Test Bank for Marketing: 2024 Release 8th Edition by Dhruv Grewal, Levy | Chap 1 to 10

Chap 01 2024 Release


1. Award: 10.00 points




Marketing is an activity that only large firms with specialized departments can perform.


 True

 False




Marketing activities can be performed by organizations of all sizes and also by individuals.


References

True / False Difficulty: 1 Easy Learning Objective: 01-01 Define the role
of marketing.



2. Award: 10.00 points



The marketing plan is broken down into various components—how the product or service will be
conceived or designed, how much it should cost, where and how it will be promoted, and how it will
get to the consumer.


 True

 False




The marketing plan is broken down into various components—how the product or service will be
conceived or designed, how much it should cost, where and how it will be promoted, and how it will
get to the consumer.


References

True / False Difficulty: 2 Medium Learning Objective: 01-01 Define the role
of marketing.

,3. Award: 10.00 points



Understanding the marketplace and a customer’s needs and wants is fundamental to marketing
success.


 True

 False




Understanding the marketplace, and especially the needs and wants of the customer, is
fundamental to marketing success.


References

True / False Difficulty: 1 Easy Learning Objective: 01-01 Define the role
of marketing.



4. Award: 10.00 points




The four Ps of the marketing mix include product, price, planning, and place.


 True

 False




The four Ps of the marketing mix are product, price, place, and promotion.


References

True / False Difficulty: 1 Easy Learning Objective: 01-01 Define the role
of marketing.

,5. Award: 10.00 points




Supply chain management is the set of approaches and techniques that firms employ to efficiently
and effectively integrate their suppliers, manufacturers, warehouses, stores, and other firms
involved in the transaction into a seamless value chain in which merchandise is produced and
distributed in the right quantities, to the right locations, and at the right time.


 True

 False




Many initially overlook the importance of marketing channel management because a lot of these
activities are behind the scenes. But without a strong and efficient marketing channel system,
merchandise isn’t available when customers want it.


References

True / False Difficulty: 1 Easy Learning Objective: 01-01 Define the role
of marketing.



6. Award: 10.00 points




The phone cases Apple sells with its phones are produced by small companies that specialize in
smart phone accessories. When Apple purchases its cases from these small companies, it is
engaged in B2B marketing.


 True

 False




Apple, a business, is purchasing supplies from another business, so this is an example of business-
to-business (B2B) marketing.


References

True / False Difficulty: 2 Medium Learning Objective: 01-01 Define the role
of marketing.

, 7. Award: 10.00 points




Keurig selling a coffee maker to you via its website is an example of C2C marketing.


 True

 False




This is a B2C marketing scenario in which a business is selling to a consumer.


References

True / False Difficulty: 2 Medium Learning Objective: 01-01 Define the role
of marketing.



8. Award: 10.00 points



As it relates to marketing, 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




In a marketing exchange, sellers provide products or services, then communicate and facilitate the
delivery of their offering to consumers. Buyers complete the exchange by giving money and
information to the seller.


References

True / False Difficulty: 1 Easy Learning Objective: 01-01 Define the role
of marketing.