Question 1

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him A)that Scotch tape had outgrown its usefulness to students. B)to make new products that have higher quality. C)that the average backpack was already too heavy. D)that it would be reasonable to put Post-it^®Flags together with a highlighter. E)to determine the ratio of 3M products to study aid products of other competitors.

Accepted Answer

The students suggested combining Post-it Flags with a highlighter, which resulted in the creation of the Post-it Flag+ Highlighter product. This shows that the students' feedback was valuable and led to the development of a successful product. The other options are not relevant or feasible based on the information given.

Question 2

3M's pricing strategy for its Post-it^® Flag Highlighters was as follows: A)match its principal competitors' highlighters' prices. B)charge a price that would give a reasonable bookstore price to students and an acceptable profit to distributors and 3M. C)set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated. D)make the product easier to purchase by placing the Post-it^® Flag Highlighter in discount office supply retailers. E)use the same pricing strategy as its 3M's Post-it^®Flag and Post-it^®Note offerings.

Accepted Answer

3M's pricing strategy for Post-it Flag Highlighters was to charge a price that would allow students to buy it at a reasonable price and distributors and 3M would get a fair profit. This implies that they did not want to match their competitors' prices or keep the price too low to reduce the price even further. They also did not mention placing the product in discount retailers, unlike some other products by 3M. Therefore, option B is the best choice.

Question 3

3M's Post-it^® Flag Highlighter and Pen marketing programs were designed for what primary objective? A)the initial introduction of two new 3M products B)specific promotions to be used for long-range strategies C)segmenting the market into twelve specific target market segments D)marketing 3M products to foreign markets E)positioning the products relative to major competitors

Accepted Answer

The marketing programs were designed for the initial introduction of two new 3M products (the Post-it Flag Highlighter and Pen).

Question 4

If you wanted a new pair of shoes during the Civil War,you traced the outline of your foot on a piece of paper and gave it to a shoemaker.There was no distinction between the right and left foot because you wanted your shoes as quickly as possible,and the shoemaker knew that you would buy them even if they just "sort of" fit.This is an example of a transaction that would have occurred during the __________ era in U.S.business history.
A)marketing concept
B)sales
C)production
D)societal marketing concept
E)market orientation

Accepted Answer

This transaction occurred during the production era in U.S. business history where the focus was on producing goods as efficiently and inexpensively as possible without much regard for customization or customer satisfaction.

Question 5

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of
A)demographic clusters.
B)organizational buyers.
C)ultimate consumers.
D)market segments.
E)qualified prospects.

Accepted Answer

Relatively homogeneous collections of prospective buyers refer to market segments. A market segment is a specific group of consumers with similar needs or characteristics that a company can target with a tailored marketing strategy.

Question 6

3M's place strategy in its marketing program made it convenient for __________ to buy Post-it^® Flag Highlighters and Post-it^® Flag Pens. A)external salespeople only B)college students only C)office workers only D)college students and office workers E)teachers only

Accepted Answer

3M's place strategy in its marketing program targeted college students and office workers as they are the ones who frequently use Post-it^® Flag Highlighters and Post-it^® Flag Pens. The products were made conveniently available in office supply stores, college bookstores, and online, making it easy for these target customers to purchase the products.

Question 7

The relatively homogenous groups of prospective buyers that (1)have common needs and (2)will respond similarly to a marketing action is referred to as a(n)__________.
A)market segment
B)target market
C)customer base
D)ultimate consumer
E)preferred customer

Accepted Answer

A market segment is a group of prospective buyers that have common needs and will respond similarly to a marketing action. Target market refers to a specific group of customers that a business has decided to aim its marketing efforts towards, which may include multiple market segments. Customer base refers to all customers who have purchased from a particular company, not just a subset with common needs. Ultimate consumer refers to the end user of a product or service, while preferred customer refers to a customer who receives special treatment or benefits from a company due to their loyalty or high level of spending.

