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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Document preview page 1

Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 1

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Test Bank for Marketing: Real People, Real Choices , 9th Edition

Reinforce your knowledge with Test Bank for Marketing: Real People, Real Choices , 9th Edition, your essential test prep resource.

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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 1 preview image1Marketing: Real People, Real Choices, 9e(Solomon/Marshall/Stuart)Chapter 1Welcome to the World of Marketing: Create and Deliver Value1) A ________ is the ultimate user of a good or service.A) stakeholderB) marketC) target marketD) marketerE) consumerAnswer: EDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing2) ________ is the activity, set of institutions, and processes for creating, communicating,delivering, and exchanging offerings that have value for customers, clients, partners, and societyat large.A) Demand satisfactionB) Competitive advantage buildingC) MarketingD) Total quality managementE) Value chain managementAnswer: CDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication3) ________ consists of the tools an organization uses to create a desired response among a setof predefined consumers.A) Distinctive competencyB) Market positionC) Value propositionD) Differential benefitE) Marketing mixAnswer: EDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 2 preview image
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 3 preview image24) The Four Ps are ________.A) price, product, place, and promotionB) price, profit, production, and possessionC) product, production, possession, and promotionD) product, promotion, price, and profitE) place, production, process, and profitAnswer: ADiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication5) Which of the following is a true statement about the Four Ps of the marketing mix?A) A decision about one of the Ps affects every other marketing-mix decision.B) Price is always the most important of the Four Ps.C) Place is typically the least important of the Four Ps.D) The Four Ps have little effect on a product's market position.E) The Four Ps are used to determine a product's target market.Answer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication6) Which of the following is part of the product element of the marketing mix?A) a quality discountB) a store couponC) a newspaper advertisementD) the packagingE) publicity releasesAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing7) A ________ is a good, service, idea, place, or person—whatever is offered for sale in theexchange.A) productB) placeC) utilityD) benefitE) demandAnswer: ADiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 4 preview image38) ________ is the assignment of a product's value, or the amount the consumer must exchangeto receive the offering.A) PromotionB) PriceC) BenefitD) NeedE) UtilityAnswer: BDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing9) The ________ element of the marketing mix informs consumers about products andencourages them to buy these products using forms such as personal selling, advertising,coupons, and publicity.A) productionB) placeC) priceD) distributionE) promotionAnswer: EDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication10) Marketing communication is also referred to as ________.A) productionB) selling orientationC) societal marketingD) exchangeE) promotionAnswer: EDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 5 preview image411) For an exchange to occur, ________.A) at least two people or organizations must be willing to make a trade, and each must havesomething the other wantsB) there must be one winner and one loserC) someone must make a financial profitD) the item must be tangibleE) time utility must be createdAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing12) Which element of the marketing mix is most closely associated with a company's channel ofdistribution?A) productionB) placeC) priceD) profitE) promotionAnswer: BDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing13) ________ are intangible products that we pay for and use but never own.A) Consumer goodsB) ServicesC) Industrial goodsD) E-commerce productsE) Value productsAnswer: BDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing14) ________ are the tangible products that individuals purchase for personal or family use.A) Consumer servicesB) Consumer goodsC) Value propositionsD) Branded contentE) Industrial goodsAnswer: BDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 6 preview image515) ________ marketing is the marketing of goods and services from one organization toanother.A) DistributiveB) ConsumerC) CustomerD) Business-to-businessE) TargetAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing16) Nongovernmental organizations are also known as ________.A) consumer organizationsB) public organizationsC) private organizationsD) not-for-profit organizationsE) for-profit organizationsAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing17) Marketers first identify consumer needs and then provide products that satisfy those needs.This practice is referred to as ________.A) the stakeholder orientationB) the marketing conceptC) total quality managementD) collaborative consumptionE) the marketing mixAnswer: BDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing18) When a gap exists between a consumer's actual state and some ideal or desired state, theconsumer has a ________.A) benefitB) demandC) needD) valueE) utilityAnswer: CDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 7 preview image619) A ________ is a desire for a particular product a consumer uses to satisfy a need in a specificway that is culturally and socially influenced.A) benefitB) demandC) valueD) utilityE) wantAnswer: EDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing20) A ________ delivered by a product is the outcome that motivates a customer's buyingbehavior.A) benefitB) demandC) valueD) needE) wantAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing21) A customer's desire for a product coupled with the buying power or resources to obtain thatproduct is called ________.A) benefitB) demandC) needD) utilityE) serviceAnswer: BDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 8 preview image722) To be part of the ________ for a product, consumers must share a common need that can besatisfied by the product and have the resources, willingness, and authority to purchase theproduct.A) demand centerB) audienceC) value propositionD) marketplaceE) marketAnswer: EDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing23) A glitzy shopping mall, a mail-order catalog, a television shopping network, and an e-commerce website are all examples of ________.A) marketing conceptsB) value chainsC) monopoliesD) marketplacesE) strategic business unitsAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Information Technology24) The trend of consumers renting out their belongings when they are not in use to otherconsumers who need them for a limited time is called ________.A) e-commerceB) virtual exchange of goodsC) the attention economyD) collaborative consumptionE) user-generated contentAnswer: DDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 9 preview image825) All of the following are forms of utility created by marketing processes EXCEPT ________.A) form utilityB) place utilityC) time utilityD) possession utilityE) price utilityAnswer: EDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing26) ________ utility is the benefit marketing provides by transforming raw materials intofinished products, as when a dress manufacturer combines silk, thread, and a zipper to create abridesmaid's gown.A) FormB) PlaceC) TimeD) PossessionE) PriceAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing27) Women who rent their wedding gowns instead of buying them and wearing them only onceare taking advantage of ________ utility.A) formB) placeC) timeD) possessionE) priceAnswer: CDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing28) ________ utility is the benefit marketing provides by allowing the consumer to own, use,and enjoy a product.A) FormB) PlaceC) TimeD) PossessionE) PriceAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 10 preview image929) Buyers, sellers, investors, and community residents are all considered ________ in acompany.A) stakeholdersB) shareholdersC) consumersD) channel of distribution membersE) collaborative consumersAnswer: ADiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing30) When Tony rented a loft apartment where he would live for the summer, he acted as a________.A) consumerB) shareholderC) producerD) marketerE) retailerAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking31) Chris just landed her dream job but realizes that her college wardrobe is not going to workfor her new professional position. In this situation, Chris has a(n) ________.A) benefitB) exchangeC) valueD) needE) utilityAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 11 preview image1032) Greg Williams now has the buying power to purchase the computer system he has wanted forthe last six months. Greg's want has become a(n) ________.A) needB) necessityC) demandD) exchangeE) transactionAnswer: CDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking33) Ruth Terry is a realtor. In her ads, Terry offers the free use of a moving truck to everycustomer she helps either buy or sell a house. This free use of a moving truck is an example of________.A) a benefitB) a demandC) business-to-business marketingD) a needE) the rentrepreneur trendAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking34) Which of the following is the best example of a consumer good?A) the riding lawn mower purchased by the landscaping companyB) the disposable diapers purchased by the new mother for her babyC) the paint purchased by the contractorD) the cookies purchased for the daycare centerE) the art supplies purchased for the elementary school art centerAnswer: BDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 12 preview image1135) Which of the following is the best example of a service?A) the medical examination Jonathon had yesterdayB) the sheet music purchased by the piano teacherC) the software Monica purchased from the websiteD) the cleaning supplies purchased for the veterinarian's officeE) the t-shirt you got for running in a 5K raceAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking36) Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.A) serviceB) industrial productC) consumer goodD) commercial goodE) business productAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking37) Which of the following is an example of a transaction that might occur in business-to-business marketing?A) Maurice buys a new razor on his way home from work.B) The amateur gardener buys a new wheelbarrow.C) The retail outlet buys athletic shoes to sell in its store.D) The professional chef bakes a birthday cake for her son.E) Robyn's mother hires a math tutor to help Robyn pass algebra.Answer: CDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 13 preview