Question 1

An employee, Lindsey, works at Sanofi-Pasteur, a pharmaceutical company, in the marketing department. Her first task of marketing a potential new product is to:
A)discover the needs of consumers.
B)discover the needs of competitors.
C)satisfy the needs of regulators.
D)discover the needs of sellers.

Accepted Answer

The first step in marketing a potential new product is to discover the needs of consumers. Understanding the needs and preferences of potential customers is integral in developing a product that will be successful in the market. Once these needs are identified, marketing strategies and messaging can be developed to effectively reach and connect with the target audience.

Question 2

A single parent would like to hire a nanny, but s/he cannot afford one. Marketing does not occur in this situation because:
A)there is no desire on the part of either party to satisfy the other.
B)one of the involved parties does not have the ability to satisfy the other.
C)there is no way to communicate.
D)two or more parties have unsatisfied needs.

Accepted Answer

Marketing involves two or more parties where one party has a need and the other party has the ability to satisfy that need in exchange for something of value. In this situation, the parent has a need for a nanny, but cannot afford to hire one. Therefore, there is no ability on the part of the parent to satisfy the potential nanny's need for employment in exchange for payment, and marketing cannot occur.

Question 3

Brandy works at the marketing department for Apple Computers. The two central concerns of her marketing department are:
A)needs and wants.
B)maximizing an organization's sales and products.
C)promotion and sales.
D)discovering and satisfying needs.

Accepted Answer

The central concerns of Brandy's marketing department are discovering and satisfying needs, which means identifying what customers need or want and creating products or services that fulfill those needs. While maximizing sales and promoting products are important aspects of marketing, they are secondary to understanding and meeting customer needs.

Question 4

In a free-enterprise society, the specific groups that benefit from effective marketing include all of the following EXCEPT:
A)consumers who buy
B)the conjunction between these three
C)organizations that sell
D)society as a whole

Accepted Answer

The conjunction between three is not a clear or specific group that benefits from effective marketing in a free-enterprise society. The other options (consumers who buy, organizations that sell, and society as a whole) are all clear and specific groups that benefit from effective marketing.

Question 5

The Hotel Westcourt in Ottawa is next to Metrocentre, a vast shopping mall. The hotel wants to market its location and many other amenities to convention-goers from other provinces and states. What requirement will not be needed for marketing to occur?
A)something to exchange
B)ignoring communication with convention attendees
C)desire and ability to satisfy unmet needs
D)two or more parties with unsatisfied needs

Accepted Answer

Communication with convention attendees is necessary for effective marketing, so ignoring it would hinder marketing efforts. The other options (A, C, and D) are all requirements for marketing to occur.

Question 6

Before any new start-up decides to offer a product, their first task is to address a gap in the market. This is often done by discovering consumer:
A)diversity.
B)needs.
C)ability to pay.
D)objectives.

Accepted Answer

To succeed in the market, it is important for start-ups to identify the needs of their potential customers and create a product or service that addresses those needs. By fulfilling this gap, the start-up can create a demand for their product and pave the way for success. Understanding consumer needs is crucial for any new start-up to thrive in the market.

Question 7

While shopping for back-to-school goods, you come across the following items, all of these are marketed except for:
A)Nikon cameras.
B)Crest toothpaste.
C)Advice from TD Waterhouse
D)Apple computers.

Accepted Answer

The other options are all tangible products that can be sold in a back-to-school setting. TD Waterhouse provides financial advice and services, which although important, is not typically associated with back-to-school shopping.

Question 8

The four controllable marketing mix factors include all of the following except:
A)Product.
B)Promotion.
C)Penetration.
D)Price.

Accepted Answer

The correct phrase is "market penetration strategy," which refers to a technique used by companies to increase their market share by encouraging customers to buy more of their current products or services. It is not one of the four traditional controllable marketing mix factors. The four factors are product, price, promotion, and place.

Question 9

A marketing student would like to buy a quad-bike, but he cannot afford one. Which of the following reasons explain why marketing fails to occur here?
A)an ability on the part of one party to satisfy the other
B)a desire on the part of each to satisfy the other
C)two or more parties with unsatisfied needs
D)no assessments of consumer wants and needs

Accepted Answer

Marketing fails to occur because there is no ability on the part of the student to satisfy the seller's need for payment, as the student cannot afford the quad-bike.

Question 10

Candidates are running for office and would very much like to have your vote. They all promise that they will "make the country better." You do not trust any politicians and decide not to vote at all. Marketing will not occur in this situation because:
A)marketing doesn't apply to the voting process.
B)there is no direct way for the parties to communicate.
C)something to exchange is missing.
D)the desire and ability to satisfy needs is missing.

