89 test bank for marketing 4th edition by grewal multiple choice questions

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89 Test Bank for Marketing 4th Edition by Grewal

Multiple Choice Questions - Page 1

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

1 A marketing has no responsibility for supply chain management.

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

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

4 D many of the activities take place behind the scenes.

5 E supply chain management is already transparent.

When referring to "exchange," marketers are focusing on

1 A the location where products and services are traded.

2 B the price charged, adjusted for currency exchange rates.

3 C location-based tactics for creating value.

4 D promotional offers designed to stimulate barter.

5 E the trading of things of value.

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

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

in which era of the evolution of marketing?

1 A Production-oriented

2 B Sales-oriented

1 A all parties to an exchange should be satisfied.

2 B promotion is the most important consideration, followed by pricing

decisions.

3 C decisions are made regarding how a product is designed.

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

5 E distribution is controlled by customers.

The traditional marketing channel through which consumers most often find and purchase goods and services is known as

The fundamental goal of marketers when creating goods, services,

or combinations of both, is to:

1 A defeat the competition.

2 B serve all consumers.

3 C operate according to government regulations.

4 D stimulate short-term sales.

5 E create value.

The marketing goal of getting the "right quantities to the right

locations, at the right time" is:

1 A communicating the value proposition.

2 B supply chain management.

3 C creating value.

4 D capturing value.

5 E price and performance management.

Four Winds Art Gallery recently began offering appraisals of

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

1 A expanding from offering just services to also offering goods.

2 B implementing a market segmentation strategy.

3 C capturing value through multiple pricing strategies.

4 D expanding from offering just goods to also offering services.

5 E increasing customer value through inflated appraisal evaluations.

Effective promotion enhances a product or service's

1 A supply chain management system.

2 B wholesaling capabilities.

3 C perceived value.

4 D design features.

5 E trialability.

is communication by a marketer that informs,

persuades, or reminds potential customers about a product

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

1 A supply chain management.

2 B a transactional orientation.

3 C wholesaling.

4 D value cocreation.

5 E endless chain marketing.

Xavier is analyzing potential market segments He should carefully seek potential customers who have both an interest in his products and

1 A a thorough knowledge of his brand messages.

2 B the ability to buy them.

3 C knowledge of competing products.

4 D the ability to negotiate discounts.

5 E are removed from traditional marketing alternatives.

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

Calvin Klein is attempting to

1 A influence social norms regarding sexuality.

2 B encourage consumers to participate in product redesign.

3 C stimulate supply chain management cooperation.

4 D increase the perceived value of their products.

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

1 A provides intangible benefits.

2 B can be physically touched.

3 C is always less expensive than a corresponding service.

4 D generates greater interest among consumers.

5 E is more quickly forgotten by consumers.

Jami sells construction equipment Whenever she calls on her building contractor customers, she asks if they are having any problems In doing so, Jami is addressing which of the following core aspects of marketing?

1 A Satisfying customer needs and wants

2 B The exchange function of marketing

3 C Product, place, promotion, and price decisions

4 D Decisions about the setting in which marketing takes place

5 E Creating value

Delivering the value proposition is also known as

1 A endless chain marketing.

2 B a transactional orientation.

3 C wholesaling.

4 D product design.

5 E supply chain management.

Marketers involved in supply chain management are constantly balancing

1 A the goal of promotional effectiveness against ethical advertising standards.

2 B the problem of price maximization against cost efficiency.

3 C the goal of minimizing costs against satisfying the service levels customers expect.

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

5 E the goal of efficiency against the price charged by competitors.

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 A Developing a promotional plan

2 B Managing the exchange function of marketing

3 C Making product decisions

4 D Deciding where and how to sell the product

5 E Pricing the product

Henriette offers financial counseling and management on a fee-onlybasis She has found that different customers are willing to pay different rates for her services This shows that her pricing

decisions should depend primarily on

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

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

3 C how different customers perceive the value of her services.

4 D changes in the economy.

5 E how much her competitors charge for similar services.

Marketers must determine the price of a product carefully, based onpotential buyers' beliefs about

1 A its value.

2 B the environment.

3 C the cost to manufacture the product.

4 D the economic outlook.

5 E the product's new advertising campaign.

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

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 A communicating the value proposition.

2 B supply chain management.

3 C creating value.

4 D capturing value.

5 E value cocreation.

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

1 A it is considered too quantitative.

2 B marketing has no responsibility for supply chain management.

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

4 D it only takes place in large, urban areas.

5 E many of the activities take place behind the scenes.

Which of the following is a core aspect of marketing?

