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Test Bank for Marketing: Real People, Real Choices, 10th Edition

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    Marketing: Real People, Real Choices Tenth Edition Michael R. Solomon Greg W. Marshall Elnora W. Stuart Test Bank (Download only) for Marketing : Real People, Real Choices , 10e Revised by: Bonnie Flaherty

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    1 Marketing: Real People, Real Choices, 10e (Solomon) Chapter 1 Welcome to the World of Marketing: Create and Deliver Value 1) A ________ is the ultimate user of a good or service. A) stakeholder B) market C) target market D) marketer E) consumer Answer: E Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 2) ________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exch anging offerings that have value for customers, clients, partners, and society at large. A) Demand satisfaction B) Competitive advantage building C) Marketing D) Total quality management E) Value chain management Answer: C Difficulty: Easy LO: 1.1: E xplain what mark eting is, the marketing mix, what can be marketed and the value of marketing AACSB: Written and oral communication 3) The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers . A) sharing ec onomy B) market position C) value proposition D) marketplace E) marketing mix Answer: E Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing

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    2 4) The four Ps are ________. A) price, pr oduct, place, and promotion B) price, profit, production, and possession C) product, production, possession, and prom otion D) product, promotion, price, and profit E) place, production, process, and profit Answer: A Difficulty: Easy LO: 1.1: Explain w hat marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Written and oral communic ation 5) 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 eve ry 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 produc t's target market. Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can b e marketed and the value of marketing AACSB: Written and oral communication 6) Which of the following is part of the product element of the marketing mix? A) a quality discount B) a store coupon C) a newspaper advertisement D) the packaging E) publicity releases Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 7) A ________ is a good, service, idea, place, or person – whatever is offered for sale in the exchange. A) product B) place C) utility D) benefit E) demand Answer: A Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing

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    3 8) ________ is the assignment of a produc t's value, or the amount the consumer must exchange to receive the offering. A) Promotion B) Price C) Benefit D) Need E) Utility Answer: B Difficulty: Ea sy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value o f marketing 9) The ________ element of the marketing mix informs consumers about products and encourages them to buy these products using forms such as personal selling, advertising, coupons, and publicity. A) production B) place C) price D) distribution E) promotion Answer: E Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: W ritten and oral communication 10) Marketing communication is also referred to as ____ ____. A) production B) selling orientation C) societal marketing D) exchange E) promotion Answer: E Difficulty: Easy LO: 1.1: Explain what marketing is, the mark eting mix, what can be marketed and the value of marketing AACSB: Written and oral co mmunication

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    4 11) For an exchange to occur, ________. A) at least two people or organizations must be willing to make a trade, and each must have something the other wan ts B) there must be one winner and one loser C) someone must make a financial profit D) the item that is exchanged must be a tangible product E) time utility must be created for the purchaser Answer: A Difficulty: Moderate LO: 1.1: Explain what marke ting is, the marketing mi x, what can be marketed and the value of marketing 12) Which element of the marketing mix is most closely associated with a company's channel of distribution? A) production B) place C) price D) profit E) promotion Answer: B D ifficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 13) ________ are intangible products that we pay for and use but never own. A) Consumer goods B) Services C) Industrial goods D) E - commerce products E) Va lue products Answer: B Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 14) ________ are the tangible products that individuals purchase for personal or fam ily use. A) Consumer serv ices B) Consumer goods C) Value propositions D) Utilities E) Industrial goods Answer: B Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing

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    5 15) ________ m arketing is the marketing of goods and services from one organization to another. A) Distributive B) Consumer C) E - commerce D) Business - to - business E) Target Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, wha t can be marketed and the value of marketing 16) Nongovernmental organizations are also known as ________. A) consumer organizations B) public organizations C) private organizations D) not - for - profit organizations E) for - profit organizations Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 17) Marketers first identify consumer needs and then provide products that satisfy those needs. This practice is referred to as ________. A) the stakeholder orientation B) the marketing concept C) total quality management D) collaborative consumption E) the marketing mix Answer: B Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 18) When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________. A) benefit B) demand C) need D) va lue E) utility Answer: C Difficulty: Easy LO: 1.1: Explain what mar keting is, the marketing mix, what can be marketed and the value of marketing

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    6 19) A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way t hat is culturally and socially influenced. A) benefit B) demand C) va lue D) utility E) want Answer: E Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 20) A ________ delivered by a product is the outcome that motivates a customer's buying behavior . A) benefit B) demand C) value D) need E) want Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 21) A customer's desire for a product coupled with the buying powe r or resources to obtain that product is called ________. A) benefit B) demand C) need D) utility E) service Answer: B Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing

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    7 22) To be part of the ________ for a product, consumers must share a common need that can be satisfied by the product and have the resources, willingness, and authority to purchase the product. A) shared economy B) audience C) value proposition D) marketplace E ) market Answer: E Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 23) A glitzy shopping mall, a mail - order catalog, a television shopping network, and an e - commerce website are a ll examples of ________. A) marketing concepts B) value chains C) monopolies D) marketplaces E) strategic business units Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marke ting AACSB: Information technology 24) The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________. A) e - commerce B) virtual exchange of goods C) the attention econom y D) collaborative consumption E) user - generated content Answer: D Difficulty: Easy LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing

