100 test bank for marketing real people real choices 4th

100 Test Bank for Marketing Real People Real Choices 4th Edition by Solomon Mutiple Choice Questions - Page 1 As described in the opening vignette of Chapter 1, customers return to the

100 Test Bank for Marketing Real People Real Choices 4th

Edition by Solomon Mutiple Choice Questions - Page 1

As described in the opening vignette of Chapter 1, customers return

to the Yellow Point Lodge each year because it offers comfort and wonderful memories of years past This is an example of

2 b the production orientation

3 c the selling orientation

Which of the following lists the three components of the triple

bottom line orientation?

1 a the financial bottom line, the social bottom line, and the environmental bottom line

2 b the financial bottom line, the social bottom line, and the political bottom line

3 c the financial bottom line, the cultural bottom line, and the business bottom line

4 d the value bottom line, the service bottom line, and the business bottom line

5 e the product bottom line, the service bottom line, and the relationship bottom line

maintains that marketers must satisfy customers' needs

in ways that also benefit society and are profitable to the firm

1 a Value propositioning

2 b Customer relationship management (CRM)

3 c The social marketing concept

4 d A sales orientation

5 e Value chain management

The Internet has created a paradigm shift for businesses, moving

us toward an attention economy in which a company's success will

For an exchange to occur,

1 a at least two people or organizations must be willing to make a trade, and each must have something the other wants

2 b there must be one winner and one loser

3 c someone must make a financial profit

4 d the item must be tangible

5 e time utility must be created

To be part of the for a product, consumers must share a common need that can be satisfied by the product and have the resources, willingness, and authority to purchase the product

2 b a market in which there are more sellers than buyers

3 c a seller's market in which the seller focusses on production and distribution

Companies that have a orientation tend to be more

successful at making one-time sales than at building repeat

Marketers first identify consumer needs and then provide products that satisfy those needs This practice is referred to as

1 a the stakeholder orientation

2 b the marketing concept

3 c Total Quality Management

4 d the production orientation

5 e the marketing mix

A consumer paying for their purchases at a retail store with a credit card illustrates which of the following marketing concepts?

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

1 a Demand satisfaction

2 b Competitive advantage building

3 c Marketing

4 d Total Quality Management

5 e Value chain management

A perspective that consumer spending, and hence the economy, is driven by psychological attachment to brands, the relevance

ofinformation, and solutions is called

1 a customer relationship management

2 b Attention Economy

3 c market positioning

4 d creating sustainability

5 e increasing the lifetime value of customers

A orientation is a management philosophy that focuses

on ways to satisfy customers' needs and wants

1 a the selling orientation

2 b the production orientation

3 c Total Quality Management

4 d Sustainable Development

Carrie is shopping for a new watch She is looking at a Timex and

at a Rolex The fact that either watch will give her the correct time is

5 e The value chain

Buyers, sellers, investors, and community residents are all

considered in a company

1 a Value propositioning

2 b Customer relationship management (CRM)

3 c Differential benefit development

4 d Sales orientation

5 e Value chain management

refers to the benefits a customer receives from

purchasing a good or service

1 a Satisfaction

3 c Want

5 e strategic business units

A customer's desire for a product coupled with the buying power or resources to obtain that product is called a

100 Free Test Bank for Marketing Real People Real Choices 4th Canadian Edition by Solomon Mutiple

Choice Questions - Page 2

The relationship between marketing and _is a two-way street Marketers influence what is popular, but products and the communication of those products also reflect the key social beliefs and values of the times

1 a a mass market approach is favorable to a target market approach

2 b a target market approach is favorable to a mass market approach

3 c groups are smarter than the smartest people in them

4 d companies can make money by giving their products away for free

5 e consumers can generate value

Apple relied on its inventive product designers to create a

, a futuristic looking computer in a multitude of colors

are the tangible products that individuals purchase for personal or family use

Social networking is an integral part of which of the following?

