Archive for February 2017

Which of the following statements best describes total quality management?

Which of the following statements best describes total quality management?





a) A process aimed at improving product quality, increasing competition based on quality, and quality improvement among employees
b) The coordination of efforts directed at improving customer satisfaction, increasing employee participation, forming and strengthening supplier partnerships, and facilitating continuous quality improvements
c) A method of increasing overall financial benefits, emphasizing faster development of innovations, and improving customer satisfaction
d) A process directed at controlling marketing activities at a higher level of involvement among the firms' employees
e) An approach used to emphasize the need for quality among a firm's hierarchy of employees, beginning with top-level executives








Answer: B

According to the Boston Consulting Group, question marks are characterized as products

According to the Boston Consulting Group, question marks are characterized as products





a) having a small share of a growing market and requiring large amounts of cash to build market share.
b) generating more cash than is required to maintain share.
c) encompassing the greatest number of products.
d) existing at a cost disadvantage and revealing few opportunities for growth at a reasonable cost.
e) having substantial reported profits but needing a lot of cash to finance the rate of growth.





Answer: A

The Boston Consulting Group's matrix is based on the

The Boston Consulting Group's matrix is based on the




a) idea that a firm's market share and market attractiveness are the important factors for a marketing strategy.
b) assumption that a firm's actions have a profitable impact on marketing strategy.
c) business position and market attractiveness of the firm.
d) philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy.
e) idea that a product's market growth rate and market attractiveness determine the marketing strategy.







Answer: D

The time lag between the performance of marketing activities and their results

The time lag between the performance of marketing activities and their results



a) limits the marketing manager's ability to measure the effectiveness of marketing activities.
b) facilitates the ability to measure performance.
c) increases the chance of accurate measurement.







Answer: A

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except



a) improving actual performance.
b) reducing the performance standard.
c) totally changing the performance standard.
d) changing the marketing strategy.
e) coordinating a new step in performance analysis.








Answer: E

The first step in the marketing control process is to

The first step in the marketing control process is to



a) take corrective action.
b) reduce the difference between actual and desired standards.
c) evaluate actual performance.
d) compare actual performance and standards.
e) establish performance standards.






Answer: E

The marketing control process consists of

The marketing control process consists of



a) establishing goals, market scanning, and market share analysis.
b) establishing performance standards, evaluating performance, and reducing the differences between desired and actual performance.
c) establishing goals and measuring performance.
d) planning, implementing, and measuring marketing activities.
e) setting objectives, implementing strategies, and reducing the differences between desired and actual performance.







Answer: B

A firm that wants to put more senior management personnel into the field, to get closer to customers, and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of

A firm that wants to put more senior management personnel into the field, to get closer to customers, and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of



a) functions.
b) regions.
c) customer types.
d) markets.
e) products.






Answer: B

Suppose a customer calls Ann's office at Frito-Lay in Atlanta. The customer has a friend in Seattle who was just telling her about a new snack Frito-Lay has introduced that is selling rapidly. Ann's office does not market this product, and at the present knows very little about it. Based on this information, this firm is most likely organized according to which of the following?

Suppose a customer calls Ann's office at Frito-Lay in Atlanta. The customer has a friend in Seattle who was just telling her about a new snack Frito-Lay has introduced that is selling rapidly. Ann's office does not market this product, and at the present knows very little about it. Based on this information, this firm is most likely organized according to which of the following?



a) Function
b) Product
c) Region
d) Customer
e) Market








Answer: C

A disadvantage of organizing a firm's marketing unit by products is that

A disadvantage of organizing a firm's marketing unit by products is that




a) product managers do not have adequate control over marketing activities.
b) large firms might experience coordination problems.
c) it can be rather expensive.
d) specialized marketing assistance is less readily available.
e) marketing flexibility is limited.








Answer: C

If you were a marketing manager, under which type of organizational structure would you most likely be working if your firm were a large business with centralized marketing operations?

If you were a marketing manager, under which type of organizational structure would you most likely be working if your firm were a large business with centralized marketing operations?




a) Organization by type of customer
b) Organization by function
c) Organization by regions
d) Organization by products and regions
e) Organization by products







Answer: B

According to the textbook, which of the following statements is most accurate?

