Test Bank and Solutions For Marketing 20th Edition 20e By William M. Pride PDF

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Test Bank, Solution Manual, eBook For Marketing 20th Edition By William M. Pride, Ferrell ; APLIA, MINDTAP Assignments & Quizzes. : 9780357692042...

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Chap01_20e Indicatewhetherthestatementistrueorfalse. 1. Changesinthemarketingenvironmentalwayshurtmarketingefforts. a. True b. False 2. Relationshipmarketingfocusesonsatisfyingcustomerstogeneratethemostprofit. a. True b. False 3. Foranexchangetooccur,atleastoneofthepartiesmustbewillingtogiveuphisorher"somethingofvalue." a. True b. False 4. Marketingactivitiescanoccurevenwhenanexchangedoesn'ttakeplace. a. True b. False 5. Thedistributionvariableinamarketingmixisdirectedtowardmakingproductsavailableinthequantities desiredtoasmanytargetmarketcustomersaspossibleandkeepingthetotalinventory,transportation,and storagecostsaslowaspossible. a. True b. False 6. Itisagoodideatoconsiderparentsaspartofthetargetmarketwhenmarketingnewchildren'slunchboxestha staycolderlonger. a. True b. False 7. Marketingcostsconsumeaboutone-quarterofabuyer'sdollar. a. True b. False 8. Marketingconsistsprimarilyofsellingandadvertising. a. True b. False 9. Value=customercosts−customerbenefits. a. True b. False 10. Themarketingenvironmentisasetofstatic,unchangingsurroundings. a. True b. False

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Chap01_20e 11.Achievementofthefirm'soverallgoalsispartofthemarketingconcept. a.True b.False 12.Inmarketing,aproductcanbeagoodoraservicebutnotanidea. a.True b.False 13.Themarketingconceptstressesthatabusinessorganizationcanbestachieveitsgoalbyprovidingcustomer satisfactionthroughcoordinatedactivities. a.True b.False 14.Whenassessingvalue,customersconsidernonmonetarycostssuchastimeandeffort. a.True b.False 15.Atargetmarketisaspecificgroupofcustomersonwhomanorganizationfocusesitsmarketingefforts. a.True b.False 16.Theactualphysicalproductionofgoodsisamarketingactivity. a.True b.False 17.Forabusinessorganizationtoremainhealthyandtosurvive,itmustsellproductsandmakeprofits. a.True b.False 18.Themarketingconceptisaphilosophythatabusinessorganizationshouldemploytosatisfycustomers'needs whileachievingtheoverallgoalsoftheorganization. a.True b.False 19.Profit,evenattheexpenseofcustomers'satisfaction,isthemajorthrustofthemarketingconcept. a.True b.False 20.Themarketconceptdevelopedoutofasequenceofthreeeras:theproductionorientation,themarketing orientation,andtheindustrialorientation. a.True b.False 21.Marketingeffortsdonotinvolvethedesignanddevelopmentofproducts. a.True b.False Copyright Cengage Learning. Powered by Cognero.

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Chap01_20e 22.Priceisseldomusedasacompetitivetool. a.True b.False 23.Themarketingconceptisaphilanthropicphilosophyaimedathelpingcustomersattheexpenseofthebusiness organization. a.True b.False 24.Customerbenefitsincludetimeandeffort. a.True b.False 25.Customerrelationshipmanagementistheuseofinformationaboutcustomerstocreatemarketingstrategiestha developandsustaindesirablecustomerrelationships. a.True b.False 26.Duringthemarketorientation,businesspeoplerealizedthatproducts,whichbythistimecouldbemaderelativel efficiently,wouldhavetobepromotedthroughmuchpersonalsellingandadvertising. a.True b.False 27.Marketingcostsconsumeaboutone-halfofabuyer'sdollar. a.True b.False 28.Productscanbegoods,services,orideas. a.True b.False 29.Customersarethefocalpointofallmarketingactivities. a.True b.False 30.Theprocesspeopleusetodeterminethevalueofaproductisnothighlyscientific. a.True b.False 31.Tosatisfycustomers'objectivesaswellasitsown,acompanymustcoordinateallitsactivities. a.True b.False 32.Organizationshavetodefinetheirproductsaswhattheymakeorproduce. a.True b.False Copyright Cengage Learning. Powered by Cognero.

