Marketing Final Exam

Of communication and delivery and believes it is

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Unformatted text preview: party is capable of communication and delivery and believes it is desirable to do so. In this case, the value for Kellogg’s is customer loyalty. The value for the customer is the cereal and free movie. PTS: 1 REF: 4 Thinking KEY: CB&E Model Customer 9. For an exchange to take place: a. b. c. d. e. OBJ: 01-1 TOP: AACSB Reflective MSC: BLOOMS Application there must be at least two parties involved money must be used in the transaction each party must feel obligated to accept the offer at least one party must have something of value that the other party desires neither party must communicate with the other ANS: A For exchange to occur, there must be at least two parties, each party has something that might be of value to the other party, each party is capable of communication and delivery, each party is free to accept or reject the exchange offer, and each party believes it is appropriate or desirable to deal with the other party. PTS: 1 REF: 4 Thinking KEY: CB&E Model Customer OBJ: 01-1 TOP: AACSB Reflective MSC: BLOOMS Comprehension 10. The concept of exchange is important to marketing because: a. if all the conditions for an exchange are in place, then the exchange will be completed b. exchange provides money to marketers c. d. marketing activities help to create exchange marketing activities are a requirement for exchange to take place money is the only medium of exchange for business marketers e. ANS: C Marketing activities help the exchange to take place, but marketing can occur without an exchange. PTS: 1 REF: 4 Thinking KEY: CB&E Model Customer OBJ: 01-1 TOP: AACSB Reflective MSC: BLOOMS Evaluation 11. Barry collects antique watches and has decided to sell a few of them on eBay. Some of the watches he wants to sell are rare and very valuable. What condition is necessary for an exchange to occur between Barry and a buyer? a. His watch should have a certificate of authenticity. b. The opening bid must be lower than other watches being sold on the site. c. Buyers must provide payment before the item is shipped. d. Delivery must take place within 2 days of the purchase. e. Potential buyers must be able to see the watch and understand its qualities. ANS: E For an exchange to take place, there must be at least two parties, each party must have something the other values, the parties must be able to communicate, each party must believe that it is appropriate to deal with the other, and each party must be free to accept or reject the exchange offer. PTS: 1 REF: 4 Thinking KEY: CB&E Model Customer OBJ: 01-1 TOP: AACSB Reflective MSC: BLOOMS Application 12. All of the following are marketing management philosophies EXCEPT: a. sales orientation b. societal marketing orientation c. market orientation d. profitability orientation e. production orientation ANS: D The four marketing philosophies are commonly referred to as production, sales, market, and societal marketing orientations. PTS: 1 Thinking REF: 4 OBJ: 01-2 TOP: AACSB Reflecti...
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This document was uploaded on 09/29/2013.

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