Question 1

A _ is a desire for a particular product we the consumer uses to satisfy him in a specific way that is culturally and socially influenced.

Accepted Answer

A "want" is a desire for a specific product that is influenced by cultural and social factors, distinguishing it from basic needs.

Question 2

Which of the following is an example of a transaction that might occur in business- to business marketing?

Accepted Answer

In business-to-business (B2B) marketing, transactions occur between businesses. Option A describes a retailer purchasing products to sell, which is a B2B transaction.

Question 3

To be part of the the consumers must want to own the product and also have the means to obtain it.

Accepted Answer

A market consists of consumers who both desire a product and have the means to purchase it.

Question 4

A market position refers to .

Accepted Answer

Market position refers to how an organization wants its products to be perceived in relation to the competition's products.

Question 5

The is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

Accepted Answer

A marketing plan is a comprehensive document that outlines a company's marketing environment, objectives, strategies, and responsibilities for implementing the marketing strategy.

Question 6

Kao Corp.,which makes Ban deodorant,invited teenage girls to make an ad that would encourage other girls to buy the product.This ad is an example of .

Accepted Answer

This ad is an example of consumer-generated value, where the company involves consumers in the creation of marketing content to enhance engagement and appeal to the target audience.

Question 7

Marketers ask hard questions about the true value of their efforts and their impact on the bottom line.They are discussing the _ .

Accepted Answer

Marketers are concerned with the return on investment (ROI) as it measures the profitability and effectiveness of their marketing efforts in relation to the costs incurred, directly impacting the bottom line.

Question 8

In which kind of market would a production orientation be most successful?

Accepted Answer

In a seller's market, demand exceeds supply, allowing companies to focus on production rather than customer needs, making production orientation successful.

Question 9

Apple relied on its inventive product designers to create a ,a futuristic looking computer in a multitude of colors.

Accepted Answer

Apple's inventive product designers created a computer with a futuristic look and multiple colors, which is a differential benefit that sets it apart from competitors.

Question 10

In 1993,Jeff Taylor,founder of Monster.com,was head of his own recruitment agency.One day a client said to him,"No more big ideas,I want a monster idea!" The client saw that his current pool of applicants was not as strong as he desired it to be.Therefore,this client was seeking to fulfill a .

Accepted Answer

The client was seeking to fulfill a "need" because he required a stronger pool of applicants to meet his recruitment goals.

Question 11

Josh found the perfect gift for his girlfriend for Christmas.He ordered the gift from a catalog retailer,and the gift arrived safely at Josh's apartment on Christmas Eve.The catalog retailer created utility.

Accepted Answer

The catalog retailer created utility by making the gift available to Josh at his apartment on Christmas Eve. This is an example of place utility.

Question 12

When a firm's capability is superior to that of its competition,the firm has a .

Accepted Answer

A distinctive competency is a firm's unique strength or capability that gives it a competitive advantage over its rivals.

Question 13

provides reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference.

Accepted Answer

A differential benefit refers to the unique advantages or features of a product that set it apart from competitors, justifying a higher price and fostering strong brand loyalty among customers.

Question 14

Michelle wants to buy a car.If she does not have the money to buy a car she is not part of the for cars.

Accepted Answer

The term "market" refers to the group of potential buyers and sellers for a product or service. If Michelle does not have the money to buy a car, she is not part of the market for cars, as she cannot participate in the buying process.

Question 15

Shoppers at The World's Most Famous Surf Shop are _.

Accepted Answer

Shoppers are consumers because they purchase and use the products offered by the surf shop.

Question 16

When you couple desire with the buying power or resources to satisfy a want,the result is a .

Accepted Answer

When desire is coupled with the buying power or resources to satisfy a want, it results in demand.

Question 17

Ruth Terry is a realtor.In her ads,Terry offers the free use of a moving truck to every customer she helps either buy or sell a house.This free use of a moving truck is an example of a(n).

Accepted Answer

The free use of a moving truck is a benefit offered to customers, as it adds value to the service provided by Ruth Terry and can influence a customer's decision to choose her services.

Question 18

The dioramas in the airport that Ron Jon could use to advertise The World's Most Famous Surf is an example of the element of the marketing mix.

Accepted Answer

Dioramas used for advertising are a form of promotion, which is one of the elements of the marketing mix.

Question 19

When asked to discuss the element of his marketing mix,the artisan said,"My average total cost for making a small leaded glass window is $200,and I typically haggle with my customers.I feel that I have done well if I can earn $150 on each window I sell."

Accepted Answer

The artisan is discussing the price element of the marketing mix, as he mentions the cost of production and the profit he aims to make from each sale.

Question 20

Which of the following is an example of a not- for- profit organization that would use marketing principles?

Accepted Answer

The Red Cross is a not-for-profit organization that uses marketing principles to promote its humanitarian missions and attract donations and volunteers.

Quiz 1: Welcome to the World of Marketing: Createand Deliver Value