1 a the triple bottom line orientation

2 b lifetime value of a customer

3 c the value chain

3 c the lifetime expectancy of the product the customer purchased

4 d the age of the customer to see whether she is likely to live long enough to utilize the product being sold

5 e the career path of the customer to see if she may move to a different geographic area and no longer purchase from the company

Which of the following refers to marketing strategies that support environmental stewardship by establishing an environmentally founded differential benefit in the minds of consumers?

It is most accurate to say that popular culture consists of the

that the mass market consumes

1 a myths

2 b social services

3 c consumer goods

4 d forms of entertainment

5 e consumed consumer behaviors

The main activities of value chain members include all of the

following EXCEPT

1 a bringing in materials to make the product

2 b converting the materials into the final product

3 c providing unbiased information about the product to consumers

4 d shipping out the final product

5 e servicing the product after purchase

Which of the following is a major marketing decision for most

companies?

1 a the type of metrics used to calculate ROI

2 b how many people to employ

3 c the geographic layout of the factory making the product

4 d which products to market to which consumers without turning off other consumers

5 e the accounting method used to report earnings

The is a document that describes the marketing

environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy

1 a marketing mix

2 b marketing plan

3 c value proposition

4 d value chain

5 e open source model

The second step in developing a competitive advantage is to turn a distinctive competency into a that is important to

Which of the following is true of Web 2.0?

1 a It categorizes entries according to a strict taxonomy.

2 b It gets updated constantly.

3 c It is based on the open source model.

4 d It is based on the wisdom of crowds model.

5 e It improves as the number of users decreases.

A is a group of people that have different needs, wants,

or preferences from other groups of people and would seek a

different value Proposition (solution)

1 a The marketing mix

2 b Total Quality Management

3 c Understand the Opportunity

4 d Customer relationship management

5 e Value proposition creation

is a decision process in which marketing managers determine the strategies that will help the firm meet its long-term objectives and then execute those strategies using the tools they have at their disposal

1 a Total Quality Management

2 b Sustainability

3 c Return on investment

4 d Marketing

5 e The open source model

Coca-Cola's unique and skillful marketing communications

represent the company's

1 a microcelebrities

2 b Crowdsourcing

3 c folksonomists

4 d open sourcers

5 e instapreneurs

A consists of all possible customers in a market

regardless of the differences in their specific needs and wants

The phenomenon of includes consumers creating their own ads and buying and selling products on eBay

1 a production orientation

2 b the triple bottom line orientation

3 c consumer-generated content

4 d socially responsible marketing

5 e the marketing concept

A is a series of activities involved in designing,

producing, marketing, delivering, and supporting any product

looks at how much profit they expect to make from

a particular customer, including each and every purchase he or she will make from them now and in the future

1 a bait-and-switch

2 b anticonsumption

3 c demarketing

4 d shrinkage

5 e lifetime value of a customer

provides reasons for customers to pay a premium for a firm's products and exhibit a strong brand preference

1 a An exchange

2 b A differential benefit

3 c An industrial good

4 d A promotion position

5 e A customer lifetime value

Which of these statements about mass marketing is true?

1 a A mass marketing strategy is always preferable to a target marketing strategy.

2 b The success of any organization's marketing efforts depends on its ability to engage in mass marketing.

3 c Mass marketing can be cost effective.

4 d Mass marketing allows marketers to develop products to satisfy the specific needs and wants of specific groups of customers.

5 e Automakers typically use a mass marketing strategy.

In addition to marketing activities, the includes business functions such as human resource management and technology development

5 e market position

100 Free Test Bank for Marketing Real People Real Choices 4th Canadian Edition by Solomon Mutiple

Choice Questions - Page 3

Which of the following is an example of a not-for-profit organization that would use marketing principles?

1 a a fast-food restaurant

2 b a manufacturer of bicycles

3 c a software developer

4 d an amusement park

5 e the Red Cross

A flour producer that identifies its mission as "the milling of finest flour” most likely has a orientation

1 a the wisdom of crowds

2 b the production concept

3 c the selling orientation

4 d open source modeling

5 e consumer-generated content

There are several different sports watches for cyclists When

compared to its competitors, the Bike Nashbar watch is the least expensive The Acumen Basicis the only one designed for older cyclists who prefer a larger display Each of these watches is

Which element of the marketing mix is most closely associated with

a company's supply chain?

