Question 1

Describe Chobani's distribution (place) strategy.

Accepted Answer

From the beginning, Chobani pushed for d...

Question 2

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

Accepted Answer

A)  two
B)  three
C)  four
D)  five
E)  tenF) B) and D)
G) A) and C)

Question 3

What are the three components of a person's ability to buy an offering?

Accepted Answer

The three components...

Question 4

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.

Accepted Answer

A)  time
B)  place
C)  possession
D)  market
E)  formF) C) and D)
G) A) and B)

Question 5

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

Accepted Answer

A)  core benefit proposal
B)  product protocol
C)  marketing program
D)  marketing mix
E)  customer value propositionF) A) and D)
G) A) and C)

Question 6

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

Accepted Answer

A)  mass market.
B)  tangential market.
C)  potential market.
D)  target market.
E)  promotional market.F) D) and E)
G) A) and E)

Question 7

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

Accepted Answer

A)  customer experience
B)  relationship marketing
C)  internal customer audit
D)  internal marketing
E)  customer relationship managementF) C) and D)
G) B) and E)

Question 8

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)  __________.

Accepted Answer

A)  utility
B)  production
C)  value
D)  service
E)  ideaF) A) and D)
G) C) and D)

Question 9

Which of the following statements best describes a good?

Accepted Answer

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

Question 10

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

Accepted Answer

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 navigationF) B) and D)
G) A) and E)

Question 11

In marketing, the idea of exchange refers to

Accepted Answer

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

Question 12

A want refers to

Accepted Answer

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

Question 13

Which of the following products mentioned in Chapter 1 failed in the marketplace as a result of product misuse?

Accepted Answer

A)  Life is Good t-shirts
B)  Hot Pockets
C)  Bell bicycle helmets
D)  3M Post-it Flag+ Highlighter
E)  Dr. Care toothpasteF) B) and E)
G) A) and B)

Question 14

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

Accepted Answer

A)  intermediate buyers.
B)  selling agents.
C)  organizational buyers.
D)  manufacturing agents.
E)  brokers.F) A) and D)
G) B) and D)

Question 15

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

Accepted Answer

A)  a prospective customer.
B)  a dual-purpose marketing decision maker.
C)  a potential distributor.
D)  an informed buyer.
E)  an end-user.F) C) and D)
G) A) and D)

Question 16

The two central concerns of marketing are __________.

Accepted Answer

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 sustainabilityF) A) and E)
G) A) and D)

Question 17

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.

Accepted Answer

A)  two
B)  three
C)  four
D)  five
E)  tenF) B) and C)
G) A) and C)

Question 18

The marketing mix refers to

Accepted Answer

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.F) C) and D)
G) A) and D)

Question 19

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

Accepted Answer

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.F) D) and E)
G) B) and E)

Question 20

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

Accepted Answer

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 largeF) B) and C)
G) A) and E)

Exam 1: Creating Customer Relationships and Value Through Marketing

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following products mentioned in Chapter 1 failed in the marketplace as a result of product misuse?

Correct AnswerverifiedShow Answer

A want refers to

Correct AnswerverifiedShow Answer

The marketing mix refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements best describes a good?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In marketing, the idea of exchange refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Describe Chobani's distribution (place) strategy.

Correct AnswerverifiedFrom the beginning, Chobani pushed for d...View AnswerShow Answer

What are the three components of a person's ability to buy an offering?

Correct AnswerverifiedThe three components...View AnswerShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The two central concerns of marketing are __________.

Correct AnswerverifiedShow Answer

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) __________.

Correct AnswerverifiedShow Answer

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From the beginning, Chobani pushed for d...
View Answer

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The three components...
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