1 A Satisfying as many needs as possible

2 B Creating a product that everyone will want to buy

3 C Setting prices lower than all competitors

4 D Making product, place, promotion, and price decisions

5 E Increasing the company's profit

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

1 A supply chain management

1 A only the actual price they pay at the register.

2 B the value of their time and energy.

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

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

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

89 Free Test Bank for Marketing 4th Edition by Grewal Multiple Choice Questions - Page 2

The "Got Milk" advertising campaign, designed to increase

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

1 A the lowest cost option.

2 B represented by brand names.

3 C the highest priced alternative.

4 D everyday low prices.

5 E what you get for what you give.

In delivering value, marketing firms attempt to find the most

desirable balance between

1 A the need for value and the perception of value.

2 B explicit versus implicit value.

3 C providing benefits to customers and keeping costs down.

4 D the desire to satisfy customers and the need to keep customers from running the company.

5 E the need for product improvement and the need for advertising.

Many U.S companies first discovered marketing during the

1 A sharing information across the organization.

2 B balancing customers' benefits and costs.

3 C evaluating strategic competitive partnerships.

4 D building relationships with government regulators of marketing institutions.

5 E keeping prices below those charged by competitors.

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 principle of

1 A sharing information across the organization.

2 B balancing customers' benefits and costs.

3 C evaluating strategic competitive partnerships.

4 D building relationships with customers.

5 E keeping prices below those charged by competitors.

The evolution of marketing progressed along the following

continuum:

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

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

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

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

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

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

through their existing dealer networks The car manufacturers

considered switching from to marketing

1 A sharing information across the organization.

2 B balancing its customers' benefits and costs.

3 C evaluating strategic competitive partnerships.

4 D building relationships with customers.

5 E keeping the faculty members happy.

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

During the market-oriented era

1 A a good product would sell itself.

2 B the customer was king.

3 C marketing was more important than production.

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

5 E firms focused on value.

Auction sites like eBay have increased opportunities for

1 A improve products and services at the same cost.

2 B increase prices to increase revenue.

3 C offset higher hotel rates with lower restaurant prices.

4 D reduce customer expectations through reduced service.

5 E any of these.

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

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

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

1 A production-oriented

2 B sales-oriented

3 C market-oriented

Which of the following is NOT true about marketing ideas?

1 A Opinions, philosophies, intellectual concepts, and even thoughts can be effectively marketed.

2 B The marketing of ideas does not involve true exchange of value.

3 C Ideas can be "purchased" by convincing someone to change his or her behavior.

4 D Marketing can be directed toward primary and secondary targets to

increase knowledge and change behavior.

5 E Value can be created through changing behaviors.

A buyer's representative in a real estate purchase was asked by hercustomer, "Is this a fair offer?" She responded, "You are only trying

to buy one house Do you want to offer more money than you have to?" The buyer's representative recognized that in most situations, home buyers are engaged in

Value-driven firms constantly measure the that

customers perceive, compared to the prices of their offerings

1 A the schedules these airlines offer to be the most convenient in the industry.

2 B the long-term relationships established by these airlines to be a critical benefit.

3 C the prices to be slightly lower, but not low enough to have much influence.

4 D the benefit of lower prices to be greater than the cost of reduced services and less convenience.

5 E the major airlines to be worthless.

During the era, firms had excess capacity and used personal selling and advertising to generate customers

Retailers accumulate merchandise from producers in large amountsand sell to consumers in smaller amounts Retailers function as

Marketing enriches society by

1 A focusing solely on maximizing profits.

2 B sponsoring charitable events.

3 C recognizing that the firm can do very little by itself, and so it should stay focused on its own core competencies.

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

5 E coordinating marketing functions with other functional areas in the

company.

Many firms with complex products have "missionary" salespeople who assist customers with problems and implementation programs These salespeople rarely sell products but often become involved inand knowledgeable about specific customers' needs and wants These salespeople focus on a(n) orientation with their customers

1 A transactional

2 B external

3 C relational

4 D internal

5 E divisional

The primary purpose of the plan is to specify the

marketing activities for a specific time

marketing?

1 A Marketing helps new ventures organize, operate, and assess risk.

2 B Marketers help address unmet customer needs, regardless of the size of the firm.

3 C Marketing focuses on the product, but only as one element Three other areas are Promotion, Price, and Place.

4 D Marketers are skilled at communicating the value of the product to potential customers.

5 E Marketing isn't essential now, but it will be in a year or two when the

product takes off.

Georgia, the outside sales rep for a major building supply company,reads a report stating that building permits are down dramatically in her sales territory She had noticed that things were slowing down, but now she has data confirming her impression Based on this information, one important function Georgia should provide is

1 A pushing her customers to buy products whether they need them or not.

2 B advising the production and purchasing departments to produce or order smaller quantities of products.

3 C assisting customers in product recall confirmations.

4 D avoiding contact with competing firms in order to maximize value-driven marketing.

5 E estimating profit per sale to determine whether or not the firm can survive the slowdown.

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

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