MAR3023 EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS GRADED A++ LATEST UPDATE
Chapter 1 - Which of the following is one of the core practices among value-
oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
Chapter 1 - Understanding consumers' ________ is fundamental to marketing
success.
needs and wants
Chapter 1 - During what era did firms discover marketing?
market-oriented era
Chapter 1 - A firm that creates value by developing a variety of offerings including
goods, services, and ideas is doing so through which element of the four Ps?
product
Chapter 1 - The ________ consists of the product, price, place, and promotion of
an offering.
marketing mix
Chapter 1 - A firm relies on a wide variety of vendors to make and distribute its
products. Manufacturers buy raw materials from suppliers, use shipping
companies to transport finished goods to multiple locations, and establish
relationships with the retailers who sell them to consumers. Put all these
businesses together and you have a
,supply chain.
Chapter 1 - Which of the marketing mix elements corresponds to what the buyer
gives up in the marketing exchange?
Price
Chapter 1 - During what marketing era were manufacturers concerned with
product innovation and not with satisfying the needs of individual consumers?
production-oriented era
Chapter 1 - Apple's iPad is an example of which of the following types of
marketing offerings?
goods
Chapter 1 - During the last couple of decades, it has become important for value-
oriented marketers to ________ with customers.
move toward a relational perspective from a transactional orientation
Chapter 1 - The goal of a marketing exchange is that the parties to the transaction
be
satisfied.
Chapter 1 - The ________ addresses how a product will be designed, how much it
should cost, how it will be promoted, and how it will get to consumers.
marketing plan
Chapter 1 - A service is different from a good in that the benefit is
intangible.
Chapter 1 - When marketers communicate the value proposition, it involves the
________ element of the marketing mix.
, promotion
Chapter 1 - Which of the following marketing mix variables is involved in the
capture of value in the marketing exchange?
price
Chapter 1 - Redbox uses the ________ element of the marketing mix to make
movie rentals available for customers when and where they need them.
place
Chapter 1 - When an optical center provides eye exams and new contact lenses
as its offering, it is an example of which the following combinations?
goods and services
Chapter 1 - A business philosophy and set of strategies, programs, and systems
that focus on identifying and building loyalty among the firm's most valued
customers is known as
customer relationship management.
Chapter 1 - Kroger collects massive amounts of data about how, when, why,
where, and what people buy, and then analyzes those data to better serve its
customers. This activity refers to
marketing analytics.
Chapter 1 - Which of the following illustrates how marketing has a direct impact
on consumers?
Marketing helps consumers learn about new products and services.
Chapter 2 - When marketers strive to get their customers the merchandise they
want, when they want it, in the required quantities, and at a lower delivered cost
SOLUTIONS GRADED A++ LATEST UPDATE
Chapter 1 - Which of the following is one of the core practices among value-
oriented marketers?
constantly measuring the benefits that customers receive against the costs of offerings
Chapter 1 - Understanding consumers' ________ is fundamental to marketing
success.
needs and wants
Chapter 1 - During what era did firms discover marketing?
market-oriented era
Chapter 1 - A firm that creates value by developing a variety of offerings including
goods, services, and ideas is doing so through which element of the four Ps?
product
Chapter 1 - The ________ consists of the product, price, place, and promotion of
an offering.
marketing mix
Chapter 1 - A firm relies on a wide variety of vendors to make and distribute its
products. Manufacturers buy raw materials from suppliers, use shipping
companies to transport finished goods to multiple locations, and establish
relationships with the retailers who sell them to consumers. Put all these
businesses together and you have a
,supply chain.
Chapter 1 - Which of the marketing mix elements corresponds to what the buyer
gives up in the marketing exchange?
Price
Chapter 1 - During what marketing era were manufacturers concerned with
product innovation and not with satisfying the needs of individual consumers?
production-oriented era
Chapter 1 - Apple's iPad is an example of which of the following types of
marketing offerings?
goods
Chapter 1 - During the last couple of decades, it has become important for value-
oriented marketers to ________ with customers.
move toward a relational perspective from a transactional orientation
Chapter 1 - The goal of a marketing exchange is that the parties to the transaction
be
satisfied.
Chapter 1 - The ________ addresses how a product will be designed, how much it
should cost, how it will be promoted, and how it will get to consumers.
marketing plan
Chapter 1 - A service is different from a good in that the benefit is
intangible.
Chapter 1 - When marketers communicate the value proposition, it involves the
________ element of the marketing mix.
, promotion
Chapter 1 - Which of the following marketing mix variables is involved in the
capture of value in the marketing exchange?
price
Chapter 1 - Redbox uses the ________ element of the marketing mix to make
movie rentals available for customers when and where they need them.
place
Chapter 1 - When an optical center provides eye exams and new contact lenses
as its offering, it is an example of which the following combinations?
goods and services
Chapter 1 - A business philosophy and set of strategies, programs, and systems
that focus on identifying and building loyalty among the firm's most valued
customers is known as
customer relationship management.
Chapter 1 - Kroger collects massive amounts of data about how, when, why,
where, and what people buy, and then analyzes those data to better serve its
customers. This activity refers to
marketing analytics.
Chapter 1 - Which of the following illustrates how marketing has a direct impact
on consumers?
Marketing helps consumers learn about new products and services.
Chapter 2 - When marketers strive to get their customers the merchandise they
want, when they want it, in the required quantities, and at a lower delivered cost
