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Test Bank For Contemporary Marketing, 16th Edition

Maximize your study time with Test Bank For Contemporary Marketing, 16th Edition, featuring a range of exam questions and answers for rapid review.

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Chapter 1: Marketing: The Art and Science of Satisfying CustomersTRUE/FALSE1.Information technologies give organizations fast new ways to interact and develop long-termrelationships with their customers and suppliers.ANS:TPTS:1DIF:Difficulty: EasyOBJ:LO: 1-1NAT:BUSPROG: AnalyticSTA:DISC: CustomerTOP:A-Head: What Is Marketing?KEY:Bloom's: Knowledge2.Production and marketing of goods and services are two basic functions that create utility.ANS:TPTS:1DIF:Difficulty: EasyOBJ:LO: 1-1NAT:BUSPROG: AnalyticSTA:DISC: CustomerTOP:A-Head: What Is Marketing?KEY:Bloom's: Knowledge3.Form utility refers to conversion of raw materials and components into finished goods and services.ANS:TPTS:1DIF:Difficulty: EasyOBJ:LO: 1-1NAT:BUSPROG: AnalyticSTA:DISC: Marketing PlanTOP:A-Head: What Is Marketing?KEY:Bloom's: Knowledge4.An auto manufacturer creates ownership utility for its consumers by combining metal, rubber, plasticand petroleum products.ANS:FPTS:1DIF:Difficulty: ModerateOBJ:LO: 1-1NAT:BUSPROG: Reflective ThinkingSTA:DISC: CustomerTOP:A-Head: What Is Marketing?KEY:Bloom's: Application5.Within a business environment, the marketing function is responsible for the creation of time, place,and ownership utility, whereas the production function creates form utility.ANS:TPTS:1DIF:Difficulty: EasyOBJ:LO: 1-1NAT:BUSPROG: AnalyticSTA:DISC: Marketing PlanTOP:A-Head: What Is Marketing?KEY:Bloom's: Knowledge6.Buying an iPod generates ownership utility; however, buying a concert ticket does not.ANS:FPTS:1DIF:Difficulty: ModerateOBJ:LO: 1-1NAT:BUSPROG: Reflective ThinkingSTA:DISC: CustomerTOP:A-Head: What Is Marketing?KEY:Bloom's: Application7.Owen buys a car for himself. Owen has created ownership utility.ANS:TPTS:1DIF:Difficulty: ModerateOBJ:LO: 1-1NAT:BUSPROG: Reflective thinkingSTA:DISC: CustomerTOP:A-Head: What Is Marketing?KEY:Bloom's: Application8.An organization creates a customer through a three-step approach: identifyingneeds in the marketplace, finding out which needs the organization can profitably serve, anddeveloping goods and services to convert potential buyers into customers.

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Marketing
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Contemporary Marketing by Louis E. ...

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