Marketing Exam 1
. 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.
A
. Satisfying consumer needs 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.
A
. 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.
A
. 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.
A
A typical marketing department both shapes and ____________ its relationship with internal and external groups. A. is shaped by B. organizes C. motivates D. determines E. dominates
A
All markets ultimately are composed of A. people. B. brands. C. products. D. organizations. E. governments.
A
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.
A
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.
A
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
A
The Arizona Biltmore in Phoenix is a resort hotel located less than a mile 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 fliers 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
The __________ element of the marketing mix is demonstrated when Amazon delivers packages to a customer's front porch via the U.S. Postal Service. A. place B. product C. price D. promotion E. procurement
A
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 noncompetitive products that target similar markets. E. the coordination between the various departments within the entire firm.
A
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
Which of the following would a marketer use as a synonym for the marketing mix? A. the four Ps of marketing B. environmental forces C. macromarketing forces D. marketing management factors E. micromarketing factors
A
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
B
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.
B
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.
B
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.
B
A want is a(n) ____ that is shaped by a person's knowledge, culture, and personality. A. desire B. need C. utility D. demand E. option
B
All of the following constitute the four Ps of the marketing mix except which? A. promotion B. profitability C. price D. place E. product
B
For marketing to occur, there must be two or more parties involved. 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 cool 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 health benefits of adequate hydration.
B
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 operation of supply and demand.
B
Marketers often discover consumer needs by A. implementing a marketing program. B. conducting effective marketing research. C. balancing the marketing mix elements—the four Ps of the marketing program. D. advertising to diverse groups of prospective buyers. E. copying the products and services of competitors.
B
One challenge faced by organizations is that each must ______ the interests of countless other people, groups, and forces that interact to shape the nature of its actions. A. resist B. strike a balance among C. develop D. be responsible for E. minimize
B
Pepsi True is new cola from Pepsi-Cola is sweetened with a combination of sugar and stevia leaf extract, resulting in a soft drink with the same flavor of Pepsi but only 60 calories. A potential showstopper for this product is likely to be A. a lack of advertising on television. B. mid-calorie soft drinks such as Pepsi Next (2012) have not been successful in the past. C. a lower profit margin due to the added costs of expensive ingredients. D. cannibalization of the company's existing sodas. E. the use of a combination of sugar and stevia leaf extract.
B
Steve wants to eat a Cool Mint Chocolate Clif Bar because, based on his past experience, he knows it will satisfy his hunger A. preference. B. need. C. utility. D. want. E. expression.
B
Studies of new product launches indicate that about __________ percent of the products fail. A. 33 B. 40 C. 67 D. 75 E. 90
B
Suppose you want a snack after taking this exam. Dominos 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 is only one party 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.
B
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 briefcases? A. police officers B. executives C. construction workers D. postal workers E. students
B
The American Red Cross creates advertisements to encourage people to donate blood. After viewing one, Amanda decided to donate a pint of blood. After she did, Amanda felt happy that she had performed a good deed. Did an exchange occur in a marketing sense? 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.
B
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.
B
The five major environmental forces in a marketing decision are A. climate change, natural resources, pollution, natural disasters, and global conflict. B. social, technological, economic, competitive, and regulatory. C. corporate ownership, internal management, supplier partnerships, strategic alliances, and customer relationships. D. product, price, promotion, place, and people. E. ethics, sustainability, cultural awareness, diversity, and values.
B
The marketing manager's controllable factors—product, price, promotion, and place—that can be used to solve a marketing problem are referred to as A. the marketing concept. B. the marketing mix. C. the marketing program. D. environmental forces. E. the marketing toolbox
B
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.
B
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.
B
Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night? A. product B. price C. promotion D. place E. production
B
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
B
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 both shapes and is shaped by its relationship with internal and external groups. 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.
B
: The four Ps are the marketing manager's controllable factors—product, price, promotion, and place—that can be used to solve a marketing problem. 86. 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. environmental factors, both controllable and uncontrollable.
C
A student would like to buy a 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.
C
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 feeling of deprivation of basic necessities such as food, clothing, and shelter.
C
All of the following are factors required for marketing to occur except which? 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
C
All of the following are true about marketing except which? 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. Successful marketing usually results in one "winner" and one or more "losers." D. When an organization engages in marketing, it should also create value for its partners and society. E. Marketing is a broader activity than personal selling.
C
From its inception, Chobani wanted to place its yogurt where? A. in organic food section of major grocery store chains B. in warehouse club stores like Sam's Club or Costco C. in the dairy cases of major grocery store chains D. in mass merchandise stores like Target E. in independent organic cooperatives, farmers' markets, and major organic grocery stores like Whole Foods or Sprouts
C
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 nongovernmental organizations or individuals. E. the practice of swapping products and services for other products and services rather than for money.
C
People with both the desire and ability to buy a specific offering are referred to as A. shoppers. B. a customer base. C. a market. D. qualified prospects. E. candidates.
C
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.
C
The Terrafugia Transition 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.
C
The __________ element of the marketing mix is demonstrated when a company places an ad on a highway billboard. A. product B. price C. promotion D. place
C
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as A. manufacturing. B. advertising. C. marketing. D. selling. E. promotion.
