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Marketing
Q:
3M inventor, David Windorski took this approach when he developed the Post-itFlag Highlighter:
a. He first asked students to identify their needs and wants.
b. He asked students to bring him their five favorite office product items they used for studying.
c. He patented his idea and sold it to 3M.
d. He started with his idea and then investigated if there was a market for it.
e. He petitioned 3M executives for the right to conduct independent research that ultimately resulted in the 15% rule.
Q:
David Windorski, an inventor at 3M, questioned dozens of students about how they study. They told him
a. to make sure new 3M products were available at mass merchandisers such as Walmart.
b. that the average backpack was already too heavy to contain new 3M products.
c. it would be reasonable to combine Post-itFlags with a highlighter.
d. to develop similar study aid products offered by other office product competitors.
e. it would be NOT be reasonable to combine Post-itNotes with a ball point pen.
Q:
Robert could not buy his Principles of Marketing textbook this semester by the first day of class if the bookstore did not accept one of the four major credit cards. With his VISA credit card, he was able to obtain the book for his first marketing class. The credit card created ___________ utility for Robert.
a. form
b. time
c. price
d. possession
e. place
Q:
Which of the following is an example of possession utility?
a. an iPhone with a large selection of new "apps"
b. the local dairy that offers to deliver bottles of milk to a customer's doorstep
c. disposable diapers that come equipped with resealable tabs
d. a gourmet food store that carries a line of ready-made salads
e. a mobile phone company that offers six-month financing, same as cash
Q:
Which of the following is an example of time utility?
a. an iPhone with a "multitouch" user interface for easy navigation
b. a dry cleaners that is located inside a supermarket
c. Goodwill that has a 24-hour drop off box for clothing donations
d. a cell phone company that offers six-month financing, same as cash
e. a new herbal supplement that offers a 30-day free trial
Q:
Which of the following statements is an example of place utility?
a. airlines that allow you to print your own boarding pass at home
b. a service station that sells both unleaded gasoline and diesel fuel
c. a mobile phone company that offers six-month financing, same as cash
d. cold cut packages that can be zipped close for reuse
e. an iPhone with a "multitouch" user interface for easy navigation
Q:
Which of the following is an example of form utility?
a. an iPhone with a "multitouch" user interface for easy navigation
b. stamp vending machines that are located in drug stores
c. a service station that has a 24-hour ice machine available for use when the station is closed
d. a mobile phone company that offers six-month financing, same as cash
e. a gourmet candy store that offers a home delivery service
Q:
The four utilities marketing creates are
a. product, price, promotion, and place.
b. form, function, value, and people.
c. monopoly, monopolistic competition, pure competition, and oligopoly.
d. form, place, time, and possession.
e. natural gas, fossil fuel, electricity, and water.
Q:
Utility refers to
a. the number of alternative uses or benefits that can be provided by a single product or service.
b. the adaptability of a marketing program to adjust to changes in the marketing environment.
c. the benefits or customer value received by users of the product.
d. the fixed costs associated with the production of a single unit of a product within a product line.
e. the variable costs associated with the production of a single unit of a product within a product line.
Q:
Effective marketing benefits society because it
a. reduces competition, making the playing field more even.
b. improves the quality of products and services regardless of the cost.
c. allows companies to charge whatever price they want, regardless of product quality.
d. makes countries more competitive in world markets while simultaneously reducing competition in their home markets.
e. enhances competition, which improves the quality of products and services and lowers their prices.
Q:
Which of the following is the best example of an organizational buyer?
a. a mother buying milk for her young son
b. a computer programmer buying the latest game for his PlayStation 3
c. a store owner buying hand-painted slate signs to sell in her store
d. a botanist buying a rose bush for his home garden
e. a parent buying a softball glove for a daughter
Q:
Organizational buyers are described as
a. only purchasers of raw materials and natural resources.
b. employees who purchase household items for their personal use.
c. manufacturers, retailers, or government agencies that buy products for their own use or for resale.
d. any individual or group making a purchase worth over $100,000.
e. any man, woman, or child who uses products purchased for a household.
Q:
Units such as manufacturers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as
a. intermediate buyers.
b. selling agents.
c. organizational buyers.
d. manufacturing agents.
e. brokers.
Q:
Which of the following is an example of an ultimate consumer?
a. a newspaper reporter who buys a plane ticket to Washington, D.C. to cover the presidential inauguration
b. a school teacher who bought a ticket to the Summer Olympics opening ceremonies
c. an office receptionist who renews the magazines that are found in the office waiting room
d. a retailer who buys poster board to make signs for an upcoming store sale
e. a landscaping firm employee who buys a new wheelbarrow to use to haul mulch
Q:
Ultimate consumers refer to
a. the people who use the products and services purchased for a household.
b. people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
c. people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
d. those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
e. one or more specific groups of potential customers toward whom an organization directs its marketing program.
