Test Bank for Marketing Management 15th Edition

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Test Bank for Marketing Management 15th Edition 2 / 4

Marketing Management chapter 1 practice test

• Which of the following statements about marketing is true?
• It is of little importance when products are standardized.
• It can help create jobs in the economy by increasing demand for goods and services.
• It helps to build a loyal customer base but has no impact on a firm's intangible assets.
• It is more important for bigger organizations than smaller ones.
• It is seldom used by nonprofit organizations.

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B

• is the art and science of choosing target markets and getting, keeping, and growing

customers through creating, delivering, and communicating superior customer value.

• Marketing management
• Knowledge management
• Operations management
• Strategic management
• Distribution management

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A

• Identify the correct statement about marketing management.
• It is primarily concerned with the systematic gathering, recording, and analysis of data about

issues related to marketing products and services.

• It focuses mostly on monitoring the profitability of a company's products and services.
• It focuses solely on attaining an organization's sales goals in an efficient manner.
• It is defined as the field that deals with planning and managing a business at the highest level of

corporate hierarchy.

• It occurs when at least one party to a potential exchange thinks about the means of achieving

desired responses from other parties.

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E

• A social definition of marketing says .
• effective marketing requires companies to remove intermediaries to achieve a closer connection

with direct consumers

• a company should focus exclusively on achieving high production efficiency, low costs, and mass

distribution to facilitate the broadest possible access to the company's products

• marketing is the process by which individuals and groups obtain what they need and want

through creating, offering, and freely exchanging products and services of value with others

• marketing is the process of extracting the maximum value from consumers to facilitate

corporate growth

• marketing is the process of aggressive selling and promotion to encourage the purchase of

products that might otherwise be unsought by the consumer

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C

• goods constitute the bulk of most countries' production and marketing efforts.
• Durable
• Impulse 3 / 4

• Physical
• Luxury
• Intangible

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C

• As economies advance, a growing proportion of their activities focuses on the production of

.

• products
• events
• experiences
• luxury goods
• services

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E

• Car rental firms, hair dressers, and management consultants provide .
• goods
• experiences
• events
• services
• information

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D

• The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of

marketing a(n) .

• idea
• place
• luxury item
• event
• service

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D

• The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its

multicultural society in order to attract tourists is an example of marketing.

• event
• property
• service
• place
• idea

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D

• In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a

haunted house. Disney is marketing a(n) .

• experience
• service
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