Test Bank for MKTG 14th Edition by Charles W. Lamb

Test Bank

for MKTG 14th Edition

by Charles W. Lamb

,Chapter 01 MKTG14

Indicate Whether The Statement Is True Or False.




Answers Included



1. Marketing Has Two Facets. First, It Is A Philosophy, An Attitude, And A Perspective That
Stresses Customer Satisfaction. Second, Marketing Is An Organizational Function And A Set Of Processes
Used To Implement This Philosophy.

A. True

B. False



2. With The Help Of An Effective Sales Force That Implements Aggressive Sales Techniques, A
Sales-Oriented Firm Attempts To Convince Customers To Purchase Products They May Not Want Or
Need.

A. True

B. False

3. Marketing Career Opportunities Exist Almost Exclusively In Nonbusiness Organizations.

A. True

B. False

4. Marketing Entails Processes That Focus On Delivering Value And Benefits To Customers, Not
Just Selling Goods, Services, And/Or Ideas.

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 Sales-Oriented Firm Targets Its Products At The Average Customer, While A Market-
Oriented Organization Aims At Selling Its Products To A Specific Customer Group.

,A. True

B. False

7. The All-Inclusive Definition Of Marketing Is That It Involves Making Products Available In
Stores, Arranging Displays, And Maintaining Inventories Of Products.

A. True

B. False

8. By Developing A Better Understanding Of Marketing, A Person Will Become A Better-
Informed Consumer.

A. True

B. False

9. Training Plays An Important Role In Customer Service And Relationship Building.

A. True

B. False




10. Exchange Will Not Necessarily Take Place Even If All The Conditions Exist, But They Must
Exist For Exchange To Be Possible.

A. True

B. False

11. The Internet And The Extensive Use Of Social Media Have Fueled The Change In Power From
Consumers And Business Users To Manufacturers And Retailers.

A. True

B. False

12. Customers’ Preferences Must Be Mediated By Sound Professional Judgment About How To
Deliver The Benefits Customers Seek.

A. True

B. False

13. 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

, 14. Promotion Is How Organizations Communicate With Present And Prospective Customers
About The Merits And Characteristics Of Their Organization And Products.

A. True

B. False

15. 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

16. Success Is Achieved Through A Good Understanding Of A Firm’s Customers And Its
Competition. In Adopting A Marketing Orientation, The Firm Can Carry Out Its Plans On The Basis Of This
Customer Understanding.

A. True

B. False

17. The Organizations Frequently Noted For Delivering Superior Customer Value And Providing
High Levels Of Customer Satisfaction Assign Employees To Teams And Teach Them Team-Building Skills.

A. True

B. False

18. If Each Party Is Not Free To Accept Or Reject The Exchange Offer, No Exchange Takes Place.

A. True

B. False




19. 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

20. Between One-Fourth And One-Third Of The Entire Civilian Workforce In The United States
Performs Marketing Activities.

A. True

B. False