five years out in terms of product form, ingredients, and packaging—to invent the “toothpaste of tomorrow!”

b.        Give the product a mysterious name that is unrelated the product’s benefits but provokes consumer curiosity.

c.         Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay.

d.        Create unusual packaging that has special shelving requirements.

e.         Study past toothpaste product failures and learn from them.

A factor that might doom a product in the marketplace is referred to as a(n) __________.

a.         albatross

b.        land mine

c.         pit fall

d.        showstopper

e.         wild card

Showstoppers refer to

a.         creative or innovative members of a marketing team.

b.        unexpected alternative uses for a product that result in a sudden increase in sales.

c.         factors that might doom a product in the marketplace.

d.        a sudden loss of financial backing even though the item is in production.

e.         a situation when a competitor’s product suddenly beats a firm’s new product to the marketplace.

Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?

a.         Terrafugia Transition

b.        Pepsi Next

c.         Bell bicycle helmet

d.        3M Post-it Flag+ Highlighter

e.         Dr. Care toothpaste

The Terrafugia Transition (see the photo above) is a flying car with an anticipated price of $279,000.  A potential showstopper for this product is likely to be

a.         concern about damage caused in a small on-road fender bender might make it dangerous to fly.

b.        a lack of marketing towards retired seniors.

c.         the efficiency of commuting for corporate executives.

d.        the availability of flight instruction for licensed drivers.

e.         a very poor product warranty.

Pepsi Next (see the photo above) is a “mid-calorie soft drink targeted at consumers who want both taste and low calories.  A potential showstopper for this product is likely to be its

a.         lack of advertising on television.

b.        association with similar mid-/low-calorie soft drinks that have failed in the recent past, such as Pepsi Edge and Coca Cola C2.

c.         lower profit margin due the added costs of three artificial sweetener ingredients.

d.        cannibalization of Diet Pepsi, which has a much larger market share.

e.         use of sucrose instead of high fructose corn sugar, which tastes more like sugar.

A __________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

a.         desire

b.        need

c.         utility

d.        want

e.         craving

A need refers to

a.         a sense of personal inadequacy based upon observations by others around you.

b.        a sense of urgency, which causes a person to take action.

c.         a feeling that is shaped by a person’s knowledge, culture, or personality.

d.        a feeling of being deprived of something, but not fully understanding what it may be.

e.         a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.

All of the following are examples of products or services that satisfy a consumer need EXCEPT:

a.         a pair of jeans.

b.        an apple.

c.         a student dormitory.

d.        a sports car.

e.         a jacket.

A __________ is a need that is shaped by a person’s knowledge, culture, and personality.

a.         desire

b.        feeling

c.         utility

d.        want

e.         craving

A want refers to

a.         a sense of personal inadequacy based upon observations by others around you.

b.        a powerful desire that causes a person to take action.

c.         a need that is shaped by a person’s knowledge, culture, or personality.

d.        a feeling of being deprived of something, but not fully understanding what it may be.

e.         a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.

Which of the following statements best distinguishes between consumer needs and wants?

a.         Needs are far more influential than wants with respect to marketing decision making.

b.        Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.

c.         Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person’s knowledge, culture, or personality.

d.        Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person’s knowledge, culture, or personality.

e.         Needs and wants are psychologically the same.

A television advertisement shows several teenagers searching through the refrigerator for something to satisfy their hunger.  The refrigerator offers the teenagers many alternatives—celery, bologna, cottage cheese, and box of Hot Pockets Bacon Cheddar Cheese Melt sandwiches (see the photo above).  The ad, which shows the teens happily selecting the Hot Pockets sandwiches, appeals to the consumers’ __________ for sustenance to satisfy their hunger and attempts to shape their __________ for the advertised product.

a.         needs; wants

b.        wants; needs

c.         wants; cravings

d.        cravings; needs

e.         needs; preferences

In Figure 1-3 above, “A” represents __________ and “B” represents __________.

a.         decisions by management; purchases by customers

b.        employees efforts; stakeholder rewards

c.         sales department; manufacturing department

d.        suppliers; distributors

e.         discovering consumer needs; satisfying consumer needs

In Figure 1-3 above, “B” is accomplished by __________.

a.         designing a marketing program

b.        conducting marketing research

c.         discovering consumer needs

d.        developing a distribution strategy

e.         identifying target markets

People with both the desire and ability to buy a specific offering are referred to as [a(n)] __________.

a.         shoppers

b.        customer base

c.         market

d.        bazaar

e.         emporium

In a marketing context, a market refers to

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.

All markets ultimately are composed of __________.

a.         people

b.        brands

c.         products

d.        organizations

e.         governments

The most likely market for cosmetic dentistry, where costs can be as much as $15,000 for teeth straightening and whitening, is

a.         toddlers with crooked baby teeth, when crooked teeth run in the family.

b.        all former smokers who have been smoke free for at least one year.

c.         anyone who has the time, the money, and the desire to undergo the procedures.

d.        anyone who has dental insurance.

e.         adults who want to make a good first impression for a job interview.

A target market refers to

a.         people who could purchase a product regardless of who ultimately uses it.

b.        one or more specific groups of potential consumers toward which an organization directs its marketing program.

c.         former customers who now use competitors’ products.

d.        the cluster of benefits that an organization develops to satisfy consumers’ needs.

e.         people with both the desire and the ability to buy a specific offering.

