89 test bank for m marketing 4th edition by grewal

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89 Test Bank for M Marketing 4th Edition by Grewal Multiple Choice Questions - Page 1

Some discount stores put products in large bins and let consumers hunt and find bargains The price these consumers pay includes

1 only the actual price they pay at the register.

2 the value of their time and energy.

3 the excitement they experience in finding an item they desire.

4 the savings to the store of not having to display the products neatly on

shelves.

5 the time the product was full price and didn't sell.

Xavier is analyzing potential market segments He should carefully seek potential customers who have both an interest in his products and a thorough knowledge of his brand messages

1 the ability to buy them.

2 knowledge of competing products.

3 the ability to negotiate discounts.

4 are removed from traditional marketing alternatives.

When a T-shirt manufacturer states, "We only sell it in black

because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular

in which era of the evolution of marketing?

era of marketing

The basic difference between a good and a service is that a good

1 provides intangible benefits.

2 can be physically touched.

3 is always less expensive than a corresponding service.

4 generates greater interest among consumers.

5 is more quickly forgotten by consumers.

By promoting perfume based on youth, style, and sex appeal,

Calvin Klein is attempting to

1 influence social norms regarding sexuality.

2 encourage consumers to participate in product redesign.

3 stimulate supply chain management cooperation.

4 increase the perceived value of its products.

5 demonstrate social responsibility.

Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students.These bulletin boards increase marketing

is communication by a marketer that informs,

persuades, or reminds potential customers about a product

1 Pricing

2 Promotion

3 Placement

4 A relational orientation

aspects of marketing, Julia is relieved to see that in marketing

1 all parties to an exchange should be satisfied.

2 promotion is the most important consideration, followed by pricing decisions.

3 decisions are made regarding how a product is designed.

4 customers are not considered until the product is ready for sale.

5 distribution is controlled by customers.

The marketing goal of getting the right quantities to the right

locations at the right time relates to

1 communicating the value proposition.

2 supply chain management.

3 service marketing.

4 capturing value.

5 price and performance management.

Effective promotion enhances a product or service's

1 supply chain management system.

2 wholesaling capabilities.

3 perceived value.

4 design features.

5 trialability.

The four Ps make up the marketing mix, which is the set of activities that the firm uses to respond to the wants and

needs of its target markets

Whenever Valerie has a new massage therapy customer, she

invites the person to be on her e-mail distribution list In the

process, in addition to exchanging her massage therapy service for payment, Valerie is gathering

3 the cost to manufacture the product.

4 the economic outlook.

5 the product's new advertising campaign.

When considering career choices in marketing, many students overlook supply chain management because

1 it is considered too quantitative.

2 marketing has no responsibility for supply chain management.

3 companies generally outsource these activities, so there are rarely supply chain jobs available.

4 it only takes place in large, urban areas.

5 many of the activities take place behind the scenes.

Auction sites like eBay have increased opportunities for

When referring to exchange, marketers are focusing on

1 the location where products and services are traded.

2 the price charged, adjusted for currency exchange rates.

3 location-based tactics for creating value.

4 promotional offers designed to stimulate barter.

5 the trading of things of value.

UPS, FedEx, DHL, and other shipping companies support other firms' marketing goals

1 supply chain management

2 value communication

3 value capture

4 retail management

5 promotion

Yesenia, the new university course scheduling manager, is

struggling with adjustments to the fall schedule She is trying to determine how to offer the classes students need at the times when

students need them Yesenia is struggling with the marketing

function of

1 communicating the value proposition.

2 supply chain management.

Which of the following is a core aspect of marketing?

1 satisfying as many needs as possible

2 creating a product that everyone will want to buy

3 setting prices lower than all competitors

4 making product, place, promotion, and price decisions

5 increasing the company's profit

Brian is struggling with the choice of publishing his new book, How

to Cook Polish Barbeque, as an e-book or a paperback Brian is addressing which core marketing aspect?