Accepted Answer

Marketing is the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. In this situation, the desire and ability to satisfy needs is missing as the individual has chosen not to vote due to lack of trust in politicians. As a result, there is no exchange occurring and marketing cannot take place.

Question 11

Which of the following statements about marketing departments is not true?
A)The marketing department is responsible for designing, creating, and building new products that satisfy the needs and wants of consumers.
B)It is the responsibility of the marketing department to facilitate relationships with the organization's customers.
C)It is the responsibility of the marketing department to create partnerships with the organization's suppliers.
D)The marketing department must work closely with a network of other departments and employees to help provide the customer-satisfying products required for the organization to survive and prosper.

Accepted Answer

While the marketing department plays a role in product development and feedback, the primary responsibility for designing, creating, and building new products typically falls to the research and development department or product development team.

Question 12

The Shangri-La Hotel and Spa in Toronto is setting up a clinic where visiting clients can get a comprehensive physical while staying at the hotel and using the spa facilities.
The largest anticipated issue is the possible unwillingness for people to go to doctors that they do not know. Marketing may fail to occur here because:
A)two or more parties have unsatisfied needs.
B)there may be no desire on the part of the hotel/spa customer to satisfy this need.
C)there is nothing to exchange.
D)there is no way for the parties involved to communicate.

Accepted Answer

The issue mentioned is related to the potential reluctance of hotel/spa customers to go to unfamiliar doctors, indicating that there may be no desire on the part of these customers to satisfy their need for a comprehensive physical. Therefore, marketing may fail to occur because of the lack of willingness or desire on the part of the target market.

Question 13

The four outside stakeholder groups that exert important direct influences on an organization consist of:
A)other organizations, suppliers, shareholders (owners), and customers.
B)competitors, industry trade associations, non-profit organizations, and governmental agencies.
C)senior management, the legal department, the marketing department, and other employees of the organization.
D)politicians, regulators, minority groups, and consumer monitoring groups.

Accepted Answer

The four outside stakeholder groups that have important direct influences on an organization include other organizations (such as competitors), suppliers, shareholders/owners, and customers. While the other options listed may also have an impact on the organization, they are not considered direct stakeholders in the same way as these four groups.

Question 14

Terence, an employee at a financial institution is designing a marketing program for their products and services. One or more specific groups of potential consumers toward which the financial institution directs its marketing program is known as a
________.
A)marketing mix
B)target market
C)sub-market
D)generic market

Accepted Answer

A target market is a specific group or groups of potential customers that a company focuses its marketing efforts on. The marketing program is designed to meet the needs and wants of this target market, and to differentiate the company's products and services from those of its competitors. Options A, C, and D are not accurate definitions of a target market. A marketing mix refers to the set of tactics or tools that a company uses to promote its products or services, while sub-market and generic market are not commonly used marketing terms.

Question 15

Which of the following statement best defines needs and wants?
A)Wants occur when a person feels physiologically deprived of something, and needs are determined by a person's knowledge, culture, or personality.
B)Needs occur when a person feels physiologically deprived of something like food, clothing, and shelter whereas wants are felt needs that are shaped by a person's knowledge, culture, or personality.
C)Wants are a subset of needs.
D)Needs affect marketing, but wants do not.

Accepted Answer

Needs are basic necessities required for human survival like food, clothing, and shelter. Wants are felt needs that go beyond basic necessities and are shaped by a person's culture, knowledge, and personality. For example, while everyone needs food to survive, the specific types of food a person wants can vary greatly depending on their culture and personal preferences. Thus, Option B correctly defines needs and wants. Option A is incorrect because it wrongly suggests that wants are related to a person feeling physiologically deprived of something. Option C is incorrect because wants are not a subset of needs but rather a separate category altogether. Option D is incorrect because both needs and wants affect marketing.

Question 16

Which of the following conditions must exist in order for marketing to occur?
A)two or more parties with unsatisfied needs, a desire to satisfy them, a satisfactory product, and something to exchange
B)two or more people, a product, a reasonable price, and a place to make an exchange
C)two or more parties with unsatisfied needs, a desire and ability to satisfy them, a way to communicate, and something to exchange
D)two or more people, a method of assessing needs, a way to communicate, and an exchange

Accepted Answer

Marketing occurs when there are two or more parties with unsatisfied needs, a desire and ability to satisfy them, a way to communicate, and something to exchange. Option A is similar but does not mention the need for a way to communicate. Option B mentions a product and a place to make an exchange but does not mention the need for communication or the desire and ability to satisfy needs. Option D mentions a method of assessing needs but does not mention the desire and ability to satisfy them or the need for something to exchange.

