TESTBANK - Marketing: Real People, Real Choices, 10th Edition by Solomon

, Marketing: Real People, Real Choices, 10e (Solomon)
Chapter 1 Welcome to the World of Marketing: Create and Deliver Value


1) A is the ultimate user of a good or service.
A) stakeholder
B) market
C) target market
D) marketer
E) consumer
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

2) is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large.
A) Demand satisfaction
B) Competitive advantage building
C) Marketing
D) Total quality management
E) Value chain management
Answer: C
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing
AACSB: Written and oral communication

3) The consists of the tools an organization uses to create a desired response among a
set of predefined consumers.
A) sharing economy
B) market position
C) value proposition
D) marketplace
E) marketing mix
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

,4) The four Ps are .
A) price, product, place, and promotion
B) price, profit, production, and possession
C) product, production, possession, and promotion
D) product, promotion, price, and profit
E) place, production, process, and profit
Answer: A
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing
AACSB: Written and oral communication

5) Which of the following is a true statement about the four Ps of the marketing mix?
A) A decision about one of the Ps affects every other marketing-mix decision.
B) Price is always the most important of the four Ps.
C) Place is typically the least important of the four Ps.
D) The four Ps have little effect on a product's market position.
E) The four Ps are used to determine a product's target market.
Answer: A
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing
AACSB: Written and oral communication

6) Which of the following is part of the product element of the marketing mix?
A) a quality discount
B) a store coupon
C) a newspaper advertisement
D) the packaging
E) publicity releases
Answer: D
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

7) A is a good, service, idea, place, or person–whatever is offered for sale in the
exchange.
A) product
B) place
C) utility
D) benefit
E) demand
Answer: A
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

8) is the assignment of a product's value, or the amount the consumer must exchange

, to receive the offering.
A) Promotion
B) Price
C) Benefit
D) Need
E) Utility
Answer: B
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

9) The element of the marketing mix informs consumers about products and
encourages them to buy these products using forms such as personal selling, advertising,
coupons, and publicity.
A) production
B) place
C) price
D) distribution
E) promotion
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing
AACSB: Written and oral communication

10) Marketing communication is also referred to as .
A) production
B) selling orientation
C) societal marketing
D) exchange
E) promotion
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing
AACSB: Written and oral communication