Question 1

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Accepted Answer

The answer of Describe the marketing mix actions mentioned in...

Question 2

Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.
A)form
B)time
C)price
D)possession
E)place

Accepted Answer

Possession utility refers to making a product available to the customer. The fact that the bookstore accepted Robert's VISA card enabled him to possess the Marketing textbook without any delay, even though he was running low on cash.

Question 3

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day. This creates both __________ and __________ utilities.
A)form and place
B)form and time
C)place and time
D)time and possession
E)form and possession

Accepted Answer

Redbox is creating the utility of place, by placing its vending machines in convenient locations, and the utility of time, by allowing customers to rent and return DVDs at any time of the day.

Question 4

Which of the following is an example of time utility?
A)an iPhone with a "multitouch" user interface for easy navigation
B)Goodwill that has a 24-hour drop off box for clothing donations
C)a dry cleaners that is located inside a supermarket
D)a mobile phone company that offers six-month financing, same as cash
E)a new herbal supplement that offers a 30-day free trial

Accepted Answer

Time utility refers to making goods or services available to consumers at the right time. A 24-hour drop off box for clothing donations (option B) is an example of time utility because it allows customers to donate clothes at any time of the day, making it more convenient for them. The rest of the options are examples of other types of utility, such as form utility (option A), place utility (option C), possession utility (option D), and information utility (option E).

Question 5

In China, many people are removing their money from the state banks and lending it out themselves. The interest rate earned in a state bank account is about one-half the rate of inflation. On the other hand, loaning money to friends, relatives, and even unrelated entrepreneurs can often earn the investor a rate at least double the inflation rate. The gray market, an underground network of investors and private businesses, moves the cash from lenders to businesses. Did marketing occur here? Explain your answer.

Accepted Answer

The answer of In China, many people are removing their...

Question 6

The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes __________ utility.
A)time
B)place
C)market
D)possession
E)form

Accepted Answer

Possession utility refers to the value added to a product by making it easier for consumers to acquire it. Credit cards and financial arrangements make it easier for consumers to purchase a product by providing them with options to pay at a later date or in installments, thus adding possession utility.

Question 7

The founder of Chobani Greek Yogurt, who won the 2013 Ernst & Young World Entrepreneur of the Year award, is
A)Mark Zuckerberg.
B)"Trader" Joe Demapolis.
C)Hamdi Ulukaya.
D)Robert M. McMath.
E)David Windorski.

Accepted Answer

Hamdi Ulukaya is the founder of Chobani Greek Yogurt and won the 2013 Ernst & Young World Entrepreneur of the Year award.

Question 8

The difference between "Greek" yogurt and "American" yogurt is that the latter
A)has a gritty texture.
B)has a thin consistency.
C)is not sweet enough for health-conscience palettes.
D)is only sold in health or natural food stores.
E)has high protein content.

Accepted Answer

The answer of The difference between "Greek" yogurt and "American"...

Question 9

Add your own personal experience and creativity to what you have learned about marketing. Formulate a plan to assess the needs of either (1) students who have too many textbooks to carry to and from class or (2) executives who are too busy to keep up with the latest information in their field.

Accepted Answer

The answer of Add your own personal experience and creativity...

Question 10

All of the following are points of difference for Chobani Greek Yogurt EXCEPT:
A)a shorter, wider cup that is more visible on retailers' shelves.
B)preservative-free.
C)a bit lower in protein than regular yogurt.
D)proprietary animal-based thickener to make its "Greek-style" yogurts.
E)a straining process that removes excess liquid whey.

Accepted Answer

The answer of All of the following are points of...

Question 11

Dick's Sporting Goods carries baseballs all year around. The same is true for footballs and tennis equipment. With this all-year-around strategy, Dick's Sporting Goods offers __________ utility for these products.
A)time
B)place
C)possession
D)market
E)form

Accepted Answer

By carrying baseballs, footballs, and tennis equipment all year round, Dick's Sporting Goods is providing time utility for these products, as customers can purchase them at any time they need them. Place utility refers to the convenience of location, possession utility refers to the ease of owning and accessing a product, market utility refers to matching supply with demand in a particular market, and form utility refers to the design, packaging, and features of a product.

