Deck 1: Creating Customer Relationships and Value Through Marketing

Question 1

serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

A) change
B) create
C) manipulate
D) discover
E) weigh

Answer 1

D

Question 2

much time does 3M allow their inventors for the purpose of doing initially unfunded research?

A) 5%
B) 10%
C) 15%
D) 25%
E) 35%

Answer 2

C

Question 3

than half of all new businesses fail within __________ years of their launch.

A) two
B) three
C) four
D) five
E) ten

Answer 3

D

Question 4

activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large is referred to as __________.

A) manufacturing
B) advertising
C) marketing
D) selling
E) promotion

Question 5

Mizuno designs and sells high quality baseball gloves.Who benefits the LEAST from the firm's marketing activities for its gloves?

A) a baseball or softball player who purchases a new Mizuno glove
B) the Sports Authority salesperson who sells a player a Mizuno glove
C) the supplier who provided the leather to Mizuno
D) the shareholder of Mizuno that designs and manufactures the gloves
E) No one should benefit the "least." All should be benefit from Mizuno's marketing efforts, even society at large.

Question 6

__________ of all new businesses fail within five years of their launch.

A) Only 5 percent
B) Only 10 percent
C) Only 25 percent
D) About 40 percent
E) Over 50 percent

Question 7

Which of the following statements about stakeholders is most accurate?

A) Ultimately, the only relevant stakeholder is the ultimate consumer.
B) The organization, suppliers, shareholders, employees, and consumers are all stakeholders of an organization and all should benefit from the organization's marketing activities.
C) Employees can be stakeholders only if they own shares in their company.
D) Suppliers are the most important stakeholders because without them, products could never be produced.
E) The only way to be a stakeholder is to have a financial investment in an organization's product, service, or idea.

Question 8

Marketing refers to

A) the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its shareholders, and employees.
B) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.
C) the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its shareholders, and customers.
D) the activity for creating, communicating, delivering a product or service to a specific segment of the market, and providing the greatest customer value at the highest possible price.
E) the activities of advertising, promoting, and selling products to the greatest number of potential customers while simultaneously meeting the needs of the customer and organization.

Question 9

Zuckerberg is a co-founder of the social networking website called __________.

A) MySpace
B) Groupon
C) LinkedIn
D) Facebook
E) Twitter

Question 10

While working at 3M,Windorski and his team observed and questioned students about how they read textbooks,took notes,and prepare for exams to

A) discover a potentially new way to satisfy student needs by creating a new product.
B) convince them of 3M's superiority over other competitors.
C) determine how much the average college student traditionally spends on office supplies.
D) find possible correlations between students' study styles and their final grades.
E) develop advertising that relates more effectively with a younger student population.

Question 11

Which of the following statements about marketing is most accurate?

A) Unless you take a marketing class, you will never truly know anything about marketing.
B) Marketing is nothing more than common sense.
C) Marketing requires an innate sense of creativity; you either have it or you don't.
D) You can call yourself a marketing expert only if you have sold something.
E) You are already a marketing expert because as a consumer, you have already been involved in marketing decisions.

Question 12

of the following are true about marketing EXCEPT:

A) Marketing is a broader activity than advertising.
B) Marketing stresses the importance of delivering genuine benefits in the offerings of products, services, and ideas.
C) Marketing persuades people to buy the "wrong" things.
D) When an organization engages in marketing, all stakeholders should benefit.
E) Marketing is a broader activity than personal selling.

Question 13

serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

A) change
B) satisfy
C) create
D) manipulate
E) weigh

Question 14

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

A) a prospective customer.
B) the primary marketing decision maker.
C) a potential distributor.
D) an informed buyer.
E) an unqualified prospect.

