TEST BANK FOR MARKETING MANAGEMENT, 15TH EDITION BY PHILIP KOTLER

Marketing Management, 15e (Kotler) Chapter 1 Defining Marketing for the New Realities 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Diff: 1 LO: 1.1: Why is marketing important? AACSB: Reflective thinking 2) A marketer's only concern is how best to create demand for a new product produced by his/her company. Improving product design is not his/her responsibility. Answer: FALSE Diff: 1 LO: 1.1: Why is marketing important? AACSB: Reflective thinking MEDCONNOISSEUR 3) management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A) Marketing B) Knowledge C) Operations D) Strategic E) Distribution Answer: A Diff: 1 LO: 1.2: What is the scope of marketing? AACSB: Reflective thinking 4) Identify the correct statement about marketing management. A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on attaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. Answer: E Diff: 2 LO: 1.2: What is the scope of marketing? AACSB: Reflective thinking 5) A social definition of marketing says _. A) effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers B) 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 C) 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 D) marketing is the process of extracting the maximum value from consumers to facilitate corporate growth E) marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer Answer: C Diff: 1 LO: 1.2: What is the scope of marketing? AACSB: Reflective thinking 6) goods constitute the bulk of most countries' production and marketing efforts. MEDCONNOISSEUR A) Durable B) Impulse C) Physical D) Luxury E) Intangible Answer: C Diff: 1 LO: 1.2: What is the scope of marketing? AACSB: Reflective thinking 7) As economies advance, a growing proportion of the economy's activities focuses on the production of . A) products B) events C) experiences D) luxury goods E) services Answer: E Diff: 2 LO: 1.2: What is the scope of marketing? AACSB: Reflective thinking 8) Car rental firms, hair dressers, and management consultants provide . A) goods B) experiences C) events D) services E) information Answer: D Diff: 1 LO: 1.2: What is the scope of marketing? AACSB: Analytical thinking; Application of knowledge 9) Soccer's World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) . A) idea B) place C) luxury item D) event E) service Answer: D Diff: 2 LO: 1.2: What is the scope of marketing? MEDCONNOISSEUR AACSB: Application of knowledge 10) 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. A) event B) property C) service D) place E) idea Answer: D Diff: 2 LO: 1.2: What is the scope of marketing? AACSB: Analytical thinking; Application of knowledge 11) 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) . A) experience B) service C) event D) organization E) good Answer: A Diff: 1 LO: 1.2: What is the scope of marketing? AACSB: Analytical thinking; Application of knowledge 12) Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation? A) nonexistent demand B) latent demand C) full demand D) unwholesome demand E) overfull demand Answer: E Diff: 2 LO: 1.2: What is the scope of marketing? AACSB: Analytical thinking; Application of knowledge 13) Sales of woolen clothing usually increase during the winter season and decline thereafter. This is an example of demand. A) irregular B) declining C) impulse MEDCONNOISSEUR