Question 1

The three basic forms that a product can take are

Accepted Answer

The three basic forms that a product can take are goods, ideas, and services. This is the most commonly accepted categorization in marketing, with goods referring to tangible physical products, services referring to non-physical offerings, and ideas referring to concepts or beliefs.

Question 2

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

Accepted Answer

Hours of operation relate to how the service is being distributed to customers. It is not related to the product itself, its price or promotional activities, but rather to how it is made available to customers.

Question 3

Making modifications to packaging or brand names involves the ____ component of the marketing mix.

Accepted Answer

The product component of the marketing mix involves decisions on modifications to the actual product, including packaging and branding.

Question 4

A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's

Accepted Answer

The commercial is aimed at mothers, indicating that the target market for SunnyD is mothers, who are likely the primary purchasers of the drink for their children.

Question 5

Distribution, price, promotion, and product are all elements of

Accepted Answer

The marketing mix consists of the four Ps: product, price, promotion, and distribution. These are the elements that a marketer can manipulate in order to achieve their marketing goals and reach their target audience.

Question 6

Consumers buying products online have dramatically affected the ____ variable of the marketing mix.

Accepted Answer

Consumers buying products online have dramatically affected the distribution variable of the marketing mix, as the traditional brick-and-mortar channels have been replaced by online channels.

Question 7

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

Accepted Answer

The essential variables that a marketing manager combines include product, price, distribution, and promotion variables. These four variables make up the four Ps of the marketing mix and are necessary to satisfy customer needs for a general type of product. Option A is the correct answer as it includes all of these essential variables. Option B is incorrect as the marketing environment variables are not the essential variables that the marketing manager combines. Option C is incorrect as it only includes product and promotion variables, leaving out price and distribution variables. Option D is also incorrect as it only includes product, price, and customer variables, leaving out distribution and promotion variables. Option E includes all four essential variables, but also includes customer variables which are not typically considered part of the marketing mix.

Question 8

A physical product you can touch is a(n)

Accepted Answer

A physical product is a tangible object that can be touched, held, and seen. This matches the definition of a good. Services (choice A) are intangible and involve an action or performance, such as getting a haircut or hiring a lawyer. Ideas (choice C), concepts (choice D), and philosophies (choice E) are all abstract concepts that cannot be physically touched.

Question 9

Rob Donaldson runs a successful wholesale business that sells equipment to restaurants throughout the Midwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

Accepted Answer

The decision to purchase a fleet of trucks indicates a consideration of the best way to distribute his products. This decision is an important one as it can impact the cost, efficiency, and quality of delivery. Therefore, B is the best choice. The other options are not relevant to the decision to purchase a fleet of trucks for delivery.

Question 10

The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n)

Accepted Answer

The definition provided perfectly matches the concept of a service, which involves applying mechanical and human efforts to provide intangible benefits to customers. The other options - issue, experience, idea, and good - do not accurately reflect this definition.

Question 11

Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.

Accepted Answer

Inventory levels and storage costs are both related to the distribution variable of the marketing mix, as they both pertain to the management and flow of products from the manufacturer or supplier to the end customer. The distribution variable includes decisions about how to get products to customers, where to store them, and how much inventory to keep on hand.

Question 12

The Church of the Latter Day Saints has used advertising for many years, airing a commercial TV spot that shows parents actively playing games with their children. The Church is using marketing to promote its

Accepted Answer

The Church of the Latter Day Saints is not promoting goods or services, as they are a religious organization. They are also not promoting experiences or production. The TV spot is promoting the idea of family values and spending time with loved ones, which aligns with the beliefs of the Church. Therefore, the best choice is E - ideas.

Question 13

Which of the following is most likely to be an idea marketer?

Accepted Answer

The answer of Which of the following is most likely...

Question 14

Marketing managers strive to develop a marketing mix that

Accepted Answer

The purpose of a marketing mix is to create a product, price, promotion, and place strategy that meets the needs and wants of the target market. Therefore, the correct answer is D, which states that the marketing mix needs to match the needs of the target market. The other choices are not necessarily the primary objective of developing a marketing mix. While minimizing costs and utilizing the firm's abilities are important considerations, they should not be the only factors when creating a marketing mix. Matching competitor offerings and generating high sales may not align with the needs of the target market, which is the ultimate goal of the marketing mix.

Question 15

Which of the following companies is the best example of a service marketer?

Accepted Answer

FedEx is a courier and delivery service company, which offers services rather than physical products, making it the best example of a service marketer among the given choices.

Question 16

The marketing mix is built around the

Accepted Answer

The marketing mix (also known as the 4 P's - Product, Price, Promotion, and Place) is a strategic approach to creating a successful marketing plan. The customer is at the center of the marketing mix, as all decisions regarding product, price, promotion, and place should be made with the customer in mind. This means understanding customers' wants and needs, preferences, and purchasing behavior in order to create a product and marketing plan that appeals to them.

Question 17

Deciding to add gel insoles to its running shoes would be a change in the ____ element of the marketing mix for Nike.

Accepted Answer

Adding gel insoles to the running shoes is a change in the product element of the marketing mix, as it is a modification to the physical characteristics of the product being offered.

Question 18

Mothers Against Drunk Driving (MADD) is a group that works to change attitudes and laws about driving under the influence of alcohol. MADD primarily markets

Accepted Answer

MADD's goal is to change attitudes and laws surrounding driving under the influence, which is an idea, rather than a physical good or service. MADD does not market political figures or applications.

Question 19

The product variable of the marketing mix can include all of the following except

Accepted Answer

Product variable typically focuses on product features, development, design, packaging, branding, warranty, and repair services. Consumer perception of the product price is part of the price variable of the marketing mix.

Question 20

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

Accepted Answer

The target market refers to the specific group of consumers that the product is designed for, in this case, those concerned about their heart health.

Quiz 1: An Overview of Strategic Marketing