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

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Marketing: Real People,Real ChoicesTenth EditionMichael R. SolomonGreg W. MarshallElnora W. StuartTest Bank(Download only) forMarketing:Real People, RealChoices,10eRevised by:Bonnie Flaherty

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1Marketing: Real People, Real Choices, 10e(Solomon)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:EDifficulty: EasyLO: 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 offeringsthat have value for customers, clients, partners, and societyat large.A) Demand satisfactionB) Competitive advantage buildingC) MarketingD) Total quality managementE) Value chain managementAnswer: CDifficulty: EasyLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Written and oral communication3) The ________ consists of the tools an organization uses to create a desired response among aset of predefined consumers.A) sharing economyB) market positionC) value propositionD) marketplaceE) marketing mixAnswer: EDifficulty: EasyLO: 1.1:Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing

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24) 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: ADifficulty: EasyLO: 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 leastimportant 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: ADifficulty: ModerateLO: 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 ofthe marketing mix?A) a quality discountB) a store couponC) a newspaper advertisementD)the packagingE) publicity releasesAnswer: DDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the valueofmarketing7) A ________ is a good, service, idea, place, or person–whatever is offered forsale in theexchange.A) productB) placeC) utilityD) benefitE) demandAnswer: ADifficulty: EasyLO: 1.1: Explain what marketing is, the marketingmix, what can be marketed and the value ofmarketing

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38) ________ is the assignment of a product's value, or the amount the consumer must exchangeto receive the offering.A) PromotionB) PriceC) BenefitD) NeedE) UtilityAnswer: BDifficulty: EasyLO: 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 personalselling, advertising,coupons, and publicity.A) productionB) placeC) priceD)distributionE) promotionAnswer: EDifficulty: EasyLO: 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: EDifficulty: EasyLO: 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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411) 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 that is exchanged must be a tangible productE) time utility must be created for the purchaserAnswer: ADifficulty: ModerateLO: 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: BDifficulty: ModerateLO: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: BDifficulty: EasyLO: 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) UtilitiesE) Industrial goodsAnswer: BDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketingmix, what can be marketed and the value ofmarketing

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515) ________ marketing is the marketing of goods and services from one organization toanother.A) DistributiveB) ConsumerC) E-commerceD) Business-to-businessE) TargetAnswer: DDifficulty:ModerateLO: 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: DDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing17) Marketers first identify consumer needs and then provideproducts 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: BDifficulty: EasyLO:1.1: Explain what marketing is, the marketing mix, what can be marketedand 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: CDifficulty: EasyLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing

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619) 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: EDifficulty: EasyLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing20) A ________ deliveredby a product is the outcome that motivates a customer's buyingbehavior.A) benefitB) demandC) valueD) needE) wantAnswer: ADifficulty: ModerateLO: 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: BDifficulty: EasyLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing

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722) Tobe part of the ________ for a product, consumers must share a common need that can besatisfiedby the product and have the resources, willingness, and authority to purchase theproduct.A) shared economyB) audienceC) value propositionD) marketplaceE) marketAnswer: EDifficulty: EasyLO: 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: DDifficulty: ModerateLO: 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 theirbelongings 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: DDifficulty:EasyLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing

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825) All of the following are forms of utility created by marketing processesEXCEPT________.A) form utilityB) place utilityC) time utilityD) possession utilityE) price utilityAnswer: EDifficulty: ModerateLO: 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 rawmaterials intofinished products, as when a dress manufacturer combines silk, thread, and a zipper to create abridesmaid's gown.A) FormB) PlaceC) TimeD) PossessionE) PriceAnswer: ADifficulty: ModerateLO: 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: CDifficulty: ModerateLO: 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: DDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketing

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929) Buyers, sellers, investors, and community residents are all considered ________ in acompany.A) stakeholdersB) shareholdersC) consumersD) channel of distribution membersE) collaborative consumersAnswer: ADifficulty: EasyLO: 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: ADifficulty: ModerateLO: 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: DDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketedandthe value ofmarketingAACSB: Analytical thinking

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1032)After saving a portion of several paychecks, Greg Williams now has the buying power topurchase the computer system he has wanted for the last six months. Greg's want has becomea(n) ________.A) needB) necessityC) demandD) exchangeE) transactionAnswer: CDifficulty: ModerateLO: 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 rentrepreneurtrendAnswer: ADifficulty: ModerateLO: 1.1: Explainwhat 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 elementaryschool art centerAnswer: BDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical thinking

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1135) 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: ADifficulty: ModerateLO: 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: ADifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed andthe 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 tohelp Robyn pass algebra.Answer: CDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what canbe marketed and the value ofmarketingAACSB: Analytical thinking

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1238) Faruk provides heating and air conditioning equipment for office buildings. He sells________.A) distributive goodsB) consumer servicesC) consumer goodsD) industrial goodsE)intangible goodsAnswer: DDifficulty: ModerateLO: 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) a themeamusement parkE) the local city zooAnswer: EDifficulty: ModerateLO: 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: ADifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical thinking

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1341) Shane pulled her car into the gas station just asthe fuel gauge dropped below empty. In thisexample, Shane benefited from the ________ utility offered by the gas station.A) creationB) placeC) valueD) marketingE) qualityAnswer: BDifficulty: ModerateLO: 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: DDifficulty: ModerateLO: 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 forMax fixing the hole in Kirin's porch roof.A) differential benefitB) promotionC) exchangeD) collaborative consumptionE) virtual tradeAnswer: CDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed andthe value ofmarketingAACSB: Analytical thinking

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1444) 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 secondteacher 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: CDifficulty: ModerateLO: 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 universitycampus 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: BDifficulty: ModerateLO: 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 airBnB when she plans to be out oftown. This is an example of________.A) not-for-profit marketingB) institutional marketingC) collaborative consumptionD) people marketingE) consumer-generated marketingAnswer:CDifficulty: ModerateLO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value ofmarketingAACSB: Analytical thinking

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