Question 1

Which skill set is required to be a good marketer?

Accepted Answer

A)   Experience in professional sales
B)   A high degree of creativity
C)   Understanding algebra and calculus
D)   Basic math skillsE) None of the above
F) C) and D)

Question 2

Finding a group of customers who want what you have to offer and providing it better than others do so that you maximize perceived value for that group defines:

Accepted Answer

A)   target market differentiation.
B)   your value proposition.
C)   total market value maximization.
D)   sales maximization.E) B) and D)
F) A) and B)

Question 3

Properly designed and executed, marketing can do which of the following?

Accepted Answer

A)   Influence people to do things they don't want to do.
B)   Make it more appealing to buy certain things over others.
C)   Create a need for something.
D)   Make people buy things they really can't afford.E) A) and B)
F) B) and C)

Question 4

Managing a marketing effort involves all of these functions EXCEPT:

Accepted Answer

A)   control.
B)   planning.
C)   implementation.
D)   advertising.E) A) and B)
F) A) and C)

Question 5

The basic goal of marketing managers in managing exchanges involves all of these elements EXCEPT:

Accepted Answer

A)   promotional planning.
B)   value.
C)   price.
D)   cost.E) A) and B)
F) A) and C)

Question 6

Which statement is valid in managing exchanges between a company and its customers?

Accepted Answer

A)   The company wants to maximize customer benefits.
B)   Customers want to pay the least amount possible.
C)   Customers are the primary drivers of the purchase decisions.
D)   The two parties have conflicting goals.E) A) and D)
F) B) and D)

Question 7

Demand is a combination of which two things?

Accepted Answer

A)   desire for something and its availability
B)   desire for something and the ability to purchase it
C)   availability of something and the ability to pay for it
D)   desire for something and a well-executed marketing planE) A) and B)
F) B) and C)

Question 8

Which of the following best defines a need?

Accepted Answer

A)   A strong desire for something
B)   The perceived benefit from an exchange
C)   A lack of means of subsistence
D)   Something deemed important missing that is available at a reasonable priceE) None of the above
F) B) and C)

Question 9

Testing an idea to see if it is effective requires:

Accepted Answer

A)   a specific goal against which to measure the outcome.
B)   a method of separating out the effect of luck on the test.
C)   a series of tests with constantly changing measures.
D)   employing an outside, non-biased research firm.E) B) and D)
F) B) and C)

Question 10

Which of the following factors is important in managing perceived value?

Accepted Answer

A)   Different customers have different perceptions.
B)   Perception sometimes doesn't reflect reality.
C)   Value is a nebulous concept to most people.
D)   Competitive pricing is a major determinant of value.E) All of the above
F) A) and C)

Exam 1: What Is Marketing

Which of the following best defines a need?

Correct Answer
verified

Testing an idea to see if it is effective requires:

Correct Answer
verified

Demand is a combination of which two things?

Correct Answer
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Which statement is valid in managing exchanges between a company and its customers?

Correct Answer
verified

Managing a marketing effort involves all of these functions EXCEPT:

Correct Answer
verified

Which of the following factors is important in managing perceived value?

Correct Answer
verified

Finding a group of customers who want what you have to offer and providing it better than others do so that you maximize perceived value for that group defines:

Correct Answer
verified

The basic goal of marketing managers in managing exchanges involves all of these elements EXCEPT:

Correct Answer
verified

Which skill set is required to be a good marketer?

Correct Answer
verified

Properly designed and executed, marketing can do which of the following?

Correct Answer
verified

Exam 1: What Is Marketing

Which of the following best defines a need?

Correct AnswerverifiedShow Answer

Testing an idea to see if it is effective requires:

Correct AnswerverifiedShow Answer

Demand is a combination of which two things?

Correct AnswerverifiedShow Answer

Which statement is valid in managing exchanges between a company and its customers?

Correct AnswerverifiedShow Answer

Managing a marketing effort involves all of these functions EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following factors is important in managing perceived value?

Correct AnswerverifiedShow Answer

Finding a group of customers who want what you have to offer and providing it better than others do so that you maximize perceived value for that group defines:

Correct AnswerverifiedShow Answer

The basic goal of marketing managers in managing exchanges involves all of these elements EXCEPT:

Correct AnswerverifiedShow Answer

Which skill set is required to be a good marketer?

Correct AnswerverifiedShow Answer

Properly designed and executed, marketing can do which of the following?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified