Test Bank For Marketing, 4th Edition

Name: Test Bank For Marketing, 4th Edition
Brand: Academic Documents Platform
Price: 25 USD
Availability: InStock
Author: Charlotte Kelly

Struggling with exam prep? Let Test Bank For Marketing, 4th Edition help you with questions and detailed answers.

Charlotte Kelly

Contributor

4.0

4 months ago

Preview (16 of 1859)

1-1
Chapter 01
Overview of Marketing
True / False Questions
1. Marketing is an activity that only large firms with specialized departments can execute.
True False
2. Good marketing is not a random activity.
True False
3. Understanding a customer's needs and wants is fundamental to marketing success.
True False
4. Marketers might wish to sell their products to everyone, but it is not practical to do so.
True False
5. The four Ps include product, promotion, planning, and place.
True False
6. The group of firms that makes and delivers a given set of goods and/or services is called a supply
chain.
True False
7. Value is what you get for what you give.
True False
8. In value cocreation, the customer participates in the creation of a good or service, which provides
additional value to the customer.
True False

1-2
9. Over the past decade or so, marketers have begun to realize that it is best to structure a firm's
customer orientation in terms of transactions rather than relationships.
True False
10. When a good or service is promoted, the purpose of the promotion is to inform, persuade, or
remind customers.
True False
11. When a car manufacturer sells trucks, cars, and car parts to the government or military, this is an
example of B2C marketing.
True False
12. The power adapters Dell sells with its computers are built by small companies who specialize in
power-related accessories. Dell and the power adapter manufacturers are engaging in B2B
marketing.
True False
13. Garage sales and online classified ads are examples of C2C marketing.
True False
14. Entrereneurial companies are unable to control their marketing mixes.
True False
15. Foursquare is an example of a location-based social media application.
True False
16. The trade of things of value between the buyer and the seller so that each is better off as a result
is known as an exchange.
True False
17. Marketing's fundamental purpose is to create value by developing a variety of offerings that will
earn income for the company.
True False
18. Margo likes a brand of coffee that is only sold at Starbucks, so she plans her route to work to
drive by Starbucks every morning. Margo is being influenced by the "place" element of the
marketing mix.
True False

1-3
Multiple Choice Questions
19. When a tee shirt manufacturer states, "We only sell it in black because that way we can buy
plenty of black fabric and run our plant efficiently," their statement reflects the views that were
popular in which era of the evolution of marketing?
A. Production-oriented
B. Sales-oriented
C. Market-oriented
D. Value-based marketing
E. Economic-oriented
20. Marketing involves all of the following EXCEPT
A. conducting exchanges.
B. satisfying customer needs and wants.
C. creating value.
D. efforts by individuals and organizations.
E. production scheduling.
21. Jami sells construction equipment. Whenever she calls on her building contractor customers, she
asks if they are having any problems. In doing so, Jami is addressing which of the following core
aspects of marketing?
A. Satisfying customer needs and wants
B. The exchange function of marketing
C. Product, place, promotion, and price decisions
D. Decisions about the setting in which marketing takes place
E. Creating value
22. Julia is considering a career in marketing. She is concerned about the image of marketers as
fast-talking, high-pressure people. When reading about the core aspects of marketing, Julia is
relieved to see that in marketing
A. all parties to an exchange should be satisfied.
B. promotion is the most important consideration, followed by pricing decisions.
C. decisions are made regarding how a product is designed.
D. customers are not considered until the product is ready for sale.
E. distribution is controlled by customers.

1-4
23. Xavier is analyzing potential market segments. He should carefully seek potential customers who
have both an interest in his products and
A. a thorough knowledge of his brand messages.
B. the ability to buy them.
C. knowledge of competing products.
D. the ability to negotiate discounts.
E. are removed from traditional marketing alternatives.
24. Of primary interest to marketers are __________ buyers.
A. centrally controlled
B. unqualified and underserved
C. qualified potential
D. first-time
E. C2C
25. When referring to "exchange," marketers are focusing on
A. the location where products and services are traded.
B. the price charged, adjusted for currency exchange rates.
C. location-based tactics for creating value.
D. promotional offers designed to stimulate barter.
E. the trading of things of value.
26. Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-
mail distribution list. In the process, in addition to exchanging her massage therapy service for
payment, Valerie is gathering
A. information.
B. promotional capital.
C. pricing data.
D. value cocreation.
E. feedback.

1-5
27. Which of the following is a core aspect of marketing?
A. Satisfying as many needs as possible
B. Creating a product that everyone will want to buy
C. Setting prices lower than all competitors
D. Making product, place, promotion, and price decisions
E. Increasing the company's profit
28. Marketing has traditionally been divided into a set of four interrelated decisions known as the
marketing mix, or four Ps, including all of the following EXCEPT
A. product.
B. place.
C. performance.
D. promotion.
E. price.
29. The four Ps make up the marketing mix, which is the __________ set of activities that the firm
uses to respond to the wants and needs of its target markets.
A. unpredictable
B. external
C. internal
D. controllable
E. global
30. The fundamental goal of marketers when creating goods, services, or combinations of both, is to:
A. defeat the competition.
B. serve all consumers.
C. operate according to government regulations.
D. stimulate short-term sales.
E. create value.

