Test bank for marketing management a strategic decision making approach 7th edition by mullins

Full file at />True or False Questions
[QUESTION]
1. In the financial markets it is a company’s top line—its sales—that is most important.
Answer: False
Degree of difficulty: Medium
Page: 5
Take-Away: 1
[QUESTION]
2. According to management guru Peter Drucker, everything a company does internally is a cost
center.
Answer: True
Degree of difficulty: Easy
Page: 5
Take-Away: 1
[QUESTION]
3. Decreased division and increased specialization of labor are some of the most important
changes that occur as societies move from a primitive economy toward higher levels of
economic development.
Answer: False
Degree of difficulty: Medium
Page: 6
Take-Away: 1
[QUESTION]
4. An unsatisfied need is a gap between a person’s actual and desired states on some physical or
psychological dimension.
Answer: True
Degree of difficulty: Easy
Page: 7
Take-Away: 4
[QUESTION]
5. Marketers and other social forces can create needs deriving from the biological and emotional

imperatives of human nature.
Answer: False
Degree of difficulty: Medium
Page: 8
Take-Away: 4
[QUESTION]
6. The laws of probability dictate that at least half of all new products should succeed if a
sufficient amount is spent on marketing research.
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Chapter 01 The Marketing Management Process
Answer: False
Degree of difficulty: Medium
Page: 9
Take-Away: 1
[QUESTION]
7. When people buy products to satisfy their needs, they are really buying the benefits they
believe the products provide, rather than the products per se.
Answer: True
Degree of difficulty: Easy
Page: 10-11
Take-Away: 2
[QUESTION]
8. Value is a function of extrinsic product features, service, and price.
Answer: False
Degree of difficulty: Medium
Page: 11
Take-Away: 3
[QUESTION]

9. Lifetime customer value is the present value of a stream of revenue that can be produced by a
customer over time.
Answer: True
Degree of difficulty: Easy
Page: 12
Take-Away: 3
[QUESTION]
10. A brand’s value to the company depends on how much value the company thinks the brand
provides customers.
Answer: False
Degree of difficulty: Easy
Page: 12
Take-Away: 3
[QUESTION]
11. Each market segment seeks a different set of benefits from the same product category.
Answer: True
Degree of difficulty: Easy
Page: 13
Take-Away: 6
[QUESTION]
12. The four Cs that need to be analyzed before decisions are made concerning specific
components of the marketing program are customer, cost, category, and the company itself.

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Test Bank, Chapter 1


Full file at />Answer: False
Degree of difficulty: Medium

Page: 14-15
Take-Away: 5
[QUESTION]
13. IBM has reduced its focus and the proportion of resources it devotes to its traditional
computer hardware businesses and is now seeking future growth and profits by investing heavily
in developing information engineering, software, and business consulting services. This change
in emphasis reflects IBM’s new business-level strategy.
Answer: False
Degree of difficulty: Medium
Page: 15
Take-Away: 6
[QUESTION]
14. The primary purpose of marketing activities is to facilitate and encourage exchange
transactions with potential customers.
Answer: True
Degree of difficulty: Easy
Page: 17
Take-Away: 6
[QUESTION]
15. The controllable elements of a marketing program are the product offering; price; promotion;
and place.
Answer: True
Degree of difficulty: Easy
Page: 18
Take-Away: 6
[QUESTION]
16. In the first part of a marketing plan, the marketing manager usually details the strategy for
the coming period.
Answer: False
Degree of difficulty: Medium

Page: 20
Take-Away: 6
[QUESTION]
17. Internal control of the full range of marketing functions and activities is referred to as vertical
integration.
Answer: True
Degree of difficulty: Medium
Page: 22
Take-Away: 1

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Chapter 01 The Marketing Management Process

[QUESTION]
18. Merchant wholesalers sell goods and services directly to final consumers for their personal,
nonbusiness use.
Answer: False
Degree of difficulty: Easy
Page: 22
Take-Away: 6
[QUESTION]
19. Venus prefers to buy a week’s groceries on a single trip to the supermarket rather than engage
in separate transactions with a butcher, a baker, and a variety of food processors, thereby
increasing transactional efficiency.
Answer: True
Degree of difficulty: Medium
Page: 23
Take-Away: 1