image1238) Jack provides heating and air conditioning equipment for office buildings. He sells________.A) distributive goodsB) consumer servicesC) consumer goodsD) industrial goodsE) intangible goodsAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking39) Which of the following is an example of a not-for-profit organization that would usemarketing principles?A) a fast-food restaurantB) a manufacturer of bicyclesC) a software developerD) Six Flags Amusement ParkE) the Bronx ZooAnswer: EDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking40) A sign manufacturer who uses plastic, metal, and neon tubing to create a motel sign hasperformed the marketing benefit of creating ________ utility.A) formB) placeC) possessionD) timeE) creationAnswer: ADiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 14 preview image1341) Shane pulled her car into the gas station just as the fuel gauge dropped below empty. In thisexample, Shane benefited from the ________ utility offered by the gas station.A) creationB) placeC) valueD) marketingE) qualityAnswer: BDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking42) Seth's mother didn't want to build a climbing wall as a permanent feature in her backyard,but it was certainly convenient to rent one from the company that catered Seth's 12th birthdayparty. The catering company created both ________ utility when it rented her the climbing wall.A) form and placeB) place and creationC) possession and priceD) time and placeE) creation and possessionAnswer: DDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking43) A(n) ________ occurs when Kirin Albers trades Max Lynch three hours of babysitting Max'sthree-year-old daughter in exchange for Max fixing the hole in his porch roofA) differential benefitB) promotionC) exchangeD) collaborative consumptionE) virtual tradeAnswer: CDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 15 preview image1444) Two teachers purchased art supplies for their classes. One paid $103.45 for eight large boxesof crayons. The other teacher purchased ten identical boxes for $105.55. The second teacher gotmore for her money because she took advantage of a quantity discount, a reduced price forbuying ten or more boxes. Which element of the marketing mix most directly relates to thesepurchases?A) productionB) profitC) priceD) placeE) possessionAnswer: CDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge45) Conveniently located vending machines around your college or university campus make iteasy for you to buy a soda and a snack between classes. This is an example of the ________element of the marketing mix.A) productionB) placeC) priceD) profitE) promotionAnswer: BDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking46) Susannah owns a one-bedroom apartment in Manhattan that she posts for short-termweekend and summer rentals on Craigslist when she plans to be out of town. This is an exampleof ________.A) not-for-profit marketingB) institutional marketingC) collaborative consumptionD) people marketingE) consumer-generated marketingAnswer: CDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 16 preview image1547) The principles of marketing can apply to people, just as they apply to goods and services.Answer: TRUEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing48) The term "marketing" is synonymous with the term "advertising."Answer: FALSEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication49) Marketers define a need as the difference between a consumer's actual state and some idealor desired state.Answer: TRUEDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing50) Although having something to eat or drink may be a want, the desire for a specific brandname is referred to as a need.Answer: FALSEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing51) Very little of the online action in e-commerce is in business-to-business marketing.Answer: FALSEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Information Technology52) Many not-for-profit organizations use marketing principles.Answer: TRUEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing53) The marketing mix is the marketer's strategic toolbox.Answer: TRUEDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 17 preview image1654) Business-to-business marketing represents greater total sales than business-to-consumermarketing.Answer: TRUEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing55) The elements of the marketing mix are the Four Ps.Answer: TRUEDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing56) The pricing element of the marketing mix always involves monetary exchanges.Answer: FALSEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing57) The promotion element of the marketing mix includes the design of the product.Answer: FALSEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and Oral Communication58) Within the context of the marketing mix, place refers to the availability of the product to thecustomer at the desired time and location.Answer: TRUEDiff: 1LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing59) Automobiles, haircuts, tutoring, and lighting fixtures are all examples of consumer goods.Answer: FALSEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking60) Ria, a college sophomore, writes a daily blog that typically has over 50,000 readers eachweek. Ria could be described as a microcelebrity.Answer: TRUEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 18 preview image1761) An entertainer such as Garth Brooks, a television show, and a magazine subscription are allexamples of products.Answer: TRUEDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking62) Discuss how the principles of marketing can be applied to people.Answer: The principles of marketing apply to people in the same way that they apply toproducts and services. People market, or "sell," themselves all of the time, whether they areapplying for a job, hoping to gain a promotion, or participating in online dating. People packageand promote themselves through the clothes and accessories they choose, the cars they drive, themusic they listen to, the books they read, and much more.