According to the textbook, which of the following statements is most accurate?



a) A small company always should organize by products, and a large organization should organize by regions.
b) There is no single approach to organizing a marketing unit that works well in all businesses.
c)Some organizations, by nature, have no specific internal structure.
d) Organizing by type of customer works best for companies with few groups of customers.
e) Using several bases for organizing leads to uncoordinated marketing management.







Answer: B

In a traditional organization, marketing decisions are likely to be

In a traditional organization, marketing decisions are likely to be




a) very decentralized.
b) centralized at the top levels of the organization.
c) made by frontline employees.
d) made by frontline managers.
e) made only by the CEO.






Answer: B

According to the text, the 80/20 rule suggests that

According to the text, the 80/20 rule suggests that





a)80 percent of profits come from 20 percent of business customers.
b) 20 percent of profits come from 80 percent of business customers.
c) 20 percent of profits come from 80 percent of customers.
d) 80 percent of profits come from 20 percent of customers.
e) 80 percent of profits come from 20 percent of sales.









Answer: D

____ refers to the coordination of internal exchanges between the organization and its employees to better achieve successful external exchanges between the organization and its customers.

____ refers to the coordination of internal exchanges between the organization and its employees to better achieve successful external exchanges between the organization and its customers.




a) Internal management
b) Internal leadership
c) Empowerment
d) Internal marketing
e) Total quality management






Answer: D

A marketing plan usually begins with a(n)

A marketing plan usually begins with a(n)




a) executive summary.
b) introduction to the company's marketing objectives.
c) summary of current performance as compared with past performance.
d) situation analysis.
e) opportunity and threat analysis.





Answer: A

Which of the following is not a purpose of the marketing plan?

Which of the following is not a purpose of the marketing plan?




a) Communicate internally with employees
b) Assign tasks and responsibilities for implementation
c) Specify the allocation of resources
d) Monitor the performance of a marketing strategy
e) Serve as a contract with the customer





Answer: E

The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications?

The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications?





a) Problem child
b) Star
c) Cash cow
d) Dog
e) Question mark






Answer: C

According to the text, a market is defined as

According to the text, a market is defined as






a) a place to buy products.
b) the buyers of the products that a company develops, promotes, prices, and distributes.
c) the specific group of customers on whom an organization focuses its marketing efforts.
d) a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase these products









Answer: D

_____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

_____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.



a) corporate
b) business unit
c) Marketing
d) Mission statement
e) Marketing mix







Answer: A

A competitive advantage exists when a

A competitive advantage exists when a



a) firm matches a core competency to opportunities it has discovered in the marketplace.
b) firm does marketing better than its competitors.
c) combination of circumstances and timing allow a firm to reach an attractive target market.







Answer: A

A strategic window is

A strategic window is



a) The right combination of circumstances and timing that permit an organization to take action to reach a particular target market.
b) what determines the factors that are most important in making a market attractive or strong.
c) customers' requirements or desired benefits.
d) a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.







Answer: D

Realizing that consumers have begun to seek vehicles that use less gasoline, Toyota heavily promotes its hybrid automobiles to capitalize on this __________ while the strategic window is open.

Realizing that consumers have begun to seek vehicles that use less gasoline, Toyota heavily promotes its hybrid automobiles to capitalize on this __________ while the strategic window is open.



a) marketing mix
b) market opportunity
c) objective
d) requirement









Answer: B

In response to the increase in demand for organic foods, Wegmans, Inc., a regional supermarket, recently created organic food departments within their large stores. The creation of these departments was a result of

In response to the increase in demand for organic foods, Wegmans, Inc., a regional supermarket, recently created organic food departments within their large stores. The creation of these departments was a result of





a) a core competency
b) a market opportunity
c) its sales orientations
d) its distribution plan
e) a competitive advantage







Answer: B

The strategic planning process begins with

The strategic planning process begins with




a) development of an organizational mission statement.
b) development of marketing strategy.
c) analysis of the marketing environment.
d) analysis of target markets.
e) development of a marketing plan.







Answer: C

The marketing plan is

The marketing plan is




a)a plan of all aspects of an organization's business strategy.
b) written differently for each SBU.
c) a written document detailing activities to be performed to implement and control marketing actions.
d)designed to specify not only marketing, but all other functional areas of business activities as well.
e) updated only periodically.





