Question 1

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

Accepted Answer

The answer of  Figure 1-2
-Figure 1-2 above,"A" represents a...

Question 2

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.

Accepted Answer

All four factors listed are necessary for marketing to occur, but only one of the choices includes all four factors. Choice (E) states that two or more parties with unsatisfied needs are required for marketing to occur, along with desire and ability to be satisfied, a way for the parties to communicate, and something to exchange. None of the other choices include all four factors.

Question 3

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?

Accepted Answer

Both the adjuster and the student have a need for a smartphone and would benefit from purchasing the product. The fact that the adjuster plans to use it for work and the student for entertainment does not make one a more prospective customer than the other.

Question 4

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

Accepted Answer

The letter "C" in the diagram represents a firm's ownership, which typically refers to shareholders. Shareholders are individuals or organizations that have invested money in the company in exchange for ownership, usually in the form of stocks or shares. Therefore, choice C is the best answer.

Question 5

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?

Accepted Answer

In a marketing sense, an exchange can occur when something of value is given and received. Amanda received a feeling of satisfaction in return for her blood donation, which constitutes an exchange.

Question 6

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

Accepted Answer

Executives who value their time and need to travel frequently would benefit the most from the convenience of being able to drive and fly in the same vehicle. However, it is important to note that the cost of $250,000 may not be affordable for all executives.

Question 7

of the following are departments in a typical organization EXCEPT:

Accepted Answer

Suppliers are not a department within an organization. They are external entities that provide goods or services to the organization.

Question 8

marketing department of an organization is responsible for facilitating __________.

Accepted Answer

The marketing department is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations. This includes building and maintaining relationships with key stakeholders in order to achieve the organization's goals and objectives.

Question 9

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

Accepted Answer

The letter "D" represents a firm's relationship with customers, as the arrow points from the firm towards the customers in the diagram.

Question 10

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

Accepted Answer

Exchange refers to the trade of things of value between a buyer and seller so that each is better off after the trade. Financial remuneration refers to payment for services rendered. Countertrade refers to a complex form of international trade where goods and services are exchanged instead of currency. Barter refers to the direct exchange of goods or services without the use of money. Marketing refers to the process of creating, communicating, delivering, and exchanging offerings that have value for customers.

Question 11

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

Accepted Answer

Marketing activities require cross-functional collaboration within a company, so the marketing department works closely with other departments and employees to implement marketing activities. This is the most accurate statement among the options provided. The other options are either false or oversimplify the scope and complexity of marketing activities.

Question 12

marketing,the idea of exchange refers to

Accepted Answer

The idea of exchange in marketing refers to the trade of something valuable, like products or services, between buyer and seller so that each party benefits from the transaction. This exchange can involve monetary payment or bartering, but ultimately it is about the value each party receives from the trade. Option A is too narrow, as it only describes one part of the exchange process. Option B is also incorrect as it only refers to the monetary aspect of exchange. Option D is a specific form of exchange that doesn't encompass all types of trade. Option E is similar to bartering, but not all exchanges involve swapping one product or service for another.

Question 13

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?

Accepted Answer

A marketing exchange involves an exchange of values between two parties. In this case, Cali paid tuition to the university, and in exchange, she received knowledge and skills that directly led to her high paying, fulfilling job offer. While the university may have earned a profit from Cali's tuition, this does not negate the fact that a marketing exchange occurred. Additionally, the fact that the university did not provide tangible products (like textbooks) does not diminish the value of the knowledge and skills Cali received.

Question 14

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

Accepted Answer

In the context of a firm's partnerships, "B" represents suppliers.

Question 15

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

Accepted Answer

Exchange refers to the trade of things of value between buyer and seller so that each is better off after the trade. This process is essential to discover the needs and wants of prospective customers and satisfy them through marketing efforts. Option B, C, D, and E are not the correct definitions of exchange.

Question 16

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?

Accepted Answer

In a marketing sense, an exchange does not necessarily involve money or tangible products. Jack shared his story and received a feeling of joy in return, which constitutes an exchange of value.

Question 17

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.

Accepted Answer

Both parties must have a desire to satisfy their needs and the ability to do so. Without this, there would be no incentive for marketing to occur.

Question 18

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

Accepted Answer

The marketing department cannot work independently and should collaborate with other departments and employees to provide customer satisfaction. This includes market research, product development, and promotion, as well as working with finance, operations, and other departments to ensure customer satisfaction and the overall success of the organization. The marketing department should also be able to suggest where a firm should invest its money based on its knowledge of the market and environmental forces, but this is not their only responsibility. Therefore, option B is not the most accurate statement. Option C is incorrect because the marketing department is responsible for more than just the 4Ps of marketing.

Question 19

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

Accepted Answer

The marketing department is responsible for facilitating relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations. Their main focus is to attract and retain customers through various marketing strategies and campaigns, thereby increasing the organization's revenue and profitability. This department also plays a crucial role in understanding the market trends, customer needs, and competitor strategies to devise effective business plans and product development initiatives.

Question 20

of the following are environmental forces EXCEPT:

Accepted Answer

Environmental forces refer to external factors that affect an organization's performance and strategy. Economic, social, regulatory, and technological are all environmental forces as they are factors that are outside of an organization's control. Customers, on the other hand, are a part of the market environment, which is a subset of the external environment but are not typically considered an environmental force.

Quiz 1: Creating Customer Relationships and Value Through Marketing

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

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.

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?

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