Question 15

combined American Marketing Association's 2004/2007 definitions of marketing used in the textbook defines marketing as

A) the activity for creating, communicating, delivering, and exchanging offerings solely for the benefit of the organization's stockholders.
B) the activity for creating, communicating, delivering, and exchanging solely for the benefit of the organization's customers.
C) the activity for creating, communicating, and delivering a product or service at the highest possible price.
D) the activities of advertising, promoting, and selling products to the greatest number of profitable customers.
E) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

Question 16

Marketing refers to

A) the production of products or services that will generate the highest return on investment.
B) the strategies used in the advertising and promotion of products and services.
C) the process of identifying target market segments for a product or service.
D) the activity involved in actually getting a product or service to ultimate consumers and organizational buyers.
E) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

Question 17

other companies applied the same strategy David Windorski used at 3M,they would most likely

A) avoid the use of mock-ups and working models to speed up the new-product development process and get the product out to the market faster.
B) search continuously to discover customers' needs.
C) copy 3M's "5% Rule" to do unfunded research.
D) avoid excessive attention to customers' demands because they cannot always differentiate between their needs and their wants.
E) focus on the shareholders of the company and know the strategy will follow.

Question 18

common factor among an organization's chairman of the board,stockholders,suppliers,laborers,customers,and society at large is that

A) all are stakeholders and should benefit from the marketing of a product.
B) everyone has a say in the ultimate design of a product.
C) everyone is legally culpable if something goes wrong with a product.
D) all have to make some type of direct financial investment in the organization.
E) all use the product or service marketed by the organization.

Question 19

Initially,Facebook targeted which market segment of consumers?

A) grade school children ages 6 to 12 years old
B) high school students
C) college students
D) adults with professional occupations
E) senior adults 55 years and older

Question 20

inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

A) to make new products that have higher quality.
B) that the average backpack was already too heavy.
C) that it would be reasonable to put Post-it^® Flags together with a highlighter.
D) to determine the ratio of 3M products to study aid products of other competitors.
E) that highlighters and Post-it^® Notes should not be combined.

Question 21

Figure 1-2
Figure 1-2 above,"A" represents a firm's relationships with

A) suppliers.
B) customers.
C) shareholders.
D) other departments.
E) other organizations.

Question 22

factors are required for marketing to occur: (1)__________; (2)a desire and ability on their part to be satisfied; (3)a way for the parties to communicate; and (4)something to exchange.

A) a healthy competitive environment
B) government approval
C) a sense of social responsibility
D) an ability to see hidden potential within an environmental force
E) two or more parties (individuals or organizations) with unsatisfied needs

Question 23

student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.).If they both purchase the same model smartphone,such as an iPhone 4S,which statement is most accurate?

A) The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment.
B) Both the adjuster and the student are potential customers because in their own way, they both benefit from the product.
C) Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers.
D) The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use.
E) Every person who uses a smartphone is prospective customer; they benefit whether they purchase the smartphone or not.

Question 24

Figure 1-2
Figure 1-2 above,"C" represents a firm's ownership with

A) other organizations.
B) suppliers.
C) shareholders.
D) customers.
E) other departments.

Question 25

American Red Cross created a series of advertisements to encourage people to donate blood.After viewing an ad,Amanda went to the local Red Cross office and donated a pint of her blood.Amanda returned home feeling happy that she had performed a good deed.Was this an exchange in a marketing sense?

A) Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity.
B) Yes, because the donated blood was exchanged for a feeling of satisfaction.
C) No, because the Red Cross is nonprofit organization.
D) No, because no money changed hands.
E) No, because the Red Cross, a service organization, did not provide Amanda with a product.

Question 26

Terrafugia Transition is a 19-foot,two-seater road-drivable,light-sport aircraft with an anticipated price of $250,000.The most likely prospective customers for this flying car would include

A) students interested in science fiction.
B) retired seniors receiving social security.
C) executives for whom time is extremely important.
D) teens who like to try new things.
E) All of the people above are likely prospective customers of the Transition.

Question 27

of the following are departments in a typical organization EXCEPT:

A) finance.
B) manufacturing.
C) information systems.
D) human resources.
E) suppliers.

Question 28

marketing department of an organization is responsible for facilitating __________.

A) relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations
B) healthy competition with other product manufacturers
C) financial contracts with banks and other lending institutions
D) alliances with firms with non-competitive products that target similar markets
E) relationships with governmental regulatory agencies

Question 29

Figure 1-2
Figure 1-2 above,"D" represents a firm's relationship with

A) other organizations.
B) suppliers.
C) shareholders.
D) customers.
E) other departments.