Answer: C

To formulate a marketing strategy, one must

To formulate a marketing strategy, one must



a) identify and analyze a target market and develop a marketing mix to satisfy individuals in that market.
b)develop a statement of what is to be accomplished through marketing activities.
c) develop plans for implementation and control.
d) develop an adequate marketing control process.






Answer: A

A student would like to buy a sports car from the local dealer, but she cannot afford one. Marketing does not occur in this situation because

A student would like to buy a sports car from the local dealer, but she cannot afford one. 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.







Answer: C

For marketing to occur, there must be two or more parties with unsatisfied needs. Cadbury Beverages, Inc. has begun distributing Country Time lemonade through supermarkets at a price comparable to that of soft drinks. The most likely "second" party needed for marketing to occur would be

For marketing to occur, there must be two or more parties with unsatisfied needs. Cadbury Beverages, Inc. has begun distributing Country Time lemonade 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 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







Answer: B

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. What is the next logical step in order for marketing to occur?

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. What is the next logical step in order for marketing to occur?





a. He should buy a GMAT study guide at the bookstore.
b. He should find out what the minimum score he needs to get into the school of his choice.
c. He should check for ads for tutors in the college and local papers, ask his friends, look for flyers by her on a bulletin board in the business college student lounge, etc.
d. He should consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission.
e. He should apply for delayed admission if he can't find this tutor.




Answer: C

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.

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. a sense of social responsibility
d. a desire and ability on their part to be satisfied
e. an ability to see hidden potential within an environmental force





Answer: D

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

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




a. a healthy competitive environment
b. government approval
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





Answer: E

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

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.






Answer: B

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

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






a. The marketing department should work with people solely 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 responsible for only the 4Ps.
d. The marketing department is 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.






Answer: E

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

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. relationships with governmental regulatory agencies






Answer: A

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

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







Answer: B

A local college of business offers an outstanding graduate business school education program. Cali 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 local college of business offers an outstanding graduate business school education program. Cali 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 Cali's tuition.
b. No, because money was exchanged in the form of tuition and Cali's income will come from her employer, not the graduate school.
c. No, because the school did not provide Cali with a tangible product, only the potential of an education.
d. Yes, because the university promised Cali she would graduate on time, and she did.
e. Yes, because paying tuition was exchanged for knowledge that directly led to Cali's high paying, fulfilling new job.








Answer: E

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 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.






Answer: D

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. Was this an exchange in a marketing sense?

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. Was this an exchange 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.






Answer: B

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:

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





Answer: A

In marketing, the idea of exchange refers to

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







Answer: C

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $250,000. The most likely prospective customers for this flying car would include

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $250,000. The most likely prospective customers for this flying car would include




a. students interested in science fiction.
b. retired seniors receiving social security.
c. executives for whom time is extremely important.
d. teens who like to try new things.
e. All of the people above are likely prospective customers of the Transition.






Answer: C

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 iPhone 4S, which statement is most accurate?

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 iPhone 4S, 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 product.
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. Every person who uses a smartphone is prospective customer; they benefit whether they purchase the smartphone or not.






Answer: B

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

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. the primary marketing decision maker.
c. a potential distributor.
d. an informed buyer.
e. an unqualified prospect.







Answer: A

Mizuno designs and sells high quality baseball gloves. Who benefits the LEAST from the firm's marketing activities for its gloves?

Mizuno designs and sells high quality baseball gloves. Who benefits the LEAST 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 player a Mizuno glove
c. the supplier who provided the leather to Mizuno
d. the shareholder of Mizuno that designs and manufactures the gloves
e. No one should benefit the "least." All should be benefit from Mizuno's marketing efforts, even society at large.






Answer: E

Which of the following statements about stakeholders is most accurate?

Which of the following statements about stakeholders is most accurate?



a. Ultimately, the only relevant stakeholder is the ultimate consumer.
b. The organization, suppliers, shareholders, employees, and consumers 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.






Answer: B

The common factor among an organization's chairman of the board, stockholders, suppliers, laborers, customers, and society at large is that

The common factor among an organization's chairman of the board, stockholders, suppliers, laborers, customers, and society at large is that



a. all are stakeholders and should benefit from the marketing of a product.
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.
e. all use the product or service marketed by the organization.





Answer: A

All of the following are true about marketing EXCEPT:

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 products, services, and ideas.
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.





