Chap 01:Overview of Marketing.
1) Good marketing should mean doing good for the world at large.
⊚ true
⊚ false
2) 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
3) Understanding the marketplace and especially a consumer's needs and wants, is fundamental
to marketing success.
⊚ true
⊚ false
4) In their battle for chocolate lovers, companies like Godiva and Hershey's would divide the
population into different categories of consumers, for example, those looking for a quick
energy boost versus those looking for a gift. The companies do this in order to satisfy
different consumer needs and wants.
⊚ true
⊚ false
5) Lynn and her husband had a delicious Italian dinner at Angelis. When the meal was over,
they paid the bill and left a tip. This is an example of an exchange.
⊚ true
⊚ false
6) The four Ps of the marketing mix are product, promotion, planning, and place.
⊚ true
⊚ false
1
,7) Without a strong and efficient marketing channel system, merchandise isn't available when
customers want it.
⊚ true
⊚ false
8) Purex laundry detergent is an example of an idea.
⊚ true
⊚ false
9) When a manufacturer sells truck and car parts to Toyota, this is an example of B2C
marketing.
⊚ true
⊚ false
10) Ladonna took her wedding dress to the cleaners, where it was cleaned and repaired. This is
an example of a good.
⊚ true
⊚ false
11) Rizzo took her wedding dress to the cleaners, where she paid for it to be cleaned and sealed
in a box for storage. This scenario represents a good, not a service.
⊚ true
⊚ false
12) The power adapters that IBM sells with its computers are built by small companies that
specialize in power-related accessories. When IBM purchases its power adapters from these
small companies, it is engaging in B2B marketing.
⊚ true
⊚ false
13) eBay is an example of C2C marketing.
⊚ true
⊚ false
2
,14) In marketing, an exchange is when the buyer and the seller trade things of value to benefit the
other.
⊚ 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) Marcia always stops at the local coffee shop near her house. She uses the drive-through
window on her way to work and meets neighbors there after work. The coffee shop is using
the place element of the marketing mix to influence Marcia’s decision.
⊚ true
⊚ false
17) Supply chain management represents the promotion aspect of the marketing mix.
⊚ true
⊚ false
18) When Microsoft makes innovations compatible with its existing products, it is encouraging
consumers to maintain long-term relationships with the company.
⊚ true
⊚ false
19) Value is what you get for what you give.
⊚ true
⊚ false
20) Mason priced underwater watches and decided on a Timex because it had all the features he
wanted at a low price. Mason was seeking a good value.
⊚ true
⊚ false
3
, 21) Relational orientation refers to the efforts of companies to make a profit on each transaction.
⊚ true
⊚ false
22) When Kim customized M&M candies for her daughter’s graduation party, she was
participating in value cocreation.
⊚ true
⊚ false
23) At the beginning of the 20th century, companies like Ford Motor Company were more
concerned with satisfying customer wants than product innovation.
⊚ true
⊚ false
24) Firms have come to realize that good corporate citizenship through socially responsible
actions should be a priority because it will help their bottom line in the long run.
⊚ true
⊚ false
25) Marketing analytics is one tool marketers can use to collect customer information.
⊚ true
⊚ false
26) Which company activity is identified as the set of institutions, and processes for creating,
capturing, communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large?
A) human resources
B) marketing
C) accounting
D) manufacturing
E) sales
4
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