Test Bank for Essentials of Marketing 18th Edition by Joseph Cannon |All Chapters Included| Guide A+

TEST BANK FOR
Essentials of Marketing, 18th Edition By Joseph Cannon
Chapter 1-19 with Bonus 1&2

Answers are at the End of Each Chapter

Chapter 1
Student name:
1) Marketing is basically selling and advertising.
⊚ true
⊚ false
JN
2) Making goods or performing services is called production.
⊚ true
⊚ false
U
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.
R
⊚ true
⊚ false
SE

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



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
JN

9) Marketing is both a set of activities performed by organizations and a social process.
⊚ true
⊚ false
U

10) Marketing is the performance of activities that seek to accomplish an organization’s
R
objectives by anticipating customer or client needs and directing a flow of need-satisfying
goods and services from producer to customer or client.
⊚ true
SE
⊚ 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

,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
JN

16) In a pure subsistence economy—when each family unit produces everything it consumes—no
marketing is involved.
U
⊚ true
⊚ false
R

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.
SE
⊚ true
⊚ false



18) Macro-marketing emphasizes how the whole marketing system works.
⊚ true
⊚ false



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.
JN
⊚ true
⊚ false
U
23) Effective marketing in an advanced economy is difficult because producers and consumers
are often separated in several ways.
⊚ true
R
⊚ false
SE
24) The universal functions of marketing include transporting and storing.
⊚ true
⊚ false



25) The “universal functions of marketing” consist only of buying, selling, transporting, and
storing.
⊚ true
⊚ false