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Marketing Strategy, Text and Cases 7th Edition by Ferrell and Michael Hartline | TEST BANK - All Chapters 1-10. $31.38
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Marketing Strategy, Text and Cases 7th Edition by Ferrell and Michael Hartline | TEST BANK - All Chapters 1-10.

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TEST BANK for Marketing Strategy, 7th Edition, O. C. Ferrell, Michael Hartline, ISBN-10: 3, ISBN-13: 5097. All Chapters 1-10Chapter 1: Marketing In Today's Economy Chapter 2: Strat egic Marketing Planning Chapter 3: Collecting And Analyzing Marketing Information Chapter 4: Developing Competitive Ad...

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  • May 17, 2023
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  • test bank for marketing strategy
  • text and cases 7th edition
  • by ferrell o c and michael hartline isbn 13 9781337495097 all chapters 1 10

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,Name: Class: Date:

Chap 01_7e

Indicate whether the statement is true or false.
1. A church sermon preached to a congregation is an example of a product.
a. True
b. False

2. The four Ps of the marketing mix consist of product, positioning, pricing, and promotion.​
a. True
b. False

3. Marketing strategy is inherently product-driven.​
a. True
b. False

4. The Internet has shifted more power to the marketer.​
a. True
b. False

5. The term marketspace describes electronic marketplaces unbound by time or space.​
a. True
b. False

6. The "how" of marketing planning is known as marketing implementation. ​
a. True
b. False

7. Environmental scanning refers to the overall process of collecting and interpreting internal, competitive, and
environmental information. ​
a. True
b. False

8. Market segmentation divides the market into homogenous groups or segments.​
a. True
b. False

9. Competitive advantages are critical because they set the tone of the entire marketing program.
a. True
b. False

Indicate the answer choice that best completes the statement or answers the question.
10. __________ is the curse of mature markets whereby products lack any real means of differentiation and
customers see competing products as offering roughly the same benefits.
a. Specialization b. Commoditization
c. Maturation d. Price devaluation
e. Market homogeneity


Copyright Cengage Learning. Powered by Cognero. Page 1

,Name: Class: Date:

Chap 01_7e

11. In 2005, the American Marketing Association changed the definition of marketing that had stood for 20 years.
The major changes in the definition included a shift from delivering the 4 Ps (product, price, place, promotion) to
delivering __________ and a shift from creating exchanges to creating __________.
a. satisfaction; customer relationships b. value; customer relationships
c. quality; transactions d. value; satisfaction
e. quality; value

12. Which of the following statements about pricing decisions in the marketing program is TRUE?
a. Price is one of two elements of the marketing mix that leads to revenue.
b. Price has a direct connection with customer demand.
c. Pricing is the least manipulated element of the marketing mix.
d. Pricing is the most difficult element of the marketing mix to change.
e. Customers will always equate higher prices with higher quality products.

13. Which of the following type of planning focuses on specific markets or market segments and the development
of marketing programs that will fulfill the needs of customers in those markets​?
a. s​ trategic planning
b. c​ ustomer analysis
c. e​ nvironmental planning
d. t​ actical planning
e. m ​ arketing plan

14. One of the major difficulties of conducting business in today’s economy concerns the unclear legal jurisdiction
surrounding many business transactions. The issue is especially keen for marketers who do business in:
a. international markets. b. domestic, interstate markets.
c. business-to-business markets. d. metamarkets.
e. peer-to-peer transactions.

15. List the elements that make up a marketing program.
a. p​ roduct and target market
b. t​ arget market and marketing mix
c. m ​ arket segment and market plan
d. p​ rice, promotion, place, and product
e. m ​ arketing mix, price, and promotion

16. Although mass media audiences are becoming increasingly fragmented, media fragmentation does have a major
advantage. What is this advantage?
a. It now costs less to reach a mass audience.
b. It is much easier to measure feedback from mass media audiences.
c. It is now easier to reach small, highly targeted audiences.
d. Consumers are now much more receptive to television advertising.
e. Consumers are now highly susceptible to online advertising.


Copyright Cengage Learning. Powered by Cognero. Page 2

, Name: Class: Date:

Chap 01_7e

17. A marketer at General Mills in charge of international expansion wants to determine Kellogg's market share in
Mexico. What type of marketing activity should she apply?
a. T ​ actical planning
b. I​ nternal analysis
c. C ​ ompetitive intelligence
d. E ​ nvironmental scanning
e. S ​ ituation analysis

18. Edmunds.com provides a collection of online services and information pertaining to the automotive market.
Edmunds offers reviews, free pricing reports, discussion boards, and links to a variety of car manufacturers,
dealers, insurance companies, and finance companies. What role does Edmunds.com play in today’s economy?
a. distributor b. marketspace
c. metamediary d. metamarket
e. electronic broker

19. __________ involves the analysis of economic, political, legal, technological, and cultural events and trends that
may affect the future of the organization and its marketing efforts.
a. Competitive intelligence b. Environmental scanning
c. Tactical planning d. Marketing research
e. External analysis

20. Furniture Mart offers services such as financing and home delivery to its customers. What type of utility is
Furniture Mart trying to increase?
a. time utility b. place utility
c. possession utility d. form utility
e. psychological utility

21. What type of planning deals with specific markets or market segments and the development of marketing
programs that will fulfill the needs of customers in those markets?
a. market planning b. strategic planning
c. local planning d. lower-level planning
e. tactical planning

22. In the traditional transactional marketing approach, the ultimate goal of marketing is to:
a. serve customers’ needs and wants.
b. develop long-term customer relationships.
c. create value in the buyer-seller relationship.
d. acquire new customers and complete a large number of exchanges.
e. All of the above are goals of transactional marketing




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