Question 12

In addition to consumers, what other people, groups, and environmental forces interact to influence an organization's marketing activities?

Accepted Answer

The answer of In addition to consumers, what other people,...

Question 13

Why are you, as a student, already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

Accepted Answer

The answer of Why are you, as a student, already...

Question 14

All of the following current or prospective distribution channels for Chobani Greek Yogurt EXCEPT:
A)convenience stores.
B)drug stores.
C)mass merchandisers.
D)supermarkets.
E)vending machines.

Accepted Answer

There is no mention of vending machines as a current or prospective distribution channel for Chobani Greek Yogurt in the given information.

Question 15

Some people may assume that for a marketer, the only thing of value for which he or she would "exchange" would be monetary (check, credit/debit, currency, and/or coin transactions). But what else can be exchanged? Provide an example of a nonmonetary transaction that still fits the criteria of exchange.

Accepted Answer

The answer of Some people may assume that for a...

Question 16

Which of the following is an example of possession utility?
A)an iPhone with a large selection of new "apps"
B)the local dairy that offers to deliver bottles of milk to a customer's doorstep
C)disposable diapers that come equipped with resealable tabs
D)a gourmet food store that carries a line of ready-made salads
E)a mobile phone company that offers six-month financing, same as cash

Accepted Answer

Possession utility is the value to the consumer of making an item easy to purchase so consumers can use it.The mobile phone company offers six-month financing,same as cash terms to consumers,thus increasing ease of purchase.

Question 17

Chobani used all of the following tactics to promote its Chobani Greek Yogurt EXCEPT:
A)sponsored the Food Network's Rachel vs. Guy Kids Kick-Off TV show with its Chobani Champions Tubes.
B)created a website to provide consumers with recipes that use Chobani Greek Yogur.
C)sponsored the 2012 and 2014 U.S. Olympic Teams.
D)used social networks like Facebook, Twitter, Pinterest, and Instagram.
E)relied on word-of-mouth in its early years.

Accepted Answer

Chobani did not sponsor the Food Network's Rachel vs. Guy Kids Kick-Off TV show with its Chobani Champions Tubes.

Question 18

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Accepted Answer

The answer of What is the abridged American Marketing Association...

Question 19

What four factors are required for marketing to occur?

Accepted Answer

The answer of What four factors are required for marketing...

Question 20

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.

Accepted Answer

The answer of What are the two key objectives of...

Quiz 1: Creating Customer Relationships and Value Through Marketing

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day. This creates both and utilities.

Which of the following is an example of time utility?

The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes __________ utility.

The founder of Chobani Greek Yogurt, who won the 2013 Ernst & Young World Entrepreneur of the Year award, is

The difference between "Greek" yogurt and "American" yogurt is that the latter

Add your own personal experience and creativity to what you have learned about marketing. Formulate a plan to assess the needs of either (1) students who have too many textbooks to carry to and from class or (2) executives who are too busy to keep up with the latest information in their field.

All of the following are points of difference for Chobani Greek Yogurt EXCEPT:

Dick's Sporting Goods carries baseballs all year around. The same is true for footballs and tennis equipment. With this all-year-around strategy, Dick's Sporting Goods offers __________ utility for these products.

In addition to consumers, what other people, groups, and environmental forces interact to influence an organization's marketing activities?

Why are you, as a student, already somewhat of a marketing expert before taking this course? Provide a specific example from your own personal experience and relate it to something you just "formally" learned about marketing.

All of the following current or prospective distribution channels for Chobani Greek Yogurt EXCEPT:

Which of the following is an example of possession utility?

Chobani used all of the following tactics to promote its Chobani Greek Yogurt EXCEPT:

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

What four factors are required for marketing to occur?

What are the two key objectives of marketing? Define "exchange" and explain how it supports these objectives.