Test Bank - Essentials of Marketing, 2026 Release Cannon ( Answers Included )

Chap 01 2026 Release - Cannon
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Marketing is basically selling and advertising.
1) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Define Marketing
Source : Chapter 01 Test Bank > TB TF Qu. 01-01 Marketing is basically selling and...



2) Making goods or performing services is called production.
2) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Production
Source : Chapter 01 Test Bank > TB TF Qu. 01-02 Making goods or performing services is called...




1

,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.
3) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Define Marketing
Source : Chapter 01 Test Bank > TB TF Qu. 01-03 Estimating what price consumers are willing...



4) Marketing can provide needed direction for production and help make sure that the right
goods and services find their way to interested consumers.
4) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Define Marketing
Source : Chapter 01 Test Bank > TB TF Qu. 01-04 Marketing can provide needed direction for production...




2

,5) Marketing plays an essential role in creating customer satisfaction.
5) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Define Marketing
Source : Chapter 01 Test Bank > TB TF Qu. 01-05 Marketing plays an essential role in creating...



6) If a firm produces the right goods or services, marketing has little role to play in creating
customer satisfaction.
6) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Define Marketing
Source : Chapter 01 Test Bank > TB TF Qu. 01-06 If a firm produces the right goods or services...




3

, 7) In advanced economies, marketing costs about half of each consumer dollar.
7) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Evergreen Release : Updated 2026
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Marketing Costs
Source : Chapter 01 Test Bank > TB TF Qu. 01-07 In advanced economies, marketing costs about...



8) Marketing encourages the development and spread of new ideas, goods, and services.
8) ______
⊚ true
⊚ false

Question Details
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Learning Objective : 01-01 Know what marketing is and why you should learn about it.
Topic : Innovation
Source : Chapter 01 Test Bank > TB TF Qu. 01-08 Marketing encourages the development and spread...




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