Question 30

trade of things of value between buyer and seller so that each is better off after the trade is referred to as __________.

A) financial remuneration
B) exchange
C) countertrade
D) barter
E) marketing

Question 31

Which of the following statements about marketing activities is most accurate?

A) Marketing is affected by society but rarely, if ever, affects society as a whole.
B) The marketing department works closely with other departments and employees to implement marketing activities.
C) Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall).
D) Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research.
E) Marketing, after all is said and done, is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.

Question 32

marketing,the idea of exchange refers to

A) the negotiation phase between the manufacturer and the seller.
B) the financial remuneration (monetary payment) for a product or service.
C) the trade of things of value between buyer and seller so that each is better off after the trade.
D) the bartering of products and services for other products and services.
E) the practice of swapping products and services for other products and services rather than for money.

Question 33

local college of business offers an outstanding graduate business school education program.Cali pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high paying,fulfilling position.Was this a marketing exchange?

A) No, because the university earned a profit from Cali's tuition.
B) No, because money was exchanged in the form of tuition and Cali's income will come from her employer, not the graduate school.
C) No, because the school did not provide Cali with a tangible product, only the potential of an education.
D) Yes, because the university promised Cali she would graduate on time, and she did.
E) Yes, because paying tuition was exchanged for knowledge that directly led to Cali's high paying, fulfilling new job.

Question 34

Figure 1-2
Figure 1-2 above,"B" represents a firm's partnerships with

A) other organizations.
B) suppliers.
C) shareholders.
D) customers.
E) other departments.

Question 35

Marketing seeks to discover the needs and wants of prospective customers and satisfy them.Essential to this process is the idea of exchange,which refers to

A) the trade of things of value between buyer and seller so that each is better off after the trade.
B) the negotiation phase between the manufacturer and the seller.
C) the financial remuneration (monetary payment) for a product or service.
D) the bartering of products and services for other products and services.
E) the practice of swapping products and services for other products and services rather than for money.

Question 36

church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief,positive story about how fellow members have helped them during times of need.Jack volunteered and shared his story during a service.Afterwards,he felt joyous.Was this an exchange in a marketing sense?

A) Yes, because the church ran an advertisement, a marketing activity.
B) No, because the church is nonprofit organization and these actions are expected without any expectation of "exchange."
C) No, because no money was exchanged.
D) Yes, because sharing his story at a service was exchanged for a feeling of joy.
E) No, because the church did not provide Jack with a tangible product or service.

Question 37

factors are required for marketing to occur: (1)two or more parties (individuals or organizations)with unsatisfied needs; (2)__________; (3)a way for the parties to communicate; and (4)something to exchange.

A) a healthy competitive environment
B) government approval
C) a sense of social responsibility
D) a desire and ability on their part to be satisfied
E) an ability to see hidden potential within an environmental force

Question 38

Which of the following statements about marketing departments is most accurate?

A) The marketing department should work with people solely within its own department.
B) The marketing department should suggest where a firm should invest its money based on its knowledge of the market and environmental forces.
C) The marketing department is responsible for only the 4Ps.
D) The marketing department is responsible for market research, supervision of product development, and product promotion.
E) The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.

Question 39

__________ department of an organization is responsible for facilitating relationships,partnerships,and alliances with the organization's customers,shareholders,suppliers,and other organizations.

A) purchasing
B) marketing
C) human resources
D) accounting
E) information systems

Question 40

of the following are environmental forces EXCEPT:

A) economic.
B) customers.
C) social.
D) regulatory.
E) technological.

Question 41

Marketing discovers consumer needs by

A) implementing a marketing program.
B) conducting extensive marketing research.
C) balancing the marketing mix elements-the 4 Ps of the marketing program.
D) advertising to diverse groups of prospective buyers.
E) copying the products and services of its competitors.

