Exam 1: Creating Customer Relationships and Value Through Marketing

A) Goods are physical objects
B) Goods are intangible items
C) Goods are intangible concepts and thoughts about products, actions, or causes
D) Goods look at the flow of an entire nation's goods and services
E) Goods are concern with the marketing activities of an individual or organization

Correct Answer

verified

Show Answer

A) After a new product has failed to meet sales predictions
B) When preparing to launch a new product
C) When repositioning a well-known brand
D) When looking for a new market for an existing product
E) When considering new channels of distribution

Correct Answer

verified

Show Answer

A) marketing concept
B) sales
C) production
D) societal marketing concept
E) market orientation

Correct Answer

verified

Show Answer

A) market aggregation.
B) relationship marketing.
C) industry reciprocity.
D) customer-supplier collaboration.
E) mainstream marketing.

Correct Answer

verified

Show Answer

A) The changing regulatory environment
B) The large number of competitive products on the market
C) The increasing number of retail stores that are closing due to the economy
D) The large number of one-to-one relationships customers are asked to sustain
E) The diluted cultural diversity

Correct Answer

verified

Show Answer

A) the best experience.
B) the best products.
C) the best price.
D) the best service.
E) the best availability.

Correct Answer

verified

Show Answer

A) An iPhone with a large selection of new "apps"
B) The local dairy offers delivery to the customer's doorstep
C) Disposable diapers come equipped with re-sealable tabs
D) A gourmet food store carries a line of ready-made salads
E) A cell phone company offers six-month financing, same as cash

Correct Answer

verified

Show Answer

A) A newspaper reporter who buys a plane ticket to Washington, D.C., to cover the presidential inauguration
B) A school teacher who bought a ticket to the 2010 Winter Olympics opening ceremonies in Vancouver, Canada
C) An office receptionist who renews the magazines that are found in the office waiting room
D) A retailer who buys poster board to make signs for an upcoming store sale
E) A landscaping firm employee who buys a new wheelbarrow to use to haul mulch at a new job site

Correct Answer

verified

Show Answer

A) asking people on the street what type of packaging they prefer.
B) offering alternate product choices on its Web site.
C) conferring with inventors from other divisions of 3M.
D) listening to students' comments, questions, and concerns.
E) using information provided by a professional consulting firm.

Correct Answer

verified

Show Answer

A) it reduces competition, making the playing field more even, so everyone benefits.
B) it improves the quality of products and services regardless of the cost.
C) it allows companies to charge whatever price they want, regardless of product quality.
D) it makes countries more competitive in world markets while simultaneously reducing competition in their home markets.
E) it enhances competition which improves the quality of products and services and lowers their prices.

Correct Answer

verified

Show Answer

A) The adjuster is a prospective customer because the phone will be used for work; the student is only a secondary user since the purpose of the phone is just for entertainment.
B) Both the adjuster and students 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 most likely the company will pay for the adjuster's phone and the student's parents will pay for hers.
D) The student is the prospective customer since there are more students buying phones for personal use than there are insurance adjusters buying phones for business use.
E) Every person who uses a cell phone is a prospective customer whether they receive benefit from the phone or not.

Correct Answer

verified

Show Answer

A) the people who use the goods and services purchased for a household.
B) people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
C) people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
D) one or more specific groups of potential customers toward which an organization directs its marketing program to the exclusion of other potential customers.
E) one or more specific groups of potential customers toward which an organization directs its marketing program.

Correct Answer

verified

Show Answer

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

Correct Answer

verified

Show Answer

Correct Answer

verified

Answers should address all four "Ps." Th...

View Answer

Show Answer

A) other organizations.
B) suppliers.
C) shareholders.
D) customers.
E) other departments.

Correct Answer

verified

Show Answer

Correct Answer

verified

Students' examples will differ, but each...

View Answer

Show Answer

A) The person who buys the magazine to read at home
B) The person who works at Wal-Mart and reads the magazine while stocking it in the rack
C) The person who is the Wal-Mart buyer who purchased the magazine to sell at Wal-Mart
D) The person who is the salesperson for Time Inc.that sold the magazine to Wal-Mart
E) All people, from the writer, to the seller, to the reader at home are ultimate consumers of All You.

Correct Answer

verified

Show Answer

A) a reaction to an unstable economy.
B) a temporary trend that will soon reverse itself.
C) a technological environmental force.
D) a social environmental force.
E) a response to an increase in government regulation.

Correct Answer

verified

Show Answer