Test Bank for Marketing 4th Edition By Shane Hunt, John Mello, George Deitz (All Chapters 100% Original Verified, A+ Grade)

Test Bank for Marketing 4th Edition By Shane Hunt, John Mello, George Deitz (All Chapters 100% Original Verified, A+ Grade)
Answers at the end of each Chapter.
Chapter 1


Student name:__________
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Marketing refers to advertising and selling a product.
⊚ true
⊚ false

2) In order to measure the value customers receive from a product, marketers need only look at
the actual monetary outlay the customer must produce in order to obtain the product.
⊚ true
⊚ false

3) Regardless of market conditions, most new products introduced in the marketplace are
successful.
⊚ true
⊚ false

4) Logistics is the process of coordinating the flow of money among members of the supply
chain.
⊚ true
⊚ false

5) The production era continued until consumer demand could not keep up with the growth in
production and new strategies were needed to maximize success.
⊚ true
⊚ false

6) The sales orientation strategy is characterized by a customer orientation that focuses on
customer satisfaction.
⊚ true
⊚ false

7) The marketing concept is a strategy that utilizes all aspects of marketing in order to satisfy
customer needs.
⊚ true
⊚ false

8) The marketing concept strategy was short lived, giving way to what is the dominant strategy
in today's marketplace, that of sales orientation.
⊚ true
⊚ false



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9) Platforms like Facebook and Twitter are changing how firms interact with customers to
better meet the needs of the marketplace.
⊚ true
⊚ false

10) Marketers create value for customers when they develop products that allow consumers to
satisfy their needs and wants through exchange relationships.
⊚ true
⊚ false

11) In a marketing sense, there is really no difference between a need and a want.
⊚ true
⊚ false

12) When it comes to marketing products and services, marketers do not need to be concerned
with any ethical implications of their actions because the consumer bears the ultimate
responsibility to determine whether or not a product is needed.
⊚ true
⊚ false

13) The marketing concept is also referred to as the four Ps of marketing.
⊚ true
⊚ false

14) Janine is looking to open a cupcake shop. She wants to make sure her shop is successful, so
she hires a consultant to help her determine the best location for her new business. In this
example, the information given to Janine by the consultant is considered a product.
⊚ true
⊚ false

15) Promotion is typically the easiest marketing mix element to change.
⊚ true
⊚ false

16) The place element of the marketing mix involves the activities a firm undertakes to make its
product available to potential customers.
⊚ true
⊚ false




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17) Firms that use social media for promotion try to create content that attracts attention and
encourages readers to share the content with their social networks.
⊚ true
⊚ false

18) The interconnected nature of the world economy is referred to as internationalization.
⊚ true
⊚ false

19) NAFTA has had a negative impact on U.S. farmers because of the restrictions it imposes on
exports, which has made trade between countries more difficult for the farmers.
⊚ true
⊚ false

20) Tony the Tiger is part of the brand that differentiates Kellogg's cereal from that of other
firms.
⊚ true
⊚ false

21) The practice of measuring, managing, and analyzing market performance is referred to as
logistics.
⊚ true
⊚ false

22) The first step in the ethical decision-making framework is to identify the ethical issue at
hand.
⊚ true
⊚ false

23) Determining what default privacy settings should be built into a company website is an
ethical issue that relates to the product element of the marketing mix.
⊚ true
⊚ false

24) Since they are not in the business of generating revenue or making profits, nonprofit
organizations do not need to rely on marketing efforts to be successful.
⊚ true
⊚ false




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25) Professionally speaking, you need different marketing principles than those used in business
settings to help you market yourself and help you to reach your professional goals.
⊚ true
⊚ false

MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
26) Marketing is defined as
A) the process of targeting and selecting a group of consumers or organizational buyers
in order to promote a product or service with the aim of achieving a profit.
B) the process of creating, communicating, delivering, and exchanging value to
customers and managing those relationships in ways that benefit the organization and
its employees, customers, investors, and society as a whole.
C) the set of activities needed to produce and deliver a product that produces the highest
return on investment.
D) any activity used to advertise and promote a product or service.
E) the process of managing the supply chain to ensure that products are delivered where
and when customers want them.

27) As it relates to customers, the aim of marketing is to
A) provide customers with value.
B) increase profits by ensuring customers pay the highest price possible for a product.
C) accurately and truthfully advertise the product.
D) generate repeat sales from each and every customer.
E) reduce the number of customer complaints.

28) Marketers define customer value as
A) selling a product regardless of whether or not it meets a customer's needs and/or
wants.
B) the perceived benefits, both monetary and nonmonetary, that customers receive from
a product compared with the cost associated with obtaining it.
C) the ability to provide a product at the lowest possible price after covering all
production expenses.
D) providing a product or a service to a customer such that the customer will purchase
that same product or service again in the future.
E) being able to sell products that generate little to no customer returns or complaints.




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