Answer: C

The combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines marketing as

The combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines 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 solely for the benefit of the organization's customers.
c. the activity for creating, communicating, and delivering a product or service at the highest possible price.
d. the activities of advertising, promoting, and selling products to the greatest number of profitable customers.
e. the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.





Answer: E

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 __________.

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





Answer: C

Marketing refers to

Marketing refers to




a. the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its shareholders, and employees.
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 offerings that benefit the organization, its shareholders, and customers.
d. the activity for creating, communicating, delivering a product or service to a specific segment of the market, and providing the greatest customer value at the highest possible price.
e. the activities of advertising, promoting, and selling products to the greatest number of potential customers while simultaneously meeting the needs of the customer and organization.





Answer: A

Marketing refers to

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.
c. the process of identifying target market segments for a product or service.
d. the activity involved in actually getting a product or service 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







Answer: E

Initially, Facebook targeted which market segment of consumers?

Initially, Facebook targeted which market segment of consumers?




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






Answer: C

Which of the following statements about marketing is most accurate?

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.






Answer: E

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

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 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. E. employ a spokesperson to open a yogurt bar.








Answer: B

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

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






Answer: C

Few consumers pay cash when they purchase a home. To do so would require the average consumer to save money for many, many years. Instead, most consumers take out a bank mortgage on their home-and make monthly payments until the house is paid off. By offering home mortgages, banks enable consumers to buy homes much sooner than they otherwise could. In essence, the bank is a marketer providing _____ utility.

Few consumers pay cash when they purchase a home. To do so would require the average consumer to save money for many, many years. Instead, most consumers take out a bank mortgage on their home-and make monthly payments until the house is paid off. By offering home mortgages, banks enable consumers to buy homes much sooner than they otherwise could. In essence, the bank is a marketer providing _____ utility.



A) form
B) time
C) price
D) possession
E) place






Answer: B

In an agreement with a South African fruit growers cooperative, UPS has contracted to transport its produce to supermarkets in Great Britain. In marketing terminology the people who buy the fruit from the supermarkets are examples of ______.

In an agreement with a South African fruit growers cooperative, UPS has contracted to transport its produce to supermarkets in Great Britain. In marketing terminology the people who buy the fruit from the supermarkets are examples of ______.



A) households
B) ultimate consumers
C) narrow markets
D) organizational users
E) organizational buyers







Answer: B

The societal marketing concept is most closely related to:

The societal marketing concept is most closely related to:



A) the controllable forces within an organization's environment.
B) social responsibility.
C) Micro-marketing.
D) the economic infrastructure.
E) Macro-marketing.








Answer: B

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

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




A) marketing concept
B) production
C) sales
D) societal marketing concept
E) consumerism







Answer: C

Which of the following statements about the sales era of Canadian business history is true?

Which of the following statements about the sales era of Canadian business history is true?



A) During the sales era, demand and supply were equal.
B) Customer relationship management first appeared during the sales era.
C) Competition increased; firms hired more salespeople
D) During the sales era, organizations typically had a market orientation.
E) During the sales era, companies cut their sales force.







Answer: C

Monsanto's CEO believes the world is a closed system whose limits are already pushing in on us. As a result, he wants to transform Monsanto into a biotech powerhouse capable of helping feed the planet's exploding population at the same time it heals a damaged environment. This desire means that he:

Monsanto's CEO believes the world is a closed system whose limits are already pushing in on us. As a result, he wants to transform Monsanto into a biotech powerhouse capable of helping feed the planet's exploding population at the same time it heals a damaged environment. This desire means that he:



A) wants the organization to adopt the societal marketing concept.
B) does not consider all the elements of the marketing mix to be equally important.
C) is more concerned with time, place, and possession utilities than form utility.
D) has a production-orientation.
E) does not worry about the competition.





Answer: A

Which of the following statements describes an environmental factor?

Which of the following statements describes an environmental factor?



A) Legislation requiring children under four to use car seats.
B) A car battery comes with a lifetime guarantee.
C) An automobile offers a $500.00 rebate.
D) Tupperware has more than 200,000 independent contractor dealers who market its entire product line.
E) A major bottler offers a 10-cent refund on returnable bottles.