A target market refers to

a.         customers who have already purchased a firm’s product at least once, have been satisfied, and are likely to be repeat purchasers.

b.        both existing and potential customers who have used a competitor’s product, are dissatisfied, and who now seek a different product or service to satisfy their needs.

c.         a specific group of current consumers toward which an organization directs its advertising.

d.        one or more specific groups of potential consumers who are seeking a product for which there are no current substitutes.

e.         one or more specific groups of potential consumers toward which an organization directs its marketing program.

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

a.         mass market.

b.        tangential market.

c.         potential market.

d.        target market.

e.         promotional market.

Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese.  Other items in the product line contain small bottles of Chiquita Strawberry Banana Fruit smoothie, Capri-Sun juice, or Kool-Aid.  The box is bright yellow and the quantity of food contained within it is small.  The target market for Kraft Lunchables is MOST LIKELY:

a.         moms with school-age children who pack a simple healthy lunch for them.

b.        business people looking for a fulfilling breakfast at the office.

c.         business travelers on the run.

d.        teenagers who are hungry for an after-school snack.

e.         baby boomers who are trying to lose weight.

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

a.         all people with an interest in professional football

b.        all people in the Midwest who have an interest in sports

c.         all men who played on a varsity football team in high school

d.        all people in the Indianapolis and surrounding areas interested in football

e.         all people in Indiana who watch football on TV

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

a.         single adults

b.        school kitchens

c.         campers

d.        senior citizens

e.         vending machine owners

TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops.  Which of the following groups of people would be the MOST LIKELY target market for TUMI brand briefcases?

a.         police officers

b.        executives

c.         construction workers

d.        postal workers

e.         students

The United States Army recently has been both praised and criticized for its use of a popular video game, America’s Army, which is designed to reach potential recruits.  The game’s creator, Colonel Casey Wardynski, wanted to provide a sense of the training and teamwork one could find in the Army’s military environment.  The game is designed for “boys 14 years or older,” which represent the Army’s __________.

a.         mass market

b.        actual recruits

c.         restricted market

d.        target market

e.         untapped market

A local university offers business courses for a specific target market composed of people who currently work and want to take refresher courses to obtain certification in their chosen business field (marketing, accounting, etc.).  Which of the following would be the most effective way to communicate with the target market, bearing in mind that communication must be both effective and economical?

a.         put announcements on campus bulletin boards

b.        distribute promotional materials during classes

c.         advertise on national television

d.        advertise on local hip-hop radio shows

e.         advertise in the local newspaper

The four Ps are commonly known as

a.         the environmental or uncontrollable forces.

b.        the environmental or controllable factors.

c.         the marketing mix or controllable factors.

d.        the marketing mix or uncontrollable forces.

e.         predict, produce, package, and persuade.

The marketing manager’s controllable factors—product, price, promotion, and place—that can be used to solve a marketing problem are referred to as (the) __________.

a.         marketing concept

b.        marketing mix

c.         marketing program

d.        environmental forces

e.         marketing toolbox

The marketing mix refers to

a.         the selection of product benefits and attributes that are to be added to or subtracted from a given product to create variations within a product line.

b.        the specific ratio within a budget that divides resources between advertising, sales promotion, and personal selling.

c.         the marketing manager’s controllable factors—product, price, promotion, and place—that can be used to solve a marketing problem.

d.        the allocation of resources within a firm towards individual marketing programs.

e.         the environmental forces—social, economic, technological, competitive, and regulatory—that impact the marketing decisions for a particular product at any given time.

The marketing mix refers to

a.         the multiple sales and advertising strategies that can be used to promote a product.

b.        the controllable forces—social, economic, technological, competitive, and regulatory—to which a marketing manager must constantly adapt.

c.         the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.

d.        the marketing manager’s controllable factors that can be used to solve marketing problems.

e.         a set of complementary products that when sold together generate more sales than when sold separately.

Which of the following would a marketer use as a synonym for controllable marketing mix factors?

a.         the four Ps of marketing

b.        environmental forces

c.         macromarketing forces

d.        marketing management factors

e.         micromarketing factors

The four Ps of the marketing mix are

a.         priorities, personnel, placement, and profits.

b.        prediction, production, pricing, and promotion.

c.         product, price, production, and place.

d.        product, price, promotion, and place.

e.         predict, produce, package, and persuade.

All of the following constitute the “4 Ps” of the marketing mix EXCEPT:

a.         promotion.

b.        profitability.

c.         price.

d.        place.

e.         product.

The four Ps are commonly known as

a.         the environmental or uncontrollable forces.

b.        the environmental or controllable factors.

c.         the marketing mix or controllable factors.

d.        the marketing mix or uncontrollable forces.

e.         predict, produce, package, and persuade.

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

a.         uncontrollable forces

b.        profitability factors

c.         stakeholder value generators

d.        target market segments

e.         controllable factors

Jakubowski Farms Gourmet Bread Base is the brand name for a mix designed for use in bread making machines.  The mixes are sold in 2-pound canisters for $14.99 plus postage.  The products are only available through the mail.  People learn about the product through word-of-mouth and bread machine demonstrations the company’s founder gives to groups in Wisconsin where she lives.  This is a description of the company’s

a.         action plan.

b.        market segmentation strategy.

c.         mission statement.

d.        marketing mix.

e.         target market.

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

a.         a product.

b.        the price.

c.         promotion.

d.        the place or distribution.

e.         a market segment.

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

a.         process

b.        price

c.         product

d.        place

e.         people

The element of the marketing mix that describes what is exchanged for a product is known as

a.         a product.

b.        the price.

c.         promotion.

d.        the place or distribution.

e.         productivity.

