80 free test bank for marketing management 3rd edition

80 Free Test Bank for Marketing Management 3rd
Edition
by Iacobucci Mutiple Choice Questions
The marketing framework can be used when you’re ____.
1.

a.buying a car

2.

b.working on a case for class

3.

c.trying to decide where to eat lunch

4.

d.doing your taxes

The textbook uses the ____ over and over so that you will pick it up
by osmosis.
1.

a.marketing background

2.

b.customer model

3.

c.5Cs, STP, and 4Ps

4.

d.Maslow model

Which of the following is defined to be an exchange between a firm
and its customers?
1.

a.advertising

2.

b.consumer behavior

3.

c.marketing

4.

d.finance

In each chapter you will see _____ over and over again
1.

a.consequentialism ethics

2.

b.marketing terminology

3.

c.the 5Cs, STP, and 4Ps


4.

d.marketing concepts

Marketers try to figure out what __________ want and then they try
to figure out how to provide it and make money doing so.
1.

a.business owners

2.

b.customers

3.

c.advertisers

4.

d.companies

If companies are good and if they’re lucky, the exchange continues
iterating between the customer and the company, ___________ the
tie between them.
1.

a.strengthening

2.

b.weakening

3.

c.distracting

4.

d.exhausting

What is the result companies see from happier customers due to
marketing?
1.

a.Companies are less profitable

2.

b.Companies market less

3.

c.Companies are more profitable

4.

d.Companies see no results

The questions and issues that the reader can expect to understand
better in each chapter is revisited at the end of the chapter in a list
format called _____.
1.

a.Managerial Recap

2.

b.Managerial Checklist

3.

c.Question Recap


4.

d.Marketing Recap

If you ask the average person, “What is marketing?,” one of the
things you might hear is:

1.

a.Marketing is sales and advertising

2.

b.Marketing is fun

3.

c.Marketing is the backbone of all business

4.

d.Marking is not profitable

A company’s marketing executives should assess the _____ in
terms of a general analysis of a business problem or opportunity the
company is facing.
1.

a.business situation

2.

b.5Cs

3.

c.STP

4.

d.ARA

What do the letters CMO represent?
1.

a.Chief Management Officer

2.

b.Central Marketing Organization

3.

c.Central Management Officer

4.

d.Chief Marketing Officer

Why do accounting and finance need to acknowledge the
importance of marketing?
1.

a.because marketing generates sales

2.

b.because the CEOs do

3.

c.because marketing generates buzz

4.

d.because a monopoly is the only way to make a profit


Marketers help/work with all of the following EXCEPT:
1.

a.athletes

2.

b.hotels

3.

c.department stores

4.

d.pets

A company has its best chance at keeping its customers happy if
it’s in close ____ with them.

1.

a.context

2.

b.communication

3.

c.cooperation

4.

d.support

Which of the following is NOT part of the 5Cs?
1.

a.context

2.

b.customer

3.

c.corporation

4.

d.competitors

The book gives a clear knowledge of marketing at both the strategic
and conceptual level as well as the ____.
1.

a.virtual level

2.

b.tactical, hands-on level

3.

c.lower level

4.

d.psychological level

Due to marketing’s success in business, what do management
gurus think about marketing’s role in a company?
1.

a.they think its role is to direct sales


2.

b.it takes no special skill to be a good marketer anymore

3.

c.that it’s not just a function anymore

4.

d.it’s the most important aspect

What is marketing NOT all about?
1.

a.finding out what customers like

2.

b.providing what customers like

3.

c.making a profit

4.

d.organizing the structure of a business

The question, “Will customers want what your company is prepared
to produce?,” best describes with of these 4Ps?
1.

a.product

2.

b.price

3.

c.place

4.

d.promotion

Great marketing is based on ______ laws of human and
organization behavior.
1.

a.philosophical

2.

b.feelings about

3.

c.intuitive

4.

