TEST BANK
Test Bank for Marketing, 21st Edition
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pg
JN
ra
U
de
R
st
SE
uv
ia
TEST
BANK Page 1
, William M.: Marketing, 21st Edition
Chapter 01 21e Pride(Answers at
the end of every chapter)
✅
Indicate whether the statement is true or false.
1. During the market orientation, businesspeople realized that products, which by this time could be made relatively
efficiently, would have to be promoted through much personal selling and advertising.
True
False
2. Services are provided by applying human and mechanical efforts to people or objects to provide intangible
benefits to customers.
True
U
False
3. Marketing costs consume about one-quarter of a buyer's dollar.
pg
True
JN
False
4. The broadest and simplest definition of marketing states that it is the development and efficient distribution of
ra
products for consumer segments.
True
False
U
de
5. The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs
while achieving the overall goals of the organization.
R
True
False
st
SE
6. For a business organization to remain healthy and to survive, it must sell products and make profits.
True
False
uv
7. The outcomes of a marketer's decisions and actions may be affected by the variables in the marketing
environment.
True
ia
False
8. The reason the marketing concept is named this way is that it pertains solely to marketing.
True
False
9. Customers are interested in a product's price because they are concerned about the value obtained in an
exchange.
True
False
Page 2
,Name: Class: Date:
Chapter 01 21e Pride
10. Marketing costs consume about one-half of a buyer's dollar.
True
False
11. Organizations have to define their products as what they make or produce.
True
False
12. Customers are the focal point of all marketing activities.
True
U
False
13. Promotion can help sustain interest in established products that have long been available.
pg
True
False
JN
14. The marketing concept stresses that a business organization can best achieve its goals by providing customer
satisfaction through coordinated activities.
ra
True
False
U
15. Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable
de
marketing practices.
True
R
False
st
16. A target market is a specific group of customers on whom an organization focuses its marketing efforts.
SE
True
False
uv
17. To satisfy customers' objectives as well as its own, a company must coordinate all its activities.
True
False
ia
18. The impact of environmental forces on value can be extensive as market changes can easily influence how
stakeholders perceive certain products.
True
False
19. Changes in the marketing environment always hurt marketing efforts.
True
False
20. The marketing mix consists of three major variables: product, price, and distribution.
True
False
Page 3
, Name: Class: Date:
Chapter 01 21e Pride
21. The ability to identify individual customers allows marketers to shift their focus from increasing their share of an
individual customer’s purchases to targeting groups of similar customers.
True
False
22. The marketing concept is a management philosophy, not a second definition of marketing.
True
False
23. The actual physical production of goods is a marketing activity.
U
True
False
24. Marketing consists primarily of selling and advertising.
pg
True
JN
False
25. Basic and extended warranties can reduce risk, a major customer cost.
ra
True
False
U
26. Products can be goods, services, or ideas.
de
True
R
False
27. Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.
st
SE
True
False
28. The marketing concept directly affects marketing activities but should have a negligible impact on other
uv
organizational activities.
True
False
ia
29. The market concept stresses that an organization can best achieve its objectives by being customer-oriented.
True
False
30. Value = customer costs − customer benefits.
True
False
31. The process people use to determine the value of a product is not highly scientific.
True
False
Page 4
Test Bank for Marketing, 21st Edition
U
pg
JN
ra
U
de
R
st
SE
uv
ia
TEST
BANK Page 1
, William M.: Marketing, 21st Edition
Chapter 01 21e Pride(Answers at
the end of every chapter)
✅
Indicate whether the statement is true or false.
1. During the market orientation, businesspeople realized that products, which by this time could be made relatively
efficiently, would have to be promoted through much personal selling and advertising.
True
False
2. Services are provided by applying human and mechanical efforts to people or objects to provide intangible
benefits to customers.
True
U
False
3. Marketing costs consume about one-quarter of a buyer's dollar.
pg
True
JN
False
4. The broadest and simplest definition of marketing states that it is the development and efficient distribution of
ra
products for consumer segments.
True
False
U
de
5. The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs
while achieving the overall goals of the organization.
R
True
False
st
SE
6. For a business organization to remain healthy and to survive, it must sell products and make profits.
True
False
uv
7. The outcomes of a marketer's decisions and actions may be affected by the variables in the marketing
environment.
True
ia
False
8. The reason the marketing concept is named this way is that it pertains solely to marketing.
True
False
9. Customers are interested in a product's price because they are concerned about the value obtained in an
exchange.
True
False
Page 2
,Name: Class: Date:
Chapter 01 21e Pride
10. Marketing costs consume about one-half of a buyer's dollar.
True
False
11. Organizations have to define their products as what they make or produce.
True
False
12. Customers are the focal point of all marketing activities.
True
U
False
13. Promotion can help sustain interest in established products that have long been available.
pg
True
False
JN
14. The marketing concept stresses that a business organization can best achieve its goals by providing customer
satisfaction through coordinated activities.
ra
True
False
U
15. Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable
de
marketing practices.
True
R
False
st
16. A target market is a specific group of customers on whom an organization focuses its marketing efforts.
SE
True
False
uv
17. To satisfy customers' objectives as well as its own, a company must coordinate all its activities.
True
False
ia
18. The impact of environmental forces on value can be extensive as market changes can easily influence how
stakeholders perceive certain products.
True
False
19. Changes in the marketing environment always hurt marketing efforts.
True
False
20. The marketing mix consists of three major variables: product, price, and distribution.
True
False
Page 3
, Name: Class: Date:
Chapter 01 21e Pride
21. The ability to identify individual customers allows marketers to shift their focus from increasing their share of an
individual customer’s purchases to targeting groups of similar customers.
True
False
22. The marketing concept is a management philosophy, not a second definition of marketing.
True
False
23. The actual physical production of goods is a marketing activity.
U
True
False
24. Marketing consists primarily of selling and advertising.
pg
True
JN
False
25. Basic and extended warranties can reduce risk, a major customer cost.
ra
True
False
U
26. Products can be goods, services, or ideas.
de
True
R
False
27. Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.
st
SE
True
False
28. The marketing concept directly affects marketing activities but should have a negligible impact on other
uv
organizational activities.
True
False
ia
29. The market concept stresses that an organization can best achieve its objectives by being customer-oriented.
True
False
30. Value = customer costs − customer benefits.
True
False
31. The process people use to determine the value of a product is not highly scientific.
True
False
Page 4
