Question 1

A new employee in the marketing department at BMW asks his manager to provide an executive summary of the controllable marketing mix factors for the BMW 6 Series Convertible that he will be working on.His manager gives him a puzzled look,and says: "At BMW,we refer to those factors as ___________."
A)the five external environmental forces
B)macromarketing forces
C)the five Cs
D)the four Ps

Accepted Answer

The controllable marketing mix factors are commonly referred to as the 4Ps of marketing, which are Product (in this case, the BMW 6 Series Convertible), Price, Place (distribution), and Promotion.

Question 2

At a round-table marketing meeting for a food distributor,Kyle explains the most common meaning of a market to the new employees; his definition would be:
A)an open-air gathering of farmers selling their produce.
B)people with the desire and with the ability to buy a specific product.
C)a particular line of products or specific line of merchandise for sale.
D)a group of companies that have goods for sale.

Accepted Answer

The definition provided by Kyle that a market is people with the desire and ability to buy a specific product is the most common and widely accepted definition of a market in a business context. Option A describes a farmers market, which is only one type of market. Option C describes a product line, but not necessarily the market for that product. Option D describes companies that have goods for sale, but again, not necessarily the market for those goods.

Question 3

Jo is eight years old and loves chocolate.Her mother will often give her some chocolate along with fresh fruit.To get more chocolate,she must eat her fresh fruit.In marketing terms,the chocolate is an example of a _____ because it is something she has learned to like.
A)desire
B)need
C)want
D)preference

Accepted Answer

In marketing terms, a "want" is something that a person has learned to desire, as opposed to a "need," which is essential for survival. Jo's liking for chocolate is a learned desire, making it a "want."

Question 4

Micromarketing,most commonly refers to individual organizations that:
A)direct their efforts towards selling small things (like toasters)
B)directs and allocates resources to benefit customers
C)direct their effort to selling in one local area (like a street block)
D)direct their effort to selling intangible services

Accepted Answer

Micromarketing refers to directing and allocating resources to benefit customers.

Question 5

Which of the following statement best defines needs and wants?
A)Needs occur when a person feels physiologically deprived of something like food, clothing, and shelter whereas wants are felt needs that are shaped by a person's knowledge, culture, or personality.
B)Wants are a subset of needs.
C)Wants occur when a person feels physiologically deprived of something, and needs are determined by a person's knowledge, culture, or personality.
D)Needs affect marketing, but wants do not.

Accepted Answer

Needs are physiological requirements for survival like food, clothing, and shelter whereas wants are shaped by a person's knowledge, culture, or personality. Wants are felt needs that go beyond the basic physiological needs and can be influenced by social and cultural factors.

Question 6

Which of the following is the BEST description of the target market for the latest Disney movie?
A)everyone who can afford to buy a movie ticket
B)everyone who likes movies
C)professionals who are parents of children between the ages of 3 and 12
D)people who collect Mickey Mouse memorabilia

Accepted Answer

The target market for the latest Disney movie would primarily be families with children between the ages of 3 and 12. While everyone who likes movies or can afford a ticket may be potential viewers, targeting this specific demographic would be the most effective in terms of marketing and promoting the movie. Collectors of Mickey Mouse memorabilia may also be interested in the movie, but it is not the primary target market.

Question 7

Which of the following groups would be the most likely target market for a company manufacturing cufflinks?
A)police officers
B)businessmen
C)construction workers
D)postal workers

Accepted Answer

Cufflinks are typically worn as formal attire with dress shirts and suits, making businessmen the most likely target market for a company manufacturing cufflinks. Police officers, construction workers, and postal workers are professions that do not typically require formal attire and would have less use for cufflinks.

Question 8

Dove Beauty Products directs the marketing program for its anti-aging skin serum to older individuals using in-store product placement.Dove considers this group of potential customers to be their:
A)focused market.
B)baby-boomer demographic market.
C)desired market.
D)target market.

Accepted Answer

Dove is targeting a specific group of individuals, i.e., older individuals, with their anti-aging skin serum. This group is their target market - the specific group of customers that Dove wants to reach and persuade to buy their product.

Question 9

Which of the following are marketed?
A)Goods and services only.
B)Goods, services, ideas and experiences.
C)Services and ideas only.
D)Goods, services, and ideas.

