Exam (elaborations)

Marketing Management 2nd Edition By Marshall - Test Bank

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Marketing - Test Bank

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Marketing - Test Bank

Chapter 02 Elements of Marketing Strategy, Planning, and Competition True / False Questions 1. Value is defined by the customer. True False 2. A benefit is some type of utility that a company and its products provide for customers. True False 3. Starbucks is known...

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, Chapter 01

Marketing in Today’s Business Milieu

True / False Questions

1. Even with great marketing, vast numbers of potential customers have never heard of
some products or services. Some people think that marketing is all about advertising,
pushy salespeople, celebrity spokespeople, spam e-mail, and overstated product
claims.

True False

2. The American Marketing Association defines marketing as "the activity, set of
institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large."
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large.

True False

3. Marketing is relevant only to people in the organization that work directly in the
marketing department.

True False

4. Of all the business fields, marketing is most visible to people outside the
organization. Peter Drucker stated that since it is the customer who defines value,
the business enterprise has only two business functions: marketing and innovation.

True False

5. Sustainability refers to practices of socially responsible firms that incorporate doing
well by doing good.

True False

6. A firm with a production orientation assumes that "if you build it, they will come."
Value and exchange are not considered to be core marketing concepts.

True False

7. Dell Computers employs one-to-one marketing by allowing a customer essentially to
customize the product features that he or she desires. When Henry Ford said "People
can have the Model T in any color—so long that it's black," he was reflecting a selling
focus.

True False

1-1
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.

,8. Don Peppers and Martha Rogers popularized the term one-to-one marketing. Some
firms come close to one-to-one marketing by combining flexible manufacturing with
flexible marketing to enhance customer choices.

True False

9. Fred Wiersema's book The New Market Leaders states that marketers will continue to
have more power than customers in both B2B and B2C markets.

True False

10. Firms today have learned to be open about products and services with consumers
who have endless sources of information, including blogs, chat rooms, and
independent websites.

True False

11.
Customer orientation and market orientation are opposing concepts. Customer-
oriented firms look at customers as individuals and market-oriented firms look at the
market as a whole. Relationship-oriented firms focus on short-term profitability.

True False

12. Direct-to-consumer marketing by pharmaceutical companies and the vast amount of
health information available to patients on websites enable them to self-diagnose
and self-prescribe and saves the physician time. The trend toward more information
in the hands of the customer is diminishing.

True False

13. Gen Yers tends to value relationships with marketers like State Farm Insurance in
exactly the same way their parents do.

True False

14. Little m marketing refers to tactics and programs the firm uses to reach its
stakeholders.

True False

15. Big M marketing refers to the strategic, long-term, firm-level commitment to
investing in marketing.

True False

16. It is important that everyone in the organization understand the concept of customer
orientation. After all, every employee has an internal customer.

True False

1-2
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.

, 17. Firms today are beginning to understand the importance of marketing metrics to
assess marketing performance. They are aligning all internal organization processes
and systems around the customer—from IT to billing to telecommunications.

True False

18. Strategic marketing refers to deciding which media, distribution, or pricing tactics to
use.

True False

19. Strategic marketing refers to the understanding of markets, competitors, and other
external forces as well as internal capabilities.

True False

20. Practicing marketers pitch marketing as an investment, not an expense, so using
marketing metrics is important.

True False

Multiple Choice Questions

21. The _____________ aspect of a firm is generally the most visible to people outside the
organization.

A. Financial
management
B. Accounti
ng
C. Marketin
g
D. Information
technology
E. Operations
management

1-3
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.

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