Answer: A

The four Ps are commonly known as:

The four Ps are commonly known as:



A) the environmental or uncontrollable factors.
B) the environmental or controllable factors.
C) the marketing mix or controllable factors.
D) the marketing mix or uncontrollable factors.
E) product, price, promotion, and process.







Answer: C

In a 2001 agreement with a South African fruit growers cooperative, UPS has contracted to transport its produce to supermarkets in Great Britain. This directly relates to which element of the marketing mix?

In a 2001 agreement with a South African fruit growers cooperative, UPS has contracted to transport its produce to supermarkets in Great Britain. This directly relates to which element of the marketing mix?



A) promotion
B) price
C) place
D) product
E) form







Answer: C

Stark Brothers nursery has patented a group of miniature fruit trees that can grow in containers and produce full-sized fruit as long as they are able to get full sunlight. The brochure the nursery sends out to inform prospective customers about the miniature trees is part of the _____ element of the marketing mix.

Stark Brothers nursery has patented a group of miniature fruit trees that can grow in containers and produce full-sized fruit as long as they are able to get full sunlight. The brochure the nursery sends out to inform prospective customers about the miniature trees is part of the _____ element of the marketing mix.



A) promotion
B) price
C) place
D) product
E) process






Answer: A

Stark Brothers nursery has patented a group of miniature fruit trees that can grow in containers and produce full-sized fruit as long as they are able to get full sunlight. The __________ for this miniature fruit tree is gardeners who do not have the space for a full-size tree because they either live in an apartment or a home with a very small lot.

Stark Brothers nursery has patented a group of miniature fruit trees that can grow in containers and produce full-sized fruit as long as they are able to get full sunlight. The __________ for this miniature fruit tree is gardeners who do not have the space for a full-size tree because they either live in an apartment or a home with a very small lot.



A) marketing mix
B) market aggregation strategy
C) marketing program
D) service-orientation.
E) target market






Answer: E

Alex is three-years old; he has a very limited number of foods that he will eat. His mother will often fill his plate with one small helping of an item that he really likes and one small helping of an item he doesn't like. To get more macaroni and cheese, he must eat his green beans. In marketing terms, the macaroni and cheese is an example of a __________ because it is something he has learned to like.

Alex is three-years old; he has a very limited number of foods that he will eat. His mother will often fill his plate with one small helping of an item that he really likes and one small helping of an item he doesn't like. To get more macaroni and cheese, he must eat his green beans. In marketing terms, the macaroni and cheese is an example of a __________ because it is something he has learned to like.



A) desire
B) need
C) predilection
D) preference
E) Want






Answer: E

The first objective in marketing is:

The first objective in marketing is:



A) brainstorming.
B) promotion of product to make consumers aware of its existence.
C) product innovation.
D) creating a mission statement.
E) discovering the needs of prospective consumers.




Answer: E

Nitsa is a big fan of the Vancouver Canucks. She lives in Regina, and was previously unable to buy select team merchandise unless she traveled to Vancouver. She recently learned that the NHL team had a complete team catalogue from which she could purchase team-related merchandise. For Nitsa, this catalogue created __________ utility.

Nitsa is a big fan of the Vancouver Canucks. She lives in Regina, and was previously unable to buy select team merchandise unless she traveled to Vancouver. She recently learned that the NHL team had a complete team catalogue from which she could purchase team-related merchandise. For Nitsa, this catalogue created __________ utility.



A) Form
B) place
C) possession
D) price
E) promotion








Answer: B

The paper manufacturer sells rolls of paper to the newspaper publishing company so that the newspaper can publish a daily paper. The paper is purchased from newspaper boxes and convenience stores by individuals who are interested in reading about news, entertainment, sports, etc. People who buy newspapers in order to read the articles are examples of what type of market?

The paper manufacturer sells rolls of paper to the newspaper publishing company so that the newspaper can publish a daily paper. The paper is purchased from newspaper boxes and convenience stores by individuals who are interested in reading about news, entertainment, sports, etc. People who buy newspapers in order to read the articles are examples of what type of market?



A) ultimate consumers
B) institutional markets
C) organizational buyers
D) government markets
E) resellers






Answer: A

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

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



A) a teacher buying paper to use at home
B) a computer programmer buying the latest game for his Playstation
C) a store owner buying hand-painted slate signs to sell in her store
D) a store owner buying a hand-made piece of furniture for her living room
E) a baseball player buying a t-ball set for his daughter







Answer: C

According to the societal marketing concept, ______________ should discover and satisfy the needs of the consumers in a way that also provides for society's well-being?

