MKTG 3701 Final Exam 2025 With
100% Correct Answers
According to your text, what is the most basic concept in marketing? - CORRECT
ANSWER✔✔determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - CORRECT
ANSWER✔✔profit.
Daphne used to work in the city where she would take public transportation to work. However,
she just took a new job in the suburbs and now not only has to find a place to live, but also has
to buy a car to get to and from her job. For Daphne, these things represent? - CORRECT
ANSWER✔✔a need.
In marketing, an exchange refers to? - CORRECT ANSWER✔✔buyers and sellers trading things of
value so that each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor
activities. In an effort to stave off competition, the company has begun keeping a log of
customer interests and hobbies so it can alert them to local events of relevance to them as well
as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures
has added a section to their website where customers can post pictures of themselves using the
stores gear. These efforts illustrate how the firm is engaged in? - CORRECT
ANSWER✔✔relationship marketing.
What is the premise behind the marketing concept? - CORRECT ANSWER✔✔a focus on
satisfying the needs of the customer
,A company that has a market orientation and adheres to the marketing concept does NOT? -
CORRECT ANSWER✔✔fuel sales growth through the application of aggressive sales techniques
A problem facing the timber industry is the absence of any effective way to prove that rain
forest timber has been legally harvested. In places like Indonesia, as much as 80 percent of
timber available for sale is illegally cut. Companies like The Home Depot do not want to sell
timber from illegally logged forests even though the demand is great for timber from rain
forests. Which of the following conditions required for an exchange to occur is missing when a
company tries to sell illegally acquired logs to The Home Depot? - CORRECT ANSWER✔✔Each
party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to retailers
in the western United States. Management believes its retail customers will stock more jewelry
if its salespeople use aggressive marketing techniques, so the company provides strong
incentives for salespeople and promotional allowances to resellers to get distribution for its
jewelry. In other words, the company has a _____________ orientation? - CORRECT
ANSWER✔✔sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates from
the back panels of specially marked packages of Kelloggs cereals and then mail them with the
official order form. Within 90 days, these consumers will receive the movie of their choice.
_____________ will occur when a movie fan mails in his or her certificates for a movie? -
CORRECT ANSWER✔✔exchange
Mimi Couturier is a design company that specializes in formalwear for women. The company is
known for challenging fashion mores. The fashion designers use computer assisted design
software to create what it thinks women should wear. The company regularly hires industry
experts to examine its factories to find waste and inefficiencies that can be eliminated. The
company has expanded the number of products it offers for sale many times. However, for the
last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To
avoid this occurrence in the future, Mimi Couturier should? - CORRECT ANSWER✔✔have
someone study its target market to see what needs and wants should be met by Mimi Couturier
, One facet of marketing is that it is? - CORRECT ANSWER✔✔a philosophy that stresses customer
satisfaction
Researchers at PPG Industries spent considerable time, effort, and money developing a bluish
windshield that would let in filtered sunlight but block out the heat. Little market research was
done, but the scientists were convinced this new product would be significantly better than
existing windshields even though it was more expensive and of a different color than the
current models on the market. This scenario suggests PPG most likely has ________________
orientation? - CORRECT ANSWER✔✔production
Toyota found that consumers wanted cars to last longer and be more environmentally friendly.
GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and
trucks it could manufacture, not on what customers wanted from a vehicle. GM had more of a
____________ orientation? - CORRECT ANSWER✔✔production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking
toilet, he gathered up materials totaling almost $70. One his way to check out, an employee
asked him what was he trying to fix. After some discussion, the employee convinced the
homeowner that a $5.99 replacement part would fix the problem better than the materials he
thought he needed and with less trouble. This sort of discussion between employees and
customers is commonplace at The Home Depot and indicates the retail store has
______________ orientation? - CORRECT ANSWER✔✔market
A good mission statement should? - CORRECT ANSWER✔✔provide motivation for the
employees of the firm.
