Chapter 1 Quiz
1. The 4 P's of marketing consist of: Product, place, promotion, and price. Of these four
components, which one primarily deals with communication value?
A.) Place
B.) Price
C.) Promotion
D.) Product
2. The group of firms that make and deliver a given set of goods and services is known
as:
A.) A Marketing plan
B.) An exchange
C.) Supply Chain
D.) Customer Relationship Management
3. All show the importance of marketing, except:
A.) Can be entrepreneurial
B.) Expands global presence
C.) Illiterates creative artwork
D.) Enriches Society
4. The third set in the supply chain diagram is:
A.) Retailer
B.) Raw material
C.) Consumer
D.) Manufacturer
5. __________________ are ideas that you can physically touch.
A.) Services
B.) Goods
C.) Ideas
D.) Prices
6. Which is false about marketing?
A.) Marketing creates value
B.) Marketing can only be done by companies
C.) Marketing entails an exchange
D.) Marketing should satisfy customer needs
7. Which of the following is NOT a successful way to achieve marketing orientation?
A.) Obtain information about customers, competitors, and markets
B.) Examine the information from a total business perspective
C.) Determine how to deliver superior customer value
D.) Learning about the customers views on sports
8. _______________ is communication by a marketer that informs, persuades, and
reminds potential buyers about a product or service to influence their opinions or elicit a
response.
A.) Advertising
B.) Supply Chain Management
C.) Promotion
D.) Target Marketing
9. All of the following are a part of the core aspects of marketing except:
A.) Marketing helps create value
B.) Marketing can be performed by both individuals and organizations
C.) Marketing is only used by major corporations
D.) Marketing affects various stakeholders
10. What is “price”?
A.) Money
B.) Time
C.) Energy
D.) All of the above
11. Which of the following is a marketing channel member?
A.) Retailer
B.) Manufacturer
C.) Wholesaler
D.) Supplier
E.) All of the above
12. Marketing does NOT require:
A.) Product
B.) Price
C.) Place
D.) Permission
E.) Promotion
13. What is NOT included in the Importance of Marketing?
A.) Can be entrepreneurial
B.) Expands global presence
C.) Enriches society
D.) That it has a set way of how to do it
E.) Pervasive across channel members
14. What are intangible customer benefits that are produced by people or machines and
cannot be separated from the producer?
A.) Exchange
B.) Services
C.) Goods
D.) Manufacturing
15. What is an example of co-creating?
A.) McDonald’s putting up a billboard on the highway
B.) Chipotle displaying quotes from authors on their paper bags
C.) Texas Rangers allowing customers to be able to design their hats
D.) Ads on the side of a website
16. Most successful firms today are in what era?
A.) Production-Oriented Era
B.) Sales-Oriented Era
C.) Market-Oriented Era
D.) Value-Based Marketing Era
17. All of these are part of the evolution of marketing EXCEPT:
A.) Production
B.) Investment
C.) Sales
D.) Marketing
E.) Value-Based Marketing
18. The process by which businesses sell to consumers is known as:
A.) B2B marketing
B.) B2C marketing
C.) C2C marketing
D.) None of the above
19. Which is NOT a type of product?
A.) Goods
B.) Services
C.) Ideas
D.) Prices
20. The trade of things of value between the buyer and the seller so that each is better off
as a result is known as an (a):
A.) Exchange
B.) Marketing
C.) Value
D.) Promotion
Answer Key
1. C
2. C
3. C
4. A
5. B
6. B
7. D
8. C
9. C
10. D
11. E
12. D
13. D
14. B
15. C
16. D
17. C
18. B
19. D
20.