,TESTBANK FOR Applied Marketing by Daniel
Padgett
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,Package Title: Loos Testbank
Course Title: Marketing
Chapter Number: 1
Question type: Multiple Choice
1) The breadth of marketing decisions is referred to as what?
a) The 4Ps of marketing
b) The marketing plan
c) The marketing strategy
d) The creative concept
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
2) Marketing is best described as what?
a) Sales
b) Advertising
c) Managing exchanges
d) Creating needs and wants
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
3) Which skill set is required to be a good marketer?
a) Experience in professional sales
b) A high degree of creativity
c) Understanding algebra and calculus
d) Basic math skills
,Answer: d
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
4) All of these are common misconceptions about what marketing is EXCEPT:
a) managing exchanges with customers.
b) making people buy things they don’t need.
c) an art, and you either have the gift for it or you don’t.
d) it does not involve numbers.
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
5) At a minimum, what percentage of new products fail?
a) 80%
b) 50%
c) 35%
d) 10%
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
6) Which is identified as the foundation for the marketing plan?
a) Target market segmentation
b) Market research
,c) Value proposition development
d) Market plan development
Answer: b
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
7) The basic goal of marketing managers in managing exchanges involves all of these elements
EXCEPT:
a) promotional planning.
b) value.
c) price.
d) cost.
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
8) The United States economy is currently dominated by which category?
a) Services
b) Agriculture
c) Manufacturing
d) Digital marketing
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.4 Outline the evolution of marketing thought and practice.
Section Reference 1: How Marketing Has Changed Over Time
Standard 1: AACSB || Communication
9) Managing a marketing effort involves all of these functions EXCEPT:
,a) control.
b) planning.
c) implementation.
d) advertising.
Answer: d
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
10) The combination of a strong desire for something and the ability to purchase it defines what?
a) Demand
b) Supply
c) Price equilibrium
d) Cost
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Analytic
11) Which of the following is NOT one of the 4Ps of marketing?
a) Price
b) Perception
c) Promotion
d) Place
Answer: b
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
,12) Which best describes “wants”?
a) Strong desires for something
b) Unfulfilled needs
c) Unsupplied demands
d) Untapped markets
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
13) Simple trade and bartering involves what?
a) Commodity exchanges
b) The exchange of a product or service for money
c) A trade agreement between two countries
d) Swapping one product or service for another
Answer: d
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
14) The focus of your marketing plan should be on what?
a) Coordination of activities
b) Assessment of effectiveness
c) Target market
d) Timeline and budget
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
,Standard 1: AACSB || Communication
15) Someone who has an idea that something might work based on theory or watching it in
action and testing the idea is thought of as:
a) market planner.
b) skilled researcher.
c) naïve scientist.
d) consumer behavior theorist.
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
16) The combination of benefits forming a value proposition will do what?
a) Maximize sales.
b) Appeal to some groups of customers but not all.
c) Maximize value for all potential customers.
d) Appeal to the maximum amount of customers.
Answer: b
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Analytic
17) Creative advertising can do what for your products or services?
a) Guarantee marketing success.
b) Often save a bad product.
c) Help create buzz.
d) Influence all consumers.
Answer: c
Difficulty: Medium
,Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Analytic
18) Which of the following statements most clearly defines marketing?
a) Managing mutually-beneficial exchanges with customers.
b) Maximizing profits through the creation of needs.
c) The creation and development of new markets.
d) Identifying individuals who want an organization’s products or services.
Answer: a
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
19) The focus of your marketing plan should be on what?
a) timeline and budget
b) assessment of effectiveness
c) coordination of activities
d) target market
Answer: d
Difficulty: Medium
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
20) The key to value creation is:
a) perception.
b) cost.
c) benefits.
d) willingness to pay.
Answer: a
, Difficulty: Medium
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
21) Because different groups of customers want different things, marketers offer different
combinations of benefits called what?
a) Benefits statements
b) Value propositions
c) Perceptual benefits
d) Target market perceptions
Answer: b
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
22) Finding a group of customers who want what you have to offer and providing it better than
others do so that you maximize perceived value for that group defines:
a) target market differentiation.
b) your value proposition.
c) total market value maximization.
d) sales maximization.
