MKTG 409 - EXAM 1 QUESTIONS AND ANSWERS
Which stakeholders are the focal point of all marketing activities?
a. Customers
b. Communities
c. Regulators
d. Employees
e. Suppliers - Answers - Customers
Kroger decided to introduce a new product that appeals to Hispanic consumers. While
the product is highly successful among Hispanic consumers, other ethnic groups seem
to like the product as well. For this product, Hispanic consumers comprise Kroger's
_______.
a. exchange
b. marketing mix
c. community
d. marketing environment
e. target market - Answers - Target Market
The essence of marketing is to develop satisfying _______ from which both customers
and marketers benefit.
a. environmental factors
b. marketing mixes
c. exchanges
d. target markets
e. values - Answers - Exchanges
During the holiday season, a Bluetooth speaker was in such high demand that it sold
out quickly at a local Walmart. When Walmart tried to order more, it learned that the
suppliers had so many orders to fill that it would not be able to fill Walmart's order for
two weeks. What type of marketing mix variable does this problem involve?
a. Pricing
b. Product
c. Distribution
d. Exchange
e. Promotion - Answers - Distribution
Lumos Labs, the maker of brain-training app Lumosity, released advertisements that
claimed its app was able to prevent Alzheimer's. The Federal Trade Commission fined
Lumos Labs $2 million, saying that the company did not have the science to back up its
ads. What type of marketing mix variable is involved in this situation?
a. Pricing
b. Product
c. Distribution
,d. Promotion
e. Exchange - Answers - Promotion
Lime is using social media to ask consumers about the qualities they desire in an
electric scooter. The firm hopes to develop a new type of electric scooter based on the
feedback it receives. Which marketing mix variable is Lime addressing?
a. Pricing
b. Product
c. Distribution
d. Promotion
e. Exchange - Answers - Product
Which of the following equations describes customer value?
a. Customer value= customer benefits - opportunity costs
b. Customer value= income - price
c. Customer value= customer costs - customer benefits
d. Customer value= customer benefits - customer costs
e. Customer value= customer benefits - price - Answers - Customer value= customer
benefits - customer costs
Customers choose to go to Buffalo Wild Wings based upon the value they place on the
total product—including the food, service, atmosphere of the restaurant, and more. The
process consumers use to determine value is highly _______.
a. subjective
b. scientific
c. detailed
d. objective
e. narrow - Answers - Subjective
Which of the following sentences is true about a marketing exchange?
a. An exchange will always take place if four conditions are met.
b. Seeing an advertisement is an example of an exchange.
c. Products in an exchange must be traded for money.
d. An exchange only needs to provide a benefit to one party.
e. It requires four conditions to take place. - Answers - It requires four conditions to take
place.
Marketing environmental forces are often _______.
a. interdependent
b. easy to predict
c. controllable
d. stable
e. non-influential - Answers - interdependent
Subaru developed a new luxury car model, but, after performing some market tests, it
realized that it was pricing its vehicles too high, even for the luxury market. Subaru had
, to make some changes in its marketing mix. Unfortunately, it made the mistake of
launching its product right when a recession hit. As unemployment rose, sales of luxury
products such as Subaru's new luxury vehicle tend to decrease. In this case, the pricing
of its vehicle is a(n) _______ force for Subaru, while the economic downturn is a(n)
_______ factor.
a. stable; unstable
b. controllable; uncontrollable
c. predictable; unpredictable
d. uncontrollable; controllable
e. unpredictable; predictable - Answers - controllable; uncontrollable
The marketing concept is based upon the idea that an organization should try to provide
products that satisfy customers' needs through a coordinated set of activities that also
allows the organization to achieve its goals. During which orientation (time period) are
marketers most likely to adopt the marketing concept?
a. Exchange orientation
b. Production orientation
c. Sales orientation
d. Market orientation
e. Promotion orientation - Answers - Market Orientation
Charlotte loves her mom's edible cookie dough recipe, and she assumes everyone else
will too. She starts a cookie dough business. Charlotte views promotion, such as
advertising and personal selling, as the most important activities needed to sell her
product. She figures that consumers only have to learn about her product before
becoming loyal and steadfast customers. What type of orientation does Charlotte seem
to embrace?
a. Sales orientation
b. Promotion orientation
c. Market orientation
d. Exchange orientation
e. Production orientation - Answers - Sales orientation
What is the first step for marketers in implementing the marketing concept?
a. Modify existing products to meet customer needs more effectively
b. Modify a communication system that allows information to be disseminated
throughout the organization
c. Engage in personal selling or advertising to promote products that customers desire
d. Develop a feedback system so customers can describe their thoughts about a
product
e. Establish an information system to discover customers' real needs - Answers -
Establish an information system to discover customer's real needs.