d.economic and psychological

The process orientation perspective of ethics is called ____.
1.

a.psychological

2.

b.philosophical

3.

c.deontological


4.

d.consequentialism

What is the best way to stay 5 steps ahead of the competition?
1.

a.focus on profits

2.

b.remain customer centric

3.

c.focus on what the CEO wants

4.

d.study the competition

What can be marketed?
1.

a.vacation destinations

2.

b.professional athletes

3.

c.just about anything

4.

d.clothes

The outcome orientation perspective of ethics is called ____.
1.

a.psychological

2.

b.philosophical

3.

c.deontological

4.

d.consequentialism

Advertising's goal is to enhance _____.
1.

a.brand image

2.

b.profit

3.

c.marketing

4.

d.purchases

Fundamentally, the best marketers put themselves in the place of

their _____.
1.

a.company


2.

b.customers

3.

c.competitors

4.

d.friends

Marketing is thought to be evidence of an evolved ____.
1.

a.society

2.

b.business

3.

c.customer

4.

d.market

What order is correct for the marketing framework?
1.

a.5Cs, 4Ps, STP

2.

b.4Ps, 5Cs, STP

3.

c.5Cs, STP, 4Ps

4.

d.STP, 5Cs, 4Ps

Each chapter in the textbook answers what question?
1.

a.Which of the 5Cs is covered in this chapter?

2.

b.What is the topic in this chapter?

3.

c.What makes a great marketer?

4.

d.What do you need to do to market your own business?

One reason marketers want to quantify how effective their programs
are is to show that they increase profits. The other reason
marketers want to quantify their effectiveness is to _____.
1.

a.try to raise their rank among the function

2.

b.have a seat at the table with the CEO, CFO, etc.

3.

c.be able to direct sales


4.

d.make more effective promotions

The textbook will assume that _____ will be used for data intake in

a company.
1.

a.experts

2.

b.the Internet

3.

c.polls

4.

d.focus groups

The 4Ps include all of the following EXCEPT:
1.

a.positioning

2.

b.price

3.

c.product

4.

d.place

Which of the following is NOT a part of STP?
1.

a.segmentation

2.

b.positioning

3.

c.targeting

4.

d.All are part of STP

What is one of the largest factors stressing out marketers these
days?
1.

a.the pressure increase stock price

2.

b.the pressure to prove they are valuable

3.

c.the pressure to show results

4.

d.the pressure to produce more money than R&D

Marketing can make customers happier, which makes companies
____.


1.

a.more profitable

2.

b.less vulnerable

3.

c.more operational

4.

d.more ductile

What is today’s marketplace focused more on?

1.

a.business

2.

b.customers

3.

c.product

4.

d.price

_____ and _____ are the central players in the marketing
exchange.
1.

a.Context, customer

2.

b.Collaborator, competitor

3.

c.Context, company

4.

d.Customer, company

Great marketing is NOT ____.
1.

a.soft

2.

b.economic

3.

c.logical

4.

d.psychological

What did the early marketplace primarily focus on?
1.

a.product

2.

b.promotion

3.

c.price


4.

d.place

Which of the following is NOT a question that each chapter in the
textbook answers?
1.

a.Why does it matter?

2.

b.What is the topic in this chapter?

3.

c.How do I do this?

4.

d.What do you need to do to market your own business?


10 Free Test Bank for MM 3rd Edition by Iacobucci Free
Text Questions

List at least 5 categories of items that can be marketed.
Answer Given

- tangible goods like soap or cereal; - high-end items like jewelry; - services like
hotels and restaurants; - experiences like theme parks; - people, like athletes and
politicians; - a town or city; - causes; for example, a nonprofit’s goal - yourself; for
example, in an interview.

List and describe the 4Ps.
Answer Given

The 4Ps are product, price, promotion, and place. A marketer's responsibilities are to
create a product that customers are likely to need or want; price the product
appropriately; promote it via advertising and sales promotions to help customers
understand the product’s benefits and value; and make the product available for
purchase in easily accessed places.

