Test Bank For OpenStax Principles of Marketing.
,Unit 1: Setting the Stage
● Chapter 1: Marketing and Customer Value
● Chapter 2: Strategic Planning in Marketing
Unit 2: Understanding the Marketplace
● Chapter 3: Consumer Markets and Purchasing Behavior
● Chapter 4: Business Markets and Purchasing Behavior
● Chapter 5: Market Segmentation, Targeting, and Positioning
● Chapter 6: Marketing Research and Market Intelligence
● Chapter 7: Marketing in a Global Environment
● Chapter 8: Marketing in a Diverse Marketplace
Unit 3: Product, Promotion, Price, and Place
● Chapter 9: Products: Consumer Offerings
● Chapter 10: Maintaining a Competitive Edge with New Offerings
● Chapter 11: Services: The Intangible Product
● Chapter 12: Pricing Products and Services
● Chapter 13: Integrated Marketing Communications
● Chapter 14: The Promotion Mix: Advertising and Public Relations
● Chapter 15: The Promotion Mix: Personal Selling and Sales Promotion
● Chapter 16: Direct, Online, Social Media, and Mobile Marketing
● Chapter 17: Distribution: Delivering Customer Value
● Chapter 18: Retailing and Wholesaling
● Chapter 19: Sustainable Marketing: The New Paradigm
,Chapter 1: Marketing and Customer Value
1. The American Marketing Association defines marketing as the activity, set of
institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for which of the following groups?
A. Only the organization’s shareholders and internal managers
B. Customers, clients, partners, and society at large
C. Solely the end-consumers who purchase the product
D. Only the marketing and sales departments within a firm
Correct Answer: B
Explanation: The textbook explicitly cites the AMA definition, which emphasizes
that marketing creates value not just for customers, but also for clients, partners,
and society at large.
2. A consumer is hungry and decides to order food through Uber Eats to be
delivered to their home at 11:00 PM. By making the food available and accessible
at this specific location and time, the marketing process has primarily created
which types of utility?
A. Form and Possession utility
, B. Psychological and Social utility
C. Place and Time utility
D. Monetary and Functional utility
Correct Answer: C
Explanation: Time utility is created by making products available when it is
convenient for customers, while Place utility is created by making goods physically
available and accessible where the customer needs them.
3. In the five-step marketing process outlined in the text, which step involves
acquiring, keeping, and growing customer relationships to ensure repeat sales?
A. Step 1: Understand the marketplace and customers
B. Step 2: Develop a customer-driven marketing strategy
C. Step 4: Grow profitable customer relations
D. Step 5: Capture value from customers
Correct Answer: C
Explanation: Step 4 of the marketing process is where marketers focus on
acquiring, keeping, and growing customer relationships to move beyond one-time
sales and secure repeat buyers.
4. During the early 20th century, many companies believed that if they simply built
products efficiently and made them widely available at low costs, consumers would
purchase them regardless of specific features. This philosophy represents which
marketing evolution stage?
A. The Product Concept
B. The Sales Concept
,Unit 1: Setting the Stage
● Chapter 1: Marketing and Customer Value
● Chapter 2: Strategic Planning in Marketing
Unit 2: Understanding the Marketplace
● Chapter 3: Consumer Markets and Purchasing Behavior
● Chapter 4: Business Markets and Purchasing Behavior
● Chapter 5: Market Segmentation, Targeting, and Positioning
● Chapter 6: Marketing Research and Market Intelligence
● Chapter 7: Marketing in a Global Environment
● Chapter 8: Marketing in a Diverse Marketplace
Unit 3: Product, Promotion, Price, and Place
● Chapter 9: Products: Consumer Offerings
● Chapter 10: Maintaining a Competitive Edge with New Offerings
● Chapter 11: Services: The Intangible Product
● Chapter 12: Pricing Products and Services
● Chapter 13: Integrated Marketing Communications
● Chapter 14: The Promotion Mix: Advertising and Public Relations
● Chapter 15: The Promotion Mix: Personal Selling and Sales Promotion
● Chapter 16: Direct, Online, Social Media, and Mobile Marketing
● Chapter 17: Distribution: Delivering Customer Value
● Chapter 18: Retailing and Wholesaling
● Chapter 19: Sustainable Marketing: The New Paradigm
,Chapter 1: Marketing and Customer Value
1. The American Marketing Association defines marketing as the activity, set of
institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for which of the following groups?
A. Only the organization’s shareholders and internal managers
B. Customers, clients, partners, and society at large
C. Solely the end-consumers who purchase the product
D. Only the marketing and sales departments within a firm
Correct Answer: B
Explanation: The textbook explicitly cites the AMA definition, which emphasizes
that marketing creates value not just for customers, but also for clients, partners,
and society at large.
2. A consumer is hungry and decides to order food through Uber Eats to be
delivered to their home at 11:00 PM. By making the food available and accessible
at this specific location and time, the marketing process has primarily created
which types of utility?
A. Form and Possession utility
, B. Psychological and Social utility
C. Place and Time utility
D. Monetary and Functional utility
Correct Answer: C
Explanation: Time utility is created by making products available when it is
convenient for customers, while Place utility is created by making goods physically
available and accessible where the customer needs them.
3. In the five-step marketing process outlined in the text, which step involves
acquiring, keeping, and growing customer relationships to ensure repeat sales?
A. Step 1: Understand the marketplace and customers
B. Step 2: Develop a customer-driven marketing strategy
C. Step 4: Grow profitable customer relations
D. Step 5: Capture value from customers
Correct Answer: C
Explanation: Step 4 of the marketing process is where marketers focus on
acquiring, keeping, and growing customer relationships to move beyond one-time
sales and secure repeat buyers.
4. During the early 20th century, many companies believed that if they simply built
products efficiently and made them widely available at low costs, consumers would
purchase them regardless of specific features. This philosophy represents which
marketing evolution stage?
A. The Product Concept
B. The Sales Concept
