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TEST BANK FOR

Marketing Management 4th Edition Mark Johnston Greg Marshall

Chapter 1

Student name:

TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.1) A commonly held misconception about marketing is that it is all about advertising a nd selling.1) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > TF Qu. 01 A commonly held misconception about marketin...

2) Marketing is relevant only to people in the organization who work directly in the marketi ng department.2) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 02 Marketing is relevant only to people in the ...

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3) The American Marketing Association defines marketing as “the activity, set of institution s, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” 3) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Topic : Marketing andoiMarketing Management Define

d Bloom's : Remember

Difficulty : 1 Easy

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapteroi01 Test Bank > TF Qu. 03 The American Marketing Association defines m...4) Peter Drucker stated that since it is the customer who defines value, the business enterpri

se has only two business functions: marketing and innovation.

4) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Remember

Difficulty : 1 Easy

Topic : The Concept of Customer Value

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > TF Qu. 04 Peter Drucker stated that since it is the cu...5) Sustainability refers to business practices that prolong the life cycle of a product.5) ⊚ true ⊚ false

Question Details

Accessibility : Keyboard Navigation Bl

oom's : Understand

Difficulty : 2 Medium

Topic : Marketing and Marketing Management Defined

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con AACSB : Ethics

Gradable : automatic

Source : Chapteroi01 Test Bank >oiTF Qu. 05 Sustainability refers to business practices ...Version 1 2

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6) Firms that are stuck in a production orientation mentality likely will have great difficult y competing successfully for customers.6) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 06 Firms that are stuck in a production orienta...\hen Henry Ford said, “People can have the Model T in any color— so long that it’s black,” he was reflecting a sales orientation.6) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 07 When Henry Ford said, “People can have...7) Don Peppers and Martha Rogers popularized the term one-to- one marketing. Some firms come close to one-to- one marketing by combining flexible manufacturing with flexible marketing to enhanc e customer choices.7) ⊚ true ⊚ false

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Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank >oiTF Qu. 08 Don Peppers and Martha Rogers popularized th...

8) Fred Wiersema’s bookThe New Market Leaders states that marketers will continue to ha ve more power than customers in both B2B and B2C markets.8) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Bloom's : Remember

Difficulty : 1 Easy

Topic : Marketing Trends

Gradable : automatic

Source : Chapter 01 Test Bank >oiTF Qu. 09 Fred Wiersema’s book The New Market Le...

9) In the current business environment, firms have learned to be open about products an d services with consumers who have endless sources of information, including blogs, chat rooms, and independent websites.9) ⊚ true ⊚ false

Question Details

Accessibility : Keyboard Navigation Bl

oom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

AACSB : Technology Gr

adable : automatic

Source : Chapteroi01 Test Bank > TF Qu. 10 In the current business environment, firms h...Version 1 4

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10) Customer orientation, a component of market orientation, places the customer at the core of all aspects of the enterprise.10) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing Trends

Gradable : automatic

Source : Chapter 01 Test Bank >oiTF Qu. 11 Customer orientation, a component of market ...

11) Direct-to- consumer marketing by pharmaceutical companies and the vast amount of health informa tion available to patients on websites has consumers ready to self-diagnose and self- prescribe.11) ⊚ true ⊚ false

Question Details

Accessibility : Keyboard Navigation Bl

oom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key changeoidrivers on the future of marketing. AACSB : Communica tion

Topic : Marketing Trends

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 12 Direct-to-consumer marketing by pharmaceutic...

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12) Gen Y consumers tend to value in- person relationships with marketers like State Farm Insurance in exactly the same w ay as the prior generations.12) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key changeoidrivers on the future of marketing. Bloom's : Remember

Difficulty : 1 Easy

Topic : Marketing Trends

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 13 Gen Y consumers tend to value in-person rela...

13) In contrast to Marketing (Big M), marketing (little m) serves the firm and its stakeholders at a functional or operational level.13) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > TF Qu. 14 In contrast to Marketing (Big M), marketing ...

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14) Marketing (Big M) refers to the strategic, long-term, firm- level commitment to investing in marketing.

⊚ true ⊚ false

14)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > TF Qu. 15 Marketing (Big M) refers to the strategic, l...

15) For successful Marketing (Big M), firms need to align all internal organizational process es and systems around the customer.15) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key changeoidrivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > TF Qu. 16 For successful Marketing (Big M), firms need...

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16) Strategic marketing refers to the idea that firms should direct energy and resources into establishing a learning relationship with each customer and connect the learned knowledg e with the firm’s production and service capabilities.16) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 17 Strategic marketing refers to the idea that ...

17) Practicing marketers tend to pitch marketing internally as an expense, not an investment in the future success of the organization.17) ⊚ true ⊚ false

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Ret urn on Investment

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 18 Practicing marketers tend to pitch marketing...

