Test Bank for Marketing 20th Edition by William Pride and Ferrell

Test Bank for Marketing 20th Edition by William Pride and Ferrell




Test Bank for Marketing 20th Edition by William Pride and Ferrell

,Name: Class: Date:

Chap 01_20e

Indicate whether the statement is true or false.
1. Changes in the marketing environment always hurt marketing efforts.
True
False

2. Relationship marketing focuses on satisfying customers to generate the most profit.
True
False

3. For an exchange to occur, at least one of the parties must be willing to give up his or her "something of value."
True
False

4. Marketing activities can occur even when an exchange doesn't take place.
True
False

5. The distribution variable in a marketing mix is directed toward making products available in the quantities
desired to as many target market customers as possible and keeping the total inventory, transportation, and
storage costs as low as possible.
True
False

6. It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that
stay colder longer.
True
False

7. Marketing costs consume about one-quarter of a buyer's dollar.
True
False

8. Marketing consists primarily of selling and advertising.
True
False

9. Value = customer costs − customer benefits.
True
False

10. The marketing environment is a set of static, unchanging surroundings.
True
False




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,Name: Class: Date:

Chap 01_20e

11. Achievement of the firm's overall goals is part of the marketing concept.
True
False

12. In marketing, a product can be a good or a service but not an idea.
True
False

13. The marketing concept stresses that a business organization can best achieve its goal by providing customer
satisfaction through coordinated activities.
True
False

14. When assessing value, customers consider nonmonetary costs such as time and effort.
True
False

15. A target market is a specific group of customers on whom an organization focuses its marketing efforts.
True
False

16. The actual physical production of goods is a marketing activity.
True
False

17. For a business organization to remain healthy and to survive, it must sell products and make profits.
True
False

18. The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs
while achieving the overall goals of the organization.
True
False

19. Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept.
True
False

20. The market concept developed out of a sequence of three eras: the production orientation, the marketing
orientation, and the industrial orientation.
True
False

21. Marketing efforts do not involve the design and development of products.
True
False

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, Name: Class: Date:

Chap 01_20e

22. Price is seldom used as a competitive tool.
True
False

23. The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business
organization.
True
False

24. Customer benefits include time and effort.
True
False

25. Customer relationship management is the use of information about customers to create marketing strategies that
develop and sustain desirable customer relationships.
True
False

26. 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

27. Marketing costs consume about one-half of a buyer's dollar.
True
False

28. Products can be goods, services, or ideas.
True
False

29. Customers are the focal point of all marketing activities.
True
False

30. The process people use to determine the value of a product is not highly scientific.
True
False

31. To satisfy customers' objectives as well as its own, a company must coordinate all its activities.
True
False

32. Organizations have to define their products as what they make or produce.
True
False

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