[QUESTION]
20. One benefit of an extensive marketing system is that specialization of labor and economies of
scale lead to functional efficiency.
Answer: True
Degree of difficulty: Medium
Page: 23
Take-Away: 1
[QUESTION]
21. A product has greater place utility for a potential customer when it can be purchased with a
minimum of risk and shopping time.
Answer: False
Degree of difficulty: Medium
Page: 23
Take-Away: 3
[QUESTION]
22. The title marketing manager is necessarily and intentionally vague because many people are
directly involved with an organization’s marketing activities.
Answer: True
Degree of difficulty: Medium
Page: 24
Take-Away: 6
[QUESTION]
23. All marketing activities that are performed in-house are within the domain of the marketing
department.
Answer: False

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Test Bank, Chapter 1

Full file at />Degree of difficulty: Medium
Page: 24
Take-Away: 1
[QUESTION]
24. Implementing a marketing plan requires cooperation and coordination across many
specialized functional areas, but the final authority should always be the marketing department.
In short, marketing should not be “everybody’s business.”
Answer: False
Degree of difficulty: Medium
Page: 24
Take-Away: 1
[QUESTION]
25. A service can be defined as “any activity or benefit that one party can offer another that is
essentially intangible and that does not result in the ownership of anything.”
Answer: True
Degree of difficulty: Easy
Page: 25
Take-Away: 3
[QUESTION]
26. The intangible nature of many services can create unique challenges for marketers.
Answer: True
Degree of difficulty: Easy
Page: 25
Take-Away: 3
[QUESTION]
27. Available data suggests that roughly 80 percent of Internet revenues are from Business-toConsumer (B2C) transactions.
Answer: False
Degree of difficulty: Easy
Page: 26

Take-Away: 1
[QUESTION]
28. Auction sites, such as eBay, QXL are examples of Consumer-to-Consumer (C2C) channels.
Answer: True
Degree of difficulty: Easy
Page: 27
Take-Away: 1
[QUESTION]
29. Information available over the Internet is affecting consumer purchase patterns even when
the purchases are made in traditional retail outlets.

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Chapter 01 The Marketing Management Process
Answer: True
Degree of difficulty: Easy
Page: 27
Take-Away: 6
[QUESTION]
30. Though the boundaries between functional areas still remain, marketing programs are
increasingly becoming a group activity.
Answer: False
Degree of difficulty: Medium
Page: 28
Take-Away: 1
Multiple Choice Questions
[QUESTION]
31. The most important characteristic of marketing as a business function is its focus on:
A. interfunctional responsibilities.

B. customer needs.
C. barter exchange requirements.
D. production efficiencies.
E. technological trends.
Answer: B
Degree of difficulty: Easy
Page: 5
Take-Away: 5
[QUESTION]
32. A society cannot reap the full benefits of specialization until it develops the means to
facilitate:
A. importation of essentials from other societies.
B. production of essentials by each member of society.
C. the trade and exchange of surpluses among its members.
D. countertrade with other societies.
E. production of goods in addition to services.
Answer: C
Degree of difficulty: Easy
Page: 6
Take-Away: 1
[QUESTION]
33. “A social process involving the activities necessary to enable individuals and organizations to
obtain what they need and want through exchanges with others” is a definition of:
A. distribution.
B. marketing.

6

Test Bank, Chapter 1

Full file at />C. barter.
D. countertrade.
E. industrialization.
Answer: B
Degree of difficulty: Easy
Page: 6
Take-Away: 1
[QUESTION]
34. The utilization of marketing approaches by hospitals, theaters, universities and nonprofit
organizations:
A. has not changed compared to practices in the past.
B. has increased substantially in the recent past.
C. is outside the domain of marketing per se.
D. is only appropriate in for-profit situations.
E. has decreased substantially in the past decade.
Answer: B
Degree of difficulty: Medium
Page: 7
Take-Away: 6
[QUESTION]
35. Those who buy goods and services for their own personal use or the use of others in their
immediate household are:
A. utilitarian consumers.
B. organizational customers.
C. intermediaries.
D. industrial customers.
E. ultimate consumers.
Answer: E
Degree of difficulty: Medium

