D077 - Concepts in Marketing, Sales, and Customer Contact:
KQ01 Study Guide and Solutions.
What is the main function of marketing?
Bringing value to customers
Improving partner relationships
Decreasing expenditures
Increasing productivity correct answers Bringing value to customers
Which set of connections is created by marketers to generate value?
Between companies and suppliers
Between companies and media
Between customers and suppliers
Between customers and products correct answers Between customers and products
What is the relationship between sales and marketing in a firm's business strategy?
Sales includes the exchange of money of a company's product or service, while marketing is
the process of communicating the value of a product or service.
Sales includes the process of communicating the value of a product or service, while
marketing involves calculating how much profit has been earned for a company within a
fiscal year.
Sales includes calculating how much profit has been earned for a company within a fiscal
year, while marketing is the process of communicating the value of a product or service.
Sales includes the process of communicating the value of a product or service, while
marketing focuses on the actual exchange of money for a product or service. correct answers
Sales includes the exchange of money of a company's product or service, while marketing is
the process of communicating the value of a product or service.
What is an example of a marketing activity?
A sales associate liquidating inventory
An engineer conducting quality control review
An executive reporting on stock performance
A manager conducting research on potential customers correct answers A manager
conducting research on potential customers
Which element of the marketing mix is associated with social media advertising?
Place
Product
,Promotion
Price correct answers Promotion
In the marketing mix, what is the meaning of the term "product"?
Marketing materials of the company
Goods or services that meet customers' needs
Materials used in manufacturing
Shorthand for production line correct answers Goods or services that meet customers' needs
Which term is used when the price of a new product is lower than the competition with the
goal of gaining market share?
Price skimming
Competitive
Price penetration
Prestige correct answers Price penetration
In the marketing mix, what is meant by the term promotion?
Getting the product from the producer to the customer
Communications between the company and the customer
Cost of a product, or what a company asks in exchange for a product
Goods, services, or ideas that a company offers to the market correct answers
Communications between the company and the customer
What is meant by the term "place" in the marketing mix?
Where product ads are posted
Where products are purchased
Where products are manufactured
Where products are shipped from correct answers Where products are purchased
Which three components are part of the marketing mix?
Professionalism
Promotion
Power
People
Place
Product correct answers Promotion, Place, Product
,A small tobacco shop that just opened wants to run advertising on a local radio station. When
they approach the radio station's sales department, they find that the station will not run their
ad.
What type of uncontrollable element prevents the running of this advertisement?
Environmental
Legal
Cultural
Social correct answers Legal
A manufacturer of children's toys discovers that a number of products that it makes and sells
have been duplicated and are selling alongside their products on various e-commerce sites.
The duplicate products appear to be made overseas and are selling for 30% lower. The
company's sales department feels pressure to lower pricing to match that of the duplicate
products in an effort not to lose sales.
Which element in the marketing environment is demonstrated in this situation?
Governmental regulations
Competitive elements
Technological advances
Social factors correct answers Competitive Elements
A restaurant owner has noticed a shift in the restaurant's customer attitudes towards locally-
sourced and sustainable ingredients and is changing the menu in an effort to cater to these
customers.
What element of the marketing environment does this represent?
Socio-cultural factors
Regulation
Consumer confidence
Economic factors correct answers Socio-cultural factors
A large general contractor is having trouble meeting its labor needs, given the low
unemployment in the area. The company begins advertising for construction workers in an
adjacent state, offering a generous sign-on bonus in an effort to fill open positions.
What element of the marketing environment is the company addressing?
Competitors
Regulations
Social
Economic correct answers Economic
A small startup company plans to sell affordable footwear, manufactured from sustainable
materials. Company leadership assembles an ethics panel to ensure their products meet their
goals of sustainability and eco-friendliness, while finding a niche market in the marketplace.
The members of the ethics panel take into consideration the labor conditions under which the
materials are grown, harvested, and shipped to market.
