Question 1

_____ satisfies wants by converting inputs into a finished product.

Accepted Answer

Form utility is the process of converting raw materials or inputs into a finished product that satisfies customers' wants and needs. It involves transforming the product into a shape, size, or design that is useful to the customer. Therefore, A) is the best choice as it correctly defines the process of satisfying wants by converting inputs into finished goods. Ownership utility refers to the process of transferring ownership from the seller to the buyer, place utility refers to making the product available at the right place, and time utility refers to making the product available at the right time.

Question 2

Jason builds and sells cars at a reasonable price. He invented a four­wheel automobile that meets all federal regulations for safety, has several advanced features, and is also reasonable. The selling process is kept absolutely hassle­ free‐customers walk in, sign a one­page agreement to pay $2,000, and drive home in their new automobile. Which of the following kinds of utility is Jason providing?

Accepted Answer

Jason is providing ownership utility by allowing customers to own a new automobile that meets federal safety regulations and comes with several advanced features at a reasonable price. The hassle-free selling process also adds to the ownership utility by making it easy for customers to acquire the product. Time utility refers to the availability of a product at the time when the customer needs it. Place utility refers to the availability of the product at the place where the customer needs it. Form utility refers to the transformation of raw materials and components into finished goods. None of these utilities are relevant to the scenario described in the question.

Question 3

Stay­Inn is a chain of luxury motels. The motels are located near all major highway off­ramps. Their main aim is to provide good accommodation and dining to travelers at a convenient distance from the highways. This is an example of a business providing _____ utility.

Accepted Answer

Stay-Inn is providing place/utility as it is located near major highway off-ramps and providing accommodation and dining to travelers.

Question 4

Green marketing has had a major impact on the fashion industry.

Accepted Answer

Green marketing has brought a significant change in the fashion industry with the rise of ethical and sustainable fashion practices. More and more fashion brands are now focusing on environmentally friendly production processes, using organic and recycled materials, and reducing their carbon footprint. Consumers are also becoming more aware and conscious of the impact of their fashion choices, leading to a demand for sustainable and eco-friendly clothing.

Question 5

Green marketing refers to strategies used by companies to maximize profits through their promotional efforts.

Accepted Answer

Green marketing refers to strategies used by companies to promote environmentally friendly products or services and show their commitment to sustainability, not just to maximize profits.

Question 6

Through the Web, marketers can tap into communities of users that yield valuable information about their goods and services.

Accepted Answer

The statement is true. Marketers can use the Web to access and engage with communities of users and gather insights and feedback about their products and services. This can help them improve their offerings and tailor their marketing messages to better resonate with their target audience.

Question 7

Mass customization involves developing products tailored for individual consumers on a mass basis.

Accepted Answer

Mass customization involves using technology and flexible manufacturing systems to effectively produce customized products for a large number of consumers.

Question 8

The ultimate benefit that most businesses seek from marketing is long­ term _____.

Accepted Answer

The ultimate benefit that most businesses seek from marketing is long-term profitability, which means generating sustainable profits and ensuring the financial viability and growth of the business. Segmentation, mass customization, and ownership utility are important concepts in marketing, but they are means to achieve the ultimate goal of profitability.

Question 9

_____ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Accepted Answer

The definition given in the question pertains to the function of marketing. While production, operations, finance, and other functions are important for the success of an organization, marketing specifically pertains to creating and delivering value to customers and managing customer relationships. Therefore, option B is the best answer as it specifically refers to this set of processes.

Question 10

BettaBikes has begun using a strategy known as mass customization. This means that BettaBikes produces one basic bike style that appeals to a massive customer base.

Accepted Answer

Mass customization refers to producing products that are able to be customized to meet individual needs and preferences, while still being produced in large quantities. Therefore, BettaBikes' strategy does not align with mass customization.

Question 11

Comfi­Rester Furniture buys wood, padding, upholstery, and other inputs. It then cuts, sews, and assembles these materials to produce high­quality, comfortable chairs and sofas as per its customers' requirements and specifications. Which of the following types of utility is being illustrated in this scenario?