Q:
Which answer reflects (in order) a good, a service, and an idea that can be marketed?
a. a candy bar, a wastepaper basket, and a vending machine
b. a CD, a concert, and a souvenir T-shirt
c. a political candidate, democracy, and freedom
d. an iPod, an iPhone, and an iPad
e. a toothbrush, laser teeth whitening, and dental hygiene
Q:
A product
a. consists of the benefits or customer value received by its sellers.
b. is the cluster of benefits that an organization promises customers to satisfy their needs.
c. is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.
d. consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
e. is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
Q:
Intangible concepts and thoughts about products, actions, or causes are called
a. utilities.
b. products.
c. values.
d. ideas.
e. services.
Q:
A live theatre performance tends to be an experience that is consumed at the point where it is purchased. This is an example of a(n) __________.
a. utility
b. product
c. value
d. service
e. idea
Q:
Organizations such as American Airlines, U.S. Bank, and Red Cross provide customers with goods that are typically called a(n) __________.
a. utility
b. product
c. service
d. value
e. idea
Q:
Which of the following statements best describes a service?
a. Services are physical objects.
b. Services are intangible items.
c. Services are intangible concepts and thoughts about ideas or causes.
d. Services are the benefits organizations receive in exchange for selling products.
e. Services comprise the subset of tangible features of products.
Q:
Which of the following statements best describes a good?
a. Goods are physical objects.
b. Goods are intangible items.
c. Goods are intangible concepts and thoughts about ideas or causes.
d. Goods are the benefits organizations receive for selling products and services.
e. Goods are intangible concepts and thoughts about products or services.
Q:
Which of the following organizations engage in marketing?
a. Chicago Cubs
b. San Francisco Opera
c. the city of Denver
d. the president of the United States
e. Every organization or individual can engage in marketing to some extent.
Q:
What kinds of organizations engage in marketing?
a. only those that can afford to advertise
b. only very large and established for profit organizations
c. only Fortune 500 companies
d. every organization regardless of the kind
e. only the organization that wants to make a profit
Q:
Which of the following statements best distinguishes macromarketing from micromarketing?
a. Macromarketing uses a marketing program while micromarketing does not.
b. Macromarketing is affected by environmental forces but micromarketing is not.
c. Micromarketing is affected by environmental forces but macromarketing is not.
d. Macromarketing looks at the flow of an entire nation's goods and services and micromarketing concerns itself with the marketing activities of an organization.
e. Micromarketing looks at the flow of an entire nation's goods and services and macromarketing concerns the marketing activities of an organization.
Q:
How an individual organization directs its marketing activities and allocates its resources to benefit its customers is known as __________.
a. microeconomics marketing
b. cultural marketing
c. micromarketing
d. macromarketing
e. megamarketing
Q:
Which of the following is NOT a macromarketing-related issue?
a. determining whether advertising is wasteful
b. identifying natural resource scarcities in the marketing system
c. assessing whether marketing costs too much
d. determining how an individual organization directs its marketing activities and allocates its resources to benefit its customers
e. studying the aggregate flow of a nation's products and services to benefit society
Q:
The study of the aggregate flow of a nation's goods and services to benefit society is referred to as __________.
a. micromarketing
b. macromarketing
c. societal marketing
d. megamarketing
e. balance of trade
Q:
Innovators at 3M developed Scotch-Brite Never Rust Wool Soap Pads from recycled plastic bottles. Even though these soap pads are more expensive than competitive brands (Brillo and SOS), customers are willing to pay the premium price. Customers appreciate the value of a superior product (they don"t rust or scratch) and appreciate the fact that their purchase is environmentally responsible. This demonstrates that
a. an organization can be environmentally conscious while still satisfying its customers and remaining competitive in the market.
b. an organization can use a customer's sense of social responsibility to its own advantage even though the effects are minimal.
c. if a company uses recycled materials, it can always charge more than what a product is actually worth.
d. it is more important to act in a socially responsible manner than to consider the profits and goals of the organization.
e. the first brand that creates a new product gets to charge the highest price and make the greatest profits.
Q:
The societal marketing concept
a. is the moral principles and values that govern the actions and decisions of an organization.
b. is the idea that organizations are part of a larger society and are accountable to that society for their actions.
c. actively tries to understand customer needs and satisfying them while satisfying the firm's goals.
d. involves conducting business in a way that protects the natural environment while making economic progress.
e. is the view that an organization should satisfy the needs of consumers in a way that provides for society's well-being.
