Test Bank and Solutions For Marketing: The Core 6th Canadian Edition 6ce By Kerin PDF

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Test Bank, Solution Manual, ebook, Connect Assignments & Quizzes For Marketing: The Core 6th Canadian Edition By Roger A. Kerin, Hartley, Bonifacio, Dumont, Bureau ; 1260326942 · 9781260326949...

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Chapter 01 - Marketing Fundamentals

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Chapter 01 Marketing Fundamentals

True / False Questions 1. Marketing revolves primarily around promotion. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-01 The Role of Marketing

2. In most organizations, the Marketing function provides the connection to customers. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-01 The Role of Marketing

3. Creating products with added value is achieved only through pricing strategies. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

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Chapter 01 - Marketing Fundamentals

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4. Successful marketing is focused on customer needs and wants. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-02 Focusing on Customer Needs and Wants

5. A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

6. The marketing mix refers to the 4 Ps - product, price, promotion, and place. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-02 Define and analyze elements of the marketing mix. Topic: 01-04 Coordinating the Marketing Mix

7. Place refers only to a physical store where consumers can purchase a product. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-02 Define and analyze elements of the marketing mix. Topic: 01-04 Coordinating the Marketing Mix

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Chapter 01 - Marketing Fundamentals

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8. The marketing process is a continuous one that requires marketers to pay attention to detail and apply strategic, analytical, and creative-thinking skills. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-03 Outline the steps in the marketing process. Topic: 01-05 The Marketing Process

9. Exchange is described as the process of planning and managing goods, services, or ideas to meet consumer needs and organizational objectives. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-03 Outline the steps in the marketing process. Topic: 01-05 The Marketing Process

10. In marketing, a product is defined as something tangible that you can touch and own but not experience. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-04 Differentiate between goods; services; and ideas. Topic: 01-06 What Can Be Marketed?

11. An idea is a concept that typically looks for support. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-03 Outline the steps in the marketing process. Topic: 01-06 What Can Be Marketed?

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Chapter 01 - Marketing Fundamentals

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12. Market describes the potential consumers who have both the willingness and ability to buy a product. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-04 Differentiate between goods; services; and ideas. Topic: 01-07 What Is a Market?

13. In the production orientation stage, companies tried to hard-sell in order to make a profit. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

14. The sales orientation stage focused on satisfying the needs of consumers while trying to achieve organizational goals. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

15. The marketing orientation stage set in when organizations started focusing on satisfying the needs of consumers while achieving organizational objectives. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

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Chapter 01 - Marketing Fundamentals

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16. The marketing orientation stage sees organizations considering the lifetime value of their customers and striving to offer better products and services. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

17. Relationship marketing involves a personal, ongoing relationship between an organization and its customers that often starts before a sale occurs and lasts well beyond the point when a sale has concluded. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

18. CRM or Customer Relationship Management is a tool typically utilized by firms in the production orientation stage. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

19. Many large firms measure the effectiveness of purchase incentives through a measure called share of wallet. TRUE

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

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Chapter 01 - Marketing Fundamentals

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20. Customer relationship management is rooted in the knowledge that it is less expensive to service and maintain current customers than to obtain new ones. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

21. Database technology has surfaced as a tool that facilitates relationship marketing by putting a focus on corporate social responsibility (CSR) for the marketing industry, and is often facilitated by CSR software. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-05 Describe the evolution of different business philosophies. Topic: 01-08 The Evolution of Business Philosophies

22. Digital technology drives how consumers gather information, want to be entertained, and purchase products. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-10 Digital Marketing

23. Content marketing refers to firms sharing blogs, research papers, infographics and other digital resources with current and potential customers. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-10 Digital Marketing

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Chapter 01 - Marketing Fundamentals

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24. Mobile marketing refers to any form of advertising, such as those on trains, buses or cars, that are not fixed in location. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-10 Digital Marketing

25. Real-time marketing is easily planned out over extended time periods with little management. FALSE

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-11 Real-Time Marketing

26. Popular events like the Superbowl, Academy Awards and Olympics lend themselves to real-time marketing approaches. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-11 Real-Time Marketing

27. Experiential marketing seeks to build opportunities for consumers to interact with a brand. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-12 Experiential Marketing

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Chapter 01 - Marketing Fundamentals

