Question 1

Which person is the best example of an organizational buyer?

Accepted Answer

An organizational buyer is someone who purchases goods or services for business purposes, such as resale or production. The store owner buying tablecloths to sell in her store fits this definition.

Question 2

Effective marketing benefits society because it

Accepted Answer

Effective marketing enhances competition, which leads to improved quality of products and services and often results in lower prices, benefiting society as a whole.

Question 3

In marketing, utility refers to

Accepted Answer

Utility in marketing refers to the benefits or customer value received by users of the product, which is the satisfaction or usefulness derived from the product.

Question 4

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

Accepted Answer

Redbox creates place utility by making movies and games available at convenient locations, and time utility by allowing rentals and returns 24/7.

Question 5

The four utilities marketing creates are

Accepted Answer

Marketing creates utility by ensuring products are available in the right form, at the right place, at the right time, and in a way that allows consumers to take possession.

Question 6

Which example best demonstrates form utility?

Accepted Answer

Form utility is created by designing a product in a way that makes it more useful or appealing to consumers. A smartphone with a multitouch user interface enhances the product's usability and appeal, demonstrating form utility.

Question 7

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

Accepted Answer

Time utility refers to the availability of products when customers need them. By carrying baseballs, footballs, and tennis equipment year-round, Dick's Sporting Goods ensures that these products are available whenever customers want to purchase them, thus providing time utility.

Question 8

FreshCase packaging is the first-ever vacuum package for red meat that maintains the meat's appetizing color, reducing both food and plastic waste. This is an example of creating __________ utility in the case-ready meat category.

Accepted Answer

Form utility is created by changing the physical characteristics of a product to make it more appealing or useful to consumers. FreshCase packaging enhances the form of the meat by maintaining its color, thus increasing its appeal.

Question 9

BioFuel Energy, a Minnesota ethanol producer can turn corn into ethanol, creating ________ utility.

Accepted Answer

Form utility is created when raw materials are transformed into finished products, such as turning corn into ethanol.

Question 10

Which of these is an example of time utility?

Accepted Answer

Time utility refers to providing products or services at a time that is convenient for consumers. Goodwill's 24-hour drop-off box allows customers to donate clothing at any time, enhancing convenience.

Question 11

The value to consumers that comes from the production of a product or service constitutes ________ utility.

Accepted Answer

Form utility is the value added to a product or service by changing its form, thereby making it more useful or desirable to consumers.

Question 12

Organizational buyers are described as

Accepted Answer

Organizational buyers are entities like manufacturers, retailers, or government agencies that purchase products for their own use in production, for operations, or for resale, distinguishing them from individual consumers.

Question 13

Entities such as manufacturers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

Organizational buyers are entities that purchase goods and services for their own use or for resale, including manufacturers, retailers, and government agencies.

Question 14

The value to consumers that comes from having the offering available when they need it constitutes __________ utility.

Accepted Answer

Time utility refers to the value added to a product or service by having it available when consumers need or want it.

Question 15

Innovations in the textile industry have led to fabrics that help regulate body temperature, reduce wind resistance, and control muscle vibration, all of which help improve athletic performance. This shows how manufacturing can create __________ utility.

Accepted Answer

Form utility is created when the manufacturing process transforms raw materials into finished products that are more useful and valuable to consumers, such as fabrics that enhance athletic performance.

Question 16

Which person is an example of an ultimate consumer?

Accepted Answer

The schoolteacher is an ultimate consumer because she is purchasing the haircut for her personal use, not for business or resale purposes.

Question 17

The value to consumers that comes from having the offering available where consumers need it constitutes __________ utility.

Accepted Answer

Place utility is the value to consumers that comes from having the offering available where consumers need it.

Question 18

American Express cardholders have access to early presales for Ariana Grande concert tickets in many cities. What utility does American Express offer in this instance?

Accepted Answer

American Express offers time utility by providing cardholders with early access to purchase concert tickets before they are available to the general public.

Question 19

Which statements is an example of place utility?

Accepted Answer

The answer of Which statements is an example of place...

Question 20

The benefits or customer value received by users of a product is called

Accepted Answer

Utility refers to the benefits or satisfaction that consumers receive from using a product or service.

Quiz 1: Creating Customer Relationships and Value Through Marketing