Chapter 01 Testbank Key v v v
1.
Marketers v mightv wish v to v sell v their v products v to v everyone,v butv itv is v notv practical v to v do v so.
TRUE
Av good v marketer v will v seek v outv potential v customers v who v havev an v interestv in v thev productv and v thev ability v to v buy v it.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
2.
Thev four v Ps v includev product,v promotion,v planning v and v place.
FALSE
Thev four v Ps v arev product,v price,v promotion v and v place.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
3.
Thev group v ofv firms v thatv makes v and v delivers v av given v setv ofv goods v and/or v services v is v called v av supply v chain.
TRUE
Supply v chain v (or v marketing v channel) v partners v includev all v firms v involved v in v manufacturing v and v delivering v goods v a
nd v services,v fromv rawv material v suppliers v to v retailers v and v shipping v companies.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.3v Understandv why v marketingv is v important,v bothv withinv andv outsidev thev firm
,4.
Valuev is v whatv youv getv for v whatv youv give.
TRUE
Valuev is v thev relationship v between v thev benefits v received v and v thev costs.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
5.
In v valuev co-creation,v thev customer v participates v in v thev creation v ofv av good v or v service,v which v provides v additional v valuev to v thev custom
TRUE
In v valuev co-
creation,v thev firmv and v thev customer v work v together v to v createv thev good v or v service.v This v process v adds v valuev becau
sev thev good v or v servicev can v bev tailored v to v thev customer’s v needs.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
6.
Over v thev pastv decadev or v so,v marketers v havev begun v to v realisev thatv itv is v bestv to v structurev av firm's v custo mer v orientation v in v terms v ofv tra
nsactions v rather v than v relationships.
FALSE
Av transactional v orientation v focuses v only v on v thev currentv exchange,v whereas v av relational v orientation v attempts v to v bui
ld v av long-termv relationship v with v thev customer,v resulting v in v av streamv ofv transactions v and v (usually) v higher v profits.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.2v Explainv thev conceptv ofv valuev inv marketing
,7.
When v av good v or v servicev is v promoted,v thev purposev ofv thev promotion v is v to v inform,v persuadev or v remind v customers.
TRUE
Promotions v arev generally v designed v to v inform,v persuade,v or v remind v potential v buyers v aboutv av good v or v service.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
8.
When v av car v manufacturer v sells v trucks,v cars,v and v car v parts v to v thev governmentv or v military,v this v is v an v examplev ofv B2Cv marketing.
FALSE
This v is v an v examplev ofv B2Bv (business v to v business) v marketing.v B2Cv mark eting v would v involvev selling v cars v or v trucks
v to v individual v consumers.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
9.
Thev power v adapters v Dell v sells v with v its v computers v arev builtv by v small v companies v who v specialisev in v power-
related v accessories.v Dell v thev power v adapter v manufactur ers v arev engaging v in v B2Bv marketing.
TRUE
Dell,v av business,v is v purchasing v supplies v fromv another v business,v so v this v is v an v examplev ofv business-to-
business v (B2B) v marketing.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
10.
Garagev sales v and v onlinev classified v ads v arev examples v ofv C2Cv marketing.
TRUE
Thesev arev C2Cv marketing v scenarios,v wherev consumers v marketv to v each v other.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
, 11.
Margo v likes v av brand v ofv coffeev thatv is v only v sold v atv Starbucks,v so v shev plans v her v routev to v work v to v drivev by v Starbucks v every v morning.v
Margo v is v being v influenced v by v thev 'place'v elementv ofv thev marketing v mix.
TRUE
Placev represents v all v thev activities v necessary v to v getv thev productv to v thev rightv customer v when v thatv customer v wants v it
.v For v instance,v marketing v channel v considerations v havev pushed v av growing v number v ofv businesses v to v adoptv multiple
v convenientv locations.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
12.
When v av t-
shirtv manufacturer v states,v 'Wev only v sell v itv in v black v becausev thatv way v wev can v buy v plenty v ofv black v fabric v and v run v our v plantv efficiently',
v their v statementv reflects v thev views v thatv werev popular v in v which v erav ofv thev evolution v ofv marketing?
A. Production-oriented
B. Sales-oriented
C. Market-oriented
D. Value-based v marketing
This v question v refers v to v thev Production-
oriented v era,v which v is v when v companies v manufactured v items v withoutv taking v individuals'v needs v or v wants v into v consid
eration.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
13.
Xavier v is v analysing v potential v marketv segments.v Hev should v carefully v seek v potential v customers v who v havev both v an v interestv in v his v prod
ucts v and:
A. av thoroughv knowledgev of v his v brand v messages
B. thev ability v to v buy v them
C. knowledgevof v competing v products
D. arev removed v f romv traditionalv marketing v alternatives
Ifv Xavier v selects v customers v with v an v interestv in v thev kinds v ofv products v hev offers v and v thev ability v to v purchase,v hev can
v communicatev thev valuev his v offerings v providev and v offer v competitivev comparisons v as v partv ofv his v marketing v mix.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
1.
Marketers v mightv wish v to v sell v their v products v to v everyone,v butv itv is v notv practical v to v do v so.
