Question 1

By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to

Accepted Answer

Calvin Klein is trying to increase the perceived value of its products by associating them with desirable attributes like youth, style, and sex appeal, which can make the products more appealing to consumers.

Question 2

The marketing goal of getting the "right quantities to the right locations, at the right time" relates to

Accepted Answer

The marketing goal of getting the "right quantities to the right locations, at the right time" involves the efficient management of the supply chain, including the procurement of raw materials, production planning, inventory management, and transportation logistics. This is critical for ensuring that products are available when and where customers want them, and that costs are minimized throughout the supply chain.

Question 3

Sturdy Construction has been a successful, small, home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Sturdy rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Sturdy Construction is engaged in

Accepted Answer

Sturdy Construction's approach of paying subcontractors slightly more to ensure reliability and quality, and maintaining long-term relationships with them for better service and quick problem resolution, aligns with effective supply chain management. This strategy focuses on optimizing the flow of products and services from supplier to customer to enhance overall value and efficiency.

Question 4

It is Mallory's job to make sure the company's products are shipped to the distribution center from the production center to fulfill customer orders. Which element of the marketing mix does her job focus on?

Accepted Answer

Mallory's job focuses on the distribution and transportation of the company's products to the distribution center, which falls under the element of the marketing mix known as "place," also known as "distribution."

Question 5

Not only does GIS technology help Starbucks determine the ideal locations for new stores, but it also enables the company to decide what kinds of stores to open. This technology helps the company with which marketing mix decision?

Accepted Answer

GIS technology helps Starbucks with the "place" element of the marketing mix. It helps the company determine the ideal locations for new stores and decide what types of stores to open.

Question 6

Effective promotion enhances a product or service's

Accepted Answer

Effective promotion can increase the perceived value of a product or service by highlighting its unique features and benefits, leading to increased consumer interest and willingness to pay a higher price.

Question 7

Which company activity is identified as the set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large?

Accepted Answer

Marketing is defined as the set of institutions and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Human resources involves managing employees, accounting involves financial management, manufacturing involves production of goods, and sales involves the process of selling goods or services.

Question 8

By allowing consumers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to ________ marketing.

Accepted Answer

C2C (consumer-to-consumer) marketing involves transactions between individual consumers, which is the model used by auction sites like eBay and Etsy where consumers sell goods directly to other consumers.

Question 9

Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?

Accepted Answer

Internet sites, physical stores, and kiosks are all related to the place element of the marketing mix, which refers to the channels or locations where the product or service is sold or delivered to the target market.

Question 10

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from ________ to ________ marketing.

Accepted Answer

The car manufacturers were considering switching from selling to other businesses (B2B) to selling directly to consumers (B2C). Choice A (B2C to B2B) and E (C2C to B2C) are not relevant to the scenario described. Choice D (B2B to C2C) is incorrect as the manufacturers were not considering selling to other consumers.

Question 11

UPS, FedEx, and other shipping companies support other firms' ________ marketing goals.

Accepted Answer

Shipping companies such as UPS and FedEx support other firms' supply chain management goals by providing transportation and logistics services to ensure efficient and timely delivery of products to customers.

Question 12

Many marketing students initially overlook the importance of marketing channel management because

Accepted Answer

Marketing channel management typically involves activities like distribution, logistics, and inventory management, which are largely behind-the-scenes processes. While customers may not directly see or interact with these activities, they are crucial for ensuring that products are delivered efficiently and effectively to end consumers. Thus, marketing students should not overlook the importance of marketing channel management.

Question 13

Which statement is true of marketing?

Accepted Answer

Marketing affects various stakeholders, including customers, employees, shareholders, suppliers, and the community. It is not solely focused on satisfying the company's needs and wants, but also on creating value for all stakeholders. Marketing involves decisions related to the four Ps: product, price, promotion, and place, and it can be performed by both organizations and individuals.

Question 14

Meredith's current task at work is to determine how much the new product should cost and how it will be promoted. What is Meredith working on?

Accepted Answer

Meredith is working on determining the price and promotion strategy for the new product, which falls under the marketing plan. The other options are not relevant to this particular task.

Question 15

When retailers sell to consumers it is considered ________ marketing.

Accepted Answer

B2C stands for "business to consumer" and describes the transactional relationship between a business and individual consumers. Retailers selling directly to consumers would fall under this category.

Question 16

________ represents all the activities necessary to get the product to the right customer when that customer wants it.

Accepted Answer

Place refers to the activities involved in getting the product to the right customer at the right time, which includes distribution and logistics.

Question 17

________ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions and elicit a response.

Accepted Answer

The definition provided describes the concept of promotion, which is one of the four Ps of the marketing mix that involves communication between the company and the customer to inform them about a product, persuade them to buy it, and remind them of its benefits. Pricing (A) refers to the process of setting a price for a product, placement (C) involves decisions related to where the product will be sold and distributed, while a relational orientation (D) and value cocreation (E) are broader marketing strategies that focus on building long-term relationships with customers and creating mutual value.

Question 18

Traditionally, marketing activities have been divided into the four Ps: product, price, place, and promotion. The four Ps represent the

Accepted Answer

The four Ps (product, price, place, and promotion) represent the marketing mix, which refers to the set of tools and tactics that a business uses to promote its products or services to its target customers. The marketing mix is an essential part of a company's overall marketing strategy, and it helps to ensure that the right product is offered at the right price, in the right place, and with the right promotional activities.

Question 19

Marketing channel management is also known as

Accepted Answer

Marketing channel management is the process of planning, implementing, and controlling the activities of intermediaries in the distribution channel. This involves managing the supply chain, which includes all the activities involved in delivering the product or service to the customer, from sourcing raw materials to delivering the finished product to the end user. Thus, marketing channel management is also known as supply chain management. Choices A, B, C, and D are either too specific or not related to marketing channel management.

Question 20

An organization on cycling safety visits an elementary school and gives a presentation on the importance of wearing helmets while riding a bike. After listening to the presentation, which action indicates that an exchange of valuable ideas has taken place?

Accepted Answer

The exchange of valuable ideas would involve the students understanding the importance of wearing helmets and deciding to take action by wearing them while riding their bicycles. This shows a change in behavior and adoption of the safety measure, indicating that the message was received and understood.

Quiz 1: Overview of Marketing