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking63) How would an ice cream vendor create the four types of utility?Answer: The ice cream vendor would create form utility by combining ingredients to make amilkshake or a sundae. Place utility would mean the ice cream is available where the customerwants it. Time utility would mean the ice cream is available when the customer wants it.Possession utility refers to the enjoyment consumers have eating the ice cream.Diff: 3LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge64) What does the phrase "exchange relationship" mean in relation to marketing?Answer: An exchange occurs when something is obtained for something else in return. Thebuyer receives an object, service, or idea that satisfies a need, and the seller receives somethingshe feels is of equivalent value. For an exchange to occur, at least two people or organizationsmust be willing to make a trade, and each must have something the other wants. Both partiesmust agree on the value of the exchange and how it will be carried out. Each party also must befree to accept or reject the other's terms for the exchange. An exchange is at the heart of everymarketing act.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 19 preview image1865) What is the difference between consumer goods and consumer services? Give an example ofeach.Answer: Consumer goods are the tangible products that individual consumers purchase forpersonal or family use. Consumer services are intangible products that consumers pay for anduse but never own. Examples will vary, but should reflect these definitions.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge66) Identify the Four Ps in the following description: Rosa Alvarez markets 23 different varietiesof salsa in 8-ounce and 12-ounce bottles at supermarkets in the southwestern United States. The8-ounce bottle sells for $5.95, and the larger size sells for $7.95. Periodically, she sets up a tablein one of the marketplaces that carries her salsa brand and offers customers a sample. Sherecently received considerable publicity for being the "Hispanic Entrepreneur of the Year."Answer: The Four Ps are product, price, place, and promotion.Product: 23 different varieties of salsa in 8-ounce and 12-ounce bottlesPrice: $5.95 for smaller size and $7.95 for larger sizePlace: supermarkets in southwestern United StatesPromotion: sampling and publicityDiff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge67) Provide a brief explanation of what marketing is.Answer: Marketing is the activity, set of institutions, and processes for creating, communicating,delivering, and exchanging offerings that have value for customers, clients, partners, and societyat large.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking68) Select one real company located in your home state. Identify at least four different types ofstakeholders in this company.Answer: Each student will present different information in responding to this question.Stakeholders should include the company's customers, the company's employees, investors in thecompany, and residents of the community.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 20 preview image1969) Can a consumer of a product be a stakeholder in the company that markets the product?Briefly explain your answer.Answer: Yes. A consumer is one type of stakeholder. A stakeholder can be a buyer, seller, orinvestor in a company; a community resident; or a citizen of the nation where the company'sgoods or services are made or sold. A consumer is the ultimate user of a good or service.Therefore, a consumer could be a stakeholder who is also the ultimate consumer using theproduct.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge70) Briefly describe the collaborative consumption trend.Answer: In a trend called collaborative consumption, consumers become "rentrepreneurs" byrenting out their belongings–tools, cars, homes, etc.–when they are not using them. This appealsto many consumers, particularly younger consumers, who would prefer to rent products ratherthan purchase and own them.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical Thinking71) Give three examples of modern marketplaces.Answer: Answers will vary, but should reflect the broad range of marketplaces, from stand-alone retailers and shopping malls to mail-order catalogs and websites.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge72) Explain the concept of business-to-business marketing and give an example of a business-to-business transaction.Answer: Business-to-business marketing is the marketing of goods and services from oneorganization to another. Examples will vary, but should reflect this definition.Diff: 2LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Application of Knowledge
