Question 1

Which of the following is most likely to be an idea marketer?

Accepted Answer

A)  Car salesperson
B)  Airline pilot
C)  Attorney
D)  Abuse counselor
E)  OrthodontistF) All of the above
G) A) and B)

Question 2

Distribution,price,promotion,and product are all elements of

Accepted Answer

A)  marketing strategy.
B)  the marketing mix.
C)  a target market.
D)  a consumer good.
E)  a business strategy.F) C) and E)
G) A) and B)

Question 3

Value = customer costs - customer benefits.

Accepted Answer

A) True 
 B)False

Question 4

Marketing efforts do not involve the design and development of products.

Accepted Answer

A) True 
 B)False

Question 5

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

Accepted Answer

A)  Product adaptations
B)  Pricing strategies
C)  Government regulations
D)  Advertising campaigns
E)  Retail locationsF) A) and B)
G) None of the above

Question 7

Marketing is the process of

Accepted Answer

A)  promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders.
B)  creating,distributing,promoting,and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.
C)  delivering a standard of living to a society.
D)  creating,distributing,promoting,and pricing goods,services,and ideas to facilitate the achievement of the firm's objectives.
E)  focusing on customers' needs.F) D) and E)
G) A) and B)

Question 8

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Accepted Answer

The answer of What are the three ways that marketing...

Question 9

The actual physical production of goods is a marketing activity.

Accepted Answer

A) True 
 B)False

Question 10

U.S.Electric,the maker of a highly innovative xenon light bulb used in large,manufacturing facilities,finds that it has excess inventory.The firm increases its direct marketing budget by 20 percent and adds three new sales representatives.This company is operating as if it were in which of the following orientations?

Accepted Answer

A)  Production
B)  Sales
C)  Market
D)  Customer
E)  SocietalF) A) and C)
G) B) and D)

Question 11

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

Accepted Answer

A)  Marketing orientation
B)  Monetary price
C)  Product assessment
D)  Price assessment
E)  ValueF) All of the above
G) C) and E)

Question 12

Which of the following best describes the acceptance of the marketing concept by American organizations?

Accepted Answer

A)  The marketing concept has yet to be fully accepted by all organizations.
B)  All organizations fully utilize the marketing concept to run their businesses.
C)  Nearly half of all organizations are still in the sales orientation and have not implemented the marketing concept.
D)  Most organizations have really not accepted the marketing concept because of its many costs and problems.
E)  Although American organizations fully accept the marketing concept,many foreign companies do not.F) B) and C)
G) None of the above

Question 13

The marketing concept deals only with marketing activities.

Accepted Answer

A) True 
 B)False

Question 14

In managing customer relationships,the three primary ways profits can be obtained are by

Accepted Answer

A)  acquiring new customers,enhancing the profitability of new customers,and shortening the duration of relationships with existing customers.
B)  enhancing the profitability of existing customers,eliminating customers who provide smaller profits,and finding new customers.
C)  extending the length of relationships with customers,cutting organizational costs,and enhancing the profitability of new customers.
D)  eliminating long-term customers who have decreased purchases,finding new customers,and increasing sales to existing customers.
E)  enhancing the profitability of existing customers,extending the duration of relationships with customers,and obtaining new customers.F) D) and E)
G) A) and C)

Question 15

Define the term value,and explain how people determine a product's value.

Accepted Answer

The answer of Define the term value,and explain how people...

Question 16

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

Accepted Answer

A)  demographics
B)  buying behavior
C)  retailer information
D)  personality differences
E)  stock market cyclesF) B) and D)
G) None of the above

Question 17

Ben is responsible for managing the customer satisfaction of Hampton Inn motel guests.Ben is currently analyzing the customer relationship management (CRM) program at Hampton Inn and is contemplating where he should begin making changes.Which of the following would be the beginning of a CRM program,and therefore the area Ben should consider first?

