158 test bank for marketing real people real decisions 3rd canadian edition by solomon

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158 Test Bank for Marketing Real People Real

Decisions 3rd Canadian Edition by Solomon

Mutiple Choice Questions - Page 1

As defined in the text, is what the customer gets in

the purchase, use, and ownership of a

product, relative to the costs and sacrifices incurred

As defined in the text, a is the desire to satisfy nee

ds in specific ways that are culturally

and socially influenced

The marketing concept suggests that marketing exists to cre

ate for consumers where it is

neither efficient or effective for consumers to attempt t

o satisfy their needs themselves

is customersʹ desire for products coupled with the

resources to obtain them

An assessment of what the customer gets from a product rel

ative to what they have to give up to

purchase and consume it, is known as

1 A) cost benefit ratio analysis

2 B) cognitive dissonance

3 C) delivered benefits

4 D) customer value

5 E) opportunity cost

The opening vignette on Richard Hill, owner of Yellow Point

Lodge, described the long standing

relationships that Yellow Point had with their guests T his would be a good illustration of a

company practicing the

Paul is very interested in replacing his old television with a la

rger, big screen LCD-panel television

He mentally compares the enjoyment that he and his fr iends will receive from the new television

against the extra overtime that he will have to work to

be able to pay for it, and having to put off

re-shingling the roof on his house However, he still decid

es that it will be worth it Paul is trying

to determine his perception of regarding the new television

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 an example of a

1 A) want

2 B) benefit

3 C) demand

4 D) drive

5 E) need

A consumer paying for their purchases at a retail store with a

credit card illustrates which of the

following marketing concepts?

1 A) a benefit

2 B) a desire to spend money

3 C) a need

4 D) an exchange of value

5 E) none of the above

As defined in the text, is the benefits a customer re

ceives from buying and using a good

or service in relation to the costs and sacrifices of buyi

ng and using it

As defined in the text, a is the outcome sought by

a customer that motivates buying behaviour

Wearing the official jersey or other clothing of your favourite

sports team could be considered an

example of satisfying a for self

As described in the opening vignette of Chapter 1, customer

s return to the Yellow Point Lodge

each year because it offers comfort and wonderful me mories of years past This is an example of

A consumer buying an expensive sports car to celebrate turn

ing 40 years old would most likely be

considered an example of attempting to satisfy a _ _

As defined in the text, the process by which some transfer of

value occurs between a buyer and a

seller is known as a(n)

1 A) marketing event

2 B) sale

3 C) exchange

4 D) barter

5 E) transaction

From a marketing perspective, a consumer purchases a pow

er drill to provide which of the following benefit(s)?

1 A) the need to impress their wife

2 B) the capacity to spin a 1/4 ʺ metal drill bit at 3500 RPM

3 C) the ability to create holes in things

4 D) the desire to appear handy

5 E) the need to make a lot of noise and dust

As defined in the text, is a set of processes for cre

ating, communicating, and delivering

value to customers and for managing customer relatio nships in ways that benefit the organization

and its stake holders

Kevin and Ed are students at a local college who recognize t

he importance of relaxing between

semesters Kevin likes to sky-dive and scuba dive duri

ng breaks while Ed chooses to read science

fiction novels This demonstrates a difference between their

As defined in the text, a is the difference between a

consumer s ʹ actual state and some

ideal or desired state

1 A) demand

2 B) need

3 C) drive

4 D) benefit

5 E) want

Which of the following is not a characteristic of the marketin

g concept, as defined in the text?

1 A) It is most closely aligned with the selling orientation.

2 B) It looks for the best ways to satisfy customer needs.

3 C) It considers the associated costs of satisfying customer needs.

4 D) It is a business orientation that focuses on achieving organizational objectives.

5 E) It seeks to understand customer needs.

Marketers are most interested in the difference between need

s and wants due to which of following reasons?

1 A) Wants tend to provide more benefits, which allow for higher pricing.

2 B)

Being culturally and socially influenced, wants can be changed over time through m arketing actions such as promotion.

3 C) Wants tend to be more profitable to serve than needs.

4 D) Needs are more urgent than wants, therefore, they are more profitable to serve.

5 E) satisfying the needs of buyers and sellers

As discussed in the text, which of the following could be con

sidered consumers (or customers)?

1 A) government

2 B) non-profit organizations

3 C) companies

4 D) individuals

5 E) all of the above

Which of the following would not be considered a valid exch

ange, based on the definition provided in the text?