Answer: a
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Analytic
23) To be successful, marketers have to understand what associated with a particular exchange
for a group of customers?
a) benefits
Padgett
Hello all ,
We have all what you need with best price
Our email :
Our website :
testbanks-store.com
,Package Title: Loos Testbank
Course Title: Marketing
Chapter Number: 1
Question type: Multiple Choice
1) The breadth of marketing decisions is referred to as what?
a) The 4Ps of marketing
b) The marketing plan
c) The marketing strategy
d) The creative concept
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
2) Marketing is best described as what?
a) Sales
b) Advertising
c) Managing exchanges
d) Creating needs and wants
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
3) Which skill set is required to be a good marketer?
a) Experience in professional sales
b) A high degree of creativity
c) Understanding algebra and calculus
d) Basic math skills
,Answer: d
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
4) All of these are common misconceptions about what marketing is EXCEPT:
a) managing exchanges with customers.
b) making people buy things they don’t need.
c) an art, and you either have the gift for it or you don’t.
d) it does not involve numbers.
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
5) At a minimum, what percentage of new products fail?
a) 80%
b) 50%
c) 35%
d) 10%
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
6) Which is identified as the foundation for the marketing plan?
a) Target market segmentation
b) Market research
,c) Value proposition development
d) Market plan development
Answer: b
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
7) The basic goal of marketing managers in managing exchanges involves all of these elements
EXCEPT:
a) promotional planning.
b) value.
c) price.
d) cost.
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
8) The United States economy is currently dominated by which category?
a) Services
b) Agriculture
c) Manufacturing
d) Digital marketing
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.4 Outline the evolution of marketing thought and practice.
Section Reference 1: How Marketing Has Changed Over Time
Standard 1: AACSB || Communication
9) Managing a marketing effort involves all of these functions EXCEPT:
,a) control.
b) planning.
c) implementation.
d) advertising.
Answer: d
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
10) The combination of a strong desire for something and the ability to purchase it defines what?
a) Demand
b) Supply
c) Price equilibrium
d) Cost
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Analytic
11) Which of the following is NOT one of the 4Ps of marketing?
a) Price
b) Perception
c) Promotion
d) Place
Answer: b
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
,12) Which best describes “wants”?
a) Strong desires for something
b) Unfulfilled needs
c) Unsupplied demands
d) Untapped markets
Answer: a
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.1 Describe some common misconceptions about marketing.
Section Reference 1: What Marketing Is Not
Standard 1: AACSB || Communication
13) Simple trade and bartering involves what?
a) Commodity exchanges
b) The exchange of a product or service for money
c) A trade agreement between two countries
d) Swapping one product or service for another
Answer: d
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
14) The focus of your marketing plan should be on what?
a) Coordination of activities
b) Assessment of effectiveness
c) Target market
d) Timeline and budget
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
,Standard 1: AACSB || Communication
15) Someone who has an idea that something might work based on theory or watching it in
action and testing the idea is thought of as:
a) market planner.
b) skilled researcher.
c) naïve scientist.
d) consumer behavior theorist.
Answer: c
Difficulty: Easy
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
16) The combination of benefits forming a value proposition will do what?
a) Maximize sales.
b) Appeal to some groups of customers but not all.
c) Maximize value for all potential customers.
d) Appeal to the maximum amount of customers.
Answer: b
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Analytic
17) Creative advertising can do what for your products or services?
a) Guarantee marketing success.
b) Often save a bad product.
c) Help create buzz.
d) Influence all consumers.
Answer: c
Difficulty: Medium
,Bloomcode: Knowledge
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Analytic
18) Which of the following statements most clearly defines marketing?
a) Managing mutually-beneficial exchanges with customers.
b) Maximizing profits through the creation of needs.
c) The creation and development of new markets.
d) Identifying individuals who want an organization’s products or services.
Answer: a
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Communication
19) The focus of your marketing plan should be on what?
a) timeline and budget
b) assessment of effectiveness
c) coordination of activities
d) target market
Answer: d
Difficulty: Medium
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
20) The key to value creation is:
a) perception.
b) cost.
c) benefits.
d) willingness to pay.
Answer: a
, Difficulty: Medium
Bloomcode: Knowledge
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
21) Because different groups of customers want different things, marketers offer different
combinations of benefits called what?
a) Benefits statements
b) Value propositions
c) Perceptual benefits
d) Target market perceptions
Answer: b
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.3 Discuss, with examples, the philosophy of marketing.
Section Reference 1: Philosophy of Marketing
Standard 1: AACSB || Communication
22) Finding a group of customers who want what you have to offer and providing it better than
others do so that you maximize perceived value for that group defines:
a) target market differentiation.
b) your value proposition.
c) total market value maximization.
d) sales maximization.
Answer: a
Difficulty: Medium
Bloomcode: Comprehension
Learning Objective 1: 1.2 Provide an accurate definition of marketing.
Section Reference 1: Marketing Defined
Standard 1: AACSB || Analytic
23) To be successful, marketers have to understand what associated with a particular exchange
for a group of customers?
a) benefits