Which element of the marketing mix is demonstrated when Mars, Inc. has a sale on M&MS^® brand candies?

a.         product

b.        price

c.         promotion

d.        place

e.         production

The element of the marketing mix demonstrated when an art gallery suggests a $2.00 donation at the door is __________.

a.         philanthropy

b.        place

c.         product

d.        promotion

e.         price

To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door.  This statement is most closely related to the __________ element of the marketing mix.

a.         product

b.        philanthropy

c.         price

d.        place

e.         promotion

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

a.         a product.

b.        promotion.

c.         the price.

d.        the place or distribution.

e.         advertising.

The 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.

a.         product

b.        price

c.         production

d.        promotion

e.         place

The __________ element of the marketing mix is demonstrated when a company places an ad in the Yellow Pages.

a.         product

b.        price

c.         promotion

d.        place

e.         process

When a company places an ad on Google, the action is a tactic of the __________ element of the marketing mix.

a.         product

b.        price

c.         promotion

d.        place

e.         process

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

a.         a product.

b.        the price.

c.         promotion.

d.        the place or distribution.

e.         transportation.

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

a.         place

b.        product

c.         price

d.        promotion

e.         procurement

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

a.         product

b.        price

c.         promotion

d.        place

e.         process

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a(n) __________.

a.         core benefit proposal

b.        product protocol

c.         marketing program

d.        marketing mix

e.         customer value proposition

A customer value proposition is

a.         the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.

b.        a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers.

c.         a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.

d.        the characteristics of a product that make it superior to competitive substitutes.

e.         the cluster of benefits that an organization promises customers to satisfy their needs.

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

a.         customer value proposition

b.        protocol

c.         mission statement

d.        core values

e.         marketing program

The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as __________.

a.         the 5 Fs of marketing

b.        environmental forces

c.         business conditions

d.        a marketing ecosystem

e.         a business sphere

Which of the following is NOT an environmental force?

a.         technological

b.        regulatory

c.         ecological

d.        competitive

e.         economic

Environmental forces refer to

a.         the internal strengths of a company that enable the firm to remain competitive.

b.        the marketing manager’s uncontrollable factors—product, price, promotion, and place—that can be used to solve marketing problems.

c.         the unpredictable or uncontrollable availability of natural resources that can enhance or restrain a company’s growth.

d.        the marketing manager’s uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces.

e.        the marketing manager’s controllable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces.

The five major environmental forces in a marketing decision are

a.         climate change, natural resources, pollution, natural disasters, and global conflict (war).

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.

Which of the following statements about environmental forces is MOST ACCURATE?

a.         Environmental forces are almost always controllable if the marketing department correctly scans them.

b.        An organization that incorporates the marketing concept can exert just as much influence on environmental forces as they can exert on that organization.

c.         Environmental forces consistently result in negative outcomes for an organization.

d.        Some environmental forces can actually enhance a firm’s marketing opportunities.

e.         Environmental forces can almost always be predicted.

Which of the following statements describes an environmental force?

a.         Several states have legislation that requires people transporting children to use age- and height-appropriate car seats.

b.        Tupperware has more than 200,000 independent dealers who market its entire product line.

c.         A car battery comes with a lifetime guarantee.

d.        An automobile dealer offers a $500 rebate during the month of July.

e.         A major bottler offers a 10-cent refund on returnable bottles.

Local newspaper readership has declined significantly in recent years.  Not only are traditional newspapers losing subscribers, they are also losing advertisers.  To combat these trends, many newspaper publishers now offer online versions of their printed newspapers.  This is MOST LIKELY a response to which environmental force?

a.         economic, since few can afford a newspaper today

b.        competitive, resulting from new, smaller local newspapers that are flourishing

c.         technological, since high-speed printing presses have become more easy to use

d.        social, resulting from changing consumer preferences for information delivered online

e.         regulatory, since the government provides tax incentives for paper-based products

A growing trend to “Buy American” has caused U.S. automakers to increase political pressure on Washington to pass legislation for more restrictive quotas on Japanese car imports.  In addition, a decline in the value of the U.S. dollar would be instrumental in Toyota’s decision to build a manufacturing plant in the United States instead of continuing to export cars from Japan.  If Toyota builds the plant, its decision would reflect

a.         a reactive strategy that would impact the competitive environmental force.

b.        a proactive maneuver to manipulate and impact the social environmental force.

c.         a positive result from regulatory and economic environmental forces.

d.        a positive response to a technological environmental force.

e.         a negative impact as a result of adverse competitive, regulatory, and technological environmental forces.

Many 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?

a.         social

b.        economic

c.         technological

d.        competitive

e.         regulatory

With today’s smartphones, one can watch the news, shoot videos, browse the Internet, take pictures, and listen to music.  Improved new features are added with each smartphone introduced by Apple, Samsung, BlackBerry, and the like.  As a result, existing customers often want to replace their existing smartphones with new models or brands every two years when their contracts expire.  This increase in demand is due mostly to changes in __________, an environmental force.

a.         competition

b.        social culture

c.         technology

d.        regulations

e.         the economy

Pending federal legislation will require all online retailers to collect state sales taxes from customers.  This would affect online sellers such as Virtual Vineyards, which now only collects state sales taxes from customers who reside in California—its home state.  This pending legislation would be an example of which environmental force?

a.         social

b.        economic

c.         technological

d.        competitive

e.         regulatory

The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price is called

a.         customer value.

b.        target marketing.

c.         benefit proposition.

d.        value-based marketing.

e.         a customer value proposition.