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 21 preview image2073) In which kind of market would a production orientation be most successful?A) a buyer's market in which supply exceeds demandB) a market in which there are more sellers than buyersC) a seller's market in which demand is greater than supplyD) a market that sells only intangible productsE) an e-commerce marketAnswer: CDiff: 2LO: 1.2: Explain the evolution of the marketing concept74) Companies that have a ________ orientation tend to be more successful at making one-timesales than at building repeat business.A) consumerB) marketingC) sellingD) societalE) relationshipAnswer: CDiff: 2LO: 1.2: Explain the evolution of the marketing concept75) A ________ orientation is a management philosophy that focuses on ways to satisfycustomers' needs and wants.A) consumerB) promotionC) sellingD) productionE) qualityAnswer: ADiff: 1LO: 1.2: Explain the evolution of the marketing concept76) The total quality management (TQM) philosophy involves all employees in ________.A) customer relationship managementB) continuous product quality improvementC) market positioningD) creating sustainabilityE) increasing the lifetime value of customersAnswer: BDiff: 1LO: 1.2: Explain the evolution of the marketing concept
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 22 preview image2177) In general, companies that focus on a triple bottom line are most likely to place a priority onwhich of the following?A) sustainabilityB) the production orientationC) the selling orientationD) not-for-profit marketingE) collaborative consumptionAnswer: ADiff: 3LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning78) Which of the following lists the three components of the triple bottom line orientation?A) the financial bottom line, the social bottom line, and the environmental bottom lineB) the financial bottom line, the social bottom line, and the political bottom lineC) the financial bottom line, the cultural bottom line, and the business bottom lineD) the value bottom line, the service bottom line, and the business bottom lineE) the product bottom line, the service bottom line, and the relationship bottom lineAnswer: ADiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning79) ________ maintains that marketers must satisfy customers' needs in ways that also benefitsociety and are profitable to the firm.A) Value propositioningB) Collaborative consumptionC) The societal marketing conceptD) A sales orientationE) Green marketingAnswer: CDiff: 1LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning80) A company that focuses on ________ is concerned with meeting present consumer needswithout compromising the ability of future generations to meet their needs.A) the selling orientationB) the production orientationC) total quality managementD) sustainabilityE) return on investmentAnswer: DDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 23 preview image2281) Which of the following refers to marketing strategies that support environmental stewardshipby establishing an environmentally founded differential benefit in the minds of consumers?A) collaborative consumptionB) green marketingC) triple-bottom-line orientationD) societal marketingE) corporate citizenshipAnswer: BDiff: 1LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning82) The direct financial impact of a firm's expenditure on marketing activities is called the________.A) value chainB) value propositionC) differential benefitD) return on marketing investment (ROMI)E) utility functionAnswer: DDiff: 1LO: 1.2: Explain the evolution of the marketing concept83) Which of the following is LEAST likely to be of growing importance in marketing in thenear future?A) mobile marketingB) corporate citizenshipC) big dataD) a selling orientationE) user-generated contentAnswer: DDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Information Technology84) Interacting with consumers via portable technology such as smart phones, tablets, andwearable screens is referred to as ________.A) mobile marketingB) social marketingC) societal marketingD) user-generated marketingE) branded marketingAnswer: ADiff: 1LO: 1.2: Explain the evolution of the marketing conceptAACSB: Information Technology
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 24 preview image2385) A flour producer that identifies its mission as "the milling of fine flour in the most efficientmanner possible" most likely has a ________ orientation.A) customerB) marketingC) sellingD) productionE) new eraAnswer: DDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Analytical Thinking86) Jolene's firm markets preplanning services for a mortician. She finds that most of her targetmarket wants to avoid discussing future funeral needs, so she must somehow first get theirattention. Jolene's firm most likely uses the ________.A) production orientationB) sustainability conceptC) selling orientationD) consumer orientationE) societal marketing conceptAnswer: CDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Analytical Thinking87) IBM manager Celia Moore coordinates IBM's long-standing "Reinventing Education"program that involves intensive research into how educational institutions can use the fruits ofnew technologies to transform what they do. In the process, the program is actually helping toshape a market of significant interest to IBM. "We see the program very much as an investment,rather than handing out money," says Moore. The existence of this program indicates that IBMhas a(n) ________ orientation.A) environmentalB) financial bottom lineC) sellingD) productionE) triple-bottom-lineAnswer: EDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Analytical Thinking88) Today, it's most likely that companies selling unsought goods will use a selling orientation.Answer: TRUEDiff: 2LO: 1.2: Explain the evolution of the marketing concept