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18) If aspects of marketing can’t be measured, they can still be manage d.

⊚ true ⊚ false

18)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Me trics

Gradable : automatic

Source : Chapter 01 Test Bank > TF Qu. 19 If aspects of marketing can’t be measu...

MULTIPLE CHOICE -

Choose the one alternative that best completes the statement or answers the question.19) Of all the business fields, is generally the most visible to people outside th e organization.19)

• financial management
• accounting
• marketing
• information technology
• operations management

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 20 Of all the business fields, is gene...

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20) Marketing often doesn’t get the “respect” it deserves as a professional field of stud y, primarily because 20)

• compared to other business functions, it has had few useful metrics to measure i

ts performance impact.

• people generally don’t understand what marketing is or what it does.
• marketing is all about the emotion and less about facts.
• marketing positions tend to pay less than other business functions.
• it fails to impact the bottom line of the company and isn’t factored into executi

ve decisions.

Question Details

Accessibility : Keyboard Navigation Bl

oom's : Understand

Difficulty : 2 Medium A

ACSB : Communication

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 21 Marketing often doesn’t get the ...

21) Which statement about marketing is true?21)

• Unlike most other key areas of business, marketing as a field is not visible by nature.
• Marketing departments “own” an organization’s marketing initiative.
• Most aspects of marketing take place behind the curtain of an organization, out of t

he public’s sight.

• Marketing is all about advertising and selling.
• Marketing is no more inherently unethical than other business areas.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 22 Which statement about marketing is true?

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22) Which area of business is highly public and readily visible outside the confines of t he internal business operation?22)

• marketing
• finance
• manufacturing
• operations management
• human resource management

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 23 Which area of business is highly public and ...

23) A misconception about marketing is that it is

• relevant to everyone.
• no more inherently unethical than other business areas

.

• all about selling.
• highly visible by nature.
• highly public.

23)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 24 A misconception about marketing is that it i...

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24) Peter Drucker, the father of modern management, stated that the only purpose of an organization is to 24)

• create products.
• make products affordable and accessible to the majority of the public.
• improve the quality of life for all people.
• create a customer.
• make a profit.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Topic : Marketing and Marketing Management Define

d Bloom's : Remember

Difficulty : 1 Easy

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 25 Peter Drucker, the father of modern manageme...

25) Peter Drucker, the father of modern management, believed that marketin g

• should be a separate function within the business.
• is the business as seen from an internal point of view.
• is the whole business as seen from the customer’s point of view.
• is not the central dimension of the entire business.
• should be considered just as a “department” in an organization.

25)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Topic : Marketing andoiMarketing Management Define

d Bloom's : Remember

Difficulty : 1 Easy

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 26 Peter Drucker, the father of modern manageme...

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26) is the activity, set of institutions, and processes for creating, communicating , delivering, and exchanging offerings that have value for customers, clients, partners, a nd society at large.26)

• Accounting
• Marketing
• Manufacturing
• Finance
• Economics

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Topic : Marketing and Marketing Management Define

d Bloom's : Remember

Difficulty : 1 Easy

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 27 is the activity, set of institution...

27) Purpose-driven marketing, or pro-social marketing, as practiced by the well- known Tom’s shoe company,

• is a least preferred marketing strategy.
• is a for-profit part of the business.
• focuses primarily on increasing productivity.
• engages consumers in a meaningful way.
• has no impact on consumers who care about social issues.

27)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Topic : Socially Re sponsible Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 28 Purpose-driven marketing, or pro-social mark...

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28) From a customer’s perspective, what is defined as a ratio of the bundle of benefits a custom er receives from an offering, compared to the costs incurred by the customer in acquiring t hat bundle of benefits?28)

• exchange
• strategy
• sustainability
• value
• power

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Remember

Difficulty : 1 Easy

Topic : The Concept of Customer Value

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 29 From a customer’s perspective, what is...

29) is a central tenet of marketing in which a person gives up something of value to them for something else they desire to have.29)

• Power
• Sustainability
• Sales orientation
• Customization
• Exchange

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Topic : The Concept of Customer Value

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 30 is a central tenet of marketing in ...

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30) Bridgit loved her old car, but she decided it was time for a new one. She went to the dea lership and picked one out, and paid for it with her trade- in and cash. This is an example of 30)

• purpose-driven marketing.
• an exchange.
• a production orientation.
• product differentiation.
• one-to-one marketing.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

AACSB : Knowledge Application Bloo

m's : Apply

Topic : Marketing and Marketing Management Defined

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automatic Source : Chapteroi01 Test Bank > MC Qu. 31 Bridgit loved her old car, but she decided i...