Customer value refers to

a.         the need of  a customer to receive the highest quality product at the lowest possible price.

b.        the least expensive product that will provide it with most of the basic benefits.

c.         a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers.

d.        the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.

e.         the cluster of benefits that an organization promises customers to satisfy their needs.

Which of the following statements about customer value is MOST ACCURATE?

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.         To create value for targeted buyers, firms must build long-term relationships with them.

As shown in the ad above, Target has been successful by offering consumers the best

a.         experience.

b.        products/services.

c.         customer service.

d.        availability.

e.         price.

According to the textbook, Starbucks provides its customers with the best

a.         branding.

b.        products/services.

c.         price.

d.        customer service.

e.         availability.

What customer value strategy does Starbucks Coffee Company deliver to its customers when it offers them its Starbucks Via Ready Brew Refreshers?

a.         best product/service

b.        best customer service

c.         best value

d.        best assortment

e.         best price

According to the textbook, U.S. Bank delivers customer value by providing its customers with the best

a.         assortment.

b.        products/services.

c.         price.

d.        customer service.

e.         availability.

As shown in the ad above, U.S. Bank delivers customer value by providing its customers with the best

a.         assortment.

b.        products/services.

c.         price.

d.        customer service.

e.         availability.

Those who have flown on Singapore Air have experienced firsthand the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating.  Singapore Air creates customer value by providing its customers with

a.         the best airport experience.

b.        the most convenient flight schedules.

c.         the best price for the distance traveled.

d.        the best in-flight service.

e.         the greatest sense of personal safety.

Relationship marketing refers to

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.

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

a.         relationship marketing.

b.        exclusive dealing.

c.         loyalty marketing.

d.        customer relationship management.

e.         symbiotic marketing.

Which of the following statements about relationship marketing is MOST ACCURATE?

a.         Relationship marketing has a short-term focus: increasing profits for the firm.

b.        Relationship marketing begins before and ends after the sale.

c.         Relationship marketing occurs when there is a personal, ongoing relationship between an organization and its customers.

d.        Very few companies today are engaged in relationship marketing.

e.         The Internet has allowed marketers to establish more personal relationships with customers.

In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s.  A company called Tessitura is trying to change that.  Tessitura is able to track every transaction with its patrons in one database.  The information collected includes ticket purchases, fund-raising, volunteering, and gift shop purchases that will help symphonies, operas, and theaters develop customer profiles in order to tailor their sales messages to specific individuals.  In other words, Tessitura will allow arts groups to engage in

a.         market aggregation.

b.        relationship marketing.

c.         societal marketing.

d.        market mining.

e.         mainstream marketing.

Publix Supermarkets and The Little Clinic signed an exclusive agreement, placing small walk-in health clinics inside selected stores.  Publix customers can have simple medical needs addressed in a convenient and familiar environment seven days a week and pick up their prescriptions from the pharmacy without leaving the store.  This is an example of

a.         supplier management.

b.        customer valuation.

c.         societal marketing.

d.        market aggregation.

e.         relationship marketing.

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel.  Once he has accumulated enough points, he can trade his points in for a free night’s stay.  As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points.  The marketing term that best describes this scenario is

a.         relationship marketing.

b.        customer satisfaction promotion.

c.         customer relationship management.

d.        customer valuation.

e.         supplier-consumer partnership.

A marketing program refers to

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.

A __________ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.

a.         marketing strategy

b.        marketing program

c.         macromarketing tactic

d.        micromarketing tactic

e.         customer relationship management

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.  The concepts must then be converted into a tangible

a.         marketing strategy.

b.        macromarketing agenda.

c.         micromarketing agenda.

d.        marketing program.

e.         marketing concept.

Market segments refer to

a.         the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.

b.        all buyers of a product or service who have previously purchased a particular firm’s products or services and who intend to repeat that purchase sometime in the future.

c.         the smallest number of buyers that have similar needs but do not react similarly in a buying situation.

d.        the relatively homogenous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action.

e.         all potential buyers of a product or service who intend to purchase a firm’s products or services but who have not yet done so.

The relatively homogenous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action is referred to as a(n) __________.

a.         market segment

b.        target market

c.         customer base

d.        ultimate consumer

e.         preferred customer

The phrase “relatively homogeneous collections of prospective buyers” is most descriptive of

a.         demographic clusters.

b.        organizational buyers.

c.         ultimate consumers.

d.        market segments.

e.         qualified prospects.

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

a.         market segment

b.        demographic cluster

c.         organizational buyer group

d.        ultimate consumer group

e.         qualified prospect group

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

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.

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

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.

Which of the following statements about 3M’s marketing program for Post-it^® Flag Highlighters is MOST ACCURATE?

a.         In his first attempt, David Windorski, a 3M inventor, designed the Post-it^® Flag Highlighter in exactly the right way to appeal to its target market.

b.        Paralegals were initially the intended target market for the Post-it^® Flag Highlighter.

c.         David Windorski, a 3M inventor, also developed the Post-it^® Flag Pen for the office worker segment.

d.        The Post-it^® Flag Highlighter was not successful and was deleted from the Post-it^® Flag product line.

e.         In his development of the Post-it^® Flag Highlighter, David Windorski examined similar products of 3M’s major competitors and simply made changes that would provide the “WOW” factor.