C
The best description of the 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.
C
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 toward 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.
C
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used for the old-fashioned cookies the company produces and markets. The cookies are which part of the company's marketing mix? A. process B. price C. product D. place E. people
C
To attend a winter concert presented by the community chorus, every person had to donate one unwrapped toy at the concert hall door. The donation is most closely related to the __________ element of the marketing mix. A. product B. philanthropy C. price D. place E. promotion
C
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.
C
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
C
Which of the following is not an environmental force? A. technological B. regulatory C. ecological D. competitive E. economic
C
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 worthwhile 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. 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. neither of the involved parties have the ability to satisfy its needs. D. there is no way for the parties to communicate with one another. E. there has been no assessment of consumer wants and needs.
D
A factor that might doom a product in the marketplace is referred to as A. an albatross. B. a land mine. C. a pitfall. D. a showstopper. E. a wild card.
D
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 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.
D
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 doubt you'll see real results and 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.
D
All of the following are examples of products or services that satisfy a consumer need except which? A. a pair of jeans B. an apple C. a student dormitory D. a sales tax E. a jacket
D
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.
D
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 shipping. 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. The products are only available through the mail. This is a description of the company's A. action plan. B. market segmentation strategy. C. mission statement. D. marketing mix. E. target market
D
John receives a coupon on his iPhone advising him about the location of a Domino's Pizza store. This is an example of which? A. demonstrating an unmet need B. discovering a consumer need C. the foundation of brand loyalty D. a way for parties to communicate
D
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. base market. C. potential market. D. target market. E. promotional market.
D
The United States Army was both praised and criticized for its use of a popular video game, America's Army, which was 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 was 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.
D
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
D
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. E. the process.
D
The four Ps of the marketing mix are A. priorities, personnel, placement, and profits. B. predict, produce, price, and promotion. C. product, price, production, and place. D. product, price, promotion, and place. E. predict, produce, package, and persuade.
D
The marketing mix refers to A. the multiple sales and advertising strategies that can be used to promote a product. B. the dynamic 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.
D
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. An offer to be featured in an upcoming edition of Taste of Home magazine would be considered as part of the __________ element of the marketing mix. A. product B. price C. production D. promotion E. place
D
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
D
Which of the following is not an environmental force? A. economic B. regulatory C. social D. commercial E. technological
D
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
D
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.
D
________________ is/are responsible for establishing the organization's mission and objectives. A. Marketers B. Suppliers C. Customers D. Senior management E. Shareholders
D
. In Figure 1-2, "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
E
. Mizuno designs and sells high quality baseball gloves. Who does benefit from the firm's marketing activities for its gloves? A. a baseball or softball player who purchases a new Mizuno glove B. the Dick's Sporting Goods 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. Actually, all stakeholders should be benefit from Mizuno's marketing efforts, even society at large.
E
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.
E
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
E
A local university offers business courses for a target market of people who currently work and want to take refresher courses for certification in their 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
E
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 vague lacking, but not fully understanding what may be required. E. a feeling of deprivation of basic necessities such as food, clothing, and shelter.
E
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. existing or 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.
E
All of the following are departments within a typical organization except which? A. finance B. manufacturing C. information systems D. human resources E. suppliers
E
Conducting marketing research is an excellent way to address the first objective in marketing, which is to discover consumers' A. diversity of opinion, to create persuasive 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.
E
Discovering consumer needs leads directly to A. purchases by customers. B. stakeholder rewards. C. sales and manufacturing department outcomes. D. supplier and distributor outcomes. E. concepts for new products.
E
If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer for Colgate, when launching a new version of the 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 to the product's benefits but instead 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.
E
Mark Zuckerberg encountered unimaginable success with his launch of "TheFacebook.com" website from his college dorm room. By the second week, it had almost __________ members. A. 100 B. 300 C. 500 D. 1,000 E. 5,000
E
The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a A. core benefit proposal. B. product protocol. C. marketing program. D. marketing mix. E. customer value proposition.
E
The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is A. philanthropy. B. place. C. product. D. promotion. E. price.
E
The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization. A. administrative forces B. profitability factors C. stakeholder value generators D. target market segments E. controllable factors
E
Which of the following is a factor required for marketing to occur? 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. a way for interested parties to communicate
E
Which of the following products might have failed in the marketplace because it was perceived to have limited usefulness? A. Pepsi True soft drink B. Hot Pockets C. Bell bicycle helmets D. 3M Post-it® Flag+ Highlighter E. Apple Newton MessagePad
E
Which of the following statements about marketing departments is most accurate? A. The marketing department typically works as an independent unit, mostly interacting with other parts of the business only to direct product promotion. B. The marketing department should set the firm's objectives, based on its knowledge of the market and environmental forces. C. The marketing department is only responsible for two of the four 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 other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.
E
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 have significant marketing expertise since you make marketing-related decisions every day.
E
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 luxury items while needs are solely possessions required to maintain relationships. D. Needs and wants are psychologically the same, but needs are those that a consumer can be guaranteed to satisfy. E. 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
All of the following are environmental forces that affect an organization except which? A. economic B. geographical C. social D. regulatory E. technological
b
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.
b
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
b
