Test Bank For Marketing: Real People, Real Choices 10th Edition All Chapters - 9780135199893

Test Bank For Marketing: Real People, Real Choices 10th Edition
Chapter 1 Welcome to the World of Marketing: Create and Deliver Value



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




1

,Test Bank For Marketing: Real People, Real Choices 10th Edition
Chapter 1 Welcome to the World of Marketing: Create and Deliver Value


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



2

,Test Bank For Marketing: Real People, Real Choices 10th Edition
Chapter 1 Welcome to the World of Marketing: Create and Deliver Value


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




3

, Test Bank For Marketing: Real People, Real Choices 10th Edition
Chapter 1 Welcome to the World of Marketing: Create and Deliver Value


11) For an exchange to occur, ________.
A) at least two people or organizations must be willing to make a trade, and each must have
something the other wants
B) there must be one winner and one loser
C) someone must make a financial profit
D) the item that is exchanged must be a tangible product
E) time utility must be created for the purchaser
Answer: A
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

12) Which element of the marketing mix is most closely associated with a company's channel of
distribution?
A) production
B) place
C) price
D) profit
E) promotion
Answer: B
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

13) ________ are intangible products that we pay for and use but never own.
A) Consumer goods
B) Services
C) Industrial goods
D) E-commerce products
E) Value products
Answer: B
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing

14) ________ are the tangible products that individuals purchase for personal or family use.
A) Consumer services
B) Consumer goods
C) Value propositions
D) Utilities
E) Industrial goods
Answer: B
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed and the value of
marketing



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