TEST BANK FOR MARKETING 12TH EDITION – All Chapters 2023

TEST BANK FOR MARKETING 12TH EDITION – All Chapters 2023. The Internet and the extensive use of social media have fueled the change in power from consumers and business users to manufacturers and retailers. A : true B : false Correct Answer : B 4 : Customers perceive high-quality products that are sold at high prices to be a good value. A : true B : false Correct Answer : B 5 : Training plays an important role in customer service and relationship building. A : true B : false Correct Answer : A 6 : The organizations that are frequently noted for delivering superior customer value and providing high levels of customer satisfaction assign employees to teams and teach them teambuilding skills. A : true B : false Correct Answer : A 7 : A sales-oriented firm defines its mission in terms of benefits its customers seek, while a market-oriented firm defines its business in terms of goods and services. A : true B : false Correct Answer : B 1 / 12 8 : A sales-oriented firm targets its products at everybody, while a market-oriented organization aims at selling its products to a specific customer group. A : true B : false Correct Answer : A 9 : Thrift stores seek to achieve profitability through high sales volumes. A : true B : false Correct Answer : B 10 : Marketing determines prices and pricing policies that contribute to achieving the fundamental objectives of most businesses. A : true B : false Correct Answer : A 11 : Marketing career opportunities almost exclusively exist in nonbusiness organizations. A : true B : false Correct Answer : B MULTIPLE CHOICE 12 : Which of the following statements is not true of marketing? A : Marketing focuses on practices that deliver value and benefits to customers. B : Marketing focuses primarily on selling goods, services, and/or ideas to customers. C : Marketing employs the combined use of communication, distribution, and pricing strategies. D : Marketing involves building long-term, mutually rewarding relationships with customers. Correct Answer : B 13 : Which statement expresses the American Marketing Association (AMA)s core definition of marketing? A : Marketing is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. B : Marketing is an organization function and a set of processes implemented in order to ensure customer satisfaction. C : Marketing refers to personal selling that focuses solely on selling goods, services, and/or ideas to customers. D : Marketing involves building long-term, mutually rewarding relationships that are beneficial exclusively to the sellers. Correct Answer : B 14 : When a firm focuses on its internal capabilities rather than on the desires and needs of the 2 / 12 marketplace, then the firm is said to have adopted the ______ orientation. A : production B : sales C : market D : societal Correct Answer : A 15 : A firm could benefit from a production orientation when _____. A : it produces exactly what the market wants B : the market demand is less than the products supplied by the firm C : it hopes that the product it produces is something customers want D : it focuses on what company management thinks should be produced Correct Answer : A 16 : Firm XYZ is known for adopting a strategy that focuses on designing new products based on their assessment of the capabilities of their engineers and on the easy availability of resources. The firms approach, which emphasizes the ease of production and the talents of its resources rather than the needs and wants of the marketplace, can be attributed to its ______ orientation. A : production B : sales C : market D : societal Correct Answer : A 17 : A production-oriented firm is one that focuses on _______. A : the needs and wants of the customers B : aggressive sales techniques C : enhancing individuals and societys long-term best interests D : the internal capabilities of the firm Correct Answer : D