Anthony works at a local electronics retailer. He has two customers in particular that he
sees regularly. One customer, Mr. Johnson, comes in frequently asking about new
deals. However, he rarely buys anything, and when he does buy something it is usually
Which stakeholders are the focal point of all marketing activities?
a. Customers
b. Communities
c. Regulators
d. Employees
e. Suppliers - Answers - Customers
Kroger decided to introduce a new product that appeals to Hispanic consumers. While
the product is highly successful among Hispanic consumers, other ethnic groups seem
to like the product as well. For this product, Hispanic consumers comprise Kroger's
_______.
a. exchange
b. marketing mix
c. community
d. marketing environment
e. target market - Answers - Target Market
The essence of marketing is to develop satisfying _______ from which both customers
and marketers benefit.
a. environmental factors
b. marketing mixes
c. exchanges
d. target markets
e. values - Answers - Exchanges
During the holiday season, a Bluetooth speaker was in such high demand that it sold
out quickly at a local Walmart. When Walmart tried to order more, it learned that the
suppliers had so many orders to fill that it would not be able to fill Walmart's order for
two weeks. What type of marketing mix variable does this problem involve?
a. Pricing
b. Product
c. Distribution
d. Exchange
e. Promotion - Answers - Distribution
Lumos Labs, the maker of brain-training app Lumosity, released advertisements that
claimed its app was able to prevent Alzheimer's. The Federal Trade Commission fined
Lumos Labs $2 million, saying that the company did not have the science to back up its
ads. What type of marketing mix variable is involved in this situation?
a. Pricing
b. Product
c. Distribution
,d. Promotion
e. Exchange - Answers - Promotion
Lime is using social media to ask consumers about the qualities they desire in an
electric scooter. The firm hopes to develop a new type of electric scooter based on the
feedback it receives. Which marketing mix variable is Lime addressing?
a. Pricing
b. Product
c. Distribution
d. Promotion
e. Exchange - Answers - Product
Which of the following equations describes customer value?
a. Customer value= customer benefits - opportunity costs
b. Customer value= income - price
c. Customer value= customer costs - customer benefits
d. Customer value= customer benefits - customer costs
e. Customer value= customer benefits - price - Answers - Customer value= customer
benefits - customer costs
Customers choose to go to Buffalo Wild Wings based upon the value they place on the
total product—including the food, service, atmosphere of the restaurant, and more. The
process consumers use to determine value is highly _______.
a. subjective
b. scientific
c. detailed
d. objective
e. narrow - Answers - Subjective
Which of the following sentences is true about a marketing exchange?
a. An exchange will always take place if four conditions are met.
b. Seeing an advertisement is an example of an exchange.
c. Products in an exchange must be traded for money.
d. An exchange only needs to provide a benefit to one party.
e. It requires four conditions to take place. - Answers - It requires four conditions to take
place.
Marketing environmental forces are often _______.
a. interdependent
b. easy to predict
c. controllable
d. stable
e. non-influential - Answers - interdependent
Subaru developed a new luxury car model, but, after performing some market tests, it
realized that it was pricing its vehicles too high, even for the luxury market. Subaru had
, to make some changes in its marketing mix. Unfortunately, it made the mistake of
launching its product right when a recession hit. As unemployment rose, sales of luxury
products such as Subaru's new luxury vehicle tend to decrease. In this case, the pricing
of its vehicle is a(n) _______ force for Subaru, while the economic downturn is a(n)
_______ factor.
a. stable; unstable
b. controllable; uncontrollable
c. predictable; unpredictable
d. uncontrollable; controllable
e. unpredictable; predictable - Answers - controllable; uncontrollable
The marketing concept is based upon the idea that an organization should try to provide
products that satisfy customers' needs through a coordinated set of activities that also
allows the organization to achieve its goals. During which orientation (time period) are
marketers most likely to adopt the marketing concept?
a. Exchange orientation
b. Production orientation
c. Sales orientation
d. Market orientation
e. Promotion orientation - Answers - Market Orientation
Charlotte loves her mom's edible cookie dough recipe, and she assumes everyone else
will too. She starts a cookie dough business. Charlotte views promotion, such as
advertising and personal selling, as the most important activities needed to sell her
product. She figures that consumers only have to learn about her product before
becoming loyal and steadfast customers. What type of orientation does Charlotte seem
to embrace?
a. Sales orientation
b. Promotion orientation
c. Market orientation
d. Exchange orientation
e. Production orientation - Answers - Sales orientation
What is the first step for marketers in implementing the marketing concept?
a. Modify existing products to meet customer needs more effectively
b. Modify a communication system that allows information to be disseminated
throughout the organization
c. Engage in personal selling or advertising to promote products that customers desire
d. Develop a feedback system so customers can describe their thoughts about a
product
e. Establish an information system to discover customers' real needs - Answers -
Establish an information system to discover customer's real needs.
Anthony works at a local electronics retailer. He has two customers in particular that he
sees regularly. One customer, Mr. Johnson, comes in frequently asking about new
deals. However, he rarely buys anything, and when he does buy something it is usually
