Business A Changing World Canadian 6th Edition By Ferrell – Test Bank

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
45) James Johnson has developed a new product, found a store willing to sell it, and has agreed to help promote the product’s sale. He is engaging in A) exchanging.
B) retailing.
C) researching.
D) marketing.
E) discounting.
Answer: D
46) Marketing creates value by:
A) manipulating people into buying products they don’t want.
B) informing people of new products.
C) spending large amounts on advertising.
D) increasing the price of goods.
E) helping people obtain what they need and want.
Answer: E
47) Marketing is not just selling, it is: A) pushing what is produced.
B) advertising.
C) targeting a market.
D) a systematic approach to satisfying customers.
E) manipulating customers.
Answer: D
48) When a customer hands the cashier $1 and receives a loaf of bread, which of the following has occurred?
A) Facilitating
B) Discounting
C) Exchange
D) Advertising
E) Utility
Answer: C
49) Marketing is the facilitation of exchanges through:
A) creating, pricing, promoting, and distributing goods.
B) product advertising and promotion.
C) multi-segment marketing.
D) market segmentation.
E) place and form utility.
Answer: A
50) The exchange process is:
A) at the heart of all business.
B) value added to products.
C) satisfaction of the seller’s needs.
D) the price of a product.
E) the source of credit.
Answer: A
51) An exchange is:
A) made within 24 hours.
B) always made with cash.
C) seldom satisfactory to all parties involved.
D) giving up something in return for something else.
E) always made with credit.
Answer: D
52) What most consumers want is not a product, but: A) low prices.
B) prestige.
C) a way to get a job done, solve a problem, or gain some enjoyment.
D) a service.
E) an idea.
Answer: C
53) Among the marketing functions are:
A) production, distribution, and consumption.
B) recruiting, promoting, and terminating employees.
C) financing, market researching, buying, and selling.
D) comparing performance to standards and correcting performance.
E) directing, controlling, and planning.
Answer: C
54) Which of the following must marketers spend more effort understanding, in order to determine what products to market?
A) Buying B) Financing C) Grading D) Storing E) Selling
Answer: A
55) Richard has acquired a supply of canned fruits and vegetables. He does not yet have a buyer for them, but he’s using promotion and other activities to find a buyer. He is performing the marketing function of:
A) grading.
B) marketing research.
C) selling.
D) purchasing.
E) market segmentation.
Answer: C
56) When an organization hauls canned goods from the manufacturer to grocery stores, it is involved with which marketing function?
A) Selling
B) Storing
C) Transporting
D) Buying
E) Grading
Answer: C
57) When a grocery store maintains refrigerated units to hold ice cream until customers are ready to buy it, the store is engaged in the marketing function of:
A) selling.
B) storing.
C) marketing research.
D) transporting.
E) risk taking.
Answer: B
58) When a worker in the meat department of a grocery store designates a steak with little or no fat as an “AA” and another steak with more fat as a “B,” the worker is participating in the marketing function of:
A) marking. B) grading. C) pricing. D) ranking. E) trading.
Answer: B
59) When a television manufacturer provides stores with credit to get the televisions into the stores for sale, the manufacturer is involved in the marketing function of:
A) financing.
B) buying.
C) discounting.
D) banking.
E) profiteering.
Answer: A
60) XYZ Inc. is surveying customers as to what kinds of services they would like the company to add. It is involved in the marketing function of:
A) buying.
B) marketing research.
C) risk taking.
D) storing.
E) financing.
Answer: B