Accepted Answer

The scenario is illustrating the production process of Comfi-Rester Furniture in which it is adding value to the inputs by cutting, sewing, and assembling them to create finished products (chairs and sofas) as per customers' specifications. This process highlights the creation of form utility.

Question 12

Through the use of technology, marketers can lower costs and deliver greater value to consumers.

Accepted Answer

With the help of technology, marketers can automate and streamline various processes, thereby reducing costs associated with traditional marketing methods. This, in turn, enables them to deliver greater value to consumers, such as personalized messages, targeted offerings, and improved customer experience.

Question 13

Toyota's effort to promote fuel economy and performance of the Prius without making any real sacrifices is an example of green marketing.

Accepted Answer

Toyota's marketing strategy for the Prius emphasizes its fuel economy and performance while maintaining the same level of comfort and convenience as traditional gas-powered vehicles. This approach is known as green marketing, which involves promoting environmentally friendly products or services without compromising on quality or convenience.

Question 14

Eduardo's boutique specializes in biodegradable umbrellas and bamboo clothing. Eduardo actively promotes the ecological benefits of his products to attract the consumer market that makes purchase decisions based on their convictions. Eduardo's marketing approach is referred to as green marketing.

Accepted Answer

Eduardo's promotion of biodegradable and eco-friendly products falls under the category of green marketing, which emphasizes the ecological benefits of products and services to appeal to consumers who prioritize sustainability and environmental consciousness.

Question 15

Marketers use the Internet to reach larger audiences and to provide them with 24/7 access to information and product choices from all over the world.

Accepted Answer

Marketers can use the Internet to reach a larger audience and provide them with around-the-clock access to information and product options from various parts of the world, making this statement true.

Question 16

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop one­on­one relationships and to identify high­potential new customers.

Accepted Answer

With advanced data collection and management systems, marketers can indeed gather detailed information about individual customers, which enables them to create personalized relationships and spot potential new customers with precision.

Question 17

Although Toyota struggled during the global financial crisis, the more recent earthquake and tsunami in Japan terminated all of Toyota's efforts aimed at promoting the green benefits of the Prius.

Accepted Answer

The statement is incorrect. While the earthquake and tsunami did disrupt Toyota's production and supply chain, it did not terminate all efforts aimed at promoting the green benefits of the Prius. In fact, Toyota continued to promote the Prius and its hybrid technology, even launching new models in the following years.

Question 18

MyWay is an organization that sells GPS navigation devices online. The company accepts all major credit cards and offers a variety of payment options along with free shipping of the units. All of these efforts show that MyWay is making a strong effort to provide _____ utility.

Accepted Answer

MyWay is providing ownership utility by making it easy for customers to purchase the GPS devices through various payment options and accepting major credit cards, facilitating the transfer of ownership from the seller to the buyer.

Question 19

EZ Eats is a local fast food restaurant that is open 24/7. The management guarantees that customers will be served within five minutes of placing an order for any item on their menu. EZ Eats is focusing on satisfying customers by providing _____ utility.

Accepted Answer

EZ Eats is providing time utility by guaranteeing that customers will be served within five minutes of placing their order, demonstrating their focus on providing quick and efficient service.

Question 20

_____ satisfies wants by providing goods and services at a convenient moment for customers.

Accepted Answer

Time utility satisfies wants by providing goods and services at a convenient moment for customers. This means that the product or service is available to the customers when they need it or want it, therefore creating additional value for the customer.

Quiz 11: Marketing: Building Profitable Customer Connections

_____ satisfies wants by converting inputs into a finished product.

StayInn is a chain of luxury motels. The motels are located near all major highway offramps. Their main aim is to provide good accommodation and dining to travelers at a convenient distance from the highways. This is an example of a business providing _____ utility.

Green marketing has had a major impact on the fashion industry.

Green marketing refers to strategies used by companies to maximize profits through their promotional efforts.

Through the Web, marketers can tap into communities of users that yield valuable information about their goods and services.