Which ethics consideration is this company addressing?
Product
, Price
Promotion
Place correct answers Product
A small startup company plans to sell affordable footwear, manufactured from sustainable
materials. Company leadership assembles an ethics panel to ensure their products meet their
goals of sustainability and eco-friendliness, while finding a niche market in the marketplace.
The members of the ethics panel determines if their products are affordable and can be
realistically marketed to certain market segments.
Which ethics consideration is this company addressing?
Product
Pricing
Promotion
Place correct answers Pricing
A small startup company plans to sell affordable footwear, manufactured from sustainable
materials. Company leadership has assembled an ethics panel to ensure that the products meet
this goal, while finding a niche market in the marketplace. The panel is also considering the
marketing claims for the products to determine if the benefits and intrinsic value promised are
realistic.
Which ethics consideration is this company addressing?
Place
Product
Promotion
Pricing correct answers Promotion
A small startup company plans to sell affordable footwear manufactured from sustainable
materials and has assembled an ethics panel to ensure the products meet this goal. The panel
takes into consideration the labor conditions of the distribution channel and if the product can
be purchased at the price promised. The ethics panel also wants to know whether the workers
in the company can actually afford to purchase the item themselves.
Which ethics consideration is being reviewed by this company?
Promotion
Pricing
Place
Product correct answers Place
A community center director decides to add free breakfast, lunch, and dinner services
because 20% of the city's population suffers from food insecurity. The director plans to
partner with a local food warehouse to prepare meals made fresh from meats, vegetables,
fruits, and breads that the warehouse is unable to sell by 5 PM the previous day. The center
will be the first in its city to partner with a for-profit organization to create a program for
those in need of three nutritious meals a day. The director plans to design and implement a
marketing campaign to create awareness of the center's meal program and encourage all local
organizations to provide transportation for those in need of meals.
This campaign will be implemented through newspaper advertising, social media, downtown
association newsletter and signage, and cobranding with the food warehouse. All
KQ01 Study Guide and Solutions.
What is the main function of marketing?
Bringing value to customers
Improving partner relationships
Decreasing expenditures
Increasing productivity correct answers Bringing value to customers
Which set of connections is created by marketers to generate value?
Between companies and suppliers
Between companies and media
Between customers and suppliers
Between customers and products correct answers Between customers and products
What is the relationship between sales and marketing in a firm's business strategy?
Sales includes the exchange of money of a company's product or service, while marketing is
the process of communicating the value of a product or service.
Sales includes the process of communicating the value of a product or service, while
marketing involves calculating how much profit has been earned for a company within a
fiscal year.
Sales includes calculating how much profit has been earned for a company within a fiscal
year, while marketing is the process of communicating the value of a product or service.
Sales includes the process of communicating the value of a product or service, while
marketing focuses on the actual exchange of money for a product or service. correct answers
Sales includes the exchange of money of a company's product or service, while marketing is
the process of communicating the value of a product or service.
What is an example of a marketing activity?
A sales associate liquidating inventory
An engineer conducting quality control review
An executive reporting on stock performance
A manager conducting research on potential customers correct answers A manager
conducting research on potential customers
Which element of the marketing mix is associated with social media advertising?
Place
Product
,Promotion
Price correct answers Promotion
In the marketing mix, what is the meaning of the term "product"?
Marketing materials of the company
Goods or services that meet customers' needs
Materials used in manufacturing
Shorthand for production line correct answers Goods or services that meet customers' needs
Which term is used when the price of a new product is lower than the competition with the
goal of gaining market share?
Price skimming
Competitive
Price penetration
Prestige correct answers Price penetration
In the marketing mix, what is meant by the term promotion?
Getting the product from the producer to the customer
Communications between the company and the customer
Cost of a product, or what a company asks in exchange for a product
Goods, services, or ideas that a company offers to the market correct answers
Communications between the company and the customer
What is meant by the term "place" in the marketing mix?