Loading page 6...

1-6
31. Brian is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as
an e-book or a paperback. Brian is addressing which core marketing aspect?
A. Developing a promotional plan
B. Managing the exchange function of marketing
C. Making product decisions
D. Deciding where and how to sell the product
E. Pricing the product
32. The basic difference between a good and a service is that a good
A. provides intangible benefits.
B. can be physically touched.
C. is always less expensive than a corresponding service.
D. generates greater interest among consumers.
E. is more quickly forgotten by consumers.
33. Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition
to continuing to sell paintings. Four Winds is
A. expanding from offering just services to also offering goods.
B. implementing a market segmentation strategy.
C. capturing value through multiple pricing strategies.
D. expanding from offering just goods to also offering services.
E. increasing customer value through inflated appraisal evaluations.
34. Marketers must determine the price of a product carefully, based on potential buyers' beliefs
about
A. its value.
B. the environment.
C. the cost to manufacture the product.
D. the economic outlook.
E. the product's new advertising campaign.

Loading page 7...

1-7
35. Some discount stores put products in large bins and let consumers hunt and find bargains. The
price these consumers pay includes
A. only the actual price they pay at the register.
B. the value of their time and energy.
C. the excitement they experience in finding an item they desire.
D. the savings to the store of not having to display the products neatly on shelves.
E. the time the product was full price and didn't sell.
36. Henriette offers financial counseling and management on a fee-only basis. She has found that
different customers are willing to pay different rates for her services. This shows that her pricing
decisions should depend primarily on
A. choosing an average price that she will charge all her clients.
B. changes in technology allowing consumers to manage their own affairs.
C. how different customers perceive the value of her services.
D. changes in the economy.
E. how much her competitors charge for similar services.
37. Delivering the value proposition is also known as
A. endless chain marketing.
B. a transactional orientation.
C. wholesaling.
D. product design.
E. supply chain management.
38. Marketing efforts designed to get the product or service to the right customer, when that customer
wants it, are called
A. supply chain management.
B. a transactional orientation.
C. wholesaling.
D. value cocreation.
E. endless chain marketing.

Loading page 8...

1-8
39. Yesenia, the new university course scheduling manager, is struggling with adjustments to the fall
schedule. She is trying to determine how to offer the classes students need at the times when
students need them. Yesenia is struggling with the marketing function of
A. communicating the value proposition.
B. supply chain management.
C. creating value.
D. capturing value.
E. value cocreation.
40. The marketing goal of getting the "right quantities to the right locations, at the right time" is:
A. communicating the value proposition.
B. supply chain management.
C. creating value.
D. capturing value.
E. price and performance management.
41. Marketers involved in supply chain management are constantly balancing
A. the goal of promotional effectiveness against ethical advertising standards.
B. the problem of price maximization against cost efficiency.
C. the goal of minimizing costs against satisfying the service levels customers expect.
D. the desire to achieve against the need for a stable source of supply.
E. the goal of efficiency against the price charged by competitors.
42. The importance of supply chain management is often overlooked in the study of marketing
because
A. marketing has no responsibility for supply chain management.
B. supply chain management doesn't add much value for customers.
C. companies do not want customers to know anything about the supply chain.
D. many of the activities take place behind the scenes.
E. supply chain management is already transparent.

Loading page 9...

1-9
43. When considering career choices in marketing, many students overlook supply chain
management because
A. it is considered too quantitative.
B. marketing has no responsibility for supply chain management.
C. companies generally outsource these activities, and so there are rarely supply chain jobs
available.
D. it only takes place in large, urban areas.
E. many of the activities take place behind the scenes.
44. UPS, FedEx, DHL, and other shipping companies support other firms' __________ marketing
goals.
A. supply chain management
B. value communication
C. value capture
D. retail management
E. none of these
45. __________ is communication by a marketer that informs, persuades, or reminds potential
customers about a product.
A. Pricing
B. Promotion
C. Placement
D. A relational orientation
E. Value cocreation
46. Effective promotion enhances a product or service's
A. supply chain management system.
B. wholesaling capabilities.
C. perceived value.
D. design features.
E. trialability.

Loading page 10...

1-10
47. By promoting perfume based on youth, style, and sex appeal, Calvin Klein is attempting to
A. influence social norms regarding sexuality.
B. encourage consumers to participate in product redesign.
C. stimulate supply chain management cooperation.
D. increase the perceived value of their products.
E. none of these.
48. The traditional marketing channel through which consumers most often find and purchase goods
and services is known as
A. B2B.
B. C2C.
C. D2C.
D. C2D.
E. B2C.
49. Retailers accumulate merchandise from producers in large amounts and sell to consumers in
smaller amounts. Retailers function as
A. market intermediaries.
B. monopolists.
C. regulators of consumer demand.
D. wholesale specialists.
E. intermediate promoters.
50. Auction sites like eBay have increased opportunities for __________ marketing.
A. B2B
B. C2C
C. D2C
D. C2D
E. B2G

Loading page 11...

