Test Bank for Marketing Management 7th Edition by Dawn Iacobucci

Chapter 01 - Why Is Marketing Management Important?


1. Marketing helps to build brand equity and the company’s reputation.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

2. Marketing is defined as an exchange between a firm and its customers.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Remember
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

3. Marketers try to figure out what customers want and how to provide it profitably.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

4. Avery just purchased a new Solaris compact car from the local Solaris Auto Center. Even
though Avery was happy and Solaris made a profit, this was not a symbiotic relationship.
a. True
b. False
ANSWER: False
POINTS: 1

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,DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

5. Marketing helps a company stay ahead of the competition.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

6. In an exchange, the company provides value to the customer without expecting anything in
return.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

7. Most companies would agree that taking in profits is much more important than keeping
customers happy.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship

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,KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

8. The term “market” sounds like it involves selling simple, tangible goods, but hardly anything
can be marketed.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

9. An entrepreneur who owns a green cleaning service is a marketer when they promote their
business to new clients.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

10. Marketers help athletes, celebrities, and politicians with their reputations in their respective
marketplaces (to fans and agents, intelligentsia, or the public).
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

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, 11. Some things that can be marketed include goods, services, experiences, events, and people.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Remember
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

12. A marketer for the Wellness Nutrition Alliance would be responsible for promoting the
importance of eating foods lower in fat.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-1 Defining Marketing as an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

13. These days, we live in a truly product-oriented and product-empowered marketing world.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
TOPICS: 1-2 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM

14. Marketing can be used to educate the public.
a. True
b. False

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