1 A) a thief who steals all of your belongings while you were at school

2 B) a politician who agrees to support legislation you believe in, if you vote for her

3 C) sales of generic prescription drugs made over the World Wide Web

4 D) a clergyman who offers salvation in return for your financial support

5 E) all of the above

The example of Stratos Product Development and its passen

ger video player developed for British

Airways discussed in the text is a good illustration of _ _

1 A) conducting research to determine customer preferences

2 B) superior creative design in advertising

3 C)

teamwork between different functional areas creating products that offer more value

4 D) analyzing cost information to determine pricing strategy

5 E) using the marketing concept

From a marketing perspective, the difference between a need

and a want is

1 A) there is no difference for most consumers.

2 B) a want is more expensive than a need

3 C) a want does not necessarily satisfy a need

4 D) a need is more urgent than a want

5 E) a want is a learned way to satisfy a need

From a marketing perspective, when one student eats trail mi

x for lunch while another eats a

cheeseburger and french fries, they are demonstrating differences in

are people or organizations who influence or are in

fluenced by marketing decisions

5 E) advantage

A consists of all the consumers who share a comm

on need that can be satisfied by a

product purchase and who have the resources, willing ness and authority to make the purchase

Which of the following was not one of the problems faced by

Richard Hill, owner of Yellow Point

Lodge in the Real People, Real Decisions case in Chap ter 1?

1 A) pressure from customers to lower the price of staying there

2 B) increasing difficulty of maintaining the property as it ages

3 C) increasing cost of property tax

4 D) increasing cost of running the lodge

5 E) All of the above are problems facing Richard.

107 Free Test Bank for Marketing Real People Real

Decisions 3rd Canadian Edition by Solomon

Mutiple Choice Questions - Page 2

Market segmentation is a process of dividing the overall mar

ket into groups of customers who are

sufficiently within the group and fr

As defined in the text, the market segment(s) on which an or

ganization focuses its marketing plan

and toward which it directs its marketing efforts is kno

wn as its

1 A) target market

2 B) market position

3 C) market potential

4 D) mass market

5 E) customer base

In dividing the overall consumer market into specific segmen

ts, which of the following could be

5 E) all of the above

When selecting a target market, marketers must weigh each

of the segments in terms of

profitability potential against

1 A) the revenue to be gained by doing so

2 B) the organization s ʹ resources and abilities to satisfy the needs of the segments

3 C) the positioning opportunities that exist in the market

4 D) the size of its competition

5 E) none of the above

As defined in the text, a distinct group of customers within a

larger market who are similar to one

another in some way and whose needs differ from othe

r customers in the larger market is called a

5 E) all of the above

As defined in the text, strategies to establish the unique valu

e proposition of an offering and

sustain its superiority in the eyes of target consumers

is called

1 A) product perception

2 B) branding

3 C) positioning

4 D) brand recognition

5 E) competitive evaluation

As defined in the text, is the availability of the prod

uct to the customer at the desired time and location

A lawyer providing legal advice fits the definition of a produc

t because he or she provides to their clients

1 A) a tangible product

2 B) features

3 C) uses

4 D) a service

5 E) none of the above

Which of the following are considered attributes of a product

5 E) all of the above

In the study of marketing, the combination of the product, pri

ce, promotion, and place

(distribution) strategy used is commonly known as _ _

1 A) market position

2 B) three P s ʹ and a D

3 C) the strategic marketing planning process

4 D) the marketing mix

5 E) promotion

A BMW 5 Series is viewed by many as a high-status, serious

driving machine while a VW Beetle is

viewed as carefree and a little funky This statement ill ustrates the concept of

A service such as TrueCareers, as described in a Spotlight o

n Real People in the text, provides which

of the following benefit(s)?

1 A) a searchable database of graduating students for employers

2 B) access to information on the U.S job market for international students

3 C) a searchable database of entry-level job opportunities for graduating students

4 D) an opportunity for people marketing

5 E) all of the above

When fashion designer Linda Lundstrom designs clothes onl

y for working women, she is said to

Volvo focuses their advertising on how their vehicle is much

safer compared to other vehicles in

the market Volvo is their product as the safe

st vehicle on the market

Which of the following could be useful characteristic(s) for s

egmenting business-to-business markets?