Question 8

Based on the marketing program 3M developed for its Post-it^® Flag Highlighters and Post-it^® Flag Pens,one can conclude that A)the market segments for Post-it^® Flag Highlighters and Post-it^® Flag Pens are identical. B)the target market segments for Post-it^® Flag Highlighters and Post-it^® Flag Pens are not realistic. C)the Post-it^® Flag Highlighters and Post-it^® Flag Pens are priced unfairly for its target markets. D)the prices for 3M's Post-it^® Flag Highlighters and Post-it^® Flag Pens are set to maximize 3M's profits,not its distributors' profits. E)the promotion strategy is designed to increase awareness among potential users.

Accepted Answer

The marketing program for Post-it Flag Highlighters and Flag Pens is designed to increase awareness among potential users, as stated in the question. Therefore, option E is the correct answer. Option A is not correct because there might be some overlap, but the market segments for highlighters and pens may not be entirely identical. Option B is not correct because there is no information to suggest that the target market segments are not realistic. Option C is not correct because there is no information about unfair pricing. Option D is not correct because there is no information about maximizing profits.

Question 9

Market segments refer to
A)the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)the relatively homogenous groups of prospective buyers that (1)have common needs and (2)will respond similarly to a marketing action.
E)all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Accepted Answer

Market segments are groups of prospective buyers who have common needs and will respond similarly to marketing actions. Therefore, the best choice is option D. Option A refers to the result of the segmentation process, not the definition of market segments. Option B refers to repeat customers, not market segments. Option C describes a situation where the needs are similar, but the behavior is not, which is not a definition of market segments. Option E refers to potential buyers who have not yet purchased a firm's products, not a definition of market segments.

Question 10

With respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.
A)production
B)sales
C)marketing concept
D)customer relationship
E)market orientation

Accepted Answer

The production era, which emphasized efficient mass production, dominated American business from the early years of the country until the 1920s.

Question 11

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible
A)marketing strategy.
B)macromarketing agenda.
C)micromarketing agenda.
D)marketing program.
E)marketing concept.

Accepted Answer

After translating consumer ideas into product concepts, the next step is to convert these concepts into a tangible marketing program which outlines the specific strategies and tactics that will be used to successfully bring the product to market.

Question 12

The purpose of the introduction of 3M Post-it^® Flag Highlighters was to A)stay ahead of trends and focus its marketing program on only one segment. B)stay ahead of trends and focus its marketing program on two mutually inclusive segments. C)increase production economies of scale by reducing manufacturing and marketing costs for Post-it^® Flags and Post-it^® Notes. D)preempt a competitive move by Sanford's Sharpie to introduce a similar product. E)help college students with their studying.

Accepted Answer

The answer of The purpose of the introduction of 3M...

Question 13

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.
A)marketing strategy
B)marketing program
C)macromarketing tactic
D)micromarketing tactic
E)customer relationship management

Accepted Answer

Key term definition-marketing program.

Question 14

With respect to the history of American business,the __________ era covered the years from the 1920s to the 1960s.
A)production
B)sales
C)marketing concept
D)customer relationship
E)market orientation

Accepted Answer

The answer of With respect to the history of American...

Question 15

All of the following statements about the overall marketing program for 3M's Post-it^® Flag Highlighters are true EXCEPT: A)David Windorski,a 3M inventor,designed the second generation of Post-it^® Flag Highlighters and Pens without the rotating cover to make it easier to insert replacement flags. B)Office workers were initially the intended target market for the Post-it^® Flag Highlighter. C)In his first attempt,David Windorski,a 3M inventor,designed the Post-it^® Flag Highlighter in exactly the right way to appeal to its target market. D)David Windorski,the designer of the Post-it^® Flag Highlighter,appeared on The Oprah Winfrey show so she could thank him in person for "his most incredible invention." E)Recently,3M introduced additions to the Post-it^® Flag+ Highlighter line: a Post-it^® Flag+ Gel Pen and a Post-it^® Flag+ Permanent Marker.

