Exam (elaborations)
Test Bank for Marketing Management, 16th Edition By Philip Kotler,Kevin Lane Keller, Alexander Chernev
Test Bank for Marketing Management, 16th Edition By Philip Kotler,Kevin Lane Keller, Alexander Chernev
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
1 review
By: charleneaheath • 1 week ago
Content preview
1 Copyright © 2022 Pearson Education, Inc. Test Bank for Marketing Management, 16th Edition By Philip Kotler,Kevin Lane Keller, Alexander Chernev Chapter 1 -21 Chapter 1 1) Which of these is an accurate characterization of the contemporary view of marketing? A) Marketing is synonymous with selling. B) With the rise of social commerce, company -driven marketing is no longer important. C) Marketing's emphasis within the firm continues to decline. D) To improve efficiency, most firms now restrict marketing activities within the "official" boundaries of the marketing department. E) Marketing is about identifying and meeting human and social needs in a way that harmonizes with the goals of the organization. Answer: E Diff: 3 LO: 1.1: Define the scope of marketing. AACSB: Reflect ive thinking 2) With regard to the selling function, what did Peter Drucker have to say about the aim of marketing? A) Selling should replace marketing. B) Selling should have equal importance in the corporate hierarchy. C) It should make selling superfluous. D) The sales function should set strategy, while the marketing function owns tactics. E) Selling and marketing are synonymous. Answer: C Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 3) Which of these was ident ified as key reason why Nintendo had a hit with the Wii and Apple with the iPad? A) Both companies designed the right product based on thoughtful research. B) Both products were flukes that happened to hit the market at the right time. C) Neither product l ed its category, but both were sold aggressively. D) Both products underpriced their competition. E) American consumers have enough disposable income to afford luxury gadgets. Answer: A Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective t hinking 2 Copyright © 2022 Pearson Education, Inc. 4) Which of these entities represent the bulk of most countries' marketing efforts? A) Experiences B) Services C) Goods D) Events E) Places Answer: C Diff: 1 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 5) Raw materials, labor, and sources of funding represent which kind of market? A) Basic B) Primary C) Secondary D) Resource E) Business to business Answer: D Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 6) A public service announcement (P SA) encouraging people to wear masks during a pandemic outbreak represents what kind of marketed entity? A) Ideas B) Services C) Experiences D) Information E) Social good Answer: A Diff: 3 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinki ng 7) Which of these is NOT one of the five basic markets? A) Resource markets B) Manufacturer markets C) Educational markets D) Consumer markets E) Government markets Answer: C Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 3 Copyright © 2022 Pearson Education, Inc. 8) How does successful marketing create jobs? A) By raising the standard of living B) By encouraging conspicuous consumption C) By increasing brand equity D) By promoting capitalism E) By building demand for products and services Answer: E Diff: 3 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 9) In the four flows in a modern exchange economy, what do sellers receive from buyers in addition to money? A) Legal rights B) Legal releases C) Intangible resources D) Information E) Confi rmation Answer: D Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 10) The decline of companies such as MySpace and Blockbuster can be attributed at least in part to which of these marketing mistakes? A) Failing to continually improve value offerings and marketing strategies B) Failing to articulate a clear customer message C) Overpricing in a declining economy D) Confusing markets with unclear corporate branding E) Failing to use marketing intermediaries effectively Answer: A Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 11) Which of these reasons was identified as a success factor for the British firm RB (formerly Reckitt Benckiser)? A) Strong sales teams B) Emotional advertising C) Digging de eply into consumer habits D) Government subsidies E) Undercutting competitors on prices Answer: C Diff: 2 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 4 Copyright © 2022 Pearson Education, Inc. 12) Which of these is a reason senior management should encourage fresh ideas f rom underrepresented groups of employees? A) To challenge company orthodoxy B) To lower costs by engaging lower -paid worker in research C) To avoid charges of discrimination D) To copy what benchmark competitors are doing E) To promote employee morale Answer: A Diff: 1 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 13) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Diff: 1 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 14) ________ management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating su perior customer value. A) Marketing B) Knowledge C) Operations D) Strategic E) Distribution Answer: A Diff: 1 LO: 1.1: Define the scope of marketing. AACSB: Reflective thinking 15) Identify the correct statement about marketing management. A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on a ttaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least one party to a potential exchange thinks a bout the means of achieving desired responses from other parties. Answer: E Diff: 3The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller solutions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73918 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now