Page: 7
Take-Away: 2
[QUESTION]
36. Those who buy goods and services for resale, as inputs to production of other goods or
services, or for use in the day-to-day operations of the organization are:
A. intermediaries.
B. ultimate consumers.
C. organizational customers.
D. utilitarian consumers.
E. countertraders.
Answer: C
Degree of difficulty: Medium
Page: 7
Take-Away: 2

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Chapter 01 The Marketing Management Process

[QUESTION]
37. A gap between a person’s actual and desired state on some physical or psychological
dimension is a(n):
A. unsatisfied need.
B. want state.
C. market inefficiency.
D. demand function.
E. intermediary.
Answer: A
Degree of difficulty: Easy

Page: 7
Take-Away: 4
[QUESTION]
38. Factors not created by marketers or other social forces, but flowing from basic biological and
psychological human makeup, are:
A. needs.
B. wants.
C. demands.
D. urges.
E. requirements.
Answer: A
Degree of difficulty: Easy
Page: 7
Take-Away: 4
[QUESTION]
39. When a non-profit organization, like a university, purchases copying paper for its
photocopying machines, what is it purchasing?
A. A consumer good.
B. A consumer service.
C. An industrial good.
D. An industrial service.
E. An emotional good.
Answer: C
Degree of difficulty: Easy
Page: 7
Take-Away: 1
[QUESTION]
40. For some brand loyal customers what does wearing Levi’s 501 jeans provide that other jeans
cannot?
A. Need fulfillment

B. Need creation
C. Need recognition

8

Test Bank, Chapter 1


Full file at />D. Want satisfaction
E. Want recognition
Answer: D
Degree of difficulty: Medium
Page: 7
Take-Away: 4
[QUESTION]
41. The desire to drink a Coke instead of orange juice is an example of a(n):
A. necessity.
B. need.
C. demand.
D. want.
E. requirement.
Answer: D
Degree of difficulty: Easy
Page: 7
Take-Away: 4
[QUESTION]
42. In addition to being provided with physical objects, people’s needs may be satisfied in a less
tangible form through:
A. differential forms.
B. products.

C. goods.
D. services.
E. product modifications.
Answer: D
Degree of difficulty: Medium
Page: 10
Take-Away: 4
[QUESTION]
43. When people buy products to satisfy their wants and needs, instead of buying the products
per se, they are buying:
A. performance features.
B. product attributes.
C. benefits.
D. physical attributes.
E. goods.
Answer: C
Degree of difficulty: Easy
Page: 10
Take-Away: 2
[QUESTION]

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Chapter 01 The Marketing Management Process
44. Studies have shown that, if their complaints were handled satisfactorily, ____ percent of
those who complain would do business with the same company again.
A. 30
B. 10
C. 50

D. 70
E. 90
Answer: C
Degree of difficulty: Easy
Page: 12
Take-Away: 3
[QUESTION]
45. When the market is sufficiently homogeneous, a company can practice marketing approaches
that are:
A. pre-emptive.
B. differentiated.
C. segmented.
D. situational.
E. undifferentiated.
Answer: E
Degree of difficulty: Medium
Page: 12
Take-Away: 5
[QUESTION]
46. “Individuals and organizations who are interested and willing to buy a particular product to
obtain benefits that will satisfy a specific need or want, and who have the resources to engage in
such a transaction” is the definition of a(n):
A. industrial buyer.
B. segment.
C. opportunity.
D. focus group.
E. market.
Answer: E
Degree of difficulty: Easy
Page: 12

Take-Away: 1
[QUESTION]
47. When the total market for a given product category is fragmented into several groups of
people having relatively homogeneous needs, wants, and sought after benefits, these groups are
termed:
A. market fragmentation.
B. a differentiated market.
C. a counter-market.

10

Test Bank, Chapter 1


Full file at />D. a market segment.
E. market homogenization.
Answer: D
Degree of difficulty: Medium
Page: 13
Take-Away: 5
[QUESTION]
48. When a company is attempting to determine what markets to target their product towards as
part of its strategic marketing planning activities, which of the following is it attempting to
define?
A. Why its competitors have not already exploited this niche.
B. What the best promotion vehicle would be for this market.
C. Which segments have to be targeted.
D. How to position the product.
E. What its distribution strategy would be.
Answer: C