Question 42

avoid new-product failure,new-product expert Robert M.McMath suggests

A) implementing a regional rather than a nationwide rollout of the product.
B) building a hierarchical organizational structure so that more people can spot product problems.
C) a focus on customer benefits and to learn from the past.
D) "doing what it takes" by spending as much as possible on new product marketing program development and execution because in the end, "success comes to those who can outspend its competition."
E) releasing several different prototypes at the same time to see which one is most successful.

Question 43

first objective in marketing is to discover consumer __________.

A) diversity of opinion to create advertising messages
B) income to determine the ability to pay
C) lifetime value
D) characteristics to segment markets
E) needs to identify reasons for buying

Question 44

Showstoppers refer to

A) creative or innovative members of a marketing team.
B) unexpected alternative uses for a product that result in a sudden increase in sales.
C) factors that might doom a product in the marketplace.
D) a sudden loss of financial backing even though the item is in production.
E) a situation when a competitor's product suddenly beats a firm's new product to the marketplace.

Question 45

two central concerns of marketing are __________.

A) increasing market share and making profits
B) holding down costs while increasing profits
C) developing products and finding suppliers
D) discovering and satisfying consumer needs
E) practicing ethics and sustainability

Question 46

college student is taking a full course load,working 20 hours per week,and still has to take out a student loan to cover tuition.One day,the student sees a classmate driving a Lexus sports coupe and feels he just has to have one of his own.What factor is MOST LIKELY to prevent a successful marketing exchange between the student and a Lexus dealer?

A) The local Lexus dealer does not have any sports coupes in stock.
B) The student does not have the resources to qualify for a $50,000 auto loan.
C) Although the Lexus is a great car, there may be other cars with better gas mileage and resale value.
D) He's afraid that if someone at school sees him with the car, he might lose his student loan.
E) His girlfriend wants him to drive a Kia Soul.

Question 47

Arizona Biltmore in Phoenix is next to the Biltmore Fashion Park,a large shopping mall located less than a mile away.The hotel wants to promote its proximity to the shopping center as well as its many other amenities to convention-goers from other states.Which of the following would MOST LIKELY help The Arizona Biltmore communicate with potential convention attendees?

A) Place an ad in the in-flight magazines of all the major airlines targeting business/first class flyers.
B) Send a mass mailing to all the local businesses.
C) Set up information kiosks at several locations within the Biltmore Fashion Park.
D) Offer free made-to-order breakfasts for guests staying at the hotel on business.
E) Offer special discount rates to guests coming from the East Coast.

Question 48

student would like to buy a sports car from the local dealer,but she cannot afford one.Marketing does not occur in this situation because

A) two or more parties have unsatisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) one of the involved parties does not have the ability to satisfy its needs.
D) there is no way for each party to communicate with one another.
E) there has been no assessment of consumer wants and needs.

Question 49

factors are required for marketing to occur: (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)__________.

A) a sense of social responsibility
B) something to exchange
C) a healthy competitive environment
D) government approval
E) an ability to see hidden potential within an environmental force

Question 50

factors are required for marketing to occur: (1)two or more parties (individuals or organizations)with unsatisfied needs; (2)a desire and ability on their part to be satisfied; (3)__________; and (4)something to exchange.

A) a way for the parties to communicate
B) a healthy competitive environment
C) government approval
D) a sense of social responsibility
E) an ability to see hidden potential within an environmental force

Question 51

business student is preparing for the Graduate Management Admission Test (GMAT)so he can get into a good graduate business school.He knows that any money he spends on a tutor will be well worth it if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.What is the next logical step in order for marketing to occur?

A) He should buy a GMAT study guide at the bookstore.
B) He should find out what the minimum score he needs to get into the school of his choice.
C) He should check for ads for tutors in the college and local papers, ask his friends, look for flyers by her on a bulletin board in the business college student lounge, etc.
D) He should consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission.
E) He should apply for delayed admission if he can't find this tutor.

Question 52

Terrafugia Transition is a flying car with an anticipated price of $250,000.The MOST LIKELY prospective customers for this aircraft/vehicle would be

A) college students who are interested in high technology products.
B) retired seniors who live off their Social Security checks.
C) corporate executives of Fortune 1000 companies whose time is valuable.
D) 16-year old teenagers who just got their drivers' licenses.
E) no one, since the Transition is too revolutionary and expensive for anyone to buy it.

