Download Marketing Chapter 1 Customer Relationships and Value Professor

Marketing
Chapter 1
Professor Myles Bassell
Customer Relationships and Value
page 1
The correct answer for each question is indicated by a
1
1
David Windorski, a 3M inventor wanted to
A) make a name for himself within 3M.
B) spy on students to see how they study.
take an environmentally balanced approach to reach potential
C)
customers.
identify ways to convert his knowledge about student study
D)
habits into a product that could use 3M's technology.
mail product information to all potential customers who otherwise
E)
could not be reached.
Explanation: David Windorski wanted to identify ways to convert his
knowledge about student study habits into a product that would improve
their studying and that could use 3M's technology and be manufactured and
marketed by 3M. Page: 3
2
A)
B)
C)
After Windorski invented the Post-it® Flag Highlighter he went
on to invent restickable 3 inch by 5 inch note cards.
retired.
led a team to develop "screen notes" for the computer.
D)
asked the 3M marketing VP for additional marketing funds to
advertise the new product.
E) worked with celebrities to promote the new product.
Explanation: After Windorski invented the Post-it® Flag Highlighter
he went on to invent restickable 3 inch by 5 inch note cards. Page: 25
Marketing
Chapter 1
Professor Myles Bassell
Customer Relationships and Value
page 2
3
Which of the following statements about marketing activities is true?
Marketing is affected by society and in return affects society as a
A)
whole
The marketing department works closely with other departments and
B)
employees to implement marketing activities.
Marketing activities provide the customer-satisfying products
C)
required for the organization to survive and prosper.
D) Environmental factors affect marketing activities.
E) All of the above statements about marketing activities are true.
Explanation: Although an organization's marketing activity focuses on
assessing and satisfying consumer needs, countless other people, groups, and
forces interact to shape the nature of its activities (Figure 1-2). The
marketing department works closely with a network of other departments
and employees to help provide the customer-satisfying products required for
the organization to survive and prosper. Environmental forces also shape an
organization's marketing activities. Finally, an organization's marketing
decisions are affected by and , in turn, often have an important impact on
society as a whole. Page: 8
4
Which of the following conditions is necessary for marketing to occur?
A) a physical location for an exchange to occur
B) a tangible exchange
C) advertising to express unrealized needs
D) two or more parties with unsatisfied needs
E) all of the above
Explanation:
For marketing to occur, at least four factors are required: (1) two or more
parties (individuals or organizations) with unsatisfied needs, (2) a desire and
ability on their part to be satisfied, (3) a way for the parties to communicate,
and (4) something to exchange. Page: 8
Marketing
Chapter 1
Professor Myles Bassell
Customer Relationships and Value
page 3
5
A television advertisement shows several teenagers searching through the
refrigerator for something to quench their thirst. The refrigerator offers the
youngsters many alternatives—soft drinks, fruit drinks, sport drinks and
bottles of Sunny Delight drink. The ad, which shows the teens happily
selecting Sunny Delight over all the other product offerings, appeals to the
consumers' __________ for liquid and attempts to shape consumers'
__________ for the advertised product.
A) wants; needs
B) wants; preferences
C) preferences; needs
D) needs; wants
E) needs; preferences
Explanation:
A need occurs when a person feels physiologically deprived of a basic
necessity (i.e., food, water, clothing, and shelter). A want is a felt need that is
shaped by a person's knowledge, experience, culture, or personality. A need
is necessary; a want is a learned preference for a specific item that satisfies
the consumer's need.
Page: 11
6
A marketing manager's controllable factors—product, price, promotion, and
place—are the company's:
A) environmental factors.
B) marketing program.
C) marketing mix factors.
D) marketing concept.
E) four utilities.
Explanation: marketing mix. Page: 13
Marketing
Chapter 1
Professor Myles Bassell
Customer Relationships and Value
page 4
7
Fans of Los Angeles' professional basketball and hockey teams can buy team
merchandise through a new catalog retailer called Team LA. The catalog
carries everything a fan might want from lapel pins priced at $5 to leather
jackets priced at $4,800. The catalog was mailed to males between the ages
of 23 and 44 who live in Southern California. These males describe the
catalog's:
A) marketing mix.
B) market aggregation strategy.
C) marketing program.
D) service-orientation.
E) target market.
Explanation:
The target market is defined as potential customers toward which an
organization directs its marketing program.
Page: 13
8
Fans of Los Angeles' professional basketball and hockey teams can buy team
merchandise through a new catalog retailer called Team LA. Concern about
how to make sure fans are anticipating their receipt of this catalog would
most likely involve the __________ element of the marketing mix.
A) price
B) process
C) place
D) production
E) promotion
Explanation:
Promotion is concerned with communications between buyer and seller. The
seller wants to make sure that its market knows about its catalog, has access
to it, and uses it to purchase goods.
Page: 13
Marketing
Chapter 1
Professor Myles Bassell
Customer Relationships and Value
page 5
9
In terms of the marketing mix, a television show like Desperate Housewives
is an example of:
A) place.
B) form utility.
C) promotion.
D) product.
E) price.
Explanation:
A television show is a product which offers entertainment in return for
viewership—and, hopefully, support for its sponsor's products.
Page: 13
10
Which of the following statements about environmental factors is true?
Environmental factors have no influence over an organization's
A)
opportunities.
Recent studies have shown that an action-oriented firm still cannot
B)
affect environmental factors in any way.
C) Environmental factors are also called controllable factors.
Environmental factors include social, economic, technological,
D)
competitive, and regulatory forces.
E) All of the above statements about environmental factors are true.