Test Bank for Marketing, 21st Edition by William M. Pride

MEDEXCELLENCE



Answers Included
Chapter 01 21e Pride All Chapters

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




SE
benefits to customers.
True




EC
R
False

3. Marketing costs consume about one-quarter of a buyer's dollar.




EVN
True
False


ILE
4. The broadest and simplest definition of marketing states that it is the development and efficient distribution of
products for consumer segments.
HL
True
False
CE
5. The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs
XAC

while achieving the overall goals of the organization.
True
False
EM



6. For a business organization to remain healthy and to survive, it must sell products and make profits.
EDA




True
False

7. The outcomes of a marketer's decisions and actions may be affected by the variables in the marketing
RE




environment.
True
MD




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




1

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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




SE
13. Promotion can help sustain interest in established products that have long been available.
True




EC
R
False




EVN
14. The marketing concept stresses that a business organization can best achieve its goals by providing customer
satisfaction through coordinated activities.
True
False
ILE
15. Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable
HL
marketing practices.
True
CE
False
XAC

16. A target market is a specific group of customers on whom an organization focuses its marketing efforts.
True
EM


False

17. To satisfy customers' objectives as well as its own, a company must coordinate all its activities.
EDA




True
False
RE




18. The impact of environmental forces on value can be extensive as market changes can easily influence how
stakeholders perceive certain products.
MD




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




2

, MEDEXCELLENCE



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

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




SE
False

24. Marketing consists primarily of selling and advertising.




EC
R
True
False




EVN
25. Basic and extended warranties can reduce risk, a major customer cost.
True
False

26. Products can be goods, services, or ideas.
ILE
HL
True
CE
False

27. Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.
XAC

True
False
EM



28. The marketing concept directly affects marketing activities but should have a negligible impact on other
organizational activities.
EDA




True
False
RE




29. The market concept stresses that an organization can best achieve its objectives by being customer-oriented.
True
MD




False

30. Value = customer costs − customer benefits.
True
False

31. The process people use to determine the value of a product is not highly scientific.
True
False




3

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32. The market concept developed out of a sequence of three eras: the production orientation, the marketing
orientation, and the industrial orientation.
True
False

33. Relationship marketing focuses on satisfying customers to generate the most profit.
True
False

34. There are four conditions that must be met before an exchange can take place. Once these conditions are met,
an exchange will always take place.
True




SE
False




EC
R
35. To reduce customer costs and thereby increase their sense of value, companies can increase product
availability.




EVN
True
False

36. When assessing value, customers consider nonmonetary costs such as time and effort.
True
False
ILE
HL
37. The marketing environment is a set of static, unchanging surroundings.
CE
True
XAC

False

38. It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that
EM


stay colder longer.
True
EDA




False

39. Achievement of the firm's overall goals is part of the marketing concept.
True
RE




False

40. Gloria is a pianist who wants to become a professional. Whenever she has a performance, she places a flyer in
MD




the local community center and encourages her friends to tell others about the performance. Gloria is engaging
in marketing activities.
True
False




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