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MM 2nd Edition by Dawn Iacobucci - Test Bank
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, Chapter 1: What Is Marketing?TRUE/FALSE
1. Marketing is defined as an exchange between a firm and its customers.
ANS: T PTS: 1 REF: Page 2
MSC: AACSB Reflective Thinking | TB&E Model Strategy | Knowledge of General Business
Functions
2. Customers typically do not mind paying for purchases.
ANS: T PTS: 1 REF: Page 3
MSC: AACSB Analytic | TB&E Model Customer | Knowledge of General Business Functions
3. Marketers try to figure out what customers want and then they try to figure out how to provide it and
make money doing so.
ANS: T PTS: 1 REF: Page 3
MSC: AACSB Analytic | TB&E Model Customer | Managing Strategy & Innovation
4. In an exchange, the customer wants something from the company but the company wants nothing from
the customer.
ANS: F PTS: 1 REF: Page 3
MSC: AACSB Analytic | TB&E Model Customer | Knowledge of Human Behavior & Society
5. Companies like taking in profits more than they care about their customers.
ANS: F PTS: 1 REF: Page 3
MSC: AACSB Reflective Thinking | TB&E Model Customer | Managing Human Capital
6. The term “market” sounds like it involves selling simple, tangible goods, but as you know, hardly
anything can be marketed.
ANS: F PTS: 1 REF: Page 4
MSC: AACSB Reflective Thinking | TB&E Model Marketing Plan | Managing Strategy & Innovation
7. Marketers help athletes, celebrities, and politicians with their images in their respective marketplaces
(to fans and agents, intelligentsia, or the public).
ANS: T PTS: 1 REF: Pages 4-5
MSC: AACSB Communication | TB&E Model Promotion | Knowledge of Media Communications &
Delivery
8. Some things that can be marketed include goods, services, experiences, events, and people.
ANS: T PTS: 1 REF: Page 4
MSC: AACSB Communication | TB&E Model Promotion | Knowledge of Media Communications &
Delivery
9. These days we live in a truly product-oriented and product-empowered marketing world.
ANS: F PTS: 1 REF: Page 5
MSC: AACSB Analytic | TB&E Model Product | Knowledge of Technology, Design, & Production
10. Many management gurus believe that marketing has succeeded so well that it really isn’t a function in
an organization anymore.
ANS: T PTS: 1 REF: Page 6
MSC: AACSB Reflective Thinking | TB&E Model Marketing Plan | Knowledge of General Business
Functions
11. Diana is the marketing vice president at Company ABC. As she assesses any particular business
problem or opportunity in terms of general analysis, she should review the 5Ps.
ANS: F PTS: 1 REF: Page 6
MSC: AACSB Reflective Thinking | TB&E Model Marketing Plan | Knowledge of General Business
Functions
12. One of the factors currently stressing marketers is the pressure to show results.
ANS: T PTS: 1 REF: Page 6
MSC: AACSB Analytic | TB&E Model Research | Operations Skills
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, 13. Marketing management is the overseeing of the processes of the 5C, STP, and 4P components.
ANS: T PTS: 1 REF: Page 6
MSC: AACSB Reflective Thinking | TB&E Model Marketing Plan | Managing Administration &
Control
14. You’ll always be a step ahead of your competition if you simply think about your company.
ANS: F PTS: 1 REF: Page 7
MSC: AACSB Reflective Thinking | TB&E Model Strategy | Strategic & System Skills
15. The 5Cs, STP, and 4Ps operate interdependently.
ANS: T PTS: 1 REF: Page 8
MSC: AACSB Analytic | TB&E Model Marketing Plan | Managing Strategy & Innovation
16. Every purchase begins with an assessment of convenience or wants.
ANS: F PTS: 1 REF: Page 8
MSC: AACSB Analytic | TB&E Model Strategy | Managing Decision-Making Processes
17. Buyers look for possible products and try to find information to guide them as to which might be the
best brand for their unique situation.
