(Test Bank) Marketing

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Test Bank

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Test Bank for Marketing, The downloadable file consists of 926 pages, and the total size of the file is 13.17 MB. Purchase now only for highly discounted price.

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Study Note Preview

Chapter 01 Overview of Marketing Key 1. (p. 6) A feeling of physiological deprivation of the basic necessities of life, such as food, clothing, shelter, or safety is a(n): A. demand. B. want. C. exchange. D. necessity. E. need. Blooms: Knowledge Chapter - Chapter 01 #1 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 2. (p. 6) The particular way in which a person chooses to satisfy the requirement for any of the basic necessities of life is a(n): A. demand. B. want. C. exchange. D. necessity. E. need. Blooms: Knowledge Chapter - Chapter 01 #2 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 3. (p. 6) A non-governmental organization provides food and shelter to people who make their living on the streets. Food and shelter are included in the definition of: A. demand. B. want. C. exchange. D. necessity. E. need. Blooms: Comprehension Chapter - Chapter 01 #3 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 4. (p. 6) Human beings require clothes to cover their bodies. Some of them may wear designer clothes, while others may pick up cloth from the flea market. This example illustrates different ways to satisfy a basic requirement of life and describes the concept of: A. demand. B. want. C. exchange. D. necessity. E. need. Blooms: Comprehension Chapter - Chapter 01 #4 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 5. (p. 7) A company specializes in rock climbing. It aims its advertisements at men and women who are between the ages of 18 and 50. It also aims at overworked executives and people in managerial positions who need to get away from their jobs. These two categories constitute the ___________ for the company. A. commodity market B. stock market C. target market D. currency market E. artificial market Blooms: Comprehension Chapter - Chapter 01 #5 Difficulty: Moderate Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 6. (p. 7) A trader in the market trades his goods for the money that is paid for the goods offered by him. This is an example of: A. demand. B. want. C. exchange. D. necessity. E. need. Blooms: Comprehension Chapter - Chapter 01 #6 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 7. (p. 7) The customer segment or group to whom a firm is interested in selling its products and services is a(n): A. commodity market. B. stock market. C. target market. D. currency market. E. artificial market. Blooms: Knowledge Chapter - Chapter 01 #7 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 8. (p. 7) The trade of things of value between the buyer and the seller so that each is better off as a result is referred to as: A. demand. B. want. C. exchange. D. necessity. E. need. Blooms: Knowledge Chapter - Chapter 01 #8 Difficulty: Easy Gradable: automatic Learning Objective: 01-01 Define marketing and explain its core concepts 9. (p. 8) One main purpose of marketing is to create value by: A. hiring the right people for the promotion of the products being manufactured. B. informing potential buyers about a product or service. C. fixing the measure of sacrifice that a customer is willing to make in order to acquire a specific product. D. developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs. E. delivering the product on offer to the customer. Blooms: Knowledge Chapter - Chapter 01 #9 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 10. (p. 9) Which of the following holds true for the term goods? A. It refers to tangible customer benefits that are produced by people or machines and can be separated from the producer. B. It refers to intangible customer benefits that are produced by people or machines and cannot be separated from the producer. C. It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service. D. It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed. E. It refers to the groups of people who need or want a company's products or services and have the ability and willingness to buy them. Blooms: Knowledge Chapter - Chapter 01 #10 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 11. (p. 9) Which of the following holds true for the term services? A. It refers to the tangible customer benefits that are produced by people or machines and can be separated from the producer. B. It refers to the intangible customer benefits that are produced by people or machines and cannot be separated from the producer. C. It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service. D. It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed. E. It refers to the groups of people who need or want a company's products or services and have the ability and willingness to buy them. Blooms: Knowledge Chapter - Chapter 01 #11 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 12. (p. 9) Which of the following holds true for the term price? A. It refers to the tangible customer benefits that are produced by people or machines and can be separated from the producer. B. It refers to the intangible customer benefits that are produced by people or machines and cannot be separated from the producer. C. It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service. D. It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed. E. It refers to the groups of people who need or want a company's products or services and have the ability and willingness to buy them. Blooms: Knowledge Chapter - Chapter 01 #12 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 13. (p. 9) An accountant preparing financial statements must use a pencil to make all calculations and an eraser to correct errors. Pencils and erasers are examples of: A. ideas. B. goods. C. services. D. exchange. E. price. Blooms: Comprehension Chapter - Chapter 01 #13 Difficulty: Easy Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 14. (p. 9) An artist in an opera performs for the benefit of the audience. The live performance of the artist would be termed a(n): A. idea. B. good. C. service. D. exchange. E. price. Blooms: Comprehension Chapter - Chapter 01 #14 Difficulty: Easy Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 15. (p. 9) Jane wants to buy a bike. She spends a lot of time and energy trying to find the right bike. She does find one and then pays $200 to buy it. The time and energy spent along with the sum of money constitutes