3M’s pricing strategy for its Post-it^® Flag Highlighters was as follows:

a.         match its principal competitors’ highlighters’ prices.

b.        charge a price that would give a reasonable bookstore price to students and an acceptable profit to distributors and 3M.

c.         set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated.

d.        make the product easier to purchase by placing the Post-it^® Flag Highlighter in discount office supply retailers.

e.         use the same pricing strategy as its 3M’s Post-it^® Flag and Post-it^® Note offerings.

3M’s Post-it^® Flag Highlighter and Pen marketing programs were designed for what primary objective?

a.         the initial introduction of two new 3M products

b.        specific promotions to be used for long-range strategies

c.         segmenting the market into twelve specific target market segments

d.        marketing 3M products to foreign markets

e.         positioning the products relative to major competitors

3M’s place strategy in its marketing program made it convenient for __________ to buy Post-it^® Flag Highlighters and Post-it^® Flag Pens.

a.         external salespeople only

b.        college students only

c.         office workers only

d.        college students and office workers

e.         teachers only

Based on the marketing program 3M developed for its Post-it^® Flag Highlighters and Post-it^® Flag Pens, one can conclude that

a.         the market segments for Post-it^® Flag Highlighters and Post-it^® Flag Pens are identical.

b.        the target market segments for Post-it^® Flag Highlighters and Post-it^® Flag Pens are not realistic.

c.         the Post-it^® Flag Highlighters and Post-it^® Flag Pens are priced unfairly for its target markets.

d.        the prices for 3M’s Post-it^® Flag Highlighters and Post-it^® Flag Pens are set to maximize 3M’s profits, not its distributors’ profits.

e.         the promotion strategy is designed to increase awareness among potential users.

All of the following statements about the overall marketing program for 3M’s Post-it^® Flag Highlighters are true EXCEPT:

a.         David Windorski, a 3M inventor, designed the second generation of Post-it^® Flag Highlighters and Pens without the rotating cover to make it easier to insert replacement flags.

b.        Office workers were initially the intended target market for the Post-it^® Flag Highlighter.

c.         In his first attempt, David Windorski, a 3M inventor, designed the Post-it^® Flag Highlighter in exactly the right way to appeal to its target market.

d.        David Windorski, the designer of the Post-it^® Flag Highlighter, appeared on The Oprah Winfrey show so she could thank him in person for “his most incredible invention.”

e.         Recently, 3M introduced additions to the Post-it^® Flag+ Highlighter line: a Post-it^® Flag+ Gel Pen and a Post-it^® Flag+ Permanent Marker.

With respect to the history of American business, the __________ era covered the early years of the United States up until the 1920s.

a.         production

b.        sales

c.         marketing concept

d.        customer relationship

e.         market orientation

If you wanted a new pair of shoes during the Civil War, you traced the outline of your foot on a piece of paper and gave it to a shoemaker.  There was no distinction between the right and left foot because you wanted your shoes as quickly as possible, and the shoemaker knew that you would buy them even if they just “sort of” fit.  This is an example of a transaction that would have occurred during the __________ era in U.S. business history.

a.         marketing concept

b.        sales

c.         production

d.        societal marketing concept

e.         market orientation

With respect to the history of American business, the __________ era covered the years from the 1920s to the 1960s.

a.         production

b.        sales

c.         marketing concept

d.        customer relationship

e.         market orientation

The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new markets and customers is referred to as the __________ era.

a.         sales

b.        marketing concept

c.         production

d.        goods

e.         market orientation

In the 19^th century, the belief was that production creates its own demand.  By the early 20^th century, American companies began to produce more goods than buyers could consume.  At the same time, competition became more significant.  The usual solution was to hire more salespeople to find new buyers.  This describes the __________ era.

a.         goods

b.        production

c.         sales

d.        marketing concept

e.         market orientation

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.

a.         marketing concept

b.        production

c.         goods

d.        sales

e.         societal marketing concept

In the movie Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners in 1963.  Their job was difficult, in part, because the supply of aluminum siding surpassed the demand for the product and competition was intense.  This situation is indicative of the __________ era of U.S. business history.

a.         goods

b.        sales

c.         production

d.        market orientation

e.         societal marketing

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?

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.”

In U.S. business history, the marketing concept era began in __________.

a.         the early years of the Civil War

b.        the 1920s

c.         the late 1950s

d.        the mid-1980s

e.         the first few years of the 21^st century

With respect to the history of American business, the __________ era began in the late 1950s when marketing became the motivating force among many firms.

a.         production

b.        sales

c.         customer relationship

d.        market orientation

e.         marketing concept

The American business period that strove to satisfy consumer needs while achieving an organization’s goals is called the __________ era.

a.         marketing concept

b.        sales

c.         production

d.        societal marketing concept

e.         customer relationship

With respect to the history of American business, the __________ era immediately followed the sales era.

a.         production

b.        promotion

c.         customer relationship

d.        market orientation

e.         marketing concept

Which era of U.S. business history does the following statement best describe?  “We are in the business of satisfying the needs and wants of consumers while achieving our own goals.”

a.         the production era

b.        the sales era

c.         the marketing concept era

d.        the marketing orientation era

e.         the societal marketing era

Insisting upon a market orientation within one’s firm first occurred during which era in U.S. business history?

a.         the production era

b.        the sales era

c.         the reduction era

d.        the marketing concept era

e.         the societal marketing era

Which of the following statements about the marketing concept era is MOST ACCURATE?

a.         The marketing concept era can trace its roots to early Greek culture.

b.        During the marketing concept era, companies tried to satisfy the needs of consumers while also achieving their goals.

c.         During the marketing concept era, companies began to implement the idea of a marketing program.

d.        During the marketing concept era, companies believed you could produce as much as you wanted because the product would sell itself.

e.         All U.S. firms are now operating with a marketing concept era philosophy.

