Marketing Chapter 1 True/False

43 Questions | Total Attempts: 940

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Marketing Chapter 1 True/False

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Questions and Answers
  • 1. 
    According to the text, marketing means "selling" or "advertising."
    • A. 

      True

    • B. 

      False

  • 2. 
    Actually making goods or performing services is called marketing.
    • A. 

      True

    • B. 

      False

  • 3. 
    Marketing plays an essential role in creating customer satisfaction.
    • A. 

      True

    • B. 

      False

  • 4. 
    It is estimated that marketing costs about 50 percent of each consumer's dollar.
    • A. 

      True

    • B. 

      False

  • 5. 
    Marketing discourages the development and spread of new ideas, goods, and services.
    • A. 

      True

    • B. 

      False

  • 6. 
    Marketing is both a set of activities performed by organizations and a social process.
    • A. 

      True

    • B. 

      False

  • 7. 
    Marketing is the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.
    • A. 

      True

    • B. 

      False

  • 8. 
    Marketing activities should be of no interest to a nonprofit organization.
    • A. 

      True

    • B. 

      False

  • 9. 
    Marketing does not occur unless two or more parties are willing to exchange something for something else.
    • A. 

      True

    • B. 

      False

  • 10. 
    In a pure subsistence economy--when each family unit produces everything it consumes--no marketing is involved.
    • A. 

      True

    • B. 

      False

  • 11. 
    A marketing exchange is a single transaction between a firm and a customer, nothing more.
    • A. 

      True

    • B. 

      False

  • 12. 
    Macro-marketing is a set of activities that direct an economy's flow of goods and services from producers to consumers in a way which effectively matches supply and demand and accomplishes the objectives of society.
    • A. 

      True

    • B. 

      False

  • 13. 
    Macro-marketing emphasizes who the whole system works, rather than the activities of individual organizations.
    • A. 

      True

    • B. 

      False

  • 14. 
    Achieving effective marketing in an advanced economy is simplified by the fact that producers are separated from consumers in only two ways: time and space.
    • A. 

      True

    • B. 

      False

  • 15. 
    "Economies of scale" means that as a company produces larger numbers of a particular product, the costs for each of these products goes down.
    • A. 

      True

    • B. 

      False

  • 16. 
    The "universal functions of marketing" consist only of buying, selling, transporting, and storing.
    • A. 

      True

    • B. 

      False

  • 17. 
    Marketing functions are performed by producers, consumers, and a variety of marketing specialists.
    • A. 

      True

    • B. 

      False

  • 18. 
    Intermediaries specialize in trade and production.
    • A. 

      True

    • B. 

      False

  • 19. 
    While intermediaries facilitate exchange, their cost makes the whole macro-marketing system less efficient.
    • A. 

      True

    • B. 

      False

  • 20. 
    Marketing collaborators are any firms that provide the marketing functions of buying and selling.
    • A. 

      True

    • B. 

      False

  • 21. 
    E-commerce refers to exchanges between organizations (not individuals) and the activities that facilitate those exchanges.
    • A. 

      True

    • B. 

      False

  • 22. 
    Responsibility for performing the marketing functions can be shifted and shared in a variety of ways, but no function can be completely eliminated.
    • A. 

      True

    • B. 

      False

  • 23. 
    Not all societies need an economic system.
    • A. 

      True

    • B. 

      False

  • 24. 
    In a market-directed economy, government officials decide what and how much is to be produced and distributed by whom, when, to whom, and why.
    • A. 

      True

    • B. 

      False

  • 25. 
    In a market-directed economy, price is a rough measure of how society values particular goods and services.
    • A. 

      True

    • B. 

      False