Question 1

The entirely new food category Chobani launched in 2005 was

Accepted Answer

Chobani launched Greek-style yogurt, which was a completely new food category in the US market at the time.

Question 2

Mark Zuckerberg is a co-founder of the social networking website called __________.

Accepted Answer

Mark Zuckerberg is a co-founder of Facebook, which is the largest social networking website in the world with over 2.7 billion monthly active users as of 2021. He launched the website from his dorm room at Harvard University in 2004.

Question 3

__________ of all new businesses fail within five years of their launch.

Accepted Answer

According to research, over 50% of all new businesses fail within five years of their launch.

Question 4

More than half of all new businesses fail within __________ years of their launch.

Accepted Answer

According to research, more than half of all new businesses fail within the first five years of their launch.

Question 5

An organization's stockholders,its suppliers,its employees,its customers,and society at large all share what in common with regard to an organization?

Accepted Answer

All of the mentioned groups are stakeholders in an organization, and it is widely accepted that marketing should benefit all stakeholders, not just the stockholders or owners of the organization. This is known as the stakeholder or societal marketing concept, which emphasizes the importance of considering the interests of all stakeholders in marketing decision-making.

Question 6

Mizuno designs and sells high quality baseball gloves.Who does NOT benefit from the firm's marketing activities for its gloves?

Accepted Answer

All stakeholders, including society at large, should benefit from Mizuno's marketing efforts, as effective marketing can enhance brand reputation, increase sales, and contribute to economic and social well-being.

Question 7

To serve both buyers and sellers,marketing seeks to __________ and satisfy the needs and wants of prospective customers.

Accepted Answer

Marketing seeks to discover the needs and wants of prospective customers in order to serve both buyers and sellers. Manipulation, creation, and measurement may be involved in marketing, but they are not the primary purpose.

Question 8

From its inception,where did Hamdi Ulukaya,the creator of Chobani,Inc. ,want to place Chobani yogurt?

Accepted Answer

According to the article, Ulukaya's goal was "to put Chobani in every dairy case in America." There is no mention of independent organic cooperatives, farmer's markets, or mass merchandise stores like Target. While Chobani may also be available in warehouse club stores, it seems that Ulukaya's initial target was major grocery store chains.

Question 9

Which of the following statements about stakeholders is MOST ACCURATE?

Accepted Answer

The most accurate statement about stakeholders is that the suppliers, shareholders, employees, and customers are all stakeholders of an organization and all should benefit from the organization's marketing activities. This view of stakeholders is the most comprehensive and recognizes that organizations have multiple groups of stakeholders with various interests that must be taken into account. It also emphasizes the importance of creating value for all stakeholders, rather than just the ultimate consumer or those with a financial investment.

Question 10

Whether an individual is buying for personal or household use,or an organization is buying for its own use or for resale,the individual or organization would be considered

Accepted Answer

The answer of Whether an individual is buying for personal...

Question 11

All of the following are true about marketing EXCEPT:

Accepted Answer

Marketing does not only focus on persuading people to buy products but rather emphasizes delivering genuine benefits to customers. Marketing aims to understand customer needs and create products that meet those needs, rather than forcing customers to buy something they do not want or need.

Question 12

The combined American Marketing Association's 2004 and 2007 definitions of marketing used in the textbook define marketing as

Accepted Answer

The combined AMA definitions of marketing used in the textbook emphasize the importance of creating, communicating, delivering, and exchanging offerings that benefit not only the organization, but also its customers, stakeholders, and society at large. This broader perspective takes into account the impact of marketing on society and the responsibility of marketers to create value for all stakeholders.

Question 13

To serve both buyers and sellers,marketing seeks to discover and __________ the needs and wants of prospective customers.

Accepted Answer

Marketing aims to satisfy the needs and wants of its potential customers, rather than manipulating or changing them. This creates a mutually beneficial relationship between the buyer and the seller, ultimately leading to successful transactions and customer loyalty.

Question 14

Which of the following statements about marketing is MOST ACCURATE?

Accepted Answer

Marketing involves understanding consumer behavior and making decisions based on that understanding. As a consumer, you have already been involved in marketing decisions whether you realize it or not. Therefore, statement E is the most accurate.

Question 15

All of the following are marketing mix strategies that Chobani has used to sell its yogurt EXCEPT:

Accepted Answer

The answer of All of the following are marketing mix...

Question 16

Mark Zuckerberg 's launch of "TheFacebook.com" website became a huge success.Yet,more than half of all new businesses fail within __________ years of their launch.

Accepted Answer

Most statistics indicate that more than half of all new businesses fail within the first five years of their launch.

Question 17

Initially,Facebook targeted which consumer market segment?

Accepted Answer

Facebook was initially created in 2004 for college students to connect with each other. It expanded to include high school students in 2005 and then opened up to users of all ages in 2006.

Question 18

Mark Zuckerberg encountered unimaginable success with his launch of "TheFacebook.com" website from his college dorm room.By the end of the second week,it had almost __________ members.

Accepted Answer

The answer of Mark Zuckerberg encountered unimaginable success with his...

Question 19

The activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large is referred to as __________.

Accepted Answer

The activity described in the question is the definition of marketing. Manufacturing refers to the production of goods, advertising and promotion are components of marketing but do not encompass the entire process, and selling is only one part of the broader marketing process.

Question 20

Marketing refers to

Accepted Answer

Marketing is more than just advertising and promoting products. It involves creating value for customers through the development of offerings that meet their needs and wants while also benefiting the organization, its stakeholders, and society at large. This includes activities like market research, product design, pricing, distribution, and promotion. Therefore, the best choice is E.

Quiz 1: Creating Customer Relationships and Value Through Marketing