Which of the following terms best describes the marketing concept era?

a.         consumer-oriented

b.        production-oriented

c.         sales-oriented

d.        society-oriented

e.         competition-oriented

The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals reflects the

a.         concept of synergy.

b.        marketing concept.

c.         principle of customer relationship management.

d.        societal marketing concept.

e.         consumerism concept.

The marketing concept refers to

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.

In 1952, General Electric’s annual report stated, “The concept introduces…marketing…at the beginning rather than the end of the production cycle and integrates marketing into each phase of the business.”  This is a brief statement of what has come to be known as the

a.         sustainability perspective.

b.        age of consumerism.

c.         sales concept.

d.        marketing concept.

e.         customer relationship management concept.

Firms such as General Electric, Marriott, and Facebook have achieved great success by putting a huge effort into implementing the marketing concept, giving their firms a

a.         production orientation.

b.        sales orientation.

c.         customer relationship orientation.

d.        service orientation.

e.         market orientation.

Many companies subscribe to being “green” because they feel that consumers value this.  Yet, in many of these same firms, office computers are left on 24 hours a day and office paper is not recycled.  This example indicates it is not always easy for firms to act in accordance with the

a.         marketing concept.

b.        customer relationship management concept.

c.         consumerism.

d.        social entrepreneurship.

e.         cause marketing.

A market orientation refers to

a.         the orientation of an organization that focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value.

b.        the orientation of an organization that focuses 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 belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change.

d.        the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus.

e.         the point of view that holds that there is always someone who needs or can benefit from your product, and if one segment fails, there is an even better one somewhere in the “market.”

An organization with a market orientation

a.         focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value.

b.        identifies prospective buyers, understands them intimately, and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace.

c.         strives to satisfy the needs of consumers while also trying to achieve its goals.

d.        satisfies the needs of consumers in a way that provides for society’s well being.

e.         focuses its efforts on: (1) continuously collecting information about customers’ needs; (2) sharing this information across departments; and (3) using it to create customer value.

An organization that focuses its efforts on (1) continuously collecting information about customers’ needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a

a.         product orientation.

b.        customer orientation.

c.         market orientation.

d.        industry orientation.

e.         societal orientation.

An organization that focuses its efforts on (1) continuously collecting information about customers’ needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a

a.         societal marketing concept.

b.        focus on macromarketing.

c.         nonprofit orientation.

d.        market orientation.

e.         profit maximization orientation.

With respect to the history of American business, the __________ era is when today’s firms continuously seek to satisfy the high expectations of customers.

a.         production

b.        sales

c.         marketing concept

d.        customer relationship

e.         societal marketing

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

a.         sales era

b.        production era

c.         age of consumerism

d.        marketing concept era

e.         customer relationship era

In Figure 1-5 above, letter “B” represents which era in U.S. business history?

a.         sales era

b.        production era

c.         age of consumerism

d.        marketing concept era

e.         customer relationship era

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

a.         sales era

b.        production era

c.         age of consumerism

d.        marketing concept era

e.         customer relationship era

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

a.         sales era

b.        production era

c.         age of consumerism

d.        marketing concept era

e.         customer relationship era

Customer relationship management refers to

a.         the view that organizations should satisfy the needs of consumers in a way that provides for society’s well being.

b.        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.

c.         the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.

d.        the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.

e.         the cluster of benefits that an organization promises customers to satisfy their needs.

Customer relationship management (CRM) is most closely related to the __________ era in U.S. business history.

a.         customer relationship

b.        production

c.         sales

d.        marketing concept

e.         societal marketing

The United Way of Greater Toronto (UWGT), like many charities, was sitting on a gold mine of donor data.  Unfortunately, UWGT was not certain how to use that information to its greatest advantage.  UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT over other charities.  Which of the following tools would be most useful for the nonprofit organization to use?

a.         a flexible marketing system

b.        a database warehouse

c.         a customer relationship management plan

d.        a competitive intelligence framework

e.         a customer-oriented marketing program

Customer experience refers to

a.         the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

b.        the links an organization has to its customers for their mutual long-term benefits.

c.         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.

d.        the internal response that customers have to all aspects of an organization and its offerings.

e.         the activities in which a firm will participate in order to create a positive buying experience for the customer.

The internal response that customers have to all aspects of an organization and its offerings is referred to as __________.

a.         customer experience

b.        relationship marketing

c.         internal customer audit

d.        internal marketing

e.         customer relationship management

Recently, Fortune magazine named Trader Joe’s “America’s hottest retailer” for its outstanding __________, including personal attention from employees in the store.

a.         customer value proposition

b.        relationship marketing

c.         customer experience

d.        internal marketing

e.         customer relationship management

All of the following are aspects of Trader Joe’s customer experience EXCEPT:

a.         it has a large and expensive research and development facility.

b.        it offers unusual food products not available from other retailers.

c.         it stocks yuppie-friendly staples on its shelves.

d.        it sets low prices by offering its own brands, not national ones.

e.         it provides rare employee “engagement” to help customers.