1-11
51. As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but
decided instead to continue to sell through their existing dealer networks. The car manufacturers
considered switching from __________ to __________ marketing.
A. B2C; B2B
B. B2C; C2C
C. B2B; B2C
D. B2B; C2C
E. C2C; B2C
52. Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and
exchange of used books among students. These bulletin boards increase __________
marketing.
A. B2C
B. C2B
C. B2B
D. C2C
E. underground
53. Which of the following is NOT true about marketing ideas?
A. Opinions, philosophies, intellectual concepts, and even thoughts can be effectively marketed.
B. The marketing of ideas does not involve true exchange of value.
C. Ideas can be "purchased" by convincing someone to change his or her behavior.
D. Marketing can be directed toward primary and secondary targets to increase knowledge and
change behavior.
E. Value can be created through changing behaviors.
54. The "Got Milk" advertising campaign, designed to increase consumption of milk, was intended to
help market a(n)
A. individual.
B. firm.
C. industry.
D. organization.
E. specific product.

Loading page 12...

1-12
55. The evolution of marketing progressed along the following continuum:
A. sales, marketing, value-based marketing, production.
B. marketing, value-based marketing, production, sales.
C. value-based marketing, production, sales, marketing.
D. production, sales, marketing, value-based marketing.
E. sales, value-based marketing, marketing, production.
56. The idea that a good product will sell itself is associated with the __________ era of marketing.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
57. Henry Ford's statement, "Customers can have any color they want so long as it's black," typified
the __________ era of marketing.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
58. Melanie works for a small computer software company. Her boss is constantly improving their
products but neglecting customers, billing, and promoting the company. Her boss is probably
stuck in the __________ era of marketing.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented

Loading page 13...

1-13
59. During the __________ era, firms had excess capacity and used personal selling and advertising
to generate customers.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
60. The prevailing marketing strategy of the __________ era was to find customers for inventories
that went unsold.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
61. Near the end of the model year, Move-Them-Out automobile dealership had an unusually high
inventory level. The manager increased her advertising spending and gave extra incentives to its
salespeople. Move-Them-Out operates as if it were in the __________ era.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
62. Many U.S. companies first discovered marketing during the __________ era.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented

Loading page 14...

1-14
63. During the market-oriented era
A. a good product would sell itself.
B. the customer was king.
C. marketing was more important than production.
D. advertising and personal selling were emphasized to make the sale.
E. firms focused on value.
64. During the __________ era manufacturers and retailers began to focus on what consumers
wanted and needed before they designed, made, or attempted to sell their products.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
65. During the __________ era manufacturers and retailers recognized they needed to give their
customers greater value than their competitors did.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
66. Value is
A. the lowest cost option.
B. represented by brand names.
C. the highest priced alternative.
D. everyday low prices.
E. what you get for what you give.

Loading page 15...

1-15
67. Trey sells consumer electronics. He knows his customers weigh the costs versus the benefits
associated with the different options available. He decides which products to offer and what
prices to charge based on the way his customers think. Trey operates in the __________ era.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
68. Serena studies her customer profiles, market research data, complaints, and other information,
attempting to better understand what her customers want. Serena operates in the __________
era of marketing.
A. production-oriented
B. sales-oriented
C. market-oriented
D. value-based marketing
E. retailing-oriented
69. In delivering value, marketing firms attempt to find the most desirable balance between
A. the need for value and the perception of value.
B. explicit versus implicit value.
C. providing benefits to customers and keeping costs down.
D. the desire to satisfy customers and the need to keep customers from running the company.
E. the need for product improvement and the need for advertising.
70. Yolanda is the new restaurant manager in a major hotel. When considering changes in the
restaurant to improve benefits to customers, Yolanda will likely attempt to either provide the same
quality at a lower cost or
A. improve products and services at the same cost.
B. increase prices to increase revenue.
C. offset higher hotel rates with lower restaurant prices.
D. reduce customer expectations through reduced service.
E. any of these.

Loading page 16...

13 more pages available. Scroll down to load them.

Preview Mode

100%

Study Now!

XY-Copilot AI

Unlimited Access

Secure Payment

Instant Access

24/7 Support

Document Chat

Document Details

Subject

Marketing

Test Bank For Marketing, 4th Edition

Study Now!

Document Details

Related Documents

Analyzing Market Differences

Creating Good Advertising 4 Rules to Attract, Inte

Key Questions for Managing Stakeholder Relationshi

Comparing Daiso and Miniso A Comprehensive Analysi

HP Sauce vs

Comparative Analysis of Food Lion and Walmart Pric

J.crew.edited 2.edited

New Product Launch Marketing Plan

Marketting Plan For Organic Vally

Marketing Research Final Exam

Company

Explore

Study Tools