Question 1

The pricing strategy for 3M's Post-it Flag Highlighters was to
A)match its principal competitors' highlighters' prices.
B)charge a price that would provide genuine value to the target customer segment.
C)set an initially low price with the intent of bringing down the price even further later if sales were less than anticipated.
D)place the product in discount office supply retailers to make it easier to purchase.
E)use the same pricing strategy as its 3M's Post-it Flag and Post-it Note offerings.

Accepted Answer

The pricing strategy for 3M's Post-it Flag Highlighters was to charge a price that would provide genuine value to the target customer segment. This is indicated in the case study which states that 3M researched the market and determined a price point that would provide value to customers while also being profitable for the company.

Question 2

A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel. Once he has accumulated enough points, he can trade his points in for a free night's stay. As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points. The marketing term that best describes this scenario is
A)relationship marketing.
B)customer satisfaction promotion.
C)customer relationship management.
D)customer valuation.
E)supplier-consumer partnership.

Accepted Answer

Relationship marketing links the organization to its individual customers,employees,suppliers,and other partners for their mutual long-term benefits.

Question 3

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of
A)demographic clusters.
B)organizational buyers.
C)ultimate consumers.
D)market segments.
E)qualified prospects.

Accepted Answer

Relatively homogeneous collections of prospective buyers are market segments. Market segmentation is the process of dividing a larger market into smaller groups of consumers with similar needs or characteristics. Within each market segment, the customers have similar needs and respond similarly to marketing strategies. Therefore, market segmentation helps companies to identify their target customers and develop marketing strategies to effectively reach them.

Question 4

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?
A)In his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market.
B)Paralegals were initially the intended target market for the Post-it Flag Highlighter.
C)David Windorski, a 3M inventor, also developed the Post-it Flag Pen for the office worker segment.
D)The Post-it Flag Highlighter was not successful and was deleted from the Post-it Flag product line.
E)In development of the Post-it Flag Highlighter, David Windorski examined similar products of 3M's major competitors and simply made changes that would provide the "wow" factor.

Accepted Answer

David Windorski, a 3M inventor, developed the Post-it Flag Pen for the office worker segment, which is a correct statement about 3M's marketing program for Post-it Flag Highlighters.

Question 5

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.

Accepted Answer

The answer of The purpose of the introduction of 3M...

Question 6

Based on the marketing program 3M developed for its Post-it Flag Highlighters and Post-it Flag Pens, one can conclude that
A)the market segments for Post-it Flag Highlighters and Post-it Flag Pens are identical.
B)the market segments for Post-it Flag Highlighters and Post-it Flag Pens are not realistic.
C)the Post-it Flag Highlighters and Post-it Flag Pens are priced unreasonably for the target markets.
D)the prices for 3M's Post-it Flag Highlighters and Post-it Flag Pens are set to maximize 3M's profits, not its distributors' profits.
E)the promotion strategy is designed to increase awareness among potential users.

Accepted Answer

The marketing program developed by 3M for its Post-it Flag Highlighters and Post-it Flag Pens includes promotions designed to increase awareness among potential users. This suggests that the promotion strategy is the main focus of the marketing program and is aimed at reaching out to new customers. The program does not provide any indication that the market segments for both products are identical, that the prices are unreasonable, or that the prices are set only to maximize 3M's profits.

Question 7

Market segments refer to
A)the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E)all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Accepted Answer

Market segments are groups of prospective buyers with common needs and similar responses to marketing tactics. Option D best describes this definition. Option A is similar but includes the word "relatively" heterogeneous, which is not completely accurate as market segments are usually more homogenous than heterogeneous. Option B is not accurate as it only refers to existing customers who intend to repeat the purchase. Option C is not accurate as it says buyers with similar needs do not react similarly in a buying situation, which contradicts the definition of market segments. Option E is not accurate as it refers to potential buyers who have not yet purchased a firm's products or services rather than groups with common needs and responses.

Question 8

A marketing program refers to
A)a plan that integrates the marketing mix to provide a good, 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 factors-product, price, promotion, and place-that 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 toward individual marketing mix elements.