31) A medieval knight could not go to the armor maker and pick out a size 44 long suit of ar mor to protect him in battle. Nor could a person living in the Middle Ages go to the cobb ler and get a pair of shoes in a few minutes. This period before the advent of marketing is known as the 31)

• Industrial Revolution.
• mass production era.
• Dark Ages.
• pre–Industrial Revolution.
• sales orientation era.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

AACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 32 A medieval knight could not go to the armor ...

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32) The AMA’s definition of marketing reflects the view toward marketing activities as focuse d on 32)

• producing innovative products.
• increasing productivity.
• maintaining relationships with suppliers.
• creating and delivering offerings that have value.
• advertising and selling.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Topic : Marketing and Marketing Management Define

d Bloom's : Remember

Difficulty : 1 Easy

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank >oiMC Qu. 33 The AMA’s definition of marketing refl...

33) After a recent 140- day strike, the union members in California went back to work at area grocery stores.The union negotiated raises, better health care benefits, and a one- tier pay scale. The union may best be described as a(n) 33)

• governmental body.
• stakeholder.
• vendor.
• customer.
• management group.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

AACSB : Knowledge Application Bloo

m's : Apply

Topic : Marketing and Marketing Management Defined

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 34 After a recent 140-day strike, the union mem...

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34) Companies that promote sustainability practices like Starbucks, which has a recyclin g program, or General Electric, which makes environmentally- sensitive products, are practicing marketing.34)

• green
• predictive
• affiliate
• shotgun
• one-to-one

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Topic : Socially Re sponsible Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 35 Companies that promote sustainability practi...

35) Bryan gets reduced fees for his daughter’s piano lessons by maintaining her teacher ’s website. Bryan is practicing the central tenet of marketing called 35)

• value.
• exchange.
• growth.
• sustainability.
• power.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Difficulty

: 2 Medium

Bloom's : Apply

Topic : Marketing and Marketing Management Defined

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapter 01 Test Bank > MC Qu. 36 Bryan gets reduced fees for his daughter...

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36) Which of these are core marketing concepts ?

• supply and demand
• money and time
• skill and expertise
• quality and quantity
• value and exchange

36)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Topic : The Concept of Customer Value

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Gradable : automati c Source : Chapteroi01 Test Bank > MC Qu. 37 Which of these are core marketing concepts?

37) Henry Ford is well known to business students for creating the assembly line that enabl ed mass production of the Model T. This is an example of the orientation.37)

• production
• selling
• marketing
• customer
• relationship

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy

Topic : The Evolution of Marketing Gr

adable : automatic

Source : Chapteroi01 Test Bank > MC Qu. 38 Henry Ford is well known to business student...

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38) The stereotypical automobile dealership uses tactics like high pressure and bargaining to g et customers to buy. This is an example of the orientation.38)

• production
• sales
• marketing
• customer
• relationship

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 39 The stereotypical automobile dealership uses...

39) Why did production capacity utilization began to decline around the end of World War I?39)

• Firms that had dominated their respective industries before the war maintained the

ir positions due to lack of competition.

• High entry barriers prevented new companies from entering into the market place.
• Financial markets placed more pressure on firms to continually increase sales volum

e and profits.

• Financial markets were becoming less sophisticated.
• Capacity had been decreased greatly for the war.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 40 Why did production capacity utilization bega...

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40) Companies that conduct a great deal of research to learn how they can successfully put t he marketing concept into practice most likely have a orientation.40)

• production
• selling
• market
• research
• differentiation

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 41 Companies that conduct a great deal of resea...

41) When was the marketing concept introduced ?

• after the Civil War
• after World War I
• during the Great Depression
• in the 1980s
• in the 1950s

41)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy

Topic : The Evolution of Marketing Gr

adable : automatic

Source : Chapter 01 Test Bank > MC Qu. 42 When was the marketing concept introduced?

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42) The marketing concept was first articulated in the Annual Report of

• Ford Motor Company.
• AT&T.

D) RCA.

• General Motors.
• General Electric.

42)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy

Topic : The Evolution of Marketing Gr

adable : automatic

Source : Chapter 01 Test Bank >oiMC Qu. 43 The marketing concept was first articulated ...

43) Making a change in any one of the marketing mix elements wi ll

• leave the other elements unchanged.
• have a negative effect on a similar element.
• also change the other elements.
• require the firm to introduce new products.
• require an increase in promotion.

43)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 44 Makingoia change in any one of the marketing ...

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44) After World War II, business began to change in many long- lasting ways. What is least likely to have caused this shift?

• advent of readily available mainframe computing capability

44)

• opening up of production capacity dominated for years by war production
• pent-up demand for consumer goods and services after the war
• desperate need to regain a normalcy of day-to-day life after years of war
• focus on sales orientation with the objective of achieving short-term profits

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 45 After World War II, business began to change...