Describe the main layout of the textbook.
Answer Given

The textbook focuses on how a product benefits customers. The textbook presents
on a global basis because the world is running on a global scale due to the Internet;
The textbook trains you to think like a marketer. Marketing is based on logical,
measurable behavior, not art or intuition. The textbook teaches you how to think
about marketing in a scientific way.

Define marketing’s exchange relationship.
Answer Given

Marketing is defined to be an exchange between a firm and its customers. The

customer wants something from the firm, and the firm wants something from the
customer. Marketers try to figure out what customers want and then they try to figure
out how to provide it and make money doing so.

List 3 of the 5 main points from this chapter.
Answer Given


- marketing is customer focused and it should be profitable; - marketing is a
relationship between customers and a company; - anything can be marketed; - the
marketing framework is based on the 5Cs, STP, 4Ps; - if you remain customercentric you will stay ahead of the competition.

List and describe the 5Cs.
Answer Given

The 5Cs are customer, company, context, collaborators, and competitors. These Cs
help us assess any particular business problem or opportunity in terms of a general
analysis of the entire business situation. The customer and company are obviously
the central players in the marketing exchange. The context includes things like the
macroenvironment: How are our economy and that of our suppliers doing? What
legal constraints might we face? What cultural differences do our global segments
manifest? The collaborators and competitors are the companies and people we work
with vs. those we compete against, although drawing the line is sometimes difficult in
today’s global, networked economy.

Describe the evolution of marketing.
Answer Given

At first marketing was simply product or production-focused. Over time, simply
building a better version of a previous product was not good enough. Marketers had

to start really listening to their customers and providing what they wanted. In today’s
age, companies seek a true relationship with their customers instead of just trying to
sell them something.

Why is it important not to go overboard on effects to quantify
marketing’s results? Describe why segmentation strategy and
advertising’s results should not be over analyzed.
Answer Given

If you go overboard to quantify marketing’s results, you will get skewed results of
reality. For example, suppose you are trying to asses the value of a segmentation
strategy. If the segments are poorly defined, then the results of the segmentation
study may not be accurate. Also, it is difficult to measure the results of advertising in
the short term. The main goal of advertising should be to enhance brand image, and
that takes a lot longer than short-term sales.

Define STP and explain how it influences the marketing process.
Answer Given


STP stands for segmentation, targeting, and positioning. The STP part of marketing
refers to the fact that we are very unlikely to be all things to all people, so it’s best to
identify groups, or segments, of customers who share similar needs and wants.
Once we understand the different segments’ preferences, and we presumably can
identify our own company’s strengths, we can identify the segment we should target
with our marketing efforts. We then strike up a conversation and relationship with
that target segment by positioning our product to them in the marketplace via the
4Ps.

Describe how different functions in a business interact with

marketing, and why they should understand marketing.
Answer Given

- Accounting and finance need to understand the importance of marketing because
the CEO does. With competition you always need to be thinking about your
customers; - Sales people understand marketing. They know that if their company
makes products the customer wants, their job will be easier; - R&D people
appreciate marketing because they know they if their inventions become popular and
sell, they will have success.


40 Free Test Bank for MM 3rd Edition by Iacobucci True
- False Questions
STP stands for segmentation, targeting and positioning.
1.

True

2.

False

There are many contingencies that modify marketing plans.
1.

True

2.

False

Marketers try to figure out what customers want and then they try to
figure out how to provide it and make money doing so.
1.

True

2.

False

You’ll always be a step ahead of your competition if you simply
think about your company.
1.

True

2.

False

Some things that can be marketed include goods, services,
experiences, events, and people.
1.

True

2.

False

Optimal business solutions should reflect a complete knowledge of
how the 5Cs, STP and 4Ps change with changes in customers,
competitors, and the legal environment.
1.

True

2.

