CHAPTER 1 MASTER TEST BANK

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Chapter 01 Master Test Bank,CHAPTER 1 MASTER TEST BANK. CREATING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING. Test Item Table by Learning Objective and Bloom s Level of Learning. Bloom s Level of Learning LL,Learning Objective Level 1 Level 2 Level 3. LO Knowledge Comprehension Application, Knows Basic Terms Understands Concepts Applies Principles. Facts Principles, LO 1 1 Define marketing 5 7 8 9 10 11 12 13 4 6 14 15 16 18 19 17 21 22 26 27. and identify the 23 24 25 36 241 20 29 30 31 32 33 28 48 49 50 51. diverse factors,248 34 35 37 38 39 40 52 53 54 55,influencing.
marketing actions 41 42 43 44 45 46 247 250 253,249 251 252. LO 1 2 Explain how 1 56 59 62 63 67 68 57 58 60 64 69 72 61 65 66 73 79. marketing 70 71 76 77 78 80 74 75 83 84 85 86 87,discovers and. 81 82 242 255 256 278 88,satisfies consumer,needs 254 257 258 259. pp 7 10 279, LO 1 3 Distinguish 89 90 91 92 93 94 2 3 96 97 114 119 98 100 102 103. between 95 99 101 105 109 104 106 107 108,marketing mix 263.
112 113 115 116 117 110 111 120 121,factors and,environmental 118 122 123 124 125. forces 260 262 261 264, LO 1 4 Explain how 126 127 135 136 141 128 137 143 146 129 130 131 132. organizations 142 144 145 147 148 149 150 133 134 138 139. build strong,151 152 153 154 140,relationships and 155 243 244 245 265 266 267 268. customer value 246 269 270, LO 1 5 Describe how 156 158 159 164 165 160 167 168 169 157 161 162 163. today s customer 166 172 173 177 178 170 171 174 175 176 182 183 184. relationship era, 179 180 181 186 189 187 191 192 193 185 188 198 203.
differs from prior, eras 190 194 195 199 200 196 197 201 202 211 212 217 218. 208 209 210 214 215 204 205 206 207 227 228 229 230. 216 219 220 223 224 213 221 222 232 234 235 236,225 226 231 233 238 271 275 237 239 240. 272 276 273 274 277, NOTE Bold numbers indicate short essay questions Underlined numbers indicate visually enhanced questions. Copyright 2015 McGraw Hill Education All rights reserved No reproduction or distribution without the prior written consent of McGraw Hill. Chapter 01 Master Test Bank,CHAPTER 1 MASTER TEST BANK. CREATING CUSTOMER RELATIONSHIPS AND VALUE THROUGH MARKETING. MULTIPLE CHOICE QUESTIONS,1 1 CHAPTER OPENER CHOBANI KNOWLEDGE.
The entirely new food category Chobani launched in 2005 was. a Italian style rag sauce,b Turkish style cottage cheese. c French style yogurt,d Greek style yogurt,e Oriental style teriyaki sauce. Answer d Page s 2 LO 1 2 AACSB Analytic QD Easy, Rationale In 2005 Chobani Inc launched an entirely new food category Greek style yogurt. 1 2 CHAPTER OPENER CHOBANI COMPREHENSION, From its inception where did Hamdi Ulukaya the creator of Chobani Inc want to place. Chobani yogurt, a the organic foods section of major grocery store chains.
b in warehouse club stores like Sam s Club or Costco. c the dairy case of major grocery store chains,d in mass merchandise stores like Target. e in both independent organic cooperatives farmer s markets and major organic grocery stores. like Whole Foods or Sprouts,Answer c Page s 2 LO 1 3 AACSB Analytic QD Medium. Rationale From the very beginning Hamdi Ulukaya wanted distribution of Chobani yogurt in. major grocery chains and in their main dairy cases not in the niche or organic sections neither of. these chains nor in natural foods or specialty stores. 1 3 CHAPTER OPENER CHOBANI COMPREHENSION, All of the following are marketing mix strategies that Chobani has used to sell its yogurt. a develop a new yogurt product line for kids, b price the Chobani yogurt line below its major competitors Yoplait and Dannon to increase. sales and market share, c use Facebook YouTube and other social media to promote Chobani yogurt.