45) A consumer products company makes a cleanser for the hospital and nursing home mark et that is guaranteed to kill 99 percent of staphylococcus germs, a major concern for me dical facilities. Unlike the competition, this company is not interested in pursuing the co nsumer market. In this case, the company has adopted a orientation.45)

• market
• mass customization
• differentiation
• relationship
• product

Question Details

Accessibility : Keyboard Navigation A

ACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Difficulty : 3 Hard Grad

able : automatic

Source : Chapter 01 Test Bank > MC Qu. 46 A consumer products company makes a cleanser...

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46) Soria Brothers provides accounting services to small businesses. Before and after tax seaso n, the partners meet with each client company. They send a monthly newsletter to update cl ients with tax changes. The firm’s business practices mainly focus on keeping profitable cu rrent customers rather than gaining new customers. Soria Brothers has adopted a orienta tion approach.46)

• market
• mass customization
• differentiation
• relationship
• product

Question Details

Accessibility : Keyboard Navigation A

ACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Difficulty : 3 Hard Grad

able : automatic

Source : Chapteroi01 Test Bank > MC Qu. 47 Soria Brothers provides accounting services ...

47) To significantly enhance customer choices, Levi combines flexible manufacturing with flex ible marketing. Customers may visit the Levi’s clothing website or some company- owned stores and order a pair of jeans that will be made especially for them. Levi’s has ad opted a orientation approach.47)

• market
• mass customization
• differentiation
• product
• relationship

Question Details

Accessibility : Keyboard Navigation A

ACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Difficulty : 3 Hard Grad

able : automatic

Source : Chapter 01 Test Bank > MC Qu. 48 To significantly enhance customer choices, L...Version 1 23

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48) Many marketers today are more focused on , or the bundles of benefits from a n offering that solve a problem or fill a need of a customer, than they are on products .48)

• customizations
• returns on investments
• solutions
• stakeholder returns
• promotion

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy

Topic : The Concept of Customer Valu

e Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 49 Many marketers today are more focused on ...

49) The concept of engaging in a learning relationship with customers and directing the firm ’s resources to making each product or service as customized as possible is known as 49)

• market orientation.
• pro-social marketing.
• differentiation orientation.
• one-to-one marketing.
• relationship orientation.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 50 The concept of engaging in a learning relati...

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50) In the context of the 4Ps of the marketing mix, high- tech media options like cell phones and the Internet have had a huge impact on 50)

• product.
• promotion.
• people.
• position.
• price.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Four P's

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 51 In the context of theoi4Ps of the marketing m...

51) A local landscaping company works hard to keep and cultivate profitable current custome rs instead of constantly investing in gaining new customers that come with unknown retur n on investment. This company has a orientation.51)

• sales
• differentiation
• market
• production
• relationship

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

AACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Customer R elationship Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 52 A local landscaping company works hard to ke...

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52) Relationship-oriented firms tend to

• be driven by meeting a quarter’s financial projections

.

52)

• keep and cultivate their profitable current customers who are highly satisfied with t

he firm’s offering.

• constantly invest in new customers that come with unknown return on investment.
• often lose great customers and scramble to replace the associated lost revenue.
• focus primarily on increasing sales through catchy and entertaining advertisements.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : CustomeroiR elationship Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 53 Relationship-oriented firms tend to

53) Customer relationship management (CRM) is designed primarily t o

53)

• assess the personality characteristics of target customers.
• identify profitable customers in new markets.
• position products to serve very specific customer groups.
• clearly distinguish a firm’s products from those of competitors in the minds

of customers.

• facilitate higher levels of customer satisfaction.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : CustomeroiR elationship Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank >oiMC Qu. 54 Customer relationship management (CRM) is de...

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54) Independent Manufacturers keeps an in- house database of its customers, their buying history, and their preferences so it can better meet customers’ needs and gain their loyalty. This demonstrates the use of 54)

• one-to-one marketing.
• customer relationship management.
• differentiation orientation.
• sales orientation.
• exchange.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

AACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : CustomeroiR elationship Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank >oiMC Qu. 55 Independent Manufacturers keeps an in-house ...

55) Today customers have limitless access to facts about companies, products, competitors, oth er customers, and even detailed elements of marketing plans and strategies. In the context of change drivers impacting the future of marketing, this reflects the shift 55)

• in information power from marketer to customer.
• to demanding return on marketing investment.
• in generational values and preferences.
• to distinguishing Marketing (Big M) from marketing (little m).
• to product glut and customer shortage.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. AACSB : Reflective T hinking

Topic : Marketing Trends

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 56 Today customers have limitless access to fac...

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56) The Girl Scouts introduced a cookie finder app in 2013. In the context of change drive rs impacting the future of marketing, this reflects the shift 56)

• to product glut and customer shortage.
• in power from marketer to customer.
• in generational values and preferences.
• to distinguishing Marketing (Big M) from marketing (little m).
• to justifying the relevance and payback of the marketing investment.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 57 The Girl Scouts introduced a cookie finder a...