the: A. idea. B. good. C. service. D. exchange. E. price. Blooms: Comprehension Chapter - Chapter 01 #15 Difficulty: Easy Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 16. (p. 9) Since women constitute 90 percent of Karen's, a pharmacy chain's, customers, the chain decided to implement changes that would make the shopping experience more pleasant for them. Karen introduced shorter wait-times, wider and better-lit passageways, and more beauty products. Women constitute Karen's: A. primary commodity market. B. primary target market. C. primary currency market. D. secondary target market. E. niche market. Blooms: Comprehension Chapter - Chapter 01 #16 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 17. (p. 9) A commercial roofing company provides commercial roofing services. It also provides residential roof repair and replacement. The residential market provides solid revenue and constitutes the: A. primary commodity market. B. primary target market. C. primary currency market. D. secondary target market. E. niche market. Blooms: Comprehension Chapter - Chapter 01 #17 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 18. (p. 9) Sports Inc., a global sports brand, wants to deliver an effective campaign across many markets. The company wants to effectively engage the youth across key markets in Europe, and the campaign's main objective is to generate awareness about the company. These efforts are made by Sports Inc. to attract the youth, as they constitute the company's: A. primary commodity market. B. primary target market. C. primary currency market. D. secondary target market. E. niche market. Blooms: Application Chapter - Chapter 01 #18 Difficulty: Difficult Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 19. (p. 9) A toy store's reduced prices have successfully attracted children over the years. The toy store has traditionally offered lower prices than other stores and was also the first to expand into the suburbs and crowded downtown areas of large urban cities. Children are the toy store's: A. secondary target market. B. niche market. C. primary currency market. D. primary commodity market. E. primary target market. Blooms: Application Chapter - Chapter 01 #19 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 20. (p. 9) A company manufactures and sells baby products targeting new moms and dads, grandparents, and people who go to baby showers. Grandparents constitute the company's: A. primary commodity market. B. primary target market. C. primary currency market. D. secondary target market. E. niche market. Blooms: Application Chapter - Chapter 01 #20 Difficulty: Difficult Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 21. (p. 9) Art World conducts art contests for kindergarten classes across many schools. Art World encourages parents and siblings to be involved in these contests to encourage and support participants. Parents and siblings constitute the: A. primary commodity market. B. primary target market. C. primary currency market. D. secondary target market. E. niche market. Blooms: Application Chapter - Chapter 01 #21 Difficulty: Difficult Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 22. (p. 9) A fast-food restaurant aiming to attract children between the ages of 4 and 10 creates a tempting menu and cheerful environment. Since children are always accompanied by adults, the restaurant creates a separate, soundproof play area to give the parents some quiet time. The fast-food centre is now popular even with grandparents. Parents and grandparents are the: A. primary commodity market. B. primary target market. C. primary currency market. D. secondary target market. E. niche market. Blooms: Application Chapter - Chapter 01 #22 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 23. (p. 10) A company manufactures soaps. It selects a small number of retail outlets to distribute the product. This is an example of ___________ of the four Ps of marketing. A. people B. price C. place D. product E. promotion Blooms: Comprehension Chapter - Chapter 01 #23 Difficulty: Easy Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 24. (p. 10) A major sports goods company distributes its products via retailers. It offers attractive subsidies on its products to encourage retailers to sell higher volumes. This is an example of ___________ of the four Ps of marketing. A. people B. price C. place D. product E. promotion Blooms: Comprehension Chapter - Chapter 01 #24 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 25. (p. 10) A company is concerned with developing an efficient system for merchandise to be distributed in the right quantities, to the right locations, and at the right time in the most efficient way. It is making: A. people decisions. B. price decisions. C. place decisions. D. product decisions. E. promotion decisions. Blooms: Knowledge Chapter - Chapter 01 #25 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 26. (p. 10) All the activities necessary to get a product from the manufacturer or producer to the right customer when that customer wants it make up the ___________ component of the four Ps of marketing. A. people B. price C. place D. product E. promotion Blooms: Knowledge Chapter - Chapter 01 #26 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 27. (p. 10) The communication that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response is the ___________ component of the four Ps of marketing. A. people B. price C. place D. product E. promotion Blooms: Knowledge Chapter - Chapter 01 #27 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 28. (p. 12) The process in which businesses sell to consumers is referred to as: A. C2C marketing. B. C2B marketing. C. B2B marketing. D. B2C marketing. E. D2R marketing. Blooms: Knowledge Chapter - Chapter 01 #28 Difficulty: Easy Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 29. (p. 12) The process of selling merchandise or services from one business to another is referred to as: A. C2C marketing. B. C2B marketing. C. B2B marketing. D. B2C marketing. E. D2R marketing. Blooms: Knowledge Chapter - Chapter 01 #29 Difficulty: Easy Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service 30. (p. 12) A daycare business provides babysitting services as well as structured preschool education and learning stimulation. This is an example of: A. B2C marketing. B. D2R marketing. C. B2B marketing. D. C2C marketing. E. C2B marketing. Blooms: Comprehension Chapter - Chapter 01 #30 Difficulty: Moderate Gradable: automatic Learning Objective: 01-02 Illustrate how marketers create value for a product or service