Question 1

To become a more value-driven organization,Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires.By doing so,Pokrah University is becoming more value driven through

Accepted Answer

A)   sharing information across the organization.
B)   balancing its customers' benefits and costs.
C)   evaluating strategic competitive partnerships.
D)   building relationships with customers.
E)   keeping the faculty members happy.F) A) and B)
G) All of the above D

Question 2

Yolanda is the new restaurant manager in a major hotel.When considering changes in the restaurant that will increase value to customers,Yolanda will likely attempt to either provide the same quality at a lower cost or

Accepted Answer

A)   improve products and services at the same cost.
B)   increase prices to increase revenue.
C)   offset higher hotel rates with lower restaurant prices.
D)   reduce customer expectations through reduced service.
E)   lower the quality and the price.F) C) and D)
G) A) and E)

Question 3

The marketing goal of getting the "right quantities to the right locations,at the right time" relates to

Accepted Answer

A)   communicating the value proposition.
B)   managing the supply chain.
C)   performing service marketing.
D)   capturing value.
E)   managing price and performance.F) C) and D)
G) B) and E)

Question 4

As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from __________ to __________ marketing.

Accepted Answer

A)   B2C; B2B
B)   B2C; C2C
C)   B2B; B2C
D)   B2B; C2C
E)   C2C; B2CF) None of the above
G) D) and E)

Question 5

A local art gallery keeps information on its customers regarding their preferences for certain artists as well as the style of art that interests them.The gallery uses this information to inform the customers when new products arrive from their favorite artists and targets them with special promotions.In this way,the gallery is using _______ to build loyalty among its customers.

Accepted Answer

A)   value cocreation
B)   customer relationship management
C)   transactional marketing
D)   B2B marketing
E)   the supply chainF) A) and B)
G) B) and E)

Question 6

Margo likes her morning coffee,and she always stops at Starbucks because it is on her way to work.Margo is being influenced by the place element of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 7

People who organize,operate,and assume the risk of a business venture are called

Accepted Answer

A)   entrepreneurs.
B)   leaders.
C)   managers.
D)   professionals.
E)   consultants.F) C) and E)
G) B) and D)

Question 8

According to your text,in the broadest terms,the "marketplace" refers to

Accepted Answer

A)   wholesale and retail environments.
B)   brick-and-mortar stores and the Internet.
C)   the four Ps.
D)   channels that are accessible to a given customer.
E)   the world of trade.F) A) and B)
G) C) and D)

Question 9

You are employed by a marketing firm that needs to become more value driven.How is this accomplished?

Accepted Answer

Firms become value driven by focusing on...

Question 10

In the past,manufacturer's representatives did not have real-time inventory data about the products they were selling.Today,manufacturer's representatives are often provided online access to inventory data for the companies they represent.These online inventory systems allow companies to become more value driven by

Accepted Answer

A)   sharing information across the organization.
B)   balancing customers' benefits and costs.
C)   evaluating strategic competitive partnerships.
D)   building relationships with government regulators of marketing institutions.
E)   keeping prices below those charged by competitors.F) C) and D)
G) B) and C)

Question 11

Describe how marketing has evolved into a major business function that crosses all areas of a firm or organization.

Accepted Answer

Marketing advises production about how much of the company's product to make and then tells supply chain mangers when to ship it.It creates long-lasting,mutually valuable relationships between the company and the firms from which it buys.It identifies those elements that local customers value and makes it possible for the firm to expand globally.Marketing has had a significant impact on consumers as well.Without marketing,it would be difficult for any of us to learn about new products and services.

Question 12

The "onboard,online retail business" refers to

Accepted Answer

A)   the options airlines offer passengers to upgrade their seat to first class.
B)   the options airlines offer passengers to change their destination.
C)   the options airlines offer passengers to connect to Facebook and Twitter.
D)   the options airlines offer passengers to shop through their mobile devices while they fly toward their destination.
E)   the options airlines offer passengers to purchase food and beverages while on their flight.F) B) and D)
G) B) and C)

Question 13

The text states,"Good marketing is not a random activity." Create an example to respond to this statement.

Accepted Answer

Answers will vary,but should i...

Question 14

___________ represents all the activities necessary to get the product to the right customer when that customer wants it.

Accepted Answer

A)   Place
B)   Promotion
C)   Social media
D)   Value cocreation
E)   Supply chain marketingF) B) and E)
G) B) and C)

Question 15

What are the four Ps of marketing? Give an example of each.

Accepted Answer

Product,price,place,...

Question 16

The basic difference between a good and a service is that a good

Accepted Answer

A)   provides intangible benefits.
B)   can be physically touched.
C)   is always less expensive than a corresponding service.
D)   generates greater interest among consumers.
E)   is more quickly forgotten by consumers.F) A) and E)
G) A) and D)

Question 17

Supply chain management is the set of approaches and techniques that firms employ to efficiently and effectively integrate their suppliers,manufacturers,warehouses,stores,and other firms involved in the transaction into a seamless value chain in which merchandise is produced and distributed in the right quantities,to the right locations,and at the right time.