Q:
As organizations have changed their orientation, society's expectations of marketers have also changed. Today, the emphasis of marketing practice has shifted from the interests of __________ to the interests of consumers.
a. society at large
b. government
c. suppliers
d. resellers
e. producers
Q:
Social responsibility is
a. the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
b. the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
c. the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
d. the idea that individuals and organizations are accountable to a larger society.
e. the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
Q:
All of the following are aspects of Trader Joe's customer experience EXCEPT:
a. it has stores in all 48 states in the continental United States
b. it offers unusual food products not available from other retailers
c. it stocks yuppie-friendly staples on its shelves
d. it sets low prices by offering its own brands, not national ones
e. it provides rare employee "engagement" to help customers
Q:
In 2010, Fortune magazine named Trader Joe's "America's hottest retailer" for its outstanding __________.
a. customer value proposition
b. relationship marketing
c. customer experience
d. internal marketing
e. customer relationship management
Q:
Customer experience refers to
a. the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time.
b. the links an organization has to its customers for their mutual long-term benefits.
c. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
d. the internal response that customers have to all aspects of an organization and its offerings.
e. the activities in which a firm will participate in order to create a positive buying experience for the customer.
Q:
Figure 1.
In Figure 1. above, letter "D" represents which era in U.S. business history?
a. sales era
b. production era
c. age of consumerism
d. marketing concept era
e. customer relationship era
Q:
Figure 1.
In Figure 1. above, letter "C" represents which era in U.S. business history?
a. sales era
b. production era
c. age of consumerism
d. marketing concept era
e. customer relationship era
Q:
Figure 1.
In Figure 1. above, letter "B" represents which era in U.S. business history?
a. sales era
b. production era
c. age of consumerism
d. marketing concept era
e. customer relationship era
Q:
Figure 1.
In Figure 1. above, "A" represents which era in U.S. business history?
a. sales era
b. production era
c. age of consumerism
d. marketing concept era
e. customer relationship era
Q:
Customer relationship management (CRM) is most closely related to the __________ era in U.S. business history.
a. customer relationship
b. production
c. sales
d. marketing concept
e. societal marketing
Q:
Customer relationship management refers to
a. the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
b. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
c. the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
d. the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
e. the cluster of benefits that an organization promises customers to satisfy their needs.
Q:
With respect to the history of American business, the __________ era started in the 1980s in which firms seek continuously to satisfy the high expectations of customers.
a. production
b. sales
c. marketing concept
d. customer relationship
e. societal marketing
Q:
An organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a
a. societal marketing concept.
b. focus on macromarketing.
c. nonprofit orientation.
d. market orientation.
e. profit maximization orientation.
Q:
An organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value is said to have a
a. product orientation.
b. customer orientation.
c. market orientation.
d. industry orientation.
e. societal orientation.
Q:
An organization with a market orientation
a. focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value.
b. identifies prospective buyers, understands them intimately, and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace.
c. strives to satisfy the needs of consumers while also trying to achieve its goals.
d. satisfies the needs of consumers in a way that provides for society's well-being.
e. focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value.
Q:
A market orientation refers to
a. the orientation of an organization that focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value.
b. the orientation of an organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value.
c. the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change.
d. the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term for fear of losing focus.
e. the point of view that holds that there is always someone who needs or can benefit from your product, and if one segment fails, there is an even better one somewhere in the "market."
Q:
The marketing concept refers to
a. the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.
b. the belief that an organization should focus its efforts on (1) continuously collecting information about customers' needs, (2) sharing this information across departments, and (3) using it to create customer value.
c. the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
d. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
e. the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
Q:
Which of the following terms best describes the marketing concept era?
a. consumer-oriented
b. production-oriented
c. sales-oriented
d. society-oriented
e. competition-oriented
Q:
Which of the following statements about the marketing concept era is most accurate?
a. The marketing concept era can trace its roots to early Greek culture.
b. During the marketing concept era, companies tried to satisfy the needs of consumers while also achieving their goals.
c. During the marketing concept era, companies began to implement the idea of a marketing program.
d. During the marketing concept era, companies believed you could produce as much as you wanted because the product would sell itself.
e. All U.S. firms are now operating with a marketing concept philosophy.
