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1. The concept of exchange is important to marketing because: - Answer: c. Marketing
activities help to create exchange
2. All of the following are marketing management philosophies EXCEPT: - Answer: d.
Profitability orientation
Toyota found that consumers wanted cars to last longer and be more environmentally
friendly. GM, however, enjoyed being the top U.S. car producer and focused more on
how many cars and trucks it could manufacture, not on what customers wanted from a
vehicle. GM had more of a _____ orientation. - Answer: b. Production
4. _____ is defined as the relationship between benefits and the sacrifice necessary to
obtain those benefits. - Answer: e. Customer value
. As a customer entered the Hornady store, which sells muzzleloading rifles, a
salesperson approached her and said, "Hornady lead round balls are the musket balls
you ought to buy. They are the most uniform in size and shape, and they are made of
pure lead. Our shot is used by the Muzzle Loading World Champion." The salesperson
was describing Hornady's: - Answer: competitive advantage
2. A statement of the firm's business based on a careful analysis of benefits sought by
present and potential customers and an analysis of existing and anticipated
environmental conditions is known as a(n): - Answer: c. Mission statement
3. A _____ is a study conducted by an organization to identify its internal strengths and
weaknesses and also examine external opportunities and threats. - Answer: a.
Situation analysis
1
APPHIA - Crafted with Care and Precision for Academic Excellence.
, 4. Walmart realizes a _____ using its relationships with suppliers to give customers low
prices and good customer service. - Answer: c. Cost competitive advantage
5. Zipcar is a car rental service found in many metropolitan areas. It targets people who
take mass transit or carpool to work but who occasionally need a car to run errands,
visit the doctor, or check on a sick child. Zipcar is one of a few companies currently
providing cars that can be rented by the hour. Zipcar has created a(n) _____ advantage.
- Answer: c. Service differentiation competitive
Market penetration occurs when: - Answer: d. Yoplait sends yogurt coupons to its
existing customers
1. Why is creation of a product the starting point for the marketing mix? - Answer: c.
Determination of the price, promotional campaign, and distribution network cannot begin
until the product has been specified.
2. _____ products are searched for extensively, and substitutes are not acceptable.
These products may be quite expensive, and often distribution is limited. - Answer: d.
Specialty
3.The value of company and brand names is referred to as: - Answer: a. Brand equity
4. According to recent market research, Google is one of the most valuable brands in
the world. According to this research, the company and its well-known name are worth
about $86 billion. This research indicates that Google has a high: - Answer: e. Brand
equity
5. Rexona, marketed by Unilever (a Dutch company), is the world's number one
deodorant brand. The brand is a leader in Europe, South America, Asia, Africa, and the
Middle East. Rexona is an example of a: - Answer: b. Global brand
2
APPHIA - Crafted with Care and Precision for Academic Excellence.
GUARANTEED ACCURACY!
1. The concept of exchange is important to marketing because: - Answer: c. Marketing
activities help to create exchange
2. All of the following are marketing management philosophies EXCEPT: - Answer: d.
Profitability orientation
Toyota found that consumers wanted cars to last longer and be more environmentally
friendly. GM, however, enjoyed being the top U.S. car producer and focused more on
how many cars and trucks it could manufacture, not on what customers wanted from a
vehicle. GM had more of a _____ orientation. - Answer: b. Production
4. _____ is defined as the relationship between benefits and the sacrifice necessary to
obtain those benefits. - Answer: e. Customer value
. As a customer entered the Hornady store, which sells muzzleloading rifles, a
salesperson approached her and said, "Hornady lead round balls are the musket balls
you ought to buy. They are the most uniform in size and shape, and they are made of
pure lead. Our shot is used by the Muzzle Loading World Champion." The salesperson
was describing Hornady's: - Answer: competitive advantage
2. A statement of the firm's business based on a careful analysis of benefits sought by
present and potential customers and an analysis of existing and anticipated
environmental conditions is known as a(n): - Answer: c. Mission statement
3. A _____ is a study conducted by an organization to identify its internal strengths and
weaknesses and also examine external opportunities and threats. - Answer: a.
Situation analysis
1
APPHIA - Crafted with Care and Precision for Academic Excellence.
, 4. Walmart realizes a _____ using its relationships with suppliers to give customers low
prices and good customer service. - Answer: c. Cost competitive advantage
5. Zipcar is a car rental service found in many metropolitan areas. It targets people who
take mass transit or carpool to work but who occasionally need a car to run errands,
visit the doctor, or check on a sick child. Zipcar is one of a few companies currently
providing cars that can be rented by the hour. Zipcar has created a(n) _____ advantage.
- Answer: c. Service differentiation competitive
Market penetration occurs when: - Answer: d. Yoplait sends yogurt coupons to its
existing customers
1. Why is creation of a product the starting point for the marketing mix? - Answer: c.
Determination of the price, promotional campaign, and distribution network cannot begin
until the product has been specified.
2. _____ products are searched for extensively, and substitutes are not acceptable.
These products may be quite expensive, and often distribution is limited. - Answer: d.
Specialty
3.The value of company and brand names is referred to as: - Answer: a. Brand equity
4. According to recent market research, Google is one of the most valuable brands in
the world. According to this research, the company and its well-known name are worth
about $86 billion. This research indicates that Google has a high: - Answer: e. Brand
equity
5. Rexona, marketed by Unilever (a Dutch company), is the world's number one
deodorant brand. The brand is a leader in Europe, South America, Asia, Africa, and the
Middle East. Rexona is an example of a: - Answer: b. Global brand
2
APPHIA - Crafted with Care and Precision for Academic Excellence.