57) The Bazooka brand of candy revamped its package inserts by changing from comic strips to quizzes and brainteasers that direct kids to digital content. In the context of change dri vers impacting the future of marketing, this reflects the 57)

• shift to product glut and customer shortage.
• shift in information power from marketer to customer.
• shift in generational values and preferences.
• shift to distinguishing Marketing (Big M) from marketing (little m).
• shift to justifying the relevance and payback of the marketing investment.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. AACSB : Knowledge Application

Bloom's : Apply

Topic : Marketing Trends

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 58 The Bazooka brand of candy revamped its pack...

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58) In the context of change drivers impacting the future of marketing, the way a firm looks at strategy and tactics is reflected in the shift 58)

• to product glut and customer shortage.
• in power from marketer to customer.
• in generational values and preferences.
• to distinguishing Marketing (Big M) from marketing (little m).
• to justifying the relevance and payback of the marketing investment.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 59 In the context of change drivers impacting t...

59) In the context of change drivers impacting the future of marketing, marketing tactics such as designing the elements of the marketing mix are reflected in the shift 59)

• to product glut and customer shortage.
• in power from marketer to customer.
• in generational values and preferences.
• to distinguishing Marketing (Big M) from marketing (little m).
• to justifying the relevance and payback of the marketing investment.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 60 In the context of change drivers impacting t...

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60) The 4Ps of marketing refer to

• product, price, place, and promotion.
• policy, production, plan, and preference.
• promotion, plan, place, and procedure.
• price, policy, program, and position.
• place, production, provision, and plan.

60)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy To

pic : Four P's Gradabl

eoi: automatic

Source : Chapter 01 Test Bank > MC Qu. 61 The 4Ps of marketing refer to

61) An offering today is considered to be the in the marketing mix.

• product
• price
• promotion
• place
• policy

61)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy To

pic : Four P's Gradabl

eoi: automatic

Source : Chapter 01 Test Bank > MC Qu. 62 An offering today is considered to be the ...

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62) Supply chain management is considered to be part of the of the marketing mix.62)

• product
• price
• promotion
• place
• plan

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 63 Supply chain management is consideredoito be ...

63) In the context of the marketing mix, today is largely regarded in relationship to th e concept of value.63)

• product
• price
• promotion
• place
• policy

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Bloom's : Remember

Difficulty : 1 Easy To

pic : Four P's Gradabl

eoi: automatic

Source : Chapter 01 Test Bank > MC Qu. 64 In the context of the marketing mix, ...

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64) Ming Yue’s tailoring business works around the needs of the customer by providing hours of operation that vary throughout the week, including some evening and weekend hours. I t could be said that Ming Yue’s business is 64)

• differentiated.
• customer-centric.
• market-oriented.
• product-oriented.
• socially responsible.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

AACSB : Knowledge Application Bloo

m's : Apply

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 65 Ming Yue’s tailoring business works ar...

65) What clearly distinguishes your product from those of the competition i s

• orientation.
• differentiation.
• organization.
• relationships.
• development.

65)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : Marketing a nd Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 66 What clearly distinguishes your product from...

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66) In Wiersema’s book, The New Market Leaders, he identifies six new market realities. Whi ch of these is included in the list?66)

• competitors fade away
• few secrets are open secrets
• innovation is universal
• information appreciates
• hard times make easy growth

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 67 In Wiersema’s book, The New Market Lea...

67) Which characteristic about millennials is the least accurate?

• They favor content over authenticity.
• They are brand loyal.
• They are highly connected through technology.
• They wish to be part of a company’s development proces

s.

• They seek ethical companies to work for.

67)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Knowing the Consumer

Gradable : automatic

Source : Chapteroi01 Test Bank >oiMC Qu. 68 Which characteristic about millennials is th...

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68) As of 2019, which generational segment is the largest in the United State s?

• baby boomers
• the silent generation
• Gen X
• millennials
• Gen Z

68)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Change Driver s Impacting the Future of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 69 As of 2019, which generational segment is th...

69) Clarissa and her mother are both in marketing positions. Clarissa’s job is satisfying to her primarily because it gives her a flexible schedule and pays well so she can take vacation s with her friends. Her mother chose a job that provides health benefits and structured w ork with regular hours. This demonstrates how shifts in can influence work life versus family life.69)

• generational values and preferences
• information power from marketer to customer
• product glut and customer shortage
• buying power from customer to marketer
• competitive influences

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. AACSB : Knowledge Application

Bloom's : Apply

Topic : The Concept of Customer Valu

e Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 70 Clarissa and her mother are both in marketin...

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70) Marketing (Big M) is also known as marketing.

• pro-social
• tactical
• strategic
• green
• operational

70)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 71 Marketing (Big M) is also known as ...

71) In the context of change drivers impacting the future of marketing, marketing (little m) is also known as marketing.71)

• pro-social
• tactical
• strategic
• predatory
• green marketing

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 72 In the context of change drivers impacting t...

