EXAM 1 POOL ITEMS
Chapter 1—An Overview of Marketing
TRUE/FALSE
1. Marketing is defined as producing, promoting, and selling products. False
PTS: 1
... [Show More] REF: 3 OBJ: 01-1 TOP: AACSB Reflective Thinking
3. An exchange cannot take place unless each party in the exchange has something that the other
party values. True
PTS: 1 REF: 4 OBJ: 01-1 TOP: AACSB Reflective Thinking
5. Unlike a production-orientated firm, a firm embracing a sales orientation focuses on customer
wants and needs so it can develop the best product at the lowest cost that will require very
little selling effort. False
PTS: 1 REF: 5 OBJ: 01-2 TOP: AACSB Reflective Thinking
6. The focus of a production-oriented firm is on what it can make or do best. True
PTS: 1 REF: 5 OBJ: 01-2 TOP: AACSB Reflective Thinking
7. The marketing concept states that the social and economic justification for an organization’s
existence is the satisfaction of customers’ wants and needs while meeting organizational
objectives. True
PTS: 1 REF: 5-6 OBJ: 01-2 TOP: AACSB Reflective Thinking
8. The ultimate goal of most market-oriented firms is profitability that results from satisfying the
wants and needs of its consumers. True
PTS: 1 REF: 5-6 OBJ: 01-2 TOP: AACSB Reflective Thinking
9. The societal marketing concept considers society’s long-term best interests along with the
satisfaction of customers’ wants and needs. True
PTS: 1 REF: 6 OBJ: 01-2 TOP: AACSB Reflective Thinking
10. Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what the
market wants. False
PTS: 1 REF: 7 OBJ: 01-3 TOP: AACSB Reflective Thinking
11. Customer value is the relationship between company profits and company costs. False
EXAM 1 POOL ITEMS
PTS: 1 REF: 7 OBJ: 01-3 TOP: AACSB Reflective Thinking
12. The way to achieve customer satisfaction and value is to offer the lowest price. False
PTS: 1 REF: 7-8 OBJ: 01-3 TOP: AACSB Reflective Thinking
14. Only a firm’s salespeople need to be customer oriented. False
PTS: 1 REF: 9 OBJ: 01-3 TOP: AACSB Reflective Thinking
15. Retailers who give their sales clerks the authority to handle customer complaints without
having to get approval from a supervisor are using empowerment. True
PTS: 1 REF: 10 OBJ: 01-3 TOP: AACSB Reflective Thinking
17. While most marketing organizations rely on various forms of promotion to succeed, salesoriented organizations make the most effective use of their entire marketing mix. False
PTS: 1 REF: 12 OBJ: 01-3 TOP: AACSB Reflective Thinking
18. Salespeople who work for market-oriented organizations are generally perceived by their
customers as problem solvers and important links to supply sources and new products. True
PTS: 1 REF: 12 OBJ: 01-3 TOP: AACSB Reflective Thinking
19. Marketing is important to business, so marketing should be part of the job of everyone in the
organization, not just those in marketing. True
PTS: 1 REF: 13 OBJ: 01-4 TOP: AACSB Reflective Thinking [Show Less]