Chapter 1 : Quiz 1 In Tutorial Library

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TITLE: Chapter 1 : Quiz 1

UNIVERSITY / INSTITUTE: Purdue University

CLASS / COURSE: MGMT 324 Marketing Management

QUESTION DESCRIPTION:

This tutorial has Quiz 1 of course MGMT 324 Marketing Managment of Purdue University. 

 
1. You are already a marketing expert because 
 
  Student Response Value Correct Answer Feedback
 A. as a consumer, you have already been involved in marketing decisions. 100%    
B. marketing is really only common sense.  
C. as a college student, you study marketing.  
D. there is really nothing to learn about marketing.  
E. marketing is innate knowledge that all are born with.  
 
2. To serve both buyers and sellers, marketing seeks to __________ and satisfy the needs and wants of prospective customers. 
 
  Student Response Value Correct Answer Feedback
A. change  
B. take advantage of  
 C. discover    
D. manipulate  
E. create  
 
3. The American Red Cross created a series of advertisements encouraging viewers to donate blood. After viewing the advertisement, Amanda went to the local Red Cross office and donated a pint of blood. Afterwards, Amanda returned home feeling satisfied that she had performed a good deed. Was this a marketing exchange? 
 
  Student Response Value Correct Answer Feedback
A. No, because the Red Cross is non-profit organization.  
B. Yes, because the Red Cross ran an advertisement.  
 C. Yes, because the donated blood was exchanged for a feeling of satisfaction. 100%    
D. No, because no money was exchanged.  
E. No, because the Red Cross did not provide Amanda with a product.  
 
4. One or more specific groups of potential consumers toward which an organization directs its marketing program is a 
 
  Student Response Value Correct Answer Feedback
A. mass market.  
B. tangent market.  
C. market aggregation.  
 D. target market. 100%    
E. promotional market.  
 
5. The ability to buy a soda from a vending machine demonstrates which element of the marketing mix? 
 
  Student Response Value Correct Answer Feedback
A. product  
B. price  
C. promotion  
 D. place    
E. process  
 
6. "We are in the business of satisfying needs and wants of consumers" is a statement that exemplifies what has come to be known as the 
 
  Student Response Value Correct Answer Feedback
A. hard-sell strategy.  
B. soft-sell strategy.  
C. sales concept.  
 D. marketing concept.    
E. marketing mix.  
 
7. In the movie, The Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners. Their job was difficult, in part, because the supply of aluminum siding surpassed the demand for the product and competition was intense. This situation is indicative of the __________ era of U.S. business history. 
 
  Student Response Value Correct Answer Feedback
A. production.  
 B. sales    
C. marketing concept  
D. market orientation  
E. societal marketing  
 
8. Imagine that you change the oil in your car yourself and dump the used oil down the sewer drain, which flows into the local river. Based on this information, is this a transaction between you and the oil manufacturer? 
 
  Student Response Value Correct Answer Feedback
A. Yes, you paid for the oil and can do as you like with it.  
 B. Yes, the oil company adds a premium to the price to pay for oil cleanup in the environment. 0%  
C. Yes, the oil will stay in the sewer and not hurt anything.  
D. No, this is an issue of social responsibility.    
E. No, this is an issue between you and your neighbors.  
 
 
9. Units such as manufacturers, retailers, or government agencies that buy for their own use or for resale are called 
 
  Student Response Value Correct Answer Feedback
A. intermediate buyers.  
B. selling agents.  
 C. organizational buyers. 100%    
D. professional buyers' organizations.  
E. manufacturing agents.  
 
 
10. The value to consumers that comes from the production or alteration of a good or service constitutes __________ utility. 
 
  Student Response Value Correct Answer Feedback
A. time  
B. place  
C. possession  
D. market  
 E. form    
 
11. Dick's Sporting Goods carries baseballs all year around. The same is true for footballs and tennis equipment. Dick's Sporting Goods offers __________ utility for these products. 
 
  Student Response Value Correct Answer Feedback
 A. time    
B. place  
C. possession  
D. market  
E. form  
 
 
12. Vending machines in dormitories most directly create __________ utilities. 
 
  Student Response Value Correct Answer Feedback
 A. time and place    
B. form and place  
C. possession and time  
D. time and form  
E. form and possession  
 
 
13. Which of the following would a marketer use as a synonym for controllable marketing mix factors? 
 
  Student Response Value Correct Answer Feedback
A. the five internal environmental forces  
B. the five external marketing program forces  
C. the five Cs  
 D. the four Ps    
E. price, product, production, and promotion  
 
 
14. What kinds of organizations engage in marketing? 
 
  Student Response Value Correct Answer Feedback
A. only those that can afford national advertising  
B. only very large and established nonprofit organizations  
C. exclusively Fortune 1000 companies  
 D. every organization markets    
E. virtually no organizations use marketing  
 
 
15. Which of the following statements is an example of possession utility? 
 
  Student Response Value Correct Answer Feedback
A. A new motor oil container comes equipped with a disposable pouring spout.  
B. The local dairy prices its ice cream at about 10 percent below national brands.  
C. Disposable diapers come equipped with resealable tabs.  
D. A gourmet food store carries a line of ready-made salads.  
 E. A waterbed company offers six-month financing, same as cash. 100%    
 
  

 

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