Question 17

Janelle works in the marketing department in a public organization in Iqaluit, Nunavut, whose responsibility is public safety. Which of the following statements is not true?
A)Marketing activities provide the customer-satisfying products required for the organization to survive and prosper.
B)Environmental factors affect marketing activities.
C)The marketing department works closely with other departments and employees to implement marketing activities.
D)Marketing activities are not used in public organizations.

Accepted Answer

The statement "Marketing activities are not used in public organizations" is not true. Public organizations also use marketing activities to inform and educate the public about their programs and services.

Question 18

A television advertisement shows several teenagers searching through a store drinks cooler for something to quench their thirst. The refrigerator offers the youngsters many alternatives - soft drinks, fruit drinks, sport drinks, and water. The ad, which shows the teens happily selecting a particular energy drink over all the other product offerings, appeals to the consumers' ________for liquid and attempts to shape consumers' ________ for the advertised product.
A)preferences; needs
B)needs; wants
C)wants; needs
D)wants; preferences

Accepted Answer

The advertisement appeals to the consumers' basic need for liquid (hydration) and attempts to shape their wants for the specific advertised energy drink over other options.

Question 19

Your father is tired of conventional light beers, and wants something different. Coincidentally, a newly-opened micro-brewery has begun distributing a new organic light beer through local beer stores and liquor stores and it is only slightly more
Expensive than conventional light beers. Which of the conditions needed for marketing to occur are described in this situation?
A)a physical location for an exchange to take place
B)the creation of unrealized needs
C)one-way communication
D)two parties with unsatisfied needs

Accepted Answer

The situation describes two parties with unsatisfied needs - the father who is tired of conventional light beers and the micro-brewery looking to distribute their new organic light beer. This satisfies one of the necessary conditions for marketing to occur. A physical location for exchange is not specified, there is no creation of unrealized needs, and there may be two-way communication between the parties but it is not explicitly mentioned.

Question 20

Suppose you are a university student taking a full course load, working 15-20 hours per week, and finding it necessary to fund the majority of your tuition and living expenses with a student loan. However, you see an ad for a two-week all-inclusive 'young person' holiday package to a resort in the Caribbean and you would desperately like to purchase a ticket for this vacation. What factor is not likely to prevent you from engaging in a marketing transaction?
A)You do not have the time to get to the one travel agency in town that requires an appointment to be able to go through the booking process because of your class, work, and study schedule.
B)Your parents are able to loan you the money.
C)You do not have the resources to qualify for a $3,000 personal loan in order to pay for the ticket.
D)The promoters of this vacation package have been overwhelmed with responses to the ad and there is now a waiting list.

Accepted Answer

Your parents being able to loan you the money would not prevent you from engaging in the transaction; it actually facilitates it by providing the necessary funds.

Quiz 1: Creating Customer Value, Relationships, and Experiences Through Marketing

An employee, Lindsey, works at Sanofi-Pasteur, a pharmaceutical company, in the marketing department. Her first task of marketing a potential new product is to:

A single parent would like to hire a nanny, but s/he cannot afford one. Marketing does not occur in this situation because:

Brandy works at the marketing department for Apple Computers. The two central concerns of her marketing department are:

In a free-enterprise society, the specific groups that benefit from effective marketing include all of the following EXCEPT:

The Hotel Westcourt in Ottawa is next to Metrocentre, a vast shopping mall. The hotel wants to market its location and many other amenities to convention-goers from other provinces and states. What requirement will not be needed for marketing to occur?

Before any new start-up decides to offer a product, their first task is to address a gap in the market. This is often done by discovering consumer:

While shopping for back-to-school goods, you come across the following items, all of these are marketed except for:

The four controllable marketing mix factors include all of the following except:

A marketing student would like to buy a quad-bike, but he cannot afford one. Which of the following reasons explain why marketing fails to occur here?

Candidates are running for office and would very much like to have your vote. They all promise that they will "make the country better." You do not trust any politicians and decide not to vote at all. Marketing will not occur in this situation because:

Which of the following statements about marketing departments is not true?

The four outside stakeholder groups that exert important direct influences on an organization consist of:

Terence, an employee at a financial institution is designing a marketing program for their products and services. One or more specific groups of potential consumers toward which the financial institution directs its marketing program is known as a ________.

Which of the following statement best defines needs and wants?

Which of the following conditions must exist in order for marketing to occur?

Janelle works in the marketing department in a public organization in Iqaluit, Nunavut, whose responsibility is public safety. Which of the following statements is not true?