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    8 25) All of the following are forms of utility created by market ing processes EXCEPT ________. A) form utility B) place utility C) time utility D) possession utility E) price utility Answer: E Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of mark eting 26) ________ utility is the benefit marketing provides by transforming raw materials into finished products, as when a dress manufacturer combines silk, thread, and a zipper to create a bridesmaid's gown. A) Form B) Place C) Time D) Possession E) Price Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 27) Women who rent their wedding gowns instead of buying them and wearing them only once are taking advantag e of ________ utility. A) form B) place C) time D) possession E) price Answer: C Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing 28) ________ utility is the benefit marke ting provides by allowing the consumer to own, use, and enjoy a product. A) Form B) Place C) Time D) Possession E) Price Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of mar keting

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    9 29) Buyers, sellers, investors, and communit y residents are all considered ________ in a company. A) stakeholders B) shareholders C) consumers D) channel of distribution members E) collaborative consumers Answer: A Difficulty: Easy LO: 1.1: Expl ain what marketing is, the marketing mix, what can be marketed and the value of marketing 30) When Tony rented a loft apartment where he would live for the summer, he acted as a ________. A) consumer B) shareholder C) producer D) marketer E) reta iler Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 31) Chris just landed her dream job but realizes that her college wardrobe is not go ing t o work for her new professional position. In this situation, Chris has a(n) ________. A) benefit B) exchange C) value D) need E) utility Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking

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    10 32) After saving a portion of several paychecks, Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg's want has become a(n) ________. A) nee d B) necessity C) demand D) exchange E) transaction Answe r: C Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 33) Ruth Terry is a realtor. In her ad s, Terry offers the free use of a moving truck to every c ustomer she helps either buy or sell a house. This free use of a moving truck is an example of ________. A) a benefit B) a demand C) business - to - business marketing D) a need E) the rentrepreneur trend Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 34) Which of the following is the best example of a consumer good? A) the riding l awn mower purchased by the landscaping company B) the di sposable diapers purchased by the new mother for her baby C) the paint purchased by the contractor D) the cookies purchased for the daycare center E) the art supplies purchased for the elementary school art center Answer: B Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking

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    11 35) Which of the followin g is the best example of a service? A) the m edical examination Jonathon had yesterday B) the sheet music purchased by the piano teacher C) the software Monica purchased from the website D) the cleaning supplies purchased for the veterinarian's office E) the t - shirt you got for running in a 5K ra ce Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 36) Alex paid for a(n) ________ when he t ook his car to the carwash to be washed and w axed. A) service B) industrial product C) consumer good D) commercial good E) business product Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical th inking 37) Which of the following is an example of a transaction that might occur in business - to - business marketing? A) Maurice buy s a new razor on his way home from work. B) The amateur gardener buys a new wheelbarrow. C) The retail outlet buys athlet ic 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: C Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking

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    12 38) Faruk provides heating and air conditioning equipment for of fice buildings. He sells ________. A) distributive goods B) consumer services C) consumer goods D) industrial goods E) intangible goods Answer: D Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and th e value of marketing AACSB: Analytical thinking 39) Which of the following is an example of a not - for - profit organizatio n that would use marketing principles? A) a fast - food restaurant B) a manufacturer of bicycles C) a software developer D) a theme amusement park E) the local city zoo Answer: E Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing m ix, what can be marketed and the value of marketing AACSB: Analytical thinking 40) A sign manufacturer who uses plastic, metal, and neon tubing to create a motel sign has performed the marketing benefit of creat ing ________ utility. A) form B) place C ) possession D) time E) creation Answer: A Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking

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    13 41) Shane p ulled her car into the gas station just as the fuel gauge dropped below empty. In this example, Shane benefited from the ________ utility offered by the gas station. A) creation B) place C) value D) marketing E) quality Answer: B Difficulty: Moderate LO: 1.1: Explain what marketing is, the m arketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 42) 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 cate red Seth's 12th birthday party. The catering company created both ________ utility when it rent ed her the climbing wall. A) form and place B) place and creation C) possession and price D) time and place E) creation and possession Answer: D Difficult y: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 43) A(n) ________ occurs when Kirin Albers trades Max Lynch three hours of babysitting Max's three - year - old da ughter in exchange for Max fixing the hole in Kirin's porch roof. A) differential benefit B) promotion C) exchange D) collaborative consumption E) virtual trade Answer: C Difficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, wha t can be marketed and the value of marketing AACSB: Analytical thinking

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    14 44) Two teachers purchased art supplies for their classes. One paid $103.45 for eight large boxes of crayons. The other teacher purchased ten identical boxes for $105.55. The second teacher got more for h er money because she took advantage of a quantity discount, a reduced price for buying ten or more boxes. Which element of the marketing mix most directly relates to these purchases? A) production B) profit C) price D) place E) p ossession Answer: C Di fficulty: Moderate LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of marketing AACSB: Application of knowledge 45) Conveniently located vending machines around your college or university campus make it easy for you to buy a soda and a snack between classes. This is an example of the ________ element of the marketing mix. A) production B) place C) price D) profit E) promotion Answer: B Difficulty: Moderate LO: 1.1: Explain what mar keting is, the marketing mix, what can be marketed and the value of marketing AACSB: Analytical thinking 46) Susannah owns a one - bedroom apartment in Manhattan that she posts for shor t - term weekend and summer rentals on airBnB when she plans to be out of town. This is an example of ________. A) not - for - profit marketing B) institutional marketing C) collaborative consumption D) people marketing E) consumer - generated marketing Answer: C Difficulty: Moderate LO: 1.1: Explain what marketing is, the market ing mix, what can be marketed and the value of marketing AACSB: Analytical thinking

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