1 A) type of business

2 B) size of business

3 C) sales volume

4 D) decision-making criteria

5 E) all of the above

When selecting a target market, marketers must weigh each

of the segments in terms of

against the organization s ʹ resources and abilities to sa tisfy the needs of the segments

1 A) diversity of needs

2 B) ease of use

3 C) size

4 D) profitability potential

5 E) none of the above

A recent study has shown that while college students are par

t of the larger group of coffee

drinkers, they have distinct taste preferences for flavo ured or chilled coffee drinks Therefore, they

would be considered a of the larger coffee m arket

As defined in the text, is the seller s ʹ assessment of

5 E) fair market value

Canadian Tire stocks a wide variety of automotive parts and

accessories for the vehicle owner who

prefers to do their own work, rather than rely on others This group of do-it-yourself ʺ ʺ vehicle

owners would be considered one of Canadian Tire s ʹ

1 A) mass markets

2 B) target markets

3 C) differentiated markets

4 D) market segments

5 E) none of the above

As discussed in a Spotlight on Real People from the text, the

company which was started by two

students and provided student resumes to companies

on the Internet was originally known as

, but is now called

1 A) Resumes R Us: JobHunters

2 B) JobDirect; TrueCareers

3 C) JobHunters; Resumes R Us

4 D) Workopolis; Atlantic Canada Careers

5 E) Jobs Unlimited; JobDirect

As discussed in the text, which of the following is least

likely to be one of Mattel Corporation s ʹ

strategies to expand?

1 A) Expand into European markets.

2 B) Expand into Asian markets.

3 C) Make toys in other countries.

4 D) Acquire Fisher-Price.

5 E) Introduce more Barbie variations for the North American market.

As defined in the text, a includes all possible custo

mers in one market, regardless of the

differences in their specific needs and wants

As defined in the text, a(n) is a tangible good, a ser

vice, an idea, or some combination of

these that, through the exchange process, satisfies co nsumer or business customer needs

1 A) on the retailer s ʹ shelf, relative to the product s ʹ competition

2 B) in the consumer s ʹ mind, relative to the product s ʹ competition

3 C) in its unit sales performance, relative to its competition

4 D) in its gross sales performance, relative to its competition

5 E) none of the above

A politician seeking your support fits the definition of a prod

uct because he or she are attempting to sell

Hewitt is an outsourcing company that has decided to focus

exclusively on the needs of the human

resources professional This is an example of a

1 A) market segment

2 B) customer group

3 C) marketing plan

4 D) mass market

5 E) target market

Which of the following would not be considered an example

of a product, as defined in the text?

1 A) a course at a university

2 B) access to the Internet via your ISP

3 C) supporting a political party

4 D) a DVD of a new movie

5 E) all of the above are examples of a product

Positioning involves differentiating a product in the eyes of _

Marketing research by Home Depot has shown that only 40%

of all homeowners are willing to

attempt minor home renovations, such as painting or d ecorating This group of eager homeowners

1 A) Today s ʹ rapidly changing markets do not support a mass market approach.

2 B) Companies have varying levels of resources to use for marketing.

3 C) Due to competition, mass marketing is not an effective long-run strategy.

4 D) Market segments have different, and sometimes conflicting needs.

5 E) all of the above

The first step in the marketing decision process is

1 A) deciding on your target market

2 B) designing the marketing mix

3 C) specifying the value

4 D) understanding the opportunity

5 E) creating value

As discussed in the text, which of the following is not

necessarily one of the requirements for a

valid exchange to take place?

1 A) There must be at least two people or organizations.

2 B) Each party must be willing to make a trade.

3 C) The parties must have something the other party values.

4 D) The parties must agree on the value of the exchange.

5 E) Money must change hands between the parties.

As discussed in the text, which of the following variables ma

kes the most sense for Levi Strauss to

use when segmenting the overall blue jean market?

A combination of the product itself, the price of the product,

the place where it is made available,

and the activities that introduce and promote it to cons umers that creates a desired response

among a set of predefined consumers is known as _ _

1 A) the marketing mix

2 B) the business plan

3 C) the marketing strategy

4 D) the marketing program

5 E) the marketing plan

Which of the following reason(s) explain why mass marketin

g is not an effective long-run strategy

in today s ʹ marketing environment?

1 A) Mass marketing is too expensive to implement effectively.

2 B) All customers in today s ʹ marketing environment want value.

3 C) Segmented marketing is always more cost-efficient.

4 D) Undifferentiated marketing is always more effective.

5 E)

Competition will always find a way to offer different products that appeal to a segme

nt of the overall market.

107 Free Test Bank for Marketing Real People Real

Decisions 3rd Canadian Edition by Solomon

Mutiple Choice Questions - Page 3

As described in the text, which of the following would not

be considered a form of promotion?

Which of the following orientations is most closely associate

d with a seller s ʹ market, that is, a

situation where demand exceeds supply of available pr oducts?

1 A) new era orientation

2 B) selling orientation

3 C) consumer orientation

4 D) product orientation

5 E) all of the above

Direct Tire Sales has a clean customer lounge and gives cust

omers free coffee with croissants while

they wait for their vehicle to be serviced This is a goo

d example of a firm successfully using the

As defined in the text, the coordination of efforts by a market

er to inform or persuade consumers

or organizations about goods, services, or ideas is call

As defined in the text, the marketing orientation that focuses

on being proactive and responsive in

identifying and satisfying consumer needs and wants i

Which of the following are the dark ʺ sideʺ of consumer beha

viour, as mentioned in the text?

