Question 1

Which of the following statements about marketing departments is most accurate?
A) The marketing department typically works as an independent unit, mostly interacting with other parts of the business only to direct product promotion.
B) The marketing department should set the firm's objectives, based on its knowledge of the market and environmental forces.
C) The marketing department is only responsible for two of the four Ps.
D) The marketing department is only responsible for market research, supervision of product development, and product promotion.
E) The marketing department must work closely with other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.

Accepted Answer

The most accurate statement about marketing departments is that they must work closely with other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper. While marketing departments do have responsibilities such as market research, product development, and promotion, they are not the only responsibilities and they must work together with other departments to achieve the overall objectives of the firm.

Question 2

All of the following are departments within a typical organization except which?
A) finance
B) manufacturing
C) information systems
D) human resources
E) suppliers

Accepted Answer

Suppliers are not typically considered a department within an organization, but rather external entities that the organization interacts with.

Question 3

A local college of business offers an outstanding graduate business school education program.Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high-paying,fulfilling position.Was this a marketing exchange?
A) No, because the university earned a profit from Marissa's tuition.
B) No, because money was exchanged in the form of tuition and Marissa's income will come from her employer, not the graduate school.
C) No, because the school did not provide Marissa with a tangible product, only the potential of an education.
D) Yes, because the university promised Marissa she would graduate on time, and she did.
E) Yes, because paying tuition was exchanged for knowledge that directly led to Marissa's high-paying, fulfilling new job.

Accepted Answer

This is a marketing exchange because Marissa paid tuition for knowledge which directly led to her high-paying and fulfilling job. The exchange of tuition for knowledge and ultimately for a job opportunity is the essence of a marketing exchange.

Question 4

One challenge faced by organizations is that each must ______ the interests of countless other people,groups,and forces that interact to shape the nature of its actions.
A) resist
B) strike a balance among
C) develop
D) be responsible for
E) minimize

Accepted Answer

Organizations must strike a balance among the interests of different stakeholders like shareholders, employees, customers, suppliers, regulators, and society at large. Focusing excessively on the interests of any one group can negatively affect others and result in long-term consequences for the organization. Striking a balance among these interests is key to achieving long-term success and sustainability.

Question 5

Which of the following conditions are necessary for marketing to occur?
A) a changing environment, a method of assessing needs, a way to communicate, and an exchange location
B) parties with cash or credit, a product, a reasonable price, and a place to make an exchange
C) a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product
D) two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange
E) an ability to see a trend within an environmental force, a product, and an affordable and actionable advertising campaign

Accepted Answer

Marketing involves an exchange process between two or more parties who have unsatisfied needs and a desire and ability to satisfy them. In addition, there needs to be a way to communicate and something to exchange, such as a product or service. Option D is the only answer that correctly identifies all four necessary conditions for marketing to occur.

Question 6

________________ is/are responsible for establishing the organization's mission and objectives.
A) Marketers
B) Suppliers
C) Customers
D) Senior management
E) Shareholders

Accepted Answer

Senior management is responsible for establishing the organization's mission and objectives. They are the ones who set the direction for the organization and determine its goals and objectives. Marketers, suppliers, and customers may all have a role in achieving those objectives, but they are not responsible for establishing them. Shareholders may have input into the direction of the organization, but they do not establish the mission and objectives.

Question 7

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you doubt you'll see real results and decide not to vote for her.Marketing will not occur in this situation because
A) marketing doesn't apply to the voting process.
B) the desire and ability to satisfy needs is missing.
C) there is no direct way for the parties to communicate.
D) something to exchange is missing.
E) there is only one party involved in this situation.

Accepted Answer

The answer of A local candidate running for office would...

Question 8

All of the following are environmental forces that affect an organization except which?
A) economic
B) geographical
C) social
D) regulatory
E) technological

Accepted Answer

The four environmental forces that affect an organization include economic, social, regulatory, and technological factors. While geography may influence an organization's target market or supply chain logistics, it is not considered an environmental force.

Question 9

The __________ department of an organization is responsible for facilitating relationships,partnerships,and alliances with the organization's customers,shareholders,suppliers,and other organizations.
A) purchasing
B) marketing
C) human resources
D) accounting
E) information systems

Accepted Answer

The marketing department is responsible for creating, communicating, and delivering value to customers and maintaining relationships with stakeholders such as shareholders, suppliers, and other organizations. Purchasing is focused on acquiring goods and services, human resources focuses on managing employees, accounting handles financial transactions, and information systems deals with technology and data management.

