New Testbank For Marketing8eGrewal.docx

New Testbank For Marketing8eGrewal

,Marketing,8e(Grewal)
Chapter1OverviewofMarketing

1) Marketingisanactivitythatonlylargefirmswithspecializeddepartmentscanperform.

Answer:FALSE
Explanation:Marketingactivitiescanbeperformedbyorganizationsofallsizesandalsoby individuals.
Difficulty:1 Easy
Topic:Define Marketing

LearningObjective:01-01Definetheroleofmarketing.
Bloom's:Remember
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation

2) Themarketingplanisbrokendownintovariouscomponents—howtheproductorservicewill
beconceivedordesigned,howmuchitshouldcost,whereandhowitwillbepromoted,andhow it will get
to the consumer.

Answer:TRUE
Explanation:Themarketingplanisbrokendownintovariouscomponents—howtheproductor service
will be conceived or designed, how much it should cost, where and how it will be promoted, and
how it will get to the consumer.
Difficulty: 2 Medium
Topic:DefineMarketing
LearningObjective:01-01Definetheroleofmarketing.
Bloom's:Understand
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation

3) Understandingthemarketplaceandacustomer'sneedsandwantsisfundamentaltomarketing
success.

Answer:TRUE
Explanation:Understandingthemarketplace,andespeciallytheneedsandwantsofthe customer, is
fundamental to marketing success.
Difficulty:1 Easy
Topic:Define Marketing
LearningObjective:01-01Definetheroleofmarketing.
Bloom's:Remember
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation




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,4) When the publisher of the well-known Babar books wanted to celebrate the 80th anniversary
oftheseries,itinitiateda$100,000campaign.Thisinitiativerepresentedthe pricecomponentin the
four Ps.

Answer:FALSE
Explanation:Whenthepublisherofthewell-knownBabarbookswantedtocelebratethe80th
anniversary of the series, it initiated a $100,000 campaign. This initiative represented the
promotion componentinthefourPs.Promotioniscommunicationbyamarketerthatinforms,
persuades, and reminds potential buyers about a product or service to influence their opinions
and elicit a response.
Difficulty:1 Easy
Topic:Define Marketing
LearningObjective:01-01Definetheroleofmarketing.
Bloom's:Remember
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation

5) ThefourPsofthemarketing mixincludeproduct,promotion,planning,andplace.

Answer:FALSE
Explanation:ThefourPsofthemarketingmixareproduct,price,place,andpromotion. Difficulty: 1
Easy
Topic:TheFourPs
LearningObjective:01-01Definetheroleofmarketing.
Bloom's:Remember
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation

6) Supply chain management is the set of approaches and techniques that firms employ to
efficientlyandeffectivelyintegratetheirsuppliers,manufacturers,warehouses,stores,andother firms
involved in the transaction into a seamless value chain in which merchandise is produced and
distributed in the right quantities, to the right locations, and at the right time.

Answer:TRUE
Explanation:Supply chain management is the set of approaches and techniques that firms
employtoefficientlyandeffectivelyintegratetheirsuppliers,manufacturers,warehouses,stores,
andotherfirmsinvolvedinthetransaction(e.g.,transportation companies)intoaseamlessvalue chain
in which merchandise is produced and distributed in the right quantities, to the right locations,
and at the right time, while minimizing systemwide costs and satisfying the service levels
required by the customers.
Difficulty:1 Easy
Topic:Define Marketing
LearningObjective:01-01Definetheroleofmarketing.
Bloom's:Remember
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation


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, 7) Valueiswhat yougetforwhatyougive.

Answer:TRUE
Explanation:Valuereflects therelationshipofbenefitstocosts,orwhatyougetforwhatyou give.
Difficulty:1 Easy
Topic:ProductValue Creation
LearningObjective:01-02Detailtheevolutionofmarketingovertime.
Bloom's:Remember
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation

8) Invaluecocreation,thecustomerparticipatesinthecreationofagoodorservice,which
provides additional value to the customer.

Answer:TRUE
Explanation:A creative way to providevalue to customers is to engage in value cocreation. In
thiscase,customerscanactascollaboratorstocreatetheproductorservice.Whenclientswork with their
investment advisers, they cocreate their investment portfolios; when Nike allows customers to
custom design their sneakers, they are cocreating.
Difficulty:2Medium
Topic:ProductValue Creation
LearningObjective:01-02Detailtheevolutionofmarketingovertime.
Bloom's:Understand
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation

9) Ninety-sevenpercentofmarketersassertthattheyusesocialmediatoolsfortheir businesses.

Answer:TRUE
Explanation:Ninety-sevenpercentofmarketersassertthattheyusesocialmediatoolsfortheir
businesses.
Difficulty: 2 Medium
Topic:DefineMarketing
LearningObjective:01-03Describehowmarketerscreatevalueforaproductorservice.
Bloom's:Understand
AACSB:Analytical Thinking
Accessibility:KeyboardNavigation




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