MKTG – 14th Edition (Charles W. Lamb, Joe F. Hair, Carl McDaniel) | Complete Test Bank with Answers for Chapters 1–19 (2025 Edition)

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, TestBank forMKTG, 14thEditionby CharlesW. Lamb, Joe F.
Hair Carl McDaniel A+
1. Marketinghas two facets. First, it is a ph osophy, an attitude, and a perspective that stresses
customer satisfaction. Second, marketing is an organizational function and a set of processes used to
implement this ph osophy.
a. True
b. False


2. With the help of an effective sales force that implements aggressive sales techniques, a
sales-oriented firm attempts to convince customers to purchase products theymaynot want or need.
a. True
b. False
3. Marketing career opportunities exist almost exclusivelyin nonbusiness organizations.
a. True
b. False
4. Marketingenta s processes that focus on delivering value and benefits to customers, not
just selling goods, services, and/or ideas.
a. True
b. False
5. Marketingdetermines prices and pricingpolicies that typicallycontribute to achieving the
fundamental objectives of most businesses.
a. True
b. False
6. A sales-oriented firm targets its products at the average customer, wh e a market-
oriented organization aims at selling its products to a specific customer group.
a. True
b. False
7. The all-inclusive definition of marketing is that it involves making products ava able in
stores, arranging displays, and maintaining inventories of products.




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,a. True
b. False
8. Bydeveloping a better understanding of marketing, a person w l become a better-
informed consumer.
a. True
b. False
9. Training plays an important role in customer service and relationship bu ding.
a. True
b. False




10. Exchange w l not necessar ytake place even if all the conditions exist, but they must
exist for exchange to be possible.
a. True
b. False
11. The internet and the extensive use of social media have fueled the change in power from
consumers and business users to manufacturers and reta ers.
a. True
b. False
12. Customers’preferences must be mediated bysound professional judgment about how
to deliver the benefits customers seek.
a. True
b. False
13. Market-oriented organizations recognizethat promotion decisions are the most
important of four basic marketing mix decisions that must be made.
a. True
b. False
14. Promotion is how organizations communicate with present and prospective
customers about the merits and characteristics of their organization and products.
a. True
b. False


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, 15. Two (or more) people may barter or trade such items as baseball cards or o paintings.
This is not considered an exchange because this transaction does not require money.
a. True
b. False
16. Success is achieved through a good understanding of a firm’s customers and its
competition. In adopting a marketing orientation, the firm can carryout its plans on the basis of this
customer understanding.
a. True
b. False
17. The organizations frequently noted for delivering superior customer value and
providing high levels of customer satisfaction assign employees to teams and teach them team- bu
ding sk ls.
a. True
b. False
18. If each partyis not free to accept or reject the exchange offer, no exchange takes
place.
a. True
b. False




19. According to the text, all businesspeople, regardless of specialization or area of responsib
ity, need to be fam iar with the terminologyand fundamentals of accounting, finance, management, and
marketing.
a. True
b. False
20. Between one-fourth and one-third of the entire civ ian workforce in the United States
performs marketing activities.
a. True
b. False




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