Mass customization involves developing products tailored for individual consumers on a mass basis.

The ultimate benefit that most businesses seek from marketing is long term _____.

_____ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

BettaBikes has begun using a strategy known as mass customization. This means that BettaBikes produces one basic bike style that appeals to a massive customer base.

Through the use of technology, marketers can lower costs and deliver greater value to consumers.

Toyota's effort to promote fuel economy and performance of the Prius without making any real sacrifices is an example of green marketing.

Eduardo's boutique specializes in biodegradable umbrellas and bamboo clothing. Eduardo actively promotes the ecological benefits of his products to attract the consumer market that makes purchase decisions based on their convictions. Eduardo's marketing approach is referred to as green marketing.

Marketers use the Internet to reach larger audiences and to provide them with 24/7 access to information and product choices from all over the world.

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop oneonone relationships and to identify highpotential new customers.

Although Toyota struggled during the global financial crisis, the more recent earthquake and tsunami in Japan terminated all of Toyota's efforts aimed at promoting the green benefits of the Prius.

MyWay is an organization that sells GPS navigation devices online. The company accepts all major credit cards and offers a variety of payment options along with free shipping of the units. All of these efforts show that MyWay is making a strong effort to provide _____ utility.

EZ Eats is a local fast food restaurant that is open 24/7. The management guarantees that customers will be served within five minutes of placing an order for any item on their menu. EZ Eats is focusing on satisfying customers by providing _____ utility.

_____ satisfies wants by providing goods and services at a convenient moment for customers.

Quiz 11: Marketing: Building Profitable Customer Connections

_____ satisfies wants by converting inputs into a finished product.

Stay­Inn is a chain of luxury motels. The motels are located near all major highway off­ramps. Their main aim is to provide good accommodation and dining to travelers at a convenient distance from the highways. This is an example of a business providing _____ utility.

Green marketing has had a major impact on the fashion industry.

Green marketing refers to strategies used by companies to maximize profits through their promotional efforts.

Through the Web, marketers can tap into communities of users that yield valuable information about their goods and services.

Mass customization involves developing products tailored for individual consumers on a mass basis.

The ultimate benefit that most businesses seek from marketing is long­ term _____.

_____ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

BettaBikes has begun using a strategy known as mass customization. This means that BettaBikes produces one basic bike style that appeals to a massive customer base.

Through the use of technology, marketers can lower costs and deliver greater value to consumers.

Toyota's effort to promote fuel economy and performance of the Prius without making any real sacrifices is an example of green marketing.

Eduardo's boutique specializes in biodegradable umbrellas and bamboo clothing. Eduardo actively promotes the ecological benefits of his products to attract the consumer market that makes purchase decisions based on their convictions. Eduardo's marketing approach is referred to as green marketing.

Marketers use the Internet to reach larger audiences and to provide them with 24/7 access to information and product choices from all over the world.

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop one­on­one relationships and to identify high­potential new customers.

Although Toyota struggled during the global financial crisis, the more recent earthquake and tsunami in Japan terminated all of Toyota's efforts aimed at promoting the green benefits of the Prius.

MyWay is an organization that sells GPS navigation devices online. The company accepts all major credit cards and offers a variety of payment options along with free shipping of the units. All of these efforts show that MyWay is making a strong effort to provide _____ utility.

EZ Eats is a local fast food restaurant that is open 24/7. The management guarantees that customers will be served within five minutes of placing an order for any item on their menu. EZ Eats is focusing on satisfying customers by providing _____ utility.

_____ satisfies wants by providing goods and services at a convenient moment for customers.

StayInn is a chain of luxury motels. The motels are located near all major highway offramps. Their main aim is to provide good accommodation and dining to travelers at a convenient distance from the highways. This is an example of a business providing _____ utility.

The ultimate benefit that most businesses seek from marketing is long term _____.

Using sophisticated data collection and management systems, marketers can now collect detailed information about each customer, which allows them to develop oneonone relationships and to identify highpotential new customers.