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M Marketing 5th Edition by Grewal - Test Bank
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, Chapter 01Overview of Marketing
True / False Questions
1. Marketing is an activity that only large firms with specialized departments can execute.
True False
2. Good marketing is not a random activity.
True False
3. Understanding a customer's needs and wants is fundamental to marketing success.
True False
4. Marketers might wish to sell their products to everyone, but it is not practical to do so.
True False
5. The four Ps of the marketing mix include product, promotion, planning, and place.
True False
6. Value is what you get for what you give.
True False
1-1
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
,7. In value cocreation, the customer participates in the creation of a good or service, which provides
additional value to the customer.
True False
8. Over the past decade or so, marketers have begun to realize that it is best to structure a firm's
customer orientation in terms of transactions rather than relationships.
True False
9. When a good or service is promoted, the purpose of the promotion is to inform, persuade, or
remind customers about the good or service.
True False
10. When a manufacturer sells truck and car parts to Toyota, this is an example of B2C marketing.
True False
11. The power adapters Dell sells with its computers are built by small companies that specialize in
power-related accessories. When Dell purchases its power adapters from these small companies, it
is engaged in B2B marketing.
True False
12. Garage sales and online classified ads are examples of C2C marketing.
True False
13. HappyCow is an example of a location-based social media application.
True False
14. As it relates to marketing, the trade of things of value between the buyer and the seller so that
each is better off as a result is known as an exchange.
True False
1-2
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
, 15. Marketing's fundamental purpose is to create value by developing a variety of offerings that will
earn income for the company.
True False
16. Margo likes her morning coffee, and she always stops at Starbucks because it is on her way to
work. Margo is being influenced by the place element of the marketing mix.
True False
17. According to the American Marketing Association, marketing is the activity, set of institutions, and
processes for creating, capturing, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.
True False
18. Buffalo Wild Wings suggests that its diners check in to its locations using their phones. This
demonstrates the use of social media to market a product.
True False
19. Approximately half of marketers say they now use social media tools for marketing purposes.
True False
20. Firms become value driven, in part, by focusing on the competition.
True False
Multiple Choice Questions
1-3
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
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