Accepted Answer

A marketing program refers to a plan that integrates the marketing mix (product, price, promotion, and place) to provide a good, service, or idea to prospective buyers. It is a comprehensive approach that outlines the tactics and strategies a business will use to achieve its marketing objectives.

Question 9

In the performing arts world, box office technology has remained virtually unchanged since the 1980s. Tessitura is trying to change that by tracking every patron transaction, including ticket purchases, fund-raising, volunteering, and gift shop purchases, in one database. The information can help symphonies, operas, and theaters develop customer profiles to tailor sales messages to specific individuals. Tessitura will allow arts groups to engage in
A)market aggregation.
B)relationship marketing.
C)societal marketing.
D)market mining.
E)mainstream marketing.

Accepted Answer

Tessitura's technology allows arts groups to collect and analyze customer data, which is a key aspect of relationship marketing. This approach emphasizes building long-term relationships with customers by understanding their unique needs and preferences and tailoring marketing messages to address them.

Question 10

Publix Supermarkets and The Little Clinic signed an exclusive agreement, placing small walk-in health clinics inside selected stores. Publix customers can have simple medical needs addressed in a convenient and familiar environment seven days a week and pick up their prescriptions from the pharmacy without leaving the store. This is an example of
A)supplier management.
B)customer valuation.
C)societal marketing.
D)market aggregation.
E)relationship marketing.

Accepted Answer

This is an example of relationship marketing, as Publix is partnering with The Little Clinic to offer additional services to their customers, thereby improving the customer experience and building a stronger relationship with them.

Question 11

All of the following statements about the overall marketing program for 3M's Post-it Flag Highlighters are true except
A)David Windorski, a 3M inventor, designed the second generation of Post-it Flag Highlighters and Pens without the rotating cover to make it easier to insert replacement flags.
B)students were initially the intended target market for the Post-it Flag Highlighter.
C)in his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market.
D)David Windorski, the designer of the Post-it Flag Highlighter, appeared on "The Oprah Winfrey Show" so she could thank him in person for "his most incredible invention."
E)3M recently introduced additions to the Post-it Flag+ line: a Post-it Flag+ Gel Pen and a Post-it Flag+ Permanent Marker.

Accepted Answer

The statement "in his first attempt, David Windorski, a 3M inventor, designed the Post-it Flag Highlighter in exactly the right way to appeal to its target market" is false. In reality, Windorski designed multiple prototypes and conducted consumer research before arriving at the final design of the Post-it Flag Highlighter.

Question 12

An inventor for 3M, David Windorski, and a team of four college students, questioned dozens of students about how they study. They told the research team
A)that Scotch tape had outgrown its usefulness to students.
B)to make new products that have higher quality.
C)that the average backpack was already too heavy.
D)that it would be reasonable to put Post-it Flags together with a highlighter.
E)to determine the ratio of 3M products to study aid products of other competitors.

Accepted Answer

The students suggested combining Post-it Flags with highlighters, indicating a potential need for a product that combines note-taking and highlighting.

Question 13

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible
A)marketing strategy.
B)macromarketing agenda.
C)micromarketing agenda.
D)marketing program.
E)marketing concept.

Accepted Answer

The concepts developed from consumer ideas must be converted into a tangible marketing program that outlines how the product will be brought to the market, promoted, priced, and distributed. A marketing strategy is a broader plan for achieving marketing objectives and may include multiple marketing programs. Macromarketing and micromarketing agendas relate more broadly to the study of marketing systems and the role of marketing in society, respectively. The marketing concept is a philosophy that puts the customer at the center of all marketing activities.

Question 14

The place strategy in 3M's marketing program made it convenient for __________ to buy Post-it Flag Highlighters and Post-it Flag Pens.
A)external salespeople only
B)college students only
C)office workers only
D)college students and office workers
E)teachers only

Accepted Answer

The question specifies two products, Post-it Flag Highlighters and Post-it Flag Pens, which are commonly used in office and academic settings. Therefore, the target audience is likely to be college students and office workers who can benefit from these products. The "place strategy" mentioned in the question refers to making the products easily accessible to the target audience, which further strengthens the case for option D, as both college students and office workers can purchase these products conveniently from office and school supply stores or online retailers.