Where product ads are posted
Where products are purchased
Where products are manufactured
Where products are shipped from correct answers Where products are purchased
Which three components are part of the marketing mix?
Professionalism
Promotion
Power
People
Place
Product correct answers Promotion, Place, Product
,A small tobacco shop that just opened wants to run advertising on a local radio station. When
they approach the radio station's sales department, they find that the station will not run their
ad.
What type of uncontrollable element prevents the running of this advertisement?
Environmental
Legal
Cultural
Social correct answers Legal
A manufacturer of children's toys discovers that a number of products that it makes and sells
have been duplicated and are selling alongside their products on various e-commerce sites.
The duplicate products appear to be made overseas and are selling for 30% lower. The
company's sales department feels pressure to lower pricing to match that of the duplicate
products in an effort not to lose sales.
Which element in the marketing environment is demonstrated in this situation?
Governmental regulations
Competitive elements
Technological advances
Social factors correct answers Competitive Elements
A restaurant owner has noticed a shift in the restaurant's customer attitudes towards locally-
sourced and sustainable ingredients and is changing the menu in an effort to cater to these
customers.
What element of the marketing environment does this represent?
Socio-cultural factors
Regulation
Consumer confidence
Economic factors correct answers Socio-cultural factors
A large general contractor is having trouble meeting its labor needs, given the low
unemployment in the area. The company begins advertising for construction workers in an
adjacent state, offering a generous sign-on bonus in an effort to fill open positions.
What element of the marketing environment is the company addressing?
Competitors
Regulations
Social
Economic correct answers Economic
A small startup company plans to sell affordable footwear, manufactured from sustainable
materials. Company leadership assembles an ethics panel to ensure their products meet their
goals of sustainability and eco-friendliness, while finding a niche market in the marketplace.
The members of the ethics panel take into consideration the labor conditions under which the
materials are grown, harvested, and shipped to market.
Which ethics consideration is this company addressing?
Product
, Price
Promotion
Place correct answers Product
A small startup company plans to sell affordable footwear, manufactured from sustainable
materials. Company leadership assembles an ethics panel to ensure their products meet their
goals of sustainability and eco-friendliness, while finding a niche market in the marketplace.
The members of the ethics panel determines if their products are affordable and can be
realistically marketed to certain market segments.
Which ethics consideration is this company addressing?
Product
Pricing
Promotion
Place correct answers Pricing
A small startup company plans to sell affordable footwear, manufactured from sustainable
materials. Company leadership has assembled an ethics panel to ensure that the products meet
this goal, while finding a niche market in the marketplace. The panel is also considering the
marketing claims for the products to determine if the benefits and intrinsic value promised are
realistic.
Which ethics consideration is this company addressing?
Place
Product
Promotion
Pricing correct answers Promotion
A small startup company plans to sell affordable footwear manufactured from sustainable
materials and has assembled an ethics panel to ensure the products meet this goal. The panel
takes into consideration the labor conditions of the distribution channel and if the product can
be purchased at the price promised. The ethics panel also wants to know whether the workers
in the company can actually afford to purchase the item themselves.
Which ethics consideration is being reviewed by this company?
Promotion
Pricing
Place
Product correct answers Place
A community center director decides to add free breakfast, lunch, and dinner services
because 20% of the city's population suffers from food insecurity. The director plans to
partner with a local food warehouse to prepare meals made fresh from meats, vegetables,
fruits, and breads that the warehouse is unable to sell by 5 PM the previous day. The center
will be the first in its city to partner with a for-profit organization to create a program for
those in need of three nutritious meals a day. The director plans to design and implement a
marketing campaign to create awareness of the center's meal program and encourage all local
organizations to provide transportation for those in need of meals.
This campaign will be implemented through newspaper advertising, social media, downtown
association newsletter and signage, and cobranding with the food warehouse. All