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72) Which action element is required for successful Marketing (Big M)?72)

• aligning all internal organizational processes and systems around the product
• ensuring that everyone in an organization understands the concept of custome

r orientation

• finding somebody at the lower level of the firm to consistently champion th

is Marketing (Big M) business philosophy

• remembering the fact that the marketing department is where Marketing (Big
• takes place
• creating market-driven, not market-driving, strategies

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapteroi01 Test Bank >oiMC Qu. 73 Which action element is required for success...

73) Strategic marketing refers, in part, to

• a firm’s internal focus on production and customer satisfaction.
• working with competitors, when appropriate, and with suppliers.
• a long-term, firm-level commitment to investing in marketing.
• making an unwavering commitment on which customers to serv

e.

• studying promotion, distribution, delivery, and production.

73)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapteroi01 Test Bank > MC Qu. 74 Strategic marketing refers, in part, to

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74) The core marketing concept characteristics of an organization- wide customer orientation and long-run profits arein nature.

• objective
• strategic
• ethical
• operational
• subjective

74)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 75 The core marketing concept characteristics o...

75) refers to approaches that drive the market toward fulfilling a whole new set of needs that customers did not realize was possible or feasible before.75)

• Green marketing
• Tactical marketing
• Market creation
• Market orientation
• Marketing mix

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 76 refers to approaches that drive the...

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76) In 2000, Samsung manufactured the first cell phone with a built- in camera. Before that, people just used their cell phones to make and receive calls. Sa msung fulfilled a need that consumers didn’t know they had through 76)

• green marketing.
• tactical marketing.
• market creation.
• market orientation.
• the marketing mix.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. AACSB : Knowledge Application

Bloom's : Apply

Topic : Marketing and Marketing Management Define

d Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 77 In 2000, Samsung manufactured the first cell...

77) For successful Marketing (Big M), customer orientation must be understood by 77)

• an organization’s competitors.
• the top management only.
• an organization’s suppliers.
• the existing customers.
• everyone in the organization.

Question Details

Accessibility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. AACSB : Communica tion

Topic : Marketing andoiMarketing Management Define

d Bloom's : Remember

Difficulty : 1 Easy Grad

able : automatic

Source : Chapter 01 Test Bank > MC Qu. 78 For successful Marketing (Big M), customer o...

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78) For successful Marketing (Big M), all internal organizational practices should be aligne d around 78)

• profits.
• management.
• manufacturing.
• the customer.
• information technology.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapter 01 Test Bank > MC Qu. 79 For successful Marketing (Big M), all intern...

79) In order for Marketing (Big M) to succeed, it must be championed b y

• the sales force.
• top management.
• middle management.
• frontline personnel.
• everyone in the organization.

79)

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Bloom's : Remember Diff

iculty : 1 Easy Gradable

: automatic

Source : Chapteroi01 Test Bank > MC Qu. 80 In order for Marketing (Big M) to succeed, i...

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80) A small business spent a large amount of time determining its brand image and how it wou ld deliver its message to its customers. These are elements of 80)

• Marketing (Big M).
• marketing (little m).
• strategic marketing.
• the supply chain.
• stakeholder relations.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Difficulty

: 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Bloom's : Apply

Topic : Marketing and Marketing Management Define

d Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 81 A small business spent a large amount of tim...

81) In order for Marketing (Big M) to succeed, firms should create strategies.81)

• predatory pricing
• market-driving
• diversification
• vertical integration
• market-driven

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 82 In order for Marketing (Big M) to succeed, f...

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82) In the context of change drivers impacting the future of marketing, marketing (little m) 82)

• is often thought of as strategic marketing.
• almost always takes place at the top level of a firm.
• serves as a core driver of business strategy.
• need not be couched within the philosophy of a firm’s Marketing (Big M).
• serves the firm and its stakeholders at a functional level.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing and Marketing Management Defined

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 83 In the context of change drivers impacting t...

83) Microsoft’s revolution of the information field and Disney’s creation of the modern the me park industry are classic examples of 83)

• marketing mix.
• marketing (little m).
• pro-social marketing.
• green marketing.
• market creation.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

Gradable : automatic

Source : Chapter 01 Test Bank >oiMC Qu. 84 Microsoft’s revolution of the informat...

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84) Everything from brand image to the message sales people and advertisements deliver t

• customer service to packaging and product features to the chosen distribution chan

nel exemplify 84)

• strategic marketing.
• relationship orientation.
• Marketing (Big M).
• sales orientation.
• marketing (little m).

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Change Driver s Impacting the Future of Marketing

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 85 Everything from brand image to the message s...

