TEST BANK
ESSENTIALS OF MARKETING: A MARKETING
STRATEGY PLANNING APPROACH
Page | 1
, Chapter 1
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
Page | 2
,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
Page | 3
,13) Marketing Activities Should Begin With Potential Customer Needs, Not With The Production Process.
⊚ True
⊚ 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
Page | 4
,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
⊚ False
20) Macro-Marketing Is Concerned With Examining The Relationship Of The Entire
Production And Distribution System.
⊚ True
⊚ False
21) An Effective Macro-Marketing System Matches Heterogeneous Supply With Heterogeneous Demand.
⊚ True
⊚ False
22) Jeraldo Is A Marketing Manager In A Consumer Products Company. He Is Concerned With Cost
Effective Packaging That Attracts Customers And Can Be Easily Recycled. Jeraldo‘S Concerns Are
Examples Of Macro- Marketing.
⊚ True
⊚ False
23) Effective Marketing In An Advanced Economy Is Difficult Because Producers And Consumers Are
Often Separated In Several Ways.
⊚ True
⊚ False
24) The Universal Functions Of Marketing Include Transporting And Storing.
⊚ True
⊚ False
Page | 5
,25) The ―Universal Functions Of Marketing‖ Consist Only Of Buying, Selling, Transporting, And Storing.
⊚ True
⊚ False
26) The Universal Functions Of Marketing Are Performed In The Same Way In All Nations And
Economic Systems.
⊚ True
⊚ False
27) Marketing Functions Are Performed By Producers, Consumers, And A Variety Of Marketing Specialists.
⊚ True
⊚ False
28) Intermediaries Specialize In Trade And Production.
⊚ True
⊚ False
29) Intermediaries Charge For Their Services, But Save Companies Money In The Long Run.
⊚ True
⊚ False
30) While Intermediaries Facilitate Exchange, Their Cost Makes The Whole Macro-Marketing
System Less Efficient.
⊚ True
⊚ False
Page | 6
,31) Marketing Collaborators Are Any Firms That Provide The Marketing Functions Of Buying And Selling.
⊚ True
⊚ False
32) Responsibility For Performing The Marketing Functions Can Be Shifted And Shared In A Variety Of
Ways, But Most Functions Cannot Be Completely Eliminated.
⊚ True
⊚ False
33) Not Every Society Needs An Economic System.
⊚ True
⊚ False
34) An Economic System Is The Way An Economy Organizes To Use Scarce Resources To Produce
Goods And Services And Distribute Them For Consumption Among Various People And Groups In
The Society.
⊚ True
⊚ False
35) There Is Little Variety In Countries With Command Economies, So Consumers Have Few Choices.
⊚ True
⊚ False
36) In A Command Economy, The Individual Decisions Of Many Producers And Consumers Make The
Macro- Level Decisions For The Whole Economy.
⊚ True
⊚ False
Page | 7
,37) In A Market-Directed Economy, Government Officials Decide What And How Much Is To Be
Produced And Distributed By Whom, When, To Whom, And Why.
⊚ True
⊚ False
38) In A Market-Directed Economy, Price Is A Rough Measure Of How Society Values Particular
Goods And Services.
⊚ True
⊚ False
39) Market-Directed Economies Tend To Provide Consumers With Greater Freedom Of Choice Than
Command Economies.
⊚ True
⊚ False
40) In A Market-Directed Economy, Profit Is Guaranteed.
⊚ True
⊚ False
41) The Increase In The Use Of Social Media Gives Consumers Less Power In The Market.
⊚ True
⊚ False
42) Most Western Economies Are Mainly Market-Directed.
⊚ True
⊚ False
Page | 8
,43) The Simple Trade Era Was A Time When Families Traded Or Sold Their ―Surplus‖ Output To Local
Distributors Who Resold These Goods To Other Consumers Or Distant Distributors.
⊚ True
⊚ False
44) During The Production Era A Company Focuses On Production Because Few Products Are Available
In The Market.
⊚ True
⊚ False
45) From The Industrial Revolution Until The 1920s, Most Companies Were In The Sales Era.
⊚ True
⊚ False
46) During The Sales Era, The Firm Tries To Improve Short-Run Marketing Policy Planning To Tie
Together Its Activities.
⊚ True
⊚ False
47) The Marketing Department Era Is A Time When All Marketing Activities Are Brought Under The
Control Of One Department.
⊚ True
⊚ False
48) During The ―Marketing Company Era,‖ The Total Company Effort Is Guided By The Idea That
Customers Exist To Buy The Firm‘S Output.
⊚ True
⊚ False
Page | 9
, 49) A Company Has Moved Into The ―Marketing Company Era‖ When, In Addition To Short-Run
Marketing Planning, The Total Company Effort Is Guided By The Marketing Concept.
⊚ True
⊚ False
50) The Marketing Concept Means That An Organization Aims All Its Efforts At Satisfying Its
Customers—At A Profit.
⊚ True
⊚ False
51) A Firm That Makes Products That Are Easy To Produce And Then Tries To Sell Them Has A
Production Orientation.
⊚ True
⊚ False
52) A Marketing-Oriented Firm Would Try To Produce What Customers Want, While A Production-
Oriented Firm Would Try To Get Customers To Buy What The Firm Has Produced.
⊚ True
⊚ False
53) The Three Basic Ideas In The Marketing Concept Are: (1) Putting Most Of The Company
Resources Into Marketing, (2) A Competitive Orientation, And (3) An Emphasis On Profit.