Accepted Answer

The statement that David Windorski designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market is not true. In fact, he made a mistake in his first attempt by placing the adhesive on the wrong side, which led to the creation of the Post-it note.

Question 16

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.
A)market segment
B)demographic cluster
C)organizational buyer group
D)ultimate consumer group
E)qualified prospect group

Accepted Answer

A market segment refers to a group of people who share similar characteristics and behaviors related to their consumption of goods or services. These may include factors such as age, gender, income level, geographic location, or interests. By dividing the overall market into smaller segments, marketers can tailor their messaging and offerings to better meet the needs and preferences of each group.

Question 17

The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new markets and customers is referred to as the __________ era.
A)sales
B)marketing concept
C)production
D)goods
E)market orientation

Accepted Answer

The sales era is characterized by an emphasis on selling and advertising to overcome market saturation and excess production capacity.

Question 18

Which of the following statements about 3M's marketing program for Post-it^® Flag Highlighters is MOST ACCURATE? A)In his first attempt,David Windorski,a 3M inventor,designed the Post-it^® Flag Highlighter in exactly the right way to appeal to its target market. B)Paralegals were initially the intended target market for the Post-it^® Flag Highlighter. C)David Windorski,a 3M inventor,also developed the Post-it^® Flag Pen for the office worker segment. D)The Post-it^® Flag Highlighter was not successful and was deleted from the Post-it^® Flag product line. E)In his development of the Post-it^® Flag Highlighter,David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "WOW" factor.

Accepted Answer

David Windorski, a 3M inventor, developed the Post-it® Flag Pen for the office worker segment, indicating his involvement in creating products for specific target markets.

Question 19

In the 19^th century,the belief was that production creates its own demand.By the early 20^th century,American companies began to produce more goods than buyers could consume.At the same time,competition became more significant.The usual solution was to hire more salespeople to find new buyers.This describes the __________ era. A)goods B)production C)sales D)marketing concept E)market orientation

Accepted Answer

The scenario describes the sales era, where the focus was on selling and finding new buyers due to overproduction and increased competition.

Question 20

A marketing program refers to
A)a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.
B)the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line.
C)the marketing manager's controllable factors-product,price,promotion,and place-that can be used to solve a marketing problem.
D)the specific ratio within a marketing budget that divides resources between advertising,promotions,and personal selling.
E)the allocation of resources within a firm towards individual marketing mix elements.

Accepted Answer

A marketing program is a plan that integrates the marketing mix (product, price, promotion, and place) to provide a good, service, or idea to prospective buyers. It outlines the actions that a company will take to achieve its marketing objectives and attract its target market.

Quiz 1: Creating Customer Relationships and Value Through Marketing

An inventor for 3M,David Windorski questioned dozens of students about how they study.They told him

3M's pricing strategy for its Post-it^® Flag Highlighters was as follows:

3M's Post-it^® Flag Highlighter and Pen marketing programs were designed for what primary objective?

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

3M's place strategy in its marketing program made it convenient for __________ to buy Post-it^® Flag Highlighters and Post-it^® Flag Pens.

The relatively homogenous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a marketing action is referred to as a(n) __________.

Based on the marketing program 3M developed for its Post-it^® Flag Highlighters and Post-it^® Flag Pens,one can conclude that

Market segments refer to

With respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.

After an assessment of needs,a marketing manager must translate ideas from consumers into concepts for products that a firm may develop.The concepts must then be converted into a tangible

The purpose of the introduction of 3M Post-it^® Flag Highlighters was to

A __________ is a plan that integrates the marketing mix to provide a good,service,or idea to prospective buyers.

With respect to the history of American business,the __________ era covered the years from the 1920s to the 1960s.

All of the following statements about the overall marketing program for 3M's Post-it^® Flag Highlighters are true EXCEPT:

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new markets and customers is referred to as the __________ era.

Which of the following statements about 3M's marketing program for Post-it^® Flag Highlighters is MOST ACCURATE?

A marketing program refers to