COMPREHENSIVE Test Bank for
Essentials of Marketing, 18th Edition by
Joseph Cannon
COMPLETE Chapter 1-19 with Bonus 1&2| A+ GRADED
ALL ANSWERS ARE AT THE END OF EACH CHAPTER
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, Chapter 1: Marketing’s Value to Consumers, Firms, and Society
1) Marketing is basically selling and advertising.
⊚ true
⊚ false
2) Making goods or performing services is called production.
⊚ true
⊚ false
3) Estimating what price consumers are willing to pay for a product and assessing whether the firm can make a
profit selling at that price is an example of a production activity.
⊚ true
⊚ false
4) Marketing can provide needed direction for production and help make sure that the right goods and services
find their way to interested consumers.
⊚ true
⊚ false
5) Marketing plays an essential role in creating customer satisfaction.
⊚ true
⊚ false
6) If a firm produces the right goods or services, marketing has little role to play in creating customer
satisfaction.
⊚ true
⊚ false
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, 7) In advanced economies, marketing costs about 10 percent of each consumer‘s dollar.
⊚ true
⊚ false
8) Marketing encourages the development and spread of new ideas, goods, and services.
⊚ true
⊚ false
9) Marketing is both a set of activities performed by organizations and a social process.
⊚ true
⊚ false
10) Marketing is the performance of activities that seek to accomplish an organization‘s objectives by
anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer
to customer or client.
⊚ true
⊚ false
11) The micro view of marketing is mainly concerned with the activities performed by organizations.
⊚ true
⊚ false
12) Marketing only applies to for-profit organizations.
⊚ true
⊚ false
13) Marketing activities should begin with potential customer needs, not with the production process.
TB
⊚ true
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, ⊚ false
14) Production, not marketing, should determine what products are to be made.
⊚ true
⊚ false
15) Marketing does not occur unless there are two or more parties who want to exchange something for
something else.
⊚ true
⊚ false
16) In a pure subsistence economy—when each family unit produces everything it consumes—no marketing is
involved.
⊚ true
⊚ false
17) Marketing is concerned with individual transactions rather than with building ongoing relationships with
customers, because that is the job of the public relations department.
⊚ true
⊚ false
18) Macro-marketing emphasizes how the whole marketing system works.
⊚ true
⊚ false
19) Macro-marketing is a social process that direct an economy‘s flow of goods and services from producers to
consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.
⊚ true
TB
⊚ false
Ac
Page | 4
er
Essentials of Marketing, 18th Edition by
Joseph Cannon
COMPLETE Chapter 1-19 with Bonus 1&2| A+ GRADED
ALL ANSWERS ARE AT THE END OF EACH CHAPTER
TB
Ac
Page | 1
er
, Chapter 1: Marketing’s Value to Consumers, Firms, and Society
1) Marketing is basically selling and advertising.
⊚ true
⊚ false
2) Making goods or performing services is called production.
⊚ true
⊚ false
3) Estimating what price consumers are willing to pay for a product and assessing whether the firm can make a
profit selling at that price is an example of a production activity.
⊚ true
⊚ false
4) Marketing can provide needed direction for production and help make sure that the right goods and services
find their way to interested consumers.
⊚ true
⊚ false
5) Marketing plays an essential role in creating customer satisfaction.
⊚ true
⊚ false
6) If a firm produces the right goods or services, marketing has little role to play in creating customer
satisfaction.
⊚ true
⊚ false
TB
Ac
Page | 2
er
, 7) In advanced economies, marketing costs about 10 percent of each consumer‘s dollar.
⊚ true
⊚ false
8) Marketing encourages the development and spread of new ideas, goods, and services.
⊚ true
⊚ false
9) Marketing is both a set of activities performed by organizations and a social process.
⊚ true
⊚ false
10) Marketing is the performance of activities that seek to accomplish an organization‘s objectives by
anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer
to customer or client.
⊚ true
⊚ false
11) The micro view of marketing is mainly concerned with the activities performed by organizations.
⊚ true
⊚ false
12) Marketing only applies to for-profit organizations.
⊚ true
⊚ false
13) Marketing activities should begin with potential customer needs, not with the production process.
TB
⊚ true
Ac
Page | 3
er
, ⊚ false
14) Production, not marketing, should determine what products are to be made.
⊚ true
⊚ false
15) Marketing does not occur unless there are two or more parties who want to exchange something for
something else.
⊚ true
⊚ false
16) In a pure subsistence economy—when each family unit produces everything it consumes—no marketing is
involved.
⊚ true
⊚ false
17) Marketing is concerned with individual transactions rather than with building ongoing relationships with
customers, because that is the job of the public relations department.
⊚ true
⊚ false
18) Macro-marketing emphasizes how the whole marketing system works.
⊚ true
⊚ false
19) Macro-marketing is a social process that direct an economy‘s flow of goods and services from producers to
consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.
⊚ true
TB
⊚ false
Ac
Page | 4
er
