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,Chapter 01 - Why Is Marketing Management Important?
1. If you ask the average person, “What is marketing?” you might hear something like,
“Marketers make people buy stuff they don’t need and can’t afford.”
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Customer
TOPICS: 1-1 Defining Marketing
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
2. Marketing is defined as an exchange between a firm and its customers.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG Communication
LOCAL STANDARDS: United States - OH - Default City - DISC: Customer
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Remember
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
3. Customers typically do not mind paying for purchases if they really want what they are
purchasing.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Customer
Copyright Cengage Learning. Powered by Cognero. Page 1
,TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
4. John just purchased a new Honda Civic from the local Honda dealership. Even though John
was happy and Honda made a profit, this was not a symbiotic relationship.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Challenging
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Customer
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Apply
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
5. Marketers try to figure out what customers want and then they try to figure out how to provide
it and make money doing so.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Strategy
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
6. In an exchange, the customer wants something from the company but the company wants
nothing from the customer.
a. True
b. False
ANSWER: False
POINTS: 1
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,DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG Communication
LOCAL STANDARDS: United States - OH - Default City - DISC: Customer
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
7. Most companies would agree that taking in profits is much more important than keeping
customers happy.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Customer
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
8. The term “market” sounds like it involves selling simple, tangible goods, but as you know,
hardly anything can be marketed.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
9. Aisha, who owns her own green cleaning service, is a marketer when she promotes her
business to new clients.
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, a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Challenging
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Apply
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
10. Marketers help athletes, celebrities, and politicians with their images in their respective
marketplaces (to fans and agents, intelligentsia, or the public).
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG Communication
LOCAL STANDARDS: United States - OH - Default City - DISC: Promotion
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
11. Some things that can be marketed include goods, services, experiences, events, and people.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG Communication
LOCAL STANDARDS: United States - OH - Default City - DISC: Promotion
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Remember
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,DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
12. A marketer for the American Heart Association would be responsible for their push of the
message to eat foods lower in fat.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Challenging
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG Communication
LOCAL STANDARDS: United States - OH - Default City - DISC: Promotion
TOPICS: 1-2 Marketing Is an Exchange Relationship
KEYWORDS: Bloom's: Apply
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
13. These days we live in a truly product-oriented and product-empowered marketing world.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Product
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
14. Marketing can be used to educate the public.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
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,LOCAL STANDARDS: United States - OH - Default City - DISC: Product
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
15. Direct-to-consumer ads are not used to market pharmaceutical drugs because it is unlikely
patients will ask their doctor for a particular brand name.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Product
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
16. Marketing shows the evolution of markets. This is the change from an industry just having
production and sales to having true relationships with its customers.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Product
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
17. Many management gurus believe that marketing has succeeded so well that it shouldn't be a
function in an organization anymore.
a. True
b. False
ANSWER: False
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,POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
18. R&D people don’t understand marketing because they are too concerned with making the
latest and greatest invention.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
19. Results can be measured for a number of marketing activities.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Remember
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
20. One of the factors currently stressing marketers is the pressure to show results.
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, a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUS PROG: Promotion
LOCAL STANDARDS: United States - OH - Default City - DISC: Research
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
21. For marketing to have an equal vote in company decisions, it needs to quantify the
effectiveness of marketing programs in financial terms.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Challenging
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-3 Why Is Marketing Management Important?
KEYWORDS: Bloom's: Understand
DATE CREATED: 8/16/2021 10:22 AM
DATE MODIFIED: 8/19/2021 8:18 AM
22. When Cari, the marketing vice president, assesses any business problem or opportunity in
terms of general analysis, she should review the 5Ps.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: True / False
HAS VARIABLES: False
NATIONAL STANDARDS: United States - BUSPROG - Reflective Thinking
LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan
TOPICS: 1-4 The “Marketing Framework”: 5Cs, STP, and the 4Ps
1-4 The "Marketing Framework": 5Cs, STP, and the 4Ps
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