Marketing

Chapter 01

Marketing's Value to Consumers, Firms, and Society

True / False Questions

1. Marketing is basically selling and advertising. 

True    False

2. Marketing, in the literal sense, means "selling" or "advertising." 

True    False

3. Marketing means "promotion and selling." 

True    False

4. Estimating what price consumers are willing to pay for a product and if the firm can make a profit selling at that price, is an example of a production activity. 

True    False

5. 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

6. Customer satisfaction is the extent to which a firm fulfills a consumer's needs, desires, and expectations. 

True    False

7. If a firm produces the right goods or services, marketing has little role to play in creating customer satisfaction. 

True    False

8. In advanced economies, marketing costs only about 10 percent of each consumer's dollar. 

True    False

9. Marketing encourages the development and spread of new ideas, goods, and services. 

True    False

10. Marketing can be viewed as a set of activities performed by organizations, but not as a social process. 

True    False

11. Marketing can be viewed as a social process, but not as a set of activities performed by organizations. 

True    False

12. The micro view of marketing sees it as 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. 

True    False

13. The micro view of marketing is mainly concerned with the activities performed by organizations. 

True    False

14. From a micro view, marketing activities are performed only by profit-oriented organizations. 

True    False

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