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

a.         nonprofit organizations

b.        government

c.         suppliers

d.        resellers

e.         consumers

Social responsibility is

a.         the view that organizations should satisfy the needs of consumers in a way that provides for society’s well being.

b.        the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.

c.         the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals.

d.        the idea that individuals and organizations are accountable to a larger society.

e.         the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.

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

a.         the societal marketing concept.

b.        social responsibility.

c.         consumerism.

d.        sustainable development.

e.         capitalism.

As organizations have changed their orientation, society’s expectations of marketers have also changed.  Today, the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.

a.         society at large

b.        government

c.         suppliers

d.        resellers

e.         producers

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?

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.

Which of the following most directly explains why pharmaceutical giant Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 each per month?

a.         the profit motive since aging baby boomers are a large, profitable market

b.        the social responsibility concept

c.         the necessity of matching competitors’ actions

d.        new regulatory Medicare mandates as a result of the Affordable Care Act legislation

e.         the mandate by its industry’s code of ethics

The societal marketing concept

a.         is the moral principles and values that govern the actions and decisions of an organization.

b.        is the idea that organizations are part of a larger society and are accountable to that society for their actions.

c.         actively tries to understand customer needs and satisfying them while satisfying the firm’s goals.

d.        involves conducting business in a way that protects the natural environment while making economic progress.

e.         is the view that an organization should satisfy the needs of consumers in a way that provides for society’s well being.

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

a.         the societal marketing concept.

b.        the marketing concept.

c.         consumerism.

d.        social responsibility.

e.         capitalism.

Innovators at 3M developed Scotch-Brite^® Never Rust Wool Soap Pads from recycled plastic bottles.  Even though these soap pads are more expensive than competitive brands (Brillo and SOS), customers are willing to pay the premium price.  Customers appreciate the value of a superior product (they don’t rust or scratch) and appreciate the fact that their purchase is environmentally responsible.  This demonstrates that

a.         an organization can be environmentally conscious while still satisfying its customers and remaining competitive in the market.

b.        an organization can use a customer’s sense of social responsibility to its own advantage even though the effects are minimal.

c.         if a company uses recycled materials, it can always charge more than what a product is actually worth.

d.        it is more important to act in a socially responsible manner than to consider the profits and goals of the organization.

e.         the first brand that creates a new product gets to charge the highest price and make the greatest profits.

What kinds of organizations engage in marketing?

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 the organization that wants to make a profit

Which of the following organizations engage in marketing?

a.         the Chicago Cubs

b.        the San Francisco Opera

c.         the City of Denver

d.        the President of the United States

e.         Every organization or individual can engage in marketing to some extent.

Which of the following statements best describes a good?

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.

Which of the following statements best describes a service?

a.         Services are physical objects.

b.        Services are intangible items.

c.         Services are thoughts about concepts, actions, or causes.

d.        Services are the benefits organizations receive in exchange for selling products.

e.         Services comprise the subset of tangible features of products.

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

a.         utility

b.        performance

c.         service

d.        value

e.         idea

A live theatre performance cannot be touched like a physical object, but is still considered a product.  To a marketer, this is an example of a(n) __________.

a.         utility

b.        production

c.         value

d.        service

e.         idea

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

a.         utilities.

b.        experiences.

c.         values.

d.        ideas.

e.         services.

A product

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 satisfy 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.

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 is known as a(n)

a.         utility.

b.        item.

c.         service.

d.        marketing program.

e.         product.

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

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

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.

a.         good

b.        idea

c.         service

d.        assembly

e.         charity

All of the following are examples of ideas EXCEPT:

a.         State governments in Arizona and Florida marketing the notion of taking a warm, sunny winter vacations in their states.

b.        Apple using a TV ad to explain the features of an iPad mini (camera, screen resolution, user interface, etc.).

c.         the Nature Conservancy marketing the cause of protecting the environment.

d.        conservative politicians who attempt to persuade voters of the need to slash government spending to reduce the $17 trillion debt.

e.         Charities like the Red Cross marketing the idea that it’s worthwhile for you to donate your time or money to their causes to benefit society.

Ultimate consumers refer to

a.         the people who use the products and services purchased for a household.

b.        people who have already purchased a firm’s product at least once, have been satisfied, and are likely to make repeat purchases.

c.         people or organizations that have used a competitor’s product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.

d.        those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.

e.         one or more specific groups of potential customers toward whom an organization directs its marketing program.

The people who use the products and services purchased for a household are called

a.         organizational buyers.

b.        household prospects.

c.         ultimate consumers.

d.        a target market.

e.         sellers.

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?

a.         ultimate consumers

b.        situational buyers

c.         primary buyers

d.        a target market

e.         household prospects

Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores.  Who is the ultimate consumer for this magazine?

a.         the person who buys the magazine to read at home

b.        the person who stocks the magazine rack at Walmart

c.         the person who browses the magazine in the store but does not buy it

d.        the salesperson for Time Inc. who sold the magazine to Walmart

e.         All people, from the writer, to the seller, to the reader at home, are the ultimate consumers.

Which of the following is an example of an ultimate consumer?

a.         a newspaper reporter who receives a plane ticket to Washington, D.C. to cover the presidential inauguration

b.        a school teacher who bought a ticket to the Summer Olympics opening ceremonies

c.         an office receptionist who renews the magazines that are found in the office waiting room

d.        a retailer who buys poster board to make signs for an upcoming store sale

e.         a landscaping firm employee who buys a new wheelbarrow to use to haul mulch

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

a.         intermediate buyers.

b.        selling agents.

c.         organizational buyers.

d.        manufacturing agents.

e.         brokers.