According to the societal marketing concept, ______________ should discover and satisfy the needs of the consumers in a way that also provides for society's well-being?




A) the organization itself
B) the individual consumers
C) regulatory bodies
D) marketing researchers
E) competitive forces






Answer: A

As organizations have changed their orientation, society's expectations of marketers have also changed. Today, the emphasis of marketing practice has shifted from a focus on __________ to a focus on consumer needs.

As organizations have changed their orientation, society's expectations of marketers have also changed. Today, the emphasis of marketing practice has shifted from a focus on __________ to a focus on consumer needs.



A) social responsibilities
B) government regulation
C) producers' interests
D) suppliers' interests
E) competitive activity






Answer: C

An organization should strive to satisfy the needs of the consumer while also trying to achieve the organization's goals. The previous statement reflects the primary focus of the ______________ era.

An organization should strive to satisfy the needs of the consumer while also trying to achieve the organization's goals. The previous statement reflects the primary focus of the ______________ era.



A) sales
B) production
C) marketing concept
D) societal marketing concept
E) consumerism






Answer: C

Which of the following statements about environmental factors is true?

Which of the following statements about environmental factors is true?




A) Environmental factors may restrict an organization's opportunities.
B) Environmental factors may enhance an organization's opportunities.
C) Environmental factors are also called uncontrollable factors.
D) Environmental factors include social, economic, technological, competitive, and regulatory forces.
E) All of the above statements about environmental factors are true.







Answer: E

3M innovators developed Scotchbrite Never Rust Wool Soap Pads from recycled plastic bottles. These soap pads are more expensive than competitors such as S.O.S. but are also superior because Scotchbrite Never Rust Wool Soap Pads don't rust or scratch. This solution:

3M innovators developed Scotchbrite Never Rust Wool Soap Pads from recycled plastic bottles. These soap pads are more expensive than competitors such as S.O.S. but are also superior because Scotchbrite Never Rust Wool Soap Pads don't rust or scratch. This solution:




A) is environmentally friendly, socially responsible, and competitive.
B) offsets the cost of improving the environmental impact.
C) increases consumer value.
D) is ethical and socially responsible.
E) is accurately described by all of the above.





Answer: E


Fans of Vancouver's professional hockey and football clubs can buy team merchandise through a new catalogue retailer called Team BC. The company is trying to figure out how to increase awareness and ensure that fans are anticipating their receipt of this catalogue. Executing this goal would most likely involve the __________ element of the marketing mix.

Fans of Vancouver's professional hockey and football clubs can buy team merchandise through a new catalogue retailer called Team BC. The company is trying to figure out how to increase awareness and ensure that fans are anticipating their receipt of this catalogue. Executing this goal would most likely involve the __________ element of the marketing mix.




A) price
B) process
C) place
D) production
E) promotion






Answer: E

Fans of Vancouver's professional hockey and football clubs can buy team merchandise through a new catalogue retailer called Team BC. The catalogue carries everything a fan might want from lapel pins priced at $5 to leather jackets priced at $4,800. The catalogue was mailed to males between the ages of 23 and 44 who live in Southern B.C. This group of individuals represent Team BC's:

Fans of Vancouver's professional hockey and football clubs can buy team merchandise through a new catalogue retailer called Team BC. The catalogue carries everything a fan might want from lapel pins priced at $5 to leather jackets priced at $4,800. The catalogue was mailed to males between the ages of 23 and 44 who live in Southern B.C. This group of individuals represent Team BC's:



A) marketing mix.
B) market aggregation strategy.
C) marketing program.
D) service-orientation.
E) target market.







Answer: E

A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. Inside the refrigerator, they find various options including soft drinks, fruit drinks, sport drinks and bottles of Sunny Delight. The ad then shows the teens happily selecting Sunny Delight over the other product offerings. This form of advertising appeals to consumer __________ for liquid and attempts to shape consumer __________ for the advertised product.