⊚ True
⊚ False
54) When A Firm Makes A Total Company Effort To Satisfy Its Customers, And Profit—Not Just
Sales—Is An Objective Of The Firm, The Company Is Practicing The ―Marketing Concept.‖
⊚ True
⊚ False
Page | 10
ESSENTIALS OF MARKETING: A MARKETING
STRATEGY PLANNING APPROACH
Page | 1
, Chapter 1
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
Page | 2
,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
Page | 3
,13) Marketing Activities Should Begin With Potential Customer Needs, Not With The Production Process.
⊚ True
⊚ 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
Page | 4
,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
⊚ False
20) Macro-Marketing Is Concerned With Examining The Relationship Of The Entire
Production And Distribution System.
⊚ True
⊚ False
21) An Effective Macro-Marketing System Matches Heterogeneous Supply With Heterogeneous Demand.
⊚ True
⊚ False
22) Jeraldo Is A Marketing Manager In A Consumer Products Company. He Is Concerned With Cost
Effective Packaging That Attracts Customers And Can Be Easily Recycled. Jeraldo‘S Concerns Are
Examples Of Macro- Marketing.
⊚ True
⊚ False
23) Effective Marketing In An Advanced Economy Is Difficult Because Producers And Consumers Are
Often Separated In Several Ways.
⊚ True
⊚ False
24) The Universal Functions Of Marketing Include Transporting And Storing.
⊚ True
⊚ False
Page | 5
,25) The ―Universal Functions Of Marketing‖ Consist Only Of Buying, Selling, Transporting, And Storing.
⊚ True
⊚ False
26) The Universal Functions Of Marketing Are Performed In The Same Way In All Nations And
Economic Systems.
⊚ True
⊚ False
27) Marketing Functions Are Performed By Producers, Consumers, And A Variety Of Marketing Specialists.
⊚ True
⊚ False
28) Intermediaries Specialize In Trade And Production.
⊚ True
⊚ False
29) Intermediaries Charge For Their Services, But Save Companies Money In The Long Run.
⊚ True
⊚ False
30) While Intermediaries Facilitate Exchange, Their Cost Makes The Whole Macro-Marketing
System Less Efficient.
⊚ True
⊚ False
Page | 6
,31) Marketing Collaborators Are Any Firms That Provide The Marketing Functions Of Buying And Selling.
⊚ True
⊚ False
32) Responsibility For Performing The Marketing Functions Can Be Shifted And Shared In A Variety Of
Ways, But Most Functions Cannot Be Completely Eliminated.
⊚ True
⊚ False
33) Not Every Society Needs An Economic System.
⊚ True
⊚ False
34) An Economic System Is The Way An Economy Organizes To Use Scarce Resources To Produce
Goods And Services And Distribute Them For Consumption Among Various People And Groups In
The Society.
⊚ True
⊚ False
35) There Is Little Variety In Countries With Command Economies, So Consumers Have Few Choices.
⊚ True
⊚ False
36) In A Command Economy, The Individual Decisions Of Many Producers And Consumers Make The
Macro- Level Decisions For The Whole Economy.
⊚ True
⊚ False
Page | 7
,37) In A Market-Directed Economy, Government Officials Decide What And How Much Is To Be
Produced And Distributed By Whom, When, To Whom, And Why.
⊚ True
⊚ False
38) In A Market-Directed Economy, Price Is A Rough Measure Of How Society Values Particular
Goods And Services.
⊚ True
⊚ False
39) Market-Directed Economies Tend To Provide Consumers With Greater Freedom Of Choice Than
Command Economies.
⊚ True
⊚ False
40) In A Market-Directed Economy, Profit Is Guaranteed.
⊚ True
⊚ False
41) The Increase In The Use Of Social Media Gives Consumers Less Power In The Market.
⊚ True
⊚ False
42) Most Western Economies Are Mainly Market-Directed.
⊚ True
⊚ False
Page | 8
,43) The Simple Trade Era Was A Time When Families Traded Or Sold Their ―Surplus‖ Output To Local
Distributors Who Resold These Goods To Other Consumers Or Distant Distributors.
⊚ True
⊚ False
44) During The Production Era A Company Focuses On Production Because Few Products Are Available
In The Market.
⊚ True
⊚ False
45) From The Industrial Revolution Until The 1920s, Most Companies Were In The Sales Era.
⊚ True
⊚ False
46) During The Sales Era, The Firm Tries To Improve Short-Run Marketing Policy Planning To Tie
Together Its Activities.
⊚ True
⊚ False
47) The Marketing Department Era Is A Time When All Marketing Activities Are Brought Under The
Control Of One Department.
⊚ True
⊚ False
48) During The ―Marketing Company Era,‖ The Total Company Effort Is Guided By The Idea That
Customers Exist To Buy The Firm‘S Output.
⊚ True
⊚ False
Page | 9
, 49) A Company Has Moved Into The ―Marketing Company Era‖ When, In Addition To Short-Run
Marketing Planning, The Total Company Effort Is Guided By The Marketing Concept.
⊚ True
⊚ False
50) The Marketing Concept Means That An Organization Aims All Its Efforts At Satisfying Its
Customers—At A Profit.
⊚ True
⊚ False
51) A Firm That Makes Products That Are Easy To Produce And Then Tries To Sell Them Has A
Production Orientation.
⊚ True
⊚ False
52) A Marketing-Oriented Firm Would Try To Produce What Customers Want, While A Production-
Oriented Firm Would Try To Get Customers To Buy What The Firm Has Produced.
⊚ True
⊚ False
53) The Three Basic Ideas In The Marketing Concept Are: (1) Putting Most Of The Company
Resources Into Marketing, (2) A Competitive Orientation, And (3) An Emphasis On Profit.
⊚ True
⊚ False
54) When A Firm Makes A Total Company Effort To Satisfy Its Customers, And Profit—Not Just
Sales—Is An Objective Of The Firm, The Company Is Practicing The ―Marketing Concept.‖
⊚ True
⊚ False
Page | 10
