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Principles of Marketing Ist Edition By Mcgrahill Education-Test Bank
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,Connect Master: Marketing, 1e (McGraw-Hill)Chapter 1 Overview of Marketing
1) As it relates to customers, the aim of marketing is to
A) provide customers with value.
B) increase profits by ensuring customers pay the highest price possible for a product.
C) accurately and truthfully advertise the product.
D) generate repeat sales from each and every customer.
E) reduce the number of customer complaints.
Answer: A
Explanation: Whether they are selling a product or a service, organizations today are constantly
looking for new ways to create value for the customer.
Difficulty: 2 Medium
Topic: Defining Marketing
Learning Objective: Define Marketing
Bloom's: Understand
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
2) Which of the following trends is accurate regarding the future of marketing?
A) The number of cable television subscribers has increased in recent years, signaling to
marketers that television advertising is still the preferred choice for marketing products.
B) Information posed online in blogs and through websites has not proven to be as successful as
marketers thought since consumers often doubt the accuracy of the information posted.
C) As technology impacts the business world, firms will need to explore new models that address
what customers want and how they prefer to receive information.
D) With the advent of technology, the basic goal of marketing has changed from how to create,
communicate, and deliver value to consumers to how to better segment and target consumer
markets.
E) Even though newspaper circulation has decreased in recent years, it is still the preferred way
to advertise because of its low cost.
Answer: C
Explanation: Regardless of how marketing evolves in the years ahead, the basic goal of
marketing—to create, communicate, and deliver value—has not changed. What has changed is
that firms will now need to explore new models that address what customers want and how they
prefer to receive information.
Difficulty: 3 Hard
Topic: The Importance of Marketing
Learning Objective: Explain why marketing is important, both within and outside the firm.
Bloom's: Analyze
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,3) According to your text, what is the most basic concept in marketing?
A) determining the difference between consumer needs and wants
B) determining the best advertising outlet for a product
C) streamlining production costs to generate maximum profits
D) satisfying the needs of stakeholders
E) getting all members of an organization to agree on a marketing plan
Answer: A
Explanation: Your text notes that the difference between consumer needs and wants is perhaps
the most basic concept in marketing. The job of a marketer is to match consumer needs with
wants.
Difficulty: 2 Medium
Topic: Marketing's Role in Organizations
Learning Objective: Describe the role of marketing in organizations.
Bloom's: Understand
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
4) The combination of activities that represent everything a firm can do to influence demand for
its good, service or idea is referred to as the marketing
A) plan.
B) concept.
C) mix.
D) matrix.
E) model.
Answer: C
Explanation: The marketing mix represents everything that a firm can do to influence demand
for its good, service, or idea. The four Ps of the marketing mix are: product, price, place, and
promotion.
Difficulty: 1 Easy
Topic: The Marketing Strategy
Learning Objective: Define marketing strategy.
Bloom's: Remember
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 5) The four Ps are more formally referred to as the marketing
A) dimensions.
B) concept.
C) framework.
D) matrix.
E) mix.
Answer: E
Explanation: The marketing mix represents everything that a firm can do to influence demand
for its good, service, or idea. The four Ps of the marketing mix are: product, price, place, and
promotion.
Difficulty: 1 Easy
Topic: The Marketing Strategy
Learning Objective: Define marketing strategy.
Bloom's: Remember
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
6) The organizational function and set of processes for creating, communicating, and delivering
value to customers and managing customer relationships in ways that benefit the organization
and its employees, customers, investors, and society as a whole is referred to as ________.
Answer: marketing
Explanation: Marketing is not just about advertising and promotion. It is the process of
communicating, and delivering value to customers and managing those relationships in ways that
benefit the organization and its employees, customers, investors and society as a whole.
Difficulty: 1 Easy
Topic: Defining Marketing
Learning Objective: Define Marketing
Bloom's: Remember
AACSB: Knowledge Application
Accessibility: Keyboard Navigation
7) The job of marketers is to focus on providing products that fulfill customers' ________, which
in turn will satisfy their underlying ________.
Answer: wants; needs
Explanation: The distinction between needs and wants is important and not always black and
white. Marketers focus on providing products that fulfill customers' wants, which in turn satisfy
their underlying needs.
Difficulty: 2 Medium
Topic: Marketing's Role in Organizations
Learning Objective: Describe the role of marketing in organizations.
Bloom's: Understand
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
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