Degree of difficulty: Hard
Page: 13
Take-Away: 5
[QUESTION]
49. Haier, the rapidly growing Chinese manufacturer of washing machines discussed in the text,
modifies its product designs and marketing programs to the needs of customers in Saudi Arabia.
The company is:
A. trying to provide a unique benefit to a segment of the washing machine market.
B. trying to provide a unique benefit to the overall market for washing machines.
C. production oriented.
D. trying to position its product as a me-too type of washing machine.
E. trying to build economies of scale.
Answer: A
Degree of difficulty: Hard
Page: 13
Take-Away: 2
[QUESTION]
50. What is the focus of marketing management?
A. Analysis
B. Coordination
C. Beneficial exchange
D. Distribution
E. Execution
Answer: C
Degree of difficulty: Easy
Page: 14
Take-Away: 1

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Chapter 01 The Marketing Management Process

[QUESTION]
51. “The process of analyzing, planning, implementing, coordinating, and controlling programs
involving the conception, pricing, promotion, and distribution of products, services, and ideas
designed to create and maintain beneficial exchanges with target markets for the purpose of
achieving organizational objectives” is a definition of:
A. marketing communications.
B. marketing management.
C. marketing strategy.
D. strategic management.
E. marketing tactics.
Answer: B
Degree of difficulty: Easy
Page: 14
Take-Away: 5
[QUESTION]
52. Analyzing the 4Cs is necessary to provide the foundation for a good strategic marketing plan.
Which of the following is NOT one among them?
A. Company
B. Context
C. Customers
D. Cost
E. Competitors
Answer: D
Degree of difficulty: Medium
Page: 14
Take-Away: 6
[QUESTION]

53. Which aspect of the marketing management process does environmental and competitor
analysis represent?
A. Marketing program components
B. Implementing and controlling marketing programs
C. Formulating strategic marketing programs
D. Market opportunity analysis
E. Strategic market communication
Answer: D
Degree of difficulty: Medium
Page: 15
Take-Away: 5
[QUESTION]
54. What type of strategy states the company’s mission and its strengths and policies for growth?
A. Business-level strategy
B. Functional strategy

12

Test Bank, Chapter 1


Full file at />C. Marketing strategy
D. Corporate strategy
E. Segmentation strategy
Answer: D
Degree of difficulty: Medium
Page: 15
Take-Away: 5
[QUESTION]
55. What type of decision is reflected in an organization’s business-level strategy?

A. Choosing suppliers
B. Picking an advertising slogan
C. Deciding how to compete in its business
D. Deciding which products to sell
E. Defining its overall purpose
Answer: C
Degree of difficulty: Medium
Page: 16
Take-Away: 6
[QUESTION]
56. When PepsiCo attempts to define which products, promotions, prices, and distribution
arrangements to include in its snacks food line, what type of strategy is it pursuing?
A. Marketing strategy
B. Functional-level strategy
C. Corporate strategy
D. Operational strategy
E. Market segmentation strategy
Answer: A
Degree of difficulty: Medium
Page: 16
Take-Away: 5
[QUESTION]
57. When a company is attempting to differentiate its products to distinguish them from
competitors’ products, in which aspect of strategic management planning is the company
engaged?
A. Market segmentation strategy
B. Distribution strategy
C. Targeting strategy
D. Pricing strategy
E. Positioning strategy

Answer: E
Degree of difficulty: Hard
Page: 17
Take-Away: 5

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Chapter 01 The Marketing Management Process

[QUESTION]
58. _____ is the combination of controllable marketing variables that a manager uses to carry out
a marketing strategy.
A. Advertising
B. Pricing strategy
C. Market segmentation
D. Publicity
E. Marketing mix
Answer: E
Degree of difficulty: Easy
Page: 18
Take-Away: 6
[QUESTION]
59. Advertising, personal selling, point-of-purchase displays, and publicity are related to which
element of the marketing mix?
A. Place
B. Product
C. Price
D. Promotion
E. Personnel

Answer: D
Degree of difficulty: Easy
Page: 19
Take-Away: 6
[QUESTION]
60. Quality, features, style, options, brand name, packaging, guarantees and warranties, and
service are related to which element of the marketing mix?
A. Place
B. Price
C. Product
D. Promotion
E. Personnel
Answer: C
Degree of difficulty: Easy
Page: 19
Take-Away: 6
[QUESTION]
61. When a buyer purchases a new Fiat Punto and the purchase price includes free parts and
labor on repairs that occur within the first three years or 36,000 miles, whichever comes first,
what aspect of the product does this component represent?
A. Return policy
B. Warranty