Question 53

Which of the following conditions is necessary for marketing to occur?

A) two or more people, a method of assessing needs, a way to communicate, and an exchange
B) two or more people, a product, a reasonable price, and a place to make an exchange
C) a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product
D) two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange
E) an ability to see a hidden trend within an environmental force

Question 54

marketing to occur,there must be two or more parties with unsatisfied needs.Cadbury Beverages,Inc.has begun distributing Country Time lemonade through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be

A) people who are nostalgic about childhood summers.
B) people with a desire for a beverage other than soda or water.
C) product demonstrators who offer samples of Country Time lemonade to shoppers at local supermarkets.
D) a local distributor of alcoholic beverages.
E) a nutritionist promoting the benefits of fresh fruit in people's diets.

Question 55

you followed the suggestions of Robert M.McMath,which of the following provides the best advice for a marketer,such as Colgate,when launching a new consumer product,such as toothpaste?

A) Anticipate the future five years out in terms of product form, ingredients, and packaging-to invent the "toothpaste of tomorrow!"
B) Give the product a mysterious name that is unrelated the product's benefits but provokes consumer curiosity.
C) Initiate a Facebook campaign against beverages sweetened with high fructose corn syrup, which can contribute to tooth decay.
D) Create unusual packaging that has special shelving requirements.
E) Study past toothpaste product failures and learn from them.

Question 56

factor that might doom a product in the marketplace is referred to as a(n)__________.

A) albatross
B) land mine
C) pit fall
D) showstopper
E) wild card

Question 57

Which of the following products mentioned in Chapter 1 of the textbook failed in the marketplace?

A) Terrafugia Transition
B) Pepsi Max
C) Hot Pockets Snackers
D) 3M Post-it Flag+ Highlighter
E) Dr. Care toothpaste

Question 58

local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you decide not to vote for her.Marketing will not occur in this situation because __________.

A) marketing doesn't apply to the voting process
B) the desire and ability to satisfy needs is missing
C) there is no direct way for the parties to communicate
D) something to exchange is missing
E) the candidate's message is compelling

Question 59

economics student would like to buy a mini-scooter but she cannot afford one.Which of the following reasons explain why marketing fails to occur here?

A) There are not two or more parties with unsatisfied needs.
B) A desire to satisfy a need is missing.
C) No assessments of consumer wants and needs have been made.
D) There is no way for the parties involved to communicate.
E) The ability to satisfy a need is missing.

Question 60

New-product experts generally estimate that up to __________ percent of the more than 40,000 new consumable products introduced in the United States annually "don't succeed in the long run."

A) 33
B) 50
C) 67
D) 75
E) 94

Question 61

Which of the following statements best defines consumer needs and wants?

A) Needs are far more influential than wants with respect to marketing decision making.
B) Wants affect marketing decisions primarily for planned purchases while needs affect marketing decisions primarily for impulse purchases.
C) Wants occur when a person feels deprived of basic necessities such as food, clothing, and shelter while needs are determined by a person's knowledge, culture, or personality.
D) Needs occur when a person feels deprived of basic necessities such as food, clothing, and shelter while wants are determined by a person's knowledge, culture, or personality.
E) Needs and wants are exactly the same.

Question 62

need refers to

A) a sense of personal inadequacy based upon observations by others around you.
B) a sense of urgency, which causes a person to take action.
C) a feeling that is shaped by a person's knowledge, culture, or personality.
D) a feeling of being deprived of something, but not fully understanding what it may be.
E) a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.

Question 63

most likely market for cosmetic dentistry,which can cost $15,000 for straightening and whitening,is

A) toddlers with crooked baby teeth, when crooked teeth run in the family.
B) all former smokers who have been smoke free for at least one year.
C) anyone who has the time, the money, and the desire to undergo the procedures.
D) anyone who has dental insurance.
E) adults who want to make a good first impression for a job interview.

Question 64

brand briefcases are very expensive,high-end briefcases that are generally sold in specialty luggage shops.Which of the following groups would be the most likely target market for TUMI brand briefcases?