Question 15

The __________ concept means that an organization strives to satisfy consumer needs while achieving its goals.
A)marketing
B)sales
C)production
D)societal benefit
E)customer relationship

Accepted Answer

The marketing concept is the philosophy that an organization should strive to satisfy the needs of consumers while also achieving its own goals. It involves identifying consumer needs and wants, creating products and services to meet those needs, and promoting and delivering them effectively. This approach puts the consumer at the center of all marketing decisions and helps build long-term relationships with customers. The other options, sales, production, and societal benefit may or may not involve consumer needs and wants as the primary focus. Customer relationship could be a good choice, but it is often a part of the broader marketing concept.

Question 16

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as
A)a market segment.
B)a target market.
C)a customer base.
D)an ultimate consumer.
E)a preferred customer.

Accepted Answer

A market segment refers to a subgroup of potential customers with common needs, characteristics, or preferences that a company can target with a focused marketing strategy. This allows companies to tailor their marketing mix to better meet the needs of that particular group, leading to more effective marketing and improved customer acquisition and retention.

Question 17

In U.S. business history, the marketing concept became a motivating force during A)the early years of the Civil War. B)the 1920s. C)the 1950s. D)the mid-1980s. E)the first few years of the 21^st century.

Accepted Answer

The marketing concept emerged as a dominant force in the 1950s. This was a result of increased competition, changing consumer demographics, and a shift from production-oriented to consumer-oriented businesses. Companies realized that they needed to focus on the needs and wants of their target customers in order to succeed in the marketplace. This led to the development of new marketing techniques, such as market research and segmentation, and a greater emphasis on advertising and promotion.

Question 18

A __________ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
A)marketing strategy
B)marketing program
C)macromarketing tactic
D)micromarketing tactic
E)customer relationship management

Accepted Answer

Key term definition-marketing program.

Question 19

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.
A)market segment
B)demographic cluster
C)organizational buyer group
D)ultimate consumer group
E)qualified prospect group

Accepted Answer

A market segment is a group of people who have similar consumption behavior, such as similar needs, interests, and preferences. Demographic clusters refer to groups of people who share certain characteristics such as age, gender, and income, while organizational buyer groups are groups of buyers within a company. Ultimate consumer groups and qualified prospect groups are not specific marketing terms.

Question 20

The 3M Post-it Flag Highlighter and Pen marketing programs were designed for what primary objective?
A)the initial launch of two new 3M products
B)specific promotions to be used for long-range strategies
C)segmenting the market into 12 specific target market segments
D)marketing 3M products to foreign markets
E)positioning the products relative to major competitors

Accepted Answer

The marketing programs were specifically designed for the initial launch of two new products, the 3M Post-it Flag Highlighter and Pen.

Quiz 1: Creating Customer Relationships and Value Through Marketing

The pricing strategy for 3M's Post-it Flag Highlighters was to

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Which of the following statements about 3M's marketing program for Post-it Flag Highlighters is most accurate?

The purpose of the introduction of 3M Post-it Flag Highlighters was to

Based on the marketing program 3M developed for its Post-it Flag Highlighters and Post-it Flag Pens, one can conclude that

Market segments refer to

A marketing program refers to

All of the following statements about the overall marketing program for 3M's Post-it Flag Highlighters are true except

An inventor for 3M, David Windorski, and a team of four college students, questioned dozens of students about how they study. They told the research team

After an assessment of needs, a marketing manager must translate ideas from consumers into concepts for products that a firm may develop. The concepts must then be converted into a tangible

The place strategy in 3M's marketing program made it convenient for __________ to buy Post-it Flag Highlighters and Post-it Flag Pens.

The __________ concept means that an organization strives to satisfy consumer needs while achieving its goals.

The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as

In U.S. business history, the marketing concept became a motivating force during

A __________ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

The 3M Post-it Flag Highlighter and Pen marketing programs were designed for what primary objective?