When comparing itself to its competitors, Hidden Valley describes its Ranch dressing as the original This is the the

manufacturer has selected for the product

Which of the following is the best example of a service?

1 a the medical examination Jonathon had yesterday

2 b the sheet music purchased by the piano teacher

3 c the software Monica purchased from the Web site

4 d the cleaning supplies purchased for the veterinarian's office

5 e the t-shirt you got for running in a 5K race

Which of the following is a true statement about the Four Ps of the marketing mix?

1 a A decision about one of the Ps affects every other marketing-mix decision.

2 b Product is always the most important of the Four Ps.

3 c Place is typically the least important of the Four Ps.

4 d The Four Ps have little effect on a product's market position.

5 e The Four Ps are used to determine a product's target market.

Ruth Terry is a realtor In her ads, Terry offers the free use of a moving truck to every customer she helps either buy or sell a

house This free use of a moving truck is an example of a(n)

The element of the marketing mix communicates the value proposition using forms such as personal selling, advertising, coupons, and publicity

A is a distinctive group of customers within a larger

market who are similar to one another in some way and whose needs differ from other customers in the larger market

about chemicals in their foods, and people who consider

themselves innovators and trendsetters These three groups are

IBM manager Celia Moore coordinates IBM's long-standing

"Reinventing Education" program that involves intensive research into how educational institutions can use the fruits of new

technologies to transform what they do In the process, the program

5 e triple bottom line

Which of the following is an example of a transaction that might occur in business-to-business marketing?

1 a Maurice buys a new razor on his way home from work.

2 b The amateur gardener buys a new wheelbarrow.

3 c The retail outlet buys athletic shoes to sell in its store.

4 d The professional chef bakes a birthday cake for her son.

5 e Robyn's mother hires a math tutor to help Robyn pass algebra.

Chris just landed her dream job but realizes that her college

wardrobe is not going to work for her new professional position In this situation, Chris has a(n)

Two teachers purchased art supplies for their classes One paid

$103.45 for eight large boxes of crayons The other teacher

purchased ten identical boxes for $105.55 The second teacher got more for her money because she took advantage of a quantity discount This relates to element of marketing mix

Which of the following is the best example of a consumer good?

1 a the riding lawn mower purchased by the landscaping company

2 b the disposable diapers purchased by the new mother for her baby

3 c the paint purchased by the contractor

4 d the cookies purchased for the daycare center

5 e the art supplies purchased for the elementary school art center

Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months Greg's want now hasbecome a(n)

Alex paid for a(n) when he took his car to the carwash to

be washed and waxed

A is defined as a market segment on which an

organization focuses its marketing plan and toward which it directs its marketing efforts

funeral needs, so she must somehow first get their attention

Jolene's firm most likely uses the

1 a production orientation

2 b sustainability concept

3 c selling orientation

4 d consumer orientation

5 e social marketing concept

Jack provides heating and air conditioning equipment for office buildings He sells

The Four Ps are

1 a price, product, place, and promotion

2 b price, profit, production, and possession

3 c product, production, possession, and promotion

4 d product, promotion, price, and profit

5 e place, production, process, and profit

Seth's mother didn't want to have a climbing wall as a permanent feature in her backyard, but it was certainly convenient to rent one from the company that catered Seth's twelfth birthday party This is

an example of providing to the customer

1 a demand

2 b place and creation

3 c need

4 d benefit

5 e creation and possession

Shane pulled her car into the gas station just as the fuel gauge dropped below empty In this example, Shane benefited from the offered by the gas station

A new shampoo advertisement on television tells all of the

wonderful benefits the consumer will enjoy when using one

company's shampoo as opposed to another shampoo What is this company seeking to convey in this television commercial?

1 a the product's time utility

2 b the product's distinctive competency

3 c the company's production orientation