Organizational buyers are described as

a.         only purchasers of raw materials and natural resources.

b.        employees who purchase household items for their personal use.

c.         any individual or group making a purchase worth over $100,000.

d.        manufacturers, retailers, or government agencies that buy products for their own use or for resale.

e.         any man, woman, or child who uses products purchased for a household.

Which of the following is the best example of an organizational buyer?

a.         a mother buying milk for her young son

b.        a store owner buying hand-painted slate signs to sell in her store

c.         a computer programmer buying the latest game for his Xbox.

d.        a botanist buying a rose bush for his home garden

e.         a parent buying a softball glove for a daughter

Effective marketing benefits society because it

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.

Utility refers to

a.         the number of alternative uses or benefits that can be provided by a single product or service.

b.        the adaptability of a marketing program to adjust to changes in the marketing environment.

c.         the benefits or customer value received by users of the product.

d.        the fixed costs associated with the production of a single unit of a product within a product line.

e.         the variable costs associated with the production of a single unit of a product within a product line.

The benefits or customer value received by users of a product is called __________.

a.         utility

b.        synergy

c.         consumerism

d.        cost-benefit ratio

e.         customer lifetime value

The four utilities marketing creates are

a.         product, price, promotion, and place.

b.        form, function, value, and people.

c.         monopoly, monopolistic competition, pure competition, and oligopoly.

d.        form, place, time, and possession.

e.         natural gas, fossil fuel, electricity, and water.

The value to consumers that comes from the production or alteration of a product or service constitutes __________ utility.

a.         time

b.        place

c.         possession

d.        market

e.         form

Which of the following is an example of form utility?

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

FreshCase packaging is the first-ever vacuum package for red meat that maintains the meat’s appetizing color, reducing both food and plastic waste.  This is an example of creating __________ utility in the case-ready meat category.

a.         time

b.        place

c.         form

d.        possession

e.         market

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

a.         time

b.        form

c.         place

d.        possession

e.         market

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

a.         time

b.        place

c.         possession

d.        market

e.         form

The value to consumers that comes from having the offering available where consumers need it constitutes __________ utility.

a.         time

b.        place

c.         possession

d.        market

e.         form

Which of the following statements is an example of place utility?

a.         airlines that allow you to print your own boarding pass at home

b.        a service station that adds a diesel fuel pump to its three unleaded gasoline pumps

c.         a mobile phone company that offers six-month financing, same as cash

d.        cold cut packages that can be zipped close for reuse

e.         an iPhone with a “multitouch” user interface for easy navigation

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

a.         place

b.        possession

c.         market

d.        time

e.         form

What utility does UPS provide when it delivers new DVD releases to Best Buy stores before the Tuesday national release day?

a.         time utility

b.        place utility

c.         possession utility

d.        market utility

e.         form utility

Dick’s Sporting Goods carries baseballs all year around.  The same is true for footballs and tennis equipment.  With this all-year-around strategy, Dick’s Sporting Goods offers __________ utility for these products.

a.         time

b.        place

c.         possession

d.        market

e.         form

Which of the following is an example of time utility?

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 trial

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 __________ utilities.

a.         form and place

b.        form and time

c.         place and time

d.        time and possession

e.         form and possession

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

a.         time

b.        place

c.         market

d.        possession

e.         form

Which of the following is an example of possession utility?

a.         an iPhone with a large selection of new “apps”

b.        the local dairy that offers to deliver bottles of milk to a customer’s doorstep

c.         disposable diapers that come equipped with resealable tabs

d.        a gourmet food store that carries a line of ready-made salads

e.         a mobile phone company that offers six-month financing, same as cash

Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card.  Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.

a.         form

b.        time

c.         price

d.        possession

e.         place

The founder of Chobani Greek Yogurt, who won the 2013 Ernst & Young World Entrepreneur of the Year award, is

a.         Mark Zuckerberg.

b.        “Trader” Joe Demapolis.

c.         Hamdi Ulukaya.

d.        Robert M. McMath.

e.         David Windorski.

The difference between “Greek” yogurt and “American” yogurt is that the latter

a.         has a thick texture.

b.        is too thin.

c.         is not sweet enough for health-conscience palettes.

d.        is only sold in health or natural food stores.

e.         has high protein content.

All of the following are points of difference for Chobani Greek Yogurt EXCEPT:

a.         a shorter, wider cup that was more visible on retailers’ shelves.

b.        preservative-free.

c.         a bit lower in protein than regular yogurt.

d.        proprietary animal-based thickener to make its “Greek-style” yogurts.

e.         a straining process that removes excess liquid whey.

All of the following current or prospective distribution channels for Chobani Greek Yogurt EXCEPT:

a.         convenience stores.

b.        drug stores.

c.         mass merchandisers.

d.        supermarkets.

e.         vending machines.

Chobani used all of the following tactics to promote its Chobani Greek Yogurt EXCEPT:

a.         sponsored the Food Network’s Rachel vs. Guy Kids Kick-Off TV show with its Chobani Champions^Ò Tubes.

b.        created a website to provide consumers with recipes that use Chobani Greek Yogurt.

c.         sponsored the 2012 U.S. Olympic Team.

d.        used its CHOmobile to offer samples of its Greek Yogurt to first-time customers.

e.         relied on word-of-mouth in its early years.