Marketing: Real People, Real Choices, 12e (Solomon) Chap br br br br br br br
ter 1 br Welcome to Marketing in the Modern World br br br br br br
1) A is the ultimate user of a good or service.
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A) stakeholder
B) market
C) target market br
D) marketer
E) consumer Ans br
wer: E Difficult
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y: Easy
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LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
2) is the activity, set of institutions, and processes for creating, communicating,
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delivering, and exchanging offerings that have value for customers, clients, partners, and society at
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large.
A) Demand satisfaction br
B) Competitive advantage building br br
C) Marketing
D) Total quality management br br
E) Value chain management br br br
Answer: C b r
Difficulty: Easy b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
AACSB: Written and oral communication br br br
3) The br
consists of the tools an organization uses to create a desired response among a set of predefined
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consumers.
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A) sharing economy br
B) market position br
C) value proposition br
D) marketplace
E) marketing mix br b
Answer: E
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Difficulty: Easy b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
1
Copyright © 2025 Pearson Education, Inc.
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,4) The four Ps are discussed as separate parts of a firm's marketing strategy, but product, price, pr
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omotion, and place decisions are actually
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A) contradictory
B) interdependent
C) unrelated
D) disconnected
E) singular br
Answer: b r
B
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
AACSB: Written and oral communication br br br
5) Which of the following is a true statement about the four Ps of the marketing mix?
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A) A decision about one of the Ps affects every other marketing-mix decision.
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B) Price is always the most important of the four Ps.
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C) Place is typically the least important of the four Ps.
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D) The four Ps have little effect on a product's market position.
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E) The four Ps are used to determine a product's target market.
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Answer: A b r
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
AACSB: Analytical thinking br
6) Which of the following is part of the place element of the marketing mix?
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A) a quality discount
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B) a store coupon
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C) a newspaper advertisement
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D) a local retailer
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E) publicity releases br b
Answer: D
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Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
7) The customer's overall assessment of every interaction the customer has had with a business is k
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nown as br . br
A) the customer experience
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B) customer engagement br
C) e-commerce
D) the marketing mix
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E) collaborative consumption br b
Answer: A
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Difficulty: Easy b r b r
marketing
2
Copyright © 2025 Pearson Education, Inc. br br br br br
,LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
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marketing
3
Copyright © 2025 Pearson Education, Inc.
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, 8) is the assignment of a product's value, or the amount the consumer must exchange t
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o receive the offering.
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A) Promotion
B) Price
C) Benefit
D) Need
E) Utility A br
nswer: B b r
Difficulty: Easy b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
9) Free delivery of a good is considered part of which element of the marketing mix?
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A) product
B) place
C) price
D) distribution
E) promotion
Answer: A
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Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
AACSB: Written and oral communication br br br
10) Marketing communication is also referred to as . br br br br br br br
A) production
B) selling orientation br
C) societal marketing br
D) exchange
E) promotion An br
swer: E Difficu b r br
lty: Easy b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
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arketing
AACSB: Written and oral communication br br br
11) For an exchange to occur, br . br br br br
A) at least two people or organizations must be willing to make a trade, and each must have so
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mething the other wants br br br
B) there must be one winner and one loserbr br br br br br br
C) someone must make a financial profit br br br br br
D) the item that is exchanged must be a tangible product
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E) time utility must be created for the purchaser
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Answer: A b r
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
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marketing
4
Copyright © 2025 Pearson Education, Inc.
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ter 1 br Welcome to Marketing in the Modern World br br br br br br
1) A is the ultimate user of a good or service.
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A) stakeholder
B) market
C) target market br
D) marketer
E) consumer Ans br
wer: E Difficult
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y: Easy
b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
2) is the activity, set of institutions, and processes for creating, communicating,
br br br br br br br br br br
delivering, and exchanging offerings that have value for customers, clients, partners, and society at
br br br br br br br br br br br br br br
large.
A) Demand satisfaction br
B) Competitive advantage building br br
C) Marketing
D) Total quality management br br
E) Value chain management br br br
Answer: C b r
Difficulty: Easy b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
AACSB: Written and oral communication br br br
3) The br
consists of the tools an organization uses to create a desired response among a set of predefined
br br br br br br br br br br br br br br br br b
consumers.
r
A) sharing economy br
B) market position br
C) value proposition br
D) marketplace
E) marketing mix br b
Answer: E
r b r
Difficulty: Easy b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
1
Copyright © 2025 Pearson Education, Inc.
br br br br br
,4) The four Ps are discussed as separate parts of a firm's marketing strategy, but product, price, pr
br br br br br br br br br br br br br br br br
omotion, and place decisions are actually
br . br br br br br
A) contradictory
B) interdependent
C) unrelated
D) disconnected
E) singular br
Answer: b r
B
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
AACSB: Written and oral communication br br br
5) Which of the following is a true statement about the four Ps of the marketing mix?
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A) A decision about one of the Ps affects every other marketing-mix decision.
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B) Price is always the most important of the four Ps.
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C) Place is typically the least important of the four Ps.
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D) The four Ps have little effect on a product's market position.
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E) The four Ps are used to determine a product's target market.
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Answer: A b r
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
AACSB: Analytical thinking br
6) Which of the following is part of the place element of the marketing mix?
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A) a quality discount
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B) a store coupon
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C) a newspaper advertisement
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D) a local retailer
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E) publicity releases br b
Answer: D
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Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
7) The customer's overall assessment of every interaction the customer has had with a business is k
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nown as br . br
A) the customer experience
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B) customer engagement br
C) e-commerce
D) the marketing mix
br br
E) collaborative consumption br b
Answer: A
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Difficulty: Easy b r b r
marketing
2
Copyright © 2025 Pearson Education, Inc. br br br br br
,LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
b r b r br br br br br br br br br br br br br br br
marketing
3
Copyright © 2025 Pearson Education, Inc.
br br br br br
, 8) is the assignment of a product's value, or the amount the consumer must exchange t
br br br br br br br br br br br br br br
o receive the offering.
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A) Promotion
B) Price
C) Benefit
D) Need
E) Utility A br
nswer: B b r
Difficulty: Easy b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
9) Free delivery of a good is considered part of which element of the marketing mix?
br br br br br br br br br br br br br br
A) product
B) place
C) price
D) distribution
E) promotion
Answer: A
br b r
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
AACSB: Written and oral communication br br br
10) Marketing communication is also referred to as . br br br br br br br
A) production
B) selling orientation br
C) societal marketing br
D) exchange
E) promotion An br
swer: E Difficu b r br
lty: Easy b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of m
b r br br br br br br br br br br br br br br br br
arketing
AACSB: Written and oral communication br br br
11) For an exchange to occur, br . br br br br
A) at least two people or organizations must be willing to make a trade, and each must have so
br br br br br br br br br br br br br br br br br
mething the other wants br br br
B) there must be one winner and one loserbr br br br br br br
C) someone must make a financial profit br br br br br
D) the item that is exchanged must be a tangible product
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E) time utility must be created for the purchaser
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Answer: A b r
Difficulty: Moderate b r b r
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
b r b r br br br br br br br br br br br br br br br
marketing
4
Copyright © 2025 Pearson Education, Inc.
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