d rely on word of mouth to reach new customers,e employ a spokesperson to open a yogurt bar. Answer b Page s 2 4 LO 1 3 AACSB Analytic QD Medium. Copyright 2015 McGraw Hill Education All rights reserved No reproduction or distribution without the prior written consent of McGraw Hill. Chapter 01 Master Test Bank, Rationale Marketers at Chobani did not price the Chobani yogurt line below its major. competitors Yoplait and Dannon to increase sales and market share There is no mention of. Chobani s pricing strategy or tactics in the chapter opening example of the textbook. 1 4 MARKETING EXPERTISE COMPREHENSION, Which of the following statements about marketing is MOST ACCURATE. a Unless you take a marketing class you will never truly know anything about marketing. b Marketing is nothing more than common sense, c Marketing requires an innate sense of creativity you either have it or you don t. d You can call yourself a marketing expert only if you have sold something. e You are already a marketing expert because as a consumer you have already been involved. in marketing decisions,Answer e Page s 4 LO 1 1 AACSB Analytic QD Medium.
Rationale You are already a marketing expert because you perform many marketing activities. and make marketing related decisions every day although most likely on the buying rather than. the selling side,1 5 MARKETING AS A CAREER KNOWLEDGE. Mark Zuckerberg is a co founder of the social networking website called. a Pinterest,c LinkedIn,d Facebook,Answer d Page s 5 LO 1 1 AACSB Technology QD Easy. Rationale Mark Zuckerberg is a co founder of the social networking website called Facebook. 1 6 MARKETING AS A CAREER COMPREHENSION, Initially Facebook targeted which consumer market segment. a grade school children ages 6 to 12 years old,b high school students. c college students,d adults with professional occupations.
e senior adults 55 years and older, Answer c Page s 5 LO 1 1 AACSB Technology QD Medium. Rationale Initially Facebook targeted college students first at Harvard and then elsewhere and. then later people of any age,1 7 MARKETING AS A CAREER KNOWLEDGE. Copyright 2015 McGraw Hill Education All rights reserved No reproduction or distribution without the prior written consent of McGraw Hill. Chapter 01 Master Test Bank, Mark Zuckerberg encountered unimaginable success with his launch of TheFacebook com. website from his college dorm room By the end of the second week it had almost. Answer e Page s 5 LO 1 1 AACSB Analytic QD Easy, Rationale Mark Zuckerberg s new TheFacebook com website signed 900 college students. within four days after launch and almost 5 000 by the end of the second week. 1 8 BUSINESS FAILURES KNOWLEDGE, of all new businesses fail within five years of their launch.
a Only 5 percent,b Only 10 percent,c Only 25 percent. d About 40 percent,e Over 50 percent,Answer e Page s 5 LO 1 1 AACSB Analytic QD Easy. Rationale More than half of all new businesses fail within five years of their launch. 1 9 BUSINESS FAILURES KNOWLEDGE, More than half of all new businesses fail within years of their launch. Answer d Page s 5 LO 1 1 AACSB Analytic QD Easy, Rationale More than half of all new businesses fail within five years of their launch. 1 10 SMALL BUSINESS MARKETING KNOWLEDGE, Mark Zuckerberg s launch of TheFacebook com website became a huge success Yet more.
than half of all new businesses fail within years of their launch. Copyright 2015 McGraw Hill Education All rights reserved No reproduction or distribution without the prior written consent of McGraw Hill. Chapter 01 Master Test Bank,Answer d Page s 5 LO 1 1 AACSB Analytic QD Easy. Rationale More than half of all new businesses fail within five years of their launch showing. Mark Zuckerberg s TheFacebook com website was far far better than average. 1 11 WHAT IS MARKETING KNOWLEDGE,Marketing refers to. a the production of products or services that will generate the highest return on investment. b the strategies used in the advertising and promotion of products and services to customers. around the globe, c the process of identifying target market segments for a product or service. d the activity involved in getting a product or service from the manufacturer to ultimate. consumers and organizational buyers, e the activity for creating communicating delivering and exchanging offerings that benefit its. customers the organization its stakeholders and society at large. Answer e Page s 5 LO 1 1 AACSB Analytic QD Easy,Rationale Key term definition marketing.
