Question 1

The principles of marketing can apply to people,just as they apply to goods and services.

Accepted Answer

The principles of marketing, such as understanding customer needs and wants, creating value, and promoting products, can be applied to people in terms of personal branding, social media presence, and networking.

Question 2

Seth's mother didn't want to have a climbing wall as a permanent feature in her backyard,but it was certainly convenient to rent one from the company that catered Seth's 12th birthday party.The catering company created both ________ utility when it rented her the climbing wall.

Accepted Answer

The catering company provided "time" utility by making the climbing wall available for the specific event (Seth's birthday party) and "place" utility by delivering it to the backyard where the party was held.

Question 3

Automobiles,haircuts,tutoring,and lighting fixtures are all examples of consumer goods.

Accepted Answer

Automobiles, haircuts, tutoring, and lighting fixtures are not all examples of consumer goods; automobiles and lighting fixtures are consumer goods, but haircuts and tutoring are services.

Question 4

The term "marketing" is synonymous with the term "advertising."

Accepted Answer

While advertising is a component of marketing, marketing encompasses a broader range of activities such as market research, product development, pricing strategies, and distribution channels.

Question 5

Within the context of the marketing mix,place refers to the availability of the product to the customer at the desired time and location.

Accepted Answer

Place is one of the 4 Ps of the marketing mix, and it refers to how and where the product or service is made available to the target customer. It encompasses various aspects such as distribution channels, logistics, transportation, inventory management, retail format, and online presence. The goal of place is to ensure that the product reaches the right customer at the right time, in the right quantity, and in the right condition.

Question 6

Many not-for-profit organizations use marketing principles.

Accepted Answer

Not-for-profit organizations use marketing principles to promote their cause, recruit volunteers, and raise funds. They use various marketing techniques such as social media, email campaigns, and events to reach out to their target audience and create awareness about their mission.

Question 7

Two teachers purchased art supplies for their classes.One paid $103.45 for eight large boxes of crayons.The other teacher purchased ten identical boxes for $105.55.The second teacher got more for her money because she took advantage of a quantity discount,a reduced price for buying ten or more boxes.Which element of the marketing mix most directly relates to these purchases?

Accepted Answer

The element of the marketing mix that directly relates to these purchases is price. The second teacher was able to take advantage of a quantity discount, which means that the price per box was lower when buying more. This highlights the impact of pricing strategies on consumer behavior and sales.

Question 8

Shane pulled her car into the gas station just as the fuel gauge dropped below empty.In this example,Shane benefited from the ________ utility offered by the gas station.

Accepted Answer

The gas station provided a convenient location for Shane to purchase fuel when her car was running low. This is an example of place utility, which refers to the benefit consumers receive from the location or accessibility of a product or service.

Question 9

The elements of the marketing mix are the four Ps.

Accepted Answer

The four Ps of marketing mix are Product, Price, Place, and Promotion.

Question 10

The promotion element of the marketing mix includes the design of the product.

Accepted Answer

The promotion element of the marketing mix involves advertising, sales promotions, personal selling, public relations and direct marketing. The design of the product is a part of the product element of the marketing mix.

Question 11

A(n)________ occurs when Kirin Albers trades Max Lynch three hours of babysitting his three-year-old daughter for fixing the hole in his porch roof.

Accepted Answer

The scenario describes a trade or transaction where Kirin Albers offers babysitting services in exchange for Max Lynch's assistance in fixing the porch roof. This is an example of an exchange.

Question 12

Although having something to eat or drink may be a want,the desire for a specific brand name is referred to as a need.

Accepted Answer

The statement is incorrect. The desire for a specific brand name is considered a want, not a need. Needs are necessities for survival, such as food, water, and shelter.

Question 13

An entertainer such as Garth Brooks,a television show,and a magazine subscription are all examples of products.

Accepted Answer

All three examples mentioned are products.

Question 14

Very little of the online action in e-commerce is in business-to-business marketing.

Accepted Answer

According to recent studies, a significant amount of online action in e-commerce is in business-to-business marketing.

Question 15

Conveniently located vending machines around your college or university campus make it easy for you to buy a soda and a snack between classes.This is an example of the ________ element of the marketing mix.

Accepted Answer

The option describes the location or distribution of the product, which is an essential element of the marketing mix.

Question 16

Ria,a college sophomore,writes a daily blog that typically has over 50,000 readers each week.Ria is an example of a microcelebrity.

Accepted Answer

A microcelebrity is a person who has a modest celebrity status due to their online presence and following, typically on social media. With over 50,000 readers each week, Ria fits the definition of a microcelebrity.

Question 17

The marketing mix is the marketer's strategic toolbox.

Accepted Answer

The marketing mix refers to the set of tools or tactics that a marketer uses to promote a product or service. These tools include product, price, promotion, and place (distribution). The marketer's use of these tools can have a significant impact on the success of their marketing campaign. Therefore, the marketing mix is considered the marketer's strategic toolbox.

Question 18

Marketers define a need as the difference between a consumer's actual state and some ideal or desired state.

Accepted Answer

This is a common definition of need in marketing. It highlights the idea that consumers are driven by a desire to improve their current situation or meet some unfulfilled desire or want.

Question 19

The pricing element of the marketing mix always involves monetary exchanges.

Accepted Answer

The pricing element of the marketing mix can also involve non-monetary exchanges, such as time, attention, or data from the customer.

Question 20

A sign manufacturer who uses plastic,metal,and neon tubing to create a motel sign has performed the marketing benefit of creating ________ utility.

Accepted Answer

The sign manufacturer has created form utility by transforming raw materials (plastic, metal, and neon tubing) into a finished product (motel sign) that can be used by customers.

Quiz 1: Welcome to the World of Marketing