A television advertisement shows several teenagers searching through the refrigerator for something to quench their thirst. Inside the refrigerator, they find various options including soft drinks, fruit drinks, sport drinks and bottles of Sunny Delight. The ad then shows the teens happily selecting Sunny Delight over the other product offerings. This form of advertising appeals to consumer __________ for liquid and attempts to shape consumer __________ for the advertised product.



A) wants; needs
B) wants; preferences
C) preferences; needs
D) needs; wants
E) needs; preferences






Answer: D

When the Eastman Kodak Company concerns itself with disposal of its film packages in national parks by promoting the slogan "Take only pictures, leave only footprints," it is acting in accordance with:

When the Eastman Kodak Company concerns itself with disposal of its film packages in national parks by promoting the slogan "Take only pictures, leave only footprints," it is acting in accordance with:



A) the profit motive.
B) the social responsibility concept.
C) its internal environment.
D) its regulatory environment.
E) corporate downsizing.






Answer: B

Which of the following represents a prospective customer in the marketing process?

Which of the following represents a prospective customer in the marketing process?



A) Alan, a bachelor who wants to buy a new computer
B) Michelle, a homemaker and mother of three shopping for groceries
C) IBM, which purchases office supplies
D) Loblaws, which works with many vendors to stock the shelves of their stores
E) all of the above






Answer: E

Organizational buyers are:

Organizational buyers are:



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

Ultimate consumers are:

Ultimate consumers are:



The people (even babies!) who actually use the product or services purchased.

Many companies subscribe to being "green" because they feel that this is valued by the consumer. Yet, often in these same firms, office computers are left on 24 hours a day, office paper is not recycled, and employees are not encouraged to take public transportation to work. This example indicates it is not always easy for firms to act in accordance with the

Many companies subscribe to being "green" because they feel that this is valued by the consumer. Yet, often in these same firms, office computers are left on 24 hours a day, office paper is not recycled, and employees are not encouraged to take public transportation to work. This example indicates it is not always easy for firms to act in accordance with the




Answer: marketing concept.

The societal marketing concept is:

The societal marketing concept is:



The view that an organization should satisfy the needs of consumers in a way that provides for society's well-being.

Customer experience is defined as:

Customer experience is defined as:



The internal response that customers have to all aspects of an organization and its offering.

Customer Relationship Management refers to:

Customer Relationship Management refers to:




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.

Marketing concept is defined as:

Marketing concept is defined as:



The idea that an organization should

1) satisfy the needs of consumers while also
2) trying to achieve the organization's goals.

Market segments are defined as:

Market segments are defined as:




Relatively homogeneous groups of prospective buyers that

1) have common needs and
2) will respond similarly to a marketing action.

Marketing program is defined as:

Marketing program is defined as:



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

Relationship marketing is defined as:

Relationship marketing is defined as:



The process which links an organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.

Customer value is defined as:

Customer value is defined as:




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.

Customer value proposition is defined as:

Customer value proposition is defined as:



Answer: A cluster of benefits that an organization promises customers to satisfy their needs.

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

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




Answer: target market

A target market refers to:

A target market refers to:



Answer: One or more specific groups of potential consumers toward which an organization directs its marketing program.

A market refers to:

A market refers to:




Answer: People with the desire and ability to buy a specific offering.

A want refers to:

A want refers to:



Answer: a felt need that is shaped by a person's knowledge, culture, or individual personality.

A need refers to:

A need refers to:




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

For marketing to occur, what four factors are required?

For marketing to occur, what four factors are required?




1) Two or more parties with unsatisfied needs
2) A desire and ability on their part to have their needs satisfied
3) A way for the parties to communicate
4) Something to exchange

A church has put advertisements in its weekly bulletins to encourage its members to participate in the services by reading. Jack volunteered and read during a service. He felt satisfied and felt he was contributing to his church. Was this a marketing exchange?

A church has put advertisements in its weekly bulletins to encourage its members to participate in the services by reading. Jack volunteered and read during a service. He felt satisfied and felt he was contributing to his church. Was this a marketing exchange?




Answer: Yes, because reading at the service was exchanged for a feeling of satisfaction.

The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Amanda returned home feeling happy that she had performed a good deed. Was this a marketing exchange?

The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Amanda returned home feeling happy that she had performed a good deed. Was this a marketing exchange?




Answer: Yes, because the donated blood was exchanged for a feeling of satisfaction .

Subscribe to: Posts (Atom)