TEST BANK
MKTG: PRINCIPLES OF MARKETING,
LAMB ET AL
3RD CANADIAN EDITION
JN
U
R
SE
MKTG 3rd Canadian E Lamb Test Bank Page 1
,Table of Contents
Part I. Marketing: Let’s Get Started
1. An Introduction to Marketing
2. The Marketing Environment, Social Responsibility, and Ethics
3. Strategic Planning for Competitive Advantage
4. Developing a Global Vision
Part II. Analyzing Marketing Opportunities
5. Marketing Research
6. Consumer Decision Making
7. Business Marketing
8. Segmenting, Targeting, and Positioning
Part III. Product Decisions
9. Product Concepts
JN
10. Developing and Managing Products
11. Services and Non-profit Organization Marketing
Part IV. Pricing Decisions
12. Setting the Right Price
U
Part V. Distribution Decisions
13. Marketing Channels and Supply Chain Management
R
14. Retailing
Part VI. Promotion Decisions
15. Marketing Communication
SE
16. Advertising, Public Relations, and Direct Response
17. Sales Promotion and Personal Selling
18. Social Media and Promotion
Part VII. Managing the Customer
19. Customer Relationship Management (CRM)
MKTG 3rd Canadian E Lamb Test Bank Page 2
,Ch 1_3ce_MKTG
Indicate whether the statement is true or false.
(ANSWERS AT THE END OF EVERY CHAPTER)
1. 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.
a. True
b. False
2. In the early 1920s, Ford famously promised its customers any colour vehicle they wanted, “as long as it was
black.” Ford’s management assumed anyone buying a car would accept the colour black, so it made products
affordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm.
a. True
b. False
3. An exchange cannot take place unless each party in the exchange has something that the other party values.
JN
a. True
b. False
4. 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
U
technology department had produced a successful new product. Based on this example, Sara Lee is a good
example of a production-oriented company.
R
a. True
b. False
SE
5. Marketing is a job that should be handled by marketers. People in management, accounting, and finance
should focus on their own specialties.
a. True
b. False
6. Salespeople who work for market-oriented organizations are generally perceived by their customers to be
order takers.
a. True
b. False
7. The societal marketing concept considers society’s long-term best interests, along with the satisfaction of
customers’ wants and needs.
a. True
b. False
8. The ultimate goal of most market-oriented firms is profitability, which results from satisfying the wants and
needs of its consumers.
a. True
b. False
MKTG 3rd Canadian E Lamb Test Bank Page 3
, 9. 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 give its salespeople intimate knowledge about exactly what its customers want. This
partnership between 3D Systems and its customers would be considered relationship marketing.
a. True
b. False
10. Customer value is the relationship between company profits and company costs.
a. True
b. False
11. Retailers who give their sales clerks the authority to handle customer complaints without having to get
approval from a supervisor are using CRM.
a. True
b. False
JN
12. While most marketing organizations rely on various forms of promotion to succeed, sales-oriented
organizations make the most effective use of their entire marketing mix.
a. True
b. False
U
13. Average salaries in jobs in marketing are 10 percent higher than the national salary average in all other job
areas.
a. True
R
b. False
14. Firms try to achieve customer satisfaction and value by ensuring customer expectations are met or exceeded.
SE
a. True
b. False
15. Only a firm’s salespeople need to be customer-oriented.
a. True
b. False
16. Both production and sales orientations are focused inward on the organization’s needs.
a. True
b. False
17. 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.
a. True
b. False
MKTG 3rd Canadian E Lamb Test Bank Page 4
MKTG: PRINCIPLES OF MARKETING,
LAMB ET AL
3RD CANADIAN EDITION
JN
U
R
SE
MKTG 3rd Canadian E Lamb Test Bank Page 1
,Table of Contents
Part I. Marketing: Let’s Get Started
1. An Introduction to Marketing
2. The Marketing Environment, Social Responsibility, and Ethics
3. Strategic Planning for Competitive Advantage
4. Developing a Global Vision
Part II. Analyzing Marketing Opportunities
5. Marketing Research
6. Consumer Decision Making
7. Business Marketing
8. Segmenting, Targeting, and Positioning
Part III. Product Decisions
9. Product Concepts
JN
10. Developing and Managing Products
11. Services and Non-profit Organization Marketing
Part IV. Pricing Decisions
12. Setting the Right Price
U
Part V. Distribution Decisions
13. Marketing Channels and Supply Chain Management
R
14. Retailing
Part VI. Promotion Decisions
15. Marketing Communication
SE
16. Advertising, Public Relations, and Direct Response
17. Sales Promotion and Personal Selling
18. Social Media and Promotion
Part VII. Managing the Customer
19. Customer Relationship Management (CRM)
MKTG 3rd Canadian E Lamb Test Bank Page 2
,Ch 1_3ce_MKTG
Indicate whether the statement is true or false.
(ANSWERS AT THE END OF EVERY CHAPTER)
1. 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.
a. True
b. False
2. In the early 1920s, Ford famously promised its customers any colour vehicle they wanted, “as long as it was
black.” Ford’s management assumed anyone buying a car would accept the colour black, so it made products
affordable by offering only one variety in large quantities. Ford is an example of a market-oriented firm.
a. True
b. False
3. An exchange cannot take place unless each party in the exchange has something that the other party values.
JN
a. True
b. False
4. 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
U
technology department had produced a successful new product. Based on this example, Sara Lee is a good
example of a production-oriented company.
R
a. True
b. False
SE
5. Marketing is a job that should be handled by marketers. People in management, accounting, and finance
should focus on their own specialties.
a. True
b. False
6. Salespeople who work for market-oriented organizations are generally perceived by their customers to be
order takers.
a. True
b. False
7. The societal marketing concept considers society’s long-term best interests, along with the satisfaction of
customers’ wants and needs.
a. True
b. False
8. The ultimate goal of most market-oriented firms is profitability, which results from satisfying the wants and
needs of its consumers.
a. True
b. False
MKTG 3rd Canadian E Lamb Test Bank Page 3
, 9. 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 give its salespeople intimate knowledge about exactly what its customers want. This
partnership between 3D Systems and its customers would be considered relationship marketing.
a. True
b. False
10. Customer value is the relationship between company profits and company costs.
a. True
b. False
11. Retailers who give their sales clerks the authority to handle customer complaints without having to get
approval from a supervisor are using CRM.
a. True
b. False
JN
12. While most marketing organizations rely on various forms of promotion to succeed, sales-oriented
organizations make the most effective use of their entire marketing mix.
a. True
b. False
U
13. Average salaries in jobs in marketing are 10 percent higher than the national salary average in all other job
areas.
a. True
R
b. False
14. Firms try to achieve customer satisfaction and value by ensuring customer expectations are met or exceeded.
SE
a. True
b. False
15. Only a firm’s salespeople need to be customer-oriented.
a. True
b. False
16. Both production and sales orientations are focused inward on the organization’s needs.
a. True
b. False
17. 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.
a. True
b. False
MKTG 3rd Canadian E Lamb Test Bank Page 4
