Question 1

A __________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

Accepted Answer

A need is defined as a basic requirement for survival, such as food, shelter, and clothing. A desire is something that a person wants but does not necessarily need. Utility refers to the usefulness or value that a good or service provides. A craving is a strong desire for something, usually food. Therefore, the best choice is B, need.

Question 2

Which of the following statements best distinguishes between consumer needs and wants?

Accepted Answer

Needs are considered as basic necessities that a person feels deprived of such as food, clothing, and shelter. Wants are shaped by a person's knowledge, culture, or personality. Therefore, option E best distinguishes between consumer needs and wants.

Question 3

A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Accepted Answer

The answer of A __________ is a need that is...

Question 4

Showstoppers refer to

Accepted Answer

Showstoppers are obstacles or issues that can prevent a product from being successful in the marketplace. They can be anything from a major defect in the product to a lack of demand among consumers. Option A is incorrect because showstoppers do not necessarily refer to specific individuals within a marketing team. Option B is incorrect because unexpected alternative uses for a product may actually increase its popularity rather than doom it. Option D is incorrect because a sudden loss of financial backing may affect a product's production, but it is not necessarily a showstopper. Option E is incorrect because a competitor's product beating a firm's new product to the marketplace does not necessarily doom the product.

Question 5

A target market refers to

Accepted Answer

A target market is a specific group of potential consumers toward which an organization directs its marketing program. This includes identifying their needs and preferences and tailoring the marketing mix (product, price, promotion, and place) to appeal to that particular group. It may include both existing and potential customers who have a common need or desire for the product or service being offered.

Question 6

In a marketing context, a market refers to

Accepted Answer

A market in a marketing context refers to a group of people or organizations with the desire and ability to purchase a particular product or service. It is not just a physical location, but rather a group of potential customers who share a similar need or want for a specific offering. Therefore, option B is the best choice as it outlines the essential characteristics of a market.

Question 7

Which of the following products mentioned in Chapter 1 failed in the marketplace as a result of product misuse?

Accepted Answer

The answer of Which of the following products mentioned in...

Question 8

A want refers to

Accepted Answer

The answer of A want refers to
...

Question 9

The most likely market for cosmetic dentistry, where costs can be as much as $15,000 for teeth straightening and whitening, is

Accepted Answer

The market for cosmetic dentistry is typically made up of individuals who have the discretionary income to afford the procedures and have a desire to improve their appearance. While some insurance plans may cover certain aspects of cosmetic dentistry, it is not typically covered, so having insurance is not a determining factor in this market. Additionally, while there may be some cases where straightening baby teeth early on may be necessary or desired, this is not typically the target market for cosmetic dentistry. Former smokers may be interested in teeth whitening, but this is not the only market for cosmetic dentistry. Finally, while making a good first impression for a job interview may be a motivator for some individuals, it is not the only reason people seek out cosmetic dentistry.

Question 10

A need refers to

Accepted Answer

The answer of A need refers to
...

Question 11

All markets ultimately are composed of __________.

Accepted Answer

Markets are made up of people who have wants and needs that can be fulfilled by products or services. Branded products, organizations, and governments may all play a role in the market, but ultimately it is the people who are the consumers and drive demand.

Question 12

People with both the desire and ability to buy a specific offering are referred to as [a(n)] __________.

Accepted Answer

The term "market" refers specifically to the group of people who have both the desire and ability to purchase a particular product or service. Choice A, "shoppers," refers to anyone who is browsing or looking around a store, whether or not they intend to make a purchase. Choice B, "customer base," refers to all of the people who have purchased from a particular business in the past, regardless of whether they are interested in buying a specific offering at the moment. Choices D and E, "bazaar" and "emporium," refer to specific types of markets or marketplaces, but not to the group of people who are interested in purchasing a product.

Question 13

All of the following are examples of products or services that satisfy a consumer need EXCEPT:

Accepted Answer

Sales tax is not a product or service that satisfies a consumer need, but rather a government policy or regulation.

Question 14

A factor that might doom a product in the marketplace is referred to as a(n) __________.

Accepted Answer

The answer of A factor that might doom a product...

Question 15

A target market refers to

Accepted Answer

A target market refers to a specific group or groups of potential consumers towards which an organization directs its marketing program. This involves identifying the characteristics and needs of the group in order to tailor marketing efforts towards them. Option A is incorrect because although the people could purchase a product, they may not necessarily be the target market. Option C only refers to former customers using competitors' products, but does not address a target market. Option D refers to the benefits of the product, but not the group towards which marketing efforts are directed. Option E refers to people who could buy the offering, but not necessarily the specific group targeted by marketing efforts.

Question 16

-In Figure 1-2 above, "B" is accomplished by __________.

Accepted Answer

The answer of 
-In Figure 1-2 above, "B" is accomplished...

Question 17

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

Accepted Answer

In following Robert M. McMath's suggestions, studying past product failures and learning from them would be the best advice for Colgate when launching a new toothpaste. This helps to avoid making the same mistakes as previous products and increase the chances of success in the market. The other options either focus on distant future inventions or unrelated marketing campaigns, or unusual packaging that may not be practical or appealing to consumers.

Question 18

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Accepted Answer

The specific group of potential consumers toward which an organization directs its marketing program is called the target market. This group is identified based on factors such as demographics, psychographics, behavior and geography. The goal of targeting a specific market is to tailor the marketing mix to meet the specific needs and preferences of that group, which increases the effectiveness of the marketing program.

Question 19

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. A potential showstopper for this product is likely to be

Accepted Answer

The concern that damage caused in a small on-road fender bender might make it dangerous to fly could be a potential showstopper as it could raise safety concerns among potential customers.

Question 20

-In Figure 1-2 above, "A" represents __________ and "B" represents __________.

Accepted Answer

The options suggest a process flow, and "discovering consumer needs" followed by "satisfying consumer needs" is a logical sequence in a business context.

Quiz 1: Creating Customer Relationships and Value Through Marketing

A __________ occurs when a person feels deprived of basic necessities such as food, clothing, and shelter.

Which of the following statements best distinguishes between consumer needs and wants?

A __________ is a need that is shaped by a person's knowledge, culture, and personality.

Showstoppers refer to

A target market refers to

In a marketing context, a market refers to

Which of the following products mentioned in Chapter 1 failed in the marketplace as a result of product misuse?

A want refers to

The most likely market for cosmetic dentistry, where costs can be as much as $15,000 for teeth straightening and whitening, is

A need refers to

All markets ultimately are composed of __________.

People with both the desire and ability to buy a specific offering are referred to as [a(n) ] __________.

All of the following are examples of products or services that satisfy a consumer need EXCEPT:

A factor that might doom a product in the marketplace is referred to as a(n) __________.

A target market refers to

-In Figure 1-2 above, "B" is accomplished by __________.

If you followed the suggestions of Robert M. McMath, which of the following provides the best advice for a marketer, such as Colgate, when launching a new consumer product, such as toothpaste?

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

The Terrafugia Transition is a 19-foot, two-seater road-drivable, light-sport aircraft with an anticipated price of $279,000. A potential showstopper for this product is likely to be

-In Figure 1-2 above, "A" represents and "B" represents .