Graded Homework

QUESTION 1 1. Which of the following is most essential to any definition of marketing?
demand
management
the production
concept
customer
relationships
making a profit
5 points 

QUESTION 2 1. When backed by buying power, wants
become:
social needs
demands
physical
needs
exchanges
5 points 

QUESTION 3 1. The art and science of choosing target
markets and building profitable relationships
with them is called:
selling
segmentation
positioning
marketing
management 5 points 

QUESTION 4 1. Which of the following best explains why
consumers have greater power and control in
today’s marketplace?
The production concept and competition have lowered prices.
Through new communication technologies, customers have more
access to information and more methods of sharing their opinions
with other customers.
Implementation of the product concept has resulted in continually
improving products.
Customer-driven marketing creates goods and services that meet
customers’ future needs.
5 points 

QUESTION 5 1. The act of obtaining a desired object from
someone by offering something in return
speaks most closely to:
needs, wants and
demands
market offerings
value and satisfaction
exchange
relationships
5 points 

QUESTION 6 1. The set of benefits a company promises to
deliver to its consumers to satisfy their
needs is called:
a money-back
guarantee
low pricing
a value proposition
good customer
service
5 points 

QUESTION 7 1. Each department in a company that carries
out value-creating activities can be thought
of as a link in the company’s:
market
development
product
development
business portfolio
value chain
5 points 

QUESTION 8 1. The place a product occupies in the
consumer’s mind relative to competitors’
products is termed:
product
placement
product position
market
segmentation
market targeting
5 points 

QUESTION 9 1. In the four P’s of the marketing mix, design,
packaging, services, and variety all fall under
the category of: product
price
promotio
n
place
5 points 

QUESTION 10 1. Instead of thinking of selling products,
marketers would be wise to take the
customer’s view and think of:
providing convenience
initiating two-way
communication
offering discounts
offering solutions to
problems
5 points 

QUESTION 11 1. Regarding customer relationship groups, a
long-term customer who has a very low
contribution to overall profits is called a:
butterfly true
friend
barnacle
stranger
5 points 

QUESTION 12 1. A product with a low market growth rate and
relatively high market share is known in the
Growth-Share Matrix as a:
dog
cash cow
star
question
mark
5 points 

QUESTION 13 1. If you want to sell new products to new
markets, you are using a strategy called:
market
penetration
product
development
market initiation
diversification
5 points 

QUESTION 14 1. Your marketing department is currently
researching the size, density, location, age,
and occupations of your target market.
Which environment is being researched?
psychographic
economic
demographic
geographic
cultural and
social
5 points 

QUESTION 15 1. Which of the following descriptions most
accurately characterizes the baby boomers?
They are aging and slowing down.
They are a shrinking market for new housing and home
remodeling.
They are past their peak earning and spending years.
They hold 70% of the country’s financial assets.
They were largely unaffected by the recent recession.
5 points 

QUESTION 16 1. What is the first step in the marketing
research process?
developing a marketing information system
defining the problem and research objectives
developing the research plan for collecting
information
implementing the research plan interpreting data and deciding on type of
research
5 points 

QUESTION 17 1. Secondary data consists of information:
that already exists somewhere but is outdated
that does not currently exist in an organized form
that already exists somewhere but was collected for
another purpose
that is used by competitors
that the researcher can only obtain through surveys and
observation
5 points 

QUESTION 18 1. Companies who use brand ambassadors are
using a specific technique called:
opinion
leading
buzz
marketing
direct
marketing
values
marketing
5 points 

QUESTION 19 1. Researchers found that a number of wellknown brands tended to be strongly
associated with one particular trait, such as
JetBlue with "being human". Which of the
following terms would a marketer use to
describe a specific mix of traits that may be
attributed to a particular brand?
brand
personality product image
product
perception
brand equity
5 points 

QUESTION 20 1. You are bringing out a new product and want
to be sure to reach those customers who will
influence the choices of others. Which group
will you target to carry your message?
laggards and late mainstream
customers
early mainstream and early
adopters
innovators and early mainstream
early adopters and innovators