14

Test Bank, Chapter 1


Full file at />C. Sales promotion
D. Allowance

E. Spare parts availability
Answer: B
Degree of difficulty: Medium
Page: 19
Take-Away: 2
[QUESTION]
62. The primary advantage to direct distribution for a firm like Dell computers is:
A. more control over channel activities.
B. less hassle for the customer.
C. broader market coverage.
D. lower distribution costs.
E. less hassle for the firm.
Answer: A
Degree of difficulty: Hard
Page: 22
Take-Away: 6
[QUESTION]
63. Dell Computer’s reliance on the Internet to attract customers and process orders together with
a flexible manufacturing system that produces computers to order and minimizes finished
inventories, and Canon’s reliance on its own factories, salesforce, and distribution facilities to
produce and market its copiers and printers are examples of a:
A. vertically integrated distribution system.
B. horizontally integrated distribution system.
C. wheel-and-spoke distribution system.
D. cohesive distribution system.
E. pyramid selling system.
Answer: A
Degree of difficulty: Hard
Page: 22
Take-Away: 6

[QUESTION]
64. Groups of institutions, or middlemen, that distribute goods are known as:
A. pyramid distribution systems.
B. cohesive distribution system.
C. horizontal distribution systems.
D. wheel-and-spoke distribution systems.
E. marketing channels.
Answer: E
Degree of difficulty: Medium
Page: 22
Take-Away: 6

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Chapter 01 The Marketing Management Process

[QUESTION]
65. A manufacturer’s representative for General Electric is an example of which type of
“middleman?”
A. Retailers
B. Agent middlemen
C. Merchant wholesalers
D. Facilitating agents
E. Commissioned agents
Answer: B
Degree of difficulty: Medium
Page: 22
Take-Away: 6
[QUESTION]

66. Those who sell goods and services directly to final consumers for their personal, nonbusiness
use are:
A. retailers.
B. agent middlemen.
C. merchant wholesalers.
D. facilitating agents.
E. commissioned agents.
Answer: A
Degree of difficulty: Easy
Page: 22
Take-Away: 6
[QUESTION]
67. In developed countries, approximately what percentage of the retail price of consumer
products consists of the costs of marketing and distribution of these products?
A. 10 percent
B. 30 percent
C. 50 percent
D. 70 percent
E. 90 percent
Answer: C
Degree of difficulty: Medium
Page: 23
Take-Away: 5
[QUESTION]
68. Because manufacturers and their agents can perform exchange activities at a lower cost than
individual consumers, we say that they have achieved:
A. price efficiency.
B. functional efficiency.
C. transaction efficiency.

16

Test Bank, Chapter 1


Full file at />D. vertical integration.
E. horizontal integration.
Answer: B
Degree of difficulty: Hard
Page: 23
Take-Away: 1
[QUESTION]
69. When a consumer purchases a product at a convenient location and when she is ready to use
the product, we say that the product has achieved _________ utility and _________ utility,
respectively.
A. time; place
B. place; time
C. possession; place
D. possession; functional
E. time; possession
Answer: B
Degree of difficulty: Easy
Page: 23
Take-Away: 3
[QUESTION]
70. What factor has changed in the past 10 years that has made the customer service function far
more important to the firm’s financial success?
A. global population levels.
B. global competition levels.
C. database marketing.

D. wireless communications.
E. market fragmentation.
Answer: B
Degree of difficulty: Hard
Page: 26
Take-Away: 3
Essay Questions
[QUESTION]
71. How many transactions must occur for three manufacturers to sell to each of three consumers
(a) without and (b) with a distributor? What does this indicate about the efficiency introduced by
“middlemen”?
Answer:
Without a distributor, each of the three manufacturers must contact each of the three consumers
separately, for a total of nine transactions. With a distributor, each of the three manufacturers
must contact the distributor once, and the distributor must contact each consumer once, for a
total of six transactions. From the standpoint of total system transactions, the distributor based
system is one-third more efficient.