1 12 WHAT IS MARKETING KNOWLEDGE, The activity for creating communicating delivering and exchanging offerings that benefit its. customers the organization its stakeholders and society at large is referred to as. a manufacturing,b advertising,c marketing,e promotion. Answer c Page s 5 LO 1 1 AACSB Analytic QD Easy,Rationale Key term definition marketing. 1 13 WHAT IS MARKETING KNOWLEDGE, The combined American Marketing Association s 2004 and 2007 definitions of marketing used in. the textbook define marketing as, a the activity for creating communicating delivering and exchanging offerings solely for the.
benefit of the organization s stockholders, b the activity for creating communicating delivering and exchanging offerings that benefit its. customers the organization its stakeholders and society at large. c the activity for creating communicating delivering and exchanging solely for the benefit of. the organization s employees, d the activity for selling a product or service at the highest possible price. e the activities of advertising promoting and selling products to the greatest number of. profitable customers,Answer b Page s 5 LO 1 1 AACSB Analytic QD Easy. Copyright 2015 McGraw Hill Education All rights reserved No reproduction or distribution without the prior written consent of McGraw Hill. Chapter 01 Master Test Bank,Rationale Key term definition marketing. 1 14 WHAT IS MARKETING COMPREHENSION, All of the following are true about marketing EXCEPT.
a Marketing is a broader activity than advertising. b Marketing stresses the importance of delivering genuine benefits in the offerings of goods. services and ideas sold to customers, c Marketing persuades people to buy the wrong things. d When an organization engages in marketing all stakeholders should benefit. e Marketing is a broader activity than personal selling. Answer c Page s 5 7 LO 1 1 AACSB Analytic QD Medium. Rationale Marketing is the activity for creating communicating delivering and exchanging. offerings that benefit its customers the organization its stakeholders and society at large This. definition shows marketing to be a far broader activity than simply advertising or personal. selling It stresses the importance of delivering genuine benefits in the offerings of goods. services and ideas marketed to customers Also note that the organization the stakeholders and. society should all benefit,1 15 STAKEHOLDERS COMPREHENSION. An organization s stockholders its suppliers its employees its customers and society at large all. share what in common with regard to an organization. a All are stakeholders and should benefit from the marketing of an organization s offering. b Everyone has a say in the ultimate design of a product. c Everyone is legally culpable if something goes wrong with a product. d All have to make some type of direct financial investment in the organization so it can. profitably sell its products, e All use the products and or services marketed by the organization. Answer a Page s 5 LO 1 1 AACSB Analytic QD Medium, Rationale The common factor is that all are stakeholders of an organization and should all. benefit from its marketing activities,1 16 STAKEHOLDERS COMPREHENSION.
Which of the following statements about stakeholders is MOST ACCURATE. a Ultimately the only relevant stakeholder is the ultimate consumer. b The suppliers shareholders employees and customers are all stakeholders of an organization. and all should benefit from the organization s marketing activities. c Employees can be stakeholders only if they own shares in their company. d Suppliers are the most important stakeholders because without them products could never be. e The only way to be a stakeholder is to have a financial investment in an organization s. product service or idea,Answer b Page s 5 LO 1 1 AACSB Analytic QD Medium. Copyright 2015 McGraw Hill Education All rights reserved No reproduction or distribution without the prior written consent of McGraw Hill. Chapter 01 Master Test Bank, Rationale The organization doing the marketing and the stakeholders affected such as. customers employees suppliers and shareholders and society should all benefit. 1 17 STAKEHOLDERS APPLICATION, Mizuno designs and sells high quality baseball gloves Who does NOT benefit from the firm s. marketing activities for its gloves, a a baseball or softball player who purchases a new Mizuno glove. b the Sports Authority salesperson who sells a customer a Mizuno glove. c the supplier who provided the leather to Mizuno, d the shareholder of Mizuno that designs and manufactures the gloves.
e all stakeholders should be benefit from Mizuno s marketing efforts even society at large. Answer e Page s 5 LO 1 1 AACSB Analytic QD Hard, Rationale The organization doing the marketing and the stakeholders affected such as. customers employees suppliers shareholders and society should all benefit. 1 18 DISCOVERING SATISFYING NEEDS WANTS COMPREHENSION. To serve both buyers and sellers marketing seeks to and satisfy the needs and wants. c Marketing requires an innate sense of creativity you either have it or you don t d You can call yourself a marketing expert only if you have sold something e You are already a marketing expert because as a consumer you have already been involved in marketing decisions Answer e Page s 4 LO 1 1 AACSB Analytic QD Medium Rationale You are already a marketing expert because you

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