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 25 preview image2489) Green marketing and sustainability are interchangeable terms describing the same concept.Answer: FALSEDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning90) The consumer orientation maintains that marketers must satisfy customers' needs in waysthat also benefit society.Answer: FALSEDiff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning91) The acronym ROI stands for rely on instinct.Answer: FALSEDiff: 1LO: 1.2: Explain the evolution of the marketing concept92) Explain why and how a company would adopt a consumer orientation.Answer: A company might adopt a consumer orientation to better identify and satisfy the needsand wants of customers. In the competitive marketplace of today, a company has to go beyondthe selling and production orientations and consider the customer's desires. Following aconsumer orientation, marketers would conduct research to understand the needs of differentcustomers, tailor products to the needs of these various groups, and design marketing messagesto speak to the needs of those customers.Diff: 3LO: 1.2: Explain the evolution of the marketing conceptAACSB: Application of Knowledge93) Explain the concept of corporate citizenship and why it is important for companies today.Answer: Corporate citizenship, also called corporate social responsibility, refers to a company'sresponsibility to the community in which it operates and to society in general. This concept ofdoing well by doing good is of growing importance, and is likely to continue to grow inimportance, as more and more consumers reward companies who do "good" and punishing thosewho are found to be irresponsible.Diff: 2LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning94) Explain why it is often difficult to measure the value of marketing activities.Answer: Marketing objectives are sometimes stated in vague terms, such as "increase productawareness." This lack of specificity in objectives makes it difficult to measure the impact ofmarketing.Diff: 3LO: 1.2: Explain the evolution of the marketing conceptAACSB: Application of Knowledge
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 26 preview image2595) Who are growth hackers, and why might their work be controversial?Answer: Growth hackers are industry experts who work on apps and sites to better hookconsumers into spending more time on the app or site. This may be controversial because of thegrowing trend of young children, teens, and adults becoming screen addicts, sometimesnegatively affecting their physical and mental health.Diff: 3LO: 1.2: Explain the evolution of the marketing conceptAACSB: Ethical Understanding and Reasoning96) A ________ is a marketplace offering that fairly and accurately sums up the value that willbe realized if the good or service is purchased.A) product positionB) market segmentC) mass marketD) value propositionE) target marketAnswer: DDiff: 1LO: 1.3: Understand value from the perspectives of customers, producers, and society97) The ratio of benefits to costs is one way to think of ________.A) sustainabilityB) profitsC) valueD) competitive advantageE) distinctive competencyAnswer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society98) When companies calculate the lifetime value of a customer they look at ________.A) how much profit they expect to make from a particular customer, including each and everypurchase she will make from them now and in the futureB) the positive word of mouth about the product that the customer can spread among her family,friends, and acquaintancesC) the lifetime expectancy of the product the customer purchasedD) the age of the customer to see whether she is likely to live long enough to utilize the productbeing soldE) the career path of the customer to see if she may move to a different geographic area and nolonger purchase from the companyAnswer: ADiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 27 preview image2699) A firm's capability that is superior to that of its competition is referred to as a(n) ________.A) distinctive competencyB) added valueC) value propositionD) value chainE) social benefitAnswer: ADiff: 1LO: 1.3: Understand value from the perspectives of customers, producers, and society100) The second step in developing a competitive advantage is to turn a distinctive competencyinto a ________ that is important to customers.A) target marketB) serviceC) marketing mixD) market positionE) differential benefitAnswer: EDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society101) A(n) ________ provides reasons for customers to pay a premium for a firm's products andexhibit a strong brand preference.A) exchangeB) differential benefitC) industrial goodD) value chainE) customer lifetime valueAnswer: BDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society102) A ________ is a series of activities involved in designing, producing, marketing, delivering,and supporting any product.A) value propositionB) production orientationC) value chainD) marketing conceptE) market positionAnswer: CDiff: 1LO: 1.3: Understand value from the perspectives of customers, producers, and society
