With its thorough presentation of marketing concepts, 20 Test Bank for Marketing 11th Edition by Lamb True – False Questions will help the student realize the importance of marketing principles in the daily life as well as the business world. Not only does this marketing test bank provide the instructors with a tool to summarize the knowledge and easily plan their marketing courses for students but it also showcases the learners a clear overview of real-world marketing with free marketing textbook test bank questions and answers mentioning key points of this topic such as: Strategic Planning for Competitive Advantage, Ethics and Social Responsibility, Marketing Environment, Developing a Global Vision and the analysis of marketing opportunities. Thanks to a sufficient coverage of marketing and updated information as well as nicely-designed format, these multiple choice questions will make it easy for you to understand all the core issues of marketing and have a perfect preparation for your exams! Practice and raise your level now!

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20 Free Test Bank for Marketing 11th Edition by Lamb True - False Questions

Marketing is defined as producing, promoting, and selling products.

• True
• False

According to the American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• True
• False

An exchange cannot take place unless each party in the exchange has something that the other party values.

• True
• False

Sara Lee Industries spent considerable money and time developing a crustless bread. Prior to the introduction, the company had not conducted market research among its customers, but it was confident that its science and technology department had produced a successful new product. Based on this example, Sara Lee is a good example of a production-oriented company.

• True
• False

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.

• True
• False

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
• False

The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.

• True
• False

The focus of a production-oriented firm is on what it can make or do best.

• True
• False

Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what the market wants.

• True
• False

Customer value is the relationship between company profits and company costs.

• True
• False

The way to achieve customer satisfaction and value is to offer the lowest price.

• True
• False

3D Systems is a company that uses computers to generate new product prototypes. It has generated loyal business clients by providing the best customer support in the industry. The company also provides direct sales consultations that gives its salespeople intimate knowledge about what exactly its customers want. This partnership between 3D Systems and its customers entails relationship marketing.

• True
• False

Only a firm's salespeople need to be customer-oriented.

• True
• False

Retailers who give their sales clerks the authority to handle customer complaints without having to get approval from a supervisor are using empowerment.

• True
• False

In the early 1920s, Ford promised its customers any color vehicle they wanted as long as it was black. Ford's management assumed anyone buying a car would accept the color black, so it made products affordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm.

• True
• False