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Test Bank for Marketing, 21st Edition by William M. Pride, O. C. Ferrell A+
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Created By: A SolutionTest Bank for Marketing, 21st Edition by William M.
Pride, O. C. Ferrell A+
Chapter 01 21e Pride
Indicate whether the statement is true or false.
1. During the market orientation, businesspeople realized that products, which by this
time could be made relatively efficiently, would have to be promoted through much personal
selling and advertising.
True
False
2. Services are provided by applying human and mechanical efforts to people or objects
to provide intangible benefits to customers.
True
False
3. Marketing costs consume about one-quarter of a buyer's dollar.
True
False
4. The broadest and simplest definition of marketing states that it is the development and
efficient distribution of products for consumer segments.
True
False
5. The marketing concept is a philosophy that a business organization should employ to
satisfy customers' needs while achieving the overall goals of the organization.
True
False
6. For a business organization to remain healthy and to survive, it must sell products and
make profits.
True
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False
7. The outcomes of a marketer's decisions and actions may be affected by the variables
in the marketing environment.
True
False
8. The reason the marketing concept is named this way is that it pertains solely to
marketing.
True
False
9. Customers are interested in a product's price because they are concerned about the
value obtained in an exchange.
True
False
10. Marketing costs consume about one-half of a buyer's dollar.
True
False
11. Organizations have to define their products as what they make or produce.
True
False
12. Customers are the focal point of all marketing activities.
True
False
13. Promotion can help sustain interest in established products that have long been
available.
True
False
14. The marketing concept stresses that a business organization can best achieve its goals
by providing customer satisfaction through coordinated activities.
True
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False
15. Knowing about marketing can help you evaluate the types of corrective measures
needed to stop questionable marketing practices.
True
False
16. A target market is a specific group of customers on whom an organization focuses its
marketing efforts.
True
False
17. To satisfy customers' objectives as well as its own, a company must coordinate all its
activities.
True
False
18. The impact of environmental forces on value can be extensive as market changes can
easily influence how stakeholders perceive certain products.
True
False
19. Changes in the marketing environment always hurt marketing efforts.
True
False
20. The marketing mix consists of three major variables: product, price, and distribution.
True
False
21. The ability to identify individual customers allows marketers to shift their focus from
increasing their share of an individual customer’s purchases to targeting groups of similar
customers.
True
False
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22. The marketing concept is a management philosophy, not a second definition of
marketing.
True
False
23. The actual physical production of goods is a marketing activity.
True
False
24. Marketing consists primarily of selling and advertising.
True
False
25. Basic and extended warranties can reduce risk, a major customer cost.
True
False
26. Products can be goods, services, or ideas.
True
False
27. Profit, even at the expense of customers' satisfaction, is the major thrust of the
marketing concept.
True
False
28. The marketing concept directly affects marketing activities but should have a
negligible impact on other organizational activities.
True
False
29. The market concept stresses that an organization can best achieve its objectives by
being customer-oriented.
True
False
30. Value = customer costs − customer benefits.
True
False
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