,Chapter 1. Marketing in Today’s Business Milieu
Student name:
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A commonly held misconception about marketing is that it is all about advertising
and selling.
⊚ true
⊚ false
2) Marketing is relevant only to people in the organization who work directly in the
marketing department.
⊚ true
⊚ false
3) The American Marketing Association defines marketing as “the activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.”
⊚ true
⊚ false
4) Peter Drucker stated that since it is the customer who defines value, the business
enterprise has only two business functions: marketing and innovation.
⊚ true
⊚ false
5) Sustainability refers to business practices that reduce the overall cost of a product.
⊚ true
⊚ false
6) Firms focused on a production orientation mentality likely will have great
difficulty competing successfully for customers.
⊚ true
⊚ false
7) When Henry Ford said, “People can have the Model T in any color—so long that it’s
black,” he was reflecting a sales orientation.
⊚ true
⊚ false
,Chapter 1. Marketing in Today’s Business Milieu
8) Don Peppers and Martha Rogers popularized the term one-to-one marketing. Some
firms come close to one-to-one marketing by combining flexible manufacturing with
flexible marketing to enhance customer choices.
⊚ true
⊚ false
9) Fred Wiersema’s book The New Market Leaders states that marketers will continue to
have more power than customers in both B2B and B2C markets.
⊚ true
⊚ false
10) In the current business environment, firms have learned to be open about products and
services with consumers who have endless sources of information, including social
media platforms, blogs, and independent websites.
⊚ true
⊚ false
11) Customer orientation, a component of market orientation, places the customer at the core
of all aspects of the enterprise.
⊚ true
⊚ false
12) Marketing approaches should seek ways to decrease or discredit the vast amount
of information accessible to consumers.
⊚ true
⊚ false
13) Millennial consumers, while much more receptive to digital marketing and e-commerce, tend
to highly value in-person relationships with marketers like State Farm Insurance in much the
same way as prior generations.
⊚ true
⊚ false
14) In contrast to Marketing (Big M), marketing (little m) serves the firm and its stakeholders
at a functional or operational level.
⊚ true
⊚ false
, Chapter 1. Marketing in Today’s Business Milieu
15) Marketing (Big M) refers to the strategic, long-term, firm-level commitment to investing
in marketing.
⊚ true
⊚ false
16) A customer orientation means ensuring the customer is the central core of all aspects of
the business.
⊚ true
⊚ false
17) Strategic marketing refers to the idea that firms should direct energy and resources into
establishing a learning relationship with each customer and connect the learned
knowledge with the firm’s production and service capabilities.
⊚ true
⊚ false
18) Practicing marketers tend to pitch marketing internally as an expense, not an investment
in the future success of the organization.
⊚ true
⊚ false
19) If aspects of marketing can’t be measured, they can still be managed.
⊚ true
⊚ false
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers
the question.
20) Of all the business fields, is generally the most visible to people outside
the organization.
A) financial management
B) accounting
C) marketing
D) information technology
E) operations management
Student name:
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A commonly held misconception about marketing is that it is all about advertising
and selling.
⊚ true
⊚ false
2) Marketing is relevant only to people in the organization who work directly in the
marketing department.
⊚ true
⊚ false
3) The American Marketing Association defines marketing as “the activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.”
⊚ true
⊚ false
4) Peter Drucker stated that since it is the customer who defines value, the business
enterprise has only two business functions: marketing and innovation.
⊚ true
⊚ false
5) Sustainability refers to business practices that reduce the overall cost of a product.
⊚ true
⊚ false
6) Firms focused on a production orientation mentality likely will have great
difficulty competing successfully for customers.
⊚ true
⊚ false
7) When Henry Ford said, “People can have the Model T in any color—so long that it’s
black,” he was reflecting a sales orientation.
⊚ true
⊚ false
,Chapter 1. Marketing in Today’s Business Milieu
8) Don Peppers and Martha Rogers popularized the term one-to-one marketing. Some
firms come close to one-to-one marketing by combining flexible manufacturing with
flexible marketing to enhance customer choices.
⊚ true
⊚ false
9) Fred Wiersema’s book The New Market Leaders states that marketers will continue to
have more power than customers in both B2B and B2C markets.
⊚ true
⊚ false
10) In the current business environment, firms have learned to be open about products and
services with consumers who have endless sources of information, including social
media platforms, blogs, and independent websites.
⊚ true
⊚ false
11) Customer orientation, a component of market orientation, places the customer at the core
of all aspects of the enterprise.
⊚ true
⊚ false
12) Marketing approaches should seek ways to decrease or discredit the vast amount
of information accessible to consumers.
⊚ true
⊚ false
13) Millennial consumers, while much more receptive to digital marketing and e-commerce, tend
to highly value in-person relationships with marketers like State Farm Insurance in much the
same way as prior generations.
⊚ true
⊚ false
14) In contrast to Marketing (Big M), marketing (little m) serves the firm and its stakeholders
at a functional or operational level.
⊚ true
⊚ false
, Chapter 1. Marketing in Today’s Business Milieu
15) Marketing (Big M) refers to the strategic, long-term, firm-level commitment to investing
in marketing.
⊚ true
⊚ false
16) A customer orientation means ensuring the customer is the central core of all aspects of
the business.
⊚ true
⊚ false
17) Strategic marketing refers to the idea that firms should direct energy and resources into
establishing a learning relationship with each customer and connect the learned
knowledge with the firm’s production and service capabilities.
⊚ true
⊚ false
18) Practicing marketers tend to pitch marketing internally as an expense, not an investment
in the future success of the organization.
⊚ true
⊚ false
19) If aspects of marketing can’t be measured, they can still be managed.
⊚ true
⊚ false
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers
the question.
20) Of all the business fields, is generally the most visible to people outside
the organization.
A) financial management
B) accounting
C) marketing
D) information technology
E) operations management