ANS: T PTS: 1 REF: Page 8
MSC: AACSB Reflective Thinking | TB&E Model Customer | Knowledge of Human Behavior &
Society
18. The buying process varies depending on whether the buyer is a consumer or a business.
ANS: F PTS: 1 REF: Page 9
MSC: AACSB Analytic | TB&E Model Marketing Plan | Managing Decision-Making Processes
19. B2B marketers have identified four kinds of purchases.
ANS: F PTS: 1 REF: Page 9
MSC: AACSB Reflective Thinking | TB&E Model Pricing | Managing Decision-Making Processes
20. Cultural and social factors heavily influence differences in customer preferences.
ANS: T PTS: 1 REF: Page 11
MSC: AACSB Diversity | TB&E Model Customer | Knowledge of Human Behavior & Society
21. Great marketing is based on sound, logical—emotional and physical—laws of human and organization
behavior.
ANS: F PTS: 1 REF: Page 12
MSC: AACSB Reflective Thinking | TB&E Model Customer | Knowledge of Human Behavior &
Society
22. Country, culture, and subculture influence consumer purchases but NOT organizational purchase
decisions.
ANS: F PTS: 1 REF: Page 11
MSC: AACSB Reflective Thinking | TB&E Model Customer | Knowledge of Human Behavior &
Society
MULTIPLE CHOICE
1. Marketers try to figure out what _____ want and then they try to figure out how to provide it and
make money doing so.
a. business owners c. advertisers
b. customers d. companies
ANS: B PTS: 1 REF: Page 3
MSC: AACSB Analytic | TB&E Model Customer | Managing Strategy & Innovation
2. Which of the following is defined to be an exchange between a firm and its customers?
a. advertising c. marketing
b. consumer behavior d. none of the above
ANS: C PTS: 1 REF: Page 3
MSC: AACSB Reflective Thinking | TB&E Model Strategy | Operations Skills
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, 3. If companies are good and if they’re lucky, the exchange continues iterating between the customer
and the company, _____ the tie between them.
a. strengthening c. distracting
b. weakening d. exhausting
ANS: A PTS: 1 REF: Page 3
MSC: AACSB Reflective Thinking | TB&E Model Strategy | Operations Skills
4. Marketers help/work with all of the following EXCEPT
a. athletes. c. department stores.
b. hotels. d. All can be helped by marketers.
ANS: D PTS: 1 REF: Pages 4-5
MSC: AACSB Communication | TB&E Model Promotion | Knowledge of Media Communications &
Delivery
5. On what did the early marketplace primarily focus?
a. product c. price
b. promotion d. place
ANS: A PTS: 1 REF: Page 5
MSC: AACSB Reflective Thinking | TB&E Model Product | Managing Strategy & Innovation
6. Today’s marketplace is focused more on
a. business. c. product.
b. customers. d. price.
ANS: B PTS: 1 REF: Page 5
MSC: AACSB Communication | TB&E Model Customer | Knowledge of Human Behavior & Society
7. Marketing is thought to be evidence of an evolved
a. society. c. customer.
b. business. d. market.
ANS: D PTS: 1 REF: Pages 5-6
MSC: AACSB Analytic | TB&E Model Strategy | Knowledge of General Business Functions
8. What is the result companies see from happier customers due to marketing?
a. Companies are less profitable c. Companies are more profitable
b. Companies market less d. Nothing
ANS: C PTS: 1 REF: Page 6
MSC: AACSB Analytic | TB&E Model Marketing Plan | Managing Decision-Making Processes
9. The letters CMO represent
a. Chief Management Officer. c. Central Management Officer.
b. Central Marketing Organization. d. Chief Marketing Officer.
ANS: D PTS: 1 REF: Page 6
MSC: AACSB Reflective Thinking | TB&E Model Marketing Plan | Knowledge of General Business
Functions
10. Advertising's goal is to enhance
a. brand image. c. marketing.
b. profit. d. purchases.
ANS: A PTS: 1 REF: Page 6
MSC: AACSB Communication | TB&E Model Promotion | Managing Strategy & Innovation
11. Which of the following is NOT part of the 5Cs?
a. context c. corporation
b. customer d. competitors
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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