E) ideas
Answer: D
Diff: 1
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking
9) Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________.
A) need
B) value
C) demand
D) market offering
E) desire
Answer: C
Diff: 3
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking
10) To market the cause of suicide prevention, rapper Logic worked with the National Suicide Prevent Lifeline (NSPL) to create a video embedded with his song "1-800-273-8255," the NSPL phone number. This is an example of a marketing offering for a(n) ________.
A) product
B) person
C) idea
D) place
E) exchange
Answer: C
Diff: 2
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking
11) Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.
A) consumers' brand experiences
B) competitors' threats
C) consumers' existing wants
D) competitors' strengths
E) consumers' future demands
Answer: C
Diff: 2
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Application of knowledge
12) The Walt Disney World Resort doesn't just offer amusement park rides, it uses its famed Disney magic to create carefully orchestrated ________.
A) service offerings
B) benefits
C) wants
D) values
E) experiences
Answer: E
Diff: 2
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking
13) ________ is the act of obtaining a desired object from someone by offering something in return.
A) Targeting
B) Segmentation
C) Differentiation
D) Exchange
E) Positioning
Answer: D
Diff: 1
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking
14) When backed by buying power, wants become needs.
Answer: FALSE
Diff: 2
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking
15) Market offerings are limited to physical products.
Answer: FALSE
Diff: 1
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Application of knowledge
16) Market offerings include entities such as people, places, information, and ideas.
Answer: TRUE
Diff: 2
LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
AACSB: Analytical thinking