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Chap01_20e 33.Theimpactofenvironmentalforcesonvaluecanbeextensiveasmarketchangescaneasilyinfluencehow stakeholdersperceivecertainproducts. a.True b.False 34.Knowingaboutmarketingcanhelpyouevaluatethetypesofcorrectivemeasuresneededtostopquestionable marketingpractices. a.True b.False 35.Theabilitytoidentifyindividualcustomersallowsmarketerstoshifttheirfocusfromincreasingtheirshareofan individualcustomer’spurchasestotargetinggroupsofsimilarcustomers. a.True b.False 36.Themarketingmixconsistsofthreemajorvariables:product,price,anddistribution. a.True b.False 37.Themarketingconceptdirectlyaffectsmarketingactivitiesbutshouldhavenegligibleimpactonother organizationalactivities. a.True b.False 38.Toimplementthemarketingconcept,anorganizationmustfirstestablishaninformationsystemtodiscover customers'realneedsandthenusetheinformationtocreateproductstosatisfythoseneeds. a.True b.False 39.Promotioncanhelpsustaininterestinestablishedproductsthathavelongbeenavailable. a.True b.False 40.Therearefourconditionsthatmustbemetbeforeanexchangecantakeplace.Oncetheseconditionsaremet, anexchangewillalwaystakeplace. a.True b.False 41.Atthemostbasiclevel,profitscanbeobtainedthroughrelationshipsbyacquiringnewcustomers,enhancingth profitabilityofexistingcustomers,andextendingthedurationofcustomerrelationships. a.True b.False

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Chap01_20e 42.Duringthemarketorientation,businesspeoplerealizedthatiftheycouldproduceproductsefficiently,customers wouldbuythem. a.True b.False 43.Servicesareprovidedbyapplyinghumanandmechanicaleffortstopeopleorobjectstoprovideintangible benefitstocustomer. a.True b.False 44.Basicandextendedwarrantiescanreducerisk,amajorcustomercost. a.True b.False 45.Customersareinterestedinaproduct'spricebecausetheyareconcernedaboutthevalueobtainedinan exchange. a.True b.False 46.Themarketingconceptisamanagementphilosophy,notaseconddefinitionofmarketing. a.True b.False 47.Thebroadestandsimplestdefinitionofmarketingstatesthatitisthedevelopmentandefficientdistributionof productsforconsumersegments. a.True b.False 48.Themarketconceptstressesthatanorganizationcanbestachieveitsobjectivesbybeingcustomer-oriented. a.True b.False 49.Theoutcomesofamarketer'sdecisionsandactionsmaybeaffectedbythevariablesinthemarketing environment. a.True b.False 50.Toreducecustomercostsandtherebyincreasetheirsenseofvalue,companiescanincreaseproduct availability. a.True b.False

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Chap01_20e 51.Paytonisasalsadancerwhowantstobecomeaprofessional.Everytimeshehasaperformance,sheplacesa flyerinthelocalcommunitycenterandencouragesherfriendstotellothersabouttheperformance.Paytonis engaginginmarketingactivities. a.True b.False 52.Thereasonthemarketingconceptisnamedthiswayisthatitpertainssolelytomarketing. a.True b.False 53.Amarketorientationrequirestheorganization-widegenerationofmarketintelligencepertainingtocurrentand futurecustomerneeds,disseminationoftheintelligenceacrossdepartments,andorganization-wide responsivenesstoit. a.True b.False Indicatetheanswerchoicethatbestcompletesthestatementoranswersthequestion. 54.Organizationsshoulddefinethemselvesnotaccordingtotheproductstheyproducebutaccordingto a.howprofitabletheyare. b.thepriceoftheirstock. c.theabundanceoftheirproductselection. d.howtheytreatemployees. e.howtheysatisfycustomers. 55.Businessesthatviewsalesasthemajormeansofincreasingprofitsareoperatingwitha_____orientation. a.production b.market c.disruptive d.sales e.green 56.Themarketingconcept a.isadefinitionofmarketingtoattractcustomers. b.focusesonsellingandadvertisingtoachieveorganizationalgoals. c.focusesonproductionandsellingtoachieveorganizationalgoals. d.isastrategyforachievingorganizationalgoalsbyfollowingmanagementintuition. e.isamanagementphilosophythataffectsallorganizationalactivities.

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Chap01_20e 57.Themarketingconceptaffects a.justthemarketingdepartment. b.allorganizationalactivities. c.onlymarketingandfinance. d.onlyproductionandmarketing. e.fewdecisionsinanorganization. 58.Theproductvariableofthemarketingmixcanincludeallofthefollowingexcept a.creationofbrandnames. b.consumerperceptionoftheproductprice. c.developmentofproductpackaging. d.warrantyissues e.repairservices. 59.Whichofthefollowingaboutmarketingistrue? a.Marketingknowledgeenhancesconsumerawareness. b.Marketingisonlyusedbyfor-profitandgovernmentorganizations. c.Marketingismorelikelytoleadtoamorejustgovernment. d.Marketingactivitiesaredecliningduetonewtechnology. e.Themarketingprofessionisthehighest-payingprofession.