Question 10

All of the following are factors required for marketing to occur except which?
A) a desire and ability on the part of two or more parties (individuals or organizations) to be satisfied
B) something to exchange between two or more parties (individuals or organizations)
C) two or more parties (individuals or organizations) with the same wants
D) two or more parties (individuals or organizations) with unsatisfied needs
E) a way for the parties (individuals or organizations) to communicate

Accepted Answer

Two or more parties (individuals or organizations) with the same wants is not a necessary factor for marketing to occur. In fact, marketing often involves identifying and targeting the specific wants and needs of a particular set of consumers.

Question 11

The marketing department of an organization is responsible for facilitating
A) relationships, partnerships, and alliances with the organization's customers, shareholders, suppliers, and other organizations.
B) healthy competition with other product manufacturers.
C) financial contracts with banks and other lending institutions.
D) alliances with firms with noncompetitive products that target similar markets.
E) the coordination between the various departments within the entire firm.

Accepted Answer

The marketing department is responsible for building relationships and partnerships with the organization's customers, shareholders, suppliers, and other organizations in order to facilitate business growth and success. Options B, C, D, and E are not typical responsibilities of the marketing department.

Question 12

A typical marketing department both shapes and ____________ its relationship with internal and external groups.
A) is shaped by
B) organizes
C) motivates
D) determines
E) dominates

Accepted Answer

Figure 1-2 shows the key people,groups,and forces inside and outside the organization that influence its marketing activities.The marketing department is engaged in facilitating relationships,partnerships,and alliances with the organization's customers,shareholders/owners (or often representatives of groups served by a nonprofit organization),suppliers,and other organizations.The marketing department interacts with these internal and external groups in a dynamic relationship (note the two-way arrows).

Question 13

The American Red Cross creates advertisements to encourage people to donate blood.After viewing one,Amanda decided to donate a pint of blood.After she did,Amanda felt happy that she had performed a good deed.Did an exchange occur in a marketing sense?
A) Yes, because the blood was donated to the Red Cross based on an advertisement, a marketing activity.
B) Yes, because the donated blood was exchanged for a feeling of satisfaction.
C) No, because the Red Cross is nonprofit organization.
D) No, because no money changed hands.
E) No, because the Red Cross, a service organization, did not provide Amanda with a product.

Accepted Answer

An exchange did occur in a marketing sense because the advertisement by the Red Cross encouraged Amanda to donate blood which was exchanged for a feeling of satisfaction. Although the Red Cross is a nonprofit organization and no money changed hands, an exchange can still occur without the exchange of money.

Question 14

A student would like to buy a cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because
A) two or more parties have unsatisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) one of the involved parties does not have the ability to satisfy its needs.
D) there is no way for each party to communicate with one another.
E) there has been no assessment of consumer wants and needs.

Accepted Answer

The answer of A student would like to buy a...

Question 15

A business student is preparing for the Graduate Management Admission Test (GMAT)so he can get into a good graduate business school.He knows that any money he spends on a tutor will be worthwhile if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.Marketing does not occur in this situation because
A) two or more parties have unsatisfied needs.
B) there is no desire on the part of either party to satisfy its needs.
C) neither of the involved parties have the ability to satisfy its needs.
D) there is no way for the parties to communicate with one another.
E) there has been no assessment of consumer wants and needs.

Accepted Answer

The lack of knowledge about the tutor's identity means that there is no way for the student to communicate with the potential tutor, making marketing impossible.

Question 16

For marketing to occur,there must be two or more parties involved.Dr.Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be
A) people who are nostalgic about childhood lemonade stands they had during hot summers.
B) people with a desire for a cool beverage other than soda or water.
C) product demonstrators who offer samples of Country Time lemonade to shoppers at local supermarkets.
D) a local distributor of alcoholic beverages.
E) a nutritionist promoting the health benefits of adequate hydration.

Accepted Answer

The "second" party needed for marketing to occur would be people who have a desire for a cool beverage other than soda or water. These are the individuals who are the target market for Country Time lemonade and are likely to purchase it from the supermarket. The other options given may be a part of marketing efforts, but they are not the essential party needed for marketing to occur.

