Exam (elaborations)
M Marketing 5th edition By Dhruv Grewal - Test Bank
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, Chapter 01Overview 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 of the marketing mix include product, promotion, planning, and place.
True False
6. Value is what you get for what you give.
True False
7. In value cocreation, the customer participates in the creation of a good or service,
which provides additional value to the customer.
True False
8. 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
9. When a good or service is promoted, the purpose of the promotion is to inform,
persuade, or remind customers about the good or service.
True False
1-1
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
,10. When a manufacturer sells truck and car parts to Toyota, this is an example of B2C
marketing.
True False
11. The power adapters Dell sells with its computers are built by small companies that
specialize in power-related accessories. When Dell purchases its power adapters from
these small companies, it is engaged in B2B marketing.
True False
12. Garage sales and online classified ads are examples of C2C marketing.
True False
13. HappyCow is an example of a location-based social media application.
True False
14. 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
15. Marketing's fundamental purpose is to create value by developing a variety of
offerings that will earn income for the company.
True False
16. Margo likes her morning coffee, and she always stops at Starbucks because it is on
her way to work. Margo is being influenced by the place element of the marketing
mix.
True False
17. According to the American Marketing Association, marketing is the activity, set of
institutions, and processes for creating, capturing, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at
large.
True False
18. Buffalo Wild Wings suggests that its diners check in to its locations using their
phones. This demonstrates the use of social media to market a product.
True False
19. Approximately half of marketers say they now use social media tools for marketing
purposes.
True False
20. Firms become value driven, in part, by focusing on the competition.
True False
1-2
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
, Multiple Choice Questions
21. When a T-shirt manufacturer states, "We sell it only in black because that way we
can buy plenty of black fabric and run our plant efficiently," its 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. economics-
oriented
22. 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.
23. 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. completing the exchange function of
marketing
C. making product, place, promotion, and price
decisions
D. making decisions about the setting in which marketing
takes place
E. creating
value
1-3
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
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