Q:
Which era of U.S. business history does the following statement best describe? "We are in the business of satisfying the needs and wants of consumers."
a. the production era
b. the sales era
c. the market orientation era
d. the marketing concept era
e. the societal marketing era
Q:
Which era of U.S. business history does the following statement best describe? "We are in the business of satisfying the needs and wants of consumers while achieving our own goals."
a. the production era
b. the sales era
c. the marketing concept era
d. the marketing orientation era
e. the societal marketing era
Q:
With respect to the history of American business, the __________ era began in the late 1950s when marketing became the motivating force among many firms.
a. production
b. sales
c. customer relationship
d. market orientation
e. marketing concept
Q:
The American business period that strives to satisfy consumer needs while achieving an organization's goals is called the __________ era.
a. marketing concept
b. sales
c. production
d. societal marketing concept
e. customer relationship
Q:
The marketing concept era occurred from __________.
a. the early years of the U.S. to the 1920s
b. the 1920s to the 1960s
c. the late 1950s to the late 1990s
d. the mid-1960s to the present
e. the mid-1980s to the present
Q:
Imagine a confectionary company has introduced a new nutty candy bar during the 1930s (the sales era in U.S. business history). Which of the following statements would you MOST LIKELY expect management to make if sales of this new candy bar were much lower than expected?
a. "We"d better do some market testing to determine why people are dissatisfied."
b. "Perhaps we should make candy bars with raisins."
c. "Let's put more aggressive salespeople in the field."
d. "Let's lower the price and change the name."
e. "Don"t worry about it; we"re the largest candy manufacturer in the area. Sooner or later they"ll get hungry enough that they"ll come to us."
Q:
In the movie Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners in 1963. 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.
a. goods
b. sales
c. production
d. market orientation
e. societal marketing
Q:
Shortly after World War II, Sam Jackson developed an idea for a biodegradable lubricant that was superior to anything currently on the market. He was excited about his new idea and persuaded a number of his friends to help produce samples. While demand kept up with production at first, he soon found that he had to hire a sales force to sell excess product to manufacturing companies in the area. He decided this was primarily because his company had several strong competitors that had recently come into the industry. This is an example of marketing behavior that would occur during the __________ era of U.S. business history.
a. marketing concept
b. production
c. goods
d. sales
e. societal marketing concept
Q:
In the 19th century, the belief was that production creates its own demand. By the early 20th century, American companies began to produce more goods than buyers could consume. At the same time, competition became more significant. The usual solution was to hire more salespeople to find new buyers. This describes the __________ era.
a. goods
b. production
c. sales
d. marketing concept
e. market orientation
Q:
The period of American business history when firms could produce more goods than they could sell and the focus was on hiring more salespeople to seek out new markets and customers is referred to as the __________ era.
a. sales
b. marketing concept
c. production
d. goods
e. market orientation
Q:
With respect to the history of American business, the __________ era covered the years from the 1920s to the 1960s.
a. production
b. sales
c. marketing concept
d. customer relationship
e. market orientation
Q:
If you wanted a new pair of shoes during the Civil War, you traced the outline of your foot on a piece of paper and gave it to a shoemaker. There was no distinction between the right and left foot because you wanted your shoes as quickly as possible, and the shoemaker knew that you would buy them even if they just "sort of" fit. This is an example of a transaction that would have occurred during the __________ era in U.S. business history.
a. marketing concept
b. sales
c. production
d. societal marketing concept
e. market orientation
Q:
With respect to the history of American business, the __________ era covered the early years of the United States up until the 1920s.
a. production
b. sales
c. marketing concept
d. customer relationship
e. market orientation
Q:
3M's place strategy made it convenient for __________ to buy Post-it Flag Highlighters.
a. everyone
b. college students only
c. office workers only
d. college students and office workers
e. teachers
Q:
3M's Post-it Flag Highlighters marketing program was designed for
a. the initial introduction of two new 3M products.
b. specific promotions to be used for long-range strategies.
c. segmenting the market into twelve specific target market segments.
d. marketing 3M products to foreign markets.
e. positioning the products relative to major competitors.
Q:
3M's pricing strategy for its Post-it Flag Highlighters was as follows:
a. match its principal competitors' highlighters' prices.
b. charge $3.99 to $4.99 for a single Post-it Flag Highlighter or $5.99 to $7.99 for a three-pack, which would give a reasonable bookstore price to students and an acceptable profit to distributors and 3M.
c. set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated.
d. make the product easier to purchase by placing the Post-it Flag Highlighter in discount office supply retailers.
e. use the same pricing strategy as its 3M's Post-itFlag and Post-itNote offerings.
Q:
The purpose of the introduction of 3M Post-it Flag Highlighters was to
a. stay ahead of trends and focus its marketing program on only one segment.
b. stay ahead of trends and focus its marketing program on two mutually inclusive segments.
c. increase production economies of scale by reducing manufacturing and marketing costs for Post-it Flags and Post-it Notes.
d. preempt a competitive move by Sanford's Sharpie to introduce a similar product.
e. help college students with their studying.