Accepted Answer

Marketing encompasses a wide range of offerings including goods, services, ideas, and experiences, all of which can be promoted and sold to consumers.

Question 10

Because the organization obviously cannot satisfy all consumer needs,it must concentrate its efforts on certain needs of a specific group of potential consumers.This is the _________.
A)mass market
B)tangent market
C)market aggregation
D)target market

Accepted Answer

The concept of concentrating on certain needs of a specific group of potential consumers is known as target marketing, making option D the correct choice. Mass market refers to a large group of consumers with similar needs and wants, whereas tangent market and market aggregation are not widely used marketing terms.

Question 11

Kim,the Chief Marketing Officer for Pepsi,considers the controllable factors - product,price,promotion,and place - as the company's:
A)environmental factors.
B)marketing program.
C)marketing mix factors.
D)marketing concept.

Accepted Answer

The controllable factors of product, price, promotion, and place are part of the marketing mix, which is a set of controllable marketing program elements that a company uses to create a desired response in the target market. Therefore, the correct choice is C, marketing mix factors. Environmental factors are external factors that a company cannot control, while the marketing concept is a customer-focused philosophy that guides a company's overall strategy.

Question 12

A local university offers business courses for a specific target market composed of people who are currently working who want to take refresher courses or work toward further degrees.Which of the following would be the most effective way to communicate with the target market,bearing in mind that communication must be both effective and economical?
A)put announcements on campus bulletin boards.
B)distribute promotional materials during classes.
C)advertise on national television.
D)advertise in the local newspaper.

Accepted Answer

Advertising in the local newspaper would be the most effective way to communicate with the specific target market. This is because the target market is composed of people who are currently working in a specific area, and they are likely to be located within the local area. Advertising in the local newspaper will reach this target market directly, and it is a cost-effective way to reach a large number of people. Campus bulletin boards and promotional materials are less effective because they only reach people who are already on campus, and national television advertising would be too expensive and not targeted enough.

Question 13

Which of the following groups should be the LEAST likely target market for a company producing canned foods in single serving sizes?
A)single adults
B)school kitchens
C)campers
D)senior citizens

Accepted Answer

School kitchens typically purchase foods in bulk rather than single serving sizes, so they are the least likely target market for a company producing canned foods in single serving sizes. Single adults, campers, and senior citizens may all be potential target markets for this type of product.

Question 14

Clark works at a Yoga Studio,every Saturday he goes door-to-door marketing the Studio's services.His goal is to find people with both the desire and ability to purchase a monthly yoga pass.These people are referred to as a:
A)customer pool
B)customer base
C)market
D)sales set

Accepted Answer

Clark's goal is to find people who have the desire and ability to purchase a monthly yoga pass. These people make up his target market - a specific group of individuals who have a need or desire for the product or service being offered. Option A, customer pool, refers to a larger group of potential customers that may include those who do not possess both the desire and ability to purchase. Option B, customer base, refers to a company's existing customers. Option D, sales set, is not a commonly used term in marketing and does not accurately describe Clark's target market.

Question 15

Which of the following would be the BEST target market for tickets to the home games of the Ottawa Senators professional hockey team?
A)all people in the greater Ottawa area.
B)all people in Canada.
C)all men in Ontario.
D)people in the Ottawa area with an interest in professional hockey.

Accepted Answer

The Ottawa Senators professional hockey team plays in Ottawa, so targeting people in the Ottawa area would be most effective. However, not everyone in the Ottawa area is interested in professional hockey, so targeting people with an interest in the sport would be more efficient. Thus, the best target market would be people in the Ottawa area with an interest in professional hockey. Options A and B are too broad, while option C limits the target market to only men in Ontario, excluding potential customers who are women or individuals outside of Ontario.

Question 16

Terence,an employee at a financial institution is designing a marketing program for their products and services.One or more specific groups of potential consumers toward which the financial institution directs its marketing program is known as a _______.
A)marketing mix
B)generic market
C)sub-market
D)target market

Accepted Answer

A target market is one or more specific groups of potential consumers that a company directs its marketing program towards. The other options are not accurate descriptions of a target market. The marketing mix is the set of tools used to promote a product or service, the generic market refers to a broad market category, and sub-market is a market segment that is smaller and more specific than the main market.

Question 17

Books and movies like the Twilight saga are designed to appeal to teens and young adults interested in vampire love stories.This is the _____ for these shows.
A)target market
B)tangent market
C)market aggregation
D)mass market

Accepted Answer

The term "target market" refers to a specific group of consumers that a product is intended for. In this case, the books and movies like the Twilight saga are targeting teens and young adults interested in vampire love stories.

Question 18

The market for facial cosmetic surgery (which can cost between $5,000 to $10,000 for basic rhinoplasty to chin and cheek implants)is:
A)children with odd-shaped nostrils.
B)all former boxers.
C)any adult who has the time, the money, and the desire to undergo the procedures.
D)anyone that has ever had any cosmetic dentistry.

Accepted Answer

The market for facial cosmetic surgery is not limited to a specific age group or profession, but rather open to any adult who is willing to undergo the procedures and can afford them. Therefore, option C is the best choice. Options A, B, and D are not accurate as they suggest specific groups, whereas the market for facial cosmetic surgery is much broader.

Question 19

The four Ps are commonly known as:
A)the environmental or uncontrollable factors.
B)the environmental or controllable factors.
C)the marketing mix or controllable factors.
D)the marketing mix or uncontrollable factors.

Accepted Answer

The four Ps are Product, Price, Place, and Promotion, which make up the marketing mix or controllable factors. These are elements that a marketer can control in order to tailor their marketing strategy to appeal to their target consumers.

Question 20

A television advertisement shows several teenagers searching through a store drinks cooler for something to quench their thirst.The refrigerator offers the youngsters many alternatives - soft drinks,fruit drinks,sport drinks,and water.The ad,which shows the teens happily selecting a particular energy drink over all the other product offerings,appeals to the consumers' ________ for liquid and attempts to shape consumers' ________ for the advertised product.
A)wants; needs
B)wants; preferences
C)preferences; needs
D)needs; wants

Accepted Answer

The ad appeals to the consumers' needs for liquid (a basic necessity) and attempts to shape consumers' wants for the advertised product (a specific desire).

Quiz 1: Marketing: Customer Value, satisfaction, relationships, and Experiences

A new employee in the marketing department at BMW asks his manager to provide an executive summary of the controllable marketing mix factors for the BMW 6 Series Convertible that he will be working on.His manager gives him a puzzled look,and says: "At BMW,we refer to those factors as ___________."

At a round-table marketing meeting for a food distributor,Kyle explains the most common meaning of a market to the new employees; his definition would be:

Jo is eight years old and loves chocolate.Her mother will often give her some chocolate along with fresh fruit.To get more chocolate,she must eat her fresh fruit.In marketing terms,the chocolate is an example of a _____ because it is something she has learned to like.

Micromarketing,most commonly refers to individual organizations that:

Which of the following statement best defines needs and wants?

Which of the following is the BEST description of the target market for the latest Disney movie?

Which of the following groups would be the most likely target market for a company manufacturing cufflinks?

Dove Beauty Products directs the marketing program for its anti-aging skin serum to older individuals using in-store product placement.Dove considers this group of potential customers to be their:

Which of the following are marketed?

Because the organization obviously cannot satisfy all consumer needs,it must concentrate its efforts on certain needs of a specific group of potential consumers.This is the _________.

Kim,the Chief Marketing Officer for Pepsi,considers the controllable factors - product,price,promotion,and place - as the company's:

Which of the following groups should be the LEAST likely target market for a company producing canned foods in single serving sizes?

Clark works at a Yoga Studio,every Saturday he goes door-to-door marketing the Studio's services.His goal is to find people with both the desire and ability to purchase a monthly yoga pass.These people are referred to as a:

Which of the following would be the BEST target market for tickets to the home games of the Ottawa Senators professional hockey team?

Terence,an employee at a financial institution is designing a marketing program for their products and services.One or more specific groups of potential consumers toward which the financial institution directs its marketing program is known as a _______.

Books and movies like the Twilight saga are designed to appeal to teens and young adults interested in vampire love stories.This is the _____ for these shows.

The market for facial cosmetic surgery (which can cost between $5,000 to $10,000 for basic rhinoplasty to chin and cheek implants) is:

The four Ps are commonly known as: