Indicate whether the statement is true or false.
1.Companies create strategy from the outside in by offering distinct and compelling customer value. This can be
accomplished only by carefully studying customers and using deep market insights to inform and guide
companies’ outside-in view.
a.True
b.False
2.Market-oriented organizations recognize that promotion decisions are the most important of four basic marketing
mix decisions that must be made.
a.True
b.False
3.According to the text, all businesspeople, regardless of specialization or area of responsibility, need to be familiar
with the terminology and fundamentals of accounting, finance, management, and marketing.
a.True
b.False
4.Two (or more) people may barter or trade such items as baseball cards or oil paintings. This is not considered an
exchange because this transaction does not require money.
a.True
b.False
5.Marketing determines prices and pricing policies that typically contribute to achieving the fundamental objectives
of most businesses.
a.True
b.False
6.A high price for a product or service assures the customer that the product or service is of a good value.
a.True
b.False
7.Success is achieved through a good understanding of your customers and your competition. In adopting a
marketing orientation, you can carry out your plans on the basis of this customer understanding.
a.True
b.False
8.If each party is not free to accept or reject the exchange offer, no exchange takes place.
a.True
b.False
9.Between one-fourth and one-third of the entire civilian workforce in the United States performs marketing
activities.
a.True
b.False
Copyright
Cengage
Learning.
Powered
by
Cognero.
Page
1
Name: Class: Date: Chap 01_MKTG13Test Bank for MKTG 13th Edition Lamb
1.Companies create strategy from the outside in by offering distinct and compelling customer value. This can be
accomplished only by carefully studying customers and using deep market insights to inform and guide
companies’ outside-in view.
a.True
b.False
2.Market-oriented organizations recognize that promotion decisions are the most important of four basic marketing
mix decisions that must be made.
a.True
b.False
3.According to the text, all businesspeople, regardless of specialization or area of responsibility, need to be familiar
with the terminology and fundamentals of accounting, finance, management, and marketing.
a.True
b.False
4.Two (or more) people may barter or trade such items as baseball cards or oil paintings. This is not considered an
exchange because this transaction does not require money.
a.True
b.False
5.Marketing determines prices and pricing policies that typically contribute to achieving the fundamental objectives
of most businesses.
a.True
b.False
6.A high price for a product or service assures the customer that the product or service is of a good value.
a.True
b.False
7.Success is achieved through a good understanding of your customers and your competition. In adopting a
marketing orientation, you can carry out your plans on the basis of this customer understanding.
a.True
b.False
8.If each party is not free to accept or reject the exchange offer, no exchange takes place.
a.True
b.False
9.Between one-fourth and one-third of the entire civilian workforce in the United States performs marketing
activities.
a.True
b.False
Copyright
Cengage
Learning.
Powered
by
Cognero.
Page
1
Name: Class: Date: Chap 01_MKTG13Test Bank for MKTG 13th Edition Lamb