1 developing a promotional plan

2 managing the exchange function of marketing

3 making product decisions

4 deciding where and how to sell the product

5 pricing the product

Henry Ford's statement, "Customers can have any color they want

so long as it's black," typified the era of marketing

Marketing has traditionally been divided into a set of four

interrelated decisions known as the marketing mix, or four Ps,

including all of the following EXCEPT

The Got Milk advertising campaign, designed to increase

consumption of milk, was intended to help market a(n)

Near the end of the model year, Move-Them-Out automobile

dealership had an unusually high inventory level The manager increased her advertising spending and gave extra incentives to its

salespeople Move-Them-Out operates as if it were in the

Jami sells construction equipment Whenever she calls on her

building contractor customers, she asks whether they are having any problems In doing so, Jami is addressing which of the followingcore aspects of marketing?

1 Satisfying customer needs and wants

2 The exchange function of marketing

3 Product, place, promotion, and price decisions

4 Decisions about the setting in which marketing takes place

5 Creating value

As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks The car manufacturers

considered switching from to marketing

Four Winds Art Gallery recently began offering appraisals of

customers' art collections, in addition to continuing to sell paintings Four Winds is

1 expanding from offering just services to also offering goods.

2 implementing a market segmentation strategy.

3 capturing value through multiple pricing strategies.

4 expanding from offering just goods to also offering services.

5 increasing customer value through inflated appraisal evaluations.

Marketers involved in value-oriented marketing are constantly

balancing

1 promotional effectiveness with ethical advertising standards.

2 the problem of price maximization with cost efficiency.

3 customer benefits with costs of their offerings.

4 the desire to achieve with the need for a stable source of supply.

5 the goal of efficiency with the price charged by competitors.

Marketing involves all of the following EXCEPT

decisions should depend primarily on

1 choosing an average price that she will charge all her clients.

2 changes in technology allowing consumers to manage their own affairs.

3 how different customers perceive the value of her services.

4 changes in the economy.

5 how much her competitors charge for similar services.

Many U.S companies first discovered marketing during the

The evolution of marketing progressed along the following

continuum:

1 sales, marketing, value-based marketing, production.

2 marketing, value-based marketing, production, sales.

3 value-based marketing, production, sales, marketing.

4 production, sales, marketing, value-based marketing.

5 sales, value-based marketing, marketing, production.

Marketing efforts designed to get the product or service to the right customer, when that customer wants it, are called

1 supply chain management.

2 a transactional orientation.

3 wholesaling.

4 value cocreation.

5 endless chain marketing.

Marketing channel management is also known as

1 endless chain marketing.

2 a transactional orientation.

3 wholesaling.

4 product design.

5 supply chain management.

During the era, manufacturers and retailers began to focus on what consumers wanted and needed before they

designed, made, or attempted to sell their products

During the market-oriented era,

1 a good product would sell itself.

2 the customer was king.

3 marketing was more important than production.

4 advertising and personal selling were emphasized to make the sale.

5 firms focused on value.

The fundamental goal of marketers when creating goods, services,

or combinations of both, is to

1 defeat the competition.

2 serve all consumers.

3 operate according to government regulations.

4 stimulate short-term sales.

5 create value.

The importance of supply chain management is often overlooked in the study of marketing because

1 marketing has no responsibility for supply chain management.

2 supply chain management doesn't add much value for customers.

3 companies do not want customers to know anything about the supply chain.

4 many of the activities take place behind the scenes.

5 supply chain management is already transparent.

The idea that a good product will sell itself is associated with the era of marketing

89 Free Test Bank for M Marketing 4th Edition by

Grewal Multiple Choice Questions - Page 2

To become a more value-driven organization, Pokrah University is holding regular coffee-hour discussions with its students and

surveying its graduates regarding students' educational needs and desires Pokrah University is becoming more value driven through

1 sharing information across the organization.

2 balancing its customers' benefits and costs.

3 evaluating strategic competitive partnerships.

4 building relationships with customers.

5 keeping the faculty members happy.

Marketing enriches society by

1 focusing solely on maximizing profits.