A) police officers
B) executives
C) construction workers
D) postal workers
E) students

Question 65

Figure 1-3
Figure 1-3 above,"A" represents __________ and "B" represents __________.

A) management; shareholders
B) employees; stakeholders
C) sales; manufacturing
D) R&D; customers
E) discovering consumer needs; satisfying consumer needs

Question 66

target market refers to

A) people who could purchase a product regardless of who ultimately uses it.
B) one or more specific groups of potential consumers toward which an organization directs its marketing program.
C) former customers who now use competitors' products.
D) the cluster of benefits that an organization focuses on to satisfy consumers' needs.
E) people with both the desire and the ability to buy a specific offering.

Question 67

__________ is a need that is shaped by a person's knowledge,culture,and personality.

A) desire
B) demand
C) utility
D) want
E) craving

Question 68

Which of the following groups would be the LEAST LIKELY target market for a company producing canned food in single serving sizes?

A) single adults
B) school kitchens
C) campers
D) senior citizens
E) vending machine owners

Question 69

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 beverages,appeals to the consumers' __________ for liquid refreshment to quench their thirst and attempts to shape their __________ for the advertised product.

A) needs; wants
B) wants; needs
C) wants; cravings
D) cravings; needs
E) needs; preferences

Question 70

Which of the following people would MOST LIKELY be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

A) all people with an interest in professional football
B) all people in the Midwest who have an interest in sports
C) all men who played on a varsity football team in high school
D) all people in the Indianapolis and surrounding areas interested in football
E) all people in Indiana who watch football on TV

Question 71

__________ occurs when a person feels deprived of basic necessities such as food,clothing,and shelter.

A) desire
B) need
C) utility
D) want
E) craving

Question 72

People with both the desire and ability to buy a specific offering are referred to as [a(n)] __________.

A) shoppers
B) customer base
C) market
D) bazaar
E) emporium

Question 73

Figure 1-3
Figure 1-3 above,"B" is accomplished by __________.

A) designing a marketing program
B) developing the 5 Ps
C) discovering consumer needs
D) developing a marketing plan
E) identifying target markets

Question 74

Kraft produces Lunchables,a prepackaged meal usually consisting of several crackers,small slices of meat,and small slices of cheese.Some items in the product line contain Capri Sun drinks,water,or a small portion of Dole fruit.The box is bright yellow and the quantity of food contained within it is small.The target market for Kraft Lunchables is MOST LIKELY:

A) moms with school-age children who pack a simple healthy lunch for them.
B) business people looking for a fulfilling breakfast at the office.
C) business travelers on the run.
D) teenagers who are hungry for an after-school snack.
E) baby boomers who are trying to lose weight.

Question 75

of the following are examples of products or services that satisfy a consumer need EXCEPT:

A) a pair of jeans.
B) an apple.
C) a student dormitory.
D) a sports car.
E) a jacket.

Question 76

target market refers to

A) customers who have already purchased a firm's product at least once, have been satisfied, and are likely to be repeat purchasers.
B) both existing and potential customers who have used a competitor's product, are dissatisfied, and who now seek a different product or service to satisfy their needs.
C) a specific group of current consumers toward which an organization directs its advertising.
D) one or more specific groups of potential consumers who are seeking a product for which there are no current substitutes.
E) one or more specific groups of potential consumers toward which an organization directs its marketing program.

Question 77

a marketing context,a market refers to

A) people with a similar want for a particular product or service.
B) people with both the desire and ability to buy a specific offering.
C) the central location for all buying and selling of products and services.
D) an open space or covered building where vendors convene to sell their offerings.
E) the free the operation of supply and demand.

Question 78

or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

A) mass market.
B) tangential market.
C) potential market.
D) target market.
E) promotional market.

Question 79

want refers to

A) a sense of personal inadequacy based upon observations by others around you.
B) a sense of urgency that causes a person to take action.
C) a need that is shaped by a person's knowledge, culture, or personality.
D) a feeling of being deprived of something, but not fully understanding what it may be.
E) a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.

Question 80

markets ultimately are composed of __________.

A) people
B) brands
C) products
D) organizations
E) reference groups