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Chap01_20e Scenario1.3 Usethefollowingtheanswerthequestions. ArecentmeetingoftheCouncilofLogisticsManagementProfessionalsfeaturedanexecutivefromHP,which isknownforitsabilitytocustomizecomputerstocustomers’needsaswellastheabilitytoprovidequality productsthroughitsretailchannel.Theexecutivediscussedthefirm’scapabilitiesregardingtheabilityto produceproductsthatare“built-to-order”andnotedthatrecentcustomerinsightshowedcustomerswereless willingtowait7to10daystoreceivetheircomputereventhoughitwasbuilttotheirspecifications.Asaresult ofthiscustomertrend,HPbeganforgingrelationshipswithretailerssuchasBestBuytoprovidealimited numberofcomputermodelsintheretailers’stores.InordertofulfilltheorderstoBestBuy,HPwasrequiredto makechangesinitsproductionandmanufacturingsuchasholdingmoreproductsininventoryandutilizing differentmodesoftransportation.Forexample,HPwasabletoshiftfromafocusonairtransportationtooverthe-roadtrucking,whichenabledittocutcostsinsomeareas.AsHPshiftedfroma“build-to-order” manufacturertoa“make-to-stock”manufacturer,italsohadtomakeinvestmentsincustomeranalyticsto identifycustomerneedsaswellascollectinsightregardingpricing.Thiscustomerinsightwasespecially importanttotheretailpartnerslikeBestBuy,whichrequiresitsvendorstojustifyproductstockdecisionsand provideproofthatretailinventorywillsellattheprojectedpricepoints.HP’sabilitytomodifyitsbusinessmode byforgingrelationshipswithretailerssuchasBestBuyaswellascustomerinsightshashelpedthecompany achieveitsrevenueandprofitabilitygoals. 60.RefertoScenario1.3.Whichenvironmentalfactorisexemplifiedbythecustomertrendthatconsumerswere nolongerwillingtowait7to10daysfora“build-to-order”computerandledHPtomodifyitsbusinessmodelto becomea“make-to-stock”manufacturer? a.Economic b.Competitive c.Legal d.Sociocultural e.Regulatory 61.Amarketingmanagerforasmalllaptopmanufacturerisanalyzingthepotentialeffectsofpolitical,legal, sociocultural,andeconomicforcesonthefirm'soperations.Themarketingmanagerisexaminingthe____that influence(s)thefirm'sstrategy. a.operatingsituation b.marketingenvironment c.surroundings d.economicconditions e.trends 62.Tofulfillcustomerexpectationsaboutaseller’sfuturebehavior,marketersmust a.deliveronpromisesmade. b.advertiseandsellproducts. c.create,distribute,promote,andpriceproducts. d.maintainfavorablerelationshipswithstakeholders. e.tellthetruthonsocialmedia.

