MKTG 3701 ALL QUIZZES With Complete 100% Correct Answers.

Marketing is defined as a) the process of creating, communicating, and delivering value to customers and managing those relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole b) any activity used to advertise and promote a product or service c) the process of managing the supply chain to ensure that products are delivered where and when customers want them d) the process of targeting and selecting a group of consumers or organizational buyers in order to promote a product or service e) the set of activities needed to produce and deliver a product that produces high return on investment - correct answer a) the process of creating, communicating, and delivering value to customers and managing those relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole On a personal level, as you begin looking for a job after you graduate, it will be critical for you to know how to a) deliver value b) forecast value c) communicate value d) explain value e) market value - correct answer c) communicate value American clothing company manufactures clothes to be sold in retail stores. After the clothing is manufactured, it is shipped to wholesalers who, in turn, use transportation companies to ship the product to various retail outlets. The manufacturer, wholesaler, transportation company and retailer all work together to create and deliver the product. This is an example of A. creating value. B. communicating value. C. delivering value. D. forecasting value. E. marketing value. - correct answer c. delivering value Which approach to marketing was especially important during the Great Depression when consumers did not have much money and firms competed intensely for customer sales? a) marketing concept b) relationship marketing c) production orientation d) sales orientation e) customer orientation - correct answer d) sales orientation Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance, as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to its website where customers can post pictures of themselves using the store's gear. These efforts illustrate how the firm is engaged in a) societal marketing b) logistics c) sales orientation d) personal selling e) relationship marketing - correct answer e) relationship marketing A local family is advertising a 5K run to raise awareness for autism since one of their children suffers from the disorder. Salina likes to run, so she decides to pay the fee to participate in the event. Afterward, she is pleased that she went and felt good about helping out the family. Would this be considered a marketing exchange? a) no, because the event involved a service but not a good b)yes, because participating in the run was exchanged for Salina's feeling of satisfaction for helping the family c) no, because the consumer needs of Salina were not met d) no, because Salina did not receive anything for participating the event e) yes, because the family had to pay for advertising and therefore was engaged in marketing - correct answer b)yes, because participating in the run was exchanged for Salina's feeling of satisfaction for helping the family Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent a) a need b) a want c) a desire d) a craving - correct answer a) a need What type of human need is shaped by personality, culture, or buying situation? a) a want b) a demand c) an emergency d) a necessity - correct answer a) a want An advertisement shows a group of boys playing soccer on a hot day. When they take a break, the boys run to a cooler to find something to quench their thirst. Inside the cooler are water bottles, cans of soda, fruit juices, and Gatorade. Immediately, the boys fight over the Gatorade showing that it is clearly the best choice. In this ad, liquid refreshment represents a ____, and Gatorade represents a _____. a) need; want b) craving; need c) want; preference d) want; need - correct answer a) need; want