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28. Partnership marketing is an approach where marketers create opportunities for consumers to interact directly with a brand. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-13 Partnership Marketing

29. Strategic alliance involves long-term arrangements between companies with similar values and objectives that extend beyond short-term promotional offers into long-term business agreements. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-13 Partnership Marketing

30. Strategic alliance is a form of partnership marketing. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-13 Partnership Marketing

31. Metrics are an important area that measures and monitors business performance. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-14 Metrics and Analytics

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Chapter 01 - Marketing Fundamentals

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32. Dashboards are business websites that help consumers navigate complex product choices. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-14 Metrics and Analytics

33. Digital technologies have reduced the need for consumer protections in marketing. FALSE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-15 Marketing Regulations and Ethical Considerations

34. Consumers' rights to privacy and do-not-track policies are important issues for marketers. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-06 Describe new and evolving marketing practices. Topic: 01-15 Marketing Regulations and Ethical Considerations

35. Typical entry-level positions in marketing include: marketing coordinator, marketing assistant, marketing analyst, and sales representative. TRUE

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-07 Summarize careers that exist in marketing. Topic: 01-16 Marketing Careers

Multiple Choice Questions

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Chapter 01 - Marketing Fundamentals

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36. Often, students believe marketing revolves around slick commercials and fancy promotions. But the ultimate objective is to _______ for a company. A. create a loyalty program B. drive profits C. add value for the customer D. retention plan For our purposes, marketers' ultimate objectives are to drive profits for a company, or if working the non-profit sector, to generate revenue and support to fund programs and run operations.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-01 The Role of Marketing

37. What is the essence of successful marketing? A. focusing on customers' needs B. making money C. making the exchange D. retention plan The essence of successful marketing is focusing on customer needs and developing programs that delight customers and encourage loyalty.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-02 Focusing on Customer Needs and Wants

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Chapter 01 - Marketing Fundamentals

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38. The unique combination of benefits received by targeted consumers that include quality, price, convenience, delivery, and both before-sale and after-sale service is called customer _____. A. loyalty program B. value C. convenience D. retention plan For our purposes, customer value is the unique combination of benefits received by targeted consumers that includes quality, price, convenience, delivery, and both before-sale and aftersale service.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

39. Walmart's mission includes developing a combination of benefits for its customers through quality products at reasonable prices with quality service, and giving its customers the best products at the best price. This statement represents the company's strategies at achieving _____. A. production orientation B. a diverse marketing mix C. a societal marketing concept D. customer value Customer value is the unique combination of benefits received by targeted consumers that includes quality, price, convenience, delivery, and both before-sale and after-sale service.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

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Chapter 01 - Marketing Fundamentals

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40. Chang, the marketing manager of Urban Companies, is analyzing the specific group of existing and potential customers for the launch of Urban's new product. Which of the following is Chang identifying? A. marketing mix B. promotional programs C. target market D. marketing process A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

41. The specific group(s) of existing and potential consumers to which marketers direct their marketing efforts is referred to as a _____. A. mass market B. tangent market C. market aggregation D. target market A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

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Chapter 01 - Marketing Fundamentals

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42. A target market is: A. one or more specific groups of existing and potential consumers toward which a marketer directs its marketing efforts. B. the one specific group of potential consumers on which an organization concentrates its marketing efforts. C. the distribution chain by which products reach consumers. D. a means of communication between buyers and sellers. A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

43. Sound and Cinema is a 10-year-old company that turns an ordinary basement into a home theatre. It advertises in publications that are mailed to homeowners in subdivisions in which the least expensive home costs $475,000. These homeowners are the _____ market for Sound and Cinema. A. mass B. tangent C. experiential D. target A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts.

Accessibility: Keyboard Navigation Blooms: Apply Difficulty: Moderate Learning Objective: 01-01 Explain the role of marketing in an organization and the importance of meeting customer needs. Topic: 01-03 Creating Customer Value

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Chapter 01 - Marketing Fundamentals

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44. An educational software company is developing a new line of computer software to teach preschoolers letter and number recognition. What is the primary target market for this new product? A. only preschoolers B. only adults C. adults with preschool-aged children D. adults who have an interest in educational toys A target market can be formally defined as the specific group of existing and potential consumers to which marketers direct their marketing efforts. While the market for this new line of computer software i...