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 28 preview image27103) In addition to marketing activities, the ________ includes business functions such as humanresource management and technology development.A) value chainB) marketing mixC) utility functionD) customer relationship management processE) market positionAnswer: ADiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society104) The main activities of value chain members include all of the following EXCEPT________.A) bringing in materials to make the productB) converting the materials into the final productC) providing unbiased information about the product to consumersD) shipping out the final productE) servicing the product after purchaseAnswer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society105) The value chain activity of ________ refers to converting materials into a final product forconsumers.A) inbound logisticsB) outbound logisticsC) operationsD) marketingE) serviceAnswer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society106) The phenomenon of ________ includes consumers creating their own ads and buying andselling products on eBay.A) production orientationB) the triple-bottom-line orientationC) consumer-generated valueD) socially responsible marketingE) the marketing conceptAnswer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Information Technology
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 29 preview image28107) Social networking is an integral part of which of the following?A) the triple-bottom-line orientationB) lifetime value of a customerC) the value chainD) Web 2.0E) Web 1.0Answer: DDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Information Technology108) Which of the following is true of Web 2.0?A) It categorized entries according to a strict taxonomy.B) It offered two-way communication between marketers and consumers.C) It was based on the open source model.D) It was based on the wisdom of crowds model.E) It improved as the number of users decreased.Answer: BDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Information Technology109) Which of the following is NOT characteristic of Web 3.0?A) Consumers create value through social media.B) Web participation is a necessity for brands.C) Websites are created to accomplish one specific function.D) Marketers can track consumers' browser behavior.E) Consumers and marketers can have real-time instant communication.Answer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Information Technology110) According to the theory of the wisdom of crowds, under the right circumstances ________.A) a mass market approach is favorable to a target market approachB) a target market approach is favorable to a mass market approachC) groups are smarter than the smartest people in themD) companies can make money by giving their products away for freeE) consumers can generate valueAnswer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 30 preview image29111) ________ is a network of servers, all having different functions, providing an almostinfinite amount of storage space.A) A social networking platformB) The CloudC) The value chainD) WikipediaE) The virtual marketplaceAnswer: BDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Information Technology112) Alcoholism and cigarette smoking are both examples of ________.A) anticonsumption behaviorsB) "bait-and-switch" behaviorsC) consumer addictionsD) shrinkageE) consumed consumer behaviorsAnswer: CDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Ethical Understanding and Reasoning113) Which of the following is the industry term for inventory and cash losses from shopliftingand employee theft?A) bait-and-switchB) anticonsumptionC) demarketingD) shrinkageE) lifetime cost of a customerAnswer: DDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Ethical Understanding and Reasoning114) Product tampering and spray-painting graffiti on buildings are both examples of ________.A) demarketingB) exploitative consumptionC) addictive consumptionD) shrinkageE) anticonsumptionAnswer: EDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Ethical Understanding and Reasoning
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Test Bank for Marketing: Real People, Real Choices , 9th Edition - Page 31 preview image30115) A new shampoo advertisement on television identifies all of the wonderful benefits theconsumer will enjoy when using one company's shampoo as opposed to another company'sshampoo. What is this company seeking to convey in this television commercial?A) the product's time utilityB) the product's distinctive competencyC) the company's production orientationD) the company's marketing segmentation processE) the product's differential benefitsAnswer: EDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Analytical Thinking116) Kao Corp., which makes Ban deodorant, invited teenage girls to create an ad that wouldencourage other girls to buy the product. This program is an example of ________.A) the wisdom of crowdsB) the production conceptC) the selling orientationD) open-source modelingE) consumer-generated contentAnswer: EDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Analytical Thinking117) Terrible Tees is an online t-shirt company that invites consumers to enter their t-shirtdesigns in a monthly contest. All visitors to the site are invited to vote on their favorite design,and at the end of the month, the company produces and takes orders for the t-shirt design withthe most votes. This is an example of ________.A) the wisdom of crowdsB) the production conceptC) the selling orientationD) a folksonomyE) a brandfestAnswer: ADiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and societyAACSB: Analytical Thinking118) To calculate lifetime value, a company would estimate the amount of money a personwould spend with the company over a lifetime and then subtract what it will cost the company tomaintain this relationship.Answer: TRUEDiff: 2LO: 1.3: Understand value from the perspectives of customers, producers, and society
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Marketing: Real People, Real Choice...

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