Test Bank For MM 3rd Edition by Dawn Iacobucci
Chapter 1 – Why is Marketing Management Important?
TRUE/FALSE
- If you ask the average person, “What is marketing?” you might hear something like, “Marketers make people buy stuff they don’t need and can’t afford.”
ANS: T DIF: Moderate REF: Page 3
NAT: BUSPROG Analytic LOC: DISC: Customer
TOP: Defining Marketing KEY: Bloom’s: Knowledge
MSC: MBA: Knowledge of human behavior & society
- Marketing is defined as an exchange between a firm and its customers.
ANS: T DIF: Easy REF: Page 3
NAT: BUSPROG Communication LOC: DISC: Customer
TOP: Marketing is an Exchange Relationship
KEY: Bloom’s: Knowledge
MSC: MBA: Knowledge of General Business Functions
- Customers typically do not mind paying for purchases, if they like what they are purchasing.
ANS: T DIF: Moderate REF: Page 3
NAT: BUSPROG Reflective Thinking LOC: DISC: Customer
TOP: Marketing is an Exchange Relationship
KEY: Bloom’s: Comprehension
MSC: MBA: Knowledge of General Business Functions
- John just purchased a new Honda Civic from the local Honda dealership. Even though John was happy and Honda made a profit, this was not a symbiotic relationship.
ANS: F DIF: Challenging REF: Page 3
NAT: BUSPROG Reflective Thinking LOC: DISC: Customer
TOP: Marketing is an Exchange Relationship
KEY: Bloom’s: Application
MSC: MBA: Knowledge of human behavior & society
- Marketers try to figure out what customers want and then they try to figure out how to provide it and make money doing so.
ANS: T DIF: Moderate REF: Page 3
NAT: BUSPROG Analytic LOC: DISC: Strategy
TOP: Marketing is an Exchange Relationship
KEY: Bloom’s: Comprehension
MSC: MBA: Knowledge of General Business Functions
- In an exchange, the customer wants something from the company but the company wants nothing from the customer.
ANS: F DIF: Easy REF: Page 3
NAT: BUSPROG Communication LOC: DISC: Customer
TOP: Marketing is an Exchange Relationship
KEY: Bloom’s: Knowledge
MSC: MBA: Knowledge of human behavior & society
- Most companies would agree that taking in profits is much more important than keeping customers happy.
ANS: F DIF: Challenging REF: Page 3
NAT: BUSPROG Analytic LOC: DISC: Customer
TOP: Marketing is an Exchange Relationship
KEY: Bloom’s: Synthesis MSC: MBA: Managing Human Capital
- The term “market” sounds like it involves selling simple, tangible goods, but as you know, hardly anything can be marketed.
ANS: F DIF: Moderate REF: Page 3
NAT: BUSPROG Reflective Thinking LOC: DISC: Marketing Plan
TOP: Marketing is Everywhere KEY: Bloom’s: Comprehension
MSC: MBA: Managing Strategy & Innovation
- Angela, who owns her own green cleaning service, is a marketer when she promotes her business to new clients.
ANS: T DIF: Challenging REF: Page 3
NAT: BUSPROG Analytic LOC: DISC: Marketing Plan
TOP: Marketing is Everywhere KEY: Bloom’s: Application
MSC: MBA: Managing Strategy & Innovation
- Marketers help athletes, celebrities, and politicians with their images in their respective marketplaces (to fans and agents, intelligentsia, or the public).
ANS: T DIF: Easy REF: Page 3
NAT: BUSPROG Communication LOC: DISC: Promotion
TOP: Marketing is Everywhere KEY: Bloom’s: Knowledge
MSC: MBA: Knowledge of Media Communications & Delivery
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