Accepted Answer

A)  communicating with current customers via Facebook.
B)  offering new types of hotel rooms for frequent guests.
C)  expanding the number and locations of Hampton Inns.
D)  providing information to customers through the web,Facebook,or in person.
E)  increasing the promotion budget with a new sweepstakes for frequent customers.F) A) and B)
G) A) and C)

Question 18

For a business organization to remain healthy and to survive,it must sell products and make profits.

Accepted Answer

A) True 
 B)False

Question 19

Profit,even at the expense of customers' satisfaction,is the major thrust of the marketing concept.

Accepted Answer

A) True 
 B)False

Question 20

Marketing facilitates exchange relationships between buyers and sellers.What is marketing's intended outcome for this relationship?

Accepted Answer

A)  Profits for the seller
B)  A good bargain on the product for the buyer
C)  Reducing the seller's inventory
D)  One party having to compromise in the exchange
E)  Satisfaction for both the buyer and sellerF) C) and D)
G) None of the above

Exam 1: An Overview of Strategic Marketing

Profit,even at the expense of customers' satisfaction,is the major thrust of the marketing concept.

Correct Answer
verified

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

Correct Answer
verified

Marketing facilitates exchange relationships between buyers and sellers.What is marketing's intended outcome for this relationship?

Correct Answer
verified

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

Correct Answer
verified

Which of the following best describes the acceptance of the marketing concept by American organizations?

Correct Answer
verified

Distribution,price,promotion,and product are all elements of

Correct Answer
verified

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

Correct Answer
verified

Which of the following is most likely to be an idea marketer?

Correct Answer
verified

Define the term value,and explain how people determine a product's value.

Correct Answer
verified

The actual physical production of goods is a marketing activity.

Correct Answer
verified

For a business organization to remain healthy and to survive,it must sell products and make profits.

Correct Answer
verified

The marketing concept deals only with marketing activities.

Correct Answer
verified

Value = customer costs - customer benefits.

Correct Answer
verified

Correct Answer
verified

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Correct Answer
verified

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

Correct Answer
verified

Marketing efforts do not involve the design and development of products.

Correct Answer
verified

Marketing is the process of

Correct Answer
verified

Correct Answer
verified

In managing customer relationships,the three primary ways profits can be obtained are by

Correct Answer
verified

Exam 1: An Overview of Strategic Marketing

Profit,even at the expense of customers' satisfaction,is the major thrust of the marketing concept.

Correct AnswerverifiedShow Answer

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

Correct AnswerverifiedShow Answer

Marketing facilitates exchange relationships between buyers and sellers.What is marketing's intended outcome for this relationship?

Correct AnswerverifiedShow Answer

Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable marketing practices.

Correct AnswerverifiedShow Answer

Which of the following best describes the acceptance of the marketing concept by American organizations?

Correct AnswerverifiedShow Answer

Distribution,price,promotion,and product are all elements of

Correct AnswerverifiedShow Answer

Managing customer relationships requires identifying patterns of ____ and then using that information to focus on the most promising and profitable customers.

Correct AnswerverifiedShow Answer

Which of the following is most likely to be an idea marketer?

Correct AnswerverifiedShow Answer

Define the term value,and explain how people determine a product's value.

Correct AnswerverifiedShow Answer

The actual physical production of goods is a marketing activity.

Correct AnswerverifiedShow Answer

For a business organization to remain healthy and to survive,it must sell products and make profits.

Correct AnswerverifiedShow Answer

The marketing concept deals only with marketing activities.

Correct AnswerverifiedShow Answer

Value = customer costs - customer benefits.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What are the three ways that marketing environment forces affect a marketer's ability to create satisfying exchange relationships?

Correct AnswerverifiedShow Answer

Which of the following is essentially an uncontrollable factor in developing a marketing mix?

Correct AnswerverifiedShow Answer

Marketing efforts do not involve the design and development of products.

Correct AnswerverifiedShow Answer

Marketing is the process of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In managing customer relationships,the three primary ways profits can be obtained are by

Correct AnswerverifiedShow Answer

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