Copyright 2012 Pearson Education, Inc.

1 Copyright © 2012 Pearson Education, Inc.

Marketing: Real People, Real Choices, 7e (Solomon / Marshall / Stuart)

Chapter 1 Welcome to the World of Marketing: Create and Deliver Value

1) ________ refers to the benefits a customer receives from purchasing a good or service.

• Satisfaction
• Demand
• Want
• Promotion
• Value

Answer: E

Diff: 1 Page Ref: 6

Skill: Concept

Objective: 1-1 Who marketers are and where they work

2) Which of the following is a current business trend?

• eliminating the marketing function
• integrating marketing with other business functions
• for-profit businesses becoming not-for-profit businesses
• fewer CEOs having experience in marketing
• isolating marketing from other business functions

Answer: B

Diff: 2 Page Ref: 8

Skill: Concept

Objective: 1-1 Who marketers are and where they work

3) Which of the following is NOT a marketing field?

• supply-channel management
• accounting
• brand management
• advertising
• new product planning

Answer: B

Diff: 2 Page Ref: 9-10

Skill: Concept

Objective: 1-1 Who marketers are and where they work

4) A(n) ________ is the ultimate user of a good or service.

• stakeholder
• market
• target market
• marketer
• consumer

Answer: E

Diff: 1 Page Ref: 10

Skill: Concept

Objective: 1-2 Value of marketing

Marketing Real People Real Choices 7e Michael Solomon Greg Marshall Elnora Stuart (Test Bank All Chapters, 100% Original Verified, A+ Grade) 1 / 4

2 Copyright © 2012 Pearson Education, Inc.5) ________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• Demand satisfaction
• Competitive advantage building
• Marketing
• Total Quality Management
• Value chain management

Answer: C

Diff: 1 Page Ref: 8

Skill: Concept

Objective: 1-2 Value of marketing

6) ________ is about delivering value to everyone who is affected by a transaction.

• Demand
• Competitive advantage
• Marketing
• Exchange
• The value chain

Answer: C

Diff: 1 Page Ref: 8

Skill: Concept

Objective: 1-2 Value of marketing

7) Buyers, sellers, investors, and community residents are all considered ________ in a company.

• stakeholders
• shareholders
• consumers
• value chain members
• social marketers

Answer: A

Diff: 1 Page Ref: 8

Skill: Concept

Objective: 1-2 Value of marketing

8) Marketers first identify consumer needs and then provide products that satisfy those needs.This practice is referred to as ________.

• the stakeholder orientation
• the marketing concept
• Total Quality Management
• the production orientation
• the marketing mix

Answer: B

Diff: 1 Page Ref: 10

Skill: Concept

Objective: 1-2 Value of marketing 2 / 4

3 Copyright © 2012 Pearson Education, Inc.9) When a gap exists between a consumer's actual state and some ideal or desired state, the consumer has a ________.

• benefit
• demand
• need
• value
• utility

Answer: C

Diff: 1 Page Ref: 10

Skill: Concept

Objective: 1-2 Value of marketing

10) A ________ is a desire for a particular product a consumer uses to satisfy a need in a specific way that is culturally and socially influenced.

• benefit
• demand
• value
• utility
• want

Answer: E

Diff: 1 Page Ref: 11

Skill: Concept

Objective: 1-2 Value of marketing

11) A ________ is the outcome that motivates a customer's buying behavior.

• benefit
• demand
• value
• need
• want

Answer: A

Diff: 2 Page Ref: 11

Skill: Concept

Objective: 1-2 Value of marketing

12) A customer's desire for a product coupled with the buying power or resources to obtain that product is called a ________.

• benefit
• demand
• need
• stake
• service

Answer: B

Diff: 1 Page Ref: 11

Skill: Concept

Objective: 1-2 Value of marketing 3 / 4

4 Copyright © 2012 Pearson Education, Inc.13) To be part of the ________ for a product, consumers must share a common need that can be satisfied by the product and have the resources, willingness, and authority to purchase the product.

• demand center
• audience
• value proposition
• marketplace
• market

Answer: E

Diff: 1 Page Ref: 11

Skill: Concept

Objective: 1-2 Value of marketing

14) A glitzy shopping mall, a mail-order catalog, a television shopping network, and an e- commerce Web site are all examples of ________.

• marketing concepts
• value chains
• monopolies
• marketplaces
• strategic business units

Answer: D

Diff: 1 Page Ref: 11

Skill: Concept

Objective: 1-2 Value of marketing

15) All of the following are forms of utility created by marketing processes EXCEPT ________.

• form utility
• place utility
• time utility
• possession utility
• price utility

Answer: E

Diff: 2 Page Ref: 12

Skill: Concept

Objective: 1-2 Value of marketing

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