How do companies go about strategic marketing planning? - CORRECT ANSWER✔✔marketing
plan
All of the following are characteristics of a good objective EXCEPT? - CORRECT
ANSWER✔✔profitable
100% Correct Answers
According to your text, what is the most basic concept in marketing? - CORRECT
ANSWER✔✔determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - CORRECT
ANSWER✔✔profit.
Daphne used to work in the city where she would take public transportation to work. However,
she just took a new job in the suburbs and now not only has to find a place to live, but also has
to buy a car to get to and from her job. For Daphne, these things represent? - CORRECT
ANSWER✔✔a need.
In marketing, an exchange refers to? - CORRECT ANSWER✔✔buyers and sellers trading things of
value so that each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor
activities. In an effort to stave off competition, the company has begun keeping a log of
customer interests and hobbies so it can alert them to local events of relevance to them as well
as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures
has added a section to their website where customers can post pictures of themselves using the
stores gear. These efforts illustrate how the firm is engaged in? - CORRECT
ANSWER✔✔relationship marketing.
What is the premise behind the marketing concept? - CORRECT ANSWER✔✔a focus on
satisfying the needs of the customer
,A company that has a market orientation and adheres to the marketing concept does NOT? -
CORRECT ANSWER✔✔fuel sales growth through the application of aggressive sales techniques
A problem facing the timber industry is the absence of any effective way to prove that rain
forest timber has been legally harvested. In places like Indonesia, as much as 80 percent of
timber available for sale is illegally cut. Companies like The Home Depot do not want to sell
timber from illegally logged forests even though the demand is great for timber from rain
forests. Which of the following conditions required for an exchange to occur is missing when a
company tries to sell illegally acquired logs to The Home Depot? - CORRECT ANSWER✔✔Each
party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to retailers
in the western United States. Management believes its retail customers will stock more jewelry
if its salespeople use aggressive marketing techniques, so the company provides strong
incentives for salespeople and promotional allowances to resellers to get distribution for its
jewelry. In other words, the company has a _____________ orientation? - CORRECT
ANSWER✔✔sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates from
the back panels of specially marked packages of Kelloggs cereals and then mail them with the
official order form. Within 90 days, these consumers will receive the movie of their choice.
_____________ will occur when a movie fan mails in his or her certificates for a movie? -
CORRECT ANSWER✔✔exchange
Mimi Couturier is a design company that specializes in formalwear for women. The company is
known for challenging fashion mores. The fashion designers use computer assisted design
software to create what it thinks women should wear. The company regularly hires industry
experts to examine its factories to find waste and inefficiencies that can be eliminated. The
company has expanded the number of products it offers for sale many times. However, for the
last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To
avoid this occurrence in the future, Mimi Couturier should? - CORRECT ANSWER✔✔have
someone study its target market to see what needs and wants should be met by Mimi Couturier
, One facet of marketing is that it is? - CORRECT ANSWER✔✔a philosophy that stresses customer
satisfaction
Researchers at PPG Industries spent considerable time, effort, and money developing a bluish
windshield that would let in filtered sunlight but block out the heat. Little market research was
done, but the scientists were convinced this new product would be significantly better than
existing windshields even though it was more expensive and of a different color than the
current models on the market. This scenario suggests PPG most likely has ________________
orientation? - CORRECT ANSWER✔✔production
Toyota found that consumers wanted cars to last longer and be more environmentally friendly.
GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and
trucks it could manufacture, not on what customers wanted from a vehicle. GM had more of a
____________ orientation? - CORRECT ANSWER✔✔production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking
toilet, he gathered up materials totaling almost $70. One his way to check out, an employee
asked him what was he trying to fix. After some discussion, the employee convinced the
homeowner that a $5.99 replacement part would fix the problem better than the materials he
thought he needed and with less trouble. This sort of discussion between employees and
customers is commonplace at The Home Depot and indicates the retail store has
______________ orientation? - CORRECT ANSWER✔✔market
A good mission statement should? - CORRECT ANSWER✔✔provide motivation for the
employees of the firm.
How do companies go about strategic marketing planning? - CORRECT ANSWER✔✔marketing
plan
All of the following are characteristics of a good objective EXCEPT? - CORRECT
ANSWER✔✔profitable