85) Appropriate and effective marketing metrics must be designed to identify, track, evaluate, and provide key benchmarks for improvement. In the context of change drivers affecting t he future of marketing, this reflects the shift 85)

• to justifying the relevance and payback of the marketing investment.
• to product glut and customer shortage.
• to distinguishing Marketing (“Big M”) from marketing (“little m”).
• in generational values and preferences.
• in information power from marketer to customer.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Me trics

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 86 Appropriate and effective marketing metrics ...

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86) Sharon’s manager asked her to identify, track, evaluate, and provide key benchmarks f or improvement in her marketing department. To do this, Sharon used 86)

• marketing metrics.
• market research.
• the marketing mix.
• market creation.
• strategic marketing.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Me trics

AACSB : Knowledge Application Bloo

m's : Apply

Gradable : automatic

Source : Chapteroi01 Test Bank > MC Qu. 87 Sharon’s manager asked heroito identify...

87) Whenoithe text states that marketers need to create tools for ongoing, meaningf ul measurement of marketing productivity, it is referring to the need for 87)

• accountability.
• responsibility.
• subjectivity.
• visibility.
• identification.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Me trics

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 88 When the text states that marketers need to ...

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88) Manjit’s job is to measure, manage, and analyze marketing performance to maximize m arketing effectiveness and optimize return on marketing investment. Manjit is practicing 88)

• financial metrics.
• marketing analytics.
• economic analysis.
• marketing metrics.
• budget analysis.

Question Details

Accessibility : Keyboard Navigation Dif

ficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Me trics

AACSB : Knowledge Application Bloo

m's : Apply

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 89 Manjit’s job is to measure, manage, an...

89) Which of these is a macro-level environmental trend in business that affects marketing?89)

• a shift to digital and social media approaches to marketing communication
• the emphasis on internal stakeholders
• CEOs being held more responsible for assessing marketing productivity
• the view of marketing as an investment instead of a cost
• the quantification of marketing objectives and results

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Difficulty : 2 Medium

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

Gradable : automatic

Source : Chapter 01 Test Bank > MC Qu. 90 Which of these is a macro-level environmenta...

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SHORT ANSWER. Write the word or phrase that best completes each statement o r answers the question.90) Name three of the marketing misconceptions discussed in the text, and explain why these do not accurately describe the field of marketing.

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AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

01 Identify typical misconceptions about marketing, why they persist, and the Topic : Marketing and Marketing Management Defined

Difficulty : 3 Har

d Bloom's : Analy

ze Gradable : ma

nual Source : Chapter 01 Test Bank > SA Qu. 91 Name three of the marketing misconceptions d...

91) How do you define the term marketing? How does the AMA definition compare wi th Drucker’s definition?

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation Bloom's : Understand

Topic : Marketing and Marketing Management Define

d Difficulty : 3 Hard

Gradable : manual

Learning Objective : 01-

02 Define what marketing and marketing management really are and how they con Source : Chapter 0

• Test Bank > SA Qu. 92 How do you define the term marketing? How do...

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92) Compare and contrast the production orientation, the sales orientation, the differentiatio n orientation, the market orientation, and the relationship orientation.

Question Details

AACSB : Analytical Thinking Accessi

bility : Keyboard Navigation

Learning Objective : 01-

03 Appreciate how marketing has evolved from its early roots to be practiced Topic : The Evoluti on of Marketing

Difficulty : 3 Har

d Bloom's : Analy

ze Gradable : ma

nual Source : Chapteroi01 Test Bank > SA Qu. 93 Compare and contrast the production orientat...

93) Describe three ways in which information power has shifted from the marketer to t he customer.

Question Details

Accessibility : Keyboard Navigation Bl

oom's : Understand

Learning Objective : 01-

04 Recognize the impact of key change drivers on the future of marketing. Topic : Marketing Tre nds

Difficulty : 3 Hard AAC

SB : Technology Gradabl

e : manual

Source : Chapter 01 Test Bank > SA Qu. 94 Describe three ways in which information pow...

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Answer Key

Test name: chapter 1

1) TRUE

2) FALSE

3) TRUE

4) TRUE

5) FALSE

The concept of environmentally friendly marketing, or green marketing, has been a growin g trend in socially responsible companies. Today the movement has evolved into a part of the philosophical and strategic core of many firms under the labelsustainability, which re fers to business practices that meet humanity’s needs without harming future generations.

6) TRUE

7) FALSE

8) TRUE

9) FALSE

Fred Wiersema, in his bookThe New Market Leaders, builds a powerful case that the balance of power is shifting between marketers and their customers, both in business-to- consumer (B2C/end user) markets and business-to- business (B2B) markets. Wiersema’s central point is that not only is a customer orientation des irable, but also in today’s market it is a necessity for survival.

10) TRUE

11) TRUE

12) TRUE

13) FALSE

14) TRUE

15) TRUE

16) TRUE

17) FALSE

18) FALSE

19) FALSE

20) C Unlike most other key areas of business, marketing as a field is highly public and readily visibl e outside the confines of the internal business operation. Of all the business fields, marketing i s almost certainly the most visible to people outside the organization.

