Question 1

The impact on society of TV shows and movies reflects how _ can influence what we consume.

Accepted Answer

A)  the social marketing concept
B)  popular culture
C)  ethical boundaries
D)  subcultures
E)  market convergenceF) B) and E)
G) A) and C)

Question 2

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Accepted Answer

A) True 
 B)False

Question 3

The World's Most Famous Surf Shop could be referred to as either a market or a marketplace because the terms mean the same thing.

Accepted Answer

A) True 
 B)False

Question 4

The second step in developing a competitive advantage is to turn a distinctive competency into a -- one that is important to customers.

Accepted Answer

A)  culture
B)  service
C)  differential benefit
D)  demand
E)  needF) A) and B)
G) B) and C)

Question 5

The element of the marketing mix is used to communicate the value proposition using forms such as personal selling,advertising,coupons,and publicity.

Accepted Answer

A)  production
B)  place
C)  promotion
D)  price
E)  distributionF) B) and E)
G) A) and D)

Question 6

Why must a firm also be aware of its competitive advantage and distinctive competency regarding its competition?

Accepted Answer

A firm has a competitive advantage when ...

Question 7

To be part of the the consumers must want to own the product and also have the means to obtain it.

Accepted Answer

A)  demand center
B)  market
C)  audience
D)  exchange location
E)  marketplaceF) D) and E)
G) C) and D)

Question 8

is an organizational function and process for creating,communicating,and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Accepted Answer

A)  Popular culture manipulation
B)  Value chain management
C)  Demand satisfaction
D)  Competitive advantage building
E)  MarketingF) B) and C)
G) A) and B)

Question 9

Although a want may be something to eat or drink,the desire for a specific brand name is referred to as a need.

Accepted Answer

A) True 
 B)False

Question 10

The mother didn't want to have a climbing wall as a permanent feature in her backyard,but it was certainly convenient to rent one from the company that catered her twelve- year- old son's birthday party.The catering company created both utility when it rented her the climbing wall.

Accepted Answer

A)  creation and possession
B)  possession and time
C)  place and creation
D)  form and place
E)  time and placeF) None of the above
G) A) and B)

Question 11

All of the following are forms of utility created by marketing processes EXCEPT .

Accepted Answer

A)  time utility
B)  price utility
C)  form utility
D)  place utility
E)  possession utilityF) D) and E)
G) A) and E)

Question 12

A _ is the outcome sought by a customer that motivates buying behavior that satisfies a need or want.

Accepted Answer

A)  desire
B)  demand
C)  value
D)  benefit
E)  wishF) A) and E)
G) A) and B)

Question 13

When asked to discuss the element of his marketing mix,the artisan said,"My average total cost for making a small leaded glass window is $200,and I typically haggle with my customers.I feel that I have done well if I can earn $150 on each window I sell."

Accepted Answer

A)  distribution
B)  price
C)  promotion
D)  production
E)  costF) B) and D)
G) A) and D)

Question 14

ROI is a marketing acronym for customers who are about to make a purchase to rely on instinct.

Accepted Answer

A) True 
 B)False

Question 15

is the buying and selling of products on the Internet.

Accepted Answer

A)  social network marketing
B)  E- commerce
C)  consumer relationship management
D)  Business- to- business
E)  Consumer relationship managementF) A) and D)
G) A) and C)

Question 16

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

Accepted Answer

A) True 
 B)False

Question 17

Friends connect regularly and enthusiastically into _ online to catch up on friends and exchange photos.

Accepted Answer

A)  differential benefits
B)  open source models
C)  social marketing
D)  social networks
E)  distinctive competenciesF) A) and B)
G) All of the above

Question 18

A _ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.

Accepted Answer

A)  new era
B)  consumer
C)  production
D)  selling
E)  promotionF) A) and C)
G) None of the above

Question 19

Coca- Cola's unique and skillful marketing communications represent Coke's .

Accepted Answer

A)  corporate culture
B)  return on investments
C)  production orientation
D)  customer relationship management
E)  distinctive competencyF) A) and C)
G) A) and D)

Question 20

The dioramas in the airport that Ron Jon could use to advertise The World's Most Famous Surf is an example of the element of the marketing mix.

Accepted Answer

A)  place
B)  promotion
C)  production
D)  price
E)  distributionF) A) and B)
G) All of the above

Exam 1: Welcome to the World of Marketing: Createand Deliver Value

To be part of the the consumers must want to own the product and also have the means to obtain it.

Correct AnswerverifiedShow Answer

The impact on society of TV shows and movies reflects how _ can influence what we consume.

Correct AnswerverifiedShow Answer

Why must a firm also be aware of its competitive advantage and distinctive competency regarding its competition?

Correct AnswerverifiedA firm has a competitive advantage when ...View AnswerShow Answer

A _ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.

Correct AnswerverifiedShow Answer

The second step in developing a competitive advantage is to turn a distinctive competency into a -- one that is important to customers.

Correct AnswerverifiedShow Answer

ROI is a marketing acronym for customers who are about to make a purchase to rely on instinct.

Correct AnswerverifiedShow Answer

When asked to discuss the element of his marketing mix,the artisan said,"My average total cost for making a small leaded glass window is $200,and I typically haggle with my customers.I feel that I have done well if I can earn $150 on each window I sell."

Correct AnswerverifiedShow Answer

The mother didn't want to have a climbing wall as a permanent feature in her backyard,but it was certainly convenient to rent one from the company that catered her twelve- year- old son's birthday party.The catering company created both utility when it rented her the climbing wall.

Correct AnswerverifiedShow Answer

Coca- Cola's unique and skillful marketing communications represent Coke's .

Correct AnswerverifiedShow Answer

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Correct AnswerverifiedShow Answer

Friends connect regularly and enthusiastically into _ online to catch up on friends and exchange photos.

Correct AnswerverifiedShow Answer

The World's Most Famous Surf Shop could be referred to as either a market or a marketplace because the terms mean the same thing.

Correct AnswerverifiedShow Answer

The element of the marketing mix is used to communicate the value proposition using forms such as personal selling,advertising,coupons,and publicity.

Correct AnswerverifiedShow Answer

is an organizational function and process for creating,communicating,and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Correct AnswerverifiedShow Answer

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

Correct AnswerverifiedShow Answer

is the buying and selling of products on the Internet.

Correct AnswerverifiedShow Answer

A _ is the outcome sought by a customer that motivates buying behavior that satisfies a need or want.

Correct AnswerverifiedShow Answer

All of the following are forms of utility created by marketing processes EXCEPT .

Correct AnswerverifiedShow Answer

The dioramas in the airport that Ron Jon could use to advertise The World's Most Famous Surf is an example of the element of the marketing mix.

Correct AnswerverifiedShow Answer

Although a want may be something to eat or drink,the desire for a specific brand name is referred to as a need.

Correct AnswerverifiedShow Answer

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A firm has a competitive advantage when ...
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