Question 17

Which of the following statements about marketing activities is most accurate?
A) Marketing is affected by society but rarely, if ever, affects society as a whole.
B) The marketing department both shapes and is shaped by its relationship with internal and external groups.
C) Marketing activities are the sole responsibility of the marketing department; other departments are involved only if there is an emergency (such as a product recall).
D) Environmental forces do not affect marketing activities as long as a firm closely monitors its environment through rigorous market research.
E) Marketing is essentially developing the right product and convincing potential customers that they "need" it, not just "want" it.

Accepted Answer

The statement that the marketing department both shapes and is shaped by its relationship with internal and external groups is the most accurate. Marketing cannot operate in a vacuum and must consider the societal, economic, technological, and legal forces that affect it. Marketing involves many different departments and external partners, and it must work closely with them to achieve its objectives. Marketing's activities also have an impact on society, as it has the power to shape trends and influence consumer behavior.

Question 18

Which of the following is not an environmental force?
A) economic
B) regulatory
C) social
D) commercial
E) technological

Accepted Answer

Economic, regulatory, social, and technological factors all have direct or indirect impacts on the environment. Commercial factors, on the other hand, are more focused on business operations and profitability, and may not necessarily have a direct impact on the environment.

Question 19

Which of the following is a factor required for marketing to occur?
A) a healthy competitive environment
B) an affordable and actionable advertising campaign
C) a sense of social responsibility
D) an ability to see hidden potential within an environmental force
E) a way for interested parties to communicate

Accepted Answer

For marketing to occur, interested parties must be able to communicate with each other, whether it be through advertising, sales calls, email, or social media. Without communication, there can be no exchange of goods, services, or ideas. The other factors listed (healthy competitive environment, affordable and actionable advertising campaign, a sense of social responsibility, and an ability to see hidden potential within an environmental force) may be important in facilitating marketing, but they are not absolutely necessary for it to occur.

Question 20

A college student is taking a full course load,working 20 hours per week,and still has to take out a student loan to cover tuition.One day,he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000)and feels he just has to have one for himself.What factor is most likely to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?
A) The local Lexus dealer only has one Lexus LFA sports coupe in stock-red, which is the color he wants.
B) The student does not have the resources to qualify for a $375,000 auto loan.
C) Although the Lexus LFA sports coupe is a great car, there may be other cars with better gas mileage and resale value.
D) He's afraid that if someone at school sees him with the car, he might lose his student loan.
E) His girlfriend wants him to drive a Kia Soul.

Accepted Answer

The most likely factor preventing a successful marketing exchange is that the student does not have the resources to qualify for a $375,000 auto loan. Despite wanting the car, the student's financial situation does not allow for such a purchase.

Quiz 1: Creating Customer Relationships and Value Through Marketing

Which of the following statements about marketing departments is most accurate?

All of the following are departments within a typical organization except which?

A local college of business offers an outstanding graduate business school education program.Marissa pays the tuition to attend and earns her MBA with a concentration in marketing management.Upon graduating,she is offered a high-paying,fulfilling position.Was this a marketing exchange?

One challenge faced by organizations is that each must ______ the interests of countless other people,groups,and forces that interact to shape the nature of its actions.

Which of the following conditions are necessary for marketing to occur?

________________ is/are responsible for establishing the organization's mission and objectives.

A local candidate running for office would very much like to have your vote.She promises that she will "make the country better." Because all candidates for public office say this,you doubt you'll see real results and decide not to vote for her.Marketing will not occur in this situation because

All of the following are environmental forces that affect an organization except which?

The __________ department of an organization is responsible for facilitating relationships,partnerships,and alliances with the organization's customers,shareholders,suppliers,and other organizations.

All of the following are factors required for marketing to occur except which?

The marketing department of an organization is responsible for facilitating

A typical marketing department both shapes and ____________ its relationship with internal and external groups.

The American Red Cross creates advertisements to encourage people to donate blood.After viewing one,Amanda decided to donate a pint of blood.After she did,Amanda felt happy that she had performed a good deed.Did an exchange occur in a marketing sense?

A student would like to buy a cross-over SUV from a local dealer,but she thinks the payments will be too high.Marketing does not occur in this situation because

For marketing to occur,there must be two or more parties involved.Dr.Pepper Snapple Group distributes Country Time lemonade in cans through supermarkets at a price comparable to that of soft drinks.The most likely "second" party needed for marketing to occur would be

Which of the following statements about marketing activities is most accurate?

Which of the following is not an environmental force?

Which of the following is a factor required for marketing to occur?