Exam (elaborations)
Marketing 2014, 17th Edition by William M - Test Bank
Marketing 2014, 17th Edition by William M - Test Bank
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,Chapter 1—An Overview of Strategic MarketingESSAY
1. Suppose you are a marketing manager at Procter & Gamble for a new, all-purpose cleaning product.
List four marketing mix variables and describe the decisions and activities associated with each.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 01-02
NAT: BUSPROG: Reflective Thinking STA: DISC: International Perspective
KEY: Bloom's: Application
2. Describe several activities encompassed by the distribution variable.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-02
NAT: BUSPROG: Reflective Thinking STA: DISC: Distribution
KEY: Bloom's: Knowledge
3. Explain why marketing efforts should be oriented toward creating and sustaining satisfying exchange
relationships.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-02
NAT: BUSPROG: Analytic STA: DISC: International Perspective
KEY: Bloom's: Knowledge
4. What is meant by the term relationship marketing? How does relationship marketing affect the
customer?
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-05
NAT: BUSPROG: Reflective Thinking STA: DISC: Customer
KEY: Bloom's: Knowledge
5. What are the three ways that marketing environment forces affect a marketer's ability to create
satisfying exchange relationships?
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 01-02
NAT: BUSPROG: Analytic STA: DISC: International Perspective
KEY: Bloom's: Knowledge
6. What is meant by the term marketing concept, and what departments of a company does it affect?
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-04
NAT: BUSPROG: Reflective Thinking STA: DISC: International Perspective
KEY: Bloom's: Knowledge
7. What does it mean for a company to be marketing-oriented? What are the most important factors
involved in being marketing-oriented?
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 01-04
NAT: BUSPROG: Reflective Thinking STA: DISC: International Perspective
KEY: Bloom's: Knowledge
©2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, 8. Define the term value, and explain how people determine a product's value.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-03
NAT: BUSPROG: Communication STA: DISC: International Perspective
KEY: Bloom's: Knowledge
9. Why is marketing important to businesses and to the economy?
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 01-06
NAT: BUSPROG: Reflective Thinking STA: DISC: International Perspective
KEY: Bloom's: Knowledge
10. Explain why a knowledge of marketing is beneficial for all students.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-01
NAT: BUSPROG: Analytic STA: DISC: International Perspective
KEY: Bloom's: Knowledge
11. Define the term target market and provide an example for a product of your choice.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-02
NAT: BUSPROG: Communication STA: DISC: International Perspective
KEY: Bloom's: Knowledge
12. Discuss the concept of green marketing and why it is important to marketers.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 01-06
NAT: BUSPROG: Analytic STA: DISC: International Perspective
KEY: Bloom's: Knowledge
13. Describe the three different types of products.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Easy OBJ: LO: 01-01
NAT: BUSPROG: Analytic STA: DISC: Product
KEY: Bloom's: Knowledge
14. Discuss the evolution of the marketing concept through the various types of orientation.
ANS:
Answer not provided.
PTS: 1 DIF: Difficulty: Moderate OBJ: LO: 01-04
NAT: BUSPROG: Analytic STA: DISC: International Perspective
KEY: Bloom's: Knowledge
MULTIPLE CHOICE
15. Marketing is the process of
a. promoting products through personal selling and advertising to develop and maintain
favorable relationships with customers and stakeholders.
b. creating, distributing, promoting, and pricing products to facilitate satisfying exchange
relationships with customers and to develop and maintain favorable relationships with
stakeholders in a dynamic environment.
c. delivering a standard of living to a society.
©2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
, d. creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the
achievement of the firm's objectives.
e. focusing on customers' needs.
ANS: B PTS: 1 DIF: Difficulty: Moderate
OBJ: LO: 01-01 NAT: BUSPROG: Communication
STA: DISC: International Perspective KEY: Bloom's: Knowledge
16. The focal point of all marketing activities is
a. products.
b. the marketing mix.
c. profits.
d. sales.
e. customers.
ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 01-01 NAT: BUSPROG: Communication
STA: DISC: International Perspective KEY: Bloom's: Knowledge
17. Organizations should define themselves not according to the products they produce but according to
a. how profitable they are.
b. the price of their stock.
c. the abundance of their product selection.
d. how they treat employees.
e. how they satisfy customers.
ANS: E PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 01-01 NAT: BUSPROG: Communication
STA: DISC: International Perspective KEY: Bloom's: Knowledge
18. The definition of marketing implies that ____ should receive benefits from exchange relationships.
a. only customers
b. only businesses
c. company management
d. both customers and businesses
e. only the most important customers
ANS: D PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 01-01 NAT: BUSPROG: Communication
STA: DISC: International Perspective KEY: Bloom's: Knowledge
19. The primary value that a marketer expects to receive from a customer in an exchange relationship is
a. the price charged for the product.
b. customer satisfaction.
c. references to other potential customers.
d. quality merchandise that meets expectations.
e. few returns of the merchandise purchased.
ANS: A PTS: 1 DIF: Difficulty: Easy
OBJ: LO: 01-01 NAT: BUSPROG: Communication
STA: DISC: International Perspective KEY: Bloom's: Application
20. A target market
a. involves a large number of customers.
b. is a specific group of customers on whom a company focuses its marketing efforts.
c. already has several competitors vying for customers' business.
d. is the same as a salesperson's prospective client list.
e. is a customer group classified as people with similar demographic characteristics.
ANS: B PTS: 1 DIF: Difficulty: Easy
©2014 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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