Accepted Answer

A) True 
 B)False

Question 18

The "Milk Life" advertising campaign,designed to increase awareness of the health benefits of milk,was intended to help market a(n)

Accepted Answer

A)   service.
B)   firm.
C)   industry.
D)   organization.
E)   specific product.F) D) and E)
G) A) and B)

Question 19

The four Ps make up the marketing mix,which is the __________ set of decisions or activities that the firm uses to respond to the wants of its target markets.

Accepted Answer

A)   unpredictable
B)   external
C)   internal
D)   controllable
E)   globalF) A) and B)
G) None of the above D

Question 20

The fundamental goal of marketers when creating goods,services,or combinations of both is to

Accepted Answer

A)   defeat the competition.
B)   serve all consumers.
C)   operate according to government regulations.
D)   stimulate short-term sales.
E)   create value.F) A) and E)
G) A) and B)

Exam 1: Overview of Marketing

To become a more value-driven organization,Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires.By doing so,Pokrah University is becoming more value driven through

Correct Answer
verified
D

Yolanda is the new restaurant manager in a major hotel.When considering changes in the restaurant that will increase value to customers,Yolanda will likely attempt to either provide the same quality at a lower cost or

Correct Answer
verified

The marketing goal of getting the "right quantities to the right locations,at the right time" relates to

Correct Answer
verified

As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from to marketing.

Correct Answer
verified

Correct Answer
verified

Margo likes her morning coffee,and she always stops at Starbucks because it is on her way to work.Margo is being influenced by the place element of the marketing mix.

Correct Answer
verified

People who organize,operate,and assume the risk of a business venture are called

Correct Answer
verified

According to your text,in the broadest terms,the "marketplace" refers to

Correct Answer
verified

You are employed by a marketing firm that needs to become more value driven.How is this accomplished?

Correct Answer
verified
Firms become value driven by focusing on...
View Answer

Correct Answer
verified

Describe how marketing has evolved into a major business function that crosses all areas of a firm or organization.

The "onboard,online retail business" refers to

Correct Answer
verified

The text states,"Good marketing is not a random activity." Create an example to respond to this statement.

Correct Answer
verified
Answers will vary,but should i...
View Answer

___________ represents all the activities necessary to get the product to the right customer when that customer wants it.

Correct Answer
verified

What are the four Ps of marketing? Give an example of each.

Correct Answer
verified
Product,price,place,...
View Answer

The basic difference between a good and a service is that a good

Correct Answer
verified

Correct Answer
verified

The "Milk Life" advertising campaign,designed to increase awareness of the health benefits of milk,was intended to help market a(n)

Correct Answer
verified

The four Ps make up the marketing mix,which is the __________ set of decisions or activities that the firm uses to respond to the wants of its target markets.

Correct Answer
verified
D

The fundamental goal of marketers when creating goods,services,or combinations of both is to

Correct Answer
verified

Exam 1: Overview of Marketing

To become a more value-driven organization,Pokrah University is holding regular coffee-hour discussions with its students and surveying its graduates regarding students' educational needs and desires.By doing so,Pokrah University is becoming more value driven through

Correct AnswerverifiedD

Yolanda is the new restaurant manager in a major hotel.When considering changes in the restaurant that will increase value to customers,Yolanda will likely attempt to either provide the same quality at a lower cost or

Correct AnswerverifiedShow Answer

The marketing goal of getting the "right quantities to the right locations,at the right time" relates to

Correct AnswerverifiedShow Answer

As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from __________ to __________ marketing.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Margo likes her morning coffee,and she always stops at Starbucks because it is on her way to work.Margo is being influenced by the place element of the marketing mix.

Correct AnswerverifiedShow Answer

People who organize,operate,and assume the risk of a business venture are called

Correct AnswerverifiedShow Answer

According to your text,in the broadest terms,the "marketplace" refers to

Correct AnswerverifiedShow Answer

You are employed by a marketing firm that needs to become more value driven.How is this accomplished?

Correct AnswerverifiedFirms become value driven by focusing on...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Describe how marketing has evolved into a major business function that crosses all areas of a firm or organization.

The "onboard,online retail business" refers to

Correct AnswerverifiedShow Answer

The text states,"Good marketing is not a random activity." Create an example to respond to this statement.

Correct AnswerverifiedAnswers will vary,but should i...View AnswerShow Answer

___________ represents all the activities necessary to get the product to the right customer when that customer wants it.

Correct AnswerverifiedShow Answer

What are the four Ps of marketing? Give an example of each.

Correct AnswerverifiedProduct,price,place,...View AnswerShow Answer

The basic difference between a good and a service is that a good

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The "Milk Life" advertising campaign,designed to increase awareness of the health benefits of milk,was intended to help market a(n)

Correct AnswerverifiedShow Answer

The four Ps make up the marketing mix,which is the __________ set of decisions or activities that the firm uses to respond to the wants of its target markets.

Correct AnswerverifiedD

The fundamental goal of marketers when creating goods,services,or combinations of both is to

Correct AnswerverifiedShow Answer

Correct Answer
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D

Correct Answer
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Correct Answer
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As use of the Internet took off,car manufacturers were tempted to sell directly to consumers,but decided instead to continue to sell through their existing dealer networks.The car manufacturers considered switching from to marketing.

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Firms become value driven by focusing on...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary,but should i...
View Answer

Correct Answer
verified

Correct Answer
verified
Product,price,place,...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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D

Correct Answer
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