B) Ben & Jerry's is a privately owned ice cream producer.
C) Ben & Jerry's prides itself on offering more ice cream flavors than its competitors.
D) Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry
cartoon
characters in order to capitalize on childhood nostalgia.
E) Ben & Jerry's has only been in business for 20 years and is already the industry leader in
premium ice cream.
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2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
5) A(n) ________ is a legal entity that consists of people who share a common mission.
A) department
B) organization
C) SBU
D) industry
E) market
6) In marketing, an organization refers to
A) a legal entity that consists of people who share a common mission.
B) a group of people united through contractual or corporate ownership.
C) a legal entity engaged in business activities solely with the intent of making a profit.
D) a legal entity engaged in business activities solely with the intent of serving its
employees
without the intent of making a profit.
E) a privately owned entity that serves its customers to earn a profit so that it can survive.
7) A(n) ________ is a good, service, or idea that creates value for both the organization and its
customers by satisfying their needs and wants.
A) organization
B) business firm
C) nonprofit
D) offering
E) industry
8) In marketing, an offering refers to
A) the formal designation of a publicly traded stock for a specific product, service, or idea.
B) a form of currency used by buyer and seller to minimize the tax burden for both parties.
C) a good, service, or idea that creates value for both the organization and its customers by
satisfying their needs and wants.
D) the manufacturer's suggested retail price of a product or service to the general public or
the
wholesale price to distributors and retailers.
E) the service suppliers and distributors provide to help manufacturers bring a product to
dr.j
,market.
9) Today's organizations can be divided into three groups, which are ________ organizations.
A) company, nonprofit, and cooperative
B) corporation, employee-owned, and interest
C) for-profit, nonprofit, and governmental
D) employee, distributor, and customer
E) public, private, and international
10) A(n) ________ is a privately owned organization that serves its customers to earn a profit
so
that it can survive.
A) agency
B) for-profit organization
C) institution
D) nonprofit organization
E) cooperative
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
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3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
11) A for-profit organization refers to
A) a subsidiary, division, or unit of an organization that markets a set of related offerings to
a
clearly defined group of customers.
B) a legal entity engaged in business activities solely with the intent of serving its
employees
without the intent of making a profit.
C) a privately owned organization that serves its customers to earn a profit so that it can
survive.
D) a group of people united through contractual or corporate ownership.
E) a publicly owned organization that serves the general population.
12) ________ the reward to a business firm for the risk it undertakes in marketing its
offerings.
A) Shareholders' equity is
B) Profit is
C) Assets are
D) Contribution margin is
E) Goodwill is
13) Profit refers to
A) the point at which a company's assets equal its liabilities plus shareholder equity.
B) the difference between the list and final price of a product or service.
C) the money earned when the economic order quantity is minimized.
dr.j
,D) the money left over after a business firm's total expenses are subtracted from its total
revenues.
E) the total amount of revenue accrued through product sales or service distribution.
14) A nonprofit organization is
A) a nongovernmental organization that serves its customers but does not have profit as an
organizational goal.
B) a legal entity engaged in business activities solely with the intent of serving its
employees
without the intent of making a profit.
C) a publicly owned organization that serves the general population.
D) a group of people united through contractual or corporate ownership.
E) a privately owned organization that serves its customers to earn a profit so that it can
survive.
15) A ________ is a nongovernmental organization that serves its customers but does not have
profit as an organizational goal.
A) business firm
B) subchapter S corporation
C) service agency
D) cooperative
E) nonprofit organization
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
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4
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
16) A ________ is a federal, state, county, or city unit that provides a specific service to its
constituents.
A) business firm
B) subchapter S corporation
C) government agency
D) cooperative
E) nonprofit organization
17) Social entrepreneurs who start new ventures such as Teach for America and Swipe Out
Hunger are usually structured as ________ rather than business firms.
A) business agencies
B) nonprofit organizations
C) government agencies
D) cooperatives
E) social service agencies
18) Which statement best describes the most significant difference between a for-profit
organization or a business firm and a nonprofit organization?
A) Business firms earn a profit each year while nonprofits operate at a deficit annually.
dr.j
, B) Nonprofit organizations do not carry on economic activities while business firms do.
C) Nonprofit organizations are concerned with social issues and business firms are not.
D) Both serve customers, but business firms seek a profit while nonprofit organizations do
not.
E) Nonprofit organizations are publicly owned and business firms are privately owned.
19) An example of a nonprofit organization is
A) the Food and Drug Administration.
B) CVS Pharmacies.
C) the medical technology company Medtronic, Inc.
D) the pharmaceutical company Pfizer, Inc.
E) the American Red Cross.
20) Cree markets LED (light-emitting diode) bulbs that replace the traditional incandescent
bulb.
A Cree LED bulb consumes 85 percent less energy and lasts for 25,000 hours. Cree is an
example of
A) a cooperative.
B) an industry.
C) a nonprofit organization.
D) a business firm.
E) a government agency.
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
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5
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
21) Swipe Out Hunger is an organization that encourages college students to donate unused
meal
points to help feed community members in need. With chapters on 23 campuses, it has
distributed more than 1.2 million meals. Swipe Out Hunger is an example of
A) a cooperative.
B) an industry.
C) a nonprofit organization.
D) a business firm.
E) a government agency.
22) ________ starts new ventures that address important social needs and issues. These new
enterprises are often organized as nonprofit organizations.
A) Corporate welfare
B) A social entrepreneur
C) Sustainable development
D) Cause marketing
E) Societal capitalism
23) Social entrepreneurs' ventures are usually structured as
dr.j
C) Ben & Jerry's prides itself on offering more ice cream flavors than its competitors.
D) Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry
cartoon
characters in order to capitalize on childhood nostalgia.
E) Ben & Jerry's has only been in business for 20 years and is already the industry leader in
premium ice cream.
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
nursytestbank.store
2
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
5) A(n) ________ is a legal entity that consists of people who share a common mission.
A) department
B) organization
C) SBU
D) industry
E) market
6) In marketing, an organization refers to
A) a legal entity that consists of people who share a common mission.
B) a group of people united through contractual or corporate ownership.
C) a legal entity engaged in business activities solely with the intent of making a profit.
D) a legal entity engaged in business activities solely with the intent of serving its
employees
without the intent of making a profit.
E) a privately owned entity that serves its customers to earn a profit so that it can survive.
7) A(n) ________ is a good, service, or idea that creates value for both the organization and its
customers by satisfying their needs and wants.
A) organization
B) business firm
C) nonprofit
D) offering
E) industry
8) In marketing, an offering refers to
A) the formal designation of a publicly traded stock for a specific product, service, or idea.
B) a form of currency used by buyer and seller to minimize the tax burden for both parties.
C) a good, service, or idea that creates value for both the organization and its customers by
satisfying their needs and wants.
D) the manufacturer's suggested retail price of a product or service to the general public or
the
wholesale price to distributors and retailers.
E) the service suppliers and distributors provide to help manufacturers bring a product to
dr.j
,market.
9) Today's organizations can be divided into three groups, which are ________ organizations.
A) company, nonprofit, and cooperative
B) corporation, employee-owned, and interest
C) for-profit, nonprofit, and governmental
D) employee, distributor, and customer
E) public, private, and international
10) A(n) ________ is a privately owned organization that serves its customers to earn a profit
so
that it can survive.
A) agency
B) for-profit organization
C) institution
D) nonprofit organization
E) cooperative
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
nursytestbank.store
3
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
11) A for-profit organization refers to
A) a subsidiary, division, or unit of an organization that markets a set of related offerings to
a
clearly defined group of customers.
B) a legal entity engaged in business activities solely with the intent of serving its
employees
without the intent of making a profit.
C) a privately owned organization that serves its customers to earn a profit so that it can
survive.
D) a group of people united through contractual or corporate ownership.
E) a publicly owned organization that serves the general population.
12) ________ the reward to a business firm for the risk it undertakes in marketing its
offerings.
A) Shareholders' equity is
B) Profit is
C) Assets are
D) Contribution margin is
E) Goodwill is
13) Profit refers to
A) the point at which a company's assets equal its liabilities plus shareholder equity.
B) the difference between the list and final price of a product or service.
C) the money earned when the economic order quantity is minimized.
dr.j
,D) the money left over after a business firm's total expenses are subtracted from its total
revenues.
E) the total amount of revenue accrued through product sales or service distribution.
14) A nonprofit organization is
A) a nongovernmental organization that serves its customers but does not have profit as an
organizational goal.
B) a legal entity engaged in business activities solely with the intent of serving its
employees
without the intent of making a profit.
C) a publicly owned organization that serves the general population.
D) a group of people united through contractual or corporate ownership.
E) a privately owned organization that serves its customers to earn a profit so that it can
survive.
15) A ________ is a nongovernmental organization that serves its customers but does not have
profit as an organizational goal.
A) business firm
B) subchapter S corporation
C) service agency
D) cooperative
E) nonprofit organization
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
nursytestbank.store
4
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
16) A ________ is a federal, state, county, or city unit that provides a specific service to its
constituents.
A) business firm
B) subchapter S corporation
C) government agency
D) cooperative
E) nonprofit organization
17) Social entrepreneurs who start new ventures such as Teach for America and Swipe Out
Hunger are usually structured as ________ rather than business firms.
A) business agencies
B) nonprofit organizations
C) government agencies
D) cooperatives
E) social service agencies
18) Which statement best describes the most significant difference between a for-profit
organization or a business firm and a nonprofit organization?
A) Business firms earn a profit each year while nonprofits operate at a deficit annually.
dr.j
, B) Nonprofit organizations do not carry on economic activities while business firms do.
C) Nonprofit organizations are concerned with social issues and business firms are not.
D) Both serve customers, but business firms seek a profit while nonprofit organizations do
not.
E) Nonprofit organizations are publicly owned and business firms are privately owned.
19) An example of a nonprofit organization is
A) the Food and Drug Administration.
B) CVS Pharmacies.
C) the medical technology company Medtronic, Inc.
D) the pharmaceutical company Pfizer, Inc.
E) the American Red Cross.
20) Cree markets LED (light-emitting diode) bulbs that replace the traditional incandescent
bulb.
A Cree LED bulb consumes 85 percent less energy and lasts for 25,000 hours. Cree is an
example of
A) a cooperative.
B) an industry.
C) a nonprofit organization.
D) a business firm.
E) a government agency.
DOWNLOAD THE Test Bank for Marketing 14th Edition Kerin
nursytestbank.store
5
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or
distribution without the prior
written consent of McGraw-Hill Education.
21) Swipe Out Hunger is an organization that encourages college students to donate unused
meal
points to help feed community members in need. With chapters on 23 campuses, it has
distributed more than 1.2 million meals. Swipe Out Hunger is an example of
A) a cooperative.
B) an industry.
C) a nonprofit organization.
D) a business firm.
E) a government agency.
22) ________ starts new ventures that address important social needs and issues. These new
enterprises are often organized as nonprofit organizations.
A) Corporate welfare
B) A social entrepreneur
C) Sustainable development
D) Cause marketing
E) Societal capitalism
23) Social entrepreneurs' ventures are usually structured as
dr.j
