A.) Makes Life Easier and Enriches Society

1.) According to Exhibit 1.7: Marketing is important because it?

a.) Makes life easier and enriches society

b.) Expands global presence and can be entrepreneurial

c.) Is pervasive across an organization, as well as a supply chain

d.) All of the above

2.) Which of the following is NOT considered a traditional type of marketing transaction

a.) B2C (business-to-consumer) marketing

b.) B2B (business-to-business) marketing

c. ) C2C (consumer-to-consumer) marketing

d. ) C2B (corporation to business) marketing

3.) Which era focused on satisfying the needs of individual customers?

A. Value Based Marketing Era

B. Market Oriented Era

C. Sales Oriented Era

D. Production Oriented Era

4.) Which of the following is NOT a way that businesses build relationships with customers?

A. Relational Orientation

B. Customer Relationship Management

C. Employment Marketing

D. Transactional Orientation

5.) Firms become value driven by focusing on which of the following activities?

a. Wanting to please the consumer, no matter the cost

b. Sharing information with competitors, balance customers benefits, building relationships with customers

c. Striving to be the best firm with the highest level of value for all customers

d. Providing the lowest prices for their products

6.) Which venture(s) is an example of a successful venture that understood their customers and added value?

A. Ben & Jerry's

B. Apple Inc. and Pixar Studios

C. The Oprah Winfrey Show

D. All of the above

7.) Marketing can be performed by

a. Individuals

b. Organizations

c. a and b

d. None of the above

8.) Marketing can be used promote ______.

a. Neither tangible or Intangible objects

b. Only Tangible objects

c. Only Intangible objects

d. Both Tangible and Intangible objects as well as ideas

9.) Relational Orientation is the philosophy that

a. Executives should have strong relationship oriented philosophies toward the employees below them in the corporate chain of command

b. Every employee should know there responsibilities and orient themselves in relation to them

c. Buyers and sellers should develop a long-term relationship with one another

d. all of the above are true

10.) Services are

a. tangible assets that can be touched

b. intangible customer benefits that are produced by people or machines and cannot be separated from the producers

c. thoughts, opinions, philosophies, and intellectual concepts

d. all of the above

Answers:

1. D
2. D
3. B
4. C
5. B
6. D
7. C
8. D
9. C
10. B

1. What is NOT a core aspect of marketing?

A. Marketing entails an exchange

B. Marketing requires product, place, and promotion decisions

C. Marketing is about satisfying sellers’ needs and wants

D. Marketing occurs in many settings

2. What is the primary interest of marketers?

A. Getting the most out of advertising at a low cost to the company

B. Finding targeted potential buyers

C. Making an efficient marketing plan

D. Satisfying the customer

3. When you order a book from Barns&Nobel.com, what process does the company use to ensure that you receive your book?

A. Delivering the Value Proposition

B. Communicating the Value Proposition

C. Supply Chain Management

D. Capturing Value

4. Michael Jordan and Cuba Gooding Jr. are both enlisted celebrities for Hanes products. What do their names do for the company?

A. Increases value

B. Increases price

C. Increases promotion

D. All the above

5. Many firms develop these programs to attract the “best and brightest” employees.

A. Employment Examination

B. HR (Human Resource) Marketing

C. Employment Marketing

D. All of the Above

6. What marketing campaign slogan has used celebrities such as Alex Rodriguez and David Beckham to benefit an entire industry and the society at large?

A. Got Milk? (Milk)

B. Just do it (Nike)

C. Is it in you? (Gatorade)

D. Do more (American Express)

7. What market era produced improvements to production and distribution techniques?

A. Sales-Oriented

B. Market-Oriented

C. Production-Oriented

D. Value-Based Marketing

8. What is a good example of value co creation?

A. Adjusting sales to increase value

B. Improving existing products to increase value

C. Allowing customers tocollaborate in the creation of a product.

D. Keeping production costs down.

9. Customers naturally seek options that provide the greatest ______at the lowest _____.
A. Benefits, costs
B. Margin, costs
C. Benefits, quality
D. Costs, benefits

10. In order to keep up withcompetitors, companies must constantly adjust what?
A. Quality
B. Supply
C. Offerings
D. Customer service

11. Which company highlighted in the book represents a relational orientation?
A. Williams-sonoma
B. Target
C. UPS
D. Wal-mart
12. What activity/activities do value driven firms focus on?
A. Sharing information
B. Balancing benefits with costs
C. Building relationships with customers
D. All of the above

13. The Dutch grocery store Ahold operates under names such as ______in the U.S.

A. Ralph’s, Stop & Shop, and Peapod

B. GIANT, Ralph’s, and Stop & Shop

C. Peapod, Kroger, GIANT

D. Stop & Shop, GIANT, and Peapod

14. The key to any successful makeover or strategy change is:

A. To make sure the change upgrade doesn’t go so far that the firm loses its identity.

B. To make sure that the makeover appeals to the consumers.

C. To make sure that the makeover or upgrade still fits with the company’s image

D. All of the above

15. The marketing department of a value-based firm works together with other areas of the company to do which ofthe following?

A. Design & promote

B. Price & distribute

C. Replicate & distribute

D. Both a & b

16. A group of firms that make and deliver a given set of goods and service is know as?

A. Retailer

B. Supply chain

C. B2C (business-to-consumer) marketing

D. Manufacturer

17. Which of these benefits do marketers NOT provide to its customers?
A. Product and service choices
B. Information about choices
C. Instant Rebates

D. Reasonable guarantees and return policies

18. Which of the following is an example of marketing as enriching society?

A. Contract

B. Mission Statement

C. Rebate

D. None of the above

19. Key to the success of many such entrepreneurs is that they launch ventures that aim to satisfy ______.
A.Unfilled wants
B.Filled wants
C. Unfilled needs
D. Filled needs

20. Entrepreneurs…
A.Understand the marketing opportunity
B. Have conducted a thorough examination of the marketplace
C. Developed and communicated the value of their product or services to potential consumers
D.All of the above