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Chap01_20e 63.Thepublicisbecomingmoreawareofhowmarketers'activitiesaffectthewelfareofconsumersandsociety. Asaresult,morefirmsareworkingto a.raisepricesinordertoincreasetheirprofitssothattheycancontributetophilanthropiccauses. b.reducethequalityoftheirproductsinordertosavemoneyandprovidelessexpensiveproductstotheir consumers. c.reducetheirprofitsbydonatingmoretimeandmoneytoimprovesocialwelfareand environmentalconditions. d.enactlawsrequiringcompaniestoworktowardthewelfareofcustomersandsociety. e.createaresponsibleapproachtodevelopinglong-termrelationshipswithcustomersandsociety. 64.YouwillgivethekeynoteaddressattheannualmeetingoftheAmericanCerealMakersAssociation.You realizemostoftheattendeesthinkmarketingisjustadvertising.So,youdecidetostartyourkeynoteaddressby definingwhatmarketingisinordertosetthepropercontextforyourspeech. Youdefinemarketingas: a.theprocessofcreating,distributing,promoting,andpricinggoods,services,andideastofacilitate satisfyingexchangerelationshipswithcustomers. b.theprocessofpersuadingorseekingtopersuadeacustomerororganizationtotakeapreferredcourse ofaction. c.theprocessofspeakingorwritinginsupportordefenseofafirm’sproductsorservices. d.theprocessorpracticeofcallingpublicattentiontoafirm’sgoodsandservicesthroughcommunications inprintmedia,socialmediaorotherformsofinformationdistribution. e.theprocessofprovingthataproductorserviceofferedbyanorganizationmeetsorexceedscustomers’ expectations. 65.H&Mconductedmarketingresearchtoidentifyexplanationsforthesalesdeclinesitsretailstoresare experiencingacrosstheUnitedStates.Theresearchfocusedonunderstandingtheshoppinghabitsanddesires ofakeytargetmarket—theMillennialgeneration.TheresultsindicatethatMillennialsaremoreinterestedin supportingorganizationsthatstandforsomething—orsupportacauseorcontributetoprovidingsocialjustice. TheinformationcanassistH&Minreorganizingthecompany,developingnewproductsandcommunicating withitstargetaudiencestobemoreeffective.Basedonthisinformation,whichorientationbestappliesto H&M? a.Salesorientation b.Targetmarketorientation c.Marketorientation d.Productionorientation e.Stakeholderorientation 66.Themarketingconceptfocuseson a.achievingthegoalsoftopexecutives. b.creatingmaximumvisibilityforthefirm. c.maximizingsalesinawaythathelpstoachieveorganizationalobjectives. d.maximizingmarketshareinawaythathelpstoachieveorganizationalobjectives. e.satisfyingcustomers'needsinawaythathelpstoachieveorganizationalobjectives. Copyright Cengage Learning. Powered by Cognero.

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Chap01_20e 67.Whichoneofthefollowingstatementsbyacompanypresidentbestreflectsthemarketingconcept? a.Wehaveorganizedourbusinesstomakecertainthatcustomersgetwhattheywant. b.Webelievethatthemarketingdepartmentmustorganizetosellwhatweproduce. c.Wehaveorganizedanaggressivesalesforceinourcompanytopromoteourproducts. d.Wetrytoproduceonlyhigh-quality,technicallyefficientproducts. e.Wetrytoencouragecompanygrowth. 68.Youbelieveoneofthemosteffectivewaystoremindyourstaffaboutkeymarketingconceptsandobjectivesi togivethemdeskplaqueswithsimplephrases.Youwanttocreateaphrasethatremindsthemthattheir primaryfocusshouldbecreatingcustomervalue. Whichofthefollowingphrasesbesttellsthestoryofwhatcustomervalueis? a.“CustomerBenefits=CustomerValue–CustomerCosts” b.“ CustomerValue=CustomerBenefits+CustomerCosts” c.“ CustomerCosts>CustomerBenefits=CustomerValue” d.“CustomerValue=CustomerBenefits–CustomerCosts” e.“ CustomerValue=CustomerBenefits=CustomerCosts” 69.Target'stagline"ExpectMore,PayLess"emphasizeswhichmarketingmixvariable? a.Promotion b.Pricing c.Exchange d.Product e.Distribution 70.Higherpricescanbeusedcompetitivelyto a.achievehighermarketshare. b.achievegreaterprofits. c.startapricewar. d.establishaproduct’spremiumimage. e.conveyvalue.

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Chap01_20e Scenario1.1 Usethefollowingtoanswerthequestions. GreenHillsCemeteryinupstateNewYorkoffersafull-servicefuneralandburialthatisnon-toxictothe environment.Allmaterialsusedintheburialarenaturalandwilldecomposewithnonegativeimpact.Green Hills'serviceisrelativelynewintheUnitedStates,butservicesofthistypearecommoninGreatBritain.A typicalburialinGreenHills'cemeteryincludesacasketmadefrombamboo,wicker,paper,orothernatural material.Therearenoheadstonesofstoneorconcretethatwilldetractfromthelandscape,buttreesandplants as"markers"areallowed.ThecostforaburialatGreenHillsisapproximately$3,000,comparedtoabout $6,000atmosttraditionalcemeteries.Althoughbusinesswasslowatfirst,GreenHillsisnowexperiencingan increaseinthenumberofburials,duetoreferralsandanewly-developedwebsite.TheownersofGreenHills werepreviouslyinthecemeterybusiness,andareactiveconservationistandwantedtomaketheirbusiness moresustainable.AfterconductingresearchandfindingthattherewerenaturalburialsitesinGreatBritain, theywantedtoprovideanalternativetootherenvironmentally-consciousAmericanslikethemselves. 71.RefertoScenario1.1.AnewwebsitehashelpedGreenHills'pre-plannedfuneralbusinessgrow.Thiswould comeunderwhichofthefollowingmarketingmixvariables? a.Product b.Price c.Dis...