False


John, an MBA student, finds the textbook useful because each
chapter is organized by a framework that shows how all the
marketing pieces come together to form the whole picture.
1.

True

2.

False

The term “market” sounds like it involves selling simple, tangible
goods, but as you know, hardly anything can be marketed.
1.

True

2.

False

Pfizer does not use direct-to-consumer ads to push their
pharmaceutical drugs, as it is unlikely patients will ask their doctor
for a particular brand name.
1.

True

2.

False

Great marketing is based on sound, logical—emotional and
physical—laws of human and organization behavior.
1.

True

2.

False

Most companies perform the marketing function easily.
1.

True

2.

False

Meredith owns a consulting firm that advises on intellectual
property. She would hire a marketer but she doesn’t because you
cannot market a consulting firm.
1.

True

2.

False


Marketing is defined as an exchange between a firm and its
customers.
1.

True

2.

False

“How do I do this—show me what to do so I can be successful!,” is
one of the issues that is covered in each chapter of the textbook.
1.

True

2.

False

Customers typically do not mind paying for purchases, if they like
what they are purchasing.
1.

True

2.

False

Many management gurus believe that marketing has succeeded so
well that it really isn’t a function in an organization anymore.
1.

True

2.

False

When you try to find out how customers vary in their preferences,
needs, and resources you are in the “Targeting” phase of STP.
1.

True

2.

False

Most companies would agree that taking in profits is much more
important than keeping customers happy.
1.

True

2.

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.”
1.

True

2.

False

Marketing shows the evolution of markets. This is the change from
an industry just having production and sales to having true

relationships with its customers.
1.

True

2.

False

These days we live in a truly product-oriented and productempowered marketing world.
1.

True

2.

False

John is a marketer for Verizon. He puts together sales promotions
and advertisements for a new cell phone. He is applying the
“product” part of the 4Ps.
1.

True

2.

False

The outcome orientation style of ethics is called deontological

ethics.
1.

True

2.

False

R&D people don’t understand marketing because they are too
concerned with making the latest and greatest invention.
1.

True

2.

False


Marketing management is the overseeing of the processes of the
5Cs, STP, and 4Ps components.
1.

True

2.

False

Marketers help athletes, celebrities, and politicians with their
images in their respective marketplaces (to fans and agents,
intelligentsia, or the public).
1.

True

2.

False

A context question in a situational analysis might be: “What is
happening in our industry that might reshape our future business?”
1.

True

2.

False

Angela, who owns her own green cleaning service, is a marketer
when she promotes her business to new clients.
1.

True

2.

False

The 5Cs, STP, and 4Ps diagram is used at the beginning of every
chapter so that students can see a framework depicting how all the
marketing pieces come together to form the whole picture.
1.

True

2.

False

In order for marketing to have an equal vote in company decisions,
it needs to quantify the effectiveness of marketing programs. All
other departments in a company translate progress into financial
terms, and marketing needs to do this as well.
1.

True


2.

False

Marketers are under a lot of pressure to show results. There are a
lot of marketing activities for which results can be measured.
1.

True

2.

False

One of the factors currently stressing marketers is the pressure to
show results.
1.

True

2.

False

A marketer for the American Heart Association would be
responsible for their push of the message to eat foods lower in fat.
1.

True

2.

False

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.
1.

True

2.

False

Marketing will both enhance your career and make the world a
better place.
1.

True

2.

False

The 5Cs, STP, and 4Ps operate interdependently.
1.

True

2.

False


Sara works for a golf products company. In order for Sara to best
answer the question, “What do my customers want?,” she plays golf
and tries out the equipment.
1.

True

2.

False

Diana is the marketing vice president at Company ABC. As she
assesses any particular business problem or opportunity in terms of
general analysis, she should review the 5Ps.
1.

True

2.

False

Marketing can be used to educate the public.
1.

True

2.

False

In an exchange, the customer wants something from the company
but the company wants nothing from the customer.
1.

True

2.

False