, Chapter 01
Marketing's Value to Consumers, Firms, and Society
True / False Questions
1. Marketing is basically selling and advertising.
True False
2. Marketing, in the literal sense, means "selling" or "advertising."
True False
3. Marketing means "promotion and selling."
True False
4. Actually making goods or performing services is called marketing.
True False
5. Estimating what price consumers are willing to pay for a product and if the firm can
make a profit selling at that price, is an example of a production activity.
True False
6. 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
7. Marketing plays an essential role in creating customer satisfaction.
True False
1-1
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
,8. Customer satisfaction is the extent to which a firm fulfills a consumer's needs, desires,
and expectations.
True False
9. If a firm produces the right goods or services, marketing has little role to play in
creating customer satisfaction.
True False
10. It is estimated that marketing costs about 50 percent of each consumer's dollar.
True False
11. In advanced economies, marketing costs only about 10 percent of each consumer's
dollar.
True False
12. Marketing encourages the development and spread of new ideas, goods, and
services.
True False
13. According to the text, marketing means "selling" or "advertising."
True False
14. Marketing discourages the development and spread of new ideas, goods, and
services.
True False
15. Marketing is both a set of activities performed by organizations and a social process.
True False
16. Marketing can be viewed as a set of activities performed by organizations, but not as
a social process.
True False
17. Marketing can be viewed as a social process, but not as a set of activities performed
by organizations.
True False
1-2
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
, 18. The micro view of marketing sees it as 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
19. 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
20. The micro view of marketing is mainly concerned with the activities performed by
organizations.
True False
21. From a micro view, marketing activities are performed only by profit-oriented
organizations.
True False
22. Marketing only applies to profit organizations.
True False
23. Marketing only applies to for-profit organizations.
True False
24. Marketing activities should be of no interest to a nonprofit organization.
True False
25. Marketing activities should begin with potential customer needs, not with the
production process.
True False
26. Production, not marketing, should determine what products are to be made.
True False
27. Marketing should begin with the production process.
True False
1-3
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Marketing's Value to Consumers, Firms, and Society
True / False Questions
1. Marketing is basically selling and advertising.
True False
2. Marketing, in the literal sense, means "selling" or "advertising."
True False
3. Marketing means "promotion and selling."
True False
4. Actually making goods or performing services is called marketing.
True False
5. Estimating what price consumers are willing to pay for a product and if the firm can
make a profit selling at that price, is an example of a production activity.
True False
6. 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
7. Marketing plays an essential role in creating customer satisfaction.
True False
1-1
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
,8. Customer satisfaction is the extent to which a firm fulfills a consumer's needs, desires,
and expectations.
True False
9. If a firm produces the right goods or services, marketing has little role to play in
creating customer satisfaction.
True False
10. It is estimated that marketing costs about 50 percent of each consumer's dollar.
True False
11. In advanced economies, marketing costs only about 10 percent of each consumer's
dollar.
True False
12. Marketing encourages the development and spread of new ideas, goods, and
services.
True False
13. According to the text, marketing means "selling" or "advertising."
True False
14. Marketing discourages the development and spread of new ideas, goods, and
services.
True False
15. Marketing is both a set of activities performed by organizations and a social process.
True False
16. Marketing can be viewed as a set of activities performed by organizations, but not as
a social process.
True False
17. Marketing can be viewed as a social process, but not as a set of activities performed
by organizations.
True False
1-2
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
, 18. The micro view of marketing sees it as 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
19. 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
20. The micro view of marketing is mainly concerned with the activities performed by
organizations.
True False
21. From a micro view, marketing activities are performed only by profit-oriented
organizations.
True False
22. Marketing only applies to profit organizations.
True False
23. Marketing only applies to for-profit organizations.
True False
24. Marketing activities should be of no interest to a nonprofit organization.
True False
25. Marketing activities should begin with potential customer needs, not with the
production process.
True False
26. Production, not marketing, should determine what products are to be made.
True False
27. Marketing should begin with the production process.
True False
1-3
© 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
