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M Marketing 6th Edition by Dhruv Grewal - Test Bank
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,M: Marketing, 6e (Grewal)Chapter 1 Overview Of Marketing
1) Marketing is an activity that only large firms with specialized departments can execute.
Answer: FALSE
Explanation: Marketing activities can be performed by organizations of all sizes and also by
individuals.
Difficulty: 1 Easy
Topic: Define Marketing
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
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.
Answer: TRUE
Explanation: 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.
Difficulty: 2 Medium
Topic: Define Marketing
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
3) Understanding the marketplace and especially a consumer's needs and wants, is fundamental
to marketing success.
Answer: TRUE
Explanation: Marketing is about satisfying customer needs and wants, which is fundamental to
marketing success.
Difficulty: 1 Easy
Topic: Define Marketing
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
1
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
,4) In their battle for chocolate lovers, Godiva and Hershey's must divide the population into
different categories of consumers, for example, luxury versus cost-conscious, those looking for a
quick energy boost versus those looking for a gift for a loved one.
Answer: TRUE
Explanation: As Godiva and Hershey's battle for chocolate lovers, they divide the population
into a host of categories, for example, luxury versus cost-conscious consumers, service-oriented
versus self-service consumers, those who purchase chocolates for a quick energy-boosting snack
versus those who purchase it as a reward for a hard day's work or as a gift for a friend or loved
one.
Difficulty: 1 Easy
Topic: Define Marketing
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
5) The four Ps of the marketing mix are product, promotion, planning, and place.
Answer: FALSE
Explanation: The four Ps of the marketing mix are product, price, place, and promotion.
Difficulty: 1 Easy
Topic: The Four Ps
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
6) Without a strong and efficient marketing channel system, merchandise isn't available when
customers want it.
Answer: TRUE
Explanation: Marketing channel management, also known as supply chain management, is the
set of approaches and techniques that firms employ to efficiently and effectively integrate their
suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction (e.g.,
transportation companies) into a seamless value chain in which merchandise is produced and
distributed in the right quantities, to the right locations, and at the right time, while minimizing
systemwide costs and satisfying the service levels required by the customers.
Difficulty: 1 Easy
Topic: Supply Chain Management
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 7) Value is what you get for what you give.
Answer: TRUE
Explanation: Value reflects the relationship of benefits to costs, or what you get for what you
give.
Difficulty: 1 Easy
Topic: Product Value Creation
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
8) In value cocreation, the customer participates in the creation of a good or service, which
provides additional value to the customer.
Answer: TRUE
Explanation: A creative way to provide value to customers is to engage in value cocreation. In
this case, customers can act as collaborators to create the product or service. When clients work
with their investment advisers, they cocreate their investment portfolios; when Nike allows
customers to custom design their sneakers, they are cocreating.
Difficulty: 2 Medium
Topic: Product Value Creation
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Understand
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
9) Communicating value to customers is the primary function of marketing.
Answer: FALSE
Explanation: Marketing is an organizational function and a set of processes for creating,
capturing, communicating, and delivering value to customers and for managing customer
relationships in ways that benefit the organization and its stakeholders.
Difficulty: 2 Medium
Topic: Define Marketing
Learning Objective: 01-01 Define the role of marketing in organizations.
Bloom's: Understand
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
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