1 A) Marketers create artificial needs.

2 B) Marketers promise miracles.

3 C) Marketing teaches consumers to value possessions more than people.

4 D) all of the above

5 E) none of the above

When product availability exceeds demand, firms are more li

5 E) new era orientation

Companies like Loblaws believe that not only should they m

ake a profit, but they should also

create social and environmental value In this case, Lo blaws is exhibiting a philosophy

In a buyer s ʹ market where product availability exceeds dema

nd, businesses are most likely to adopt a

Companies that are more successful at making one-time sale

s rather than building repeat

business, e.g., cemetery plots, are likely to have a

1 A) consumer orientation

2 B) new era orientation

3 C) product orientation

4 D) selling orientation

5 E) none of the above

As discussed in the text, the Ford Motor Company sponsors

The

honour of devotees of its legendary Mustang This is a

Customers functioning in marketing roles, such as participat

ing in creating advertising or

providing input to new product development is known

Firms that focus on a focus on the most efficient pr

oduction and distribution of products,

and not whether these products best satisfy customer

Channels of distribution is another way of describing which

of the following elements of the marketing mix?

A is a series of activities involved in designing, pro

ducing, marketing, delivering and

supporting any product

1 A) they are grossly overestimating the power of advertising to influence

2 B) they underestimate the power of advertising to influence

3 C) they are right; have you seen The Swan?

4 D) marketers provide complex answers to simplistic problems

5 E) none of the above

For a manufacturer such as General Motors of Canada, decid

ing who will be an authorized retailer

for their products is part of which of the following mar keting mix elements?

Systematically tracking consumersʹ preferences and behavio

urs over time to tailor the value

proposition as closely as possible to each individual s ʹ unique wants and needs is called

1 A) customer relationship management.

2 B) target marketing.

3 C) market segmentation.

4 D) positioning.

5 E) new era marketing.

As described in the text, a company voluntarily withdrawing i

ts products from the marketplace

when it discovers that they may cause harm to consu mers or the environment would be a good

How much profit companies expect to make from a particular

customer, including each and every

purchase he or she will make from them now and in th

e future is called the of the customer

1 A) net present value

2 B) total value

3 C) lifetime profit

4 D) lifetime value

5 E) CRM

As described in the text, the communication strategy used b

y Mike s ʹ Hard Lemonade was intended to

1 A)

support the brand image by developing the personalities of Mike and the lemonade

2 B) position the product as a low-cost alternative to more expensive wine coolers

3 C) reinforce the product image as an alternative drink for serious wine enthusiasts

4 D) persuade beer drinkers to switch to coolers

5 E) none of the above

The first step in creating a competitive advantage is to identif

As discussed in the text, Coca-Cola s ʹ excellence in distributi

on and marketing is their

1 A) value differentiator

2 B) unique selling point

3 C) distinctive competency

4 D) value proposition

5 E) differential benefit

Companies now realize how important loyal customers are to

them Some companies hold events,

sometimes called , to thank customers for the

The second step in developing a competitive advantage is to

turn a distinctive competency into a

A business philosophy that organizations should create eco

nomic, social and environmental value

In following a , management views marketing as a

way to move products out of

warehouses so that inventory does not pile up

1 A) selling orientation

2 B) product orientation

3 C) consumer orientation

4 D) new era orientation

5 E) none of the above

Marketing communicates the benefits of a product to consu

mers in the form of a

1 A) positioning statement.

2 B) value proposition.

3 C) marketing plan.

4 D) advertisement.

5 E) customer value statement.

As described in the text, when McCain s ʹ Foods refused to pr

ocess genetically altered potatoes, it

was applying the concept of

The best response to the criticism that marketers create artifi

cial needs is that

1 A) consumers are not that gullible

2 B) consumer needs are few so many more have to be created

3 C) different cultures value different things

4 D) the basic need has to be there for a consumer to act on it

5 E) none of the above

As defined in the text, an orientation that focuses on satisfyi

ng consumer needs while also

addressing the needs of the larger society is known as the

1 A) mass marketing concept

2 B) greater good concept

3 C) World Wide Web concept

4 D) social benefit concept

5 E) social marketing concept

Deciding whether to offer a product for sale on the World Wi

de Web would be considered a decision

4 D) differential benefit

5 E) value proposition

Consumers are now creating their own ads for products and

posting them on sites such as

YouTube.com This phenomenon is known as _ _

When McDonald s ʹ discontinued using plastic or styrofoam p

ackaging for its hamburgers in favour

of recyclable paper, it was applying the concept of _ _