2 sponsoring charitable events.

3 recognizing that the firm can do very little by itself, so it should stay focused

on its own core competencies.

4 facilitating the smooth flow of goods through the supply chain.

5 coordinating marketing functions with other functional areas in the company.Which marketing activity is most directly served by the promotion element of the marketing mix?

2 customer relationship management.

3 a transactional marketing orientation.

4 supply chain management.

5 typical production era marketing practices.

Jeff opened a sporting apparel store and signed a lease on the property He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will

conduct Based on this description, which aspect of the marketing mix does he still need to work on?

When an accounting firm provides an online training module

showcasing real-life decision lapses and their negative effect on thecompany, it is trying to encourage what type of behavior from its employees?

a catalog with a larger section of bedding items than do customers who mostly order kitchen tools This is an example of

1 C2C marketing.

2 customer relationship management.

3 a transactional marketing orientation.

4 supply chain management.

5 typical production-oriented era marketing practices.

Which element of the marketing mix is most relevant to the activity

3 a price-value comparison matrix.

4 supply chain synergy.

5 a marketing value transaction focus.

Serena studies her customer profiles, market research data,

complaints, and other information, attempting to better understand what her customers want Serena operates in the era

of marketing

5 value proposition management.

As owner of a retail franchise food store, Mary Gray purchases supplies based on specials advertised nationally throughout the franchise system One Monday, she was surprised to find

customers asking for specials she hadn't been informed of in

advance The franchise company failed to live up to the

value-driven activity of

1 sharing information across the organization.

2 balancing customers' benefits and costs.

3 evaluating strategic competitive partnerships.

4 building relationships with customers.

5 keeping prices below those charged by competitors.

The goal of customer relationship management is to manage every customer relationship differently

1 manage every customer relationship to maximum short-term profitability.

2 eliminate customers who are profitable, but not highly profitable.

3 identify and build loyalty among a firm's customers.

4 generate relationships with all of a firm's customers.

Internet sites, physical stores, and kiosks are most closely

associated with which element of the marketing mix?

1 place

5 important only for new products.

People who initiate, organize, operate, and assume the risk of a business venture are called

Value-driven firms constantly measure the that

customers perceive, compared to the prices of their offerings

1 information

2 benefits

3 relationships

4 rebates

5 merchandise

Yolanda is the new restaurant manager in a major hotel When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or

1 improve products and services at the same cost.

2 increase prices to increase revenue.

3 offset higher hotel rates with lower restaurant prices.

4 reduce customer expectations through reduced service.

5 lower the quality and the price.

Traditionally, marketing activities have been divided into product, price, place, and promotion Select the term that best describes the four Ps

The process of value , in which customers collaborate

in product design, often provides additional value to the firm's

3 product

4 price

5 place

In the broadest terms, the marketplace refers to

1 wholesale and retail environments.

2 brick-and-mortar stores and the Internet.

3 the four Ps.

4 channels that are accessible to a given customer.

5 the world of trade.

The primary purpose of the plan is to specify the

marketing activities for a specific time

5 none of these—marketing was never an afterthought.

If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone

number, and email to participate, the radio station is

1 the lowest cost option.

2 represented by brand names.

3 the highest priced alternative.

4 everyday low prices.

5 what you get for what you give.

Trey sells consumer electronics He knows his customers weigh thecosts versus the benefits associated with the different options

available He decides which products to offer and what prices to charge based on the way his customers think Trey operates as if

he were in the era

listening and expressing concern Finally, after more than two

years, the customer gave Benjamin an order Benjamin was

providing the important marketing function of

1 advising production on how much product to make.

2 alerting the logistics department when to ship products.

3 engaging customers and developing long-term relationships.

4 identifying opportunities to expand.

5 synthesizing and interpreting sales, accounting, and customer-profile data.

At one point in the evolution of marketing, the United States entered

a buyer's market and the customer became king Which era is

being described?

1 market-oriented

2 sales-oriented

3 production-oriented