21) A Version 1 47

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Despite the fact that much of marketing is easily observable to just about anyone, marketing as a professional field worthy of serious study doesn’t always get the respect it deserves, maybe in part because of its overexposure, but also because in the past, marketing has had few usef ul metrics or measures to gauge the performance impact of a firm’s marketing investment, wh ile other areas of the firm have historically been much more driven by measurement of result s.

22) E Marketing is no more inherently unethical than other business areas. The accounting scandals at Enron, WorldCom, and other firms in the early 2000s show that to be true. However, when some element of marketing proves to be unethical (or even illegal), it tends to be visible to th e general public. See Exhibit 1.1.

23) A Unlike most other key areas of business, marketing as a field is highly public and readily visibl e outside the confines of the internal business operation. Most aspects of financial managemen t, accounting, information technology, production, operations management, and human resourc e management take place behind the curtain of an organization, out of the general public’s sig ht. But marketing is very different. A good portion of marketing is very public.

24) C A misconception about marketing is that it is all about selling. The general public also experie nces a lot of selling. Much of this day-to- day selling is in retail store environments. Selling, or more correctly “personal selling,” is simp ly another method of marketing communication. See Exhibit 1.1.

25) D Consider this quote from Drucker, circa 1954: If we want to know what a business is we have to start with its purpose. There is only one valid definition of business purpose: to create a cu stomer.

26) C According to Peter Drucker, marketing is so basic that it cannot be considered a separate func tion within the business. It is a central dimension of the entire business. It is the whole busine ss seen from the customer’s point of view. Concern and responsibility for marketing must per meate all areas of the enterprise.

27) B

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The American Marketing Association’s definition of marketing is “the activity, set of institution s, and processes for creating, communicating, delivering, and exchanging offerings that have v alue for customers, clients, partners, and society at large.”

28) D Purpose marketing, or pro- social marketing, is growing as a marketing strategy. This growing popularity can be attribute d to an increasing number of consumers who say what a company stands for influences their purchasing decisions. Toms shoe company is renowned for its social entrepreneurism and soci ally conscious purpose marketing. Toms’ “One for One” mission assures customers that with every purchase, “Toms will help a person in need.” 29) D From a customer’s perspective, we define value as a ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bu ndle of benefits.

30) E A central tenet of marketing is the concept of exchange, in which people give up something of value to them for something else they desire to have. Usually an exchange is facilitated by mo ney, but not always.

31) B Bridgit exchanged something of value (her old car and cash) for something else that was of val ue to her.

32) D When a person needed a new pair of shoes in the pre– Industrial Revolution, one would likely go visit the village cobbler, who would take precise m easurements and then send the customer away with instructions to return in a week or so to.

33) D The AMA defines marketing as the activity, set of institutions, and processes for creating, com municating, delivering, and exchanging offerings that have value for customers, clients, partners , and society at large.

34) B The range of external stakeholders—those outside a firm— includes customers, vendors, governmental bodies, labor unions, and many others.

35) A Version 1 49

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The concept of environmentally friendly marketing, or green marketing, has been a growing tr end in socially responsible companies. Environmental awareness coupled with a sense of social responsibility is leading many companies to assess their environmental policies and business practices.

36) B A central tenet of marketing is the concept of exchange, in which people give up something of value to them for something else they desire to have. Usually an exchange is facilitated by mo ney, but not always. Sometimes people trade or barter nonmonetary resources such as time, skil l, expertise, intellectual capital, and other things of value for something else they want.

37) E Value and exchange are two core marketing concepts. From a customer’s perspective, we defin e value as a ratio of the bundle of benefits a customer receives from an offering compared to t he costs incurred by the customer in acquiring that bundle of benefits. Another central tenet of marketing is the concept of exchange, in which a person gives up something of value to them f or something else they desire to have.

38) A Maximizing production capacity utilization became a predominant concern. For the early part o f the 20th century, the focus was on this production orientation of improving products and pro duction efficiency without much regard for what was going on in the marketplace.

39) B A sales orientation suggests that, to increase sales and consequently production capacity utiliza tion, professional salespeople need to “push” product into the hands of customers, both busines ses and end users.

40) C Around the end of World War I, production capacity utilization began to decline for several r easons. First, capacity had been increased greatly for the war. Second, a number of firms that had dominated their respective industries before the war now found themselves with stiff com petition for sales because many new competitors had flooded into the marketplace. And third, financial markets were becoming more sophisticated and were placing more pressure on firms to continually increase sales volume and profits.

41) C A great deal of research has been devoted to learning how a firm can successfully put t he marketing concept into practice. Think of market orientation as the implementation o f the marketing concept.Version 1 50