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Chapter 01 The Marketing Management Process
Degree of difficulty: Medium
Page: 6
Take-Away: 1
[QUESTION]
72. What conditions must exist before an exchange occurs?
Answer:
There must be (1) at least two parties, both of whom: (2) offer something of value, (3) are aware
of the other’s existence, (4) are free to accept or reject the other’s offer, and (5) are willing to

negotiate.
Degree of difficulty: Easy
Page: 6
Take-Away: 1
[QUESTION]
73. Distinguish between an ultimate consumer and an organizational customer. Provide an
example of each.
Answer:
An example of the former is when a customer buys a shirt; the latter is when a store’s
management buys racks of clothing.
Degree of difficulty: Medium
Page: 7
Take-Away: 5
[QUESTION]
74. Discuss the value of long-term customer relationships.
Answer:
As global markets have become increasingly competitive and volatile, many
firms have turned their attention to building a continuing long-term
relationship between the organization and the customer as the ultimate
objective of a successful marketing strategy. They are taking action to
increase lifetime customer value —the present value of a stream of revenue
that can be produced by a customer over time. For an automobile
manufacturer, for instance, the lifetime value of a first-time car buyer who
can be kept satisfied and loyal to the manufacturer—buying all future new
cars from the same company—is well over a million dollars.
Degree of difficulty: Medium
Page: 12
Take-Away: 3
[QUESTION]
75. Discuss brand equity.

Answer:
The assets—including customers’ perceptions of a product’s benefits and
value, their positive past experiences, and their loyalty over time—linked to a
brand’s name and symbol constitute the brand’s equity. Brand equity reflects

18

Test Bank, Chapter 1


Full file at />the value of the brand name and logo as promotional tools for attracting
future buyers and building market share and profitability. A brand’s value to
the company depends on how much value customers think the brand
provides for them; value creation cuts both ways.
Degree of difficulty: Medium
Page: 12
Take-Away: 6
[QUESTION]
76. What are the important questions which a marketing manager must ask in order to define a
target market?
Answer:
Questions such as: “Which customer needs or wants are not being well-satisfied by our
competitors?,”, “How do potential segments differ by important demographic dimensions, in
benefits desired, and in choice criteria?”, “Which segments should we target and why have we
chosen these segments?”, and “How will we position our product so that we can differentiate it
from our competitors’ offerings?” are typical questions that have to be answered in order to
define a target market.
Degree of difficulty: Medium
Page: 13
Take-Away: 5

[QUESTION]
77. What elements should be analyzed for a good strategic marketing plan?
Answer:
The analysis necessary to provide the foundation for a good strategic
marketing plan should focus on four elements of the overall environment
that may influence a given strategy’s appropriateness and ultimate success:
(1) the company’s internal resources, capabilities, and strategies; (2) the
environmental context —such as broad social, economic, and technology
trends—in which the firm will compete; (3) the needs, wants, and
characteristics of current and potential customers; and (4) the relative
strengths and weaknesses of competitors and trends in the competitive
environment. Marketers refer to these elements as the 4Cs.
Degree of difficulty: Hard
Page: 15-16
Take-Away: 5
[QUESTION]
78. Compare and contrast the three levels of organizational strategy.
Answer:
Corporate strategy reflects the company’s mission and provides direction for decisions about
what business it should pursue, how it should allocate its available resources, and its growth
policies. Business-level strategy addresses how the business intends to compete in its industry.
Functional strategy, such as marketing, involves decisions about implementation of specific
tactics to reach business-level goals (e.g., what products to offer a given market segment).

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Chapter 01 The Marketing Management Process
Degree of difficulty: Hard
Page: 15-16

Take-Away: 6
[QUESTION]
79. List and describe the four types of marketing intermediaries.
Answer:
1. Merchant wholesalers take title to the goods they sell and sell primarily to other resellers.
2. Agent middlemen also sell to other resellers and industrial or commercial
customers but they do not take title to the goods they sell.
3. Retailers sell to ultimate consumers.
4. Facilitating agents, like advertising agencies and railroads, provide specialized marketing
functions.
Degree of difficulty: Medium
Page: 22
Take-Away: 5
[QUESTION]
80. Describe and provide an example of each of the three types of product utility.
Answer:
Lunch at a fast-food restaurant is a combination of the (1) lunch (possession utility), (2) being
conveniently located (place utility), (3) when you are ready for lunch (time utility).
Degree of difficulty: Medium
Page: 23
Take-Away: 5

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Test Bank, Chapter 1