TRUE
Av good v marketer v will v seek v outv potential v customers v who v havev an v interestv in v thev productv and v thev ability v to v buy v it.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
2.
Thev four v Ps v includev product,v promotion,v planning v and v place.
FALSE
Thev four v Ps v arev product,v price,v promotion v and v place.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
3.
Thev group v ofv firms v thatv makes v and v delivers v av given v setv ofv goods v and/or v services v is v called v av supply v chain.
TRUE
Supply v chain v (or v marketing v channel) v partners v includev all v firms v involved v in v manufacturing v and v delivering v goods v a
nd v services,v fromv rawv material v suppliers v to v retailers v and v shipping v companies.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.3v Understandv why v marketingv is v important,v bothv withinv andv outsidev thev firm
,4.
Valuev is v whatv youv getv for v whatv youv give.
TRUE
Valuev is v thev relationship v between v thev benefits v received v and v thev costs.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
5.
In v valuev co-creation,v thev customer v participates v in v thev creation v ofv av good v or v service,v which v provides v additional v valuev to v thev custom
TRUE
In v valuev co-
creation,v thev firmv and v thev customer v work v together v to v createv thev good v or v service.v This v process v adds v valuev becau
sev thev good v or v servicev can v bev tailored v to v thev customer’s v needs.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
6.
Over v thev pastv decadev or v so,v marketers v havev begun v to v realisev thatv itv is v bestv to v structurev av firm's v custo mer v orientation v in v terms v ofv tra
nsactions v rather v than v relationships.
FALSE
Av transactional v orientation v focuses v only v on v thev currentv exchange,v whereas v av relational v orientation v attempts v to v bui
ld v av long-termv relationship v with v thev customer,v resulting v in v av streamv ofv transactions v and v (usually) v higher v profits.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.2v Explainv thev conceptv ofv valuev inv marketing
,7.
When v av good v or v servicev is v promoted,v thev purposev ofv thev promotion v is v to v inform,v persuadev or v remind v customers.
TRUE
Promotions v arev generally v designed v to v inform,v persuade,v or v remind v potential v buyers v aboutv av good v or v service.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
8.
When v av car v manufacturer v sells v trucks,v cars,v and v car v parts v to v thev governmentv or v military,v this v is v an v examplev ofv B2Cv marketing.
FALSE
This v is v an v examplev ofv B2Bv (business v to v business) v marketing.v B2Cv mark eting v would v involvev selling v cars v or v trucks
v to v individual v consumers.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
9.
Thev power v adapters v Dell v sells v with v its v computers v arev builtv by v small v companies v who v specialisev in v power-
related v accessories.v Dell v thev power v adapter v manufactur ers v arev engaging v in v B2Bv marketing.
TRUE
Dell,v av business,v is v purchasing v supplies v fromv another v business,v so v this v is v an v examplev ofv business-to-
business v (B2B) v marketing.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
10.
Garagev sales v and v onlinev classified v ads v arev examples v ofv C2Cv marketing.
TRUE
Thesev arev C2Cv marketing v scenarios,v wherev consumers v marketv to v each v other.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
, 11.
Margo v likes v av brand v ofv coffeev thatv is v only v sold v atv Starbucks,v so v shev plans v her v routev to v work v to v drivev by v Starbucks v every v morning.v
Margo v is v being v influenced v by v thev 'place'v elementv ofv thev marketing v mix.
TRUE
Placev represents v all v thev activities v necessary v to v getv thev productv to v thev rightv customer v when v thatv customer v wants v it
.v For v instance,v marketing v channel v considerations v havev pushed v av growing v number v ofv businesses v to v adoptv multiple
v convenientv locations.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
12.
When v av t-
shirtv manufacturer v states,v 'Wev only v sell v itv in v black v becausev thatv way v wev can v buy v plenty v ofv black v fabric v and v run v our v plantv efficiently',
v their v statementv reflects v thev views v thatv werev popular v in v which v erav ofv thev evolution v ofv marketing?
A. Production-oriented
B. Sales-oriented
C. Market-oriented
D. Value-based v marketing
This v question v refers v to v thev Production-
oriented v era,v which v is v when v companies v manufactured v items v withoutv taking v individuals'v needs v or v wants v into v consid
eration.
AACSB:v Analytic v Bl
oom’s:vRemember v
Difficulty:v Easy
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
13.
Xavier v is v analysing v potential v marketv segments.v Hev should v carefully v seek v potential v customers v who v havev both v an v interestv in v his v prod
ucts v and:
A. av thoroughv knowledgev of v his v brand v messages
B. thev ability v to v buy v them
C. knowledgevof v competing v products
D. arev removed v f romv traditionalv marketing v alternatives
Ifv Xavier v selects v customers v with v an v interestv in v thev kinds v ofv products v hev offers v and v thev ability v to v purchase,v hev can
v communicatev thev valuev his v offerings v providev and v offer v competitivev comparisons v as v partv ofv his v marketing v mix.
AACSB:v Analytic v Blo
om’s:vUnderstandvDif
ficulty:v Medium
Learningv Objective:v 1.1v Definev thev rolev ofv marketingv inv organisations
