Marketing: Real People, Real Choices [Print Replica] Kindle Edition by Michael Solomon (Author), Greg Marshall (Author), Elnora Stuart (Author), & 2 more Format: Kindle Edition/ A+Grades/ 100% verified/ completed

Marketing: Real People, Real Choices, 12e (Solomon)
Chapter 1 Welcome to Marketing in the Modern World

1) A ________ is the ultimate user of a good or service.
A) stakeholder
B) market
C) target market
D) marketer
E) consumer
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

2) ________ is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large.
A) Demand satisfaction
B) Competitive advantage building
C) Marketing
D) Total quality management
E) Value chain management
Answer: C
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing
AACSB: Written and oral communication

3) The ________ consists of the tools an organization uses to create a desired response among a
set of predefined consumers.
A) sharing economy
B) market position
C) value proposition
D) marketplace
E) marketing mix
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing




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,4) The four Ps are discussed as separate parts of a firm's marketing strategy, but product, price,
promotion, and place decisions are actually ________.
A) contradictory
B) interdependent
C) unrelated
D) disconnected
E) singular
Answer: B
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing
AACSB: Written and oral communication

5) Which of the following is a true statement about the four Ps of the marketing mix?
A) A decision about one of the Ps affects every other marketing-mix decision.
B) Price is always the most important of the four Ps.
C) Place is typically the least important of the four Ps.
D) The four Ps have little effect on a product's market position.
E) The four Ps are used to determine a product's target market.
Answer: A
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing
AACSB: Analytical thinking

6) Which of the following is part of the place element of the marketing mix?
A) a quality discount
B) a store coupon
C) a newspaper advertisement
D) a local retailer
E) publicity releases
Answer: D
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

7) The customer's overall assessment of every interaction the customer has had with a business is
known as ________.
A) the customer experience
B) customer engagement
C) e-commerce
D) the marketing mix
E) collaborative consumption
Answer: A
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

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,8) ________ is the assignment of a product's value, or the amount the consumer must exchange
to receive the offering.
A) Promotion
B) Price
C) Benefit
D) Need
E) Utility
Answer: B
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

9) Free delivery of a good is considered part of which element of the marketing mix?
A) product
B) place
C) price
D) distribution
E) promotion
Answer: A
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing
AACSB: Written and oral communication

10) Marketing communication is also referred to as ________.
A) production
B) selling orientation
C) societal marketing
D) exchange
E) promotion
Answer: E
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing
AACSB: Written and oral communication

11) For an exchange to occur, ________.
A) at least two people or organizations must be willing to make a trade, and each must have
something the other wants
B) there must be one winner and one loser
C) someone must make a financial profit
D) the item that is exchanged must be a tangible product
E) time utility must be created for the purchaser
Answer: A
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

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, 12) ________ refers to the availability of the product to the customer at the desired location and
time.
A) production
B) place
C) price
D) profit
E) promotion
Answer: B
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing
AACSB: Reflective thinking

13) ________ are intangible products that we pay for and use but never own.
A) Consumer goods
B) Services
C) Industrial goods
D) E-commerce products
E) Value products
Answer: B
Difficulty: Easy
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

14) Steel and other items purchased for further processing are considered ________.
A) consumer services
B) consumer goods
C) value propositions
D) utilities
E) industrial goods
Answer: E
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing

15) ________ marketing is the marketing of goods and services from one organization to
another.
A) Distributive
B) Consumer
C) E-commerce
D) Business-to-business
E) Target
Answer: D
Difficulty: Moderate
LO: 1.1: Explain what marketing is, the marketing mix, what can be marketed, and the value of
marketing


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