Q:
A marketing program refers to
a. a plan that integrates the marketing mix to provide a product, service, or idea to prospective buyers.
b. the selection of product benefits and attributes that are added to or subtracted from a given product to create variations within a product line.
c. the marketing manager's controllable factorsproduct, price, promotion, and placethat can be used to solve a marketing problem.
d. the specific ratio within a marketing budget that divides resources between advertising, promotions, and personal selling.
e. the allocation of resources within a firm towards individual marketing mix elements.
Q:
In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s. A company called Tessitura is trying to change that. Tessitura is able to track every transaction with its patrons in one database. This information collected includes ticket purchases, fund-raising, volunteering, and gift shop purchases that will help symphonies, operas, and theaters develop customer profiles in order to tailor their sales messages to specific individuals. In other words, Tessitura is going to allow arts groups to engage in
a. market aggregation.
b. relationship marketing.
c. societal marketing.
d. market mining.
e. mainstream marketing.
Q:
Which of the following statements about relationship marketing is most accurate?
a. Relationship marketing has a short-term focus: increasing profits for the firm.
b. Relationship marketing begins before and ends after the sale.
c. Relationship marketing is more effective when there is a personal, ongoing relationship between an organization's employees and its customers in the selling and buying organizations.
d. Very few companies today are engaged in relationship marketing.
e. The Internet has allowed marketers to establish personal, "tender-loving care" relationships with customers.
Q:
Relationship marketing refers to
a. the selection and the assignment of a firm's personnel for a specific product or product line to a group of current or prospective customers.
b. the belief that it is easier and less expensive to find new customers than to retain old ones.
c. the linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
d. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
e. exclusive legally binding contractual agreements between retailers and customers in order to create enhanced value for each party.
Q:
If you ever talk to anyone who has flown on Singapore Air, you will no doubt hear about the great food that is served during the flight, the friendliness of the flight attendants, and the comfortable seating. From this description, you can surmise that Singapore Air creates customer value by providing its customers with
a. the best airport experience.
b. the most convenient flight schedules.
c. the best price for the distance traveled.
d. the best in-flight service.
e. the greatest sense of personal safety.
Q:
Starbucks Ad
According to the Starbucks ad above, what customer value strategy does Starbucks Coffee Company provide to its customers?
a. best product/service
b. best customer service
c. best value
d. best assortment
e. best price
Q:
Marriott, Lands' End, and Home Depot deliver customer value by providing its customers with the best
a. assortment.
b. products/services.
c. price.
d. customer service.
e. availability.
Q:
Starbucks, Nike, and Johnson & Johnson provide customer value by providing its customers with the best
a. assortment.
b. products/services.
c. price.
d. customer service.
e. availability.
Q:
Walmart, Southwest Airlines, and Costco all have been successful by offering consumers the best
a. experience.
b. products/services.
c. price.
d. customer service.
e. availability.
Q:
Which of the following statements about customer value is most accurate?
a. Target customers receive customer value in terms of a combination of benefits (quality, convenience, etc.) at any price.
b. Loyal customers are less profitable to firms in the long run since they expect lower prices over time in order to remain loyal.
c. Research suggests that all firms can be successful by being all things to all consumers.
d. It is impossible to place a dollar value on a loyal, satisfied customer.
e. To create value for targeted buyers, firms must build long-term relationships with them.
Q:
Customer value refers to
a. the need of a customer to receive the highest quality product at the lowest possible price.
b. the degree to which a customer is willing to sacrifice quality for price.
c. a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers..
d. the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
e. the cluster of benefits that an organization promises customers to satisfy their needs.
Q:
Pending federal legislation will require all online retailers to collect state sales taxes from customers. This would affect online sellers such as Virtual Vineyards, which now only collects state sales taxes from customers who reside in Californiaits home state. This pending legislation would be an example of which environmental force?
a. social
b. economic
c. technological
d. competitive
e. regulatory
Q:
With today's smartphones, you can watch the news, shoot videos, browse the Internet, take pictures, and listen to music. And more and improved new features are added with each new smartphone introduced from Apple, Samsung, BlackBerry, etc. As a result, consumers may want to replace their existing smartphones with new models or brands. This increase in demand is due in part to changes in ___________, an environmental force.
a. competition
b. social culture
c. technology
d. regulations
e. the economy
Q:
Many large consulting firms are beginning to sponsor "women-only" networking events. The purpose of these events is to offer an opportunity for women in management to network with other businesswomen, either as clients, mentors, or protgs. This is an example of which environmental force?
a. social
b. economic
c. technological
d. competitive
e. regulatory